Document


Dollars in millions, except per share data	Three Months Ended									Six Months Ended
Summary Financial Data & Key Metrics	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Results of Operations:
Net interest income	$	1,695		$	1,663		$	1,821		$	3,358		$	3,638
Provision for credit losses	115			154			95			269			159
Net interest income after provision for credit losses	1,580			1,509			1,726			3,089			3,479
Noninterest income	678			635			639			1,313			1,266
Noninterest expense	1,500			1,493			1,386			2,993			2,762
Income before income taxes	758			651			979			1,409			1,983
Income tax expense	183			168			272			351			545
Net income	575			483			707			1,058			1,438
Preferred stock dividends	14			15			16			29			31
Net income available to common stockholders	$	561		$	468		$	691		$	1,029		$	1,407
Adjusted net income available to common stockholders(1)	$	593		$	513		$	739		$	1,106		$	1,508
Pre-tax, pre-provision net revenue (PPNR)(1)	873			805			1,074			1,678			2,142
Adjusted PPNR(1)	929			865			1,132			1,794			2,273
Per Share Information:
Diluted earnings per common share (EPS)	$	42.36		$	34.47		$	47.54		$	76.73		$	96.80
Adjusted diluted EPS(1)	44.78			37.79			50.87			82.48			103.79
Book value per common share at period end	1,637.72			1,596.30			1,487.00
Tangible book value per common share (TBV)(1) at period end	1,594.38			1,553.06			1,443.92
Key Performance Metrics:
Return on average assets (ROA)	1.01		%	0.87		%	1.30		%	0.94		%	1.33		%
Adjusted ROA(1)	1.07			0.95			1.39			1.01			1.42
PPNR ROA(1)	1.54			1.45			1.97			1.49			1.98
Adjusted PPNR ROA(1)	1.64			1.56			2.08			1.60			2.10
Return on average common equity (ROE)	10.41			8.79			13.13			9.61			13.54
Adjusted ROE(1)	11.00			9.64			14.05			10.33			14.52
Return on average tangible common equity (ROTCE)(1)	10.69			9.04			13.53			9.87			13.97
Adjusted ROTCE(1)	11.30			9.91			14.48			10.61			14.98
Efficiency ratio	63.22			64.97			56.36			64.08			56.33
Adjusted efficiency ratio(1)	57.92			59.62			50.77			58.75			50.53
Net interest margin (NIM)(2)	3.26			3.26			3.64			3.26			3.66
NIM, excluding purchase accounting accretion (PAA)(1), (2)	3.14			3.12			3.36			3.13			3.36
Select Balance Sheet Items at Period End:
Total investment securities	$	43,346		$	44,319		$	37,666
Total loans and leases	141,269			141,358			139,341
Total operating lease equipment, net	9,466			9,371			8,945
Total deposits	159,935			159,325			151,079
Total borrowings	38,112			38,406			37,458
Loan to deposit ratio	88.33		%	88.72		%	92.23		%
Noninterest-bearing deposits to total deposits	25.56			25.59			26.49
Capital Ratios at Period End: (3)
Total risk-based capital ratio	14.25		%	15.23		%	15.45		%
Tier 1 risk-based capital ratio	12.63			13.35			13.87
Common equity Tier 1 ratio	12.12			12.81			13.33
Tier 1 leverage capital ratio	9.64			9.75			10.29
Asset Quality at Period End:
Nonaccrual loans to total loans and leases	0.93		%	0.85		%	0.82		%
Allowance for loan and lease losses (ALLL) to loans and leases	1.18			1.19			1.22
Net charge-off ratio for the period	0.33			0.41			0.38			0.37			0.35

(1) Denotes a non-GAAP measure. Refer to the non-GAAP reconciliation tables included at the end of this financial supplement for a reconciliation to the most directly comparable GAAP measure. “Adjusted” items exclude the impacts of Notable Items.
(2) Calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.
(3) Capital ratios as of the current quarter-end are preliminary pending completion of quarterly regulatory filings.


