v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (177) $ (1,118) $ (79)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Provision for credit losses 184 1,092 833
Depreciation and amortization 148 184 165
Loss (gain) on business acquisition 0 121 (2,131)
Goodwill impairment 0 0 2,426
Stock-based compensation 61 54 47
Deferred tax benefit (63) (411) (187)
Other operating activities, net (250) 121 133
Decrease (increase) in other assets 171 282 (721)
Decrease in other liabilities (608) (769) (255)
Change in loans held for sale, net 353 530 32
Net cash (used in) provided by operating activities (181) 86 263
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from repayment of securities available-for-sale 2,517 2,099 1,402
Proceeds from sales of securities available-for-sale including loans that have been securitized 95 373 1,858
Purchases of securities available-for-sale (7,694) (3,440) (3,046)
Redemption of Federal Home Loan Bank stock 222 436 1,501
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock (49) (190) (1,626)
Net proceeds from sales of MSRs 0 1,418 50
Other changes in loans, net 7,644 14,772 (4,331)
Purchases of premises and equipment, net (67) (36) (66)
Other investing activities, net 19 21 30
Cash acquired in business acquisition 0 0 24,901
Net cash provided by investing activities 2,687 15,453 20,673
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net decrease in deposits (9,870) (5,671) (10,738)
Net increase (decrease) in short-term advances 250 (4,250) (550)
Proceeds from long-term debt issuances/advances 4,000 28,236 19,850
Repayments of long-term debt issuances/advances (6,500) (30,837) (19,374)
Cash dividends paid on common stock (15) (53) (486)
Cash dividends paid on preferred stock (33) (35) (33)
Proceeds from common stock issued, net 0 1,004 0
Other financing activities, net 80 17 (78)
Net cash used in financing activities (12,088) (11,589) (11,409)
Net increase (decrease) in cash, cash equivalents, and restricted cash (9,582) 3,950 9,527
Cash, cash equivalents, and restricted cash at beginning of year 15,559 [1] 11,609 [1] 2,082
Cash, cash equivalents, and restricted cash at end of year [1] 5,977 15,559 11,609
Supplemental information:      
Cash paid for interest 2,865 3,693 2,290
Non-cash investing and financing activities:      
Securitization of loans to mortgage-backed securities available-for-sale 0 267 222
Transfer of loans from held for investment to held for sale 347 8,610 163
Transfer of loans from held for sale to held for investment 33 0 0
Business Combinations:      
Fair value of tangible assets acquired 0 0 37,384
Intangible assets 0 0 464
Liabilities assumed 0 0 35,632
Issuance of FDIC Equity appreciation instrument 0 0 85
Restricted Stock Units (RSUs)      
Non-cash investing and financing activities:      
Shares issued for restricted stock awards $ 40 $ 10 $ 31
[1] Refer to Note 15 - Derivative and Hedging Activities for our reconciliation of cash, cash equivalents, and restricted cash.