Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 01, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | M&T BANK CORPORATION | |
Entity Central Index Key | 0000036270 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 166,854,421 | |
Entity File Number | 1-9861 | |
Entity Tax Identification Number | 16-0968385 | |
Entity Incorporation, State or Country Code | NY | |
Entity Address, Address Line One | One M&T Plaza | |
Entity Address, Postal Zip Code | 14203 | |
Entity Address, City or Town | Buffalo | |
Entity Address, State or Province | NY | |
City Area Code | 716 | |
Local Phone Number | 635-4000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | MTB | |
Title of 12(b) Security | Common Stock, $0.50 par value | |
Security Exchange Name | NYSE | |
Series H Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | MTBPrH | |
Title of 12(b) Security | Perpetual Fixed-to-Floating RateNon-Cumulative Preferred Stock, Series H | |
Security Exchange Name | NYSE |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and due from banks | $ 1,695 | $ 1,731 |
Interest-bearing deposits at banks | 32,144 | 28,069 |
Trading account | 99 | 106 |
Investment securities | ||
Available for sale (cost: $12,396 at March 31, 2024; $10,691 at December 31, 2023) | 12,134 | 10,440 |
Held to maturity (fair value: $13,865 at March 31, 2024; $14,308 at December 31, 2023) | 15,078 | 15,330 |
Equity and other securities (cost: $1,279 at March 31, 2024; $1,125 at December 31, 2023) | 1,284 | 1,127 |
Total investment securities | 28,496 | 26,897 |
Loans and leases, net of unearned discount of $928 at March 31, 2024 and $868 at December 31, 2023 | 134,973 | 134,068 |
Allowance for credit losses | (2,191) | (2,129) |
Loans and leases, net | 132,782 | 131,939 |
Premises and equipment | 1,707 | 1,739 |
Goodwill | 8,465 | 8,465 |
Core deposit and other intangible assets | 132 | 147 |
Accrued interest and other assets | 9,617 | 9,171 |
Total assets | 215,137 | 208,264 |
Liabilities | ||
Noninterest-bearing deposits | 50,578 | 49,294 |
Savings and interest-checking deposits | 96,339 | 93,221 |
Time deposits | 20,279 | 20,759 |
Total deposits | 167,196 | 163,274 |
Short-term borrowings | 4,795 | 5,316 |
Accrued interest and other liabilities | 4,527 | 4,516 |
Long-term borrowings | 11,450 | 8,201 |
Total liabilities | 187,968 | 181,307 |
Shareholders' equity | ||
Preferred stock, $1.00 par, 20,000,000 shares authorized; Issued and outstanding: Liquidation preference of $1,000 per share: 350,000 shares at March 31, 2024 and December 31, 2023; Liquidation preference of $10,000 per share: 140,000 shares at March 31, 2024 and December 31, 2023; Liquidation preference of $25 per share: 10,000,000 shares at March 31, 2024 and December 31, 2023 | 2,011 | 2,011 |
Common stock, $0.50 par, 250,000,000 shares authorized, 179,436,779 shares issued at March 31, 2024 and December 31, 2023 | 90 | 90 |
Common stock issuable, [11,458] shares at March 31, 2024; 12,217 shares at December 31, 2023 | 1 | 1 |
Additional paid-in capital | 9,976 | 10,020 |
Retained earnings | 17,812 | 17,524 |
Accumulated other comprehensive income (loss), net | (589) | (459) |
Treasury stock - common, at cost - [12,724,121] shares at March 31, 2024; 13,300,298 shares at December 31, 2023 | (2,132) | (2,230) |
Total shareholders’ equity | 27,169 | 26,957 |
Total liabilities and shareholders’ equity | $ 215,137 | $ 208,264 |
Consolidated Balance Sheet (U_2
Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Investment securities, available for sale, amortized cost | $ 12,397 | $ 10,691 |
Investment securities, held to maturity, fair value | 13,865 | 14,308 |
Equity and other securities, cost | 1,279 | 1,125 |
Loans and leases, unearned discount | $ 928 | $ 868 |
Preferred stock, par value | $ 1 | $ 1 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 10,000,000 | 10,000,000 |
Preferred stock, liquidation preference per share | $ 25 | $ 25 |
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 179,436,779 | 179,436,779 |
Common stock issuable, shares | 11,458 | 12,217 |
Treasury stock, common shares | 12,724,121 | 13,300,298 |
Series A Series C Series And E Preferred Stock [Member] | ||
Preferred stock, shares issued | 350,000 | 350,000 |
Preferred stock, shares outstanding | 350,000 | 350,000 |
Preferred stock, liquidation preference per share | $ 1,000 | $ 1,000 |
Series F And Series G Preferred Stock [Member] | ||
Preferred stock, shares issued | 140,000 | 140,000 |
Preferred stock, shares outstanding | 140,000 | 140,000 |
Preferred stock, liquidation preference per share | $ 10,000 | $ 10,000 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest income | ||
Loans and leases, including fees | $ 2,097 | $ 1,850 |
Investment securities | ||
Fully taxable | 212 | 181 |
Exempt from federal taxes | 16 | 17 |
Deposits at banks | 419 | 278 |
Other | 1 | 1 |
Total interest income | 2,745 | 2,327 |
Interest expense | ||
Savings and interest-checking deposits | 615 | 277 |
Time deposits | 225 | 89 |
Short-term borrowings | 84 | 58 |
Long-term borrowings | 141 | 85 |
Total interest expense | 1,065 | 509 |
Net interest income | 1,680 | 1,818 |
Provision for credit losses | 200 | 120 |
Net interest income after provision for credit losses | 1,480 | 1,698 |
Other income | ||
Brokerage services income | 29 | 24 |
Trading account and other non-hedging derivative gains | 9 | 12 |
Gain (loss) on bank investment securities | 2 | |
Other revenues from operations | 152 | 159 |
Total other income | 580 | 587 |
Other expense | ||
Salaries and employee benefits | 833 | 808 |
Equipment and net occupancy | 129 | 127 |
Outside data processing and software | 120 | 106 |
Professional and other services | 85 | 125 |
FDIC assessments | 60 | 30 |
Advertising and marketing | 20 | 31 |
Amortization of core deposit and other intangible assets | 15 | 17 |
Other costs of operations | 134 | 115 |
Total other expense | 1,396 | 1,359 |
Income before taxes | 664 | 926 |
Income taxes | 133 | 224 |
Net income | 531 | 702 |
Net income available to common shareholders | ||
Basic | 505 | 676 |
Diluted | $ 505 | $ 676 |
Net income per common share | ||
Basic | $ 3.04 | $ 4.03 |
Diluted | $ 3.02 | $ 4.01 |
Average common shares outstanding | ||
Basic | 166,460 | 167,732 |
Diluted | 167,084 | 168,410 |
Mortgage Banking Revenues [Member] | ||
Other income | ||
Revenue from contract with customer | $ 104 | $ 85 |
Service Charges on Deposit Accounts [Member] | ||
Other income | ||
Revenue from contract with customer | 124 | 113 |
Trust Income [Member] | ||
Other income | ||
Revenue from contract with customer | $ 160 | $ 194 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statement of Partners' Capital [Abstract] | ||
Net Income (Loss) | $ 531 | $ 702 |
Other comprehensive income (loss), net of tax and reclassification adjustments: | ||
Net unrealized gains (losses) on investment securities | (10) | 65 |
Cash flow hedges adjustments | (117) | 81 |
Defined benefit plans liability adjustments | (1) | (2) |
Foreign currency translation adjustments | (2) | 1 |
Total other comprehensive income (loss) | (130) | 145 |
Total comprehensive income | $ 401 | $ 847 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities | ||
Net Income (Loss) | $ 531 | $ 702 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 200 | 120 |
Depreciation and amortization of premises and equipment | 80 | 76 |
Amortization of capitalized servicing rights | 35 | 20 |
Amortization of core deposit and other intangible assets | 15 | 17 |
Provision for deferred income taxes | 2 | 11 |
Asset write-downs | 6 | 1 |
Net gain on sales of assets | (1) | (12) |
Net change in accrued interest receivable, payable | 27 | 55 |
Net change in other accrued income and expense | (74) | (43) |
Net change in loans originated for sale | (352) | (274) |
Net change in trading account and other non-hedging derivative assets and liabilities | 139 | (245) |
Net cash provided by operating activities | 608 | 428 |
Cash flows from investing activities | ||
Proceeds from sales of investment securities available for sale | 4 | |
Proceeds from sales of investment securities equity and other | 110 | 521 |
Proceeds from maturities of investment securities Available for sale | 1,989 | 141 |
Proceeds from maturities of investment securities Held to maturity | 257 | 281 |
Purchases of investment securities Available for sale | (4,145) | (337) |
Purchases of investment securities Held to maturity | (2,948) | |
Purchases of investment securities equity and other | (264) | (792) |
Net increase in loans and leases | (724) | (1,166) |
Net (increase) decrease in interest-bearing deposits at banks | (4,075) | 2,652 |
Capital expenditures, net | (35) | (55) |
Net decrease in loan servicing advances | 81 | 207 |
Other, net | (280) | (251) |
Net cash used by investing activities | (7,082) | (1,747) |
Cash flows from financing activities | ||
Net increase (decrease) in deposits | 3,921 | (4,441) |
Net increase (decrease) in short-term borrowings | (521) | 3,440 |
Proceeds from long-term borrowings | 3,357 | 3,486 |
Payments on long-term borrowings | (49) | |
Purchases of treasury stock | (594) | |
Dividends paid — common | (221) | (221) |
Dividends paid — preferred | (34) | (34) |
Other, net | (15) | (19) |
Net cash provided by financing activities | 6,438 | 1,617 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (36) | 298 |
Cash, cash equivalents and restricted cash at beginning of period | 1,731 | 1,520 |
Cash, cash equivalents and restricted cash at end of period | 1,695 | 1,818 |
Supplemental disclosure of cash flow information | ||
Interest received during the period | 2,716 | 2,289 |
Interest paid during the period | 999 | 410 |
Income taxes paid during the period | 41 | 22 |
Supplemental schedule of noncash investing and financing activities | ||
Real estate acquired in settlement of loans | 19 | 7 |
Additions to right-of-use assets under operating leases | $ 19 | $ 31 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Common Stock Issuable [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), Net [Member] | Treasury Stock [Member] | |
Beginning balance at Dec. 31, 2022 | $ 25,318 | $ 2,011 | $ 90 | $ 1 | $ 10,002 | $ 15,754 | $ (790) | $ (1,750) | |
Total comprehensive income | 847 | 702 | 145 | ||||||
Preferred stock cash dividends | [1] | (25) | (25) | ||||||
Purchases of treasury stock | (600) | (600) | |||||||
Stock-based compensation transactions, net | 55 | (16) | (1) | 72 | |||||
Common stock cash dividends | (218) | (218) | |||||||
Ending balance at Mar. 31, 2023 | 25,377 | 2,011 | 90 | 1 | 9,986 | 16,212 | (645) | (2,278) | |
Beginning balance at Dec. 31, 2023 | 26,957 | 2,011 | 90 | 1 | 10,020 | 17,524 | (459) | (2,230) | |
Total comprehensive income | 401 | 531 | (130) | ||||||
Preferred stock cash dividends | [1] | (25) | (25) | ||||||
Stock-based compensation transactions, net | 54 | (44) | 98 | ||||||
Common stock cash dividends | (218) | (218) | |||||||
Ending balance at Mar. 31, 2024 | $ 27,169 | $ 2,011 | $ 90 | $ 1 | $ 9,976 | $ 17,812 | $ (589) | $ (2,132) | |
[1] For the three-month periods ended March 31, 2024 and 2023 , dividends per preferred share were: Preferred Series E - $ 16.125 ; Preferred Series F - $ 128.125 ; Preferred Series G - $ 125.00 ; Preferred Series H - $ 0.3516 ; and Preferred Series I - $ 87.50 . |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Preferred Series E [Member] | ||
Preferred stock per share dividend amount | $ 16.125 | $ 16.125 |
Preferred Series F [Member] | ||
Preferred stock per share dividend amount | 128.125 | 128.125 |
Preferred Series G [Member] | ||
Preferred stock per share dividend amount | 125 | 125 |
Preferred Series H [Member] | ||
Preferred stock per share dividend amount | 0.3516 | 0.3516 |
Preferred Series I [Member] | ||
Preferred stock per share dividend amount | 87.5 | 87.5 |
Retained Earnings [Member] | ||
Common stock per share dividend amount | $ 1.3 | $ 1.3 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Pay vs Performance Disclosure | ||
Net Income (Loss) | $ 531 | $ 702 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Significant accounting policies
Significant accounting policies | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Significant accounting policies | 1. Significant accounting policies The consolidated interim financial statements of the Company were compiled in accordance with GAAP using the accounting policies set forth in note 1 of Notes to Financial Statements included in the 2023 Annual Report, except as described in the following table. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented. Recent accounting developments Standard Description Required date of adoption Effect on consolidated financial statements Standards Adopted in 2024 Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method The amendments permit an election to account for tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the income tax credits and other income tax benefits received and the net amortization and income tax credits and other income tax benefits are recognized in the income statement as a component of income tax expense (benefit). January 1, 2024 As described in note 11, the Company adopted the amended guidance effective January 1, 2024 using a modified retrospective transition. The guidance did not have a material impact on the Company’s consolidated financial statements. |
Divestiture
Divestiture | 3 Months Ended |
Mar. 31, 2024 | |
Business Combinations [Abstract] | |
Divestiture | 2. Divestiture On April 29, 2023, the Company sold its CIT business to a private equity firm. The transaction resulted in a pre-tax gain of $ 225 million ($ 157 million after-tax effect) that has been included in “other revenues from operations” in the Consolidated Statement of Income in the second quarter of 2023. Prior to the sale, the CIT business contributed $ 45 million to trust income in the three months ended March 31, 2023. After considering expenses, the results of operations from the CIT business were not material to the Company's consolidated results of operations in that period. |
Investment securities
Investment securities | 3 Months Ended |
Mar. 31, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment securities | 3. Investment securities The amortized cost and estimated fair value of investment securities were as follows: (Dollars in millions) Amortized Gross Gross Estimated March 31, 2024 Investment securities available for sale: U.S. Treasury and federal agencies $ 7,818 $ — $ 99 $ 7,719 Mortgage-backed securities: Government issued or guaranteed: Commercial 1,355 1 13 1,343 Residential 3,053 — 143 2,910 Other debt securities 171 — 9 162 12,397 1 264 12,134 Investment securities held to maturity: U.S. Treasury and federal agencies 1,007 — 33 974 Obligations of states and political subdivisions 2,466 — 94 2,372 Mortgage-backed securities: Government issued or guaranteed: Commercial 2,035 — 154 1,881 Residential 9,527 — 935 8,592 Privately issued 41 9 6 44 Other debt securities 2 — — 2 15,078 9 1,222 13,865 Total debt securities $ 27,475 $ 10 $ 1,486 $ 25,999 Equity and other securities: Readily marketable equity — at fair value $ 351 $ 8 $ 3 $ 356 Other — at cost 928 — — 928 Total equity and other securities $ 1,279 $ 8 $ 3 $ 1,284 December 31, 2023 Investment securities available for sale: U.S. Treasury and federal agencies $ 7,818 $ — $ 113 $ 7,705 Mortgage-backed securities: Government issued or guaranteed: Commercial 425 — 9 416 Residential 2,272 — 118 2,154 Other debt securities 176 — 11 165 10,691 — 251 10,440 Investment securities held to maturity: U.S. Treasury and federal agencies 1,005 — 31 974 Obligations of states and political subdivisions 2,501 — 67 2,434 Mortgage-backed securities: Government issued or guaranteed: Commercial 2,033 — 130 1,903 Residential 9,747 4 802 8,949 Privately issued 42 9 5 46 Other debt securities 2 — — 2 15,330 13 1,035 14,308 Total debt securities $ 26,021 $ 13 $ 1,286 $ 24,748 Equity and other securities: Readily marketable equity — at fair value $ 266 $ 5 $ 3 $ 268 Other — at cost 859 — — 859 Total equity and other securities $ 1,125 $ 5 $ 3 $ 1,127 3. Investment securities, continued There were no significant gross realized gains or losses from sales of investment securities for the three-month periods ended March 31, 2024 and 2023. Unrealized losses on equity securities are included in "gain (loss) on bank investment securities" in the Consolidated Statement of Income. At March 31, 2024, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows: (Dollars in millions) Amortized Estimated Debt securities available for sale: Due in one year or less $ 3,248 $ 3,209 Due after one year through five years 4,691 4,628 Due after five years through ten years 50 44 Due after ten years — — 7,989 7,881 Mortgage-backed securities 4,408 4,253 $ 12,397 $ 12,134 Debt securities held to maturity: Due in one year or less $ 588 $ 575 Due after one year through five years 635 611 Due after five years through ten years 1,369 1,333 Due after ten years 883 829 3,475 3,348 Mortgage-backed securities 11,603 10,517 $ 15,078 $ 13,865 3. Investment securities, continued A summary of investment securities that as of March 31, 2024 and December 31, 2023 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows: Less Than 12 Months 12 Months or More (Dollars in millions) Fair Unrealized Fair Unrealized March 31, 2024 Investment securities available for sale: U.S. Treasury and federal agencies $ 2,242 $ 10 $ 5,177 $ 89 Mortgage-backed securities: Government issued or guaranteed: Commercial 765 6 393 7 Residential 813 6 1,964 137 Other debt securities — — 156 9 3,820 22 7,690 242 Investment securities held to maturity: U.S. Treasury and federal agencies 49 1 925 32 Obligations of states and political subdivisions 43 — 2,284 94 Mortgage-backed securities: Government issued or guaranteed: Commercial 172 9 1,709 145 Residential 1,133 12 7,459 923 Privately issued — — 33 6 1,397 22 12,410 1,200 Total $ 5,217 $ 44 $ 20,100 $ 1,442 December 31, 2023 Investment securities available for sale: U.S. Treasury and federal agencies $ 229 $ 1 $ 7,474 $ 112 Mortgage-backed securities: Government issued or guaranteed: Commercial 74 1 330 8 Residential 151 2 1,959 116 Other debt securities 6 — 154 11 460 4 9,917 247 Investment securities held to maturity: U.S. Treasury and federal agencies 50 — 924 31 Obligations of states and political subdivisions 218 3 2,172 64 Mortgage-backed securities: Government issued or guaranteed: Commercial 328 9 1,575 121 Residential 955 11 7,139 791 Privately issued — — 34 5 1,551 23 11,844 1,012 Total $ 2,011 $ 27 $ 21,761 $ 1,259 3. Investment securities, continued The Company owned 4,088 individual debt securities with aggregate gross unrealized losses of $ 1.5 billion at March 31, 2024. Based on a review of each of the securities in the investment securities portfolio at March 31, 2024, the Company concluded that it expected to recover the amortized cost basis of its investment. As of March 31, 2024, the Company does not intend to sell, nor is it anticipated that it would be required to sell, any of its impaired investment securities at a loss. At March 31, 2024 , the Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of the $ 928 million of cost method equity securities. The Company estimated no material allowance for credit losses for its investment securities classified as held-to-maturity at March 31, 2024 or December 31, 2023. At March 31, 2024 and December 31, 2023 , investment securities with carrying values of $ 9.6 billion (including $ 357 million related to repurchase transactions) and $ 8.2 billion (including $ 393 million related to repurchase transactions), respectively, were pledged to secure borrowings, lines of credit and governmental deposits. |
Loans and leases and the allowa
Loans and leases and the allowance for credit losses | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Loans and leases and the allowance for credit losses | 4. Loans and leases and the allowance for credit losses A summary of current, past due and nonaccrual loans as of March 31, 2024 and December 31, 2023 follows: (Dollars in millions) Current 30-89 Days Accruing Past Nonaccrual Total March 31, 2024 Commercial and industrial $ 56,803 $ 219 $ 11 $ 864 $ 57,897 Real estate: Commercial (a) 24,119 163 31 855 25,168 Residential builder and developer 984 48 — 3 1,035 Other commercial construction 5,915 155 2 141 6,213 Residential (b) 21,118 627 245 202 22,192 Residential — limited documentation 801 30 — 53 884 Consumer: Home equity lines and loans 4,437 34 — 87 4,558 Recreational finance 10,553 71 — 30 10,654 Automobile 4,252 43 — 13 4,308 Other 1,982 20 8 54 2,064 Total $ 130,964 $ 1,410 $ 297 $ 2,302 $ 134,973 December 31, 2023 Commercial and industrial $ 56,091 $ 238 $ 11 $ 670 $ 57,010 Real estate: Commercial (a) 24,072 311 25 869 25,277 Residential builder and developer 1,065 5 — 3 1,073 Other commercial construction 6,322 159 1 171 6,653 Residential (b) 21,080 763 295 215 22,353 Residential — limited documentation 825 31 — 55 911 Consumer: Home equity lines and loans 4,528 40 — 81 4,649 Recreational finance 9,935 87 — 36 10,058 Automobile 3,918 60 — 14 3,992 Other 2,003 30 7 52 2,092 Total $ 129,839 $ 1,724 $ 339 $ 2,166 $ 134,068 (a) Commercial real estate loans held for sale were $ 563 million at March 31, 2024 and $ 189 million at December 31, 2023. (b) One-to-four family residential mortgage loans held for sale were $ 165 million at March 31, 2024 and $ 190 million at December 31, 2023 . 4. Loans and leases and the allowance for credit losses, continued Credit quality indicators The Company utilizes a loan grading system to differentiate risk amongst its commercial and industrial loans and commercial real estate loans. Loans with a lower expectation of default are assigned one of ten possible “pass” loan grades and are generally ascribed lower loss factors when determining the allowance for credit losses. Loans with an elevated level of credit risk are classified as “criticized” and are ascribed a higher loss factor when determining the allowance for credit losses. Criticized loans may be classified as “nonaccrual” if the Company no longer expects to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days or more. Line of business personnel in different geographic locations with support from and review by the Company’s credit risk personnel review and reassign loan grades based on their detailed knowledge of individual borrowers and their judgment of the impact on such borrowers resulting from changing conditions in their respective regions. Factors considered in assigning loan grades include borrower-specific information related to expected future cash flows and operating results, collateral values, geographic location, financial condition and performance, payment status, and other information. The Company’s policy is that at least annually, updated financial information be obtained from commercial borrowers associated with pass grade loans and additional analysis performed. On a quarterly basis, the Company’s credit personnel review all criticized commercial and industrial loans and commercial real estate loans greater than $ 5 million to determine the appropriateness of the assigned loan grade, including whether the loan should be reported as accruing or nonaccruing. The following table summarizes the loan grades applied at March 31, 2024 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans and gross charge-offs for those types of loans for the three-month period ended March 31, 2024 by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2024 2023 2022 2021 2020 Prior Loans Loans Total Commercial and industrial: Pass $ 2,012 $ 8,129 $ 7,567 $ 4,441 $ 2,099 $ 6,456 $ 22,719 $ 74 $ 53,497 Criticized accrual 32 306 422 277 117 602 1,745 35 3,536 Criticized nonaccrual 2 54 89 62 71 206 364 16 864 Total commercial and industrial $ 2,046 $ 8,489 $ 8,078 $ 4,780 $ 2,287 $ 7,264 $ 24,828 $ 125 $ 57,897 Gross charge-offs $ — $ 7 $ 9 $ 4 $ 3 $ 5 $ 50 $ — $ 78 Real estate: Commercial: Pass $ 696 $ 1,783 $ 1,652 $ 1,331 $ 2,013 $ 11,278 $ 435 $ — $ 19,188 Criticized accrual — 273 815 464 558 3,008 7 — 5,125 Criticized nonaccrual — — 46 11 101 695 2 — 855 Total commercial real estate $ 696 $ 2,056 $ 2,513 $ 1,806 $ 2,672 $ 14,981 $ 444 $ — $ 25,168 Gross charge-offs $ — $ — $ — $ — $ — $ 13 $ — $ — $ 13 Residential builder and Pass $ 89 $ 509 $ 187 $ 34 $ 5 $ 14 $ 102 $ — $ 940 Criticized accrual — 2 21 21 — 46 2 — 92 Criticized nonaccrual — — — 2 — 1 — — 3 Total residential builder $ 89 $ 511 $ 208 $ 57 $ 5 $ 61 $ 104 $ — $ 1,035 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ 1 Other commercial construction: Pass $ 27 $ 990 $ 1,231 $ 590 $ 273 $ 589 $ 45 $ — $ 3,745 Criticized accrual — 75 538 460 567 687 — — 2,327 Criticized nonaccrual — — 11 10 45 75 — — 141 Total other commercial $ 27 $ 1,065 $ 1,780 $ 1,060 $ 885 $ 1,351 $ 45 $ — $ 6,213 Gross charge-offs $ — $ — $ 2 $ — $ — $ 7 $ 2 $ — $ 11 4. Loans and leases and the allowance for credit losses, continued The Company considers repayment performance a significant indicator of credit quality for its residential real estate loan and consumer loan portfolios. A summary of loans in accrual and nonaccrual status at March 31, 2024 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the three-month period ended March 31, 2024 by origination year follows: Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2024 2023 2022 2021 2020 Prior Loans Loans Total Residential: Current $ 478 $ 1,499 $ 4,667 $ 3,717 $ 2,533 $ 8,131 $ 93 $ — $ 21,118 30-89 days past due — 6 107 62 30 422 — — 627 Accruing loans past due — 2 21 19 15 188 — — 245 Nonaccrual — 1 15 10 2 173 1 — 202 Total residential $ 478 $ 1,508 $ 4,810 $ 3,808 $ 2,580 $ 8,914 $ 94 $ — $ 22,192 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ 1 Residential - limited documentation: Current $ — $ — $ — $ — $ — $ 801 $ — $ — $ 801 30-89 days past due — — — — — 30 — — 30 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 53 — — 53 Total residential - limited $ — $ — $ — $ — $ — $ 884 $ — $ — $ 884 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer: Home equity lines and loans: Current $ — $ — $ — $ 2 $ 2 $ 105 $ 2,972 $ 1,356 $ 4,437 30-89 days past due — — — — — 3 — 31 34 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 5 1 81 87 Total home equity lines and loans $ — $ — $ — $ 2 $ 2 $ 113 $ 2,973 $ 1,468 $ 4,558 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 1 $ 1 Recreational finance: Current $ 1,028 $ 2,531 $ 2,252 $ 1,790 $ 1,233 $ 1,719 $ — $ — $ 10,553 30-89 days past due 1 11 12 14 13 20 — — 71 Accruing loans past due — — — — — — — — — Nonaccrual — 4 6 6 4 10 — — 30 Total recreational finance $ 1,029 $ 2,546 $ 2,270 $ 1,810 $ 1,250 $ 1,749 $ — $ — $ 10,654 Gross charge-offs $ — $ 3 $ 5 $ 6 $ 4 $ 7 $ — $ — $ 25 Automobile: Current $ 684 $ 1,026 $ 1,004 $ 942 $ 371 $ 225 $ — $ — $ 4,252 30-89 days past due 1 7 11 11 6 7 — — 43 Accruing loans past due — — — — — — — — — Nonaccrual — 2 2 3 2 4 — — 13 Total automobile $ 685 $ 