Dollars in millions, except share and per share data	Three Months Ended						Six Months Ended
Income Statement (unaudited)	June 30, 2025		March 31, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Interest income
Interest and fees on loans	$	2,270	$	2,236	$	2,422	$	4,506	$	4,776
Interest on investment securities	419		414		330		833		612
Interest on deposits at banks	256		245		378		501		826
Total interest income	2,945		2,895		3,130		5,840		6,214
Interest expense
Deposits	894		893		975		1,787		1,903
Borrowings	356		339		334		695		673
Total interest expense	1,250		1,232		1,309		2,482		2,576
Net interest income	1,695		1,663		1,821		3,358		3,638
Provision for credit losses	115		154		95		269		159
Net interest income after provision for credit losses	1,580		1,509		1,726		3,089		3,479
Noninterest income
Rental income on operating lease equipment	272		270		259		542		514
Lending-related fees	69		66		63		135		122
Deposit fees and service charges	59		58		57		117		115
Client investment fees	52		53		54		105		104
Wealth management services	55		56		52		111		103
International fees	33		32		29		65		57
Factoring commissions	18		17		19		35		36
Cardholder services, net	41		41		40		82		80
Merchant services, net	13		14		12		27		24
Insurance commissions	14		14		13		28		28

Fair value adjustment on marketable equity securities, net	2		(5)		(2)		(3)		(6)
Gain on sale of leasing equipment, net	8		5		4		13		14

Loss on extinguishment of debt	—		—		—		—		(2)
Other noninterest income	42		14		39		56		77
Total noninterest income	678		635		639		1,313		1,266
Noninterest expense
Depreciation on operating lease equipment	100		98		98		198		194
Maintenance and other operating lease expenses	55		58		60		113		105
Personnel cost	810		818		745		1,628		1,489
Net occupancy expense	61		58		58		119		120
Equipment expense	131		136		126		267		240
Professional fees	30		25		24		55		49
Third-party processing fees	63		63		58		126		118
FDIC insurance expense	38		38		33		76		74
Marketing expense	32		32		18		64		32
Acquisition-related expenses	38		42		44		80		102
Intangible asset amortization	13		15		15		28		32
Other noninterest expense	129		110		107		239		207
Total noninterest expense	1,500		1,493		1,386		2,993		2,762
Income before income taxes	758		651		979		1,409		1,983
Income tax expense	183		168		272		351		545
Net income	$	575	$	483	$	707	$	1,058	$	1,438
Preferred stock dividends	14		15		16		29		31
Net income available to common stockholders	$	561	$	468	$	691	$	1,029	$	1,407

Basic earnings per common share	$	42.36	$	34.47	$	47.54	$	76.73	$	96.81
Diluted earnings per common share	$	42.36	$	34.47	$	47.54	$	76.73	$	96.80
Weighted average common shares outstanding (basic)	13,237,226		13,575,231		14,534,499		13,405,295		14,533,900
Weighted average common shares outstanding (diluted)	13,237,226		13,575,231		14,534,499		13,405,295		14,535,472



Dollars in millions, except share data
Balance Sheet (unaudited)	June 30, 2025		March 31, 2025		June 30, 2024
Assets
Cash and due from banks	$	889	$	812	$	764
Interest-earning deposits at banks	26,184		24,692		25,361
Securities purchased under agreements to resell	300		345		392
Investment in marketable equity securities	97		95		78
Investment securities available for sale	33,060		33,900		27,053
Investment securities held to maturity	10,189		10,324		10,535
Assets held for sale	125		185		92
Loans and leases	141,269		141,358		139,341
Allowance for loan and lease losses	(1,672)		(1,680)		(1,700)
Loans and leases, net of allowance for loan and lease losses	139,597		139,678		137,641
Operating lease equipment, net	9,466		9,371		8,945
Premises and equipment, net	2,115		2,044		1,938
Goodwill	346		346		346
Other intangible assets, net	221		234		280
Other assets	7,064		6,796		6,402
Total assets	$	229,653	$	228,822	$	219,827
Liabilities
Deposits:
Noninterest-bearing	$	40,879	$	40,767	$	40,016
Interest-bearing	119,056		118,558		111,063
Total deposits	159,935		159,325		151,079
Credit balances of factoring clients	1,077		1,145		1,175
Borrowings:


