LOANS AND LEASES

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

LOANS AND LEASES

NOTE 4 — LOANS AND LEASES

Unless otherwise noted, loans held for sale are not included in the following tables. Leases in the following tables include finance leases, but exclude operating lease equipment.

Loans by Class

dollars in millions	March 31, 2025		December 31, 2024
Commercial
Commercial construction	$	5,529	$	5,109
Owner occupied commercial mortgage	16,951		16,842
Non-owner occupied commercial mortgage	16,139		16,194
Commercial and industrial	31,899		31,640
Leases	2,022		2,014
Total commercial	72,540		71,799
Consumer
Residential mortgage	23,060		23,152
Revolving mortgage	2,635		2,567
Consumer auto	1,487		1,523
Consumer other	965		986
Total consumer	28,147		28,228
SVB
Global fund banking	28,572		27,904
Investor dependent - early stage	908		997
Investor dependent - growth stage	2,050		2,196
Innovation C&I and cash flow dependent	9,141		9,097
Total SVB (1)	40,671		40,194
Total loans and leases	$	141,358	$	140,221

(1) Total SVB Loans are irrespective of segment composition further described in Note 17—Segment Information.

At March 31, 2025 and December 31, 2024, accrued interest receivable on loans included in other assets was $601 million and $603 million, respectively, and was excluded from the estimate of credit losses.

The discount on acquired loans is accreted to interest income over the contractual life of the loan using the effective interest method. Discount accretion income was $84 million for the three months ended March 31, 2025, including $8 million for unfunded commitments. Discount accretion income was $163 million for the three months ended March 31, 2024, including $35 million for unfunded commitments.

The following table presents selected components of the amortized cost of loans, including the unamortized discount on acquired loans.

Components of Amortized Cost

dollars in millions	March 31, 2025		December 31, 2024
Deferred fees, including unamortized costs and unearned fees on non-PCD loans	$	(85)	$	(91)
Net unamortized discount on acquired loans
Non-PCD	$	1,449	$	1,504
PCD	75		94
Total net unamortized discount	$	1,524	$	1,598

The aging and nonaccrual status of the outstanding loans and leases by class at March 31, 2025 and December 31, 2024 are provided in the tables below. Loans and leases less than 30 days past due are considered current, as various grace periods allow borrowers to make payments within a stated period after the due date and remain in compliance with the respective agreement.

Loans and Leases - Delinquency and Nonaccrual Status (1) (2)

dollars in millions	March 31, 2025
	Accruing Loans
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater		Total Past Due		Current		Total Accruing		Nonaccrual Loans		Total
Commercial
Commercial construction	$	21	$	17	$	41	$	79	$	5,441	$	5,520	$	9	$	5,529
Owner occupied commercial mortgage	59		7		3		69		16,806		16,875		76		16,951
Non-owner occupied commercial mortgage	104		54		71		229		15,543		15,772		367		16,139
Commercial and industrial	185		50		9		244		31,298		31,542		357		31,899
Leases	48		8		1		57		1,936		1,993		29		2,022
Total commercial	417		136		125		678		71,024		71,702		838		72,540
Consumer
Residential mortgage	188		28		6		222		22,677		22,899		161		23,060
Revolving mortgage	17		5		—		22		2,587		2,609		26		2,635
Consumer auto	10		2		—		12		1,467		1,479		8		1,487
Consumer other	5		3		3		11		953		964		1		965
Total consumer	220		38		9		267		27,684		27,951		196		28,147
SVB
Global fund banking	—		—		—		—		28,572		28,572		—		28,572
Investor dependent - early stage	5		1		—		6		874		880		28		908
Investor dependent - growth stage	2		3		—		5		2,003		2,008		42		2,050
Innovation C&I and cash flow dependent	73		—		—		73		8,966		9,039		102		9,141
Total SVB	80		4		—		84		40,415		40,499		172		40,671
Total loans and leases	$	717	$	178	$	134	$	1,029	$	139,123	$	140,152	$	1,206	$	141,358
	December 31, 2024
	Accruing Loans
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater		Total Past Due		Current		Total Accruing		Nonaccrual Loans		Total
Commercial
Commercial construction	$	21	$	1	$	1	$	23	$	5,077	$	5,100	$	9	$	5,109
Owner occupied commercial mortgage	30		9		2		41		16,739		16,780		62		16,842
Non-owner occupied commercial mortgage	43		27		78		148		15,621		15,769		425		16,194
Commercial and industrial	118		39		16		173		31,182		31,355		285		31,640
Leases	33		11		2		46		1,937		1,983		31		2,014
Total commercial	245		87		99		431		70,556		70,987		812		71,799
Consumer
Residential mortgage	172		27		7		206		22,798		23,004		148		23,152
Revolving mortgage	20		4		—		24		2,519		2,543		24		2,567
Consumer auto	12		3		—		15		1,500		1,515		8		1,523
Consumer other	5		3		3		11		974		985		1		986
Total consumer	209		37		10		256		27,791		28,047		181		28,228
SVB
Global fund banking	—		—		—		—		27,904		27,904		—		27,904
Investor dependent - early stage	8		1		—		9		947		956		41		997
Investor dependent - growth stage	2		—		—		2		2,148		2,150		46		2,196
Innovation C&I and cash flow dependent	52		1		—		53		8,940		8,993		104		9,097
Total SVB	62		2		—		64		39,939		40,003		191		40,194
Total loans and leases	$	516	$	126	$	109	$	751	$	138,286	$	139,037	$	1,184	$	140,221