1,035 $ 1,017 $ 956 $ 379 $ 236 $ — $ — $ 4,308 Gross charge-offs $ — $ 2 $ 2 $ 2 $ 1 $ 1 $ — $ — $ 8 Other: Current $ 69 $ 219 $ 155 $ 105 $ 28 $ 27 $ 1,378 $ 1 $ 1,982 30-89 days past due 1 1 3 1 — 1 12 1 20 Accruing loans past due — — — — — — 8 — 8 Nonaccrual 1 1 1 — — — 51 — 54 Total other $ 71 $ 221 $ 159 $ 106 $ 28 $ 28 $ 1,449 $ 2 $ 2,064 Gross charge-offs $ 1 $ 3 $ 3 $ 1 $ 1 $ — $ 16 $ — $ 25 Total loans and leases at $ 5,121 $ 17,431 $ 20,835 $ 14,385 $ 10,088 $ 35,581 $ 29,937 $ 1,595 $ 134,973 Total gross charge-offs for $ 1 $ 15 $ 21 $ 13 $ 9 $ 35 $ 68 $ 1 $ 163 4. Loans and leases and the allowance for credit losses, continued The following table summarizes the loan grades applied at December 31, 2023 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2023 2022 2021 2020 2019 Prior Loans Loans Total Commercial and industrial: Pass $ 8,689 $ 8,087 $ 4,800 $ 2,248 $ 2,169 $ 4,843 $ 22,345 $ 70 $ 53,251 Criticized accrual 292 279 277 142 127 481 1,460 31 3,089 Criticized nonaccrual 29 68 56 75 36 150 243 13 670 Total commercial and industrial $ 9,010 $ 8,434 $ 5,133 $ 2,465 $ 2,332 $ 5,474 $ 24,048 $ 114 $ 57,010 Real estate: Commercial: Pass $ 2,048 $ 1,742 $ 1,367 $ 2,011 $ 3,059 $ 8,491 $ 440 $ — $ 19,158 Criticized accrual 227 891 465 456 966 2,238 7 — 5,250 Criticized nonaccrual — 46 3 113 93 611 3 — 869 Total commercial real estate $ 2,275 $ 2,679 $ 1,835 $ 2,580 $ 4,118 $ 11,340 $ 450 $ — $ 25,277 Residential builder and Pass $ 530 $ 252 $ 41 $ 6 $ 2 $ 12 $ 116 $ — $ 959 Criticized accrual 1 18 30 — 59 — 3 — 111 Criticized nonaccrual — — 3 — — — — — 3 Total residential builder $ 531 $ 270 $ 74 $ 6 $ 61 $ 12 $ 119 $ — $ 1,073 Other commercial construction: Pass $ 813 $ 1,366 $ 651 $ 373 $ 646 $ 187 $ 30 $ — $ 4,066 Criticized accrual 53 391 390 691 565 326 — — 2,416 Criticized nonaccrual — 14 10 46 50 49 2 — 171 Total other commercial $ 866 $ 1,771 $ 1,051 $ 1,110 $ 1,261 $ 562 $ 32 $ — $ 6,653 4. Loans and leases and the allowance for credit losses, continued A summary of loans in accrual and nonaccrual status at December 31, 2023 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows: Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2023 2022 2021 2020 2019 Prior Loans Loans Total Residential: Current $ 1,726 $ 4,709 $ 3,732 $ 2,543 $ 1,215 $ 7,060 $ 95 $ — $ 21,080 30-89 days past due 18 120 88 52 28 457 — — 763 Accruing loans past due 1 30 28 17 14 205 — — 295 Nonaccrual 1 17 10 3 4 179 1 — 215 Total residential $ 1,746 $ 4,876 $ 3,858 $ 2,615 $ 1,261 $ 7,901 $ 96 $ — $ 22,353 Residential - limited Current $ — $ — $ — $ — $ — $ 825 $ — $ — $ 825 30-89 days past due — — — — — 31 — — 31 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 55 — — 55 Total residential - limited $ — $ — $ — $ — $ — $ 911 $ — $ — $ 911 Consumer: Home equity lines and loans: Current $ — $ — $ 2 $ 2 $ 13 $ 98 $ 3,022 $ 1,391 $ 4,528 30-89 days past due — — — — — 3 — 37 40 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 5 3 73 81 Total home equity lines and $ — $ — $ 2 $ 2 $ 13 $ 106 $ 3,025 $ 1,501 $ 4,649 Recreational finance: Current $ 2,653 $ 2,338 $ 1,857 $ 1,286 $ 781 $ 1,020 $ — $ — $ 9,935 30-89 days past due 11 16 19 14 11 16 — — 87 Accruing loans past due — — — — — — — — — Nonaccrual 3 5 8 6 5 9 — — 36 Total recreational finance $ 2,667 $ 2,359 $ 1,884 $ 1,306 $ 797 $ 1,045 $ — $ — $ 10,058 Automobile: Current $ 1,063 $ 1,096 $ 1,047 $ 427 $ 198 $ 87 $ — $ — $ 3,918 30-89 days past due 8 15 17 9 6 5 — — 60 Accruing loans past due — — — — — — — — — Nonaccrual 2 3 3 2 2 2 — — 14 Total automobile $ 1,073 $ 1,114 $ 1,067 $ 438 $ 206 $ 94 $ — $ — $ 3,992 Other: Current $ 250 $ 176 $ 118 $ 33 $ 13 $ 18 $ 1,392 $ 3 $ 2,003 30-89 days past due 3 3 2 — — 1 20 1 30 Accruing loans past due — — — — — — 7 — 7 Nonaccrual 2 1 1 — — — 48 — 52 Total other $ 255 $ 180 $ 121 $ 33 $ 13 $ 19 $ 1,467 $ 4 $ 2,092 Total loans and leases at $ 18,423 $ 21,683 $ 15,025 $ 10,555 $ 10,062 $ 27,464 $ 29,237 $ 1,619 $ 134,068 4. Loans and leases and the allowance for credit losses, continued Allowance for credit losses For purposes of determining the level of the allowance for credit losses, the Company evaluates its loan and lease portfolio by type. Changes in the allowance for credit losses for the three months ended March 31, 2024 and 2023 were as follows: Commercial and Real Estate (Dollars in millions) industrial Commercial Residential Consumer Total Three Months Ended March 31, 2024 Beginning balance $ 620 $ 764 $ 116 $ 629 $ 2,129 Provision for credit losses 137 9 2 52 200 Net charge-offs: Charge-offs ( 78 ) ( 25 ) ( 1 ) ( 59 ) ( 163 ) Recoveries 5 6 1 13 25 Net charge-offs ( 73 ) ( 19 ) — ( 46 ) ( 138 ) Ending balance $ 684 $ 754 $ 118 $ 635 $ 2,191 Three Months Ended March 31, 2023 Beginning balance $ 568 $ 611 $ 115 $ 631 $ 1,925 Provision for credit losses 21 86 ( 1 ) 14 120 Net charge-offs: Charge-offs ( 20 ) ( 29 ) ( 2 ) ( 44 ) ( 95 ) Recoveries 10 1 1 13 25 Net charge-offs ( 10 ) ( 28 ) ( 1 ) ( 31 ) ( 70 ) Ending balance $ 579 $ 669 $ 113 $ 614 $ 1,975 Despite the allocation in the preceding tables, the allowance for credit losses is general in nature and is available to absorb losses from any loan or lease type. In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. The Company utilizes statistically developed models to project principal balances over the remaining contractual lives of the loan portfolios and to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators, including loan grade and borrower repayment performance, can inform the models, which have been statistically developed based on historical correlations of credit losses with prevailing economic metrics, including unemployment, GDP and real estate prices. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At each of March 31, 2024 and December 31, 2023, the Company utilized a reasonable and supportable forecast period of two years. Subsequent to this forecast period the Company reverted, ratably over a one-year period, to historical loss experience to inform its estimate of losses for the remaining contractual life of each portfolio. 4. Loans and leases and the allowance for credit losses, continued The Company also estimates losses attributable to specific troubled credits identified through both normal and targeted credit review processes. The amounts of specific loss components in the Company’s loan and lease portfolios are determined through a loan-by-loan analysis of larger balance commercial and industrial loans and commercial real estate loans that are in nonaccrual status. Such loss estimates are typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. To the extent that those loans are collateral-dependent, they are evaluated based on the fair value of the loan’s collateral as estimated at or near the financial statement date. As the quality of a loan deteriorates to the point of classifying the loan as “criticized,” the process of obtaining updated collateral valuation information is usually initiated, unless it is not considered warranted given factors such as the relative size of the loan, the characteristics of the collateral or the age of the last valuation. In those cases where current appraisals may not yet be available, prior appraisals are utilized with adjustments, as deemed necessary, for estimates of subsequent declines in values as determined by line of business and/or loan workout personnel. Those adjustments are reviewed and assessed for reasonableness by the Company’s credit risk personnel. Accordingly, for real estate collateral securing larger nonaccrual commercial and industrial loans and commercial real estate loans, estimated collateral values are based on current appraisals and estimates of value. For non-real estate loans, collateral is assigned a discounted estimated liquidation value and, depending on the nature of the collateral, is verified through field exams or other procedures. In assessing collateral, real estate and non-real estate values are reduced by an estimate of selling costs. For residential real estate loans, including home equity loans and lines of credit, the excess of the loan balance over the net realizable value of the property collateralizing the loan is charged-off when the loan becomes 150 days delinquent. That charge-off is based on recent indications of value from external parties that are generally obtained shortly after a loan becomes nonaccrual. Loans to consumers that file for bankruptcy are generally charged-off to estimated net collateral value shortly after the Company is notified of such filings. When evaluating individual home equity loans and lines of credit for charge-off and for purposes of estimating losses in determining the allowance for credit losses, the Company gives consideration to the required repayment of any first lien positions related to collateral property. Changes in the amount of the allowance for credit losses reflect the outcome of the procedures described herein, including the impact of changes in macroeconomic forecasts as compared with previous forecasts, as well as the impact of portfolio concentrations, imprecision in economic forecasts, geopolitical conditions and other risk factors that might influence the loss estimation process. The Company’s reserve for off-balance sheet credit exposures was not material at March 31, 2024 and December 31, 2023. 4. Loans and leases and the allowance for credit losses, continued Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the three-month periods ended March 31, 2024 and 2023 follows: Amortized Cost with Allowance Amortized Cost without Allowance Total Amortized Cost Interest Income Recognized (Dollars in millions) March 31, 2024 January 1, 2024 Three Months Ended March 31, Commercial and industrial $ 590 $ 274 $ 864 $ 670 $ 2 Real estate: Commercial 379 476 855 869 6 Residential builder and developer 3 — 3 3 — Other commercial construction 33 108 141 171 — Residential 82 120 202 215 3 Residential — limited documentation 18 35 53 55 1 Consumer: Home equity lines and loans 48 39 87 81 1 Recreational finance 18 12 30 36 — Automobile 7 6 13 14 — Other 54 — 54 52 — Total $ 1,232 $ 1,070 $ 2,302 $ 2,166 $ 13 (Dollars in millions) March 31, 2023 January 1, 2023 Three Months Ended March 31, Commercial and industrial $ 227 $ 342 $ 569 $ 504 $ 3 Real estate: Commercial 364 966 1,330 1,240 5 Residential builder and developer 3 — 3 1 — Other commercial construction 94 49 143 125 2 Residential 125 129 254 272 5 Residential — limited documentation 40 29 69 78 — Consumer: Home equity lines and loans 39 42 81 85 2 Recreational finance 24 10 34 45 — Automobile 23 4 27 40 — Other 47 — 47 49 — Total $ 986 $ 1,571 $ 2,557 $ 2,439 $ 17 4. Loans and leases and the allowance for credit losses, continued Loan modifications During the normal course of business, the Company modifies loans to maximize recovery efforts from borrowers experiencing financial difficulty. Such loan modifications typically include payment deferrals and interest rate reductions but may also include other modified terms. Those modified loans may be considered nonaccrual if the Company does not expect to collect the contractual cash flows owed under the loan agreement. The table that follows summarizes the Company’s loan modification activities to borrowers experiencing financial difficulty for the three-month periods ended March 31, 2024 and 2023: Amortized cost at March 31, 2024 (Dollars in millions) Payment Deferral Interest Rate Reduction Other Combination of Modification Types (a) Total (b) (c) Percent of Total Loan Class Three Months Ended March 31, 2024 Commercial and industrial $ 184 $ — $ — $ — $ 184 .32 % Real estate: Commercial 267 — — 3 270 1.07 Residential builder and developer 2 — — — 2 .18 Other commercial construction 131 — — — 131 2.11 Residential 48 — — 1 49 .22 Residential — limited documentation 2 — — — 2 .17 Consumer: Home equity lines and loans — — — — — — Recreational finance — — — — — — Automobile — — — — — — Other — — — — — — Total $ 634 $ — $ — $ 4 $ 638 .47 % Amortized cost at March 31, 2023 (Dollars in millions) Payment Deferral Interest Rate Reduction Other Combination of Modification Types (a) Total (b) (c) Percent of Total Loan Class Three Months Ended March 31, 2023 Commercial and industrial $ 70 $ — $ — $ — $ 70 .13 % Real estate: Commercial 94 — — — 94 .35 Residential builder and developer 8 — — — 8 .64 Other commercial construction 92 — — — 92 1.39 Residential 33 — — 2 35 .15 Residential — limited documentation 5 — — — 5 .51 Consumer: Home equity lines and loans — — — — — — Recreational finance — — — — — — Automobile — — — — — — Other — — — — — — Total $ 302 $ — $ — $ 2 $ 304 .23 % (a) Predominantly payment deferrals combined with interest rate reductions. (b) Includes approximately $ 44 million and $ 23 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans) for the three-month periods ended March 31, 2024 and 2023, respectively. (c) Excludes unfunded commitments to extend credit totaling $ 29 million and $ 11 million for the three-month periods ended March 31, 2024 and 2023, respectively. 4. Loans and leases and the allowance for credit losses, continued The financial effects of the modifications for the three-month periods ended March 31, 2024 and 2023 include an increase in the weighted-average remaining term for commercial and industrial loans of 0.7 years and 1.2 years, respectively, for commercial real estate loans, inclusive of residential builder and development loans and other commercial construction loans of 0.8 years and 1.2 years, respectively, and for residential real estate loans of 11.4 years and 9.1 years, respectively. Modified loans to borrowers experiencing financial difficulty are subject to the allowance for credit losses methodology described herein, including the use of models to inform credit loss estimates and, to the extent larger balance commercial and industrial loans and commercial real estate loans are in nonaccrual status, a loan-by-loan analysis of expected credit losses on those individual loans. Loans to borrowers experiencing financial difficulty that were modified during the three months ended March 31, 2023 and for which there was a subsequent payment default during that period were not material. The following table summarizes the payment status, at March 31, 2024, of loans that were modified during the twelve-month period ended March 31, 2024. Payment status at March 31, 2024 (amortized cost) (Dollars in millions) Current 30-89 Days Past Due Past Due 90 Days or More (a) Total Twelve Months Ended March 31, 2024 Commercial and industrial $ 310 $ 7 $ 10 $ 327 Real estate: Commercial 715 33 24 772 Residential builder and developer 14 39 — 53 Other commercial construction 534 5 — 539 Residential (b) 112 35 30 177 Residential — limited documentation 6 2 — 8 Consumer: Home equity lines and loans 2 — — 2 Recreational finance — — — — Automobile — — — — Other — — — — Total $ 1,693 $ 121 $ 64 $ 1,878 (a) Predominantly loan modifications with payment deferrals. (b) Includes loans guaranteed by government-related entities classified as 30 to 89 days past due of $ 30 million and as past due 90 days or more of $ 27 million. The amount of foreclosed property held by the Company, predominantly consisting of residential real estate, was $ 38 million and $ 39 million at March 31, 2024 and December 31, 2023 , respectively. There were $ 165 million and $ 170 million at March 31, 2024 and December 31, 2023, respectively, of loans secured by residential real estate that were in the process of foreclosure. Of all loans in the process of foreclosure at March 31, 2024 , approximately 35 % were government guaranteed. At March 31, 2024 , approximately $ 14.9 billion of commercial and industrial loans, including leases, $ 16.2 billion of commercial real estate loans, $ 18.6 billion of one-to-four family residential real estate loans, $ 2.6 billion of home equity loans and lines of credit and $ 10.9 billion of other consumer loans were pledged to secure outstanding borrowings and available lines of credit from FHLB and the FRB of New York. At December 31, 2023 , approximately $ 13.4 billion of commercial and industrial loans, including leases, $ 16.4 billion of commercial real estate loans, $ 18.8 billion of one-to-four family residential real estate loans, $ 2.6 billion of home equity loans and lines of credit and $ 11.0 billion of other consumer loans were pledged to secure outstanding borrowings and available lines of credit from the FHLB and the FRB of New York as described in note 5. |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Borrowings | 5. Borrowings (Dollars in millions) March 31, 2024 December 31, 2023 Short-term borrowings Federal funds purchased and repurchase agreements $ 295 $ 316 FHLB advances 4,500 5,000 Total short-term borrowings $ 4,795 $ 5,316 Long-term borrowings Senior notes - M&T $ 3,276 $ 2,482 Senior notes - M&T Bank 3,743 3,741 FHLB advances 2,005 5 Subordinated notes - M&T 75 76 Subordinated notes - M&T Bank 866 873 Junior subordinated debentures - M&T 541 540 Asset-backed notes 934 474 Other 10 10 Total long-term borrowings $ 11,450 $ 8,201 In February 2024, M&T Bank advanced $ 2.0 billion from the FHLB of New York which matures in February 2025 at a variable rate of SOFR plus 25 basis points payable quarterly until maturity. In March 2024, M&T issued $ 850 million of senior notes that mature in March 2032 and pay a 6.082 % fixed rate semi-annually until March 2031 after which SOFR plus 2.26 % will be paid quarterly until maturity. Also in March 2024, M&T Bank issued asset-backed notes secured by automobile loans. A total of $ 511 million of such notes were purchased by third parties. Those asset-backed notes had a weighted-average estimated life of approximately two years and a weighted-average interest rate of 5.29 % at the time of securitization. Further information about this financing transaction is provided in note 11. M&T Bank had secured borrowing facilities available with the FHLB of New York and the FRB of New York totaling approximately $ 14.6 billion and $ 18.4 billion, respectively, at March 31, 2024 . M&T Bank is required to pledge loans and investment securities as collateral for these borrowing facilities and could increase the availability under such facilities by pledging additional assets. |
Revenue from contracts with cus
Revenue from contracts with customers | 3 Months Ended |
Mar. 31, 2024 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from contracts with customers | 6. Revenue from contracts with customers The Company generally charges customer accounts or otherwise bills customers upon completion of its services. Typically, the Company’s contracts with customers have a duration of one year or less and payment for services is received at least annually, but oftentimes more frequently as services are provided. At March 31, 2024 and December 31, 2023 , the Company had $ 63 million and $ 68 million, respectively, of amounts receivable related to recognized revenue from the sources in the accompanying tables. Such amounts are classified in "accrued interest and other assets" in the Company’s Consolidated Balance Sheet. In certain situations, the Company is paid in advance of providing services and defers the recognition of revenue until its service obligation is satisfied. At March 31, 2024 and December 31, 2023 , the Company had deferred revenue of $ 52 million and $ 54 million, respectively, related to the sources in the accompanying tables recorded in "accrued interest and other liabilities" in the Consolidated Balance Sheet. The following tables summarize sources of the Company’s noninterest income during the three-month periods ended March 31, 2024 and 2023 that are subject to the revenue recognition accounting guidance. (Dollars in millions) Commercial Bank Retail Bank Institutional Services and Wealth Management Total Three Months Ended March 31, 2024 Classification in Consolidated Service charges on deposit accounts $ 40 $ 84 $ — $ 124 Trust income 1 — 159 160 Brokerage services income 2 — 27 29 Other revenues from operations: Merchant discount and credit card interchange fees 17 20 — 37 Other 8 7 2 17 $ 68 $ 111 $ 188 $ 367 Three Months Ended March 31, 2023 Classification in Consolidated Service charges on deposit accounts $ 34 $ 79 $ — $ 113 Trust income — — 194 194 Brokerage services income 2 — 22 24 Other revenues from operations: Merchant discount and credit card interchange fees 17 20 — 37 Other 6 8 1 15 $ 59 $ 107 $ 217 $ 383 |
Pension plans and other postret
Pension plans and other postretirement benefits | 3 Months Ended |
Mar. 31, 2024 | |
Retirement Benefits [Abstract] | |
Pension plans and other postretirement benefits | 7. Pension plans and other postretirement benefits The Company provides defined pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic benefit for defined benefit plans consisted of the following: Pension Other Three Months Ended March 31, (Dollars in millions) 2024 2023 2024 2023 Service cost $ 2 $ 3 $ — $ — Interest cost on projected benefit obligation 29 29 1 1 Expected return on plan assets ( 51 ) ( 51 ) — — Amortization of net actuarial gain — ( 1 ) ( 1 ) ( 1 ) Net periodic benefit $ ( 20 ) $ ( 20 ) $ — $ — Service cost is reflected in "salaries and employee benefits" and the other components of net periodic benefit cost are reflected in "other costs of operations" in the Consolidated Statement of Income. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $ 45 million and $ 44 million for the three months ended March 31, 2024 and 2023 , respectively. |
Earnings per common share
Earnings per common share | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Earnings per common share | 8. Earnings per common share The computations of basic earnings per common share follow: Three Months Ended March 31, (Dollars in millions, except per share, shares in thousands) 2024 2023 Income available to common shareholders: Net income $ 531 $ 702 Less: Preferred stock dividends ( 25 ) ( 25 ) Net income available to common equity 506 677 Less: Income attributable to unvested stock-based ( 1 ) ( 1 ) Net income available to common shareholders $ 505 $ 676 Weighted-average shares outstanding: Common shares outstanding (including common stock 166,738 168,010 Less: Unvested stock-based compensation awards ( 278 ) ( 278 ) Weighted-average shares outstanding 166,460 167,732 Basic earnings per common share $ 3.04 $ 4.03 The computations of diluted earnings per common share follow: Three Months Ended March 31, (Dollars in millions, except per share, shares in thousands) 2024 2023 Net income available to common equity $ 506 $ 677 Less: Income attributable to unvested stock-based ( 1 ) ( 1 ) Net income available to common shareholders $ 505 $ 676 Adjusted weighted-average shares outstanding: Common shares outstanding (including common stock 166,738 168,010 Less: Unvested stock-based compensation awards ( 278 ) ( 278 ) Plus: Incremental shares from assumed conversion 624 678 Adjusted weighted-average shares outstanding 167,084 168,410 Diluted earnings per common share $ 3.02 $ 4.01 GAAP defines unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities that shall be included in the computation of earnings per common share pursuant to the two-class method. The Company has issued stock-based compensation awards in the form of restricted stock and restricted stock units which, in accordance with GAAP, are considered participating securities. Stock-based compensation awards to purchase common stock of M&T representing 1,328,190 common shares and 1,367,054 common shares during the three months ended March 31, 2024 and 2023 , respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive. |
Comprehensive income
Comprehensive income | 3 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
Comprehensive income | 9. Comprehensive income The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income: Investment Cash Flow Defined Benefit Total Income (Dollars in millions) Securities Hedges Plans Other Before Tax Tax Net Balance — January 1, 2024 $ ( 251 ) $ ( 203 ) $ ( 155 ) $ ( 7 ) $ ( 616 ) $ 157 $ ( 459 ) Other comprehensive income (loss) before reclassifications: Unrealized holding losses, net ( 13 ) — — — ( 13 ) 2 ( 11 ) Foreign currency translation adjustment — — — ( 2 ) ( 2 ) — ( 2 ) Unrealized losses on cash flow hedges — ( 243 ) — — ( 243 ) 60 ( 183 ) Total other comprehensive income (loss) before ( 13 ) ( 243 ) — ( 2 ) ( 258 ) 62 ( 196 ) Amounts reclassified from accumulated other comprehensive Losses realized in net income 1 — — — 1 — 1 Net yield adjustment from cash flow hedges — 87 — — 87 (a) ( 21 ) 66 Amortization of actuarial losses — — ( 1 ) — ( 1 ) (b) — ( 1 ) Total other comprehensive income (loss) ( 12 ) ( 156 ) ( 1 ) ( 2 ) ( 171 ) 41 ( 130 ) Balance — March 31, 2024 $ ( 263 ) $ ( 359 ) $ ( 156 ) $ ( 9 ) $ ( 787 ) $ 198 $ ( 589 ) Balance — January 1, 2023 $ ( 444 ) $ ( 336 ) $ ( 273 ) $ ( 13 ) $ ( 1,066 ) $ 276 $ ( 790 ) Other comprehensive income (loss) before reclassifications: Unrealized holding gains, net 89 — — — 89 ( 24 ) 65 Foreign currency translation adjustment — — — 2 2 ( 1 ) 1 Unrealized losses on cash flow hedges — 51 — — 51 ( 13 ) 38 Total other comprehensive income (loss) before 89 51 — 2 142 ( 38 ) 104 Amounts reclassified from accumulated other comprehensive Net yield adjustment from cash flow hedges — 59 — — 59 (a) ( 16 ) 43 Amortization of actuarial losses — — ( 2 ) — ( 2 ) (b) — ( 2 ) Total other comprehensive income (loss) 89 110 ( 2 ) 2 199 ( 54 ) 145 Balance — March 31, 2023 $ ( 355 ) $ ( 226 ) $ ( 275 ) $ ( 11 ) $ ( 867 ) $ 222 $ ( 645 ) (a) Included in "interest income" in the Consolidated Statement of Income. (b) Included in "other costs of operations" in the Consolidated Statement of Income. Accumulated other comprehensive income (loss), net consisted of the following: Defined Investment Cash Flow Benefit (Dollars in millions) Securities Hedges Plans Other Total Balance — December 31, 2023 $ ( 187 ) $ ( 151 ) $ ( 115 ) $ ( 6 ) $ ( 459 ) Net loss during period ( 10 ) ( 117 ) ( 1 ) ( 2 ) ( 130 ) Balance — March 31, 2024 $ ( 197 ) $ ( 268 ) $ ( 116 ) $ ( 8 ) $ ( 589 ) |
Derivative financial instrument
Derivative financial instruments | 3 Months Ended |