Short-term borrowings	471		450		386




Long-term borrowings	37,641		37,956		37,072
Total borrowings	38,112		38,406		37,458
Other liabilities	8,233		7,651		7,628
Total liabilities	$	207,357	$	206,527	$	197,340
Stockholders’ equity
Preferred stock	881		881		881
Common stock:
Class A - $1 par value	12		12		14
Class B - $1 par value	1		1		1
Additional paid in capital	1,179		1,798		4,099
Retained earnings	20,337		19,802		18,102
Accumulated other comprehensive loss	(114)		(199)		(610)
Total stockholders’ equity	22,296		22,295		22,487
Total liabilities and stockholders’ equity	$	229,653	$	228,822	$	219,827



Dollars in millions, except share per share data	Three Months Ended						Six Months Ended
Notable Items (1)	June 30, 2025		March 31, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Noninterest income
Rental income on operating lease equipment (2)	$	(155)	$	(156)	$	(158)	$	(311)	$	(299)

Fair value adjustment on marketable equity securities, net	(2)		5		2		3		6
Gain on sale of leasing equipment, net	(8)		(5)		(4)		(13)		(14)

Loss on extinguishment of debt	—		—		—		—		2
Other noninterest income (3)	—		—		—		—		(4)
Impact of notable items on adjusted noninterest income	$	(165)	$	(156)	$	(160)	$	(321)	$	(309)
Noninterest expense
Depreciation on operating lease equipment (2)	(100)		(98)		(98)		(198)		(194)
Maintenance and other operating lease equipment expense (2)	(55)		(58)		(60)		(113)		(105)
Professional fees (4)	—		—		(1)		—		(4)
FDIC insurance special assessment	—		—		(2)		—		(11)
Acquisition-related expenses	(38)		(42)		(44)		(80)		(102)
Intangible asset amortization	(13)		(15)		(15)		(28)		(32)
Other noninterest expense (5)	(15)		(3)		2		(18)		8
Impact of notable items on adjusted noninterest expense	$	(221)	$	(216)	$	(218)	$	(437)	$	(440)




Impact of notable items on adjusted pre-tax income	$	56	$	60	$	58	$	116	$	131
Income tax impact (6)	24		15		10		39		30
Impact of notable items on adjusted net income	$	32	$	45	$	48	$	77	$	101

Impact of notable items on adjusted diluted EPS	$	2.42	$	3.32	$	3.33	$	5.75	$	6.99

(2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.



Dollars in millions, except share and per share data	Three Months Ended						Six Months Ended
Condensed Income Statements (unaudited) - Adjusted for Notable Items (1)	June 30, 2025		March 31, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Interest income	$	2,945	$	2,895	$	3,130	$	5,840	$	6,214
Interest expense	1,250		1,232		1,309		2,482		2,576
Net interest income	1,695		1,663		1,821		3,358		3,638
Provision for credit losses	115		154		95		269		159
Net interest income after provision for credit losses	1,580		1,509		1,726		3,089		3,479
Noninterest income	513		479		479		992		957
Noninterest expense	1,279		1,277		1,168		2,556		2,322
Income before income taxes	814		711		1,037		1,525		2,114
Income tax expense	207		183		282		390		575
Net income	$	607	$	528	$	755	$	1,135	$	1,539
Preferred stock dividends	14		15		16		29		31
Net income available to common stockholders	$	593	$	513	$	739	$	1,106	$	1,508

Basic earnings per common share	$	44.78	$	37.79	$	50.87	$	82.48	$	103.81
Diluted earnings per common share	44.78		37.79		50.87		82.48		103.79
Weighted average common shares outstanding (basic)	13,237,226		13,575,231		14,534,499		13,405,295		14,533,900
Weighted average common shares outstanding (diluted)	13,237,226		13,575,231		14,534,499		13,405,295		14,535,472


Dollars in millions
Loans and Leases by Class (end of period)	June 30, 2025		March 31, 2025		June 30, 2024

Commercial
Commercial construction	$	5,714	$	5,529	$	4,484
Owner occupied commercial mortgages	17,053		16,951		16,233
Non-owner occupied commercial mortgages	16,100		16,139		15,580
Commercial and industrial (1)	40,658		41,040		39,931
Leases	2,028		2,022		2,049
Global fund banking (1)	28,677		28,572		28,915
Investor dependent (1)	2,777		2,958		3,806
Total commercial	$	113,007	$	113,211	$	110,998