(1)    Accrued interest that was reversed when the loan went to nonaccrual status was $7 million for the three months ended March 31, 2025 and $14 million for year ended December 31, 2024.

(2)    Nonaccrual loans for which there was no related ALLL totaled $419 million at March 31, 2025 and $303 million at December 31, 2024.

Other real estate owned (“OREO”) and repossessed assets were $105 million as of March 31, 2025 and $64 million as of December 31, 2024.

Credit Quality Indicators

Loans and leases are monitored for credit quality on a recurring basis. Commercial loans and leases and consumer loans have different credit quality indicators as a result of the unique characteristics of the loan classes being evaluated. The credit quality indicators for commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Commercial loans are evaluated periodically with more frequent evaluations done on criticized loans. The indicators as of the date presented are based on the most recent assessment performed and are defined below:

Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification.

Special mention – A special mention asset has potential weaknesses which deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.

Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values.

Loss – Assets classified as loss are considered uncollectible and of such little value it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to any potential for recovery or salvage value, but rather it is not appropriate to defer a full charge-off even though partial recovery may be affected in the future.

Ungraded – Ungraded loans represent loans not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of ungraded loans at March 31, 2025 and December 31, 2024, relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit.

The credit quality indicator for consumer loans is based on delinquency status of the borrower as of the date presented. As the borrower becomes more delinquent, the likelihood of loss increases. An exemption is applied to government guaranteed loans as the principal repayments are insured by the Federal Housing Administration and U.S. Department of Veterans Affairs and thus remain on accrual status regardless of delinquency status.

The following tables summarize the commercial and SVB loans disaggregated by year of origination and by risk rating. The consumer loan delinquency status by year of origination is also presented below. The tables reflect the amortized cost of the loans and include PCD loans.

