ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/, 10-K filed on 2/25/2025
Annual Report
v3.25.0.1
Cover - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 03, 2025
Jun. 30, 2024
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-12307    
Entity Registrant Name ZIONS BANCORPORATION, NATIONAL ASSOCIATION    
Entity Incorporation, State or Country Code X1    
Entity Tax Identification Number 87-0189025    
Entity Address, Address Line One One South Main    
Entity Address, City or Town Salt Lake City,    
Entity Address, State or Province UT    
Entity Address, Postal Zip Code 84133-1109    
City Area Code 801    
Local Phone Number 844-8208    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 6,277,918,765
Entity Common Stock, Shares Outstanding   147,891,781  
Documents Incorporated by Reference
Part III: Items 10-14 — Proxy Statement for the 2025 Annual Meeting of Shareholders to be held May 2, 2025.
    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000109380    
Document Financial Statement Error Correction [Flag] false    
Common Stock, par value $0.001      
Document Information [Line Items]      
Title of 12(b) Security Common Stock, par value $0.001    
Trading Symbol ZION    
Security Exchange Name NASDAQ    
Series A Floating-Rate Non-Cumulative Perpetual Preferred Stock      
Document Information [Line Items]      
Title of 12(b) Security Series A Floating-Rate Non-Cumulative Perpetual Preferred Stock    
Trading Symbol ZIONP    
Security Exchange Name NASDAQ    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location Salt Lake City, Utah
Auditor Firm ID 42
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 651 $ 716
Money market investments:    
Interest-bearing deposits 2,850 1,488
Federal funds sold and securities purchased under agreements to resell 1,453 937
Trading securities, at fair value 35 48
Investment securities:    
Available-for-sale, at fair value 9,095 10,300
Held-to-maturity, at amortized cost (fair value $9,382 and $10,466) 9,669 10,382
Total investment securities 18,764 20,682
Loans held for sale (includes $25 and $43 of loans carried at fair value) 74 53
Loans held for investment, net of allowance    
Loans and leases, net of unearned income and fees 59,410 57,779
Less allowance for loan and lease losses 696 684
Loans held for investment, net of allowance 58,714 57,095
Other noninterest-bearing investments 1,020 950
Premises, equipment, and software, net 1,366 1,400
Goodwill and intangibles 1,052 1,059
Other real estate owned 1 6
Other assets 2,795 2,769
Total assets 88,775 87,203
Deposits [Abstract]    
Noninterest-bearing demand 24,704 26,244
Interest-bearing:    
Savings and money market 40,037 38,721
Time 11,482 9,996
Total deposits 76,223 74,961
Federal funds and other short-term borrowings 3,832 4,379
Long-term debt 950 542
Reserve for unfunded lending commitments 45 45
Other liabilities 1,601 1,585
Total liabilities 82,651 81,512
Shareholders’ equity:    
Preferred stock, without par value; authorized 4,400 shares 66 440
Common stock ($0.001 par value; authorized 350,000 shares; issued and outstanding 147,871 and 148,153 shares) and additional paid-in capital 1,737 1,731
Retained earnings 6,701 6,212
Accumulated other comprehensive income (loss) (2,380) (2,692)
Total shareholders’ equity 6,124 5,691
Total liabilities and shareholders’ equity $ 88,775 $ 87,203
v3.25.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investment securities:    
Held-to-maturity investment securities $ 9,382 $ 10,466
Loans held for sale $ 25 $ 43
Shareholders’ equity:    
Preferred stock, authorized shares (in shares) 4,400 4,400
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, authorized shares (in shares) 350,000 350,000
Common stock, issued shares (in shares) 147,871 148,153
Common stock, outstanding shares (in shares) 147,871 148,153
v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Interest and fees on loans $ 3,514 $ 3,196 $ 2,112
Interest on money market investments 230 188 81
Interest on securities 549 563 512
Total interest income 4,293 3,947 2,705
Interest expense:      
Interest on deposits 1,540 1,063 70
Interest on short- and long-term borrowings 323 446 115
Total interest expense 1,863 1,509 185
Net interest income 2,430 2,438 2,520
Provision for loan and lease losses 72 148 101
Provision for unfunded lending commitments 0 (16) 21
Total provision for credit losses 72 132 122
Net interest income after provision for credit losses 2,358 2,306 2,398
Noninterest income:      
Commercial account fees 182 174 159
Card fees 96 101 104
Retail and business banking fees 67 66 73
Loan-related fees and income 70 79 80
Capital markets fees 110 81 83
Wealth management fees 58 58 55
Other customer-related fees 56 61 60
Customer-related noninterest income 639 620 614
Fair value and nonhedge derivative income (loss) 0 (4) 16
Dividends and other income 42 57 17
Securities gains (losses), net 19 4 (15)
Total noninterest income 700 677 632
Noninterest expense:      
Salaries and employee benefits 1,287 1,275 1,235
Technology, telecom, and information processing 260 240 209
Occupancy and equipment, net 161 160 152
Professional and legal services 64 62 57
Marketing and business development 45 46 39
Deposit insurance and regulatory expense 91 169 50
Credit-related expense 25 26 30
Other real estate expense, net (1) 0 1
Other 114 119 105
Total noninterest expense 2,046 2,097 1,878
Income before income taxes 1,012 886 1,152
Income taxes 228 206 245
Net income 784 680 907
Preferred stock dividends (41) (32) (29)
Preferred stock redemption (6) 0 0
Net earnings applicable to common shareholders $ 737 $ 648 $ 878
Weighted average common shares outstanding during the year:      
Basic shares (in shares) 147,210 147,748 150,064
Diluted shares (in shares) 147,215 147,756 150,271
Net earnings per common share:      
Basic (in dollars per share) $ 4.95 $ 4.35 $ 5.80
Diluted (in dollars per share) $ 4.95 $ 4.35 $ 5.79
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 784 $ 680 $ 907
Other comprehensive income (loss), net of tax:      
Net unrealized holding gains (losses) on investment securities 31 66 (2,762)
Unrealized loss amortization associated with the securities transferred from AFS to HTM 194 208 40
Net unrealized gains (losses) on other noninterest-bearing investments 1 1 (2)
Net unrealized holding gains (losses) on derivative instruments (3) 21 (330)
Reclassification adjustment for decrease in interest income recognized in earnings on derivative instruments 89 124 21
Pension and post-retirement 0 0 1
Other comprehensive income (loss), net of tax 312 420 (3,032)
Comprehensive income (loss) $ 1,096 $ 1,100 $ (2,125)
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Preferred stock
Common stock shares (in thousands)
Common stock and accumulated paid-in capital
Retained earnings
Retained earnings
Cumulative Effect, Period of Adoption, Adjustment
Accumulated other comprehensive income (loss)
Beginning balance at Dec. 31, 2021 $ 7,463   $ 440   $ 1,928 $ 5,175   $ (80)
Beginning balance (in shares) at Dec. 31, 2021       151,625,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income $ 907         907    
Cumulative effect adjustment, adoption of ASU 2022-02, Financial Instruments - Credit Losses: Troubled Debt Restructurings Accounting Standards Update 2022-02 [Member]              
Other comprehensive (loss) income, net of tax $ (3,032)             (3,032)
Bank common stock repurchased (in shares)       (3,581,000)        
Bank common stock repurchased (202)       (202)      
Net activity under employee plans and related tax benefits (in shares)       620,000        
Net activity under employee plans and related tax benefits 28       28      
Dividends on preferred stock (29)         (29)    
Dividends on common stock (240)         (240)    
Change in deferred compensation (2)         (2)    
Ending balance at Dec. 31, 2022 4,893 $ 2 440   1,754 5,811 $ 2 (3,112)
Ending balance (in shares) at Dec. 31, 2022       148,664,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 680         680    
Other comprehensive (loss) income, net of tax $ 420             420
Bank common stock repurchased (in shares) (900,000)     (972,000)        
Bank common stock repurchased $ (51)       (51)      
Net activity under employee plans and related tax benefits (in shares)       461,000        
Net activity under employee plans and related tax benefits 28       28      
Dividends on preferred stock (32)         (32)    
Dividends on common stock (245)         (245)    
Change in deferred compensation (4)         (4)    
Ending balance at Dec. 31, 2023 $ 5,691   440   1,731 6,212   (2,692)
Ending balance (in shares) at Dec. 31, 2023 148,153,000     148,153,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income $ 784         784    
Other comprehensive (loss) income, net of tax 312             312
Bank common stock repurchased (in shares)       (900,000)        
Bank common stock repurchased (36)       (36)      
Preferred stock redemption (374)   (374)   6 (6)    
Net activity under employee plans and related tax benefits (in shares)       618,000        
Net activity under employee plans and related tax benefits 36       36      
Dividends on preferred stock (41)         (41)    
Dividends on common stock (248)         (248)    
Ending balance at Dec. 31, 2024 $ 6,124   $ 66   $ 1,737 $ 6,701   $ (2,380)
Ending balance (in shares) at Dec. 31, 2024 147,871,000     147,871,000        
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Dividends on common stock (in dollars per share) $ 1.66 $ 1.64 $ 1.58
Cumulative effect adjustment, adoption of ASU 2022-02, Financial Instruments - Credit Losses: Troubled Debt Restructurings     Accounting Standards Update 2022-02 [Member]
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 784 $ 680 $ 907
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 72 132 122
Depreciation and amortization 124 140 110
Share-based compensation 33 33 30
Deferred income tax benefit (7) (9) (43)
Net decrease (increase) in trading securities 13 22 (93)
Net decrease (increase) in loans held for sale 67 (40) 48
Change in other liabilities 3 (299) 892
Change in other assets 94 169 (457)
Other, net (35) 57 (46)
Net cash provided by operating activities 1,148 885 1,470
CASH FLOWS FROM INVESTING ACTIVITIES      
Net decrease (increase) in money market investments (1,878) 1,736 8,650
Proceeds from maturities and paydowns of investment securities held-to-maturity 1,024 1,052 445
Purchases of investment securities held-to-maturity (62) (41) (399)
Proceeds from sales, maturities, and paydowns of investment securities available-for-sale 2,028 2,337 3,309
Purchases of investment securities available-for-sale (907) (666) (5,829)
Net change in loans and leases (1,714) (2,103) (4,628)
Purchases and sales of other noninterest-bearing investments (46) 183 (298)
Purchases of premises and equipment (97) (113) (190)
Acquisition of Nevada branches, net of cash acquired 0 0 318
Other, net 12 (15) 27
Net cash provided by (used in) investing activities (1,640) 2,370 1,405
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in deposits 1,262 3,309 (11,567)
Net change in short-term funds borrowed (547) (6,038) 9,514
Cash paid for preferred stock redemption (374) 0 0
Proceeds from the issuance of long-term debt 496 0 0
Redemption of long-term debt (88) (128) (290)
Proceeds from the issuance of common stock 10 3 9
Dividends paid on common and preferred stock (289) (282) (269)
Bank common stock repurchased (36) (51) (202)
Other, net (7) (9) (8)
Net cash provided by (used in) financing activities 427 (3,196) (2,813)
Net increase (decrease) in cash and due from banks (65) 59 62
Cash and due from banks at beginning of year 716 657 595
Cash and due from banks at end of year 651 716 657
Cash paid for interest 1,905 1,368 160
Net cash paid for income taxes 192 255 21
Noncash activities:      
Loans held for investment reclassified to loans held for sale, net 223 68 114
Trading securities reclassified to money market investments 0 395 0
Investment securities available-for-sale transferred to held-to-maturity, at amortized cost (fair value $10,691) 0 0 13,097
Deposits acquired in purchase of Nevada branches 0 0 430
Loans acquired in purchase of Nevada branches, net $ 0 $ 0 $ 95
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Statement of Cash Flows [Abstract]  
Transfer from available for sale to held-to-maturity, fair value $ 10,691
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business
Zions Bancorporation, National Association (“Zions Bancorporation, N.A.,” “the Bank,” “we,” “our,” “us”) is a bank headquartered in Salt Lake City, Utah. We provide a wide range of banking products and related services in 11 Western and Southwestern states through seven separately managed affiliates: Zions Bank in Utah, Idaho, and Wyoming; California Bank & Trust (“CB&T”); Amegy Bank (“Amegy”) in Texas; National Bank of Arizona (“NBAZ”); Nevada State Bank (“NSB”); Vectra Bank Colorado (“Vectra”) in Colorado and New Mexico; and The Commerce Bank of Washington (“TCBW”) which operates under that name in Washington and under The Commerce Bank of Oregon in Oregon.
Basis of Financial Statement Presentation and Principles of Consolidation
The consolidated financial statements include our accounts and those of our majority-owned, consolidated subsidiaries. This also includes our wholly-owned subsidiaries, such as ZMFU II, Inc., which is utilized for our municipal lending business, and Zions Direct, Inc., a registered broker-dealer under the Exchange Act, among other subsidiaries.
Investments in which we have the ability to exercise significant influence over the operating and financial policies of the investee are accounted for using the equity method. All intercompany accounts and transactions have been eliminated in consolidation. Assets held in an agency or fiduciary capacity are excluded from the consolidated financial statements.
The consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and prevailing practices within the financial services industry. References to GAAP, including standards issued by the Financial Accounting Standards Board (“FASB”), are made according to sections of the Accounting Standards Codification (“ASC”). In preparing the consolidated financial statements, we make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from these estimates.
Subsequent Events
We evaluated events that occurred between December 31, 2024, and the date the accompanying financial statements were issued. We determined that there were no material events requiring adjustments to our consolidated financial statements or significant disclosure in the accompanying notes.
Variable Interest Entities
A variable interest entity (“VIE”) is consolidated when we are identified as the primary beneficiary of the VIE. Current accounting guidance requires continuous analysis to determine the primary beneficiary of a VIE. At the start of our involvement, and periodically thereafter, we reassess our consolidation conclusions for all entities with which we are involved. At December 31, 2024, and 2023, we had no VIEs consolidated in our financial statements.
Statement of Cash Flows
For purposes of presentation on the consolidated statements of cash flows, “cash and cash equivalents” are defined as those amounts included in “Cash and due from banks” on the consolidated balance sheets.
Securities Purchased Under Agreements to Resell
Securities purchased under agreements to resell consist of overnight and term agreements, with the majority maturing within 50 days. These agreements are generally classified as collateralized financing transactions and are carried at the acquisition cost plus accrued interest. We, or third parties on our behalf, take possession of the underlying securities. The fair value of such securities is continuously monitored throughout the contract term to ensure asset values remain sufficient to mitigate counterparty default risk. Contractual provisions allow us to sell or
repledge certain securities accepted as collateral for securities purchased under agreements to resell. At December 31, 2024, and 2023, we held $1.4 billion and $0.9 billion, respectively, of securities for which we were permitted by contract to sell or repledge. The average balance of securities purchased under agreements to resell was $2.2 billion and $1.3 billion in 2024 and 2023, and the maximum amount outstanding at any month-end during these same periods was $3.0 billion and $2.0 billion, respectively. If sold, our obligation to return the collateral is recorded as “securities sold, not yet purchased” and included as a liability in “Federal funds and other short-term borrowings” on the consolidated balance sheet.
Other Noninterest-bearing Investments
Other noninterest-bearing investments include private equity investments (“PEIs”), venture capital securities, securities acquired for various debt and regulatory requirements, bank-owned life insurance (“BOLI”), and certain other noninterest-bearing investments. See Note 3 for further information.
Certain PEIs and venture capital securities are accounted for under the equity method of accounting when we can exercise significant influence over the investee's operating and financial policies. Equity investments in PEIs that do not grant significant influence are reported at fair value, unless a readily determinable fair value in unavailable. In such cases, we have elected to measure PEIs at cost, less impairment (if any), plus or minus observable price changes from identical or similar investments of the same issuer, referred to as the “measurement alternative.” Periodic impairment reviews are conducted by comparing carrying values with fair value estimates. Changes in fair value, impairment losses, and gains and losses from sales are included in “Securities gains (losses), net” on the consolidated statement of income.
BOLI is accounted for at fair value based on the cash surrender values (“CSVs”) of the general account insurance policies.
Business Combinations
Business combinations are accounted for under the acquisition method of accounting. Upon initially obtaining control, we recognize 100% of all acquired assets and assumed liabilities, regardless of the ownership percentage. These assets and liabilities are recorded at their estimated fair values, with goodwill recognized when such net fair values are less than the acquisition cost. Certain transaction and restructuring costs are expensed as incurred. Changes to estimated fair values from a business combination are recognized as adjustments to goodwill during the measurement period, which cannot exceed one year from the acquisition date. The results of operations of acquired businesses are included on our consolidated statement of income from the date of acquisition.
Other Real Estate Owned
Other real estate owned (“OREO”) consists primarily of commercial and residential real estate acquired in partial or full satisfaction of loan obligations. These properties are initially recorded at fair value, less estimated selling costs, based on recent property appraisals at the time of transfer. Subsequently, they are recorded at the lower of cost or fair value, less estimated selling costs.
Significant Accounting Policies
The following schedule references other significant accounting policies and the Note and page where a description of each policy can be found:
Fair valueNote 3
page 98
Goodwill and other intangible assetsNote 10
page 133
Offsetting assets and liabilitiesNote 4
page 104
Long-term debtNote 13
page 135
Investment securitiesNote 5
page 104
Commitments, guarantees, contingent liabilities, and related partiesNote 16
page 140
Loans and allowance for credit lossesNote 6
page 109
Revenue from contracts with customersNote 17
page 142
Derivative instruments and hedging activitiesNote 7
page 125
Share-based compensationNote 19
page 145
LeasesNote 8
page 131
Income taxesNote 20
page 148
Premises, equipment, and softwareNote 9
page 132
Net earnings per common shareNote 21
page 150
v3.25.0.1
RECENT ACCOUNTING PRONOUNCEMENTS
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS RECENT ACCOUNTING PRONOUNCEMENTS
Standard
Description
Effective date
Effect on the financial statements or other significant matters
Standards not yet adopted by the Bank as of December 31, 2024
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
This accounting standards update (“ASU”) requires additional detailed information to improve the usefulness of income tax disclosures. This includes providing detailed annual disclosures on rate reconciliation and income taxes paid for specific categories and when certain quantitative thresholds are met.