Consumer
Residential mortgage	$	23,059	$	23,060	$	23,101
Revolving mortgage	2,736		2,635		2,351
Consumer auto	1,490		1,487		1,503
Consumer other	977		965		1,388
Total consumer	$	28,262	$	28,147	$	28,343
Total loans and leases	$	141,269	$	141,358	$	139,341
Less: allowance for loan and lease losses	(1,672)		(1,680)		(1,700)
Total loans and leases, net of allowance for loan and lease losses	$	139,597	$	139,678	$	137,641





Deposits by Type (end of period)	June 30, 2025		March 31, 2025		June 30, 2024
Noninterest-bearing demand	$	40,879	$	40,767	$	40,016
Checking with interest	23,283		23,041		23,907
Money market	37,654		37,705		32,641
Savings	46,877		45,817		39,356
Time	11,242		11,995		15,159
Total deposits	$	159,935	$	159,325	$	151,079


	Three Months Ended									Six Months Ended
Credit Quality and Allowance for Loan and Lease Losses (ALLL)	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Nonaccrual loans at period end	$	1,319		$	1,206		$	1,141
Ratio of nonaccrual loans to total loans at period end	0.93		%	0.85		%	0.82		%

Charge-offs	$	(144)		$	(167)		$	(159)		$	(311)		$	(287)
Recoveries	25			23			27			48			52
Net charge-offs	$	(119)		$	(144)		$	(132)		$	(263)		$	(235)
Net charge-off ratio	0.33		%	0.41		%	0.38		%	0.37		%	0.35		%

ALLL to loans ratio at period end	1.18		%	1.19		%	1.22		%

ALLL at beginning of period	$	1,680		$	1,676		$	1,737		$	1,676		$	1,747


Provision for loan and lease losses	111			148			95			259			188
Net charge-offs	(119)			(144)			(132)			(263)			(235)
ALLL at end of period	$	1,672		$	1,680		$	1,700		$	1,672		$	1,700


Dollars in millions	Three Months Ended
	June 30, 2025						March 31, 2025						June 30, 2024
Average Balance Sheets, Yields and Rates	Average Balance		Income/Expense		Yield/Rate		Average Balance		Income/Expense		Yield/Rate		Average Balance		Income/Expense		Yield/Rate
Loans and leases (1) (2)	$	140,699	$	2,270	6.47	%	$	139,491	$	2,236	6.49	%	$	135,965	$	2,422	7.15	%
Investment securities	43,935		416		3.79		43,555		411		3.79		36,445		327		3.60
Securities purchased under agreements to resell	237		3		4.34		283		3		4.37		236		3		5.37
Interest-earning deposits at banks	23,304		256		4.40		22,699		245		4.38		28,059		378		5.42
Total interest-earning assets (2)	$	208,175	$	2,945	5.67	%	$	206,028	$	2,895	5.68	%	$	200,705	$	3,130	6.26	%

Operating lease equipment, net	$	9,419					$	9,350					$	8,888
Cash and due from banks	804						787						750
Allowance for loan and lease losses	(1,713)						(1,705)						(1,763)
All other noninterest-earning assets	10,867						10,989						10,311
Total assets	$	227,552					$	225,449					$	218,891
Interest-bearing deposits
Checking with interest	$	22,929	$	97	1.69	%	$	23,931	$	104	1.77	%	$	24,427	$	137	2.26	%
Money market	37,980		269		2.84		36,760		257		2.83		32,003		250		3.14
Savings	46,163		428		3.72		43,918		417		3.85		38,429		415		4.35
Time deposits	11,510		100		3.48		12,615		115		3.71		16,043		173		4.33
Total interest-bearing deposits	118,582		894		3.02		117,224		893		3.09		110,902		975		3.54
Borrowings:
Securities sold under customer repurchase agreements	471		—		0.57		428		1		0.52		380		—		0.46



