v3.26.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Carrying and Fair Value of Financial Instruments
The carrying values and fair values by fair value hierarchy of certain financial instruments where only a portion of the ending balance was carried at fair value at March 31, 2026 and December 31, 2025 are presented in the table below.
Fair Value of Financial Instruments
Fair Value
Carrying ValueLevel 2Level 3Total
(Dollars in millions)March 31, 2026
Financial assets
Loans
$1,168,824 $48,769 $1,105,422 $1,154,191 
Loans held-for-sale10,944 10,347 597 10,944 
Financial liabilities
Deposits (1)
2,037,663 2,038,779 — 2,038,779 
Long-term debt325,964 328,749 1,000 329,749 
Commercial unfunded lending commitments (2)
1,229 68 6,676 6,744 
December 31, 2025
Financial assets
Loans
$1,149,093 $51,136 $1,085,303 $1,136,439 
Loans held-for-sale5,165 4,720 445 5,165 
Financial liabilities
Deposits (1)
2,018,729 2,020,072 — 2,020,072 
Long-term debt317,816 323,681 725 324,406 
Commercial unfunded lending commitments (2)
1,244 67 6,673 6,740 
(1)    Includes demand deposits of $1.1 trillion with no stated maturities at both March 31, 2026 and December 31, 2025.
(2)    The carrying value of commercial unfunded lending commitments is included in accrued expenses and other liabilities on the Consolidated Balance Sheet. The Corporation does not estimate the fair value of consumer unfunded lending commitments because, in many instances, the Corporation can reduce or cancel these commitments by providing notice to the borrower. For more information on commitments, see Note 10 – Commitments and Contingencies.