January 1, 2025
The overall effect of this standard is not expected to have a material impact on our financial statements.
ASU 2024-03,
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
This ASU requires additional disclosures of certain costs and expenses in both interim and annual reporting periods, including:
•Amounts of employee compensation, depreciation, and intangible asset amortization included in certain expense lines presented on the face of the income statement within continuing operations.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
•The Bank's definition and amount of selling costs.
Annual periods beginning January 1, 2027; Interim periods beginning January 1, 2028
We are evaluating the new disclosure requirements. The overall effect of this standard is not expected to have a material impact on our financial statements.
Standards adopted by the Bank in 2024
ASU 2023-02,
Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)
This ASU expands the optional application of the proportional amortization method (“PAM”), which was previously limited to investments in low-income housing tax credit (“LIHTC”) structures. It now includes any eligible equity investments primarily made to receive income tax credits and other tax benefits, provided certain criteria are met. Under PAM, the investment cost is amortized in proportion to the income tax credits and other income tax benefits received. The amortization of the investment and the income tax credits are presented net on the consolidated statement of income as a component of income tax expense (benefit).

This ASU allows for an accounting policy election to apply PAM on a tax-credit-program-by-tax-credit-program basis. The ASU also includes additional disclosure requirements for equity investments accounted for using PAM.		January 1, 2024We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements.
Standards adopted by the Bank in 2024
ASU 2022-03,
Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
This ASU clarifies that contractual restrictions prohibiting the sale of an equity security are not included in the unit of account of the equity security, and therefore, are not considered when measuring fair value. The amendments specify that the Bank cannot recognize and measure a contractual sale restriction as a separate unit of account. Additionally, the ASU requires further qualitative and quantitative disclosures for equity securities subject to contractual sale restrictions.
January 1, 2024We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements.
ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
This ASU expands operating segment disclosures and requires all segment disclosures to be reported in both annual and interim periods. The new standard requires disclosure of the following:
•Significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) for reportable segments;
•The title and position of the CODM as well as how the CODM uses the reported measure(s) of profit and loss to assess segment performance; and
•“Other segment items” by reportable segment and a description of its composition.
Annual periods beginning January 1, 2024; Interim periods beginning January 1, 2025
We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements. See Note 22 of the Notes to Consolidated Financial Statements.
v3.25.0.1
FAIR VALUE
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
Fair Value Measurement
We measure many of our assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To enhance consistency and comparability in fair value measurements, we prioritize valuation inputs following a three-level hierarchy, as described below. We prioritize quoted prices in active markets and minimize reliance on unobservable inputs. When observable market prices are unavailable, fair value is estimated using modeling techniques, employing assumptions that align with those that market participants would consider in pricing the asset or liability. Changes in market conditions may reduce the availability of quoted prices or observable data.
The following fair value hierarchy prioritizes the use of observable inputs over unobservable inputs when measuring the fair value of assets and liabilities:
•Level 1 — Quoted prices in active markets for identical assets or liabilities that we have the ability to access;
•Level 2 — Observable inputs other than Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in less active markets, observable inputs other than quoted prices used in the valuation of an asset or liability, and inputs derived principally from or corroborated by observable market data through correlation or other means; and
•Level 3 — Unobservable inputs supported by minimal or no market activity for financial instruments whose value is determined by pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
The classification of a fair value measurement within the fair value hierarchy is based on the lowest level input that is significant to the measurement. Market activity is presumed to be orderly in the absence of evidence of forced or
disorderly sales. Applicable accounting guidance precludes the use of blockage factors or liquidity adjustments due to the quantity of securities held by the Bank.
We measure certain assets and liabilities at fair value on a recurring basis when fair value is the primary measure for accounting. Fair value is also used on a nonrecurring basis for certain assets or liabilities to determine any impairment, apply lower of cost or fair value accounting, or for disclosure purposes of certain financial instruments.
Fair Value Policies and Procedures
We have established various policies, processes, and controls to ensure that fair values are reasonably estimated, reviewed, and approved for use. Our Securities Valuation Committee, comprised of executive management, reviews and approves the key components of fair value measurements on a quarterly basis, including critical valuation assumptions for Level 3 measurements. Our Model Risk Management Group conducts model validations, including internal models, and sets policies and procedures for revalidation, including the timing of revalidation.
Third-party Service Providers
We utilize a third-party pricing service to measure fair value of substantially all of our Level 2 available-for-sale (“AFS”) securities. Fair value measurements for other Level 2 AFS securities generally rely on inputs corroborated by market data and include discounted cash flow analyses.
For Level 2 securities, the third-party pricing service provides ongoing documentation that includes market data, detailed pricing information and market reference data. This documentation includes benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data from the vendor trading platform. We regularly review, test, and validate this information.
The following describes the hierarchy designations, valuation methodologies, and key inputs used to measure fair value on a recurring basis for designated financial instruments:
Trading securities
Trading securities are measured using observable market inputs and are classified in Level 1 and Level 2.
Available-for-Sale investment securities
•U.S. Treasury, Agencies and Corporations — U.S. Treasury securities measured using quoted market prices are classified in Level 1. U.S. agency and corporate securities measured using observable market inputs are classified in Level 2.
•Municipal Securities — Municipal securities are measured using observable market inputs and are classified in Level 2.
•Other Debt Securities — Other debt securities are measured using quoted prices for similar securities and are classified in Level 2.
Loans held for sale
We have elected the fair value option for certain commercial real estate (“CRE”) loans designated for sale to a third-party conduit for securitization. These loans are measured at fair value using observable market prices for mortgage-backed securities with similar collateral, and are therefore generally classified in Level 2. The valuation of these loans incorporates adjustments for differences between the securities and the underlying loans, considering factors such as credit quality, portfolio composition, and liquidity.
Bank-owned Life Insurance
BOLI is measured according to the CSV of the insurance policies. Nearly all policies are general account policies with CSVs based on our claims on the assets of the insurance companies. The insurance companies’ investments predominantly include fixed-income securities, such as investment-grade corporate bonds and various types of mortgage instruments. Management regularly reviews the performance of its BOLI investments, including concentrations among insurance providers, and classifies BOLI balances in Level 2 in the fair value hierarchy.
Private Equity Investments
PEIs measured at fair value on a recurring basis are generally classified in Level 3 due to the inclusion of unobservable inputs in their valuation. Key assumptions and considerations include current and projected financial performance, recent financing activities, economic and market conditions, market comparable companies, market liquidity, and other relevant factors. The majority of these PEIs are held in our Small Business Investment Company (“SBIC”) and consist of early-stage venture investments. These investments are reviewed at least quarterly by the Securities Valuation Committee and whenever a new round of financing occurs. Some of these investments may be valued using multiples of operating performance. Occasionally, PEIs may become publicly traded and are then measured in Level 1. Certain restrictions may apply to the redemption of these investments.
Agriculture Loan Servicing
We service agriculture loans approved and funded by the Federal Agricultural Mortgage Corporation (“FAMC”) under an agreement for the loans it owns. The servicing assets are measured at fair value, representing our projection of the present value of net future servicing cash flows. Due to the inclusion of unobservable inputs in these measurements, these assets are classified in Level 3.
Deferred Compensation Plan Assets
Invested assets in the deferred compensation plan consist of shares of registered investment companies. These mutual funds are valued using quoted market prices, representing the net asset value (“NAV”) of shares held by the plan at the end of the period. Consequently, these assets are classified in Level 1.
Derivatives
Exchange-traded derivatives, such as foreign currency exchange contracts, are generally classified in Level 1 due to their trading in active markets. Conversely, over-the-counter derivatives, which primarily include interest rate swaps, forwards, options, and purchased credit default swaps, are generally classified in Level 2. This classification arises because their fair values are derived from third-party services that utilize observable market inputs. These inputs include yield curves, foreign exchange rates, commodity prices, option volatility, counterparty credit risk, and other related data. Valuations incorporate credit valuation adjustments (“CVAs”) to account for nonperformance risk associated with both our counterparties and us. CVAs are generally determined by applying a credit spread to the total expected exposure, net of any collateral, of the derivative.
Securities Sold, Not Yet Purchased
Securities sold, not yet purchased, are included in “Federal funds and other short-term borrowings” on the consolidated balance sheet. They are measured using quoted market prices and are generally classified in Level 1. In cases where market prices for identical securities are unavailable, quoted prices for similar securities are utilized, with the related balances classified in Level 2.
Fair Value Hierarchy
The following schedule presents assets and liabilities measured at fair value on a recurring basis:
December 31, 2024
(In millions)Level 1Level 2Level 3Total
ASSETS
Trading securities$— $35 $— $35 
Available-for-sale securities:
U.S. Treasury, agencies, and corporations662 7,300 7,962 
Municipal securities1,108 1,108 
Other debt securities25 25 
Total available-for-sale662 8,433 — 9,095 
Loans held for sale25 25 
Other noninterest-bearing investments:
Bank-owned life insurance562 562 
Private equity investments 1
3 105 108 
Other assets:
Agriculture loan servicing20 20 
Deferred compensation plan assets149 149 
Derivatives446 446 
Total assets$814 $9,501 $125 $10,440 
LIABILITIES
Fed funds and other short-term borrowings:
Securities sold, not yet purchased$21 $— $— $21 
Other liabilities:
Derivatives350 350 
Total liabilities$21 $350 $— $371 
December 31, 2023
(In millions)Level 1Level 2Level 3Total
ASSETS
Trading securities$— $48 $— $48 
Available-for-sale securities:
U.S. Treasury, agencies, and corporations492 8,467 8,959 
Municipal securities1,318 1,318 
Other debt securities23 23 
Total available-for-sale492 9,808 — 10,300 
Loans held for sale43 43 
Other noninterest-bearing investments:
Bank-owned life insurance553 553 
Private equity investments 1
3 92 95 
Other assets:
Agriculture loan servicing19 19 
Deferred compensation plan assets124 124 
Derivatives420 420 
Total assets$619 $10,872 $111 $11,602 
LIABILITIES
Fed funds and other short-term borrowings:
Securities sold, not yet purchased$65 $— $— $65 
Other liabilities:
Derivatives333 333 
Total liabilities$65 $333 $— $398 
1 The level 1 PEIs generally relate to the portion of our SBIC investments and other similar investments that are publicly traded.
Fair Value Option for Certain Loans Held for Sale
We have elected the fair value option for certain commercial real estate loans designated for sale to a third-party conduit for securitization and hedged with derivative instruments. This election mitigates the accounting volatility that would otherwise arise from the asymmetry of accounting for loans held for sale at the lower of cost or fair value and derivatives at fair value, without the complexity of applying hedge accounting. These loans are included in “Loans held for sale” on the consolidated balance sheet. Associated fair value gains and losses are included in “Capital markets fees” on the consolidated statement of income, while accrued interest is included in “Interest and fees on loans.”
At December 31, 2024 and 2023, we had $25 million and $43 million of loans measured at fair value, with an unpaid principal balance of $26 million and $43 million, respectively. During 2024 and 2023, we recognized approximately $14 million and $4 million of net gains from loan sales and valuation adjustments of loans measured at fair value and the associated derivatives, respectively.
Level 3 Valuations
Roll-forward of Level 3 Fair Value Measurements
The following schedule presents a roll-forward of assets and liabilities that are measured at fair value on a recurring basis using Level 3 inputs:
 Level 3 Instruments
December 31, 2024December 31, 2023December 31, 2022
(In millions)Private
equity
investments		Ag loan servicingPrivate
equity
investments		Ag loan servicingPrivate
equity
investments		Ag loan servicing
Balance at beginning of year$92 $19 $81 $14 $66 $12 
Unrealized securities gains (losses), net9 — (2)— 3 — 
Other noninterest income— 1 — 5 — 2 
Purchases11 — 14 — 16 — 
Cost of investments sold(7)— (1)— (3)— 
Redemptions and paydowns— — — — — — 
Transfers out— — — — (1)— 
Balance at end of year$105 $20 $92 $19 $81 $14 
The roll-forward of Level 3 instruments includes the following realized gains and losses recognized in “Securities gains (losses), net” on the consolidated statement of income for the periods presented:
(In millions)Year Ended December 31,
202420232022
Securities gains (losses), net$1 $(1)$(2)
Nonrecurring Fair Value Measurements
Certain assets and liabilities may be measured at fair value on a nonrecurring basis. These include impaired loans measured at the fair value of the underlying collateral, OREO, and equity investments without readily determinable fair values. Nonrecurring fair value adjustments generally include changes in value resulting from observable price changes for equity investments without readily determinable fair values, write-downs of individual assets, or the application of lower of cost or fair value accounting.
Collateral-dependent loans were measured at the lower of amortized cost or the fair value of the collateral. OREO was initially measured at fair value based on collateral appraisals at the time of transfer and subsequently at the lower of cost or fair value (less any selling costs). The fair value measurement for collateral-dependent loans and OREO was based on third-party appraisals utilizing one or more valuation techniques (income, market, and cost approaches). Adjustments to calculated fair values were made based on recently completed and validated third-party appraisals, third-party appraisal services, automated valuation services, or our informed judgment. Automated valuation services, which use models based on market, economic, and demographic values, may be primarily used
for residential properties when values from any of the previous methods were not available within 90 days of the balance sheet date. At December 31, 2024, we had no collateral-dependent loans marked to fair value, and during 2024, we recognized no losses from fair value changes related to these loans.
Fair Value of Certain Financial Instruments
The following schedule presents the carrying values and estimated fair values of certain financial instruments:
 December 31, 2024December 31, 2023
(In millions)Carrying
value		Fair valueLevelCarrying
value		Fair valueLevel
Financial assets:
Held-to-maturity investment securities
$9,669 $9,382 2$10,382 $10,466 2
Loans and leases (including loans held for sale), net of allowance
58,788 57,130 357,148 54,832 3
Financial liabilities:
Time deposits11,482 11,468 29,996 9,964 2
Long-term debt950 950 2542 494 2
The preceding schedule excludes certain financial instruments recorded at fair value on a recurring basis, as well as certain financial assets and liabilities for which the carrying value approximates fair value. These include cash and due from banks, money market investments, demand, savings, and money market deposits, federal funds purchased and other short-term borrowings, and security repurchase agreements. The estimated fair value of demand, savings, and money market deposits is the amount payable on demand at the reporting date. Carrying value is used because these accounts have no stated maturity, customers can withdraw funds immediately, and there is generally negligible credit risk. Instruments for which carrying value approximates fair value are generally classified in Level 2 in the fair value hierarchy, as their pricing is largely based on observable market inputs. Time and foreign deposits are measured at fair value by discounting future cash flows using the applicable yield curve to the given maturity dates. Long-term debt is measured at fair value based on actual market trades (i.e., an asset value) when available, or by discounting cash flows to maturity using the applicable yield curve adjusted for credit spreads.
For loans measured at amortized cost, fair value is estimated for disclosure purposes by discounting future cash flows using the applicable yield curve, adjusted by a factor derived from analyzing recent loan originations and incorporating a liquidity premium inherent in the loan. These future cash flows are then reduced by the estimated aggregate credit losses over the life of the loan portfolio. The fair value for held-to-maturity (“HTM”) securities is estimated using a third-party pricing service or an internal model, which utilizes observable market yields as inputs.
These fair value disclosures represent our best estimates based on relevant market information and judgments regarding current economic conditions, future expected loss experience, risk characteristics of the various instruments, and other factors. These estimates are inherently subjective, involve uncertainties and significant judgment, and cannot be determined with precision. Changes in methodologies and assumptions would significantly affect these estimates.
v3.25.0.1
OFFSETTING ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2024
Offsetting [Abstract]  
OFFSETTING ASSETS AND LIABILITIES OFFSETTING ASSETS AND LIABILITIES
The following schedule presents gross and net information for selected financial instruments on the balance sheet:
December 31, 2024
(In millions)Gross amounts not offset on the balance sheet
DescriptionGross amounts recognizedGross amounts offset on the balance sheetNet amounts presented on the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$1,453 $— $1,453 $— $— $1,453 
Derivatives (included in Other assets)
446 — 446 (19)(404)23 
Total assets$1,899 $— $1,899 $(19)$(404)$1,476 
Liabilities:
Federal funds and other short-term borrowings
$3,832 $— $3,832 $— $— $3,832 
Derivatives (included in Other liabilities)
350 — 350 (19)(3)328 
Total liabilities$4,182 $— $4,182 $(19)$(3)$4,160 
December 31, 2023
(In millions)Gross amounts not offset on the balance sheet
DescriptionGross amounts recognizedGross amounts offset on the balance sheetNet amounts presented on the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$1,170 $(233)$937 $— $— $937 
Derivatives (included in Other assets)
420 — 420 (31)(357)32 
Total assets$1,590 $(233)$1,357 $(31)$(357)$969 
Liabilities:
Federal funds and other short-term borrowings
$4,612 $(233)$4,379 $— $— $4,379 
Derivatives (included in Other liabilities)
333 — 333 (31)(1)301 
Total liabilities$4,945 $(233)$4,712 $(31)$(1)$4,680 
Security repurchase and reverse repurchase agreements are offset, when applicable, on the balance sheet according to master netting agreements. Security repurchase agreements are included in “Federal funds and other short-term borrowings.” on the consolidated balance sheet. Derivative instruments may be offset under their master netting agreements; however, for accounting purposes, we present these items on a gross basis on our balance sheet. See Note 7 for further information regarding derivative instruments.
v3.25.0.1
INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
INVESTMENT SECURITIES INVESTMENT SECURITIES
Investment Securities
We classify our investment securities as either available-for-sale (“AFS”) or held-to-maturity (“HTM”), according to their purpose and holding period. Gains or losses on the sale of investment securities are recognized using the specific identification method and are recorded in noninterest income.