Mar. 31, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative financial instruments | 10. Derivative financial instruments As part of managing interest rate risk, the Company enters into interest rate swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting, collateral and/or settlement provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material as of March 31, 2024. The net effect of interest rate swap agreements was to decrease net interest income by $ 100 million and $ 69 million during the three-month periods ended March 31, 2024 and 2023, respectively. Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows: Average Weighted- Estimated Notional Maturity Average Rate Fair Value (Dollars in millions) Amount (In years) Fixed Variable Gain (Loss) (a) March 31, 2024 Fair value hedges: Fixed rate long-term borrowings (b) (c) $ 3,850 5.9 3.48 % 5.51 % $ — Cash flow hedges: Interest payments on variable rate commercial real estate 23,427 1.7 3.38 5.33 2 Total $ 27,277 2.3 $ 2 December 31, 2023 Fair value hedges: Fixed rate long-term borrowings (b) (e) $ 3,000 5.8 3.45 % 5.62 % $ ( 1 ) Cash flow hedges: Interest payments on variable rate commercial real estate 23,977 1.7 3.45 5.36 11 Total $ 26,977 2.2 $ 10 (a) Certain clearinghouse exchanges consider payments by counterparties for variation margin on derivative instruments to be settlements of those positions. The impact of such payments for interest rate swap agreements designated as fair value hedges was a net settlement of losses of $ 104 million at March 31, 2024 and $ 43 million at December 31, 2023. The impact of such payments on interest rate swap agreements designated as cash flow hedges was a net settlement of losses of $ 361 million at March 31, 2024 and $ 214 million at December 31, 2023. (b) Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate. (c) Includes notional amount and terms of $ 1.8 billion of forward-starting interest rate swap agreements that become effective in 2025. (d) Includes notional amount and terms of $ 6.0 billion of forward-starting interest rate swap agreements that become effective in 2024 and 2025. (e) Includes notional amount and terms of $ 1.0 billion of forward-starting interest rate swap agreements that become effective in 2025. (f) Includes notional amount and terms of $ 9.0 billion of forward-starting interest rate swap agreements that become effective in 2024. The Company utilizes commitments to sell residential and commercial real estate loans to hedge the exposure to changes in the fair value of real estate loans held for sale. Such commitments have generally been designated as fair value hedges. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in the fair value of certain commitments to originate real estate loans for sale. Other derivative financial instruments not designated as hedging instruments included interest rate contracts, foreign exchange and other option and futures contracts. Interest rate contracts not designated as hedging instruments had notional values of $ 43.4 billion and $ 44.4 billion at March 31, 2024 and December 31, 2023 , respectively. The notional amounts of foreign exchange and other option and futures contracts not designated as hedging instruments aggregated $ 1.7 billion and $ 1.5 billion at March 31, 2024 and December 31, 2023, respectively. 10. Derivative financial instruments, continued Information about the fair values of derivative instruments in the Company’s Consolidated Balance Sheet and Consolidated Statement of Income follows: Asset Derivatives Liability Derivatives Fair Value Fair Value March 31, December 31, March 31, December 31, (Dollars in millions) 2024 2023 2024 2023 Derivatives designated and qualifying as hedging Interest rate swap agreements $ 3 $ 12 $ 1 $ 2 Commitments to sell real estate loans 11 6 1 8 14 18 2 10 Derivatives not designated and qualifying as hedging Mortgage banking: Commitments to originate real estate loans for sale 6 15 36 32 Commitments to sell real estate loans 40 35 2 3 46 50 38 35 Other: Interest rate contracts (b) 243 237 1,019 879 Foreign exchange and other option and futures contracts 15 19 13 19 258 256 1,032 898 Total derivatives $ 318 $ 324 $ 1,072 $ 943 (a) Asset derivatives are reported in "accrued interest and other assets" and liability derivatives are reported in "accrued interest and other liabilities" in the Consolidated Balance Sheet. (b) The impact of variation margin payments at March 31, 2024 and December 31, 2023 was a reduction of the estimated fair value of interest rate contracts not designated as hedging instruments in an asset position of $ 893 million and $ 783 million , respectively, as of each period end, and in a liability position of $ 16 million and $ 32 million , respectively. Amount of Gain (Loss) Recognized Three Months Ended March 31, 2024 2023 (Dollars in millions) Derivative Hedged Item Derivative Hedged Item Derivatives in fair value hedging relationships Interest rate swap agreements: Fixed rate long-term borrowings (a) $ ( 60 ) $ 60 $ 12 $ ( 12 ) Derivatives not designated as hedging instruments Interest rate contracts (b) $ 3 $ 8 Foreign exchange and other option and futures contracts (b) 4 4 Total $ 7 $ 12 (a) Reported as an adjustment to "interest expense" in the Consolidated Statement of Income. (b) Reported as "trading account and other non-hedging derivative gains" in the Consolidated Statement of Income. Carrying Amount of the Hedged Item Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount of the Hedged Item (Dollars in millions) March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Location in the Consolidated Balance Sheet Hedges Long-term borrowings $ 3,742 $ 2,954 $ ( 104 ) $ ( 44 ) The amount of interest income recognized in the Consolidated Statement of Income associated with derivatives designated as cash flow hedges was a decrease of $ 87 million and $ 59 million for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the unrealized net loss recognized in other comprehensive income related to cash flow hedges was $ 359 million , of which losses of $ 1 million, $ 227 million, $ 129 million and $ 2 million relate to interest rate swap agreements maturing in 2024, 2025, 2026 and 2027, respectively. 10. Derivative financial instruments, continued The Company does not offset derivative asset and liability positions in its consolidated financial statements. The Company’s exposure to credit risk by entering into derivative contracts is mitigated through master netting agreements and collateral posting or settlement requirements. Master netting agreements covering interest rate and foreign exchange contracts with the same party include a right to set-off that becomes enforceable in the event of default, early termination or under other specific conditions. The aggregate fair value of derivative financial instruments in a liability position, which are subject to enforceable master netting arrangements and the related collateral posted, was not material at each of March 31, 2024 and December 31, 2023. Certain of the Company’s derivative financial instruments contain provisions that require the Company to maintain specific credit ratings from credit rating agencies to avoid higher collateral posting requirements. If the Company’s debt ratings were to fall below specified ratings, the counterparties of the derivative financial instruments could demand immediate incremental collateralization on those instruments in a net liability position. The aggregate fair value of all derivative financial instruments with such credit risk-related contingent features in a net liability position on March 31, 2024 was not material. The aggregate fair value of derivative financial instruments in an asset position with counterparties, which are subject to enforceable master netting arrangements, was $ 232 million at March 31, 2024 and $ 179 million at December 31, 2023 . Counterparties posted collateral relating to those positions of $ 231 million at March 31, 2024 and $ 179 million at December 31, 2023, respectively. Interest rate swap agreements entered into with customers are subject to the Company’s credit risk standards and often contain collateral provisions. In addition to the derivative contracts noted above, the Company clears certain derivative transactions through a clearinghouse, rather than directly with counterparties. Those transactions cleared through a clearinghouse require initial margin collateral and variation margin payments depending on the contracts being in a net asset or liability position. The amount of initial margin collateral posted by the Company was $ 146 million and $ 129 million at March 31, 2024 and December 31, 2023 , respectively. The fair value asset and liability amounts of derivative contracts have been reduced by variation margin payments treated as settlements as described herein. Variation margin on derivative contracts not treated as settlements continues to represent collateral posted or received by the Company. |
Variable interest entities and
Variable interest entities and asset securitizations | 3 Months Ended |
Mar. 31, 2024 | |
Text Block [Abstract] | |
Variable interest entities and asset securitizations | 11. Variable interest entities and asset securitizations The Company’s securitization activity includes securitizing loans originated for sale into government issued or guaranteed mortgage-backed securities. The Company has no t recognized any material losses as a result of having securitized assets. In March 2024, M&T Bank issued asset-backed notes secured by automobile loans. Approximately $ 526 million of such loans were sold into a special purpose trust which in turn issued asset-backed notes to investors. The loans continue to be serviced by the Company. A total of $ 511 million of such notes, representing the senior-most notes in the securitization, were purchased by third parties. Those asset-backed notes had a weighted-average estimated life of approximately two years and a weighted-average interest rate of 5.29 % at the time of securitization. Additionally, $ 15 million of certificates representing the residual interests of the trust were retained by the Company. As a result of the retention of the residual interests and its continued role as servicer of the loans, the Company is considered to be the primary beneficiary of the securitization trust and, accordingly, the trust has been included in the Company's consolidated financial statements. 11. Variable interest entities and asset securitizations, continued M&T has issued junior subordinated debentures payable to various trusts that have issued preferred capital securities. M&T owns the common securities of those trust entities. The Company is not considered to be the primary beneficiary of those entities and, accordingly, the trusts are not included in the Company’s consolidated financial statements. At each of March 31, 2024 and December 31, 2023, the Company included the junior subordinated debentures as “long-term borrowings” in its Consolidated Balance Sheet and recognized $ 22 million in other assets for its “investment” in the common securities of the trusts that will be concomitantly repaid to M&T by the respective trust from the proceeds of M&T’s repayment of the junior subordinated debentures associated with preferred capital securities. The Company has invested as a limited partner in various partnerships that collectively had total assets of approximately $ 9.8 billion at each of March 31, 2024 and December 31, 2023 . Those partnerships generally construct or acquire properties, including properties and facilities that produce renewable energy, for which the investing partners are eligible to receive certain federal income tax credits in accordance with government guidelines. Such investments may also provide tax deductible losses to the partners. The partnership investments also assist the Company in achieving its community reinvestment initiatives. The Company, in its position as limited partner, does not direct the activities that most significantly impact the economic performance of the partnerships and, therefore, the partnership entities are not included in the Company's consolidated financial statements. The Company's investments in qualified affordable housing projects are accounted for using the proportional amortization method whereby those investments are amortized to "income taxes" in the Consolidated Statement of Income as tax credits and other tax benefits resulting from deductible losses associated with the projects are received. Effective January 1, 2024, the Company adopted amended guidance which permits an election to account for other tax equity investments using the proportional amortization method if certain conditions are met. The Company has elected to apply the proportional amortization method to eligible renewable energy and certain other tax credit investments in addition to the low income housing tax credit investments for which the proportional amortization method had previously been applied. Information on the Company’s carrying amount of its investments in tax equity partnerships and its related future funding commitments are presented in the following table: (Dollars in millions) March 31, 2024 December 31, 2023 Affordable housing projects: Carrying amount (a) $ 1,323 $ 1,340 Amount of future funding commitments included in carrying amount (b) 379 410 Contingent commitments 55 55 Renewable energy: Carrying amount (a) 79 80 Amount of future funding commitments included in carrying amount (b) 49 31 Other: Carrying amount (a) 40 41 Amount of future funding commitments included in carrying amount (b) — — (a) Included in "accrued interest and other assets" in the Consolidated Balance Sheet . (b) Included in "accrued interest and other liabilities" in the Consolidated Balance Sheet. 11. Variable interest entities and asset securitizations, continued The reduction to income tax expense recognized from the Company's investments in partnerships accounted for using the proportional amortization method was $ 7 million (net of $ 43 million of investment amortization) and $ 6 million (net of $ 41 million of investment amortization) for the three months ended March 31, 2024 and 2023, respectively. The net reduction to income tax expense has been reported in "net change in other accrued income and expense" in the Consolidated Statement of Cash Flows. While the Company has elected to apply the proportional amortization method for renewable energy credit investments, at March 31, 2024 no such investments met the eligibility criteria for application of that method. The reduction to income tax expense recognized from renewable energy credit investments was $ 11 million and $ 8 million for the three months ended March 31, 2024 and 2023, respectively. As a limited partner, there is no recourse to the Company by creditors of the partnerships. However, the tax credits that result from the Company’s investments in such partnerships are generally subject to recapture should a partnership fail to comply with the respective government regulations. The Company has not provided financial or other support to the partnerships that was not contractually required. Although the Company currently estimates that no material losses are probable, its maximum exposure to loss from its investments in such partnerships as of March 31, 2024 was $ 2.2 billion, including possible recapture of certain tax credits. The Company serves as investment advisor for certain registered money-market funds. The Company has no explicit arrangement to provide support to those funds, but may waive portions of its allowable management fees as a result of market conditions. |
Fair value measurements
Fair value measurements | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | 12. Fair value measurements GAAP permits an entity to choose to measure eligible financial instruments and other items at fair value. The Company has not made any fair value elections at March 31, 2024. Pursuant to GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy exists in GAAP for fair value measurements based upon the inputs to the valuation of an asset or liability. • Level 1 — Valuation is based on quoted prices in active markets for identical assets and liabilities. • Level 2 — Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market. • Level 3 — Valuation is derived from model-based and other techniques in which at least one significant input is unobservable and which may be based on the Company's own estimates about the assumptions that market participants would use to value the asset or liability. When available, the Company attempts to use quoted market prices in active markets to determine fair value and classifies such items as Level 1 or Level 2. If quoted market prices in active markets are not available, fair value is often determined using model-based techniques incorporating various assumptions including interest rates, prepayment speeds and credit losses. Assets and liabilities valued using model-based techniques are classified as either Level 2 or Level 3, depending on the lowest level classification of an input that is considered significant to the overall valuation. The following is a description of the valuation methodologies used for the Company's assets and liabilities that are measured on a recurring basis at estimated fair value. 12. Fair value measurements, continued Trading account Mutual funds held in connection with deferred compensation and other arrangements have been classified as Level 1 valuations. Valuations of investments in debt securities can generally be obtained through reference to quoted prices in less active markets for the same or similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. Available-for-sale investment securities and equity securities The majority of the Company's available-for-sale investment securities have been valued by reference to prices for similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. Certain investments in mutual funds and equity securities are actively traded and, therefore, have been classified as Level 1 valuations. Real estate loans held for sale The Company utilizes commitments to sell real estate loans to hedge the exposure to changes in fair value of real estate loans held for sale. The carrying value of hedged real estate loans held for sale includes changes in estimated fair value during the hedge period. Typically, the Company attempts to hedge real estate loans held for sale from the date of close through the sale date. The fair value of hedged real estate loans held for sale is generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans with similar characteristics and, accordingly, such loans have been classified as a Level 2 valuation. Commitments to originate real estate loans for sale and commitments to sell real estate loans The Company enters into various commitments to originate real estate loans for sale and commitments to sell real estate loans. Such commitments are accounted for as derivative financial instruments and, therefore, are carried at estimated fair value on the Consolidated Balance Sheet. The estimated fair values of such commitments were generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans to certain government-sponsored entities and other parties. The fair valuations of commitments to sell real estate loans generally result in a Level 2 classification. The estimated fair value of commitments to originate real estate loans for sale are adjusted to reflect the Company's anticipated commitment expirations. The estimated commitment expirations are considered significant unobservable inputs contributing to the Level 3 classification of commitments to originate real estate loans for sale. Significant unobservable inputs used in the determination of estimated fair value of commitments to originate real estate loans for sale are included in the accompanying table of significant unobservable inputs to Level 3 measurements. Interest rate swap agreements used for interest rate risk management The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of earning assets and interest-bearing liabilities. The Company generally determines the fair value of its interest rate swap agreements using externally developed pricing models based on market observable inputs and, therefore, classifies such valuations as Level 2. The Company has considered counterparty credit risk in the valuation of its interest rate swap agreement assets and has considered its own credit risk in the valuation of its interest rate swap agreement liabilities. Other non-hedging derivatives Other non-hedging derivatives consist primarily of interest rate contracts and foreign exchange contracts with customers who require such services with offsetting positions with third parties to minimize the Company's risk with respect to such transactions. The Company generally determines the fair value of its other non-hedging derivative assets and liabilities using externally developed pricing models based on market observable inputs and, therefore, classifies such valuations as Level 2. 12. Fair value measurements, continued The following tables present assets and liabilities at March 31, 2024 and December 31, 2023 measured at estimated fair value on a recurring basis: (Dollars in millions) Fair Value Measurements Level 1 Level 2 Level 3 (a) March 31, 2024 Trading account $ 99 $ 99 $ — $ — Investment securities available for sale: U.S. Treasury and federal agencies 7,719 — 7,719 — Mortgage-backed securities: Government issued or guaranteed Commercial 1,343 — 1,343 — Residential 2,910 — 2,910 — Other debt securities 162 — 162 — 12,134 — 12,134 — Equity securities 356 343 13 — Real estate loans held for sale 728 — 728 — Other assets (b) 318 — 312 6 Total assets $ 13,635 $ 442 $ 13,187 $ 6 Other liabilities (b) $ 1,072 $ — $ 1,036 $ 36 Total liabilities $ 1,072 $ — $ 1,036 $ 36 December 31, 2023 Trading account $ 106 $ 101 $ 5 $ — Investment securities available for sale: U.S. Treasury and federal agencies 7,705 — 7,705 — Mortgage-backed securities: Government issued or guaranteed Commercial 416 — 416 — Residential 2,154 — 2,154 — Other debt securities 165 — 165 — 10,440 — 10,440 — Equity securities 268 258 10 — Real estate loans held for sale 379 — 379 — Other assets (b) 324 — 309 15 Total assets $ 11,517 $ 359 $ 11,143 $ 15 Other liabilities (b) $ 943 $ — $ 911 $ 32 Total liabilities $ 943 $ — $ 911 $ 32 (a) Significant unobservable inputs used in the fair value measurement of commitments to originate real estate loans held for sale included weighted-average commitment expirations of 8 % at March 31, 2024 and 5 % at December 31, 2023. An increase (decrease) in the estimate of expirations for commitments to originate real estate loans would generally result in a lower (higher) fair value measurement. Estimated commitment expirations are derived considering loan type, changes in interest rates and remaining length of time until closing. (b) Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), interest rate and foreign exchange contracts not designated as hedging instruments (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3). 12. Fair value measurements, continued The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The more significant of those assets follow. Loans Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectable portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount does not necessarily represent the fair value of the loan. Real estate collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have been classified as Level 2, unless significant adjustments have been made to the valuation that are not readily observable by market participants. Non-real estate collateral supporting commercial and industrial loans generally consists of business assets such as receivables, inventory and equipment. Fair value estimations are typically determined by discounting recorded values of those assets to reflect estimated net realizable value considering specific borrower facts and circumstances and the experience of credit personnel in their dealings with similar borrower collateral liquidations. Such discounts were in the range of 10 % to 90 % with a weighted-average of 38 % at March 31, 2024. As these discounts are not readily observable and are considered significant, the valuations have been classified as Level 3. Automobile collateral is typically valued by reference to independent pricing sources based on recent sales transactions of similar vehicles and, accordingly, the related nonrecurring fair value measurement adjustments have been classified as Level 2. Collateral values for other consumer installment loans are generally estimated based on historical recovery rates for similar types of loans which at March 31, 2024 was 46 %. As these recovery rates are not readily observable by market participants, such valuation adjustments have been classified as Level 3. Loans subject to nonrecurring fair value measurement were $ 1.0 billion at March 31, 2024 ($ 312 million and $ 707 million of which were classified as Level 2 and Level 3, respectively), $ 923 million at December 31, 2023 ($ 234 million and $ 689 million of which were classified as Level 2 and Level 3, respectively) and $ 670 million at March 31, 2023 ($ 374 million and $ 296 million of which were classified as Level 2 and Level 3, respectively). Changes in the fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on March 31, 2024 and 2023 were decreases of $ 175 million and $ 69 million for the three-month periods ended March 31, 2024 and 2023, respectively. Assets taken in foreclosure of defaulted loans Assets taken in foreclosure of defaulted loans are primarily comprised of commercial and residential real property and are generally measured at the lower of cost or fair value less costs to sell. The fair value of the real property is generally determined using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have generally been classified as Level 2. Assets taken into foreclosure of defaulted loans subject to nonrecurring fair value measurement were not material at each of March 31, 2024 and 2023. Changes in fair value recognized for those foreclosed assets held by the Company were not material during the three-month periods ended March 31, 2024 and 2023. 12. Fair value measurements, continued Capitalized servicing rights Capitalized servicing rights are initially measured at fair value in the Company’s Consolidated Balance Sheet. The Company utilizes the amortization method to subsequently measure its capitalized servicing assets. In accordance with GAAP, the Company must record impairment charges, on a nonrecurring basis, when the carrying value of certain strata exceed their estimated fair value. To estimate the fair value of servicing rights, the Company considers market prices for similar assets, if available, and the present value of expected future cash flows associated with the servicing rights calculated using assumptions that market participants would use in estimating future servicing income and expense. Such assumptions include estimates of the cost of servicing loans, loan default rates, an appropriate discount rate and prepayment speeds. For purposes of evaluating and measuring impairment of capitalized servicing rights, the Company stratifies such assets based on the predominant risk characteristics of the underlying financial instruments that are expected to have the most impact on projected prepayments, cost of servicing and other factors affecting future cash flows associated with the servicing rights. Such factors may include financial asset or loan type, note rate and term. The amount of impairment recognized is the amount by which the carrying value of the capitalized servicing rights for a stratum exceed estimated fair value. Impairment is recognized through a valuation allowance. The determination of fair value of capitalized servicing rights is considered a Level 3 valuation. Capitalized servicing rights related to residential mortgage loans required no valuation allowance at each of March 31, 2024, December 31, 2023 and March 31, 2023. Disclosures of fair value of financial instruments The carrying amounts and estimated fair value for certain financial instruments that are not recorded at fair value in the Consolidated Balance Sheet are presented in the following tables: (Dollars in millions) Carrying Estimated Level 1 Level 2 Level 3 March 31, 2024 Financial assets: Cash and cash equivalents $ 1,695 $ 1,695 $ 1,396 $ 299 $ — Interest-bearing deposits at banks 32,144 32,144 — 32,144 — Investment securities held to maturity 15,078 13,865 — 13,821 44 Loans and leases, net 132,782 129,771 — 7,354 122,417 Financial liabilities: Time deposits 20,279 20,236 — 20,236 — Short-term borrowings 4,795 4,795 — 4,795 — Long-term borrowings 11,450 11,370 — 11,370 — December 31, 2023 Financial assets: Cash and cash equivalents 1,731 1,731 1,668 63 — Interest-bearing deposits at banks 28,069 28,069 — 28,069 — Investment securities held to maturity 15,330 14,308 — 14,262 46 Loans and leases, net 131,939 129,138 — 7,240 121,898 Financial liabilities: Time deposits 20,759 20,715 — 20,715 — Short-term borrowings 5,316 5,316 — 5,316 — Long-term borrowings 8,201 8,107 — 8,107 — 12. Fair value measurements, continued With the exception of marketable securities and mortgage loans originated for sale, the Company's financial instruments presented in the preceding tables are not readily marketable and market prices do not exist. The Company, in attempting to comply with the provisions of GAAP that require disclosures of fair value of financial instruments, has not attempted to market its financial instruments to potential buyers, if any exist. Since negotiated prices in illiquid markets depend greatly upon the then present motivations of the buyer and seller, it is reasonable to assume that actual sales prices could vary widely from any estimate of fair value made without the benefit of negotiations. Additionally, changes in market interest rates can dramatically impact the value of financial instruments in a short period of time. The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company. The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities. Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise. Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Furthermore, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different. |