Senior unsecured borrowings	555		8		5.27		169		2		4.88		375		3		2.49
Subordinated debt	1,473		19		5.23		959		8		3.36		901		7		3.32
Other borrowings	35,880		329		3.66		35,842		328		3.66		35,824		324		3.61
Long-term borrowings	37,908		356		3.74		36,970		338		3.66		37,100		334		3.60
Total borrowings	38,379		356		3.71		37,398		339		3.62		37,480		334		3.56
Total interest-bearing liabilities	$	156,961	$	1,250	3.19	%	$	154,622	$	1,232	3.22	%	$	148,382	$	1,309	3.54	%

Noninterest-bearing deposits	$	39,082					$	39,154					$	39,344
Credit balances of factoring clients	1,157						1,089						1,234
Other noninterest-bearing liabilities	7,864						8,127						7,879
Stockholders' equity	22,488						22,457						22,052
Total liabilities and stockholders’ equity	$	227,552					$	225,449					$	218,891

Net interest income			$	1,695					$	1,663					$	1,821
Net interest spread (2)					2.48	%					2.46	%					2.72	%
Net interest margin (2)					3.26	%					3.26	%					3.64	%


(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.
Note: Certain items above do not precisely recalculate as presented due to rounding.


Dollars in millions	Six Months Ended
Average Balance Sheets, Yields and Rates	June 30, 2025						June 30, 2024
	Average Balance		Income/Expense		Yield/Rate			Average Balance		Income/Expense		Yield/Rate
Loans and leases (1) (2)	$	140,099	$	4,506	6.48	%		$	134,139	$	4,776	7.15	%
Investment securities	43,746		827		3.79			34,546		606		3.51
Securities purchased under agreements to resell	260		6		4.36			240		6		5.38
Interest-earning deposits at banks	23,003		501		4.39			30,721		826		5.41
Total interest-earning assets (2)	$	207,108	$	5,840	5.67	%		$	199,646	$	6,214	6.25	%

Operating lease equipment, net	$	9,385						$	8,847
Cash and due from banks	795							768
Allowance for loan and lease losses	(1,709)							(1,780)
All other noninterest-earning assets	10,927							10,005
Total assets	$	226,506						$	217,486
Interest-bearing deposits
Checking with interest	$	23,427	$	201	1.73	%		$	24,195	$	267	2.22	%
Money market	37,373		526		2.84			31,470		482		3.08
Savings	45,046		845		3.79			37,456		806		4.33
Time deposits	12,060		215		3.60			16,361		348		4.27
Total interest-bearing deposits	117,906		1,787		3.06			109,482		1,903		3.50
Borrowings:
Securities sold under customer repurchase agreements	450		1		0.55			406		1		0.47



Senior unsecured borrowings	363		10		5.16			376		5		2.50
Subordinated debt	1,218		27		4.49			906		15		3.30
Other borrowings	35,861		657		3.66			35,842		652		3.64
Long-term borrowings	37,442		694		3.70			37,124		672		3.62
Total borrowings	37,892		695		3.66			37,530		673		3.58
Total interest-bearing liabilities	$	155,798	$	2,482	3.20	%		$	147,012	$	2,576	3.52	%

Noninterest-bearing deposits	$	39,118						$	39,498
Credit balances of factoring clients	1,123							1,169
Other noninterest-bearing liabilities	7,995							8,032
Stockholders' equity	22,472							21,775
Total liabilities and stockholders’ equity	$	226,506						$	217,486

Net interest income			$	3,358						$	3,638
Net interest spread (2)					2.47	%						2.73	%
Net interest margin (2)					3.26	%						3.66	%


(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.
Note: Certain items above do not precisely recalculate as presented due to rounding.


