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Consolidated Statements of Condition - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
ASSETS:    
Cash and cash equivalents $ 18,990 $ 11,475
Debt Securities available-for-sale ($9,402 and $2,822 pledged at June 30, 2024 and December 31, 2023) 10,535 9,145
Equity investments with readily determinable fair values, at fair value 14 14
Total securities net of allowance for credit losses 10,549 9,159
Loans held for sale ($1,451 and $902 measured at fair value, respectively) 7,845 1,182
Loans and leases held for investment, net of deferred loan fees and costs ($68 and zero measured at fair value at June 30, 2024 and December 31, 2023, respectively) 74,552 84,619
Less: Allowance for credit losses on loans and leases (1,268) (992)
Total loans and leases held for investment, net 73,284 83,627
Federal Home Loan Bank stock and Federal Reserve Bank stock, at cost 1,565 1,392
Premises and equipment, net 691 652
Core deposit and other intangibles 557 625
Mortgage servicing rights 1,122 1,111
Bank-owned life insurance 1,586 1,580
Other assets 2,866 3,254
Total assets 119,055 114,057
Deposits:    
Interest-bearing checking and money market accounts 21,740 30,700
Savings accounts 10,638 8,773
Certificates of deposit 28,780 21,554
Non-interest-bearing accounts 17,874 20,499
Total deposits 79,032 81,526
Borrowed funds:    
Federal Home Loan Bank and Federal Reserve Bank advances 27,750 20,250
Repurchase agreements 121 0
Total wholesale borrowings 27,871 20,250
Junior subordinated debentures 580 579
Subordinated notes 441 438
Total borrowed funds 28,892 21,267
Other liabilities 2,476 2,897
Total liabilities 110,400 105,690
Mezzanine equity:    
Preferred stock - Series B (See Note 17 - Mezzanine and Stockholders Equity ) 258 0
Stockholders' equity:    
Preferred stock - Series A (See Note 17 - Mezzanine and Stockholders Equity) 503 503
Common stock at par 0.01 (666,666,666 and 300,000,000 shares authorized; 358,864,464 and 248,051,930
 shares issued; and 351,304,364 and 240,688,790 shares outstanding, respectively) [1] 4 2
Paid-in capital in excess of par 8,997 8,236
(Accumulated deficit)/Retained earnings (270) 443
Treasury stock, at cost (7,560,100 and 7,363,140 shares, respectively) (223) (218)
Accumulated other comprehensive loss, net of tax:    
Net unrealized loss on securities available for sale, net of tax of $256 and $225, respectively (674) (581)
Net unrealized loss on pension and post-retirement obligations, net of tax of $11 and $12, respectively (28) (28)
Net unrealized gain on cash flow hedges, net of tax of $(32) and $(6), respectively 88 10
Total accumulated other comprehensive loss, net of tax (614) (599)
Total stockholders’ equity 8,397 8,367
Total liabilities, Mezzanine and Stockholders’ Equity $ 119,055 $ 114,057
[1] On June 27, 2024, the Company announced a 1 for 3 reverse stock split, effective July 11, 2024. This reverse stock split is reflected retroactively in all periods presented. See Note 19 - Subsequent Events