v3.25.4
FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value by Class on a Recurring Basis
The following schedule presents assets and liabilities measured at fair value on a recurring basis:
December 31, 2025
(In millions)Level 1Level 2Level 3Total
ASSETS
Trading securities$— $64 $— $64 
Available-for-sale securities:
U.S. Treasury, agencies, and corporations1,411 6,862 — 8,273 
Municipal securities— 909 — 909 
Other debt securities— 25 — 25 
Total available-for-sale1,411 7,796 — 9,207 
Loans held for sale— 71 — 71 
Other noninterest-bearing investments:
Bank-owned life insurance— 573 — 573 
Private equity investments 1
6 — 157 163 
Other assets:
Agriculture loan servicing— — 18 18 
Deferred compensation plan assets154 — — 154 
Derivatives— 360 — 360 
Total assets$1,571 $8,864 $175 $10,610 
LIABILITIES
Fed funds and other short-term borrowings:
Securities sold, not yet purchased$135 $— $— $135 
Other liabilities:
Derivatives— 260 — 260 
Total liabilities$135 $260 $— $395 
December 31, 2024
(In millions)Level 1Level 2Level 3Total
ASSETS
Trading securities$— $35 $— $35 
Available-for-sale securities:
U.S. Treasury, agencies, and corporations662 7,300 — 7,962 
Municipal securities— 1,108 — 1,108 
Other debt securities— 25 — 25 
Total available-for-sale662 8,433 — 9,095 
Loans held for sale— 25 — 25 
Other noninterest-bearing investments:
Bank-owned life insurance— 562 — 562 
Private equity investments 1
3 — 105 108 
Other assets:
Agriculture loan servicing— — 20 20 
Deferred compensation plan assets149 — — 149 
Derivatives— 446 — 446 
Total assets$814 $9,501 $125 $10,440 
LIABILITIES
Fed funds and other short-term borrowings:
Securities sold, not yet purchased$21 $— $— $21 
Other liabilities:
Derivatives— 350 — 350 
Total liabilities$21 $350 $— $371 
1 The level 1 PEIs generally relate to the portion of our SBIC investments and other similar investments that are publicly traded.
Schedule of Assets and Liabilities Measured At Fair Value By Class on a Recurring Basis Using Level 3 Inputs
The following schedule presents a roll-forward of assets and liabilities that are measured at fair value on a recurring basis using Level 3 inputs:
 Level 3 Instruments
December 31, 2025December 31, 2024December 31, 2023
(In millions)Private
equity
investments		Ag loan servicingPrivate
equity
investments		Ag loan servicingPrivate
equity
investments		Ag loan servicing
Balance at beginning of year$105 $20 $92 $19 $81 $14 
Unrealized securities gains (losses), net63 — 9 — (2)— 
Other noninterest income— (2)— 1 — 5 
Purchases15 — 11 — 14 — 
Cost of investments sold(13)— (7)— (1)— 
Transfers out(13)— — — — — 
Balance at end of year$157 $18 $105 $20 $92 $19 
Schedule of Realized Gain (Loss)
The roll-forward of Level 3 instruments includes the following realized gains and losses recognized in “Securities gains (losses), net” on the consolidated statement of income for the periods presented:
(In millions)Year Ended December 31,
202520242023
Securities gains (losses), net$(17)$1 $(1)
Schedule of Carrying Values and Estimated Fair Values of Financial Instruments
The following schedule presents the carrying values and estimated fair values of certain financial instruments:
 December 31, 2025December 31, 2024
(In millions)Carrying
value		Fair valueLevelCarrying
value		Fair valueLevel
Financial assets:
Held-to-maturity investment securities
$8,867 $8,940 2$9,669 $9,382 2
Loans and leases (including loans held for sale), net of allowance
60,440 59,383 358,788 57,130 3
Financial liabilities:
Time deposits9,907 9,839 211,482 11,468 2
Long-term debt1,472 1,506 2950 950 2