Dollars in millions, except share and per share data		Three Months Ended						Six Months Ended
Non-GAAP Reconciliations		June 30, 2025		March 31, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Net income and EPS
Net income (GAAP)	a	$	575	$	483	$	707	$	1,058	$	1,438
Preferred stock dividends		14		15		16		29		31
Net income available to common stockholders (GAAP)	b	$	561	$	468	$	691	$	1,029	$	1,407
Total notable items, after income tax	c	32		45		48		77		101
Adjusted net income (non-GAAP)	d = (a+c)	607		528		755		1,135		1,539
Adjusted net income available to common stockholders (non-GAAP)	e = (b+c)	$	593	$	513	$	739	$	1,106	$	1,508
Weighted average common shares outstanding
Basic	f	13,237,226		13,575,231		14,534,499		13,405,295		14,533,900
Diluted	g	13,237,226		13,575,231		14,534,499		13,405,295		14,535,472
EPS (GAAP)
Basic	b/f	$	42.36	$	34.47	$	47.54	$	76.73	$	96.81
Diluted	b/g	42.36		34.47		47.54		76.73		96.80
Adjusted EPS (non-GAAP)
Basic	e/f	$	44.78	$	37.79	$	50.87	$	82.48	$	103.81
Diluted	e/g	44.78		37.79		50.87		82.48		103.79

Noninterest income and expense
Noninterest income (GAAP)	h	$	678	$	635	$	639	$	1,313	$	1,266
Impact of notable items, before income tax		(165)		(156)		(160)		(321)		(309)
Adjusted noninterest income (non-GAAP)	i	$	513	$	479	$	479	$	992	$	957

Noninterest expense (GAAP)	j	$	1,500	$	1,493	$	1,386	$	2,993	$	2,762
Impact of notable items, before income tax		(221)		(216)		(218)		(437)		(440)
Adjusted noninterest expense (non-GAAP)	k	$	1,279	$	1,277	$	1,168	$	2,556	$	2,322







PPNR
Net income (GAAP)	a	$	575	$	483	$	707	$	1,058	$	1,438
Plus: provision for credit losses		115		154		95		269		159
Plus: income tax expense		183		168		272		351		545
PPNR (non-GAAP)	l	$	873	$	805	$	1,074	$	1,678	$	2,142
Impact of notable items (1)		56		60		58		116		131
Adjusted PPNR (non-GAAP)	m	$	929	$	865	$	1,132	$	1,794	$	2,273

(1) Excludes the impact of notable items on income taxes as this is excluded from PPNR as presented in the table above.
Note: Certain items above do not precisely recalculate as presented due to rounding.


Dollars in millions		Three Months Ended									Six Months Ended
Non-GAAP Reconciliations (continued)		June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
ROA
Net income (GAAP)	a	$	575		$	483		$	707		$	1,058		$	1,438
Annualized net income	n = a annualized	2,307			1,956			2,842			2,133			2,892
Adjusted net income (non-GAAP)	d	607			528			755			1,135			1,539
Annualized adjusted net income	p = d annualized	2,435			2,139			3,036			2,288			3,096
Average assets	o	227,552			225,449			218,891			226,506			217,486
ROA	n/o	1.01		%	0.87		%	1.30		%	0.94		%	1.33		%
Adjusted ROA (non-GAAP)	p/o	1.07			0.95			1.39			1.01			1.42

PPNR ROA
PPNR (non-GAAP)	l	$	873		$	805		$	1,074		$	1,678		$	2,142
Annualized PPNR	q = l annualized	3,501			3,264			4,316			3,383			4,306
Adjusted PPNR (non-GAAP)	m	929			865			1,132			1,794			2,273
Annualized adjusted PPNR	r = m annualized	3,728			3,507			4,552			3,618			4,571
PPNR ROA (non-GAAP)	q/o	1.54		%	1.45		%	1.97		%	1.49		%	1.98		%
Adjusted PPNR ROA (non-GAAP)	r/o	1.64			1.56			2.08			1.60			2.10

ROE and ROTCE
Annualized net income available to common stockholders	s = b annualized	$	2,249		$	1,898		$	2,779		$	2,074		$	2,830
Annualized adjusted net income available to common stockholders	t = e annualized	$	2,377		$	2,081		$	2,974		$	2,230		$	3,034

Average stockholders' equity (GAAP)		$	22,488		$	22,457		$	22,052		$	22,472		$	21,775
Less: average preferred stock		881			881			881			881			881
Average common stockholders' equity	u	$	21,607		$	21,576		$	21,171		$	21,591		$	20,894
Less: average goodwill		346			346			346			346			346
Less: average other intangible assets		229			244			288			236			296
Average tangible common equity (non-GAAP)	v	$	21,032		$	20,986		$	20,537		$	21,009		$	20,252
ROE	s/u	10.41		%	8.79		%	13.13		%	9.61		%	13.54		%
Adjusted ROE (non-GAAP)	t/u	11.00			9.64			14.05			10.33			14.52
ROTCE (non-GAAP)	s/v	10.69			9.04			13.53			9.87			13.97
Adjusted ROTCE (non-GAAP)	t/v	11.30			9.91			14.48			10.61			14.98