AFS securities are measured at fair value and consist of debt securities used to manage liquidity and interest rate risk and to generate interest income. Unrealized gains and losses from AFS securities, after applicable taxes, are recorded as a component of other comprehensive income (“OCI”).
HTM securities, which management has the intent and ability to hold until maturity, are carried at amortized cost. The amortized cost represents the original investment cost, adjusted for related amortization or accretion of any purchase premiums or discounts, and for any impairment losses, including credit-related impairment.
The carrying values of our investment securities do not include accrued interest receivables of $60 million and $65 million at December 31, 2024, and 2023, respectively. These receivables are included in “Other assets” on the consolidated balance sheet. The purchase premiums for callable debt securities classified as AFS or HTM are amortized into interest income at an effective yield to the earliest call date. The purchase premiums and discounts for all other AFS and HTM securities are recorded as interest income over the contractual life of the security using the effective yield method. As principal prepayments are received on securities, a proportionate amount of the related premium or discount is recognized in income so that the effective yield on the remaining portion of the security continues unchanged. See Note 3 for more information about the process to estimate fair value for investment securities.
When a security is transferred from AFS to HTM, the difference between its amortized cost basis and fair value at the date of transfer is amortized as a yield adjustment through interest income. The fair value at the date of transfer results in either a premium or discount to the amortized cost basis of the HTM securities. The amortization of unrealized gains or losses reported in accumulated other comprehensive income (“AOCI”) will offset the effect of the amortization of the premium or discount in interest income created by the transfer. The discount associated with securities previously transferred from AFS to HTM was $1.8 billion ($1.4 billion after tax) at December 31, 2024, compared with $2.1 billion ($1.5 billion after tax) at December 31, 2023.
The following schedule presents the amortized cost and estimated fair values of our AFS and HTM securities:
December 31, 2024
(In millions)Amortized
cost
Gross
unrealized
gains 1
Gross
unrealized
losses		Estimated
fair value
Available-for-sale
U.S. Treasury securities$781 $— $119 $662 
U.S. Government agencies and corporations:
Agency securities441 — 26 415 
Agency guaranteed mortgage-backed securities7,713 1 1,263 6,451 
Small Business Administration loan-backed securities455 — 21 434 
Municipal securities1,186 — 78 1,108 
Other debt securities25 — — 25 
Total available-for-sale10,601 1 1,507 9,095 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities148 — 8 140 
Agency guaranteed mortgage-backed securities9,202 2 263 8,941 
Municipal securities319 — 18 301 
Total held-to-maturity9,669 2 289 9,382 
Total investment securities$20,270 $3 $1,796 $18,477 
December 31, 2023
(In millions)Amortized
cost
Gross
unrealized
gains 1
Gross
unrealized
losses		Estimated
fair value
Available-for-sale
U.S. Treasury securities$585 $— $93 $492 
U.S. Government agencies and corporations:
Agency securities663 — 33 630 
Agency guaranteed mortgage-backed securities8,530 — 1,239 7,291 
Small Business Administration loan-backed securities571 — 25 546 
Municipal securities1,385 — 67 1,318 
Other debt securities25 — 2 23 
Total available-for-sale11,759 — 1,459 10,300 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities93 — 6 87 
Agency guaranteed mortgage-backed securities9,935 156 50 10,041 
Municipal securities354 — 16 338 
Total held-to-maturity10,382 156 72 10,466 
Total investment securities$22,141 $156 $1,531 $20,766 
1 Gross unrealized gains for the respective AFS security categories were individually less than $1 million.
Maturities
The following schedule presents the amortized cost and weighted average yields of debt securities by remaining contractual maturity of principal payments at December 31, 2024. It does not incorporate interest rate resets and fair value hedges. The remaining contractual principal maturities do not reflect the duration of the portfolio, which includes amortization and expected prepayments; these effects result in measured durations shorter than contractual maturities.
December 31, 2024
Total debt securitiesDue in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years
(Dollar amounts in millions)Amortized cost
Average yield
Amortized cost
Average yield
Amortized cost
Average yield
Amortized cost
Average yield
Amortized cost
Average yield
Available-for-sale
U.S. Treasury securities$781 3.28 %$179 4.41 %$101 4.00 %$100 4.23 %$401 2.35 %
U.S. Government agencies and corporations:
Agency securities441 3.09 74 2.99 44 3.83 195 2.92 128 3.14 
Agency guaranteed mortgage-backed securities
7,713 2.02 18 1.25 105 2.04 1,390 2.09 6,200 2.00 
Small Business Administration loan-backed securities
455 4.78 1 7.46 13 5.74 122 3.91 319 5.07 
Municipal securities 1
1,186 2.27 176 3.27 315 2.53 674 1.89 21 2.30 
Other debt securities25 8.34 — — 10 9.51 — — 15 7.56 
Total available-for-sale securities10,601 2.32 448 3.61 588 2.98 2,481 2.28 7,084 2.20 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities148 4.18 — — — — — — 148 4.18 
Agency guaranteed mortgage-backed securities
9,202 1.84 — — — — 41 1.89 9,161 1.84 
Municipal securities 1
319 3.22 34 3.49 132 2.93 140 3.32 13 4.25 
Total held-to-maturity securities9,669 1.92 34 3.49 132 2.93 181 3.00 9,322 1.88 
Total investment securities$20,270 2.13 $482 3.60 $720 2.97 $2,662 2.33 $16,406 2.02 
1 The yields on tax-exempt securities are calculated on a tax-equivalent basis.
The following schedule presents gross unrealized losses for AFS securities and the estimated fair value, categorized by the length of time the securities have been in an unrealized loss position:
December 31, 2024
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Available-for-sale
U.S. Treasury securities$3 $198 $116 $285 $119 $483 
U.S. Government agencies and corporations:
Agency securities— 3 26 403 26 406 
Agency guaranteed mortgage-backed securities— 86 1,263 6,171 1,263 6,257 
Small Business Administration loan-backed securities— 35 21 387 21 422 
Municipal securities— 68 78 984 78 1,052 
Other— — — — — — 
Total available-for-sale investment securities$3 $390 $1,504 $8,230 $1,507 $8,620 
December 31, 2023
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Available-for-sale
U.S. Treasury securities$— $— $93 $308 $93 $308 
U.S. Government agencies and corporations:
Agency securities— 5 33 605 33 610 
Agency guaranteed mortgage-backed securities71 312 1,168 6,902 1,239 7,214 
Small Business Administration loan-backed securities— 4 25 484 25 488 
Municipal securities2 229 65 1,061 67 1,290 
Other— — 2 13 2 13 
Total available-for-sale investment securities$73 $550 $1,386 $9,373 $1,459 $9,923 
At December 31, 2024, and 2023, approximately 2,534 and 2,998 AFS investment securities were in an unrealized loss position, respectively.
Impairment
On a quarterly basis, we review our investment securities portfolio for the presence of impairment on an individual security basis. For AFS securities, when the fair value of a debt security is less than its amortized cost basis at the balance sheet date, we assess for credit impairment. When determining if the fair value of an investment is less than the amortized cost basis, we exclude accrued interest from the amortized cost basis of the investment. If we intend to sell an identified security, or if it is more likely than not we will be required to sell the security before recovering its amortized cost basis, we write the amortized cost down to the security’s fair value at the reporting date through earnings.
If we have the intent and ability to hold the securities, we determine whether any impairment is attributable to credit-related factors. We analyze certain factors, primarily internal and external credit ratings, to determine if the decline in fair value below the amortized cost basis results from a credit loss or other factors. If a credit impairment is identified, we measure the amount of credit loss and recognize an allowance for it.
To measure the credit loss, we generally compare the present value of expected cash flows from the security to its amortized cost basis. These cash flows are adjusted for credit using assumptions for default probability and loss severity, among other factors. Additional inputs, such as prepayment rate assumptions, are also utilized, and certain internal models may be employed. To determine the credit-related portion of impairment, we use the security-specific effective interest rate to estimate the present value of cash flows. If the present value of cash flows is less than the amortized cost basis of the security, this amount is recorded as an allowance for credit loss, limited to the amount by which the fair value is less than the amortized cost basis (i.e., the credit impairment cannot result in the security being carried at an amount lower than its fair value).
The assumptions used to estimate expected cash flows depend on the asset class, structure, and credit rating of the security. Declines in fair value not recorded in the allowance are recorded in other comprehensive income, net of applicable taxes. The process, methodology, and factors considered to evaluate securities for impairment are described below. See also Note 3 for additional information regarding the measurement of our investment securities at fair value.
AFS Impairment
We did not recognize any impairment on our AFS investment securities portfolio during 2024 and 2023. Unrealized losses primarily relate to higher interest rates subsequent to the purchase of securities and are not attributable to credit. Therefore, absent any future sales, we expect to receive the full principal value at maturity. At December 31, 2024, we had not initiated any sales of AFS securities, nor did we have an intent to sell any identified securities with unrealized losses. We do not believe it is more likely than not that we would be required to sell such securities before recovering their amortized cost basis.
HTM Impairment
For HTM securities, the allowance for credit losses (“ACL”) is assessed consistent with the approach described in Note 6 for loans and leases measured at amortized cost. At December 31, 2024, the ACL on HTM securities was less than $1 million, all HTM securities were risk-graded as “Pass” in terms of credit quality, and none were considered past due.
Investment Securities Gains and Losses Recognized in Income
The following schedule presents investment securities gains and losses recognized in income:
202420232022
(In millions)Gross
gains		Gross
losses		Gross
gains		Gross
losses		Gross
gains		Gross
losses
Available-for-sale$— $— $72 $72 $— $— 
The following schedule presents interest income categorized by investment security type:
(In millions)202420232022
TaxableNontaxableTotalTaxableNontaxableTotalTaxableNontaxableTotal
Available-for-sale$294 $31 $325 $291 $31 $322 $411 $40 $451 
Held-to-maturity218 4 222 236 3 239 42 4 46 
Total investment securities$512 $35 $547 $527 $34 $561 $453 $44 $497 
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES
Loans, Leases, and Loans Held for Sale
At the time of origination, loans are classified as either held for investment or held for sale based on our intended purpose. We may subsequently change our intent for a loan or group of loans and reclassify them accordingly. Loans held for sale are carried at the lower of cost or fair value. A valuation allowance is recorded when cost exceeds fair value, based on reviews at the time of reclassification and periodically thereafter. Associated gains and losses are calculated based on the difference between sales proceeds and carrying value, and are included in “Loan-related fees and income” on the consolidated statement of income.
In the ordinary course of business, we may syndicate portions of loans or transfer portions of loans under participation agreements to manage credit risk and portfolio concentration. We evaluate loan participations to ensure they comply with the relevant accounting guidance to qualify as sales.
We elect the fair value option for certain CRE loans designated for sale or securitization and are hedged with derivative instruments, as described further in Note 3. Gains and losses on the sale of these loans are included in “Capital markets fees” on the consolidated statement of income.
The following schedule presents our loan and lease portfolio according to major portfolio segment and specific class:
December 31,
(In millions)20242023
Loans held for sale$74 $53 
Commercial:
Commercial and industrial$16,891 $16,684 
Leasing377 383 
Owner-occupied9,333 9,219 
Municipal4,364 4,302 
Total commercial30,965 30,588 
Commercial real estate:
Construction and land development2,774 2,669 
Term10,703 10,702 
Total commercial real estate13,477 13,371 
Consumer:
Home equity credit line3,641 3,356 
1-4 family residential9,939 8,415 
Construction and other consumer real estate810 1,442 
Bankcard and other revolving plans457 474 
Other121 133 
Total consumer14,968 13,820 
Total loans and leases
$59,410 $57,779 
Loans and leases classified as held for investment are measured and presented at their amortized cost basis, which includes net unamortized purchase premiums, discounts, and deferred loan fees and costs totaling $43 million and $37 million at December 31, 2024, and December 31, 2023, respectively. These unamortized amounts are amortized into interest income over the life of the loan using the interest method. The amortized cost basis of the loans does not include accrued interest receivables of $281 million and $299 million at December 31, 2024, and December 31, 2023, respectively. These receivables are included in “Other assets” on the consolidated balance sheet.
Municipal loans generally include loans to state and local governments (“municipalities”), with the debt service being repaid from general funds or pledged revenues of the municipal entity, or to private commercial entities or 501(c)(3) not-for-profit entities utilizing a pass-through municipal entity to achieve favorable tax treatment.
Land acquisition and development loans included in the construction and land development loan portfolio totaled $260 million at December 31, 2024 and $219 million at December 31, 2023.
Loans with a carrying value of approximately $40.4 billion at December 31, 2024, and $36.3 billion at December 31, 2023, have been pledged at the Federal Reserve and the Federal Home Loan Bank (“FHLB”) of Des Moines as collateral for current and potential borrowings.
Loans held for sale are measured individually at fair value or the lower of cost or fair value and primarily consist of CRE loans sold into securitization entities and conforming residential mortgages generally sold to U.S. government agencies. The following schedule presents loans added to, or sold from, the held for sale category during the periods presented:
Twelve Months Ended
December 31,
(In millions)20242023
Loans added to held for sale$922 $678 
Loans sold from held for sale899 632 
Occasionally, we retain continuing involvement in sold loans through servicing rights or guarantees. The principal balance of sold loans for which we have retained servicing was approximately $615 million at December 31, 2024,
and $431 million at December 31, 2023. Income from loans sold, excluding servicing, was $8 million in 2024, $16 million in 2023, and $14 million in 2022.
Allowance for Credit Losses
We evaluate loans throughout their lifecycle for indications of credit deterioration, which may affect the loan status, risk grading, and potentially the accounting for that loan. Loan status categories include accruing or nonaccruing, past due as to contractual payments, and modified. The ACL, which consists of the allowance for loan and lease losses (“ALLL”) and the reserve for unfunded lending commitments (“RULC”), represents our estimate of current expected credit losses related to the loan and lease portfolio and unfunded lending commitments as of the balance sheet date. The ACL for AFS and HTM debt securities is estimated separately from loans. For HTM securities, the ACL is estimated consistent with the approach for loans carried at amortized cost. See Note 5 for further discussion on our assessment of expected credit losses on AFS securities and disclosures related to AFS and HTM securities.
The ACL is calculated using the loan’s amortized cost basis, which includes the principal balance, net of unamortized premiums, discounts, and deferred fees and costs. We do not estimate the ACL for accrued interest receivables, as we reverse or write off uncollectible accrued interest receivable balances in a timely manner, generally within one month.
The methodologies we use to estimate the ACL depend on various factors, including the type of loan, the age and contractual term of the loan, expected payments (both contractual and estimated prepayments), credit quality indicators, economic forecasts, and the evaluation method (whether individually or collectively evaluated). Loan extensions or renewals are not considered in the ACL unless they are included in the original or modified loan contract and are not unconditionally cancellable.
Losses are charged to the ACL when recognized. Generally, commercial and CRE loans are charged off or charged down when they are determined to be uncollectible in whole or in part, or when 180 days past due, unless the loan is well secured and in process of collection. Consumer loans are either charged off or charged down to net realizable value no later than the month in which they become 180 days past due. Closed-end consumer loans that are not secured by residential real estate are either charged off or charged down to net realizable value no later than the month in which they become 120 days past due.
We establish the amount of the ACL by analyzing the portfolio at least quarterly, and we adjust the provision for loan losses and unfunded lending commitments to ensure the ACL is at an appropriate level at the balance sheet date. The ACL is determined based on our review of loans with similar risk characteristics, which are evaluated on a collective basis, as well as loans without similar risk characteristics, which are evaluated on an individual basis.
For commercial and CRE loans with commitments greater than $1 million, we assign internal risk grades using a comprehensive loan grading system based on financial and statistical models, individual credit analysis, and loan officer experience and judgment. The credit quality indicators described subsequently are based on this grading system. Estimated credit losses on all loan segments, including consumer and small commercial and CRE loans with commitments less than or equal to $1 million that are evaluated on a collective basis, are derived from statistical analyses of our historical default and loss experience since January 2008.
We estimate current expected credit losses for each loan by considering historical credit loss experience, current conditions, and reasonable and supportable forecasts about the future. We use the following two types of credit loss estimation models:
•Econometric loss models, which rely on statistical analyses of our historical loss experience, dependent on economic factors and other loan-level characteristics. Statistically relevant economic factors vary depending on the type of loan, but include variables such as unemployment, real estate price indices, energy prices, and gross domestic product (“GDP”). The models use multiple economic scenarios that reflect optimistic, baseline, and stressed economic conditions. The results derived using these economic scenarios are weighted to produce the credit loss estimate. Management may adjust the weights to reflect their assessment of current conditions and reasonable and supportable forecasts.
•Loss models based on our long-term average historical credit loss experience since 2008, which rely on statistical analyses of our historical loss experience, dependent upon loan-level characteristics.
Credit loss estimates for the first 12 months of a loan’s remaining life are derived using econometric loss models. Over a subsequent 12-month reversion period, we blend the estimated credit losses from the two model types on a straight-line basis. For the remaining life of the loan, the estimated credit losses are derived from the long-term average historical credit loss models.
For loans that do not share risk characteristics with other loans, we estimate lifetime expected credit losses on an individual basis. These include nonaccrual loans with a balance greater than $1 million. When a loan is individually evaluated for expected credit losses, we estimate a specific reserve for the loan based on either the projected present value of the loan’s future cash flows discounted at the loan’s effective interest rate, the observable market price of the loan, or the fair value of the loan’s underlying collateral.