Commercial Loans - Risk Classifications by Class

March 31, 2025
Risk Classification:	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2025		2024		2023		2022		2021		2020 & Prior		Revolving				Total
Commercial construction
Pass	$	636	$	1,384	$	1,662	$	1,079	$	192	$	132	$	162	$	1	$	5,248
Special Mention	28		25		83		21		—		7		—		—		164
Substandard	16		21		9		54		9		8		—		—		117
Doubtful	—		—		—		—		—		—		—		—		—
Ungraded	—		—		—		—		—		—		—		—		—
Total commercial construction	680		1,430		1,754		1,154		201		147		162		1		5,529
Owner occupied commercial mortgage
Pass	591		2,683		2,501		2,655		2,475		4,782		203		29		15,919
Special Mention	2		28		23		89		54		60		7		—		263
Substandard	13		58		104		219		78		282		14		1		769
Doubtful	—		—		—		—		—		—		—		—		—
Ungraded	—		—		—		—		—		—		—		—		—
Total owner occupied commercial mortgage	606		2,769		2,628		2,963		2,607		5,124		224		30		16,951
Non-owner occupied commercial mortgage
Pass	699		3,274		3,490		2,501		1,495		3,030		116		3		14,608
Special Mention	35		86		113		159		4		26		—		—		423
Substandard	32		311		137		230		38		279		—		—		1,027
Doubtful	—		15		—		11		4		51		—		—		81
Ungraded	—		—		—		—		—		—		—		—		—
Total non-owner occupied commercial mortgage	766		3,686		3,740		2,901		1,541		3,386		116		3		16,139
Commercial and industrial
Pass	4,253		8,002		4,110		2,919		1,689		1,805		6,662		53		29,493
Special Mention	90		119		99		244		143		28		133		—		856
Substandard	85		220		174		229		239		60		290		3		1,300
Doubtful	—		10		25		33		13		2		20		—		103
Ungraded	—		—		—		—		—		—		147		—		147
Total commercial and industrial	4,428		8,351		4,408		3,425		2,084		1,895		7,252		56		31,899
Leases
Pass	226		657		450		255		119		100		—		—		1,807
Special Mention	6		28		20		25		5		2		—		—		86
Substandard	6		37		34		19		11		14		—		—		121
Doubtful	—		2		3		2		1		—		—		—		8
Ungraded	—		—		—		—		—		—		—		—		—
Total leases	238		724		507		301		136		116		—		—		2,022
Total commercial	$	6,718	$	16,960	$	13,037	$	10,744	$	6,569	$	10,668	$	7,754	$	90	$	72,540

SVB - Risk Classifications by Class

March 31, 2025
Risk Classification:	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2025		2024		2023		2022		2021		2020 & Prior		Revolving				Total
Global fund banking
Pass	$	214	$	902	$	172	$	111	$	18	$	19	$	27,049	$	83	$	28,568
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		3		—		—		1		—		4
Doubtful	—		—		—		—		—		—		—		—		—
Ungraded	—		—		—		—		—		—		—		—		—
Total global fund banking	214		902		172		114		18		19		27,050		83		28,572
Investor dependent - early stage
Pass	46		279		109		59		1		—		107		—		601
Special Mention	—		16		9		2		—		—		—		—		27
Substandard	—		64		88		50		8		—		41		3		254
Doubtful	2		2		12		7		1		—		2		—		26
Ungraded	—		—		—		—		—		—		—		—		—
Total investor dependent - early stage	48		361		218		118		10		—		150		3		908
Investor dependent - growth stage
Pass	136		804		309		177		12		—		188		—		1,626
Special Mention	—		45		4		1		13		—		28		—		91
Substandard	—		84		131		55		4		—		17		—		291
Doubtful	—		15		3		19		—		1		4		—		42
Ungraded	—		—		—		—		—		—		—		—		—
Total investor dependent - growth stage	136		948		447		252		29		1		237		—		2,050
Innovation C&I and cash flow dependent
Pass	446		1,915		1,284		1,099		342		104		2,247		12		7,449
Special Mention	43		—		64		73		20		—		132		—		332
Substandard	1		94		300		423		207		28		277		—		1,330
Doubtful	7		—		12		9		—		—		2		—		30
Ungraded	—		—		—		—		—		—		—		—		—
Total innovation C&I and cash flow dependent	497		2,009		1,660		1,604		569		132		2,658		12		9,141
Total SVB	$	895	$	4,220	$	2,497	$	2,088	$	626	$	152	$	30,095	$	98	$	40,671

