v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 3,827 $ 3,142
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Provision For Credit Losses 401 473
Depreciation, amortization and accretion 173 172
Deferred income taxes (benefit) 152 (58)
Net losses on sales of securities 111 2
Changes in fair value of mortgage servicing rights 185 328
Gain on Visa shares exchange program (448) 0
Net change in    
Trading securities and other short-term investments (187) (1,646)
Loans held for sale and related securitization activity 377 (955)
Other assets (285) 1,782
Accrued expenses and other liabilities (1,284) (2,395)
Other operating activities, net 1,053 126
Net cash provided (used) by operating activities 4,075 971
Sales    
Securities available-for-sale 11,977 1,331
Loans 403 293
Repayments/maturities    
Securities available-for-sale 4,406 3,392
Securities held-to-maturity 6,582 6,843
Purchases    
Securities available-for-sale (13,672) (9,045)
Securities held-to-maturity (11,066) (3,979)
Loans (1,128) (853)
Net change in federal funds sold and resale agreements 501 (188)
Other changes in loans, net (20,490) (9,812)
Net cash paid for acquisition [1] (80) 0
Other investing activities, net (3,079) (670)
Net cash provided (used) by investing activities (25,646) (12,688)
Net change in    
Noninterest-bearing deposits (2,282) 613
Interest-bearing deposits (11,862) (654)
Federal funds purchased and repurchase agreements (44) (36)
Short-term Federal Home Loan Bank advances 4,000 0
Other borrowed funds 198 149
Sales/issuances    
Federal Home Loan Bank advances 28,000 3,000
Senior debt 4,211 5,237
Subordinated debt 1,495 0
Common and treasury stock 34 34
Repayments/maturities    
Federal Home Loan Bank advances (6,000) (7,000)
Senior debt (4,250) (2,750)
Subordinated debt (71) (700)
Acquisition of treasury stock (1,418) (598)
Preferred stock cash dividends paid (158) (154)
Common stock cash dividends paid (1,387) (1,281)
Other financing activities, net 137 0
Net cash provided (used) by financing activities 10,603 (4,140)
Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash (10,968) (15,857)
Cash, cash equivalents and restricted cash at beginning of period 39,713 46,251
Cash, cash equivalents and restricted cash at end of period (b) [2] 28,745 30,394
Supplemental Disclosures (c)    
Interest paid [3] 5,138 5,511
Leased assets obtained in exchange for new operating lease liabilities [3] 331 149
Non-cash Investing And Financing Items    
Transfer from loans to loans held for sale, net 80 108
Transfer from loans to foreclosed assets 23 21
Common Stock, par value $5.00    
Non-cash Investing And Financing Items    
Common and Preferred stock issuances for acquisition 2,943 0
Preferred Stock    
Non-cash Investing And Financing Items    
Common and Preferred stock issuances for acquisition $ 119 $ 0
[1] Cash paid to acquire FirstBank was $1,238 million. The amount of $80 million represents the cash paid for the acquisition less $162 million in Cash and due from banks and $996 million in Interest-earning deposits with banks acquired from FirstBank. See Note 2 Acquisition Activity for more detailed information on the FirstBank acquisition.
[2] Includes restricted cash at end of period of $882 million and $992 million for the six months ended June 30, 2026 and 2025, respectively
[3] Disclosures of income taxes paid (net of refunds) are presented in the Income Taxes Note of our Form 10-K pursuant to our adoption of ASU 2023-09. See Note 1 Accounting Policies in our 2025 Form 10-K for additional information related to our adoption of this ASU.

Source

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