When we base the specific reserve on the fair value of the loan’s underlying collateral, we generally charge off the portion of the balance that exceeds the fair value. For these loans, subsequent to the charge-off, if the fair value of the loan’s underlying collateral increases according to an updated appraisal, we establish a negative reserve up to the lesser of the amount of the charge-off or the updated fair value.
The methodologies described previously generally rely on historical loss information to help determine the quantitative portion of the ACL. We also consider other qualitative and environmental factors related to current conditions and reasonable and supportable forecasts that may indicate current expected credit losses could differ from the historical information reflected in our quantitative models. Thus, after applying historical loss experience, we review the quantitative portion of ACL for each portfolio segment. We then monitor various qualitative risk factors that influence our judgment regarding the level of the ACL across the portfolio segments. These factors primarily include:
•Actual and expected changes in international, national, regional, and local economic and business conditions and developments;
•The volume and severity of past due loans, the volume of nonaccrual loans, and the volume and severity of adversely classified or graded loans;
•Lending policies and procedures, including changes in underwriting standards and practices for collection, charge-off, and recovery;
•The experience, ability, and depth of lending management and other relevant staff;
•The nature and volume of the portfolio;
•The quality of the credit review function;
•The existence, growth, and effect of any concentration of credit;
•The effect of other external factors such as regulatory, legal, and technological environments; fiscal and monetary actions; competition; and events such as natural disasters and pandemics.
The magnitude of the impact of these factors on our qualitative assessment of the ACL changes from quarter to quarter based on management's assessment of these factors, the extent to which these factors are already reflected in quantitative loss estimates, and the extent to which changes in these factors diverge from one to another. We also consider the uncertainty and imprecision inherent in the estimation process when evaluating the ACL.
Off-balance Sheet Credit Exposures
We estimate current expected credit losses for off-balance sheet loan commitments, including letters of credit that are not unconditionally cancellable. This estimate uses the same procedures and methodologies described previously for loans and is calculated as the difference between the estimated current expected credit loss and the funded balance, if greater than zero.
Changes in the Allowance for Credit Losses
The following schedule presents a roll forward of the ACL categorized by loan portfolio segment:
December 31, 2024
(In millions)
 
CommercialCommercial
real estate		ConsumerTotal
Allowance for loan and lease losses
Balance at beginning of year$302 $241 $141 $684 
Provision for loan losses51 67 (46)72 
Gross loan and lease charge-offs68 11 12 91 
Recoveries23 3 5 31 
Net loan and lease charge-offs (recoveries)45 8 7 60 
Balance at end of year$308 $300 $88 $696 
Reserve for unfunded lending commitments
Balance at beginning of year$19 $17 $9 $45 
Provision for unfunded lending commitments7 (6)(1)— 
Balance at end of year$26 $11 $8 $45 
Total allowance for credit losses
Allowance for loan and lease losses$308 $300 $88 $696 
Reserve for unfunded lending commitments26 11 8 45 
Total allowance for credit losses$334 $311 $96 $741 
December 31, 2023
(In millions)CommercialCommercial
real estate		ConsumerTotal
Allowance for loan and lease losses
Balance at beginning of year$300 $152 $120 $572 
Provision for loan losses27 92 29 148 
Gross loan and lease charge-offs45 3 14 62 
Recoveries20 — 6 26 
Net loan and lease charge-offs (recoveries)25 3 8 36 
Balance at end of year$302 $241 $141 $684 
Reserve for unfunded lending commitments
Balance at beginning of year$16 $33 $12 $61 
Provision for unfunded lending commitments3 (16)(3)(16)
Balance at end of year$19 $17 $9 $45 
Total allowance for credit losses
Allowance for loan and lease losses$302 $241 $141 $684 
Reserve for unfunded lending commitments19 17 9 45 
Total allowance for credit losses$321 $258 $150 $729 
Nonaccrual Loans
Loans are generally placed on nonaccrual when payment in full of principal and interest is not expected, or the loan is 90 days or more past due on principal or interest, unless it is both well secured and in the process of collection. The determination to place a loan on nonaccrual status considers factors such as delinquency status, collateral value, financial statements of the borrower or guarantor, bankruptcy status, and other indicators that suggest uncertainty in the full and timely collection of principal and interest.
A nonaccrual loan may be restored to accrual status when the following conditions are met: (1) all delinquent principal and interest are brought current in accordance with the loan agreement; (2) the loan, if secured, is well secured; (3) the borrower has made payments according to the contractual terms for a minimum of six months; and
(4) an analysis of the borrower indicates a reasonable assurance of their ability and willingness to continue making payments. The following schedule presents the amortized cost basis of loans on nonaccrual:
December 31, 2024
Amortized cost basisTotal amortized cost basis
(In millions)with no allowancewith allowanceRelated allowance
Commercial:
Commercial and industrial$45 $69 $114 $19 
Leasing— 2 2 1 
Owner-occupied18 13 31 1 
Municipal5 6 11 2 
Total commercial68 90 158 23 
Commercial real estate:
Term27 32 59 4 
Total commercial real estate27 32 59 4 
Consumer:
Home equity credit line5 25 30 5 
1-4 family residential12 37 49 4 
Bankcard and other revolving plans— 1 1 1 
Total consumer loans17 63 80 10 
Total$112 $185 $297 $37 
December 31, 2023
Amortized cost basisTotal amortized cost basis
(In millions)with no allowancewith allowanceRelated allowance
Commercial:
Commercial and industrial$11 $71 $82 $30 
Leasing— 2 2 1 
Owner-occupied12 8 20 1 
Total commercial23 81 104 32 
Commercial real estate:
Construction and land development22 — 22 — 
Term37 2 39 1 
Total commercial real estate59 2 61 1 
Consumer:
Home equity credit line1 16 17 5 
1-4 family residential8 32 40 5 
Total consumer loans9 48 57 10 
Total$91 $131 $222 $43 
For accruing loans, interest is accrued, and interest payments are recognized as interest income in accordance with the contractual loan agreement. For nonaccruing loans, the accrual of interest is discontinued, and any uncollected or accrued interest is promptly reversed from interest income, generally within one month. Payments received on nonaccruing loans are not recognized as interest income, but are applied to reduce the outstanding principal balance. When the collectibility of the amortized cost basis of a nonaccrual loan is no longer in doubt, interest payments may be recognized as interest income on a cash basis. During 2024 and 2023, no interest income was recognized on a cash basis while the loans were on nonaccrual.
The following schedule presents the amount of accrued interest receivables reversed from interest income categorized by loan portfolio segment during the periods presented:
Twelve Months Ended
December 31,
(In millions)202420232022
Commercial$16 $10 $12 
Commercial real estate5 3 1 
Consumer4 2 — 
Total$25 $15 $13 
Past Due Loans
Closed-end loans with monthly payments are reported as past due when the borrower is in arrears for two or more monthly payments. Similarly, open-end credits, such as bankcard and other revolving credit plans, are reported as past due when the minimum payment has not been made for two or more billing cycles. Other multi-payment obligations (e.g., quarterly, semi-annual), single payment, and demand notes are reported as past due when either principal or interest is due and unpaid for 30 days or more.
The following schedules present loans categorized by their past-due or delinquency status:
December 31, 2024
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
loans		Accruing
loans
90+ days
past due
Nonaccrual
loans
that are
current1
Commercial:
Commercial and industrial$16,857 $20 $14 $34 $16,891 $1 $98 
Leasing377 — — — 377 — 2 
Owner-occupied9,309 10 14 24 9,333 3 16 
Municipal4,348 6 10 16 4,364 10 11 
Total commercial30,891 36 38 74 30,965 14 127 
Commercial real estate:
Construction and land development
2,774 — — — 2,774 — — 
Term10,667 2 34 36 10,703 3 28 
Total commercial real estate13,441 2 34 36 13,477 3 28 
Consumer:
Home equity credit line3,609 20 12 32 3,641 — 13 
1-4 family residential9,896 16 27 43 9,939 — 15 
Construction and other consumer real estate
810 — — — 810 — 
Bankcard and other revolving plans
453 2 2 4 457 1 — 
Other121 — — — 121 — — 
Total consumer loans14,889 38 41 79 14,968 1 28 
Total$59,221 $76 $113 $189 $59,410 $18 $183 
December 31, 2023
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
loans		Accruing
loans
90+ days
past due
Nonaccrual
loans
that are
current1
Commercial:
Commercial and industrial$16,631 $38 $15 $53 $16,684 $1 $65 
Leasing381 2 — 2 383 — — 
Owner-occupied9,206 11 2 13 9,219 1 18 
Municipal4,301 1 — 1 4,302 — — 
Total commercial30,519 52 17 69 30,588 2 83 
Commercial real estate:
Construction and land development
2,645 2 22 24 2,669 — — 
Term10,661 14 27 41 10,702 — 3 
Total commercial real estate13,306 16 49 65 13,371 — 3 
Consumer:
Home equity credit line3,334 17 5 22 3,356 — 9 
1-4 family residential8,375 17 23 40 8,415 — 13 
Construction and other consumer real estate
1,442 — — — 1,442 — — 
Bankcard and other revolving plans
468 5 1 6 474 1 — 
Other132 1 — 1 133 — — 
Total consumer loans13,751 40 29 69 13,820 1 22 
Total$57,576 $108 $95 $203 $57,779 $3 $108 
1 Represents nonaccrual loans that are not past due more than 30 days; however, full payment of principal and interest is not expected.
Credit Quality Indicators
In addition to the nonaccrual and past due criteria, we also analyze loans using loan risk-grading systems, which vary based on the size and type of credit risk exposure. The internal risk grades assigned to loans follow our definitions of Pass, Special Mention, Substandard, and Doubtful, which align with published regulatory risk classifications.
Definitions of Pass, Special Mention, Substandard, and Doubtful are summarized as follows:
•Pass — A Pass asset is higher-quality and does not fit any of the other categories described below. The likelihood of loss is considered low.
•Special Mention — A Special Mention asset has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or our credit position at some future date.
•Substandard — A Substandard asset is inadequately protected by the current sound worth and paying capacity of the obligor or the collateral pledged, if any. Assets classified as Substandard have well-defined weaknesses and are characterized by the distinct possibility that we may sustain some loss if deficiencies are not corrected.
•Doubtful — A Doubtful asset has all the weaknesses inherent in a Substandard asset, with the added characteristics that the weaknesses make collection or liquidation in full highly questionable and improbable.
The amount of loans classified as Doubtful totaled $14 million at December 31, 2024. There were no loans classified as Doubtful at December 31, 2023.
For commercial and CRE loans with commitments greater than $1 million, we assign one of multiple grades within the Pass classification or one of the previously described risk classifications. We assess our internal risk grades quarterly, or as soon as we identify information that affects the credit risk of the loan.
For consumer loans and for commercial and CRE loans with commitments of $1 million or less, we generally assign internal risk grades similar to those previously described based on automated rules that consider refreshed credit scores, payment performance, and other risk indicators. These loans are generally assigned either a Pass, Special Mention, or Substandard grade, and are reviewed as we identify information that might warrant a grade change.
The following schedules present the amortized cost of loans and leases categorized by year of origination and by credit quality classifications as monitored by management:
December 31, 2024
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20242023202220212020PriorTotal
Commercial:
Commercial and industrial
Pass$2,479 $1,951 $1,504 $759 $387 $679 $8,043 $150 $15,952 
Special Mention37 24 47 8 2 34 85 5 242 
Accruing Substandard53 43 200 26 28 21 200 12 583 
Nonaccrual7 13 31 17 1 4 38 3 114 
Total commercial and industrial2,576 2,031 1,782 810 418 738 8,366 170 16,891 
Leasing
Pass109 79 94 26 12 36 — — 356 
Special Mention— — 2 — — — — — 2 
Accruing Substandard1 3 10 2 1 — — — 17 
Nonaccrual— 1 1 — — — — — 2 
Total leasing110 83 107 28 13 36 — — 377 
Owner-occupied
Pass1,346 907 1,606 1,657 900 2,097 234 47 8,794 
Special Mention38 — 38 31 2 18 18 1 146 
Accruing Substandard23 28 75 66 25 133 7 5 362 
Nonaccrual5 1 4 1 — 15 5 — 31 
Total owner-occupied1,412 936 1,723 1,755 927 2,263 264 53 9,333 
Municipal
Pass604 498 939 960 553 753 — 29 4,336 
Special Mention— — — — — — — — 
Accruing Substandard10 4 — — — 3 — — 17 
Nonaccrual3 — — 5 — 3 — — 11 
Total municipal617 502 939 965 553 759 — 29 4,364 
Total commercial4,715 3,552 4,551 3,558 1,911 3,796 8,630 252 30,965 
December 31, 2024
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20242023202220212020PriorTotal
Commercial real estate:
Construction and land development
Pass361 701 445 4 1 9 680 52 2,253 
Special Mention— 22 21 17 — — — 25 85 
Accruing Substandard57 52 249 78 — — — — 436 
Nonaccrual— — — — — — — — — 
Total construction and land development418 775 715 99 1 9 680 77 2,774 
Term
Pass1,687 1,198 2,093 1,278 1,053 1,608 254 175 9,346 
Special Mention48 — 87 — — 5 — — 140 
Accruing Substandard298 105 443 144 13 102 27 26 1,158 
Nonaccrual— — 23 — — 10 — 26 59 
Total term2,033 1,303 2,646 1,422 1,066 1,725 281 227 10,703 
Total commercial real estate2,451 2,078 3,361 1,521 1,067 1,734 961 304 13,477 
Consumer:
Home equity credit line
Pass— — — — — — 3,506 99 3,605 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 6 — 6 
Nonaccrual— — — — — — 22 8 30 
Total home equity credit line— — — — — — 3,534 107 3,641 
1-4 family residential
Pass1,062 870 2,959 1,877 925 2,197 — — 9,890 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— 3 8 9 2 27 — — 49 
Total 1-4 family residential1,062 873 2,967 1,886 927 2,224 — — 9,939 
Construction and other consumer real estate
Pass157 191 420 34 5 3 — — 810 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total construction and other consumer real estate157 191 420 34 5 3 — — 810 
Bankcard and other revolving plans
Pass— — — — — — 453 1 454 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 2 — 2 
Nonaccrual— — — — — — 1 — 1 
Total bankcard and other revolving plans— — — — — — 456 1 457 
Other consumer
Pass52 35 22 8 2 2 — — 121 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total other consumer52 35 22 8 2 2 — — 121 
Total consumer1,271 1,099 3,409 1,928 934 2,229 3,990 108 14,968 
Total loans$8,437 $6,729 $11,321 $7,007 $3,912 $7,759 $13,581 $664 $59,410 
December 31, 2023
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20232022202120202019PriorTotal
Commercial:
Commercial and industrial
Pass$2,654 $2,420 $1,204 $639 $494 $598 $7,973 $151 $16,133 
Special Mention8 98 34 2 20 37 103 — 302 
Accruing Substandard11 18 7 2 19 8 99 3 167 
Nonaccrual5 36 1 2 11 1 21 5 82 
Total commercial and industrial2,678 2,572 1,246 645 544 644 8,196 159 16,684 
Leasing
Pass104 125 47 29 45 18 — — 368 
Special Mention2 9 1 1 — — — — 13 
Accruing Substandard— — — — — — — — — 
Nonaccrual— 2 — — — — — — 2 
Total leasing106 136 48 30 45 18 — — 383 
Owner-occupied
Pass1,080 1,945 2,020 1,002 721 1,907 212 52 8,939 
Special Mention2 5 17 5 17 15 — — 61 
Accruing Substandard10 31 29 21 16 90 2 — 199 
Nonaccrual— 1 1 7 3 8 — — 20 
Total owner-occupied1,092 1,982 2,067 1,035 757 2,020 214 52 9,219 
Municipal
Pass601 1,080 1,069 623 382 512 — 3 4,270 
Special Mention7 — — — — 6 — — 13 
Accruing Substandard8 — 6 3 1 1 — — 19 
Nonaccrual— — — — — — — — — 
Total municipal616 1,080 1,075 626 383 519 — 3 4,302 
Total commercial4,492 5,770 4,436 2,336 1,729 3,201 8,410 214 30,588 
Commercial real estate:
Construction and land development
Pass553 938 355 56 7 4 518 127 2,558 
Special Mention— — 29 30 — — — — 59 
Accruing Substandard23 2 — 5 — — — — 30 
Nonaccrual— — — — 21 — 1 — 22 
Total construction and land development576 940 384 91 28 4 519 127 2,669 
Term
Pass1,861 2,385 1,833 1,449 804 1,438 238 110 10,118 
Special Mention55 108 65 78 44 6 — — 356 
Accruing Substandard79 18 12 16 5 24 — 35 189 
Nonaccrual— 26 — — 3 10 — — 39 
Total term1,995 2,537 1,910 1,543 856 1,478 238 145 10,702 
Total commercial real estate2,571 3,477 2,294 1,634 884 1,482 757 272 13,371 
December 31, 2023
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20232022202120202019PriorTotal
Consumer:
Home equity credit line
Pass— — — — — — 3,237 97 3,334 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 4 1 5 
Nonaccrual— — — — — — 15 2 17 
Total home equity credit line— — — — — — 3,256 100 3,356 
1-4 family residential
Pass814 2,264 1,823 988 594 1,891 — — 8,374 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — 1 — — 1 
Nonaccrual— 3 3 3 4 27 — — 40 
Total 1-4 family residential814 2,267 1,826 991 598 1,919 — — 8,415 
Construction and other consumer real estate
Pass212 1,002 200 15 7 6 — — 1,442 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total construction and other consumer real estate212 1,002 200 15 7 6 — — 1,442 
Bankcard and other revolving plans
Pass— — — — — — 471 1 472 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 2 — 2 
Nonaccrual— — — — — — — — — 
Total bankcard and other revolving plans— — — — — — 473 1 474 
Other consumer
Pass66 37 18 6 4 2 — — 133 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total other consumer66 37 18 6 4 2 — — 133 
Total consumer1,092 3,306 2,044 1,012 609 1,927 3,729 101 13,820 
Total loans$8,155 $12,553 $8,774 $4,982 $3,222 $6,610 $12,896 $587 $57,779 
The following schedules present gross charge-offs categorized by year of loan origination for the periods presented:
December 31, 2024
Term loansRevolving loans
gross charge-offs		Revolving loans converted to term loans gross charge-offs
Gross charge-offs by year of loan origination
(In millions)20242023202220212020PriorTotal
Commercial:
Commercial and industrial$— $3 $19 $2 $— $9 $30 $4 $67 
Owner-occupied— — 1 — — — — — 1 
Total commercial— 3 20 2 — 9 30 4 68 
Commercial real estate:
Term— 7 4 — — — — — 11 
Consumer:
Home equity credit line— — — — — — 1 — 1 
1-4 family residential— — — — — 1 — — 1 
Bankcard and other revolving plans— — — — — — 8 — 8 
Other— — — — — 2 — — 2 
Total consumer— — — — — 3 9 — 12 
Total gross charge-offs$— $10 $24 $2 $— $12 $39 $4 $91 
December 31, 2023
Term loansRevolving loans
gross charge-offs		Revolving loans converted to term loans gross charge-offs
Gross charge-offs by year of loan origination
(In millions)20232022202120202019PriorTotal
Commercial:
Commercial and industrial$1 $10 $6 $— $— $2 $24 $2 $45 
Commercial real estate:
Construction and land development— — — — 1 — — — 1 
Term— 2 — — — — — — 2 
Total commercial real estate— 2 — — 1 — — — 3 
Consumer:
Home equity credit line— — — — — — 3 — 3 
1-4 family residential— — — — — 2 — — 2 
Bankcard and other revolving plans— — — — — — 9 — 9 
Total consumer— — — — — 2 12 — 14 
Total gross charge-offs$1 $12 $6 $— $1 $4 $36 $2 $62 
Loan Modifications
Loans may be modified in the normal course of business for competitive reasons or to strengthen our collateral position. Modifications may also occur when the borrower experiences financial difficulty and requires temporary or permanent relief from the original contractual terms. For loans modified due to a borrower experiencing financial difficulty, we apply the same credit loss estimation methods used for the rest of the loan portfolio. These methods incorporate the post-modification loan terms, as well as defaults and charge-offs associated with historically modified loans. All nonaccruing loans greater than $1 million are evaluated individually, regardless of the type of modification.