Consumer Loans - Delinquency Status by Class

March 31, 2025
Days Past Due:	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2025		2024		2023		2022		2021		2020 & Prior		Revolving				Total
Residential mortgage
Current	$	391	$	2,275	$	2,860	$	5,152	$	5,021	$	7,007	$	6	$	—	$	22,712
30-59 days	—		7		12		28		39		115		—		—		201
60-89 days	—		—		2		5		5		28		—		—		40
90 days or greater	1		1		3		8		8		86		—		—		107
Total residential mortgage	392		2,283		2,877		5,193		5,073		7,236		6		—		23,060
Revolving mortgage
Current	—		—		—		—		—		—		2,485		112		2,597
30-59 days	—		—		—		—		—		—		14		6		20
60-89 days	—		—		—		—		—		—		1		6		7
90 days or greater	—		—		—		—		—		—		3		8		11
Total revolving mortgage	—		—		—		—		—		—		2,503		132		2,635
Consumer auto
Current	131		565		321		245		133		75		—		—		1,470
30-59 days	—		2		2		3		2		1		—		—		10
60-89 days	—		1		1		1		1		—		—		—		4
90 days or greater	—		1		1		1		—		—		—		—		3
Total consumer auto	131		569		325		250		136		76		—		—		1,487
Consumer other
Current	16		142		127		82		25		21		540		—		953
30-59 days	—		1		1		—		—		1		3		—		6
60-89 days	—		—		—		—		—		1		2		—		3
90 days or greater	—		—		—		—		—		1		2		—		3
Total consumer other	16		143		128		82		25		24		547		—		965
Total consumer	$	539	$	2,995	$	3,330	$	5,525	$	5,234	$	7,336	$	3,056	$	132	$	28,147

The following tables represent current credit quality indicators by origination year as of December 31, 2024:

Commercial Loans - Risk Classifications by Class

December 31, 2024
Risk Classification:	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2024		2023		2022		2021		2020		2019 & Prior		Revolving				Total
Commercial construction
Pass	$	1,095	$	1,854	$	1,276	$	287	$	152	$	52	$	148	$	—	$	4,864
Special Mention	—		80		35		—		7		24		—		—		146
Substandard	—		8		47		20		7		17		—		—		99
Doubtful	—		—		—		—		—		—		—		—		—
Ungraded	—		—		—		—		—		—		—		—		—
Total commercial construction	1,095		1,942		1,358		307		166		93		148		—		5,109
Owner occupied commercial mortgage
Pass	2,721		2,445		2,747		2,581		2,199		2,988		223		29		15,933
Special Mention	22		46		70		58		32		61		9		—		298
Substandard	30		34		136		82		73		245		10		1		611
Doubtful	—		—		—		—		—		—		—		—		—
Ungraded	—		—		—		—		—		—		—		—		—
Total owner occupied commercial mortgage	2,773		2,525		2,953		2,721		2,304		3,294		242		30		16,842
Non-owner occupied commercial mortgage
Pass	2,879		3,082		2,744		2,041		1,598		2,134		119		3		14,600
Special Mention	—		66		293		43		4		86		—		—		492
Substandard	12		15		171		39		116		653		—		—		1,006
Doubtful	—		—		—		—		20		76		—		—		96
Ungraded	—		—		—		—		—		—		—		—		—
Total non-owner occupied commercial mortgage	2,891		3,163		3,208		2,123		1,738		2,949		119		3		16,194
Commercial and industrial
Pass	9,677		4,862		3,417		2,042		1,101		1,408		6,886		62		29,455
Special Mention	92		53		178		245		25		69		114		—		776
Substandard	61		127		225		106		167		207		274		4		1,171
Doubtful	5		23		35		15		1		18		6		—		103
Ungraded	—		—		—		—		—		—		135		—		135
Total commercial and industrial	9,835		5,065		3,855		2,408		1,294		1,702		7,415		66		31,640
Leases
Pass	739		506		300		147		96		46		—		—		1,834
Special Mention	13		17		29		5		4		—		—		—		68
Substandard	21		29		23		13		9		8		—		—		103
Doubtful	1		3		2		2		1		—		—		—		9
Ungraded	—		—		—		—		—		—		—		—		—
Total leases	774		555		354		167		110		54		—		—		2,014
Total commercial	$	17,368	$	13,250	$	11,728	$	7,726	$	5,612	$	8,092	$	7,924	$	99	$	71,799