Commitments and contingencies
Commitments and contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 13. Commitments and contingencies In the normal course of business, various commitments and contingent liabilities are outstanding. The following table presents the Company's significant commitments. Certain of these commitments are not included in the Company's Consolidated Balance Sheet. March 31, December 31, (Dollars in millions) 2024 2023 Commitments to extend credit: Commercial and industrial $ 28,439 $ 28,566 Commercial real estate loans to be sold 451 916 Other commercial real estate 4,413 5,019 Residential real estate loans to be sold 211 163 Other residential real estate 393 331 Home equity lines of credit 8,080 8,109 Credit cards 5,651 5,578 Other 389 413 Standby letters of credit 2,230 2,289 Commercial letters of credit 56 62 Financial guarantees and indemnification contracts 4,129 4,036 Commitments to sell real estate loans 1,329 1,400 Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee. In addition to the amounts in the preceding table, the Company had discretionary funding commitments to commercial customers of $ 12.4 billion and $ 12.3 billion at March 31, 2024 and December 31, 2023, respectively, that the Company had the unconditional right to cancel prior to funding. Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and a third party. The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Collateral may be obtained based on management's assessment of the customer's creditworthiness. 13. Commitments and contingencies, continued Financial guarantees and indemnification contracts are predominantly comprised of recourse obligations associated with sold loans and other guarantees and commitments. Included in financial guarantees and indemnification contracts are loan principal amounts sold with recourse in conjunction with the Company's involvement in the Fannie Mae DUS program. The Company's maximum credit risk for recourse associated with loans sold under this program totaled approximately $ 4.0 billion and $ 3.9 billion at March 31, 2024 and December 31, 2023, respectively. At March 31, 2024, the Company estimated that the recourse obligations described above were not material to the Company's consolidated financial position. There have been no material losses incurred as a result of those credit recourse arrangements. Since many loan commitments, standby letters of credit, and guarantees and indemnification contracts expire without being funded in whole or in part, the contract amounts are not necessarily indicative of future cash flows. The Company utilizes commitments to sell real estate loans to hedge exposure to changes in the fair value of real estate loans held for sale. Such commitments are accounted for as derivatives and along with commitments to originate real estate loans to be held for sale are recorded in the Consolidated Balance Sheet at estimated fair market value. The Company is contractually obligated to repurchase previously sold residential real estate loans that do not ultimately meet investor sale criteria related to underwriting procedures or loan documentation. When required to do so, the Company may reimburse loan purchasers for losses incurred or may repurchase certain loans. The Company reduces residential mortgage banking revenues by an estimate for losses related to its obligations to loan purchasers. The amount of those charges is based on the volume of loans sold, the level of reimbursement requests received from loan purchasers and estimates of losses that may be associated with previously sold loans. At March 31, 2024, the Company's estimated obligation to loan purchasers was not material to the Company’s consolidated financial position. M&T and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings and other matters in which claims for monetary damages are asserted. On an on-going basis management, after consultation with legal counsel, assesses the Company’s liabilities and contingencies in connection with such proceedings. For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its consolidated financial statements. To the extent pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability, was between $ 0 and $ 25 million as of March 31, 2024. Although the Company does not believe that the outcome of pending legal matters will be material to the Company’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future. In February 2024, the FDIC notified member banks that the loss estimate attributable to certain failed banks in 2023 was approximately $ 20.4 billion, an increase of approximately $ 4.1 billion from the estimate of $ 16.3 billion described in the final rule. The FDIC also indicated that through the receivership of one of the failed banks, it had estimated residual interests in securities that were sold into trusts that could potentially reduce that loss estimate in the amount of $ 1.7 billion. The FDIC is expected to provide an updated estimate of the Company's special assessment amount with its first quarter 2024 invoice, which is anticipated to be received in June 2024. Reflecting the update to the loss estimate and related residual interest, the Company recorded an expense of $ 29 million i n the Consolidated Statement of Income in the first quarter of 2024 in addition to the $ 197 million recorded in the fourth quarter of 2023, resulting in an accrued liability recorded in "accrued interest and other liabilities" in the Company's Consolidated Balance Sheet of $ 226 million at March 31, 2024 and $ 197 million at December 31, 2023. The FDIC has indicated that the amount of the special assessment will be adjusted as its loss estimates change. |
Segment information
Segment information | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Segment information | 14. Segment information Reportable segments have been determined based upon the Company's organizational structure and its internal profitability reporting system, which is organized by strategic business unit. The reportable segments are Commercial Bank, Retail Bank and Institutional Services and Wealth Management. The financial information of the Company's segments was compiled utilizing the accounting policies described in note 23 of Notes to Financial Statements in the 2023 Annual Report. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, the financial information of the reported segments is not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data. Information about the Company's segments follows: Three Months Ended March 31, 2024 2023 (Dollars in millions) Total Revenues(a) Inter- Net Total Average Assets Total Revenues(a) Inter- Net Total Average Assets Commercial Bank $ 699 $ 2 $ 201 $ 81,083 $ 811 $ 2 $ 333 $ 79,034 Retail Bank 1,268 — 446 52,232 1,234 — 452 51,293 Institutional Services and Wealth 377 3 128 3,636 390 3 110 3,655 All Other ( 84 ) ( 5 ) ( 244 ) 74,527 ( 30 ) ( 5 ) ( 193 ) 68,617 Total $ 2,260 $ — $ 531 $ 211,478 $ 2,405 $ — $ 702 $ 202,599 (a) Total revenues are comprised of net interest income and other income. Net interest income is the difference between taxable-equivalent interest earned on assets and interest paid on liabilities owed by a segment and a funding charge (credit) based on the Company's internal funds transfer and allocation methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $ 12 million and $ 14 million for the three-month periods ended March 31, 2024 and 2023 and is eliminated in "All Other" total revenues. |
Relationship with BLG and Bayvi
Relationship with BLG and Bayview Financial | 3 Months Ended |
Mar. 31, 2024 | |
Text Block [Abstract] | |
Relationship with BLG and Bayview Financial | 15. Relationship with BLG and Bayview Financial M&T holds a 20 % minority interest in BLG, a privately-held commercial mortgage company. That investment had no remaining carrying value at March 31, 2024 as a result of cumulative losses recognized and cash distributions received in prior years. Cash distributions now received from BLG are recognized as income by M&T and included in "other revenues from operations" in the Consolidated Statement of Income. That income totaled $ 25 million and $ 20 million for the three-month periods ended March 31, 2024 and 2023, respectively. Bayview Financial, a privately-held specialty finance company, is BLG's majority investor. In addition to their common investment in BLG, the Company and Bayview Financial conduct other business activities with each other. The Company has obtained loan servicing rights for mortgage loans from BLG and Bayview Financial having outstanding principal balances of $ 1.1 billion and $ 1.2 billion at March 31, 2024 and December 31, 2023 , respectively. Revenues from those servicing rights were $ 1 million and $ 2 million in the three-month periods ended March 31, 2024 and 2023 , respectively. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances of $ 112.0 billion and $ 115.3 billion at March 31, 2024 and December 31, 2023 , respectively. Revenues earned for sub-servicing loans for Bayview Financial were $ 32 million in each of the three-month periods ended March 31, 2024 and 2023 . In addition, the Company held $ 41 million and $ 42 million of mortgage-backed securities in its held-to-maturity portfolio at March 31, 2024 and December 31, 2023, respectively, that were securitized by Bayview Financial. At March 31, 2024 , the Company held $ 674 million of Bayview Financial's $ 3.7 billion syndicated loan facility. |
Significant accounting polici_2
Significant accounting policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting | The consolidated interim financial statements of the Company were compiled in accordance with GAAP using the accounting policies set forth in note 1 of Notes to Financial Statements included in the 2023 Annual Report, except as described in the following table. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented. |
Recent accounting developments | Recent accounting developments Standard Description Required date of adoption Effect on consolidated financial statements Standards Adopted in 2024 Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method The amendments permit an election to account for tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the income tax credits and other income tax benefits received and the net amortization and income tax credits and other income tax benefits are recognized in the income statement as a component of income tax expense (benefit). January 1, 2024 As described in note 11, the Company adopted the amended guidance effective January 1, 2024 using a modified retrospective transition. The guidance did not have a material impact on the Company’s consolidated financial statements. |
Investment securities (Tables)
Investment securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities were as follows: (Dollars in millions) Amortized Gross Gross Estimated March 31, 2024 Investment securities available for sale: U.S. Treasury and federal agencies $ 7,818 $ — $ 99 $ 7,719 Mortgage-backed securities: Government issued or guaranteed: Commercial 1,355 1 13 1,343 Residential 3,053 — 143 2,910 Other debt securities 171 — 9 162 12,397 1 264 12,134 Investment securities held to maturity: U.S. Treasury and federal agencies 1,007 — 33 974 Obligations of states and political subdivisions 2,466 — 94 2,372 Mortgage-backed securities: Government issued or guaranteed: Commercial 2,035 — 154 1,881 Residential 9,527 — 935 8,592 Privately issued 41 9 6 44 Other debt securities 2 — — 2 15,078 9 1,222 13,865 Total debt securities $ 27,475 $ 10 $ 1,486 $ 25,999 Equity and other securities: Readily marketable equity — at fair value $ 351 $ 8 $ 3 $ 356 Other — at cost 928 — — 928 Total equity and other securities $ 1,279 $ 8 $ 3 $ 1,284 December 31, 2023 Investment securities available for sale: U.S. Treasury and federal agencies $ 7,818 $ — $ 113 $ 7,705 Mortgage-backed securities: Government issued or guaranteed: Commercial 425 — 9 416 Residential 2,272 — 118 2,154 Other debt securities 176 — 11 165 10,691 — 251 10,440 Investment securities held to maturity: U.S. Treasury and federal agencies 1,005 — 31 974 Obligations of states and political subdivisions 2,501 — 67 2,434 Mortgage-backed securities: Government issued or guaranteed: Commercial 2,033 — 130 1,903 Residential 9,747 4 802 8,949 Privately issued 42 9 5 46 Other debt securities 2 — — 2 15,330 13 1,035 14,308 Total debt securities $ 26,021 $ 13 $ 1,286 $ 24,748 Equity and other securities: Readily marketable equity — at fair value $ 266 $ 5 $ 3 $ 268 Other — at cost 859 — — 859 Total equity and other securities $ 1,125 $ 5 $ 3 $ 1,127 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | At March 31, 2024, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows: (Dollars in millions) Amortized Estimated Debt securities available for sale: Due in one year or less $ 3,248 $ 3,209 Due after one year through five years 4,691 4,628 Due after five years through ten years 50 44 Due after ten years — — 7,989 7,881 Mortgage-backed securities 4,408 4,253 $ 12,397 $ 12,134 Debt securities held to maturity: Due in one year or less $ 588 $ 575 Due after one year through five years 635 611 Due after five years through ten years 1,369 1,333 Due after ten years 883 829 3,475 3,348 Mortgage-backed securities 11,603 10,517 $ 15,078 $ 13,865 |
Investment Securities in Continuous Unrealized Loss Position | A summary of investment securities that as of March 31, 2024 and December 31, 2023 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows: Less Than 12 Months 12 Months or More (Dollars in millions) Fair Unrealized Fair Unrealized March 31, 2024 Investment securities available for sale: U.S. Treasury and federal agencies $ 2,242 $ 10 $ 5,177 $ 89 Mortgage-backed securities: Government issued or guaranteed: Commercial 765 6 393 7 Residential 813 6 1,964 137 Other debt securities — — 156 9 3,820 22 7,690 242 Investment securities held to maturity: U.S. Treasury and federal agencies 49 1 925 32 Obligations of states and political subdivisions 43 — 2,284 94 Mortgage-backed securities: Government issued or guaranteed: Commercial 172 9 1,709 145 Residential 1,133 12 7,459 923 Privately issued — — 33 6 1,397 22 12,410 1,200 Total $ 5,217 $ 44 $ 20,100 $ 1,442 December 31, 2023 Investment securities available for sale: U.S. Treasury and federal agencies $ 229 $ 1 $ 7,474 $ 112 Mortgage-backed securities: Government issued or guaranteed: Commercial 74 1 330 8 Residential 151 2 1,959 116 Other debt securities 6 — 154 11 460 4 9,917 247 Investment securities held to maturity: U.S. Treasury and federal agencies 50 — 924 31 Obligations of states and political subdivisions 218 3 2,172 64 Mortgage-backed securities: Government issued or guaranteed: Commercial 328 9 1,575 121 Residential 955 11 7,139 791 Privately issued — — 34 5 1,551 23 11,844 1,012 Total $ 2,011 $ 27 $ 21,761 $ 1,259 |
Loans and leases and the allo_2
Loans and leases and the allowance for credit losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Summary of Current, Past Due and Nonaccrual Loans | A summary of current, past due and nonaccrual loans as of March 31, 2024 and December 31, 2023 follows: (Dollars in millions) Current 30-89 Days Accruing Past Nonaccrual Total March 31, 2024 Commercial and industrial $ 56,803 $ 219 $ 11 $ 864 $ 57,897 Real estate: Commercial (a) 24,119 163 31 855 25,168 Residential builder and developer 984 48 — 3 1,035 Other commercial construction 5,915 155 2 141 6,213 Residential (b) 21,118 627 245 202 22,192 Residential — limited documentation 801 30 — 53 884 Consumer: Home equity lines and loans 4,437 34 — 87 4,558 Recreational finance 10,553 71 — 30 10,654 Automobile 4,252 43 — 13 4,308 Other 1,982 20 8 54 2,064 Total $ 130,964 $ 1,410 $ 297 $ 2,302 $ 134,973 December 31, 2023 Commercial and industrial $ 56,091 $ 238 $ 11 $ 670 $ 57,010 Real estate: Commercial (a) 24,072 311 25 869 25,277 Residential builder and developer 1,065 5 — 3 1,073 Other commercial construction 6,322 159 1 171 6,653 Residential (b) 21,080 763 295 215 22,353 Residential — limited documentation 825 31 — 55 911 Consumer: Home equity lines and loans 4,528 40 — 81 4,649 Recreational finance 9,935 87 — 36 10,058 Automobile 3,918 60 — 14 3,992 Other 2,003 30 7 52 2,092 Total $ 129,839 $ 1,724 $ 339 $ 2,166 $ 134,068 (a) Commercial real estate loans held for sale were $ 563 million at March 31, 2024 and $ 189 million at December 31, 2023. (b) One-to-four family residential mortgage loans held for sale were $ 165 million at March 31, 2024 and $ 190 million at December 31, 2023 . |
Summary of Loan grades applied various classes of Commercial and Industrial Loans and Commercial Real Estate Loans | The following table summarizes the loan grades applied at March 31, 2024 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans and gross charge-offs for those types of loans for the three-month period ended March 31, 2024 by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2024 2023 2022 2021 2020 Prior Loans Loans Total Commercial and industrial: Pass $ 2,012 $ 8,129 $ 7,567 $ 4,441 $ 2,099 $ 6,456 $ 22,719 $ 74 $ 53,497 Criticized accrual 32 306 422 277 117 602 1,745 35 3,536 Criticized nonaccrual 2 54 89 62 71 206 364 16 864 Total commercial and industrial $ 2,046 $ 8,489 $ 8,078 $ 4,780 $ 2,287 $ 7,264 $ 24,828 $ 125 $ 57,897 Gross charge-offs $ — $ 7 $ 9 $ 4 $ 3 $ 5 $ 50 $ — $ 78 Real estate: Commercial: Pass $ 696 $ 1,783 $ 1,652 $ 1,331 $ 2,013 $ 11,278 $ 435 $ — $ 19,188 Criticized accrual — 273 815 464 558 3,008 7 — 5,125 Criticized nonaccrual — — 46 11 101 695 2 — 855 Total commercial real estate $ 696 $ 2,056 $ 2,513 $ 1,806 $ 2,672 $ 14,981 $ 444 $ — $ 25,168 Gross charge-offs $ — $ — $ — $ — $ — $ 13 $ — $ — $ 13 Residential builder and Pass $ 89 $ 509 $ 187 $ 34 $ 5 $ 14 $ 102 $ — $ 940 Criticized accrual — 2 21 21 — 46 2 — 92 Criticized nonaccrual — — — 2 — 1 — — 3 Total residential builder $ 89 $ 511 $ 208 $ 57 $ 5 $ 61 $ 104 $ — $ 1,035 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ 1 Other commercial construction: Pass $ 27 $ 990 $ 1,231 $ 590 $ 273 $ 589 $ 45 $ — $ 3,745 Criticized accrual — 75 538 460 567 687 — — 2,327 Criticized nonaccrual — — 11 10 45 75 — — 141 Total other commercial $ 27 $ 1,065 $ 1,780 $ 1,060 $ 885 $ 1,351 $ 45 $ — $ 6,213 Gross charge-offs $ — $ — $ 2 $ — $ — $ 7 $ 2 $ — $ 11 The following table summarizes the loan grades applied at December 31, 2023 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans by origination year. Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2023 2022 2021 2020 2019 Prior Loans Loans Total Commercial and industrial: Pass $ 8,689 $ 8,087 $ 4,800 $ 2,248 $ 2,169 $ 4,843 $ 22,345 $ 70 $ 53,251 Criticized accrual 292 279 277 142 127 481 1,460 31 3,089 Criticized nonaccrual 29 68 56 75 36 150 243 13 670 Total commercial and industrial $ 9,010 $ 8,434 $ 5,133 $ 2,465 $ 2,332 $ 5,474 $ 24,048 $ 114 $ 57,010 Real estate: Commercial: Pass $ 2,048 $ 1,742 $ 1,367 $ 2,011 $ 3,059 $ 8,491 $ 440 $ — $ 19,158 Criticized accrual 227 891 465 456 966 2,238 7 — 5,250 Criticized nonaccrual — 46 3 113 93 611 3 — 869 Total commercial real estate $ 2,275 $ 2,679 $ 1,835 $ 2,580 $ 4,118 $ 11,340 $ 450 $ — $ 25,277 Residential builder and Pass $ 530 $ 252 $ 41 $ 6 $ 2 $ 12 $ 116 $ — $ 959 Criticized accrual 1 18 30 — 59 — 3 — 111 Criticized nonaccrual — — 3 — — — — — 3 Total residential builder $ 531 $ 270 $ 74 $ 6 $ 61 $ 12 $ 119 $ — $ 1,073 Other commercial construction: Pass $ 813 $ 1,366 $ 651 $ 373 $ 646 $ 187 $ 30 $ — $ 4,066 Criticized accrual 53 391 390 691 565 326 — — 2,416 Criticized nonaccrual — 14 10 46 50 49 2 — 171 Total other commercial $ 866 $ 1,771 $ 1,051 $ 1,110 $ 1,261 $ 562 $ 32 $ — $ 6,653 |
Summary of loans in Accrual and Nonaccrual Status | A summary of loans in accrual and nonaccrual status at March 31, 2024 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the three-month period ended March 31, 2024 by origination year follows: Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2024 2023 2022 2021 2020 Prior Loans Loans Total Residential: Current $ 478 $ 1,499 $ 4,667 $ 3,717 $ 2,533 $ 8,131 $ 93 $ — $ 21,118 30-89 days past due — 6 107 62 30 422 — — 627 Accruing loans past due — 2 21 19 15 188 — — 245 Nonaccrual — 1 15 10 2 173 1 — 202 Total residential $ 478 $ 1,508 $ 4,810 $ 3,808 $ 2,580 $ 8,914 $ 94 $ — $ 22,192 Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ 1 Residential - limited documentation: Current $ — $ — $ — $ — $ — $ 801 $ — $ — $ 801 30-89 days past due — — — — — 30 — — 30 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 53 — — 53 Total residential - limited $ — $ — $ — $ — $ — $ 884 $ — $ — $ 884 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer: Home equity lines and loans: Current $ — $ — $ — $ 2 $ 2 $ 105 $ 2,972 $ 1,356 $ 4,437 30-89 days past due — — — — — 3 — 31 34 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 5 1 81 87 Total home equity lines and loans $ — $ — $ — $ 2 $ 2 $ 113 $ 2,973 $ 1,468 $ 4,558 Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 1 $ 1 Recreational finance: Current $ 1,028 $ 2,531 $ 2,252 $ 1,790 $ 1,233 $ 1,719 $ — $ — $ 10,553 30-89 days past due 1 11 12 14 13 20 — — 71 Accruing loans past due — — — — — — — — — Nonaccrual — 4 6 6 4 10 — — 30 Total recreational finance $ 1,029 $ 2,546 $ 2,270 $ 1,810 $ 1,250 $ 1,749 $ — $ — $ 10,654 Gross charge-offs $ — $ 3 $ 5 $ 6 $ 4 $ 7 $ — $ — $ 25 Automobile: Current $ 684 $ 1,026 $ 1,004 $ 942 $ 371 $ 225 $ — $ — $ 4,252 30-89 days past due 1 7 11 11 6 7 — — 43 Accruing loans past due — — — — — — — — — Nonaccrual — 2 2 3 2 4 — — 13 Total automobile $ 685 $ 1,035 $ 1,017 $ 956 $ 379 $ 236 $ — $ — $ 4,308 Gross charge-offs $ — $ 2 $ 2 $ 2 $ 1 $ 1 $ — $ — $ 8 Other: Current $ 69 $ 219 $ 155 $ 105 $ 28 $ 27 $ 1,378 $ 1 $ 1,982 30-89 days past due 1 1 3 1 — 1 12 1 20 Accruing loans past due — — — — — — 8 — 8 Nonaccrual 1 1 1 — — — 51 — 54 Total other $ 71 $ 221 $ 159 $ 106 $ 28 $ 28 $ 1,449 $ 2 $ 2,064 Gross charge-offs $ 1 $ 3 $ 3 $ 1 $ 1 $ — $ 16 $ — $ 25 Total loans and leases at $ 5,121 $ 17,431 $ 20,835 $ 14,385 $ 10,088 $ 35,581 $ 29,937 $ 1,595 $ 134,973 Total gross charge-offs for $ 1 $ 15 $ 21 $ 13 $ 9 $ 35 $ 68 $ 1 $ 163 A summary of loans in accrual and nonaccrual status at December 31, 2023 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows: Term Loans by Origination Year Revolving Revolving Loans Converted to Term (Dollars in millions) 2023 2022 2021 2020 2019 Prior Loans Loans Total Residential: Current $ 1,726 $ 4,709 $ 3,732 $ 2,543 $ 1,215 $ 7,060 $ 95 $ — $ 21,080 30-89 days past due 18 120 88 52 28 457 — — 763 Accruing loans past due 1 30 28 17 14 205 — — 295 Nonaccrual 1 17 10 3 4 179 1 — 215 Total residential $ 1,746 $ 4,876 $ 3,858 $ 2,615 $ 1,261 $ 7,901 $ 96 $ — $ 22,353 Residential - limited Current $ — $ — $ — $ — $ — $ 825 $ — $ — $ 825 30-89 days past due — — — — — 31 — — 31 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 55 — — 55 Total residential - limited $ — $ — $ — $ — $ — $ 911 $ — $ — $ 911 Consumer: Home equity lines and loans: Current $ — $ — $ 2 $ 2 $ 13 $ 98 $ 3,022 $ 1,391 $ 4,528 30-89 days past due — — — — — 3 — 37 40 Accruing loans past due — — — — — — — — — Nonaccrual — — — — — 5 3 73 81 Total home equity lines and $ — $ — $ 2 $ 2 $ 13 $ 106 $ 3,025 $ 1,501 $ 4,649 Recreational finance: Current $ 2,653 $ 2,338 $ 1,857 $ 1,286 $ 781 $ 1,020 $ — $ — $ 9,935 30-89 days past due 11 16 19 14 11 16 — — 87 Accruing loans past due — — — — — — — — — Nonaccrual 3 5 8 6 5 9 — — 36 Total recreational finance $ 2,667 $ 2,359 $ 1,884 $ 1,306 $ 797 $ 1,045 $ — $ — $ 10,058 Automobile: Current $ 1,063 $ 1,096 $ 1,047 $ 427 $ 198 $ 87 $ — $ — $ 3,918 30-89 days past due 8 15 17 9 6 5 — — 60 Accruing loans past due — — — — — — — — — Nonaccrual 2 3 3 2 2 2 — — 14 Total automobile $ 1,073 $ 1,114 $ 1,067 $ 438 $ 206 $ 94 $ — $ — $ 3,992 Other: Current $ 250 $ 176 $ 118 $ 33 $ 13 $ 18 $ 1,392 $ 3 $ 2,003 30-89 days past due 3 3 2 — — 1 20 1 30 Accruing loans past due — — — — — — 7 — 7 Nonaccrual 2 1 1 — — — 48 — 52 Total other $ 255 $ 180 $ 121 $ 33 $ 13 $ 19 $ 1,467 $ 4 $ 2,092 Total loans and leases at $ 18,423 $ 21,683 $ 15,025 $ 10,555 $ 10,062 $ 27,464 $ 29,237 $ 1,619 $ 134,068 |