We consider various factors when determining whether to agree to a loan modification, aiming to minimize potential loss while helping the borrower. Our evaluation includes the borrowers’ current and forecasted future cash flows, their ability and willingness to make current contractual or proposed modified payments, the value of the underlying collateral (if applicable), the possibility of obtaining additional sponsors or guarantees, and the potential costs related to a repossession or foreclosure and the subsequent sale of the collateral.
A modified loan on nonaccrual will generally remain on nonaccrual until the borrower has demonstrated the ability to perform under the modified terms for a minimum of six months, and there is evidence that such payments can and are likely to continue as agreed. Performance prior to the modification, or significant events that coincide with the modification, are considered in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual at the time of modification or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains on nonaccrual.
We continuously monitor the performance of all modified loans according to their modified terms. The amortized cost of modified loans that experienced a payment default during the twelve months ended December 31, 2024 and December 31, 2023, and were still in default at period end, and were within 12 months or less of being modified, totaled $1 million and less than $1 million, respectively.
The following schedule presents the amortized cost of loans to borrowers experiencing financial difficulty that were modified during the period, categorized by loan class and modification type:
Twelve Months Ended December 31, 2024
Amortized cost associated with
the following modification types:
(Dollar amounts in millions)Interest
rate reduction		Maturity
or term
extension		Principal
forgiveness		Payment
deferral
Multiple modification types 1
Total 2
Percentage of total loans 3
Commercial:
Commercial and industrial$19 $37 $— $1 $48 $105 0.6 %
Owner-occupied— 12 — — — 12 0.1 
Municipal— 11 — — — 11 0.3 
Total commercial19 60 — 1 48 128 0.4 
Commercial real estate:
Construction and land development
— 18 — — 25 43 1.6 
Term— 179 — — 110 289 2.7 
Total commercial real estate— 197 — — 135 332 2.5 
Consumer:
Home equity credit line— — 1 — 1 2 0.1 
1-4 family residential— — 2 — 5 7 0.1 
Bankcard and other revolving plans
— — — — 1 1 0.2 
Total consumer loans— — 3 — 7 10 0.1 
Total$19 $257 $3 $1 $190 $470 0.8 
Twelve Months Ended December 31, 2023
Amortized cost associated with
the following modification types:
(Dollar amounts in millions)Interest
rate reduction		Maturity
or term
extension		Principal
forgiveness		Payment
deferral
Multiple modification types 1
Total 2
Percentage of total loans 3
Commercial:
Commercial and industrial$— $46 $— $1 $— $47 0.3 %
Owner-occupied4 9 — 1 — 14 0.2 
Municipal— 8 — — — 8 0.2 
Total commercial4 63 — 2 — 69 0.2 
Commercial real estate:
Construction and land development
— 27 — — — 27 1.0 
Term— 165 — — — 165 1.5 
Total commercial real estate— 192 — — — 192 1.4 
Consumer:
1-4 family residential— — 1 — 1 2 — 
Bankcard and other revolving plans
— 1 — — — 1 0.2 
Total consumer loans— 1 1 — 1 3 — 
Total$4 $256 $1 $2 $1 $264 0.5 
1 Includes modifications that resulted from a combination of interest rate reduction, maturity or term extension, principal forgiveness, and payment deferral modifications. At December 31, 2024, $185 million included in multiple modification types were both interest rate reductions and maturity or term extensions.
2 Unfunded lending commitments related to loans modified to borrowers experiencing financial difficulty totaled $11 million and $22 million at December 31, 2024 and 2023, respectively.
3 Amounts less than 0.05% are rounded to zero.
The following schedule presents the financial impact of loan modifications to borrowers experiencing financial difficulty during the twelve months ended December 31, 2024 and 2023:
Twelve Months Ended
December 31, 2024		Twelve Months Ended
December 31, 2023
Weighted-average interest rate reduction (in percentage points)Weighted-average term extension
(in months)		Weighted-average interest rate reduction (in percentage points)Weighted-average term extension
(in months)
Commercial:
Commercial and industrial0.7 %7— %13
Owner-occupied 1
— 124.4 18
Municipal— 19— 12
Total commercial0.7 94.4 14
Commercial real estate:
Construction and land development
0.2 9— 8
Term0.6 9— 18
Total commercial real estate0.5 9— 16
Consumer: 1
Home equity credit line5.6 39— 0
1-4 family residential1.7 36— 103
Bankcard and other revolving plans
0.3 3— 50
Total consumer loans2.7 32— 82
Total weighted average financial impact0.6 104.4 16
1 Primarily relates to a small number of loans within each respective loan class.
Loan modifications to borrowers experiencing financial difficulty during the twelve months ended December 31, 2024 and 2023, resulted in approximately $1 million and less than $1 million of principal forgiveness, respectively, for the total loan portfolio for the period.
The following schedule presents the aging of loans to borrowers experiencing financial difficulty that were modified on or after January 1, 2023 (the date we adopted ASU 2022-02) through December 31, 2024, categorized by portfolio segment and loan class.
December 31, 2024
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
amortized cost of loans
Commercial:
Commercial and industrial$102 $2 $1 $3 $105 
Owner-occupied11 1 — 1 12 
Municipal3 — 8 8 11 
Total commercial116 3 9 12 128 
Commercial real estate:
Construction and land development
43 — — — 43 
Term289 — — — 289 
Total commercial real estate332 — — — 332 
Consumer:
Home equity credit line2 — — — 2 
1-4 family residential6 1 — 1 7 
Bankcard and other revolving plans
1 — — — 1 
Total consumer loans9 1 — 1 10 
Total$457 $4 $9 $13 $470 

December 31, 2023
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
amortized cost of loans
Commercial:
Commercial and industrial$44 $3 $— $3 $47 
Owner-occupied13 1 — 1 14 
Municipal8 — — — 8 
Total commercial65 4 — 4 69 
Commercial real estate:
Construction and land development
27 — — — 27 
Term156 9 — 9 165 
Total commercial real estate183 9 — 9 192 
Consumer:
1-4 family residential2 — — — 2 
Bankcard and other revolving plans
1 — — — 1 
Total consumer loans3 — — — 3 
Total$251 $13 $— $13 $264 
Collateral-dependent Loans
When a loan is individually evaluated for expected credit losses, we estimate a specific reserve for the loan based on the projected present value of the loan’s future cash flows discounted at the loan’s effective interest rate, the observable market price of the loan, or the fair value of the loan’s underlying collateral.
The following schedules present select information on loans for which the repayment is expected to be provided substantially through the operation or sale of the underlying collateral and the borrower is experiencing financial difficulties, including the type of collateral and the extent to which the collateral secures the loans:
December 31, 2024
(In millions)Amortized CostMajor Types of Collateral
Weighted Average LTV1
Commercial:
Owner occupied$6 Retail Facility64%
Municipal5 Multifamily Apartments174%
Commercial real estate:
Term49 Office Building98%
Consumer:
Home equity credit line3 Single Family Residential38%
1-4 family residential3 Single Family Residential29%
Total$66 
December 31, 2023
(In millions)Amortized CostMajor Types of Collateral
Weighted Average LTV1
Commercial:
Owner-occupied$7 Hospital17%
Commercial real estate:
Construction and land development22 Office Building92%
Term28 Office Building87%
Total$57 
1 The fair value is based on the most recent appraisal or other collateral evaluation.
Foreclosed Residential Real Estate
At both December 31, 2024, and December 31, 2023, we had less than $1 million in foreclosed residential real estate property. The amortized cost basis of consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure was $14 million and $11 million for the same respective periods.
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
 12 Months Ended
Dec. 31, 2024
Summary of Derivative Instruments [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Objectives for Using Derivatives
Our primary objective for using derivatives is to manage interest rate risk. We utilize derivatives to manage volatility in interest income, interest expense, earnings, and capital by adjusting our interest rate sensitivity to minimize the impact of interest rate fluctuations. Derivatives are employed to stabilize forecasted interest income from variable-rate assets and to modify the coupon or duration of fixed-rate financial assets or liabilities as deemed advisable. Additionally, we assist customers with their risk management needs through the use of derivatives.
Derivatives Related to Interest Rate Risk Management — We apply hedge accounting to certain derivatives executed for risk management purposes. However, not all derivatives involved in our risk management activities are designated for hedge accounting. Derivatives not designated as accounting hedges are used to economically manage our exposure to interest rate movements, including offsetting customer-facing derivatives. These derivatives are not used for speculative purposes. These derivatives either do not require hedge accounting for their economic impact to be appropriately reflected in our financial statements or they do not meet the strict hedge accounting requirements.
Derivatives Related to Customers — We provide certain borrowers with access to over-the-counter interest rate derivatives, which we generally offset with interest rate derivatives executed with dealers or central clearing houses. Other interest rate derivatives that we offer to customers, or use for our own purposes, include mortgage rate locks and forward sale loan commitments. Additionally, we provide commercial customers with short-term foreign currency spot trades or forward contracts, typically with maturities of 90 days or less. These trades are largely offset by foreign currency trades with closely matching terms executed with other dealer counterparties or central clearing houses.
Accounting for Derivatives
We record all derivatives at fair value, and include them in “Other assets” or “Other liabilities” on the consolidated balance sheet, regardless of their accounting designation. We enter into International Swaps and Derivatives Association, Inc. (“ISDA”) master netting agreements, or similar agreements, with substantially all derivative counterparties. Where legally enforceable, these agreements grant us the right, in the event of default or other specified contingent events by the counterparty, to use cash or liquidate securities held as collateral and to offset receivables and payables with the same counterparty. For the consolidated balance sheet, we report all derivatives on a gross fair value basis, meaning we do not offset derivative assets, liabilities, and cash collateral held with the same counterparty, even where we have a legally enforceable master netting agreement. Note 3 discusses the process for estimating fair value for derivatives. The accounting for changes in the fair value of derivatives depends on their intended use and resulting accounting designation.
Derivatives Designated in Qualifying Hedging Relationships
We apply hedge accounting to certain derivatives executed for risk management purposes, primarily interest rate risk. To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged, and the hedging relationship must be formally documented. We primarily use regression analysis to assess the effectiveness of each hedging relationship, unless the hedge qualifies for other methods of assessing effectiveness (e.g., shortcut or critical terms match), both at inception and on an ongoing basis. We designate derivatives as fair value and cash flow hedges for accounting purposes.
Derivatives designated as accounting hedges are formally documented at the inception of the hedging relationship. This documentation includes the relationship between the hedging instrument and the hedged items or transactions, the risk management objective and strategy, and the methodology that will be used at inception and on an ongoing basis to assess the effectiveness of the hedging relationship. This ensures the hedge remains highly effective at offsetting changes in fair value or cash flows of the hedged items or transactions. If a hedging relationship is determined to no longer be highly effective, hedge accounting is discontinued prospectively.
Derivatives used to hedge the exposure to changes in the fair value of assets, liabilities, or firm commitments attributable to interest rates or other eligible risks, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Changes in the fair value of derivatives that are not part of designated fair value or cash flow hedging relationships are recorded in current period earnings.
Fair Value Hedges — We generally use interest rate swaps designated as fair value hedges to mitigate changes in the fair value of fixed-rate assets and liabilities for specific risks, such as interest rate risk resulting from changes in a benchmark interest rate. We employ both pay-fixed, receive-floating and received-fixed, pay-floating interest rate swaps to effectively convert certain fixed-rate assets and liabilities to floating rates. In qualifying fair value hedges, changes in value of the derivative hedging instrument are recognized in current period earnings in the same line item affected by the hedged item. Similarly, the periodic changes in value of the hedged item, for the risk being hedged, are recognized in current period earnings, thereby offsetting all, or a significant majority, of the change in the value of the derivative hedging instrument. Interest accruals on both the derivative hedging instrument and the hedged item are recorded in the same line item, effectively converting the designated fixed-rate assets or liabilities to a floating rate.
Generally, the designated risk being hedged in all of our fair value hedges is the change in fair value of the secured overnight financing rate (“SOFR”) (or an alternative rate) benchmark swap rate component of the contractual coupon cash flows of the fixed-rate assets or liabilities. The swaps are structured to match the critical terms of the hedged items, maximizing the economic and accounting effectiveness of the hedging relationships and resulting in the expectation that the swaps will be highly effective as hedging instruments. All interest rate swaps designated as fair value hedges were highly effective and met all other requirements to remain designated and part of qualifying hedge accounting relationships as of the balance sheet date.
Fair Value Hedges of Liabilities — During the fourth quarter of 2024, we entered into a receive-fixed, pay-floating interest rate swap with a notional amount of $500 million to hedge the interest rate risk of a fixed-rate subordinated debt issuance. The receive-fixed interest rate swap effectively converts the interest on our fixed-rate debt to floating through the term of the hedging relationship. Changes in the fair value of the derivative designated as a fair value hedge of our fixed-rate debt were generally offset by changes in the fair value of the hedged debt instruments. We continue to have unamortized basis adjustments related to a previously terminated fair value hedge of fixed-rate debt as discussed in the schedule below. The unamortized basis adjustments from the previously terminated fair value hedge will be amortized over the remaining life of the fixed-rate debt, which matures in 2029. See Note 13 for more information on the hedged debt.
Fair Value Hedges of Assets — At December 31, 2024, we had $1.0 billion in aggregate notional amount of pay-fixed, receive-floating interest rate swaps designated as a fair value hedge of a defined portfolio of fixed-rate commercial loans. These swaps were designated in accordance with the portfolio layer method described in ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method. Additionally, we had $2.5 billion in aggregate notional amount of pay-fixed swaps designated under the portfolio layer method as fair value hedges of a defined portfolio of fixed-rate AFS securities.
At December 31, 2024, we also had pay-fixed, receive-floating interest rate swaps with an aggregate notional amount of $1.2 billion designated as fair value hedges of specifically identified AFS securities. Fair value hedges of fixed-rate assets effectively convert certain fixed-rate financial assets to a floating rate on the hedged portion of the assets. Changes in fair value of derivatives designated as fair value hedges of fixed-rate financial assets were largely offset by changes in the value of the hedged assets, as presented in the schedules below.
Cash Flow Hedges — For derivatives designated and qualifying as cash flow hedges, as long as the hedging relationship continues to qualify for hedge accounting, the entire change in the fair value of the hedging instrument is recorded in OCI and recognized in earnings, as the hedged transaction affects earnings. Ineffectiveness is not measured or separately disclosed. Gains or losses on derivatives designated as cash flow hedges are recognized in the same financial statement line item as the hedged transactions. We may use interest rate swaps, options, or a combination of options in our cash flow hedging strategy to eliminate or reduce the variability of interest receipts on floating-rate commercial loans and interest payments on floating-rate debt due to changes in any separately identifiable and reliably measurable contractual interest rate index.
At December 31, 2024, we had receive-fixed interest rate swaps with an aggregate notional amount of $550 million designated as cash flow hedges of the variability of interest receipts on floating-rate commercial loans. At December 31, 2024, we had $94 million of net losses deferred in AOCI related to terminated cash flow hedges. Amounts deferred in AOCI from terminated cash flow hedges will be amortized into interest income on a straight-line basis through the original maturity dates of the hedges, provided the hedged forecasted transactions continue to be expected to occur. These amounts will be fully reclassified to interest income by the fourth quarter of 2027. Additionally, at December 31, 2024, we had one pay-fixed interest rate swap with a notional amount of $500 million designated as a cash flow hedge of the variability in interest payments on certain FHLB advances.
