v3.25.4
Federal, State, and Local Taxes - Schedule of Reconciliation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Statutory federal income tax at 21% $ (42) $ (289) $ (10)
State and local income taxes, net of federal income tax effect (2) (39) 8
Federal tax credits (7) (14) (31)
Non-deductible FDIC deposit insurance premiums 37 66 16
Non-taxable or deductible bargain gain 0 25 (447)
Non-taxable expense of bank-owned life insurance (10) (9) (9)
Tax exempt income (8) (8) (6)
Effect of tax deductibility of deferred compensation 3 3 (3)
Non-deductible executive compensation 7 0 0
Non-deductible goodwill impairment 0 0 509
Other 0 6 0
Other, net 1 (1) 2
Income tax (benefit)/expense reported in net income $ (21) $ (260) $ 29
Percent      
Statutory federal income tax at 21% 21.00% 20.90% 21.00%
State and local income taxes, net of federal income tax effect 1.10% 2.90% (16.50%)
Federal tax credits 3.40% 1.00% 63.80%
Non-deductible FDIC deposit insurance premiums (18.80%) (4.80%) (33.00%)
Non-taxable or deductible bargain gain 0.00% (1.80%) 909.00%
Non-taxable expense of bank-owned life insurance 5.20% 0.70% 18.50%
Tax exempt income 4.20% 0.60% 11.30%
Effect of tax deductibility of deferred compensation (1.40%) (0.20%) 6.20%
Non-deductible executive compensation (3.50%) 0.00% 0.00%
Non-deductible goodwill impairment 0.00% 0.00% (1035.10%)
Other 0.00% (0.50%) (0.80%)
Other, net (0.60%) 0.10% (4.00%)
Total income tax (benefit)/expense 10.60% 18.90% (59.60%)