Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2025

The following tables present the Parent Company-only financial information.



Condensed Statement of Income

(Dollars in millions)	2025		2024		2023
Income
Dividends from subsidiaries:
Bank holding companies and related subsidiaries	$	33,600	$	21,300	$	22,384

Interest from subsidiaries	19,676		21,589		21,314
Other income (loss)	(1,336)		(1,223)		(1,012)
Total income	51,940		41,666		42,686
Expense
Interest on borrowed funds from subsidiaries	1,071		1,108		896
Other interest expense	11,750		14,060		14,119
Noninterest expense	1,576		1,580		1,699
Total expense	14,397		16,748		16,714
Income before income taxes and equity in undistributed earnings of subsidiaries	37,543		24,918		25,972
Income tax expense	808		773		838
Income before equity in undistributed earnings of subsidiaries	36,735		24,145		25,134
Equity in undistributed earnings (losses) of subsidiaries:
Bank holding companies and related subsidiaries	(6,338)		2,750		993
Nonbank companies and related subsidiaries	112		78		178
Total equity in undistributed earnings (losses) of subsidiaries	(6,226)		2,828		1,171
Net income	$	30,509	$	26,973	$	26,305



Condensed Balance Sheet

	December 31
(Dollars in millions)	2025		2024
Assets
Cash held at bank subsidiaries	$	7,686	$	4,613
Securities	703		660
Receivables from subsidiaries:
Bank holding companies and related subsidiaries	254,525		231,931
Banks and related subsidiaries	59		146
Nonbank companies and related subsidiaries	441		985
Investments in subsidiaries:
Bank holding companies and related subsidiaries	310,216		309,361
Nonbank companies and related subsidiaries	3,907		3,783
Other assets	6,246		6,658
Total assets	$	583,783	$	558,137
Liabilities and shareholders’ equity

Accrued expenses and other liabilities	$	16,498	$	16,360
Payables to subsidiaries:

Banks and related subsidiaries	214		114
Bank holding companies and related subsidiaries	388		14
Nonbank companies and related subsidiaries	29,324		21,011
Long-term debt	234,116		226,675
Total liabilities	280,540		264,174
Shareholders’ equity	303,243		293,963
Total liabilities and shareholders’ equity	$	583,783	$	558,137



Condensed Statement of Cash Flows

(Dollars in millions)	2025		2024		2023
Operating activities
Net income	$	30,509	$	26,973	$	26,305
Reconciliation of net income (loss) to net cash provided by operating activities:
Equity in undistributed (earnings) losses of subsidiaries	6,226		(2,828)		(1,171)
Other operating activities, net	10,202		1,986		3,395
Net cash provided by operating activities	46,937		26,131		28,529
Investing activities
Net purchases of securities	(17)		(17)		(15)
Net payments from (to) subsidiaries	(22,125)		16,858		(21,267)
Other investing activities, net	(24)		—		(43)
Net cash provided by (used in) investing activities	(22,166)		16,841		(21,325)
Financing activities
Net increase in short-term borrowings	1		—		—
Net increase in other advances	8,748		3,542		2,825
Proceeds from issuance of long-term debt	36,510		17,817		23,950
Retirement of long-term debt	(38,785)		(36,416)		(25,366)
Proceeds from issuance of preferred stock and warrants	5,493		—		—
Redemption of preferred stock	(2,669)		(5,254)		—
Common stock repurchased	(21,433)		(13,104)		(4,576)
Cash dividends paid	(9,563)		(9,503)		(9,087)

Net cash used in financing activities	(21,698)		(42,918)		(12,254)
Net increase (decrease) in cash held at bank subsidiaries	3,073		54		(5,050)
Cash held at bank subsidiaries at January 1	4,613		4,559		9,609
Cash held at bank subsidiaries at December 31	$	7,686	$	4,613	$	4,559