Hedge Effectiveness — We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows on the derivative hedging instrument with the changes in fair value or cash flows on the designated hedged item or transactions for the risk being hedged. If a hedging relationship ceases to qualify for hedge accounting, the relationship is discontinued, and future changes in the fair value of the derivative instrument
are recognized in current period earnings. For a discontinued or terminated fair value hedging relationship, all remaining basis adjustments to the carrying amount of the hedged item are amortized into interest income or expense over the remaining life of the hedged item, consistent with the amortization of other discounts or premiums. Previous balances deferred in AOCI from discontinued or terminated cash flow hedges are reclassified into interest income or expense as the hedged transactions affect earnings or over the originally specified term of the hedging relationship.
Collateral and Credit Risk
Credit risk arises from the possibility of nonperformance by counterparties. No significant losses on derivative instruments occurred during 2024 as a result of counterparty nonperformance. We manage our counterparty exposure for derivative contracts by centrally clearing all eligible derivatives and by executing dealer-facing derivative transactions with well-capitalized financial institutions.
For derivatives that are not centrally cleared, the counterparties are typically financial institutions or our customers. For financial institution counterparties, we manage our credit exposure through the use of a Credit Support Annex (“CSA”) to an ISDA master agreement with each counterparty. Eligible collateral types are documented by the CSA and controlled under our general credit policies. Collateral and derivative exposure balances are typically monitored on a daily basis. At December 31, 2024, all variation margin posted or received pursuant to the collateral terms of a CSA was in cash. We generally satisfy initial margin requirements by posting securities when permitted by the terms of the CSA.
We provide interest rate swaps to our customers to help them manage their exposure to fluctuations in interest rates. Upon issuance, these customer swaps are offset with closely matching derivative contracts to mitigate our interest rate risk exposure. The fee income from these customer swaps is included in “Capital markets fees” on the consolidated statement of income. We manage the credit risk associated with customer nonperformance through additional underwriting processes. These processes include modeling the credit risk exposure for the swap, utilizing shared collateral and guarantee protection applicable to the loan, and implementing credit approvals, limits, and monitoring procedures.
We measure counterparty credit risk by calculating a CVA, which captures the value of nonperformance risk for both our customers and ourselves. Periodic changes in the net CVA are recorded in current period earnings and included in “Fair value and nonhedge derivative income or loss” on the consolidated statement of income.
Our derivative contracts require us to pledge collateral for derivatives in a net liability position. Certain derivative contracts include credit risk-related contingent features, such as the requirement to maintain a minimum debt credit rating. If a credit risk-related feature were triggered, such as a downgrade of our credit rating, we may be required to pledge additional collateral. Historically, not all counterparties have demanded additional collateral when contractually permitted.
At December 31, 2024, the fair value of our derivative liabilities was $350 million, for which we pledged approximately $3 million in cash collateral in the normal course of business to satisfy variation margin requirements. Additionally, we pledged $180 million in U.S. Treasuries to satisfy initial margin requirements with certain dealer counterparties and central clearing houses. If our credit rating were downgraded one notch by either Standard and Poor’s (“S&P”) or Moody’s at December 31, 2024, it is unlikely that additional collateral would be required to be pledged. Derivatives that are centrally cleared do not have credit risk-related features requiring additional collateral in the event of a credit rating downgrade.
Derivative Amounts
The following schedule presents derivative notional amounts and recorded gross fair values at December 31, 2024 and 2023:
December 31, 2024December 31, 2023
Notional
amount		Fair valueNotional
amount		Fair value
(In millions)Other
assets		Other
liabilities		Other
assets		Other
liabilities
Derivatives designated as hedging instruments:
Cash flow hedges of floating-rate assets:
Receive-fixed interest rate swaps
$550 $— $2 $1,450 $— $— 
Cash flow hedges of floating rate liabilities:
Pay-fixed interest rate swaps500 — — 500 — — 
Fair value hedges:
Debt hedges: Receive-fixed interest rate swaps500 — — — — — 
Asset hedges: Pay-fixed interest rate swaps 1
4,668 93 — 4,571 78 — 
Total derivatives designated as hedging instruments6,218 93 2 6,521 78 — 
Derivatives not designated as hedging instruments:
Customer interest rate derivatives 2
16,833 348 346 14,375 337 330 
Other interest rate derivatives1,105 1 — 1,001 1 — 
Foreign exchange derivatives373 4 2 216 3 3 
Purchased credit derivatives24 — — 35 1 — 
Total derivatives not designated as hedging instruments
18,335 353 348 15,627 342 333 
Total derivatives$24,553 $446 $350 $22,148 $420 $333 
1 The notional amount includes forward-starting swaps that are not yet effective.
2 Customer interest rate derivatives include both customer-facing and offsetting dealer-facing derivatives. These derivatives include a net CVA of $9 million at both December 31, 2024 and December 31, 2023, which reduces the fair value. These adjustments are necessary to reflect our nonperformance risk as well as that of the respective counterparty.
The following schedules present the amount of gains (losses) from derivative instruments designated as cash flow and fair value hedges that were deferred in AOCI or recognized in earnings for years ended December 31, 2024 and 2023:
Year Ended December 31, 2024
(In millions)Effective portion of derivative gain/(loss) deferred in AOCIAmount of gain/(loss) reclassified from AOCI into incomeInterest on fair value hedgesHedge ineffectiveness / AOCI reclass due to missed forecast
Cash flow hedges of floating-rate assets: 1
Receive-fixed interest rate swaps$(8)$(126)$— $— 
Cash flow hedges of floating-rate liabilities:
Pay-fixed interest rate swaps4 8 — — 
Fair value hedges: 2
Debt hedges: Receive-fixed interest rate swaps— — (8)— 
Asset hedges: Pay-fixed interest rate swaps— — 88 (1)
Total derivatives designated as hedging instruments
$(4)$(118)$80 $(1)
Year Ended December 31, 2023
(In millions)Effective portion of derivative gain/(loss) deferred in AOCIAmount of gain/(loss) reclassified from AOCI into incomeInterest on fair value hedgesHedge ineffectiveness / AOCI reclass due to missed forecast
Cash flow hedges of floating-rate assets: 1
Receive-fixed interest rate swaps$31 $(170)$— $— 
Cash flow hedges of floating-rate liabilities:
Pay-fixed interest rate swaps4 5 — — 
Fair value hedges: 2
Debt hedges: Receive-fixed interest rate swaps— — (9)— 
Asset hedges: Pay-fixed interest rate swaps— — 58 — 
Total derivatives designated as hedging instruments
$35 $(165)$49 $— 
1 For the 12 months following December 31, 2024, we estimate that $63 million of net losses from active and terminated cash flow hedges will be reclassified from AOCI into interest income/expense, compared with an estimate of $118 million at December 31, 2023.
2 We had cumulative unamortized basis adjustments from terminated fair value hedges of debt totaling $39 million and $46 million at December 31, 2024 and 2023, respectively. Additionally, we had $3 million of cumulative unamortized basis adjustments from terminated fair value hedges of assets at both December 31, 2024 and 2023. Interest on fair value hedges presented above includes the amortization of the remaining unamortized basis adjustments.
The following schedule presents the amount of gains (losses) recognized from derivatives not designated as accounting hedges:
Other Noninterest
Income/(Expense)
(In millions)20242023
Derivatives not designated as hedging instruments:
Customer interest rate derivatives
$30 $17 
Other interest rate derivatives1 4 
Foreign exchange derivatives29 29 
Purchased credit derivatives— (1)
Total derivatives not designated as hedging instruments
$60 $49 
The following schedule presents derivatives used in fair value hedge accounting relationships, along with the pre-tax gains/(losses) recorded on these derivatives and the related hedged items for the periods presented:
Gain/(loss) recorded in income
Twelve Months Ended
December 31, 2024		Twelve Months Ended
December 31, 2023
(In millions)
Derivatives 2
Hedged itemsTotal income statement impact
Derivatives 2
Hedged itemsTotal income statement impact
Fair value hedges:
Debt: Receive-fixed interest rate swaps 1,2
$(7)$7 $— $14 $(14)$— 
Assets: Pay-fixed interest rate swaps 1,2
108 (109)(1)(22)22 — 
1 Includes hedges of benchmark interest rate risk for fixed-rate long-term debt, fixed-rate AFS securities and fixed-rate commercial loans. Gains and losses were recorded in interest expense or income consistent with the hedged items.
2 The income/expense for derivatives does not reflect interest income/expense from periodic accruals and payments, to maintain consistency with the presentation of the gains/(losses) on the hedged items. Periodic interest income/expense for fair value hedges is shown in a separate schedule above.
The following schedule presents information regarding basis adjustments for hedged items in fair value hedging relationships:
Par value of hedged assets/(liabilities)Carrying amount of the hedged assets/(liabilities)Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities)
(In millions)202420232024202320242023
Fair value hedges:
Debt: Receive-fixed interest rate swaps 1
$(500)$— $(493)$— $7 $— 
Assets: Pay-fixed interest rate swaps 1,2
11,388 12,389 11,099 12,209 (289)(180)
1 Carrying amounts exclude (1) issuance and purchase discounts or premiums, (2) unamortized issuance and acquisition costs, and (3) amounts related to terminated fair value hedges.
2 Includes the amortized cost basis of defined portfolios of AFS securities and commercial loans used to designate hedging relationships, where the hedged item is the stated amount of assets in the defined portfolio anticipated to be outstanding for the designated hedged period. At December 31, 2024, the amortized cost basis of the defined portfolios used in these hedging relationships was $10.2 billion; the cumulative basis adjustment associated with these hedging relationships was $41 million, and the notional amounts of the designated hedging instruments were $3.5 billion.
v3.25.0.1
LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
We have operating and finance leases for branches, data centers, and corporate offices, including our headquarters in Salt Lake City, Utah. At December 31, 2024, we had 404 branches, with 275 owned and 129 leased. The remaining maturities of our lease commitments range from the year 2025 to 2062, with some lease arrangements including options to extend or terminate the leases.
All leases with lease terms greater than twelve months are reported as a lease liability with a corresponding right-of-use (“ROU”) asset. We include ROU assets for operating leases and finance leases in “Other assets” and “Premises, equipment and software, net” on the consolidated balance sheet, respectively. The corresponding liabilities for those leases are included in “Other liabilities” and “Long-term debt,” respectively.
ROU assets and related lease liabilities reflect the present value of the future minimum lease payments over the lease term at commencement date. Since most of our leases do not provide an implicit rate, we use our secured incremental borrowing rate, which is commensurate with the lease term, to calculate the present value of future payments. The ROU asset also includes any lease prepayments, initial direct costs, amortization, and certain nonlease components, such as maintenance, utilities, or tax payments. Our lease terms incorporate options to extend or terminate the lease when it is reasonably certain that we will exercise these options.
The following schedule presents ROU assets and lease liabilities with associated weighted average remaining life and discount rate:
December 31,
(Dollar amounts in millions)20242023
Operating leases
ROU assets, net of amortization$188$172
Lease liabilities240198
Finance leases
ROU assets, net of amortization33
Lease liabilities44
Weighted average remaining lease term (years)
Operating leases9.98.7
Finance leases15.616.5
Weighted average discount rate
Operating leases3.8 %3.4 %
Finance leases3.1 %3.1 %
The following schedule presents additional information related to lease expense:
Year Ended December 31,
(In millions)202420232022
Lease expense:
Operating lease expense$40 $43 $46 
Other expenses associated with operating leases 1
62 60 51 
Total lease expense$102 $103 $97 
Related cash disbursements for operating leases$43 $49 $50 
1 Other expenses primarily include property taxes and building and property maintenance.
The following schedule presents the total contractual undiscounted lease payments for operating lease liabilities by expected due date for each of the next five years:
(In millions)Total undiscounted lease payments
2025$40 
202636 
202727 
202828 
202925 
Thereafter140 
Total lease payments296 
Less imputed interest56 
Total$240 
We enter into certain lease agreements where we are the lessor of real estate. These leases involve bank-owned and subleased properties to generate cash flow, including leasing vacant suites within buildings we partially occupy. Operating lease income totaled $13 million in 2024, and $14 million in both 2023 and 2022.
We originated equipment leases, classified as sales-type leases or direct-financing leases, totaling $377 million and $383 million at December 31, 2024 and 2023, respectively. We recorded income of $18 million, $16 million, and $12 million from these leases during 2024, 2023, and 2022, respectively.
LEASES LEASES
We have operating and finance leases for branches, data centers, and corporate offices, including our headquarters in Salt Lake City, Utah. At December 31, 2024, we had 404 branches, with 275 owned and 129 leased. The remaining maturities of our lease commitments range from the year 2025 to 2062, with some lease arrangements including options to extend or terminate the leases.
All leases with lease terms greater than twelve months are reported as a lease liability with a corresponding right-of-use (“ROU”) asset. We include ROU assets for operating leases and finance leases in “Other assets” and “Premises, equipment and software, net” on the consolidated balance sheet, respectively. The corresponding liabilities for those leases are included in “Other liabilities” and “Long-term debt,” respectively.
ROU assets and related lease liabilities reflect the present value of the future minimum lease payments over the lease term at commencement date. Since most of our leases do not provide an implicit rate, we use our secured incremental borrowing rate, which is commensurate with the lease term, to calculate the present value of future payments. The ROU asset also includes any lease prepayments, initial direct costs, amortization, and certain nonlease components, such as maintenance, utilities, or tax payments. Our lease terms incorporate options to extend or terminate the lease when it is reasonably certain that we will exercise these options.
The following schedule presents ROU assets and lease liabilities with associated weighted average remaining life and discount rate:
December 31,
(Dollar amounts in millions)20242023
Operating leases
ROU assets, net of amortization$188$172
Lease liabilities240198
Finance leases
ROU assets, net of amortization33
Lease liabilities44
Weighted average remaining lease term (years)
Operating leases9.98.7
Finance leases15.616.5
Weighted average discount rate
Operating leases3.8 %3.4 %
Finance leases3.1 %3.1 %
The following schedule presents additional information related to lease expense:
Year Ended December 31,
(In millions)202420232022
Lease expense:
Operating lease expense$40 $43 $46 
Other expenses associated with operating leases 1
62 60 51 
Total lease expense$102 $103 $97 
Related cash disbursements for operating leases$43 $49 $50 
1 Other expenses primarily include property taxes and building and property maintenance.
The following schedule presents the total contractual undiscounted lease payments for operating lease liabilities by expected due date for each of the next five years:
(In millions)Total undiscounted lease payments
2025$40 
202636 
202727 
202828 
202925 
Thereafter140 
Total lease payments296 
Less imputed interest56 
Total$240 
We enter into certain lease agreements where we are the lessor of real estate. These leases involve bank-owned and subleased properties to generate cash flow, including leasing vacant suites within buildings we partially occupy. Operating lease income totaled $13 million in 2024, and $14 million in both 2023 and 2022.
We originated equipment leases, classified as sales-type leases or direct-financing leases, totaling $377 million and $383 million at December 31, 2024 and 2023, respectively. We recorded income of $18 million, $16 million, and $12 million from these leases during 2024, 2023, and 2022, respectively.
LEASES LEASES
We have operating and finance leases for branches, data centers, and corporate offices, including our headquarters in Salt Lake City, Utah. At December 31, 2024, we had 404 branches, with 275 owned and 129 leased. The remaining maturities of our lease commitments range from the year 2025 to 2062, with some lease arrangements including options to extend or terminate the leases.
All leases with lease terms greater than twelve months are reported as a lease liability with a corresponding right-of-use (“ROU”) asset. We include ROU assets for operating leases and finance leases in “Other assets” and “Premises, equipment and software, net” on the consolidated balance sheet, respectively. The corresponding liabilities for those leases are included in “Other liabilities” and “Long-term debt,” respectively.
ROU assets and related lease liabilities reflect the present value of the future minimum lease payments over the lease term at commencement date. Since most of our leases do not provide an implicit rate, we use our secured incremental borrowing rate, which is commensurate with the lease term, to calculate the present value of future payments. The ROU asset also includes any lease prepayments, initial direct costs, amortization, and certain nonlease components, such as maintenance, utilities, or tax payments. Our lease terms incorporate options to extend or terminate the lease when it is reasonably certain that we will exercise these options.
The following schedule presents ROU assets and lease liabilities with associated weighted average remaining life and discount rate:
December 31,
(Dollar amounts in millions)20242023
Operating leases
ROU assets, net of amortization$188$172
Lease liabilities240198
Finance leases
ROU assets, net of amortization33
Lease liabilities44
Weighted average remaining lease term (years)
Operating leases9.98.7
Finance leases15.616.5
Weighted average discount rate
Operating leases3.8 %3.4 %
Finance leases3.1 %3.1 %
The following schedule presents additional information related to lease expense:
Year Ended December 31,
(In millions)202420232022
Lease expense:
Operating lease expense$40 $43 $46 
Other expenses associated with operating leases 1
62 60 51 
Total lease expense$102 $103 $97 
Related cash disbursements for operating leases$43 $49 $50 
1 Other expenses primarily include property taxes and building and property maintenance.
The following schedule presents the total contractual undiscounted lease payments for operating lease liabilities by expected due date for each of the next five years:
(In millions)Total undiscounted lease payments
2025$40 
202636 
202727 
202828 
202925 
Thereafter140 
Total lease payments296 
Less imputed interest56 
Total$240 
We enter into certain lease agreements where we are the lessor of real estate. These leases involve bank-owned and subleased properties to generate cash flow, including leasing vacant suites within buildings we partially occupy. Operating lease income totaled $13 million in 2024, and $14 million in both 2023 and 2022.