Changes in Allowance for Credit Losses | Changes in the allowance for credit losses for the three months ended March 31, 2024 and 2023 were as follows: Commercial and Real Estate (Dollars in millions) industrial Commercial Residential Consumer Total Three Months Ended March 31, 2024 Beginning balance $ 620 $ 764 $ 116 $ 629 $ 2,129 Provision for credit losses 137 9 2 52 200 Net charge-offs: Charge-offs ( 78 ) ( 25 ) ( 1 ) ( 59 ) ( 163 ) Recoveries 5 6 1 13 25 Net charge-offs ( 73 ) ( 19 ) — ( 46 ) ( 138 ) Ending balance $ 684 $ 754 $ 118 $ 635 $ 2,191 Three Months Ended March 31, 2023 Beginning balance $ 568 $ 611 $ 115 $ 631 $ 1,925 Provision for credit losses 21 86 ( 1 ) 14 120 Net charge-offs: Charge-offs ( 20 ) ( 29 ) ( 2 ) ( 44 ) ( 95 ) Recoveries 10 1 1 13 25 Net charge-offs ( 10 ) ( 28 ) ( 1 ) ( 31 ) ( 70 ) Ending balance $ 579 $ 669 $ 113 $ 614 $ 1,975 |
Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans | Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the three-month periods ended March 31, 2024 and 2023 follows: Amortized Cost with Allowance Amortized Cost without Allowance Total Amortized Cost Interest Income Recognized (Dollars in millions) March 31, 2024 January 1, 2024 Three Months Ended March 31, Commercial and industrial $ 590 $ 274 $ 864 $ 670 $ 2 Real estate: Commercial 379 476 855 869 6 Residential builder and developer 3 — 3 3 — Other commercial construction 33 108 141 171 — Residential 82 120 202 215 3 Residential — limited documentation 18 35 53 55 1 Consumer: Home equity lines and loans 48 39 87 81 1 Recreational finance 18 12 30 36 — Automobile 7 6 13 14 — Other 54 — 54 52 — Total $ 1,232 $ 1,070 $ 2,302 $ 2,166 $ 13 (Dollars in millions) March 31, 2023 January 1, 2023 Three Months Ended March 31, Commercial and industrial $ 227 $ 342 $ 569 $ 504 $ 3 Real estate: Commercial 364 966 1,330 1,240 5 Residential builder and developer 3 — 3 1 — Other commercial construction 94 49 143 125 2 Residential 125 129 254 272 5 Residential — limited documentation 40 29 69 78 — Consumer: Home equity lines and loans 39 42 81 85 2 Recreational finance 24 10 34 45 — Automobile 23 4 27 40 — Other 47 — 47 49 — Total $ 986 $ 1,571 $ 2,557 $ 2,439 $ 17 |
Loan Modification Activities to Borrowers Experiencing Financial Difficulty on Financing Receivables | The table that follows summarizes the Company’s loan modification activities to borrowers experiencing financial difficulty for the three-month periods ended March 31, 2024 and 2023: Amortized cost at March 31, 2024 (Dollars in millions) Payment Deferral Interest Rate Reduction Other Combination of Modification Types (a) Total (b) (c) Percent of Total Loan Class Three Months Ended March 31, 2024 Commercial and industrial $ 184 $ — $ — $ — $ 184 .32 % Real estate: Commercial 267 — — 3 270 1.07 Residential builder and developer 2 — — — 2 .18 Other commercial construction 131 — — — 131 2.11 Residential 48 — — 1 49 .22 Residential — limited documentation 2 — — — 2 .17 Consumer: Home equity lines and loans — — — — — — Recreational finance — — — — — — Automobile — — — — — — Other — — — — — — Total $ 634 $ — $ — $ 4 $ 638 .47 % Amortized cost at March 31, 2023 (Dollars in millions) Payment Deferral Interest Rate Reduction Other Combination of Modification Types (a) Total (b) (c) Percent of Total Loan Class Three Months Ended March 31, 2023 Commercial and industrial $ 70 $ — $ — $ — $ 70 .13 % Real estate: Commercial 94 — — — 94 .35 Residential builder and developer 8 — — — 8 .64 Other commercial construction 92 — — — 92 1.39 Residential 33 — — 2 35 .15 Residential — limited documentation 5 — — — 5 .51 Consumer: Home equity lines and loans — — — — — — Recreational finance — — — — — — Automobile — — — — — — Other — — — — — — Total $ 302 $ — $ — $ 2 $ 304 .23 % (a) Predominantly payment deferrals combined with interest rate reductions. (b) Includes approximately $ 44 million and $ 23 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans) for the three-month periods ended March 31, 2024 and 2023, respectively. (c) Excludes unfunded commitments to extend credit totaling $ 29 million and $ 11 million for the three-month periods ended March 31, 2024 and 2023, respectively. |
Summary of Payment Status of Loans Modified | The following table summarizes the payment status, at March 31, 2024, of loans that were modified during the twelve-month period ended March 31, 2024. Payment status at March 31, 2024 (amortized cost) (Dollars in millions) Current 30-89 Days Past Due Past Due 90 Days or More (a) Total Twelve Months Ended March 31, 2024 Commercial and industrial $ 310 $ 7 $ 10 $ 327 Real estate: Commercial 715 33 24 772 Residential builder and developer 14 39 — 53 Other commercial construction 534 5 — 539 Residential (b) 112 35 30 177 Residential — limited documentation 6 2 — 8 Consumer: Home equity lines and loans 2 — — 2 Recreational finance — — — — Automobile — — — — Other — — — — Total $ 1,693 $ 121 $ 64 $ 1,878 (a) Predominantly loan modifications with payment deferrals. (b) Includes loans guaranteed by government-related entities classified as 30 to 89 days past due of $ 30 million and as past due 90 days or more of $ 27 million. |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of Borrowings | (Dollars in millions) March 31, 2024 December 31, 2023 Short-term borrowings Federal funds purchased and repurchase agreements $ 295 $ 316 FHLB advances 4,500 5,000 Total short-term borrowings $ 4,795 $ 5,316 Long-term borrowings Senior notes - M&T $ 3,276 $ 2,482 Senior notes - M&T Bank 3,743 3,741 FHLB advances 2,005 5 Subordinated notes - M&T 75 76 Subordinated notes - M&T Bank 866 873 Junior subordinated debentures - M&T 541 540 Asset-backed notes 934 474 Other 10 10 Total long-term borrowings $ 11,450 $ 8,201 |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
ASU 2014-09 [Member] | |
Summary of Sources of Noninterest Income that are Subject to Revenue Recognition Accounting Guidance | The following tables summarize sources of the Company’s noninterest income during the three-month periods ended March 31, 2024 and 2023 that are subject to the revenue recognition accounting guidance. (Dollars in millions) Commercial Bank Retail Bank Institutional Services and Wealth Management Total Three Months Ended March 31, 2024 Classification in Consolidated Service charges on deposit accounts $ 40 $ 84 $ — $ 124 Trust income 1 — 159 160 Brokerage services income 2 — 27 29 Other revenues from operations: Merchant discount and credit card interchange fees 17 20 — 37 Other 8 7 2 17 $ 68 $ 111 $ 188 $ 367 Three Months Ended March 31, 2023 Classification in Consolidated Service charges on deposit accounts $ 34 $ 79 $ — $ 113 Trust income — — 194 194 Brokerage services income 2 — 22 24 Other revenues from operations: Merchant discount and credit card interchange fees 17 20 — 37 Other 6 8 1 15 $ 59 $ 107 $ 217 $ 383 |
Pension plans and other postr_2
Pension plans and other postretirement benefits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Retirement Benefits [Abstract] | |
Net Periodic Defined Benefit Cost for Defined Benefit Plans | The Company provides defined pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic benefit for defined benefit plans consisted of the following: Pension Other Three Months Ended March 31, (Dollars in millions) 2024 2023 2024 2023 Service cost $ 2 $ 3 $ — $ — Interest cost on projected benefit obligation 29 29 1 1 Expected return on plan assets ( 51 ) ( 51 ) — — Amortization of net actuarial gain — ( 1 ) ( 1 ) ( 1 ) Net periodic benefit $ ( 20 ) $ ( 20 ) $ — $ — |
Earnings per common share (Tabl
Earnings per common share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Computations of Basic Earnings Per Common Share | The computations of basic earnings per common share follow: Three Months Ended March 31, (Dollars in millions, except per share, shares in thousands) 2024 2023 Income available to common shareholders: Net income $ 531 $ 702 Less: Preferred stock dividends ( 25 ) ( 25 ) Net income available to common equity 506 677 Less: Income attributable to unvested stock-based ( 1 ) ( 1 ) Net income available to common shareholders $ 505 $ 676 Weighted-average shares outstanding: Common shares outstanding (including common stock 166,738 168,010 Less: Unvested stock-based compensation awards ( 278 ) ( 278 ) Weighted-average shares outstanding 166,460 167,732 Basic earnings per common share $ 3.04 $ 4.03 |
Computations of Diluted Earnings Per Common Share | The computations of diluted earnings per common share follow: Three Months Ended March 31, (Dollars in millions, except per share, shares in thousands) 2024 2023 Net income available to common equity $ 506 $ 677 Less: Income attributable to unvested stock-based ( 1 ) ( 1 ) Net income available to common shareholders $ 505 $ 676 Adjusted weighted-average shares outstanding: Common shares outstanding (including common stock 166,738 168,010 Less: Unvested stock-based compensation awards ( 278 ) ( 278 ) Plus: Incremental shares from assumed conversion 624 678 Adjusted weighted-average shares outstanding 167,084 168,410 Diluted earnings per common share $ 3.02 $ 4.01 |
Comprehensive income (Tables)
Comprehensive income (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income | The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income: Investment Cash Flow Defined Benefit Total Income (Dollars in millions) Securities Hedges Plans Other Before Tax Tax Net Balance — January 1, 2024 $ ( 251 ) $ ( 203 ) $ ( 155 ) $ ( 7 ) $ ( 616 ) $ 157 $ ( 459 ) Other comprehensive income (loss) before reclassifications: Unrealized holding losses, net ( 13 ) — — — ( 13 ) 2 ( 11 ) Foreign currency translation adjustment — — — ( 2 ) ( 2 ) — ( 2 ) Unrealized losses on cash flow hedges — ( 243 ) — — ( 243 ) 60 ( 183 ) Total other comprehensive income (loss) before ( 13 ) ( 243 ) — ( 2 ) ( 258 ) 62 ( 196 ) Amounts reclassified from accumulated other comprehensive Losses realized in net income 1 — — — 1 — 1 Net yield adjustment from cash flow hedges — 87 — — 87 (a) ( 21 ) 66 Amortization of actuarial losses — — ( 1 ) — ( 1 ) (b) — ( 1 ) Total other comprehensive income (loss) ( 12 ) ( 156 ) ( 1 ) ( 2 ) ( 171 ) 41 ( 130 ) Balance — March 31, 2024 $ ( 263 ) $ ( 359 ) $ ( 156 ) $ ( 9 ) $ ( 787 ) $ 198 $ ( 589 ) Balance — January 1, 2023 $ ( 444 ) $ ( 336 ) $ ( 273 ) $ ( 13 ) $ ( 1,066 ) $ 276 $ ( 790 ) Other comprehensive income (loss) before reclassifications: Unrealized holding gains, net 89 — — — 89 ( 24 ) 65 Foreign currency translation adjustment — — — 2 2 ( 1 ) 1 Unrealized losses on cash flow hedges — 51 — — 51 ( 13 ) 38 Total other comprehensive income (loss) before 89 51 — 2 142 ( 38 ) 104 Amounts reclassified from accumulated other comprehensive Net yield adjustment from cash flow hedges — 59 — — 59 (a) ( 16 ) 43 Amortization of actuarial losses — — ( 2 ) — ( 2 ) (b) — ( 2 ) Total other comprehensive income (loss) 89 110 ( 2 ) 2 199 ( 54 ) 145 Balance — March 31, 2023 $ ( 355 ) $ ( 226 ) $ ( 275 ) $ ( 11 ) $ ( 867 ) $ 222 $ ( 645 ) (a) Included in "interest income" in the Consolidated Statement of Income. (b) Included in "other costs of operations" in the Consolidated Statement of Income. |
Accumulated Other Comprehensive Income (Loss), Net | Accumulated other comprehensive income (loss), net consisted of the following: Defined Investment Cash Flow Benefit (Dollars in millions) Securities Hedges Plans Other Total Balance — December 31, 2023 $ ( 187 ) $ ( 151 ) $ ( 115 ) $ ( 6 ) $ ( 459 ) Net loss during period ( 10 ) ( 117 ) ( 1 ) ( 2 ) ( 130 ) Balance — March 31, 2024 $ ( 197 ) $ ( 268 ) $ ( 116 ) $ ( 8 ) $ ( 589 ) |
Derivative financial instrume_2
Derivative financial instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Information about Interest Rate Swap Agreements | Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows: Average Weighted- Estimated Notional Maturity Average Rate Fair Value (Dollars in millions) Amount (In years) Fixed Variable Gain (Loss) (a) March 31, 2024 Fair value hedges: Fixed rate long-term borrowings (b) (c) $ 3,850 5.9 3.48 % 5.51 % $ — Cash flow hedges: Interest payments on variable rate commercial real estate 23,427 1.7 3.38 5.33 2 Total $ 27,277 2.3 $ 2 December 31, 2023 Fair value hedges: Fixed rate long-term borrowings (b) (e) $ 3,000 5.8 3.45 % 5.62 % $ ( 1 ) Cash flow hedges: Interest payments on variable rate commercial real estate 23,977 1.7 3.45 5.36 11 Total $ 26,977 2.2 $ 10 (a) Certain clearinghouse exchanges consider payments by counterparties for variation margin on derivative instruments to be settlements of those positions. The impact of such payments for interest rate swap agreements designated as fair value hedges was a net settlement of losses of $ 104 million at March 31, 2024 and $ 43 million at December 31, 2023. The impact of such payments on interest rate swap agreements designated as cash flow hedges was a net settlement of losses of $ 361 million at March 31, 2024 and $ 214 million at December 31, 2023. (b) Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate. (c) Includes notional amount and terms of $ 1.8 billion of forward-starting interest rate swap agreements that become effective in 2025. (d) Includes notional amount and terms of $ 6.0 billion of forward-starting interest rate swap agreements that become effective in 2024 and 2025. (e) Includes notional amount and terms of $ 1.0 billion of forward-starting interest rate swap agreements that become effective in 2025. (f) Includes notional amount and terms of $ 9.0 billion of forward-starting interest rate swap agreements that become effective in 2024. |
Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet | Information about the fair values of derivative instruments in the Company’s Consolidated Balance Sheet and Consolidated Statement of Income follows: Asset Derivatives Liability Derivatives Fair Value Fair Value March 31, December 31, March 31, December 31, (Dollars in millions) 2024 2023 2024 2023 Derivatives designated and qualifying as hedging Interest rate swap agreements $ 3 $ 12 $ 1 $ 2 Commitments to sell real estate loans 11 6 1 8 14 18 2 10 Derivatives not designated and qualifying as hedging Mortgage banking: Commitments to originate real estate loans for sale 6 15 36 32 Commitments to sell real estate loans 40 35 2 3 46 50 38 35 Other: Interest rate contracts (b) 243 237 1,019 879 Foreign exchange and other option and futures contracts 15 19 13 19 258 256 1,032 898 Total derivatives $ 318 $ 324 $ 1,072 $ 943 (a) Asset derivatives are reported in "accrued interest and other assets" and liability derivatives are reported in "accrued interest and other liabilities" in the Consolidated Balance Sheet. (b) The impact of variation margin payments at March 31, 2024 and December 31, 2023 was a reduction of the estimated fair value of interest rate contracts not designated as hedging instruments in an asset position of $ 893 million and $ 783 million , respectively, as of each period end, and in a liability position of $ 16 million and $ 32 million , respectively. Carrying Amount of the Hedged Item Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount of the Hedged Item (Dollars in millions) March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Location in the Consolidated Balance Sheet Hedges Long-term borrowings $ 3,742 $ 2,954 $ ( 104 ) $ ( 44 ) |
Information about Fair Values of Derivative Instruments in Consolidated Statement of Income | Amount of Gain (Loss) Recognized Three Months Ended March 31, 2024 2023 (Dollars in millions) Derivative Hedged Item Derivative Hedged Item Derivatives in fair value hedging relationships Interest rate swap agreements: Fixed rate long-term borrowings (a) $ ( 60 ) $ 60 $ 12 $ ( 12 ) Derivatives not designated as hedging instruments Interest rate contracts (b) $ 3 $ 8 Foreign exchange and other option and futures contracts (b) 4 4 Total $ 7 $ 12 (a) Reported as an adjustment to "interest expense" in the Consolidated Statement of Income. (b) Reported as "trading account and other non-hedging derivative gains" in the Consolidated Statement of Income. |
Variable interest entities an_2
Variable interest entities and asset securitizations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Variable Interest Entity Disclosure [Abstract] | |
Schedule of Carrying Amount of Investments In Tax Equity Partnerships and Related Future Funding Commitments | Information on the Company’s carrying amount of its investments in tax equity partnerships and its related future funding commitments are presented in the following table: (Dollars in millions) March 31, 2024 December 31, 2023 Affordable housing projects: Carrying amount (a) $ 1,323 $ 1,340 Amount of future funding commitments included in carrying amount (b) 379 410 Contingent commitments 55 55 Renewable energy: Carrying amount (a) 79 80 Amount of future funding commitments included in carrying amount (b) 49 31 Other: Carrying amount (a) 40 41 Amount of future funding commitments included in carrying amount (b) — — (a) Included in "accrued interest and other assets" in the Consolidated Balance Sheet . (b) Included in "accrued interest and other liabilities" in the Consolidated Balance Sheet. |
Fair value measurements (Tables
Fair value measurements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis | The following tables present assets and liabilities at March 31, 2024 and December 31, 2023 measured at estimated fair value on a recurring basis: (Dollars in millions) Fair Value Measurements Level 1 Level 2 Level 3 (a) March 31, 2024 Trading account $ 99 $ 99 $ — $ — Investment securities available for sale: U.S. Treasury and federal agencies 7,719 — 7,719 — Mortgage-backed securities: Government issued or guaranteed Commercial 1,343 — 1,343 — Residential 2,910 — 2,910 — Other debt securities 162 — 162 — 12,134 — 12,134 — Equity securities 356 343 13 — Real estate loans held for sale 728 — 728 — Other assets (b) 318 — 312 6 Total assets $ 13,635 $ 442 $ 13,187 $ 6 Other liabilities (b) $ 1,072 $ — $ 1,036 $ 36 Total liabilities $ 1,072 $ — $ 1,036 $ 36 December 31, 2023 Trading account $ 106 $ 101 $ 5 $ — Investment securities available for sale: U.S. Treasury and federal agencies 7,705 — 7,705 — Mortgage-backed securities: Government issued or guaranteed Commercial 416 — 416 — Residential 2,154 — 2,154 — Other debt securities 165 — 165 — 10,440 — 10,440 — Equity securities 268 258 10 — Real estate loans held for sale 379 — 379 — Other assets (b) 324 — 309 15 Total assets $ 11,517 $ 359 $ 11,143 $ 15 Other liabilities (b) $ 943 $ — $ 911 $ 32 Total liabilities $ 943 $ — $ 911 $ 32 (a) Significant unobservable inputs used in the fair value measurement of commitments to originate real estate loans held for sale included weighted-average commitment expirations of 8 % at March 31, 2024 and 5 % at December 31, 2023. An increase (decrease) in the estimate of expirations for commitments to originate real estate loans would generally result in a lower (higher) fair value measurement. Estimated commitment expirations are derived considering loan type, changes in interest rates and remaining length of time until closing. (b) Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), interest rate and foreign exchange contracts not designated as hedging instruments (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3). |
Carrying Amounts and Estimated Fair Value for Certain Financial Instruments | The carrying amounts and estimated fair value for certain financial instruments that are not recorded at fair value in the Consolidated Balance Sheet are presented in the following tables: (Dollars in millions) Carrying Estimated Level 1 Level 2 Level 3 March 31, 2024 Financial assets: Cash and cash equivalents $ 1,695 $ 1,695 $ 1,396 $ 299 $ — Interest-bearing deposits at banks 32,144 32,144 — 32,144 — Investment securities held to maturity 15,078 13,865 — 13,821 44 Loans and leases, net 132,782 129,771 — 7,354 122,417 Financial liabilities: Time deposits 20,279 20,236 — 20,236 — Short-term borrowings 4,795 4,795 — 4,795 — Long-term borrowings 11,450 11,370 — 11,370 — December 31, 2023 Financial assets: Cash and cash equivalents 1,731 1,731 1,668 63 — Interest-bearing deposits at banks 28,069 28,069 — 28,069 — Investment securities held to maturity 15,330 14,308 — 14,262 46 Loans and leases, net 131,939 129,138 — 7,240 121,898 Financial liabilities: Time deposits 20,759 20,715 — 20,715 — Short-term borrowings 5,316 5,316 — 5,316 — Long-term borrowings 8,201 8,107 — 8,107 — |
Commitments and contingencies (
Commitments and contingencies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities Outstanding | The following table presents the Company's significant commitments. Certain of these commitments are not included in the Company's Consolidated Balance Sheet. March 31, December 31, (Dollars in millions) 2024 2023 Commitments to extend credit: Commercial and industrial $ 28,439 $ 28,566 Commercial real estate loans to be sold 451 916 Other commercial real estate 4,413 5,019 Residential real estate loans to be sold 211 163 Other residential real estate 393 331 Home equity lines of credit 8,080 8,109 Credit cards 5,651 5,578 Other 389 413 Standby letters of credit 2,230 2,289 Commercial letters of credit 56 62 Financial guarantees and indemnification contracts 4,129 4,036 Commitments to sell real estate loans 1,329 1,400 |
Segment information (Tables)
Segment information (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Information about Company's Segments | Information about the Company's segments follows: Three Months Ended March 31, 2024 2023 (Dollars in millions) Total Revenues(a) Inter- Net Total Average Assets Total Revenues(a) Inter- Net Total Average Assets Commercial Bank $ 699 $ 2 $ 201 $ 81,083 $ 811 $ 2 $ 333 $ 79,034 Retail Bank 1,268 — 446 52,232 1,234 — 452 51,293 Institutional Services and Wealth 377 3 128 3,636 390 3 110 3,655 All Other ( 84 ) ( 5 ) ( 244 ) 74,527 ( 30 ) ( 5 ) ( 193 ) 68,617 Total $ 2,260 $ — $ 531 $ 211,478 $ 2,405 $ — $ 702 $ 202,599 (a) Total revenues are comprised of net interest income and other income. Net interest income is the difference between taxable-equivalent interest earned on assets and interest paid on liabilities owed by a segment and a funding charge (credit) based on the Company's internal funds transfer and allocation methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $ 12 million and $ 14 million for the three-month periods ended March 31, 2024 and 2023 and is eliminated in "All Other" total revenues. |
Divestiture - Additional Inform
Divestiture - Additional Information (Details) - Trust Income [Member] - USD ($) $ in Millions | 3 Months Ended | ||
Apr. 29, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Business Acquisition [Line Items] | |||
Revenue from contract with customer | $ 160 | $ 194 | |
Collective Investment Trust [Member] | |||
Business Acquisition [Line Items] | |||
Gain (loss) on sale of subsidiary, pre-tax | $ 225 | ||
Gain (loss) on sale of subsidiary after-tax effect | $ 157 | ||
Revenue from contract with customer | $ 45 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | $ 12,397 | $ 10,691 |
Investment securities available for sale, gross unrealized gains | 1 | |
Investment securities available for sale, gross unrealized losses | 264 | 251 |
Investment securities available for sale, estimated fair value | 12,134 | 10,440 |
Amortized cost for held to maturity | 15,078 | 15,330 |
Gross unrealized gains for held to maturity | 9 | 13 |
Gross unrealized losses for held to maturity | 1,222 | 1,035 |
Estimated fair value for held to maturity | 13,865 | 14,308 |
Equity and other securities, Amortized Cost | 1,279 | 1,125 |
Equity securities, Gross Unrealized Gains | 8 | 5 |
Equity securities, Gross Unrealized Losses | 3 | 3 |
Equity and other securities, Estimated Fair Value | 1,284 | 1,127 |
Other securities, Amortized cost | 928 | 859 |
Other securities, Estimated fair value | 928 | 859 |
Total debt securities Amortized cost | 27,475 | 26,021 |
Total debt securities Gross unrealized gains | 10 | 13 |
Total debt securities Gross unrealized losses | 1,486 | 1,286 |
Total debt securities Estimated fair value | 25,999 | 24,748 |
Readily marketable securities Amortized cost | 351 | 266 |
Readily marketable securities Gross unrealized gains | 8 | 5 |
Readily marketable securities Gross unrealized losses | 3 | 3 |
Readily marketable securities Estimated fair value | 356 | 268 |
U.S. Treasury and Federal Agencies [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 7,818 | 7,818 |
Investment securities available for sale, gross unrealized losses | 99 | 113 |
Investment securities available for sale, estimated fair value | 7,719 | 7,705 |
Amortized cost for held to maturity | 1,007 | 1,005 |
Gross unrealized losses for held to maturity | 33 | 31 |
Estimated fair value for held to maturity | 974 | 974 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Amortized cost for held to maturity | 2,466 | 2,501 |
Gross unrealized losses for held to maturity | 94 | 67 |
Estimated fair value for held to maturity | 2,372 | 2,434 |
Commercial [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 1,355 | 425 |
Investment securities available for sale, gross unrealized gains | 1 | |
Investment securities available for sale, gross unrealized losses | 13 | 9 |
Investment securities available for sale, estimated fair value | 1,343 | 416 |
Amortized cost for held to maturity | 2,035 | 2,033 |
Gross unrealized losses for held to maturity | 154 | 130 |
Estimated fair value for held to maturity | 1,881 | 1,903 |
Residential [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 3,053 | 2,272 |
Investment securities available for sale, gross unrealized losses | 143 | 118 |
Investment securities available for sale, estimated fair value | 2,910 | 2,154 |
Amortized cost for held to maturity | 9,527 | 9,747 |
Gross unrealized gains for held to maturity | 4 | |
Gross unrealized losses for held to maturity | 935 | 802 |
Estimated fair value for held to maturity | 8,592 | 8,949 |
Other Debt Securities [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 171 | 176 |
Investment securities available for sale, gross unrealized losses | 9 | 11 |
Investment securities available for sale, estimated fair value | 162 | 165 |
Amortized cost for held to maturity | 2 | 2 |
Estimated fair value for held to maturity | 2 | 2 |
Privately Issued [Member] | ||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items] | ||
Amortized cost for held to maturity | 41 | 42 |
Gross unrealized gains for held to maturity | 9 | 9 |
Gross unrealized losses for held to maturity | 6 | 5 |
Estimated fair value for held to maturity | $ 44 | $ 46 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2024 USD ($) Security | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Summary of Investment Holdings [Line Items] | |||
Gross realized gains(loss) on sale of investment securities | $ 0 | $ 0 | |
Gains (losses) on equity securities | $ 2,000,000 | ||
Number of debt securities with aggregate gross unrealized losses | Security | 4,088 | ||
Unrealized losses on individual debt securities | $ (1,500,000,000) | ||
Cost method equity securities | 928,000,000 | ||
Investment securities pledged to secure debt carrying value | 9,600,000,000 | $ 8,200,000,000 | |
Carrying value of investment securities pledged related to repurchase transactions | 357,000,000 | 393,000,000 | |