Tangible common equity to tangible assets at period end
Stockholders' equity (GAAP)	w	$	22,296		$	22,295		$	22,487
Less: preferred stock		881			881			881
Common equity	x	$	21,415		$	21,414		$	21,606
Less: goodwill		346			346			346
Less: other intangible assets		221			234			280
Tangible common equity (non-GAAP)	y	$	20,848		$	20,834		$	20,980
Total assets (GAAP)	z	229,653			228,822			219,827
Tangible assets (non-GAAP)	aa	229,086			228,242			219,201
Total equity to total assets (GAAP)	w/z	9.71		%	9.74		%	10.23		%
Tangible common equity to tangible assets (non-GAAP)	y/aa	9.10			9.13			9.57


Note: Certain items above do not precisely recalculate as presented due to rounding.


Dollars in millions, except share and per share data		Three Months Ended									Six Months Ended
Non-GAAP Reconciliations (continued)		June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Book value and tangible book value per common share at period end
Common shares outstanding at period end	bb	13,075,979			13,414,938			14,529,735
Book value per share	x/bb	$	1,637.72		$	1,596.30		$	1,487.00
Tangible book value per common share (non-GAAP)	y/bb	1,594.38			1,553.06			1,443.92

Efficiency ratio
Net interest income	cc	$	1,695		$	1,663		$	1,821		$	3,358		$	3,638
Efficiency ratio (GAAP)	j / (h + cc)	63.22		%	64.97		%	56.36		%	64.08		%	56.33		%
Adjusted efficiency ratio (non-GAAP)	k / (i + cc)	57.92			59.62			50.77			58.75		%	50.53		%

Rental income on operating lease equipment
Rental income on operating lease equipment (GAAP)		$	272		$	270		$	259		$	542		$	514
Less: depreciation on operating lease equipment		100			98			98			198			194
Less: maintenance and other operating lease expenses		55			58			60			113			105
Plus: accelerated depreciation on impaired operating lease equipment		—			—			—			—			—
Adjusted rental income on operating lease equipment (non-GAAP)		$	117		$	114		$	101		$	231		$	215

Net interest income & Net interest margin
Net interest income (GAAP)	cc	$	1,695		$	1,663		$	1,821		$	3,358		$	3,638
Loan PAA	dd	75			84			145			159			308
Other PAA	ee	(9)			(9)			(5)			(17)			(10)
PAA	ff = (dd + ee)	$	66		$	75		$	140		$	142		$	298
Net interest income, excluding PAA (non-GAAP)	gg = (cc - ff)	$	1,629		$	1,588		$	1,681		$	3,216		$	3,340

Annualized net interest income	hh = cc annualized	$	6,800		$	6,744		$	7,322		$	6,772		$	7,315
Annualized net interest income, excluding PAA	ii = gg annualized	6,533			6,439			6,760			6,486			6,715
Average interest-earning assets	jj	208,175			206,028			200,705			207,108			199,646

NIM (GAAP)	hh/jj	3.26		%	3.26		%	3.64		%	3.26		%	3.66		%
NIM, excluding PAA (non-GAAP)	ii/jj	3.14			3.12			3.36			3.13			3.36

Interest income on loans (GAAP)		$	2,270		$	2,236		$	2,422		$	4,506		$	4,776
Less: loan PAA	dd	75			84			145			159			308
Interest income on loans, excluding loan PAA (non-GAAP)		$	2,195		$	2,152		$	2,277		$	4,347		$	4,468

Income tax expense
Income tax expense		$	183		$	168		$	272		$	351		$	545
Impact of notable items		24			15			10			39			30
Adjusted income tax expense (non-GAAP)		$	207		$	183		$	282		$	390		$	575






Note: Certain items above do not precisely recalculate as presented due to rounding.