We originated equipment leases, classified as sales-type leases or direct-financing leases, totaling $377 million and $383 million at December 31, 2024 and 2023, respectively. We recorded income of $18 million, $16 million, and $12 million from these leases during 2024, 2023, and 2022, respectively.
v3.25.0.1
PREMISES, EQUIPMENT AND SOFTWARE
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PREMISES, EQUIPMENT AND SOFTWARE PREMISES, EQUIPMENT, AND SOFTWARE
Premises, equipment, and software are reported at cost, net of accumulated depreciation and amortization. Depreciation, primarily calculated using the straight-line method, is allocated to operations over the estimated useful lives of the assets: generally 25 to 40 years for buildings, three to 10 years for furniture and equipment, and three to 10 years for software, including capitalized costs related to technology initiatives. Leasehold improvements are amortized over the shorter of the lease term (including any reasonably certain extension options) or the estimated useful lives of the improvements. Premises, equipment, and software are periodically evaluated for impairment.
The following schedule presents the components of our premises, equipment, and software, including the accumulated depreciation and amortization:
(In millions)December 31,
20242023
Land$284 $269 
Buildings980 959 
Furniture and equipment337 336 
Leasehold improvements139 137 
Software585 749 
Total premises, equipment, and software 1
2,325 2,450 
Less accumulated depreciation and amortization959 1,050 
Net book value$1,366 $1,400 
1 The totals for 2024 and 2023 include $51 million and $40 million, respectively, of capitalized costs that are not yet depreciating, as the respective assets have not been placed in service.
v3.25.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill is recorded upon the completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. We perform an evaluation annually as of October 1, or more frequently if events or circumstances indicate that the carrying value exceeds fair value. We may elect to perform a qualitative analysis to determine if it is more likely than not that the fair value of our reporting unit is less than its carrying amount. If the carrying amount is more likely than not to exceed its fair value, additional quantitative analysis is performed to determine the amount of goodwill impairment. If the fair value is less than the carrying value, an impairment is recorded for the difference. During the fourth quarter of 2024, we performed our annual goodwill impairment evaluation utilizing a qualitative analysis. During the fourth quarter of 2023, we performed a full quantitative analysis. Based on our evaluations conducted in 2024 and 2023, the goodwill at our reporting units was not impaired.
The following schedule presents the carrying amount of goodwill for our business segments with goodwill, as well as the balance of our core deposits and other intangible assets, net of related accumulated amortization:
December 31,
(In millions)20242023
Goodwill:
Amegy$615 $615 
CB&T379 379 
Zions Bank20 20 
Nevada State Bank13 13 
Total goodwill1,027 1,027 
Core deposits and other intangibles, net of accumulated amortization25 32 
Total goodwill and intangibles$1,052 $1,059 
v3.25.0.1
DEPOSITS
 12 Months Ended
Dec. 31, 2024
Deposits [Abstract]  
DEPOSITS DEPOSITS
The following schedule presents the composition of our deposits:
December 31,
(Dollar amounts in millions)20242023
Noninterest-bearing demand$24,704 $26,244 
Interest-bearing:
Savings and money market40,037 38,721 
Time11,482 9,996 
Total deposits$76,223 $74,961 
The following schedule presents the aggregate amount of all time deposits by maturity at December 31, 2024:
(In millions)December 31, 2024
2025$11,327 
202688 
202729 
202818 
202919 
Thereafter1 
Total$11,482 
The following schedule presents the amount of time deposits that exceed $250,000 by scheduled maturity at December 31, 2024:
(In millions)December 31, 2024
Three months or less$1,287 
After three months through six months1,160 
After six months through twelve months391 
After twelve months47 
Total$2,885 
Deposit overdrafts reclassified as loans totaled $8 million and $11 million at December 31, 2024 and 2023, respectively.
v3.25.0.1
SHORT-TERM BORROWINGS
 12 Months Ended
Dec. 31, 2024
Short-Term Debt [Abstract]  
SHORT-TERM BORROWINGS SHORT-TERM BORROWINGS
The following schedule presents selected information for FHLB advances and other short-term borrowings:
(Dollar amounts in millions)20242023
Federal Home Loan Bank advances
Average amount outstanding$1,665 $4,208 
Average rate4.89 %5.73 %
Highest month-end balance$2,525 $11,525 
Year-end balance2,525 1,525 
Average rate on outstanding advances at year-end4.78 %5.59 %
Other short-term borrowings, year-end balances
Federal funds purchased$108 $597 
Security repurchase agreements764 1,814 
Securities sold, not yet purchased20 65 
Swap margin collateral received 415 378 
Total federal funds and other short-term borrowings$3,832 $4,379 
We pledge loans and investment securities as collateral for current and potential borrowings. We may borrow from the FHLB under lines of credit secured by blanket pledge arrangements. We maintain collateral with carrying amounts adjusted for the types of collateral pledged, ensuring they equal at least 100% of the outstanding advances. Additionally, we may borrow from the Federal Reserve Board (“FRB”) based on the amount of collateral pledged.
A significant portion of these pledged assets are unencumbered, but are pledged to provide immediate access to contingency sources of funds. At December 31, 2024, our remaining FHLB and FRB collateralized borrowing capacity was $12.0 billion and $17.7 billion, respectively, compared with $15.0 billion and $9.8 billion at December 31, 2023.
Federal funds purchased and security repurchase agreements generally mature in less than 30 days. We execute overnight repurchase agreements with sweep accounts in conjunction with a master repurchase agreement. In such cases, securities under our control are pledged, and interest is paid on the collected balance of the customers’ accounts. For nonsweep overnight and term repurchase agreements, securities are transferred to the applicable counterparty. In certain instances, the counterparty is contractually entitled to sell or repledge securities accepted as collateral. At December 31, 2024, nearly all security repurchase agreements were overnight term accounts.
v3.25.0.1
LONG-TERM DEBT
 12 Months Ended
Dec. 31, 2024
Long-Term Debt, Unclassified [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The following schedule presents the components of our long-term debt:
December 31,
(In millions)20242023
Subordinated notes$946 $538 
Finance lease obligations4 4 
Total$950 $542 
Long-term debt carrying values include the par value of the debt, adjusted for any unamortized premium or discount, unamortized debt issuance costs, and fair value hedge basis adjustments. The increase in long-term debt from the prior year was primarily due to the issuance of $500 million of 6.82% Fixed-to-Floating Subordinated Notes due 2035, partially offset by the redemption of $88 million of 6.95% Fixed-to-Floating Subordinated Notes due 2028, during the fourth quarter of 2024.
During the fourth quarter of 2024, we entered into a receive-fixed interest rate swap designated as a hedge of the $500 million subordinated notes maturing in November 2035. In 2023, we terminated a receive-fixed interest rate swap designated as a hedge of the $500 million subordinated notes maturing in October 2029. The remaining unamortized hedge basis adjustment from the terminated hedging relationship is amortized into earnings through the
contractual maturity date of the hedged notes. The carrying values include any unamortized hedge basis adjustments. See Note 7 for more information on derivatives designated as qualifying hedges.
Subordinated Notes
The following schedule presents our subordinated notes outstanding at December 31, 2024:
(Dollar amounts in millions)Subordinated notes
Coupon rateCarrying valuePar amountMaturity
3.25%$458 $500 October 2029
6.82%488 500 November 2035
Total$946 $1,000 
The 3.25% subordinated notes are unsecured, interest is payable semi-annually, and the earliest redemption date is July 29, 2029. The 6.82% subordinated notes are unsecured, with interest payable semi-annually during the fixed-rate period; the earliest redemption date for these notes is November 19, 2034, after which the interest rate changes to an annual floating rate equal to compounded SOFR + 2.83%, payable quarterly.
Maturities of Long-term Debt
The following schedule presents the carrying value of our long-term debt by maturity for each of the next five years:
December 31, 2024
(In millions)20252026202720282029ThereafterTotal
Subordinated notes$— $— $— $— $458 $488 $946 
Finance lease obligations— — — — — 4 4 
Total$— $— $— $— $458 $492 $950 
v3.25.0.1
SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS’ EQUITY
Preferred Stock
We have 4.4 million authorized shares of preferred stock without par value, each with a liquidation preference of $1,000 per share, or $25 per depositary share. Except for Series I and J, all preferred shares were issued in the form of depositary shares, with each depositary share representing a 1/40th ownership interest in a share of the preferred stock. All outstanding preferred shares are registered with the Securities and Exchange Commission (“SEC”). Additionally, Series A preferred shares are listed and traded on the National Association of Securities Dealers Automated Quotations (“NASDAQ”) Global Select Market.
Preferred shareholders generally receive asset distributions before common shareholders; however, they have only limited voting rights. Preferred stock dividends reduce earnings applicable to common shareholders and are paid on the 15th day of the months indicated in the following schedule, subject to Board approval.
The preferred shares are redeemable at our option after the expiration of any applicable redemption restrictions. The redemption amount is calculated at the per share liquidation preference plus any declared but unpaid dividends. Redemptions are subject to certain regulatory provisions, including satisfying well-capitalized minimum requirements.
The following schedule presents the components of our preferred stock:
(Dollar amounts in millions)Carrying value at
December 31,		Shares at
December 31, 2024		Dividends payableEarliest
redemption date
20242023AuthorizedOutstandingRate
Series A$66 $66 140,000 66,139 
> of 4.0% or
3M Term SOFR + 0.78%
Qtrly Mar, Jun, Sep, Dec Dec 15, 2011
Series G— 139 200,000 — 
annual floating rate =
3M Term SOFR + 4.50%
Qtrly Mar, Jun, Sep, Dec N/A
Series I— 99 300,893 — 
annual floating rate =
3M Term SOFR + 4.06%
Qtrly Mar, Jun, Sep, DecN/A
Series J— 136 195,152 — 
annual floating rate =
3M Term SOFR + 4.70%
Qtrly Mar, Jun, Sep, DecN/A
Total$66 $440 
Preferred Stock Redemption
In December 2024, we fully redeemed the outstanding shares of our Series G, I, and J preferred stock. The redemption resulted in a one-time reduction to net earnings applicable to common shareholders of approximately $6 million, arising from the recognition of capitalized preferred stock issuance costs. At December 31, 2024, 66,139 shares of Series A preferred stock were outstanding. At December 31, 2023, 66,139, 138,390, 98,555, and 136,368 of preferred shares series A, G, I, and J respectively, were outstanding.
Common Stock
Our common stock is traded on the NASDAQ Global Select Market. At December 31, 2024, we had 147.9 million shares of $0.001 par common stock outstanding. The balance of common stock and additional paid-in-capital was $1.7 billion at December 31, 2024, and increased $6 million, or less than 1%, from the prior year.
During the first quarter of 2024, we repurchased 0.9 million common shares outstanding for $35 million at an average price of $39.32 per share. We did not repurchase common shares during the second, third, or fourth quarters of 2024. In 2023, we repurchased 0.9 million common shares outstanding for $50 million at an average price of $52.82. These repurchased amounts do not include certain insignificant balances related to the common shares acquired in connection with our stock compensation plan, which were acquired from employees to cover their payroll taxes and stock option exercise costs upon the exercise of stock options.
In February 2025, we received the necessary approvals to repurchase up to $40 million of common shares outstanding during the fiscal year 2025.
Accumulated Other Comprehensive Income
The AOCI balance was a loss of $2.4 billion at December 31, 2024, an improvement of $312 million when compared with December 31, 2023, and largely reflects a decline in the fair value of fixed-rate AFS securities as a result of changes in interest rates.
The following schedule presents the changes in AOCI:
(In millions)
Net unrealized gains (losses) on investment securitiesNet unrealized gains (losses) on derivatives and otherPension and post-retirementTotal
2024
Balance at December 31, 2023$(2,526)$(165)$(1)$(2,692)
Other comprehensive income before reclassifications, net of tax
31 (2)— 29 
Amounts reclassified from AOCI, net of tax194 89 — 283 
Other comprehensive income225 87 — 312 
Balance at December 31, 2024$(2,301)$(78)$(1)$(2,380)
Income tax expense included in other comprehensive income
$74 $28 $— $102 
2023
Balance at December 31, 2022$(2,800)$(311)$(1)$(3,112)
Other comprehensive income before reclassifications, net of tax
66 22 — 88 
Amounts reclassified from AOCI, net of tax208 124 — 332 
Other comprehensive income 274 146 — 420 
Balance at December 31, 2023$(2,526)$(165)$(1)$(2,692)
Income tax expense included in other comprehensive income
$90 $47 $— $137 
(In millions)
Amounts reclassified from AOCI
Affected line item
 on statement of income
AOCI components202420232022
Net unrealized losses on investment securities$(257)$(276)$(53)Securities gains (losses), net
Less: Income tax expense benefit(63)(68)(13)
$(194)$(208)$(40)
Net unrealized losses on derivative instruments
$(118)$(165)$(27)Interest and fees on loans; Interest on short- and long-term borrowings
Less: Income tax benefit(29)(41)(6)
$(89)$(124)$(21)
Deferred Compensation
Deferred compensation consists of invested assets, including our common stock, held in rabbi trusts for certain employees and directors. The fair value of our common stock was approximately $19 million at both December 31, 2024 and 2023. We consolidate the rabbi trust assets and liabilities and include them in “Other assets” and “Other liabilities” on the consolidated balance sheet, respectively. At December 31, 2024 and 2023, associated trust assets totaled approximately $149 million and $124 million, and trust liabilities totaled approximately $168 million and $143 million, respectively.
v3.25.0.1
REGULATORY MATTERS
 12 Months Ended
Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
REGULATORY MATTERS REGULATORY MATTERS
We are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet these minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that could materially impact our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must adhere to specific capital guidelines involving quantitative measures of our assets, liabilities, and certain off-balance sheet items, as calculated under regulatory accounting practices. At December 31, 2024 and 2023, we exceeded all capital adequacy requirements under the Basel III capital rules.
Regulatory measures for capital adequacy require us to maintain minimum amounts and ratios of common equity Tier 1 (“CET1”) to risk-weighted assets, Tier 1 capital (as defined in the regulations), total capital, and Tier 1 capital to average assets (Tier 1 leverage ratio). “Well-capitalized” levels are also published as benchmarks for
evaluating capital positions. At December 31, 2024 and 2023, all of our capital amounts and ratios exceeded the “well-capitalized” levels under the regulatory framework for prompt corrective action.
Dividends declared by us may not exceed specified criteria unless otherwise approved by our regulators. When determining dividends, we consider current and historical earnings levels, retained earnings, and risk-based and other regulatory capital requirements and limitations.
Our internal stress tests seek to comprehensively measure all risks to which we are exposed, the potential losses from those risk exposures under adverse scenarios, and our resulting capital levels. These stress tests subject our balance sheet and other risk characteristics to thorough analysis using our own models.
The following schedule presents our capital amounts and ratios and the minimum requirements to be well capitalized under Basel III at December 31, 2024 and 2023:
(Dollar amounts in millions)December 31, 2024
Minimum requirement to be “well capitalized”
AmountRatioAmountRatio
Basel III Regulatory Capital Amounts and Ratios
Common equity Tier 1 capital (to risk-weighted assets)$7,363 10.9 %$4,400 6.5 %
Tier 1 risk-based capital (to risk-weighted assets)7,430 11.0 5,415 8.0 
Total risk-based capital (to risk-weighted assets)9,026 13.3 6,769 10.0 
Tier 1 leverage ratio7,430 8.3 4,454 5.0 
December 31, 2023
Minimum requirement to be “well capitalized”
(Dollar amounts in millions)AmountRatioAmountRatio
Basel III Regulatory Capital Amounts and Ratios
Common equity Tier 1 capital (to risk-weighted assets)$6,863 10.3 %$4,351 6.5 %
Tier 1 risk-based capital (to risk-weighted assets)7,303 10.9 5,355 8.0 
Total risk-based capital (to risk-weighted assets)8,553 12.8 6,693 10.0 
Tier 1 leverage ratio7,303 8.3 4,379 5.0 
The Basel III capital rules require us to maintain certain minimum capital ratios, as well as a 2.5% “capital conservation buffer,” designed to absorb losses during periods of economic stress. This buffer is composed entirely of CET1. The following schedule presents the minimum capital ratios and capital conservation buffer requirements, compared with our capital ratios at December 31, 2024:
December 31, 2024
Minimum capital requirementCapital conservation bufferMinimum capital ratio requirement with capital conservation bufferCurrent capital
ratio
CET1 to risk-weighted assets4.5%2.5%7.0%10.9%
Tier 1 risk-based capital
(i.e., CET1 plus additional Tier 1 capital) to risk-weighted assets
6.0%2.5%8.5%11.0%
Total risk-based capital
(i.e., Tier 1 capital plus Tier 2 capital) to risk-weighted assets
8.0%2.5%10.5%13.3%
Tier 1 leverage ratio
(i.e., Tier 1 risk-based capital) to average consolidated assets		4.0%N/A4.0%8.3%
Financial institutions with a CET1 to risk-weighted assets ratio above the minimum, but below the capital conservation buffer, face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall. Our internal triggers and limits, both under actual conditions and baseline projections, are more stringent than the capital conservation buffer requirements.
v3.25.0.1
COMMITMENTS, GUARANTEES, CONTINGENT LIABILITIES, AND RELATED PARTIES
 12 Months Ended
Dec. 31, 2024
Guarantees, Commitments And Contingencies [Abstract]  
COMMITMENTS, GUARANTEES, CONTINGENT LIABILITIES, AND RELATED PARTIES COMMITMENTS, GUARANTEES, CONTINGENT LIABILITIES, AND RELATED PARTIES
Commitments and Guarantees
We utilize various financial instruments, including loan commitments, commercial letters of credit, and standby letters of credit, to meet our customers’ financing needs. They involve varying degrees of credit, liquidity, and interest rate risk beyond the amounts presented on the consolidated balance sheet. The credit risk associated with these commitments is assessed similarly to the ALLL. The RULC is presented separately on the consolidated balance sheet.