SVB - Risk Classifications by Class

December 31, 2024
Risk Classification:	Term Loans by Origination Year														Revolving Converted to Term Loans
	2024		2023		2022		2021		2020		2019 & Prior		Revolving				Total
Global fund banking
Pass	$	892	$	179	$	147	$	20	$	14	$	12	$	26,588	$	36	$	27,888
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		5		8		2		—		1		—		16
Doubtful	—		—		—		—		—		—		—		—		—
Ungraded	—		—		—		—		—		—		—		—		—
Total global fund banking	892		179		152		28		16		12		26,589		36		27,904
Investor dependent - early stage
Pass	293		201		94		5		—		—		97		3		693
Special Mention	8		8		3		—		—		—		—		—		19
Substandard	44		83		62		17		—		—		41		—		247
Doubtful	15		16		6		—		—		—		1		—		38
Ungraded	—		—		—		—		—		—		—		—		—
Total investor dependent - early stage	360		308		165		22		—		—		139		3		997
Investor dependent - growth stage
Pass	842		439		258		32		—		—		218		—		1,789
Special Mention	9		20		3		—		—		—		26		—		58
Substandard	78		90		102		14		1		—		20		—		305
Doubtful	11		3		22		5		—		—		3		—		44
Ungraded	—		—		—		—		—		—		—		—		—
Total investor dependent - growth stage	940		552		385		51		1		—		267		—		2,196
Innovation C&I and cash flow dependent
Pass	2,136		1,433		1,205		347		120		—		2,147		5		7,393
Special Mention	53		183		77		57		4		—		89		—		463
Substandard	94		220		389		226		28		—		180		—		1,137
Doubtful	—		—		7		—		—		—		97		—		104
Ungraded	—		—		—		—		—		—		—		—		—
Total innovation C&I and cash flow dependent	2,283		1,836		1,678		630		152		—		2,513		5		9,097
Total SVB	$	4,475	$	2,875	$	2,380	$	731	$	169	$	12	$	29,508	$	44	$	40,194

Consumer Loans - Delinquency Status by Class

December 31, 2024
Days Past Due:	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2024		2023		2022		2021		2020		2019 & Prior		Revolving				Total
Residential mortgage
Current	$	2,178	$	2,968	$	5,264	$	5,148	$	2,913	$	4,353	$	4	$	—	$	22,828
30-59 days	3		13		19		23		31		95		—		—		184
60-89 days	1		3		5		2		2		28		—		—		41
90 days or greater	—		4		6		7		9		73		—		—		99
Total residential mortgage	2,182		2,988		5,294		5,180		2,955		4,549		4		—		23,152
Revolving mortgage
Current	—		—		—		—		—		—		2,420		108		2,528
30-59 days	—		—		—		—		—		—		16		6		22
60-89 days	—		—		—		—		—		—		1		5		6
90 days or greater	—		—		—		—		—		—		3		8		11
Total revolving mortgage	—		—		—		—		—		—		2,440		127		2,567
Consumer auto
Current	617		358		277		155		68		27		—		—		1,502
30-59 days	3		3		3		2		1		1		—		—		13
60-89 days	1		1		1		1		—		—		—		—		4
90 days or greater	1		1		1		1		—		—		—		—		4
Total consumer auto	622		363		282		159		69		28		—		—		1,523
Consumer other
Current	147		144		99		30		6		18		531		—		975
30-59 days	1		—		—		—		—		1		3		—		5
60-89 days	—		—		1		—		—		—		2		—		3
90 days or greater	—		—		—		—		—		1		2		—		3
Total consumer other	148		144		100		30		6		20		538		—		986
Total consumer	$	2,952	$	3,495	$	5,676	$	5,369	$	3,030	$	4,597	$	2,982	$	127	$	28,228

Gross Charge-offs

Gross charge-off vintage disclosures by origination year and loan class are summarized in the following tables:

Three Months Ended March 31, 2025
	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2025		2024		2023		2022		2021		2020 & Prior		Revolving				Total
Commercial
Non-owner occupied commercial mortgage	$	—	$	10	$	3	$	10	$	—	$	17	$	—	$	—	$	40
Commercial and industrial	—		6		19		10		4		5		15		1		60
Leases	—		1		1		1		1		1		—		—		5
Total commercial	—		17		23		21		5		23		15		1		105
Consumer
Consumer auto	—		1		1		1		—		—		—		—		3
Consumer other	—		—		1		—		—		—		4		—		5
Total consumer	—		1		2		1		—		—		4		—		8
SVB
Investor dependent - early stage	—		4		14		9		3		—		1		—		31
Investor dependent - growth stage	—		—		—		3		3		2		—		—		8
Innovation C&I and cash flow dependent	—		—		—		—		—		—		15		—		15
Total SVB	—		4		14		12		6		2		16		—		54
Total loans and leases	$	—	$	22	$	39	$	34	$	11	$	25	$	35	$	1	$	167

Three Months Ended March 31, 2024
	Term Loans by Origination Year														Revolving Converted to Term Loans
dollars in millions	2024		2023		2022		2021		2020		2019 & Prior		Revolving				Total
Commercial
Non-owner occupied commercial mortgage	$	—	$	—	$	—	$	—	$	—	$	29	$	—	$	—	$	29
Commercial and industrial	1		8		8		2		1		2		14		—		36
Leases	—		2		4		2		1		1		—		—		10
Total commercial	1		10		12		4		2		32		14		—		75
Consumer
Consumer auto	—		1		1		—		—		—		—		—		2
Consumer other	—		—		1		—		—		—		4		—		5
Total consumer	—		1		2		—		—		—		4		—		7
SVB
Investor dependent - early stage	—		4		13		6		—		—		1		—		24
Investor dependent - growth stage	—		2		4		7		1		—		—		—		14
Innovation C&I and cash flow dependent	—		3		—		—		—		—		5		—		8
Total SVB	—		9		17		13		1		—		6		—		46
Total loans and leases	$	1	$	20	$	31	$	17	$	3	$	32	$	24	$	—	$	128

Loan Modifications for Borrowers Experiencing Financial Difficulties

As part of BancShares’ ongoing credit risk management practices, BancShares attempts to work with borrowers when necessary to extend or modify loan terms to better align with the borrowers’ current ability to repay. BancShares’ modifications granted to debtors experiencing financial difficulties typically take the form of term extensions, interest rate reductions, payment delays, principal forgiveness, or a combination thereof. Modifications are made in accordance with internal policies and guidelines to conform to regulatory guidance.

The following tables present the amortized cost of loan modifications made to debtors experiencing financial difficulty, disaggregated by class and type of loan modification. The tables also provide financial effects by type of such loan modifications for the respective loan class.

Amortized Cost of Loans Modified during the three months ended March 31, 2025

dollars in millions	Term Extension (1)		Payment Delay		Interest Rate Reduction		Term Extension(1) and Interest Rate Reduction		Term Extension(1) and Payment Delay		Other Combinations		Total		Percent of Total Loan Class
Commercial
Commercial construction	$	16	$	—	$	—	$	—	$	1	$	—	$	17	0.31	%
Owner occupied commercial mortgage	12		2		—		—		14		—		28		0.16
Non-owner occupied commercial mortgage	18		—		—		—		62		—		80		0.49
Commercial and industrial	24		17		—		2		17		—		60		0.19
Total commercial	70		19		—		2		94		—		185		0.25
Consumer
Residential mortgage	4		—		—		1		3		—		8		0.04
Total consumer	4		—		—		1		3		—		8		0.03
SVB
Investor dependent - early stage	—		11		—		—		—		—		11		1.22
Investor dependent - growth stage	4		10		—		—		—		—		14		0.70
Innovation C&I and cash flow dependent	37		—		—		—		7		—		44		0.48
Total SVB	41		21		—		—		7		—		69		0.17
Total loans and leases	$	115	$	40	$	—	$	3	$	104	$	—	$	262	0.19	%

(1) Term extensions include modifications in which the balloon principal payment was deferred to a later date or the loan amortization period was extended.