Available-for-Sale Securities [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Allowance for credit losses | $ 0 | $ 0 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Debt securities available for sale: | ||
Due in one year or less | $ 3,248 | |
Due after one year through five years | 4,691 | |
Due after five years through ten years | 50 | |
Total available for sale (amortized cost) | 7,989 | |
Mortgage-backed securities | 4,408 | |
Investment securities available for sale, amortized cost | 12,397 | $ 10,691 |
Debt securities held to maturity: | ||
Due in one year or less | 588 | |
Due after one year through five years | 635 | |
Due after five years through ten years | 1,369 | |
Due after ten years | 883 | |
Total available for held to maturity (amortized cost) | 3,475 | |
Mortgage-backed securities | 11,603 | |
Amortized cost for held to maturity | 15,078 | 15,330 |
Debt securities available for sale: | ||
Due in one year or less | 3,209 | |
Due after one year through five years | 4,628 | |
Due after five years through ten years | 44 | |
Total available for sale (fair value) | 7,881 | |
Mortgage-backed securities | 4,253 | |
Total | 12,134 | 10,440 |
Debt securities held to maturity: | ||
Due in one year or less | 575 | |
Due after one year through five years | 611 | |
Due after five years through ten years | 1,333 | |
Due after ten years | 829 | |
Total available for held to maturity (fair value) | 3,348 | |
Mortgage-backed securities | 10,517 | |
Total | $ 13,865 | $ 14,308 |
Investment Securities - Investm
Investment Securities - Investment Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | $ 3,820 | $ 460 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 22 | 4 |
Estimated fair value, 12 months or more | 7,690 | 9,917 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 242 | 247 |
Held to maturity, Estimated fair value, Less than 12 months | 1,397 | 1,551 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 22 | 23 |
Held to maturity, Estimated fair value, 12 months or more | 12,410 | 11,844 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 1,200 | 1,012 |
Total investment securities, fair value less than 12 months | 5,217 | 2,011 |
Investment Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses | 44 | 27 |
Total of investment securities, fair value, 12 Months or More | 20,100 | 21,761 |
Investment Securities Continuous Unrealized Loss Position Twelve Months or Longer Aggregate Losses | 1,442 | 1,259 |
U.S. Treasury and Federal Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 2,242 | 229 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 10 | 1 |
Estimated fair value, 12 months or more | 5,177 | 7,474 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 89 | 112 |
Held to maturity, Estimated fair value, Less than 12 months | 49 | 50 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 1 | |
Held to maturity, Estimated fair value, 12 months or more | 925 | 924 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 32 | 31 |
Commercial [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 765 | 74 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 6 | 1 |
Estimated fair value, 12 months or more | 393 | 330 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 7 | 8 |
Held to maturity, Estimated fair value, Less than 12 months | 172 | 328 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 9 | 9 |
Held to maturity, Estimated fair value, 12 months or more | 1,709 | 1,575 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 145 | 121 |
Residential [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 813 | 151 |
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses | 6 | 2 |
Estimated fair value, 12 months or more | 1,964 | 1,959 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 137 | 116 |
Held to maturity, Estimated fair value, Less than 12 months | 1,133 | 955 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 12 | 11 |
Held to maturity, Estimated fair value, 12 months or more | 7,459 | 7,139 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 923 | 791 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Held to maturity, Estimated fair value, Less than 12 months | 43 | 218 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses | 3 | |
Held to maturity, Estimated fair value, 12 months or more | 2,284 | 2,172 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | 94 | 64 |
Other Debt Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Estimated fair value, Less than 12 months | 6 | |
Estimated fair value, 12 months or more | 156 | 154 |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses | 9 | 11 |
Privately Issued [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Held to maturity, Estimated fair value, 12 months or more | 33 | 34 |
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses | $ 6 | $ 5 |
Loans and Leases and the Allo_3
Loans and Leases and the Allowance for Credit Losses - Summary of Current, Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | $ 1,410 | $ 1,724 |
Accruing Loans Past Due 90 Days or More | 297 | 339 |
Nonaccrual | 2,302 | 2,166 |
Loans and leases, net of unearned discount | 134,973 | 134,068 |
Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 130,964 | 129,839 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 219 | 238 |
Accruing Loans Past Due 90 Days or More | 11 | 11 |
Nonaccrual | 864 | 670 |
Loans and leases, net of unearned discount | 57,897 | 57,010 |
Commercial and Industrial [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 56,803 | 56,091 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 163 | 311 |
Accruing Loans Past Due 90 Days or More | 31 | 25 |
Nonaccrual | 855 | 869 |
Loans and leases, net of unearned discount | 25,168 | 25,277 |
Commercial [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 24,119 | 24,072 |
Residential Builder and Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 48 | 5 |
Nonaccrual | 3 | 3 |
Loans and leases, net of unearned discount | 1,035 | 1,073 |
Residential Builder and Developer [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 984 | 1,065 |
Other Commercial Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 155 | 159 |
Accruing Loans Past Due 90 Days or More | 2 | 1 |
Nonaccrual | 141 | 171 |
Loans and leases, net of unearned discount | 6,213 | 6,653 |
Other Commercial Construction [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,915 | 6,322 |
Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 627 | 763 |
Accruing Loans Past Due 90 Days or More | 245 | 295 |
Nonaccrual | 202 | 215 |
Loans and leases, net of unearned discount | 22,192 | 22,353 |
Residential [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 21,118 | 21,080 |
Residential Limited Documentation [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 30 | 31 |
Nonaccrual | 53 | 55 |
Loans and leases, net of unearned discount | 884 | 911 |
Residential Limited Documentation [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 801 | 825 |
Home Equity Lines and Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 34 | 40 |
Nonaccrual | 87 | 81 |
Loans and leases, net of unearned discount | 4,558 | 4,649 |
Home Equity Lines and Loans [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,437 | 4,528 |
Recreational Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 71 | 87 |
Nonaccrual | 30 | 36 |
Loans and leases, net of unearned discount | 10,654 | 10,058 |
Recreational Finance [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,553 | 9,935 |
Automobile [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 43 | 60 |
Nonaccrual | 13 | 14 |
Loans and leases, net of unearned discount | 4,308 | 3,992 |
Automobile [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,252 | 3,918 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-89 Days Past Due | 20 | 30 |
Accruing Loans Past Due 90 Days or More | 8 | 7 |
Nonaccrual | 54 | 52 |
Loans and leases, net of unearned discount | 2,064 | 2,092 |
Other [Member] | Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 1,982 | $ 2,003 |
Loans and Leases and the Allo_4
Loans and Leases and the Allowance for Credit Losses - Summary of Current, Past Due and Nonaccrual Loans (Parenthetical) (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Commercial [Member] | Commercial Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage loans held for sale | $ 563 | $ 189 |
One-to-Four Family Residential [Member] | Residential [Member] | Residential Mortgage Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage loans held for sale | $ 165 | $ 190 |
Loans and Leases and the Allo_5
Loans and Leases and the Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Loans And Leases Receivable [Line Items] | |||
Amount of foreclosed residential real estate property held | $ 38 | $ 39 | |
Loans secured by residential real estate that were in the process of foreclosure | $ 165 | 170 | |
Percentage loans in the process of foreclosure, serviced by other entities, classified as government guaranteed | 35% | ||
Minimum [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loan delinquent period | 90 days | ||
Maximum [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Loan delinquent period | 150 days | ||
Commercial and Industrial [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Weighted-average remaining term | 8 months 12 days | 1 year 2 months 12 days | |
Commercial Real Estate Loans [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Weighted-average remaining term | 9 months 18 days | 1 year 2 months 12 days | |
Commercial Loans and Commercial Real Estate [Member] | Minimum [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Amount of real estate loan as reported as accruing or nonaccruing | $ 5 | ||
Residential Real Estate Loans [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Weighted-average remaining term | 11 years 4 months 24 days | 9 years 1 month 6 days | |
Commercial and Industrial Loans [Member] | Asset Pledged as Collateral without Right [Member] | FHLBs Facility [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Pledged financial instruments | $ 14,900 | 13,400 | |
Residential Mortgage Loans [Member] | Asset Pledged as Collateral without Right [Member] | FHLBs Facility [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Pledged financial instruments | 18,600 | 18,800 | |
Commercial Real Estate Loans [Member] | Asset Pledged as Collateral without Right [Member] | FHLBs Facility [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Pledged financial instruments | 16,200 | 16,400 | |
Home Equity Loans and Lines of Credit [Member] | Asset Pledged as Collateral without Right [Member] | FHLBs Facility [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Pledged financial instruments | 2,600 | 2,600 | |
Other Consumer Loans [Member] | Asset Pledged as Collateral without Right [Member] | FHLBs Facility [Member] | |||
Loans And Leases Receivable [Line Items] | |||
Pledged financial instruments | $ 10,900 | $ 11,000 |
Loans and Leases and the Allo_6
Loans and Leases and the Allowance for Credit Losses - Summary of Loan grades applied various classes of Commercial and Industrial Loans and Commercial Real Estate Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | $ 134,973 | $ 134,068 |
Gross charge-offs | 163 | |
Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 29,937 | 29,237 |
Gross charge-offs | 68 | |
Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,595 | 1,619 |
Gross charge-offs | 1 | |
Term Loans 2024 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,121 | |
Gross charge-offs | 1 | |
Term Loans 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 17,431 | 18,423 |
Gross charge-offs | 15 | |
Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 20,835 | 21,683 |
Gross charge-offs | 21 | |
Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 14,385 | 15,025 |
Gross charge-offs | 13 | |
Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 10,088 | 10,555 |
Gross charge-offs | 9 | |
Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 10,062 | |
Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 35,581 | 27,464 |
Gross charge-offs | 35 | |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 57,897 | 57,010 |
Gross charge-offs | 78 | |
Commercial and Industrial [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 24,828 | 24,048 |
Gross charge-offs | 50 | |
Commercial and Industrial [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 125 | 114 |
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 53,497 | 53,251 |
Commercial and Industrial [Member] | Pass [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 22,719 | 22,345 |
Commercial and Industrial [Member] | Pass [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 74 | 70 |
Commercial and Industrial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,536 | 3,089 |
Commercial and Industrial [Member] | Criticized Accrual [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,745 | 1,460 |
Commercial and Industrial [Member] | Criticized Accrual [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 35 | 31 |
Commercial and Industrial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 864 | 670 |
Commercial and Industrial [Member] | Criticized Nonaccrual [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 364 | 243 |
Commercial and Industrial [Member] | Criticized Nonaccrual [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 16 | 13 |
Commercial and Industrial [Member] | Term Loans 2024 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,046 | |
Commercial and Industrial [Member] | Term Loans 2024 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,012 | |
Commercial and Industrial [Member] | Term Loans 2024 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 32 | |
Commercial and Industrial [Member] | Term Loans 2024 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | |
Commercial and Industrial [Member] | Term Loans 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 8,489 | 9,010 |
Gross charge-offs | 7 | |
Commercial and Industrial [Member] | Term Loans 2023 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 8,129 | 8,689 |
Commercial and Industrial [Member] | Term Loans 2023 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 306 | 292 |
Commercial and Industrial [Member] | Term Loans 2023 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 54 | 29 |
Commercial and Industrial [Member] | Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 8,078 | 8,434 |
Gross charge-offs | 9 | |
Commercial and Industrial [Member] | Term Loans 2022 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7,567 | 8,087 |
Commercial and Industrial [Member] | Term Loans 2022 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 422 | 279 |
Commercial and Industrial [Member] | Term Loans 2022 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 89 | 68 |
Commercial and Industrial [Member] | Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,780 | 5,133 |
Gross charge-offs | 4 | |
Commercial and Industrial [Member] | Term Loans 2021 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,441 | 4,800 |
Commercial and Industrial [Member] | Term Loans 2021 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 277 | 277 |
Commercial and Industrial [Member] | Term Loans 2021 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 62 | 56 |
Commercial and Industrial [Member] | Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,287 | 2,465 |
Gross charge-offs | 3 | |
Commercial and Industrial [Member] | Term Loans 2020 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,099 | 2,248 |
Commercial and Industrial [Member] | Term Loans 2020 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 117 | 142 |
Commercial and Industrial [Member] | Term Loans 2020 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 71 | 75 |
Commercial and Industrial [Member] | Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,332 | |
Commercial and Industrial [Member] | Term Loans 2019 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,169 | |
Commercial and Industrial [Member] | Term Loans 2019 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 127 | |
Commercial and Industrial [Member] | Term Loans 2019 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 36 | |
Commercial and Industrial [Member] | Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7,264 | 5,474 |
Gross charge-offs | 5 | |
Commercial and Industrial [Member] | Term Loans Prior Period [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 6,456 | 4,843 |
Commercial and Industrial [Member] | Term Loans Prior Period [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 602 | 481 |
Commercial and Industrial [Member] | Term Loans Prior Period [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 206 | 150 |
Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 25,168 | 25,277 |
Gross charge-offs | 13 | |
Commercial [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 444 | 450 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 19,188 | 19,158 |
Commercial [Member] | Pass [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 435 | 440 |
Commercial [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,125 | 5,250 |
Commercial [Member] | Criticized Accrual [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 7 | 7 |
Commercial [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 855 | 869 |
Commercial [Member] | Criticized Nonaccrual [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | 3 |
Commercial [Member] | Term Loans 2024 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 696 | |
Commercial [Member] | Term Loans 2024 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 696 | |
Commercial [Member] | Term Loans 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,056 | 2,275 |
Commercial [Member] | Term Loans 2023 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,783 | 2,048 |
Commercial [Member] | Term Loans 2023 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 273 | 227 |
Commercial [Member] | Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,513 | 2,679 |
Commercial [Member] | Term Loans 2022 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,652 | 1,742 |
Commercial [Member] | Term Loans 2022 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 815 | 891 |
Commercial [Member] | Term Loans 2022 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 46 | 46 |
Commercial [Member] | Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,806 | 1,835 |
Commercial [Member] | Term Loans 2021 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,331 | 1,367 |
Commercial [Member] | Term Loans 2021 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 464 | 465 |
Commercial [Member] | Term Loans 2021 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11 | 3 |
Commercial [Member] | Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,672 | 2,580 |
Commercial [Member] | Term Loans 2020 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,013 | 2,011 |
Commercial [Member] | Term Loans 2020 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 558 | 456 |
Commercial [Member] | Term Loans 2020 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 101 | 113 |
Commercial [Member] | Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 4,118 | |
Commercial [Member] | Term Loans 2019 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,059 | |
Commercial [Member] | Term Loans 2019 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 966 | |
Commercial [Member] | Term Loans 2019 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 93 | |
Commercial [Member] | Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 14,981 | 11,340 |
Gross charge-offs | 13 | |
Commercial [Member] | Term Loans Prior Period [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11,278 | 8,491 |
Commercial [Member] | Term Loans Prior Period [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,008 | 2,238 |
Commercial [Member] | Term Loans Prior Period [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 695 | 611 |
Residential Builder and Developer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,035 | 1,073 |
Gross charge-offs | 1 | |
Residential Builder and Developer [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 104 | 119 |
Residential Builder and Developer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 940 | 959 |
Residential Builder and Developer [Member] | Pass [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 102 | 116 |
Residential Builder and Developer [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 92 | 111 |
Residential Builder and Developer [Member] | Criticized Accrual [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | 3 |
Residential Builder and Developer [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3 | 3 |
Residential Builder and Developer [Member] | Term Loans 2024 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 89 | |
Residential Builder and Developer [Member] | Term Loans 2024 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 89 | |
Residential Builder and Developer [Member] | Term Loans 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 511 | 531 |
Residential Builder and Developer [Member] | Term Loans 2023 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 509 | 530 |
Residential Builder and Developer [Member] | Term Loans 2023 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | 1 |
Residential Builder and Developer [Member] | Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 208 | 270 |
Residential Builder and Developer [Member] | Term Loans 2022 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 187 | 252 |
Residential Builder and Developer [Member] | Term Loans 2022 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 21 | 18 |
Residential Builder and Developer [Member] | Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 57 | 74 |
Residential Builder and Developer [Member] | Term Loans 2021 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 34 | 41 |
Residential Builder and Developer [Member] | Term Loans 2021 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 21 | 30 |
Residential Builder and Developer [Member] | Term Loans 2021 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | 3 |
Residential Builder and Developer [Member] | Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5 | 6 |
Residential Builder and Developer [Member] | Term Loans 2020 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5 | 6 |
Residential Builder and Developer [Member] | Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 61 | |
Residential Builder and Developer [Member] | Term Loans 2019 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | |
Residential Builder and Developer [Member] | Term Loans 2019 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 59 | |
Residential Builder and Developer [Member] | Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 61 | 12 |
Gross charge-offs | 1 | |
Residential Builder and Developer [Member] | Term Loans Prior Period [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 14 | 12 |
Residential Builder and Developer [Member] | Term Loans Prior Period [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 46 | |
Residential Builder and Developer [Member] | Term Loans Prior Period [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1 | |
Other Commercial Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 6,213 | 6,653 |
Gross charge-offs | 11 | |
Other Commercial Construction [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 45 | 32 |
Gross charge-offs | 2 | |
Other Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 3,745 | 4,066 |
Other Commercial Construction [Member] | Pass [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 45 | 30 |
Other Commercial Construction [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2,327 | 2,416 |
Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 141 | 171 |
Other Commercial Construction [Member] | Criticized Nonaccrual [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | |
Other Commercial Construction [Member] | Term Loans 2024 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 27 | |
Other Commercial Construction [Member] | Term Loans 2024 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 27 | |
Other Commercial Construction [Member] | Term Loans 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,065 | 866 |
Other Commercial Construction [Member] | Term Loans 2023 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 990 | 813 |
Other Commercial Construction [Member] | Term Loans 2023 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 75 | 53 |
Other Commercial Construction [Member] | Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,780 | 1,771 |
Gross charge-offs | 2 | |
Other Commercial Construction [Member] | Term Loans 2022 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,231 | 1,366 |
Other Commercial Construction [Member] | Term Loans 2022 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 538 | 391 |
Other Commercial Construction [Member] | Term Loans 2022 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 11 | 14 |
Other Commercial Construction [Member] | Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,060 | 1,051 |
Other Commercial Construction [Member] | Term Loans 2021 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 590 | 651 |
Other Commercial Construction [Member] | Term Loans 2021 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 460 | 390 |
Other Commercial Construction [Member] | Term Loans 2021 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 10 | 10 |
Other Commercial Construction [Member] | Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 885 | 1,110 |
Other Commercial Construction [Member] | Term Loans 2020 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 273 | 373 |
Other Commercial Construction [Member] | Term Loans 2020 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 567 | 691 |
Other Commercial Construction [Member] | Term Loans 2020 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 45 | 46 |
Other Commercial Construction [Member] | Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,261 | |
Other Commercial Construction [Member] | Term Loans 2019 [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 646 | |
Other Commercial Construction [Member] | Term Loans 2019 [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 565 | |
Other Commercial Construction [Member] | Term Loans 2019 [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 50 | |
Other Commercial Construction [Member] | Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,351 | 562 |
Gross charge-offs | 7 | |
Other Commercial Construction [Member] | Term Loans Prior Period [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 589 | 187 |
Other Commercial Construction [Member] | Term Loans Prior Period [Member] | Criticized Accrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 687 | 326 |
Other Commercial Construction [Member] | Term Loans Prior Period [Member] | Criticized Nonaccrual [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | $ 75 | $ 49 |
Loans and Leases and the Allo_7
Loans and Leases and the Allowance for Credit Losses - Summary of loans in Accrual and Nonaccrual Status (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | $ 1,410 | $ 1,724 |
Accruing Loans Past Due 90 Days or More | 297 | 339 |
Nonaccrual | 2,302 | 2,166 |
Loans and leases, net of unearned discount | 134,973 | 134,068 |
Gross charge-offs | 163 | |
Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 29,937 | 29,237 |
Gross charge-offs | 68 | |
Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 1,595 | 1,619 |
Gross charge-offs | 1 | |
Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 627 | 763 |
Accruing Loans Past Due 90 Days or More | 245 | 295 |
Nonaccrual | 202 | 215 |
Loans and leases, net of unearned discount | 22,192 | 22,353 |
Gross charge-offs | 1 | |
Residential [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Nonaccrual | 1 | 1 |
Loans and leases, net of unearned discount | 94 | 96 |
Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 30 | 31 |
Nonaccrual | 53 | 55 |
Loans and leases, net of unearned discount | 884 | 911 |
Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 34 | 40 |
Nonaccrual | 87 | 81 |
Loans and leases, net of unearned discount | 4,558 | 4,649 |
Gross charge-offs | 1 | |
Home Equity Lines and Loans [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Nonaccrual | 1 | 3 |
Loans and leases, net of unearned discount | 2,973 | 3,025 |
Home Equity Lines and Loans [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 31 | 37 |
Nonaccrual | 81 | 73 |
Loans and leases, net of unearned discount | 1,468 | 1,501 |
Gross charge-offs | 1 | |
Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 71 | 87 |
Nonaccrual | 30 | 36 |
Loans and leases, net of unearned discount | 10,654 | 10,058 |
Gross charge-offs | 25 | |
Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 43 | 60 |
Nonaccrual | 13 | 14 |
Loans and leases, net of unearned discount | 4,308 | 3,992 |
Gross charge-offs | 8 | |
Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 20 | 30 |
Accruing Loans Past Due 90 Days or More | 8 | 7 |
Nonaccrual | 54 | 52 |
Loans and leases, net of unearned discount | 2,064 | 2,092 |
Gross charge-offs | 25 | |
Other [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 12 | 20 |
Accruing Loans Past Due 90 Days or More | 8 | 7 |
Nonaccrual | 51 | 48 |
Loans and leases, net of unearned discount | 1,449 | 1,467 |
Gross charge-offs | 16 | |
Other [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | 1 |
Loans and leases, net of unearned discount | 2 | 4 |
Current [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 130,964 | 129,839 |
Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 21,118 | 21,080 |
Current [Member] | Residential [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 93 | 95 |
Current [Member] | Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 801 | 825 |
Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,437 | 4,528 |
Current [Member] | Home Equity Lines and Loans [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,972 | 3,022 |
Current [Member] | Home Equity Lines and Loans [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,356 | 1,391 |
Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,553 | 9,935 |
Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,252 | 3,918 |
Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,982 | 2,003 |
Current [Member] | Other [Member] | Revolving Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,378 | 1,392 |
Current [Member] | Other [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1 | 3 |
Term Loans 2024 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 5,121 | |
Gross charge-offs | 1 | |
Term Loans 2024 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 478 | |
Term Loans 2024 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | |
Loans and leases, net of unearned discount | 1,029 | |
Term Loans 2024 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | |
Loans and leases, net of unearned discount | 685 | |
Term Loans 2024 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | |
Nonaccrual | 1 | |
Loans and leases, net of unearned discount | 71 | |
Gross charge-offs | 1 | |
Term Loans 2024 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 478 | |
Term Loans 2024 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,028 | |
Term Loans 2024 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 684 | |
Term Loans 2024 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 69 | |
Term Loans 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 17,431 | 18,423 |
Gross charge-offs | 15 | |
Term Loans 2023 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6 | 18 |
Accruing Loans Past Due 90 Days or More | 2 | 1 |
Nonaccrual | 1 | 1 |
Loans and leases, net of unearned discount | 1,508 | 1,746 |
Term Loans 2023 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 11 | 11 |
Nonaccrual | 4 | 3 |
Loans and leases, net of unearned discount | 2,546 | 2,667 |
Gross charge-offs | 3 | |
Term Loans 2023 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 7 | 8 |
Nonaccrual | 2 | 2 |
Loans and leases, net of unearned discount | 1,035 | 1,073 |
Gross charge-offs | 2 | |
Term Loans 2023 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | 3 |
Nonaccrual | 1 | 2 |
Loans and leases, net of unearned discount | 221 | 255 |
Gross charge-offs | 3 | |
Term Loans 2023 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,499 | 1,726 |
Term Loans 2023 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,531 | 2,653 |
Term Loans 2023 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,026 | 1,063 |
Term Loans 2023 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 219 | 250 |
Term Loans 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 20,835 | 21,683 |
Gross charge-offs | 21 | |
Term Loans 2022 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 107 | 120 |
Accruing Loans Past Due 90 Days or More | 21 | 30 |
Nonaccrual | 15 | 17 |
Loans and leases, net of unearned discount | 4,810 | 4,876 |
Term Loans 2022 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 12 | 16 |
Nonaccrual | 6 | 5 |
Loans and leases, net of unearned discount | 2,270 | 2,359 |
Gross charge-offs | 5 | |
Term Loans 2022 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 11 | 15 |
Nonaccrual | 2 | 3 |
Loans and leases, net of unearned discount | 1,017 | 1,114 |
Gross charge-offs | 2 | |
Term Loans 2022 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 3 | 3 |
Nonaccrual | 1 | 1 |
Loans and leases, net of unearned discount | 159 | 180 |
Gross charge-offs | 3 | |
Term Loans 2022 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,667 | 4,709 |
Term Loans 2022 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,252 | 2,338 |
Term Loans 2022 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,004 | 1,096 |
Term Loans 2022 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 155 | 176 |
Term Loans 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 14,385 | 15,025 |
Gross charge-offs | 13 | |
Term Loans 2021 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 62 | 88 |
Accruing Loans Past Due 90 Days or More | 19 | 28 |
Nonaccrual | 10 | 10 |
Loans and leases, net of unearned discount | 3,808 | 3,858 |
Term Loans 2021 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | 2 |
Term Loans 2021 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 14 | 19 |
Nonaccrual | 6 | 8 |
Loans and leases, net of unearned discount | 1,810 | 1,884 |
Gross charge-offs | 6 | |
Term Loans 2021 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 11 | 17 |
Nonaccrual | 3 | 3 |
Loans and leases, net of unearned discount | 956 | 1,067 |
Gross charge-offs | 2 | |
Term Loans 2021 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | 2 |
Nonaccrual | 1 | |
Loans and leases, net of unearned discount | 106 | 121 |
Gross charge-offs | 1 | |
Term Loans 2021 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,717 | 3,732 |
Term Loans 2021 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | 2 |
Term Loans 2021 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,790 | 1,857 |
Term Loans 2021 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 942 | 1,047 |
Term Loans 2021 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 105 | 118 |
Term Loans 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 10,088 | 10,555 |
Gross charge-offs | 9 | |
Term Loans 2020 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 30 | 52 |
Accruing Loans Past Due 90 Days or More | 15 | 17 |
Nonaccrual | 2 | 3 |
Loans and leases, net of unearned discount | 2,580 | 2,615 |
Term Loans 2020 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 2 | 2 |
Term Loans 2020 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 13 | 14 |
Nonaccrual | 4 | 6 |
Loans and leases, net of unearned discount | 1,250 | 1,306 |
Gross charge-offs | 4 | |
Term Loans 2020 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6 | 9 |
Nonaccrual | 2 | 2 |
Loans and leases, net of unearned discount | 379 | 438 |
Gross charge-offs | 1 | |
Term Loans 2020 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 28 | 33 |
Gross charge-offs | 1 | |
Term Loans 2020 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,533 | 2,543 |
Term Loans 2020 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | 2 |
Term Loans 2020 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,233 | 1,286 |
Term Loans 2020 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 371 | 427 |
Term Loans 2020 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 28 | 33 |
Term Loans 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 10,062 | |
Term Loans 2019 [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 28 | |
Accruing Loans Past Due 90 Days or More | 14 | |
Nonaccrual | 4 | |
Loans and leases, net of unearned discount | 1,261 | |
Term Loans 2019 [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 13 | |
Term Loans 2019 [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 11 | |
Nonaccrual | 5 | |
Loans and leases, net of unearned discount | 797 | |
Term Loans 2019 [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 6 | |
Nonaccrual | 2 | |
Loans and leases, net of unearned discount | 206 | |
Term Loans 2019 [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 13 | |
Term Loans 2019 [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,215 | |
Term Loans 2019 [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13 | |
Term Loans 2019 [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 781 | |
Term Loans 2019 [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 198 | |
Term Loans 2019 [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13 | |
Term Loans Prior Period [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans and leases, net of unearned discount | 35,581 | 27,464 |
Gross charge-offs | 35 | |
Term Loans Prior Period [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 422 | 457 |
Accruing Loans Past Due 90 Days or More | 188 | 205 |
Nonaccrual | 173 | 179 |
Loans and leases, net of unearned discount | 8,914 | 7,901 |
Gross charge-offs | 1 | |
Term Loans Prior Period [Member] | Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 30 | 31 |
Nonaccrual | 53 | 55 |
Loans and leases, net of unearned discount | 884 | 911 |
Term Loans Prior Period [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 3 | 3 |
Nonaccrual | 5 | 5 |
Loans and leases, net of unearned discount | 113 | 106 |
Term Loans Prior Period [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 20 | 16 |
Nonaccrual | 10 | 9 |
Loans and leases, net of unearned discount | 1,749 | 1,045 |
Gross charge-offs | 7 | |
Term Loans Prior Period [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 7 | 5 |
Nonaccrual | 4 | 2 |
Loans and leases, net of unearned discount | 236 | 94 |
Gross charge-offs | 1 | |
Term Loans Prior Period [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
30-89 Days Past Due | 1 | 1 |
Loans and leases, net of unearned discount | 28 | 19 |
Term Loans Prior Period [Member] | Current [Member] | Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,131 | 7,060 |
Term Loans Prior Period [Member] | Current [Member] | Residential Limited Documentation [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 801 | 825 |
Term Loans Prior Period [Member] | Current [Member] | Home Equity Lines and Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 105 | 98 |
Term Loans Prior Period [Member] | Current [Member] | Recreational Finance [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,719 | 1,020 |
Term Loans Prior Period [Member] | Current [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 225 | 87 |
Term Loans Prior Period [Member] | Current [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 27 | $ 18 |
Loans and Leases and the Allo_8
Loans and Leases and the Allowance for Credit Losses - Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 2,129 | $ 1,925 |
Provision for credit losses | 200 | 120 |
Net charge-offs | ||
Charge-offs | (163) | (95) |
Recoveries | 25 | 25 |
Net charge-offs | (138) | (70) |
Ending balance | 2,191 | 1,975 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 620 | 568 |
Provision for credit losses | 137 | 21 |
Net charge-offs | ||
Charge-offs | (78) | (20) |
Recoveries | 5 | 10 |
Net charge-offs | (73) | (10) |
Ending balance | 684 | 579 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 764 | 611 |
Provision for credit losses | 9 | 86 |
Net charge-offs | ||
Charge-offs | (25) | (29) |
Recoveries | 6 | 1 |
Net charge-offs | (19) | (28) |
Ending balance | 754 | 669 |
Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 116 | 115 |
Provision for credit losses | 2 | (1) |
Net charge-offs | ||
Charge-offs | (1) | (2) |
Recoveries | 1 | 1 |
Net charge-offs | (1) | |
Ending balance | 118 | 113 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 629 | 631 |
Provision for credit losses | 52 | 14 |
Net charge-offs | ||
Charge-offs | (59) | (44) |
Recoveries | 13 | 13 |
Net charge-offs | (46) | (31) |
Ending balance | $ 635 | $ 614 |
Loans and Leases and the Allo_9
Loans and Leases and the Allowance for Credit Losses - Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Jan. 01, 2024 | Jan. 01, 2023 | |
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | $ 1,232 | $ 986 | ||
Amortized Cost without Allowance | 1,070 | 1,571 | ||
Total | 2,302 | 2,557 | ||
Amortized Cost | $ 2,166 | $ 2,439 | ||
Interest Income Recognized | 13 | 17 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 590 | 227 | ||
Amortized Cost without Allowance | 274 | 342 | ||
Total | 864 | 569 | ||
Amortized Cost | 670 | 504 | ||
Interest Income Recognized | 2 | 3 | ||
Commercial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 379 | 364 | ||
Amortized Cost without Allowance | 476 | 966 | ||
Total | 855 | 1,330 | ||
Amortized Cost | 869 | 1,240 | ||
Interest Income Recognized | 6 | 5 | ||
Residential Builder and Developer [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 3 | 3 | ||
Total | 3 | 3 | ||
Amortized Cost | 3 | 1 | ||
Other Commercial Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 33 | 94 | ||
Amortized Cost without Allowance | 108 | 49 | ||
Total | 141 | 143 | ||
Amortized Cost | 171 | 125 | ||
Interest Income Recognized | 2 | |||
Residential [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 82 | 125 | ||
Amortized Cost without Allowance | 120 | 129 | ||
Total | 202 | 254 | ||
Amortized Cost | 215 | 272 | ||
Interest Income Recognized | 3 | 5 | ||
Residential Limited Documentation [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 18 | 40 | ||
Amortized Cost without Allowance | 35 | 29 | ||
Total | 53 | 69 | ||
Amortized Cost | 55 | 78 | ||
Interest Income Recognized | 1 | |||
Home Equity Lines and Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 48 | 39 | ||
Amortized Cost without Allowance | 39 | 42 | ||
Total | 87 | 81 | ||
Amortized Cost | 81 | 85 | ||
Interest Income Recognized | 1 | 2 | ||
Recreational Finance [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 18 | 24 | ||
Amortized Cost without Allowance | 12 | 10 | ||
Total | 30 | 34 | ||
Amortized Cost | 36 | 45 | ||
Automobile [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 7 | 23 | ||
Amortized Cost without Allowance | 6 | 4 | ||
Total | 13 | 27 | ||
Amortized Cost | 14 | 40 | ||
Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost with Allowance | 54 | 47 | ||
Total | $ 54 | $ 47 | ||
Amortized Cost | $ 52 | $ 49 |
Loans and Leases and the All_10
Loans and Leases and the Allowance for Credit Losses - Loan Modification Activities to Borrowers Experiencing Financial Difficulty on Financing Receivables (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 638 | $ 304 |
Percent of total loan class | 0.47% | 0.23% |
Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 634 | $ 302 |
Combination of Modification Types [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | 4 | 2 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 184 | $ 70 |
Percent of total loan class | 0.32% | 0.13% |
Commercial and Industrial [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 184 | $ 70 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 270 | $ 94 |
Percent of total loan class | 1.07% | 0.35% |
Commercial Real Estate [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 267 | $ 94 |
Commercial Real Estate [Member] | Combination of Modification Types [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | 3 | |
Residential Builder and Developer [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 2 | $ 8 |
Percent of total loan class | 0.18% | 0.64% |
Residential Builder and Developer [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 2 | $ 8 |
Other Commercial Construction [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 131 | $ 92 |
Percent of total loan class | 2.11% | 1.39% |
Other Commercial Construction [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 131 | $ 92 |
Residential [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 49 | $ 35 |
Percent of total loan class | 0.22% | 0.15% |
Residential [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 48 | $ 33 |
Residential [Member] | Combination of Modification Types [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | 1 | 2 |
Residential Limited Documentation [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 2 | $ 5 |
Percent of total loan class | 0.17% | 0.51% |
Residential Limited Documentation [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 2 | $ 5 |
Loans and Leases and the All_11
Loans and Leases and the Allowance for Credit Losses - Loan Modification Activities to Borrowers Experiencing Financial Difficulty on Financing Receivables (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 638 | $ 304 |
Guaranteed by Government-Related Entities [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | 44 | 23 |
Unfunded Commitments to Extend Credit [Member] | ||
Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items] | ||
Financing receivable, modifications other than troubled debt restructuring | $ 29 | $ 11 |
Loans and Leases and the All_12
Loans and Leases and the Allowance for Credit Losses - Summary of Payment Status of Loans Modified (Detail) $ in Millions | Mar. 31, 2024 USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | $ 1,693 |
30-89 Days Past Due | 121 |
Past Due 90 Days or More | 64 |
Total | 1,878 |
Commercial and Industrial [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 310 |
30-89 Days Past Due | 7 |
Past Due 90 Days or More | 10 |
Total | 327 |
Commercial [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 715 |
30-89 Days Past Due | 33 |
Past Due 90 Days or More | 24 |
Total | 772 |
Residential Builder and Developer [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 14 |
30-89 Days Past Due | 39 |
Total | 53 |
Other Commercial Construction [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 534 |
30-89 Days Past Due | 5 |
Total | 539 |
Residential [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 112 |
30-89 Days Past Due | 35 |
Past Due 90 Days or More | 30 |
Total | 177 |
Residential Limited Documentation [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 6 |
30-89 Days Past Due | 2 |
Total | 8 |
Home Equity Lines and Loans [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Current | 2 |
Total | $ 2 |
Loans and Leases and the All_13
Loans and Leases and the Allowance for Credit Losses - Summary of Payment Status of Loans Modified (Parenthetical) (Detail) $ in Millions | Mar. 31, 2024 USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
30-89 Days Past Due | $ 121 |
Past Due 90 Days or More | 64 |
Guaranteed by Government-Related Entities [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
30-89 Days Past Due | 30 |
Past Due 90 Days or More | $ 27 |
Borrowings - Schedule of Borrow
Borrowings - Schedule of Borrowings (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Short-term borrowings | ||
Federal funds purchased and repurchased agreements | $ 295 | $ 316 |
FHLB advances | 4,500 | 5,000 |
Total short-term borrowings | 4,795 | 5,316 |
Long-term borrowings | ||
Senior notes | 3,743 | 3,741 |
FHLB Advances | 2,005 | 5 |
Subordinated notes | 866 | 873 |
Asset-backed notes | 934 | 474 |
Other | 10 | 10 |
Total long-term borrowings | 11,450 | 8,201 |
M&T [Member] | ||
Long-term borrowings | ||
Senior notes | 3,276 | 2,482 |
Subordinated notes | 75 | 76 |
Junior subordinated debentures | $ 541 | $ 540 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | ||
Mar. 31, 2024 | Feb. 29, 2024 | Dec. 31, 2023 | |
Debt Instrument [Line Items] | |||
Senior notes | $ 3,743 | $ 3,741 | |
Description of variable rate basis | SOFR | SOFR | |
Advances from FHLB | $ 4,500 | 5,000 | |
Asset-backed notes | 934 | 474 | |
Short-term borrowings | 4,795 | 5,316 | |
Long-term borrowings | 11,450 | 8,201 | |
FHLB Advances | 2,005 | $ 5 | |
Equipment Finance Loan [Member] | |||
Debt Instrument [Line Items] | |||
Asset-backed notes | $ 511 | ||
Weighted average interest rate | 5.29% | ||
6.082% Fixed Rate Senior Notes Due To Mature In March 2032 [Member] | |||
Debt Instrument [Line Items] | |||
Senior notes | $ 850 | ||
Senior notes maturity date | Mar. 31, 2032 | ||
Interest rate of debt instrument | 6.082% | ||
Variable interest rate of debt instrument | 2.26% | ||
FHLB of New York [Member] | |||
Debt Instrument [Line Items] | |||
Senior notes maturity date | Feb. 28, 2025 | ||
Variable interest rate of debt instrument | 25% | ||
Advances from FHLB | $ 2,000 | ||
Available line of credit | $ 14,600 | ||
FRB of New York [Member] | |||
Debt Instrument [Line Items] | |||
Available line of credit | $ 18,400 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 |
Equity [Abstract] | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, par value | $ 1 | $ 1 |
Shareholders' Equity - Issued a
Shareholders' Equity - Issued and Outstanding Preferred Stock (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Class of Stock [Line Items] | ||
Preferred stock, shares issued | 10,000,000 | 10,000,000 |
Carrying Value | $ 2,011 | $ 2,011 |
Shareholders' Equity - Issued_2
Shareholders' Equity - Issued and Outstanding Preferred Stock (Parenthetical) (Detail) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 |
Class of Stock [Line Items] | ||
Preferred stock, liquidation preference per share | $ 25 | $ 25 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Additional Information (Detail1) | Mar. 31, 2024 |
Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01 | |
Disaggregation Of Revenue [Line Items] | |
Period of satisfaction of contract with customer | 1 year |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Disaggregation Of Revenue [Line Items] | ||
Uncollected amounts receivable | $ 63 | $ 68 |
Accrued interest and other liabilities [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Deferred revenue | $ 52 | $ 54 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Summary of Sources of Noninterest Income that are Subject to Revenue Recognition Accounting Guidance (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | $ 29 | $ 24 |
Other revenues from operations: | ||
Total other income | 580 | 587 |
Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 124 | 113 |
Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 160 | 194 |
ASU 2014-09 [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | 29 | 24 |
Other revenues from operations: | ||
Merchant discount and credit card interchange fees | 37 | 37 |
Other | 17 | 15 |
Total other income | 367 | 383 |
ASU 2014-09 [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 124 | 113 |
ASU 2014-09 [Member] | Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 160 | 194 |
ASU 2014-09 [Member] | Commercial Bank [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | 2 | 2 |
Other revenues from operations: | ||
Merchant discount and credit card interchange fees | 17 | 17 |
Other | 8 | 6 |
Total other income | 68 | 59 |
ASU 2014-09 [Member] | Commercial Bank [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 40 | 34 |
ASU 2014-09 [Member] | Commercial Bank [Member] | Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 1 | |
ASU 2014-09 [Member] | Retail Bank [Member] | ||
Other revenues from operations: | ||
Merchant discount and credit card interchange fees | 20 | 20 |
Other | 7 | 8 |
Total other income | 111 | 107 |
ASU 2014-09 [Member] | Retail Bank [Member] | Service Charges on Deposit Accounts [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | 84 | 79 |
ASU 2014-09 [Member] | Institutional Services and Wealth Management [ Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Brokerage services income | 27 | 22 |
Other revenues from operations: | ||
Other | 2 | 1 |
Total other income | 188 | 217 |
ASU 2014-09 [Member] | Institutional Services and Wealth Management [ Member] | Trust Income [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue from contract with customer | $ 159 | $ 194 |
Pension Plans and Other Postr_3
Pension Plans and Other Postretirement Benefits - Net Periodic Defined Benefit Cost for Defined Benefit Plans (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Pension Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 2 | $ 3 |
Interest cost on projected benefit obligation | 29 | 29 |
Expected return on plan assets | (51) | (51) |
Amortization of net actuarial gain | (1) | |
Net periodic benefit | $ (20) | $ (20) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other Noninterest Expense | Other Noninterest Expense |
Other Postretirement Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost on projected benefit obligation | $ 1 | $ 1 |
Amortization of net actuarial gain | $ (1) | $ (1) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other Noninterest Expense | Other Noninterest Expense |
Pension Plans and Other Postr_4
Pension Plans and Other Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Retirement Benefits [Abstract] | ||
Defined contribution pension and retirement savings plans total expense | $ 45 | $ 44 |
Earnings Per Common Share - Com