Amortized Cost of Loans Modified during the three months ended March 31, 2024

dollars in millions	Term Extension (1)		Payment Delay		Interest Rate Reduction		Term Extension(1) and Interest Rate Reduction		Term Extension(1) and Payment Delay		Other Combinations		Total		Percent of Total Loan Class
Commercial
Commercial construction	$	3	$	—	$	—	$	—	$	—	$	—	$	3	0.08	%
Owner occupied commercial mortgage	15		—		1		1		9		—		26		0.16
Non-owner occupied commercial mortgage	38		—		—		—		27		—		65		0.42
Commercial and industrial	23		—		—		8		—		—		31		0.11
Total commercial	79		—		1		9		36		—		125		0.19
Consumer
Residential mortgage	6		—		—		2		—		—		8		0.03
Revolving mortgage	1		—		—		1		—		—		2		0.08
Total consumer	7		—		—		3		—		—		10		0.03
SVB
Investor dependent - early stage	—		6		—		—		2		—		8		0.63
Investor dependent - growth stage	—		24		—		—		10		—		34		1.25
Innovation C&I and cash flow dependent	18		—		—		—		7		—		25		0.27
Total SVB	18		30		—		—		19		—		67		0.17
Total loans and leases	$	104	$	30	$	1	$	12	$	55	$	—	$	202	0.15	%

(1) Term extensions include modifications in which the balloon principal payment was deferred to a later date or the loan amortization period was extended.

Financial Effects of Loan Modifications made during the three months ended March 31, 2025

dollars in millions	Weighted Average Term Extension (in Months)	Weighted Average Interest Rate Reduction		Weighted Average Payment Delay (in Months)	Amount of Principal Forgiven
Commercial
Commercial construction	8	—	%	5	$	—
Owner occupied commercial mortgage	8	—		6	—
Non-owner occupied commercial mortgage	6	—		6	—
Commercial and industrial	9	1.65		9	—
Total commercial	7	1.65		7	—
Consumer
Residential mortgage	22	1.87		5	—
Revolving mortgage	60	3.21		5	—
Consumer auto	20	—		4	—
Consumer other	—	9.97		—	—
Total consumer	24	2.41		5	—
SVB
Investor dependent - early stage	—	—		5	—
Investor dependent - growth stage	12	—		6	—
Innovation C&I and cash flow dependent	22	—		12	—
Total SVB	21	—		7	—
Total loans and leases	11	2.06	%	7	$	—

Financial Effects of Loan Modifications made during the three months ended March 31, 2024

dollars in millions	Weighted Average Term Extension (in Months)	Weighted Average Interest Rate Reduction		Weighted Average Payment Delay (in Months)	Amount of Principal Forgiven
Commercial
Commercial construction	22	2.49	%	—	$	—
Owner occupied commercial mortgage	23	0.79		20	—
Non-owner occupied commercial mortgage	27	—		48	—
Commercial and industrial	9	1.39		4	—
Total commercial	21	1.31		41	—
Consumer
Residential mortgage	52	1.52		—	—
Revolving mortgage	59	4.15		—	—
Consumer auto	30	0.26		—	—
Consumer other	49	9.19		—	—
Total consumer	53	2.41		—	—
SVB
Investor dependent - early stage	6	—		7	—
Investor dependent - growth stage	19	—		10	—
Innovation C&I and cash flow dependent	12	—		6	—
Total SVB	14	—		9	—
Total loans and leases	21	1.52	%	22	$	—

Borrowers experiencing financial difficulties are typically identified in our credit risk management process before loan modifications occur. An assessment of whether a borrower is experiencing financial difficulty is reassessed or performed on the date of a modification. Since the effect of most modifications made to borrowers experiencing financial difficulty is already included in the ALLL because of the measurement methodologies used to estimate the ALLL, a change to the ALLL is generally not recorded upon modification. Upon BancShares’ determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off.

At March 31, 2025, there were $53 million of loans modified in the twelve months ended March 31, 2025, which defaulted subsequent to modification.

The following tables present the amortized cost and performance of loans to borrowers experiencing financial difficulties for which the terms of the loan were modified during the referenced periods. The period of delinquency is based on the number of days the scheduled payment is contractually past due.