Earnings Per Common Share - Computations of Basic Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income available to common shareholders: | ||
Net Income (Loss) | $ 531 | $ 702 |
Less: Preferred stock dividends | (25) | (25) |
Net income available to common equity | 506 | 677 |
Less: Income attributable to unvested stock-based compensation awards | (1) | (1) |
Net income available to common shareholders | $ 505 | $ 676 |
Weighted-average shares outstanding: | ||
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 166,738 | 168,010 |
Less: Unvested stock-based compensation awards | (278) | (278) |
Weighted-average shares outstanding | 166,460 | 167,732 |
Basic earnings per common share | $ 3.04 | $ 4.03 |
Earnings Per Common Share - C_2
Earnings Per Common Share - Computations of Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Earnings Per Share [Abstract] | ||
Net income available to common equity | $ 506 | $ 677 |
Less: Income attributable to unvested stock-based compensation awards | (1) | (1) |
Net income available to common shareholders | $ 505 | $ 676 |
Adjusted weighted-average shares outstanding: | ||
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 166,738 | 168,010 |
Less: Unvested stock-based compensation awards | (278) | (278) |
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 624 | 678 |
Adjusted weighted-average shares outstanding | 167,084 | 168,410 |
Diluted earnings per common share | $ 3.02 | $ 4.01 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share | 1,328,190 | 1,367,054 |
Comprehensive Income - Componen
Comprehensive Income - Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | $ (616) | $ (1,066) |
Unrealized holding gains (losses), net, before tax | (13) | 89 |
Foreign currency translation adjustment, before tax | (2) | 2 |
Unrealized losses on cash flow hedges | (243) | 51 |
Total other comprehensive income (loss) before reclassifications, before tax | (258) | 142 |
Losses realized in net income | 1 | |
Net yield adjustment from cash flow hedges currently in effect, before tax | 87 | 59 |
Amortization of actuarial losses, before tax | (1) | (2) |
Total other comprehensive income (loss), before tax | (171) | 199 |
Ending balance, before tax | (787) | (867) |
Beginning balance, tax | 157 | 276 |
Unrealized holding gains (losses), net, tax | 2 | (24) |
Foreign currency translation adjustment, tax | (1) | |
Unrealized losses on cash flow hedges, tax | 60 | (13) |
Total other comprehensive income (loss) before reclassifications, tax | 62 | (38) |
Net yield adjustment from cash flow hedges currently in effect, tax | (21) | (16) |
Total other comprehensive income (loss), tax | 41 | (54) |
Ending balance, tax | 198 | 222 |
Beginning balance, net of tax | (459) | (790) |
Unrealized holding gains (losses), net of tax | (11) | 65 |
Foreign currency translation adjustments, net of tax | (2) | 1 |
Unrealized losses on cash flow hedges, net of tax | (183) | 38 |
Total other comprehensive income (loss) before reclassifications, net of tax | (196) | 104 |
Losses realized in net income, net of tax | 1 | |
Net yield adjustment from cash flow hedges currently in effect, net of tax | 66 | 43 |
Amortization of actuarial losses, net of tax | (1) | (2) |
Total other comprehensive income (loss) | (130) | 145 |
Ending balance, net of tax | (589) | (645) |
Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | (203) | (336) |
Unrealized losses on cash flow hedges | (243) | 51 |
Total other comprehensive income (loss) before reclassifications, before tax | (243) | 51 |
Net yield adjustment from cash flow hedges currently in effect, before tax | 87 | 59 |
Total other comprehensive income (loss), before tax | (156) | 110 |
Ending balance, before tax | (359) | (226) |
Total other comprehensive income (loss) | (117) | |
Defined Benefit Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | (155) | (273) |
Amortization of actuarial losses, before tax | (1) | (2) |
Total other comprehensive income (loss), before tax | (1) | (2) |
Ending balance, before tax | (156) | (275) |
Total other comprehensive income (loss) | (1) | |
Other [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | (7) | (13) |
Foreign currency translation adjustment, before tax | (2) | 2 |
Total other comprehensive income (loss) before reclassifications, before tax | (2) | 2 |
Total other comprehensive income (loss), before tax | (2) | 2 |
Ending balance, before tax | (9) | (11) |
Investment Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, before tax | (251) | (444) |
Unrealized holding gains (losses), net, before tax | (13) | 89 |
Total other comprehensive income (loss) before reclassifications, before tax | (13) | 89 |
Losses realized in net income | 1 | |
Total other comprehensive income (loss), before tax | (12) | 89 |
Ending balance, before tax | (263) | $ (355) |
Total other comprehensive income (loss) | $ (10) |
Comprehensive Income - Accumula
Comprehensive Income - Accumulated Other Comprehensive Income (Loss), Net (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | $ 26,957 | $ 25,318 |
Net loss during period | (130) | 145 |
Ending balance | 27,169 | 25,377 |
Investment Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (187) | |
Net loss during period | (10) | |
Ending balance | (197) | |
Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (151) | |
Net loss during period | (117) | |
Ending balance | (268) | |
Defined Benefit Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (115) | |
Net loss during period | (1) | |
Ending balance | (116) | |
Accumulated Other Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (6) | |
Net loss during period | (2) | |
Ending balance | (8) | |
Accumulated Other Comprehensive Income (Loss), Net [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (459) | (790) |
Net loss during period | (130) | |
Ending balance | $ (589) | $ (645) |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Derivative [Line Items] | |||
Notional amounts of derivative contracts entered into for trading account purposes | $ 27,277 | $ 26,977 | |
Unrealized net loss recognized in other comprehensive income related to cash flow hedges | 359 | ||
Aggregate fair value of derivative financial instruments in asset position | 232 | 179 | |
Collateral relating to net asset positions | 231 | 179 | |
Clearinghouse Credit Facilities [Member] | |||
Derivative [Line Items] | |||
Amount of initial margin posted | 146 | 129 | |
Interest Income [Member] | |||
Derivative [Line Items] | |||
Changes in Cash Flow Hedges Derivative Instruments At Fair Value Net | 87 | $ 59 | |
Interest Rate Swap Agreements [Member] | |||
Derivative [Line Items] | |||
Increase decrease in net interest income due to interest rate swap agreements | $ 100 | $ 69 | |
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] | Interest and Dividend Income, Operating | Interest and Dividend Income, Operating | |
Interest Rate Swap Agreements [Member] | Maturity Period 2024 [Member] | |||
Derivative [Line Items] | |||
Unrealized net loss recognized in other comprehensive income related to cash flow hedges | $ 1 | ||
Interest Rate Swap Agreements [Member] | Maturity Period 2025 [Member] | |||
Derivative [Line Items] | |||
Unrealized net loss recognized in other comprehensive income related to cash flow hedges | 227 | ||
Interest Rate Swap Agreements [Member] | Maturity Period 2026 [Member] | |||
Derivative [Line Items] | |||
Unrealized net loss recognized in other comprehensive income related to cash flow hedges | 129 | ||
Interest Rate Swap Agreements [Member] | Maturity Period 2027 [Member] | |||
Derivative [Line Items] | |||
Unrealized net loss recognized in other comprehensive income related to cash flow hedges | 2 | ||
Interest Rate Contracts [Member] | |||
Derivative [Line Items] | |||
Notional amounts of derivative contracts entered into for trading account purposes | 43,400 | 44,400 | |
Foreign Exchange and Other Option and Futures Contracts [Member] | |||
Derivative [Line Items] | |||
Notional amounts of derivative contracts entered into for trading account purposes | $ 1,700 | $ 1,500 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Derivative [Line Items] | ||
Notional Amount | $ 27,277 | $ 26,977 |
Average Maturity (in years) | 2 years 3 months 18 days | 2 years 2 months 12 days |
Estimated Fair Value Gain (Loss) | $ 2 | $ 10 |
Interest Payments On Variable Rate Commercial Real Estate Loans [Member] | Cash Flow Hedges [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 23,427 | $ 23,977 |
Average Maturity (in years) | 1 year 8 months 12 days | 1 year 8 months 12 days |
Weighted-Average Rate, Fixed | 3.38% | 3.45% |
Weighted-Average Rate, Variable | 5.33% | 5.36% |
Estimated Fair Value Gain (Loss) | $ 2 | $ 11 |
Fixed Rate Long-Term Borrowings [Member] | Fair Value Hedges [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 3,850 | $ 3,000 |
Average Maturity (in years) | 5 years 10 months 24 days | 5 years 9 months 18 days |
Weighted-Average Rate, Fixed | 3.48% | 3.45% |
Weighted-Average Rate, Variable | 5.51% | 5.62% |
Estimated Fair Value Gain (Loss) | $ 0 | $ (1) |
Derivative Financial Instrume_5
Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Derivative [Line Items] | ||
Notional Amount | $ 27,277 | $ 26,977 |
Fair Value Hedges [Member] | ||
Derivative [Line Items] | ||
Impact of estimated fair value gain (losses) on hedging instruments | 104 | 43 |
Fair Value Hedges [Member] | Forward-Starting Interest Rate Swap Agreements [Member] | ||
Derivative [Line Items] | ||
Notional Amount | 1,800 | 1,000 |
Cash Flow Hedges [Member] | ||
Derivative [Line Items] | ||
Impact of estimated fair value gain (losses) on hedging instruments | 361 | 214 |
Cash Flow Hedges [Member] | Forward-Starting Interest Rate Swap Agreements [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 6,000 | $ 9,000 |
Derivative Financial Instrume_6
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 318 | $ 324 |
Liability Derivatives, Fair Value | 1,072 | 943 |
Derivatives Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 14 | 18 |
Liability Derivatives, Fair Value | 2 | 10 |
Fair Value Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 258 | 256 |
Liability Derivatives, Fair Value | 1,032 | 898 |
Fair Value Hedges [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 46 | 50 |
Liability Derivatives, Fair Value | 38 | 35 |
Interest Rate Swap Agreements [Member] | Fair Value Hedges [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 3 | 12 |
Liability Derivatives, Fair Value | 1 | 2 |
Commitments to Sell Real Estate Loans [Member] | Fair Value Hedges [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 11 | 6 |
Liability Derivatives, Fair Value | 1 | 8 |
Commitments to Sell Real Estate Loans [Member] | Fair Value Hedges [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 40 | 35 |
Liability Derivatives, Fair Value | 2 | 3 |
Commitments to Originate Real Estate Loans for Sale [Member] | Fair Value Hedges [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 6 | 15 |
Liability Derivatives, Fair Value | 36 | 32 |
Interest Rate Contracts [Member] | Fair Value Hedges [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 243 | 237 |
Liability Derivatives, Fair Value | 1,019 | 879 |
Foreign Exchange and Other Option and Futures Contracts [Member] | Fair Value Hedges [Member] | Derivatives Not Designated and Qualifying as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 15 | 19 |
Liability Derivatives, Fair Value | $ 13 | $ 19 |
Derivative Financial Instrume_7
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Offsetting [Abstract] | ||
Reduction in estimated fair value of interest rate contracts in asset position | $ 893 | $ 783 |
Reduction in estimated fair value of interest rate contracts in liability position | $ 16 | $ 32 |
Derivative Financial Instrume_8
Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Statement of Income (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as hedging instruments, Derivatives | $ 7 | $ 12 |
Interest Rate Swap Agreements [Member] | Fixed Rate Long-Term Borrowings [Member] | Derivatives Designated and Qualifying as Hedging Instruments [Member] | Fair Value Hedges [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives in fair value hedging relationships, Derivative | $ (60) | $ 12 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Other Noninterest Expense | Other Noninterest Expense |
Derivatives in fair value hedging relationships, Hedged item | $ 60 | $ (12) |
Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as hedging instruments, Derivatives | 3 | 8 |
Foreign Exchange and Other Option and Futures Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as hedging instruments, Derivatives | $ 4 | $ 4 |
Derivative Financial Instrume_9
Derivative Financial Instruments - Information about Hedged Items Included in Consolidated Balance Sheet (Detail) - Long-term Borrowings [Member] - Derivatives Designated and Qualifying as Hedging Instruments [Member] - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Carrying Amount [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Item | $ 3,742 | $ 2,954 |
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Item | $ (104) | $ (44) |
Variable Interest Entities an_3
Variable Interest Entities and Asset Securitizations - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Loss on securitization of assets | $ 0 | ||
Other assets for its "investment" in the common securities recognized by the company of various trusts | 22,000,000 | $ 22,000,000 | |
Total assets of partnerships in which the company invested | 215,137,000,000 | 208,264,000,000 | |
Investments which met the eligibility criteria | 0 | ||
Maximum exposure to loss of investments in real estate partnerships | 2,200,000,000 | ||
Loans | 132,782,000,000 | 131,939,000,000 | |
Asset-backed notes | 934,000,000 | 474,000,000 | |
Senior notes | 3,743,000,000 | 3,741,000,000 | |
Certificates issued | 15,000,000 | ||
Tax benefit | 133,000,000 | $ 224,000,000 | |
Renewable Energy Investments [Member] | |||
Reduction to income tax expense | 11,000,000 | 8,000,000 | |
Asset-Backed Notes [Member] | |||
Loans | $ 526,000,000 | ||
Loans and leases average rate | 5.29% | ||
Senior notes | $ 511,000,000 | ||
Asset-backed notes weighed average estimated life | 2 years | ||
Variable Interest Entity Primary Beneficiary [Member] | |||
Total assets of partnerships in which the company invested | $ 9,800,000,000 | $ 9,800,000,000 | |
Variable Interest Entity Primary Beneficiary [Member] | Investments In Partnerships [Member] | |||
Reduction to income tax expense | 7,000,000 | 6,000,000 | |
Investments amortized to income tax expense | $ 43,000,000 | $ 41,000,000 |
Variable Interest Entities an_4
Variable Interest Entities and Asset Securitizations - Schedule of Carrying Amount of Investments In Tax Equity Partnerships and Related Future Funding Commitments (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 | |
Accrued Interest and Other Assets [Member] | Affordable Housing Projects [member] | |||
Investments in affordable housing projects: | |||
Carrying amount | [1] | $ 1,323 | $ 1,340 |
Accrued Interest and Other Assets [Member] | Renewable Energy [Member] | |||
Investments in affordable housing projects: | |||
Carrying amount | [1] | 79 | 80 |
Accrued Interest and Other Assets [Member] | Other [Member] | |||
Investments in affordable housing projects: | |||
Carrying amount | [1] | 40 | 41 |
Accrued Interest and Other Liabilities [Member] | Affordable Housing Projects [member] | |||
Investments in affordable housing projects: | |||
Amount of future funding commitments included in carrying amount | [2] | 379 | 410 |
Contingent commitments | 55 | 55 | |
Accrued Interest and Other Liabilities [Member] | Renewable Energy [Member] | |||
Investments in affordable housing projects: | |||
Amount of future funding commitments included in carrying amount | [2] | $ 49 | $ 31 |
[1] Included in "accrued interest and other assets" in the Consolidated Balance Sheet Included in "accrued interest and other liabilities" in the Consolidated Balance Sheet. |
Variable Interest Entities an_5
Variable Interest Entities and Asset Securitizations - Schedule of Investments in Partnerships Qualifying for Proportional Amortization Method (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Schedule of Equity Method Investments [Line Items] | ||
Tax benefit | $ 133 | $ 224 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | $ 12,134 | $ 10,440 |
U.S. Treasury and Federal Agencies [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 7,719 | 7,705 |
Commercial Mortgage-Backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 1,343 | 416 |
Residential Mortgage-Backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,910 | 2,154 |
Other Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 162 | 165 |
Fair Value Measurements, Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account | 99 | 106 |
Debt Securities, Available-for-Sale | 12,134 | 10,440 |
Equity Securities, FV-NI, Current | 356 | 268 |
Real estate loans held for sale | 728 | 379 |
Other assets | 318 | 324 |
Total assets | 13,635 | 11,517 |
Other liabilities | 1,072 | 943 |
Total liabilities | 1,072 | 943 |
Fair Value Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account | 99 | 101 |
Equity Securities, FV-NI, Current | 343 | 258 |
Total assets | 442 | 359 |
Fair Value Measurements, Recurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading account | 5 | |
Debt Securities, Available-for-Sale | 12,134 | 10,440 |
Equity Securities, FV-NI, Current | 13 | 10 |
Real estate loans held for sale | 728 | 379 |
Other assets | 312 | 309 |
Total assets | 13,187 | 11,143 |
Other liabilities | 1,036 | 911 |
Total liabilities | 1,036 | 911 |
Fair Value Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other assets | 6 | 15 |
Total assets | 6 | 15 |
Other liabilities | 36 | 32 |
Total liabilities | 36 | 32 |
Fair Value Measurements, Recurring [Member] | U.S. Treasury and Federal Agencies [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 7,719 | 7,705 |
Fair Value Measurements, Recurring [Member] | U.S. Treasury and Federal Agencies [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 7,719 | 7,705 |
Fair Value Measurements, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 1,343 | 416 |
Fair Value Measurements, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 1,343 | 416 |
Fair Value Measurements, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,910 | 2,154 |
Fair Value Measurements, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,910 | 2,154 |
Fair Value Measurements, Recurring [Member] | Other Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 162 | 165 |
Fair Value Measurements, Recurring [Member] | Other Debt Securities [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | $ 162 | $ 165 |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Parenthetical) (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | ||
Weighted average commitment expirations, percentage | 8% | 5% |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Weighted-average discount rates for fair value estimations | 38% | ||
Historical recovery rate of collateral values of consumer installment loans | 46% | ||
Minimum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Discount rates for fair value estimations | 10% | ||
Maximum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Discount rates for fair value estimations | 90% | ||
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Change in fair value of nonrecurring fair value measured loans for charge-offs and impairment reserves | $ 175,000,000 | $ 69,000,000 | |
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Capitalized servicing rights, valuation allowance | 0 | 0 | $ 0 |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans measured at fair value on nonrecurring basis | 1,000,000,000 | 670,000,000 | 923,000,000 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans measured at fair value on nonrecurring basis | 312,000,000 | 374,000,000 | 234,000,000 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Loans measured at fair value on nonrecurring basis | $ 707,000,000 | $ 296,000,000 | $ 689,000,000 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Value for Certain Financial Instruments (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Financial assets: | ||
Interest-bearing deposits at banks | $ 32,144 | $ 28,069 |
Investment securities held to maturity | 15,078 | 15,330 |
Equity and other securities | 928 | 859 |
Loans and leases, net | 132,782 | 131,939 |
Financial liabilities: | ||
Noninterest-bearing deposits | 50,578 | 49,294 |
Savings and interest-checking deposits | 96,339 | 93,221 |
Time deposits | 20,279 | 20,759 |
Short-term borrowings | 295 | 316 |
Long-term borrowings | 11,450 | 8,201 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 1,396 | 1,668 |
Significant Observable Inputs (Level 2) [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 299 | 63 |
Interest-bearing deposits at banks | 32,144 | 28,069 |
Investment securities held to maturity | 13,821 | 14,262 |
Loans and leases, net | 7,354 | 7,240 |
Financial liabilities: | ||
Time deposits | 20,236 | 20,715 |
Short-term borrowings | 4,795 | 5,316 |
Long-term borrowings | 11,370 | 8,107 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets: | ||
Investment securities held to maturity | 44 | 46 |
Loans and leases, net | 122,417 | 121,898 |
Carrying Amount [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 1,695 | 1,731 |
Interest-bearing deposits at banks | 32,144 | 28,069 |
Investment securities held to maturity | 15,078 | 15,330 |
Loans and leases, net | 132,782 | 131,939 |
Financial liabilities: | ||
Time deposits | 20,279 | 20,759 |
Short-term borrowings | 4,795 | 5,316 |
Long-term borrowings | 11,450 | 8,201 |
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 1,695 | 1,731 |
Interest-bearing deposits at banks | 32,144 | 28,069 |
Investment securities held to maturity | 13,865 | 14,308 |
Loans and leases, net | 129,771 | 129,138 |
Financial liabilities: | ||
Time deposits | 20,236 | 20,715 |
Short-term borrowings | 4,795 | 5,316 |
Long-term borrowings | $ 11,370 | $ 8,107 |
Commitments and Contingencies -
Commitments and Contingencies - Commitments and Contingent Liabilities Outstanding (Detail) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Commitments to extend credit | ||
Commercial and industrial | $ 28,439 | $ 28,566 |
Commercial real estate loans to be sold | 451 | 916 |
Other commercial real estate | 4,413 | 5,019 |
Residential real estate loans to be sold | 211 | 163 |
Other residential real estate | 393 | 331 |
Home equity lines of credit | 8,080 | 8,109 |
Credit cards | 5,651 | 5,578 |
Other | 389 | 413 |
Standby letters of credit | 2,230 | 2,289 |
Commercial letters of credit | 56 | 62 |
Financial guarantees and indemnification contracts | 4,129 | 4,036 |
Commitments to sell real estate loans | $ 1,329 | $ 1,400 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Feb. 29, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | |
Loss Contingencies [Line Items] | |||
Commitments to extend credit to commercial customers | $ 12,400 | $ 12,300 | |
Maximum credit risk for recourse associated with loans sold under Federal National Mortgage Association Delegated Underwriting and Servicing program | 4,000 | 3,900 | |
Estimate assessed losses | $ 20,400 | 1,700 | |
Estimate assessed losses increase | 4,100 | ||
Estimated uninsured deposits | $ 16,300 | ||
Loss contingency expense amount | 29 | 197 | |
Accrued liability | 226 | $ 197 | |
Minimum [Member] | |||
Loss Contingencies [Line Items] | |||
Range of reasonably possible losses | 0 | ||
Maximum [Member] | |||
Loss Contingencies [Line Items] | |||
Range of reasonably possible losses | $ 25 |
Segment Information - Informati
Segment Information - Information about Company's Segments (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | $ 531 | $ 702 |
Total Average Assets | 211,478 | 202,599 |
Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 2,260 | 2,405 |
Commercial Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 201 | 333 |
Total Average Assets | 81,083 | 79,034 |
Commercial Bank [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 699 | 811 |
Commercial Bank [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 2 | 2 |
Retail Bank [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 446 | 452 |
Total Average Assets | 52,232 | 51,293 |
Retail Bank [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 1,268 | 1,234 |
Institutional Services and Wealth Management [ Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | 128 | 110 |
Total Average Assets | 3,636 | 3,655 |
Institutional Services and Wealth Management [ Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 377 | 390 |
Institutional Services and Wealth Management [ Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 3 | 3 |
All Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Net Income (Loss) | (244) | (193) |
Total Average Assets | 74,527 | 68,617 |
All Other [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | (84) | (30) |
All Other [Member] | Intersegment Activity Eliminated in Consolidated Totals [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | $ (5) | $ (5) |
Segment Information - Informa_2
Segment Information - Information about Company's Segments (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Segment Reporting Information [Line Items] | ||
Taxable-equivalent adjustment | $ 12 | $ 14 |
Relationship with BLG and Bay_2
Relationship with BLG and Bayview Financial - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Schedule of Equity Method Investments [Line Items] | |||
Loan facility carrying amount | $ 11,450,000,000 | $ 8,201,000,000 | |
Bayview Lending Group [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Carrying value of minority interest investment in Bayview Lending Group LLC | $ 0 | ||
Minority interest in Bayview Lending Group LLC | 20% | ||
Bayview Lending Group [Member] | Other Revenues From Operations [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Income (loss) from equity method investments | $ 25,000,000 | $ 20,000,000 | |
Bayview Lending Group and Bayview Financial [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Outstanding principal balances of mortgage servicing rights | 1,100,000,000 | 1,200,000,000 | |
Revenue from contract with customer | 1,000,000 | 2,000,000 | |
Bayview Financial [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Outstanding principal balances of residential mortgage loans from Bayview Financial | 112,000,000,000 | 115,300,000,000 | |
Revenues from sub-servicing | 32,000,000 | $ 32,000,000 | |
Investment securities in held-to-maturity portfolio securitized by Bayview Financial | 41,000,000 | $ 42,000,000 | |
Bayview Financial [Member] | Syndicated Loan Facility [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Loan facility carrying amount | 3,700,000,000 | ||
Bayview Financial [Member] | Syndicated Loan Facility [Member] | M&T Bank [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Loan facility carrying amount | $ 674,000,000 |