Modified Loans Payment Status (twelve months ended March 31, 2025)

dollars in millions	Current		30–59 Days Past Due		60–89 Days Past Due		90 Days or Greater Past Due		Total
Commercial
Commercial construction	$	25	$	—	$	—	$	—	$	25
Owner occupied commercial mortgage	61		3		1		—		65
Non-owner occupied commercial mortgage	204		9		—		23		236
Commercial and industrial	180		4		1		2		187
Total commercial	470		16		2		25		513
Consumer
Residential mortgage	12		1		1		3		17
Revolving mortgage	8		—		—		—		8
Total consumer	20		1		1		3		25
SVB
Investor dependent - early stage	22		3		—		—		25
Investor dependent - growth stage	41		—		—		—		41
Innovation C&I and cash flow dependent	143		—		—		3		146
Total SVB	206		3		—		3		212
Total loans and leases	$	696	$	20	$	3	$	31	$	750

Modified Loans Payment Status (twelve months ended March 31, 2024)

dollars in millions	Current		30–59 Days Past Due		60–89 Days Past Due		90 Days or Greater Past Due		Total
Commercial
Commercial construction	$	4	$	—	$	—	$	—	$	4
Owner occupied commercial mortgage	26		2		—		1		29
Non-owner occupied commercial mortgage	314		39		—		—		353
Commercial and industrial	107		5		2		1		115
Total commercial	451		46		2		2		501
Consumer
Residential mortgage	15		1		—		1		17
Revolving mortgage	4		—		—		—		4
Total consumer	19		1		—		1		21
SVB
Investor dependent - early stage	22		2		—		3		27
Investor dependent - growth stage	63		—		—		—		63
Innovation C&I and cash flow dependent	56		—		—		28		84
Total SVB	141		2		—		31		174
Total loans and leases	$	611	$	49	$	2	$	34	$	696

At March 31, 2025, there were $6 million of commitments to lend additional funds to debtors experiencing financial difficulty for which the terms of the loan were modified during the three months ended March 31, 2025. At December 31, 2024, there were $55 million of commitments to lend additional funds to debtors experiencing financial difficulty for which the terms of the loan were modified during the year ended December 31, 2024.

Loans Pledged

The following table provides information regarding loans pledged as collateral for borrowing capacity through the FHLB of Atlanta, the Federal Reserve Bank (“FRB”) and FDIC.

Loans Pledged

dollars in millions	March 31, 2025		December 31, 2024
FHLB of Atlanta
Lendable collateral value of pledged non-PCD loans	$	17,992	$	17,873
Less: advances	—		—
Less: letters of credit	1,450		1,450
Available borrowing capacity	$	16,542	$	16,423
Pledged non-PCD loans	$	30,112	$	30,421
FRB
Lendable collateral value of pledged non-PCD loans	$	5,612	$	5,475
Less: advances	—		—
Available borrowing capacity	$	5,612	$	5,475
Pledged non-PCD loans	$	6,432	$	6,309
FDIC
Lendable collateral value of pledged loans	$	39,415	$	41,282
Less: advances	—		—
Less: Purchase Money Note	35,991		35,991
Available borrowing capacity (1)	$	—	$	5,291
Pledged loans	$	39,173	$	41,040

(1) The draw period ended on March 27, 2025, therefore there is no available borrowing capacity at March 31, 2025.

As a member of the FHLB, FCB can access financing based on an evaluation of its creditworthiness, statement of financial position, size and eligibility of collateral. FCB may at any time grant a security interest in, sell, convey or otherwise dispose of any of the assets used for collateral, provided that FCB is in compliance with the collateral maintenance requirement immediately following such disposition.

Under borrowing arrangements with the FRB, BancShares has access to the FRB Discount Window on a secured basis. There were no outstanding borrowings with the FRB Discount Window at March 31, 2025 or December 31, 2024.

In connection with the SVBB Acquisition, FCB and the FDIC entered into financing agreements, including the five-year Purchase Money Note, and the Advance Facility Agreement, which allowed for advances through March 27, 2025. There were no amounts outstanding at the end of the draw period of the facility on March 27, 2025. Refer to Note 2—Business Combinations for further discussion of these agreements and Note 9—Borrowings for the outstanding carrying value of the Purchase Money Note.