The following schedule presents the contractual amounts related to off-balance sheet financial instruments used to meet our customers’ financing needs:
December 31,
(In millions)20242023
Unfunded lending commitments 1
$28,767 $28,940 
Standby letters of credit:
Financial574 548 
Performance262 206 
Commercial letters of credit15 22 
Mortgage-backed security purchase agreements 2
— 66 
Total unfunded commitments$29,618 $29,782 
1 Net of participations.
2 Represents agreements with Farmer Mac to purchase securities backed by certain agricultural mortgage loans.
Loan commitments are agreements to lend to a customer subject to specified conditions. These commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on our initial credit evaluation of the counterparty. Types of collateral vary and may include accounts receivable, inventory, property, plant and equipment, and income-producing properties.
While making loan commitments exposes us to credit risk, a significant portion of such commitments is expected to expire without being drawn upon. At December 31, 2024, we had $8.2 billion of commitments scheduled to expire in 2025. We apply the same credit policies and procedures to loan commitments and conditional obligations as we do for on-balance sheet instruments, including credit approvals, limits, and ongoing monitoring.
We issue standby and commercial letters of credit as conditional commitments to guarantee a customer's performance to a third party. These guarantees primarily support public and private borrowing arrangements, such as commercial paper, bond financing, and similar transactions. At December 31, 2024, standby letters of credit totaled $836 million, and are set to expire in 2025. The credit risk involved in issuing letters of credit is equivalent to that of extending credit to customers, and we generally hold marketable securities and cash equivalents as collateral.
Certain mortgage loans sold have limited recourse provisions for periods ranging from three months to one year. The losses resulting from the exercise of these provisions have not been significant.
Legal Matters
We are involved in various legal proceedings or governmental inquiries, which may include litigation in court, arbitral proceedings, investigations, examinations, and other actions initiated or considered by governmental and self-regulatory agencies. Litigation may pertain to lending, deposit and other customer relationships, supplier and contractual issues, employee matters, intellectual property matters, personal injuries and torts, regulatory and legal compliance, and other matters. While most matters involve individual claims, we are also subject to putative class action claims and similar broader claims. Proceedings, investigations, examinations, and other actions initiated or considered by governmental and self-regulatory agencies may relate to our banking, investment advisory, trust, securities, and other products and services; our customers’ involvement in money laundering, fraud, securities
violations and other illicit activities or our policies and practices concerning such customer activities. Additionally, these actions may pertain to our compliance with the broad range of banking, securities and other applicable laws and regulations. At any given time, we may be responding to subpoenas, requests for documents, data, and testimony relating to these matters and engaging in discussions to resolve them.
At December 31, 2024, we were subject to the following material litigation:
•Two civil cases, Lifescan Inc. and Johnson & Johnson Health Care Services v. Jeffrey C. Smith, et. al., brought against us in the United States District Court for the District of New Jersey in December 2017, and Roche Diagnostics and Roche Diabetes Care Inc. v. Jeffrey C. Smith, et. al., brought against us in the United States District Court for the District of New Jersey in March 2019. In these cases, certain manufacturers and distributors of medical products seek to hold us liable for allegedly fraudulent practices of a borrower of the Bank who filed for bankruptcy protection in 2017. During 2024, discovery was substantially completed for most parties in both cases. However, rulings on certain dispositive motions remain outstanding, and other dispositive motions have yet to be filed or ruled upon. No trial dates have been set for either case.
•In the matter of Streck and Ariza v. Zions Bancorporation, N.A., an arbitration matter pending before the American Arbitration Association, related to an employment dispute brought by two former employees alleging damages arising from claims of alleged gender discrimination, retaliation, and constructive discharge. The case is in the final hearing phase.
At least quarterly, we review both outstanding and new legal matters utilizing the latest information available. If we determine that a loss from a matter is probable and can be reasonably estimated, we establish an accrual for the best estimate of the loss. If no amount within a range of probable losses is a better estimate than any other amount within the range, we establish an accrual for the minimum amount in that range. For matters where a loss is not probable, we do not establish an accrual. Once established, accruals are adjusted to reflect any developments related to the matters.
In our review, we also assess whether we can determine the range of reasonably possible losses for significant matters where the likelihood of a loss is not remote. Due to the difficulty of predicting the outcome of legal matters, discussed subsequently, we can meaningfully estimate such a range for only a limited number of cases. Based on information available at December 31, 2024, we estimated that the aggregate range of reasonably possible losses for these matters is between zero and approximately $10 million in excess of amounts accrued. The matters underlying this estimated range will change over time, and actual results may vary significantly from this estimate. Matters for which a meaningful estimate is not possible are not included within this estimated range; therefore, this estimated range does not represent our maximum loss exposure.
Based on our current knowledge, we believe that our estimated liability for litigation and other legal actions and claims, as reflected in our accruals and determined in accordance with applicable accounting guidance, is adequate. We also believe that any liabilities in excess of the amounts currently accrued, if any, arising from litigation and other legal actions and claims for which an estimate is possible, will not have a material impact on our financial condition, results of operations, or cash flows. However, given the significant uncertainties involved in these matters, and the potentially large or indeterminate damages sought in some cases, an adverse outcome in one or more of these matters could materially affect our financial condition, results of operations, or cash flows for any given reporting period.
Any estimate or determination regarding the future resolution of litigation, arbitration, governmental or self-regulatory examinations, investigations, or similar matters is inherently uncertain and involves significant judgment. This is particularly true in the early stages of a legal matter, when legal issues and facts have not been fully articulated, reviewed, analyzed, and vetted through discovery, trial or hearing preparation, substantive and productive mediation or settlement discussions, or other actions. It is also especially true for class actions and similar claims involving multiple defendants, matters with complex procedural requirements or substantive issues, novel legal theories, and examinations, investigations, and other actions conducted or brought by governmental and self-regulatory agencies, where the normal adjudicative process is not applicable. As a result, we are often unable to
determine whether a favorable or unfavorable outcome is remote, reasonably likely, or probable, or to estimate the amount or range of a probable or reasonably likely loss, until relatively late in the course of a legal matter, sometimes not until a number of years have elapsed. Consequently, our judgments and estimates relating to claims will change over time in light of developments, and actual outcomes will differ from our estimates. These differences may be material.
Related Party Transactions
We have no material related party transactions requiring disclosure. In the ordinary course of business, we extend credit to related parties, including executive officers, directors, principal shareholders, and their associates and related interests. These related party loans are made in compliance with applicable banking regulations.
v3.25.0.1
REVENUE RECOGNITION
 12 Months Ended
Dec. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]  
REVENUE RECOGNITION REVENUE FROM CONTRACTS WITH CUSTOMERS
Noninterest income and revenue from contracts with customers are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The incremental cost of obtaining a contract is recorded as an expense when incurred, provided the amortization period of the related asset is one year or less. For performance obligations satisfied over time, if we have the right to consideration from a customer that corresponds directly with the value of our performance completed to date, we generally recognize revenue in the amount to which we have the right to invoice. We generally do not disclose information about our remaining performance obligations for those obligations with an original expected duration of one year or less, or where revenue is recognized in the amount to which we have a right to invoice.
The following describes our revenue from contracts with customers:
Commercial Account Fees
Commercial account fee income consists primarily of account analysis fees, merchant fees, and payroll services income. Revenue is recognized as the services are rendered or upon their completion.
Card Fees
Card fee income primarily includes interchange fees from credit and debit cards, net fees earned from processing card transactions for merchants, and automated teller machine (“ATM”) services. Revenue from card fees is recognized as it is earned.
Retail and Business Banking Fees
Retail and business banking fees generally consist of fees for providing customers with deposit services. These fees primarily include insufficient funds fees, noncustomer ATM charges, and various other fees on deposit accounts. Service charges on deposit accounts include fees earned in lieu of compensating balances, as well as fees for performing cash management and other deposit account services. These service charges are recognized over the period in which the related service is provided. Treasury management fees are billed monthly based on services rendered during the month.
Capital Markets Fees
Capital markets fees primarily include fees associated with municipal advisory, securities underwriting, and investment banking advisory services provided to customers. Revenue is recognized either as the services are rendered or upon their completion.
Wealth Management Fees
Wealth management fees primarily consist of wealth management commissions, along with other portfolio and advisory services. Revenue is recognized as the services are rendered or upon their completion. Financial planning, fiduciary, and estate services generally have performance obligations extending beyond 12 months, although the amount of future performance obligations is not significant.
Other Customer-related Fees
Other customer-related fees generally include miscellaneous income sources, including fees associated with compliance and support services to pharmacies and healthcare providers, corporate trust fees, other advisory and referral fees, and fees for claims and inventory management services for certain customers. Revenue is recognized as the services are rendered or upon their completion.
Disaggregation of Revenue
The following schedule presents revenue from contracts with customers and provides a reconciliation to total noninterest income by operating business segment. Customer-related noninterest income from other sources represents revenue from customers that falls outside the scope of the applicable accounting guidance for revenue from contracts with customers.
Zions BankCB&TAmegy
(In millions)202420232022202420232022202420232022
Commercial account fees
$57 $55 $53 $31 $32 $28 $59 $56 $46 
Card fees 1
50 52 55 19 21 20 31 31 33 
Retail and business banking fees
19 19 22 11 11 12 14 14 16 
Capital markets fees 2
1 — — 1 — — 3 — — 
Wealth management fees21 23 22 4 4 4 18 17 15 
Other customer-related fees9 8 8 8 7 6 6 7 7 
Total noninterest income from contracts with customers
157 157 160 74 75 70 131 125 117 
Customer-related noninterest income from other sources
24 24 19 39 35 34 34 37 40 
Total customer-related noninterest income
181 181 179 113 110 104 165 162 157 
Noncustomer-related noninterest income
6 11 5 8 6 4 10 22 1 
Total noninterest income
$187 $192 $184 $121 $116 $108 $175 $184 $158 
NBAZNSBVectra
(In millions)202420232022202420232022202420232022
Commercial account fees
$11 $10 $9 $13 $12 $11 $7 $7 $8 
Card fees 1
15 15 15 16 16 15 10 9 9 
Retail and business banking fees
9 8 9 10 10 10 3 4 4 
Capital markets fees 2
— — — — — — — — — 
Wealth management fees3 3 3 6 5 5 2 1 1 
Other customer-related fees1 1 2 1 1 1 5 4 3 
Total noninterest income from contracts with customers
39 37 38 46 44 42 27 25 25 
Customer-related noninterest income from other sources
4 2 8 2 1 6 2 3 6 
Total customer-related noninterest income
43 39 46 48 45 48 29 28 31 
Noncustomer-related noninterest income
— 1 2 4 — — — — — 
Total noninterest income
$43 $40 $48 $52 $45 $48 $29 $28 $31 
TCBWOtherConsolidated Bank
(In millions)202420232022202420232022202420232022
Commercial account fees
$2 $2 $2 $2 $— $2 $182 $174 $159 
Card fees 1
2 2 2 1 — — 144 146 149 
Retail and business banking fees
1 — — — — — 67 66 73 
Capital markets fees 2
— — — 6 4 4 11 4 4 
Wealth management fees— 1 — — (1)1 54 53 51 
Other customer-related fees1 1 1 24 31 31 55 60 59 
Total noninterest income from contracts with customers
6 6 5 33 34 38 513 503 495 
Customer-related noninterest income from other sources
2 1 2 19 14 4 126 117 119 
Total customer-related noninterest income
8 7 7 52 48 42 639 620 614 
Noncustomer-related noninterest income
— — — 33 17 6 61 57 18 
Total noninterest income
$8 $7 $7 $85 $65 $48 $700 $677 $632 
1 Card fees exclude costs associated with reward programs that are netted against interchange fees, as these costs are not within the scope of applicable accounting guidance for revenue from contracts with customers.
2 Capital markets fees exclude revenue associated with real estate capital markets, swaps, loan syndications, and foreign exchange activities, as the related fees are not within the scope of applicable accounting guidance for revenue from contracts with customers.
Revenue from contracts with customers did not result in significant contract assets and liabilities. Contract receivables are included in “Other assets” on the consolidated balance sheet. Payment terms vary by services offered, and the timing between the completion of performance obligations and payment is generally not significant.
v3.25.0.1
RETIREMENT PLANS
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
RETIREMENT PLANS RETIREMENT PLANS
Defined Contribution Plan
We offer a 401(k) and employee stock ownership plan under which employees select from a number of investment alternatives. Employees can contribute up to 80% of their earnings subject to the annual maximum allowed contribution. We match 100% of the first 3% of employee contributions and 50% of the next 3% of employee contributions. Matching contributions to participants totaled $35 million in 2024 and 2023, and $33 million in 2022.
The 401(k) plan also has a noncontributory profit-sharing feature that is discretionary and may range from 0% to 3.5% of eligible compensation based upon our performance according to a formula approved annually by the Board. The profit-sharing expense was $14 million, $16 million, and $19 million in 2024, 2023, and 2022, respectively. The profit-sharing contribution to participants consisted of shares of our common stock purchased in the open market.
Defined Benefit Plans
Supplemental Retirement Plans — These unfunded, nonqualified plans are for certain current and former employees. Each year, our contributions to these plans are made in amounts sufficient to meet benefit payments to plan participants. Our liability for these plans totaled approximately $9 million at both December 31, 2024 and 2023.
Post-retirement Plan — This unfunded health care and life insurance plan provides post-retirement benefits to certain former full-time employees who meet minimum age and service requirements. Our contribution toward the retiree medical premium has been permanently frozen at an amount that does not increase in any future year. Each year, our contributions to the plan are made in amounts sufficient to meet the portion of the premiums that are our responsibility. Our liability for this plan was less than $1 million at both December 31, 2024 and 2023.
The liability for supplemental retirement and post-retirement benefits is included in “Other liabilities” on the consolidated balance sheet.
v3.25.0.1
SHARE-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
We maintain a share-based compensation incentive plan that permits the granting of stock options, restricted stock, restricted stock units (“RSUs”), and other awards to employees and nonemployee directors. At December 31, 2024, the total shares authorized under the plan were 4,300,000, with 1,965,994 available for future grants.
All share-based payments to employees, including grants of employee stock options, are recorded as compensation expense based on their grant date values, taking into account service and performance vesting requirements. The value of an equity award is estimated on the grant date using a fair value model, which considers post-vesting restrictions, but does not account for service or performance vesting conditions.
We classify all share-based awards as equity instruments. Compensation expense is included in “Salaries and employee benefits” on the consolidated statement of income, with the corresponding equity effect included in shareholders’ equity. Forfeitures of share-based compensation awards are accounted for as they occur. Substantially all share-based awards, including stock options, restricted stock, and RSUs, feature graded vesting, which is recognized on a straight-line basis over the vesting period.
The following schedule presents compensation expense and the related tax benefit for all share-based awards:
(In millions)202420232022
Compensation expense$31 $33 $30 
Reduction of income tax expense7 9 11 
At December 31, 2024, the unrecognized compensation expense for nonvested share-based awards was approximately $35 million. This amount is expected to be recognized over a weighted average period of 2.4 years.
Stock Options
Stock options granted to employees generally vest at a rate of one-third per year and expire seven years after the grant date. No stock options were granted in 2024. For stock options granted in 2023 and 2022, the Black-Scholes option pricing model was used to estimate the grant date value for determining compensation expense.
The following schedule presents the weighted average grant date value and the significant assumptions applied in the Black-Scholes model for these options:
202420232022
Weighted average value for options granted$— $11.23 $15.16 
Weighted average assumptions used:
Expected dividend yield— %3.0 %2.3 %
Expected volatility— %27.0 %27.0 %
Risk-free interest rate— %4.00 %1.98 %
Expected life (in years)0.04.55.0
The assumptions for expected dividend yield, expected volatility, and expected life reflect management’s judgment and take into account historical experience. Expected volatility is partially based on historical volatility. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant, corresponding to the expected life of the option.
The following schedule presents our stock option activity for the three years ended December 31, 2024:
Number of sharesWeighted average exercise price
Balance at December 31, 20211,328,144 $44.60 
Granted201,932 73.02 
Exercised(256,004)36.79 
Expired(8,912)37.58 
Forfeited(2,794)57.75 
Balance at December 31, 20221,262,366 50.75 
Granted291,005 52.90 
Exercised(95,207)29.67 
Expired(27,948)35.41 
Forfeited(9,838)57.07 
Balance at December 31, 20231,420,378 52.83 
Granted— — 
Exercised(191,602)50.05 
Expired(103,008)46.84 
Forfeited(2,112)56.94 
Balance at December 31, 20241,123,656 53.85 
Outstanding stock options exercisable as of:
December 31, 2024869,716 52.61 
December 31, 2023891,884 50.36 
December 31, 2022729,411 46.02 
We issue new authorized common shares upon the exercise of stock options. The total intrinsic value of stock options exercised was approximately $2 million in both 2024 and 2023, and $7 million in 2022. Cash received from the exercise of stock options totaled $9 million in 2024, $2 million in 2023, and $8 million in 2022.
The following schedule presents additional selected information on stock options at December 31, 2024:
Outstanding stock optionsExercisable stock options
 Exercise price range Number of sharesWeighted average exercise priceWeighted average remaining contractual life (years) Number of sharesWeighted average exercise price
$4.15 to $19.99
5,223 $6.41 
1
05,223 $6.41 
$40.00 to $44.99
1,974 43.07 1.41,974 43.07 
$45.00 to $49.99
440,807 47.33 2.6440,807 47.33 
$50.00 to $59.99
481,220 52.56 3.2292,172 52.34 
$60.00 to $73.22
194,432 73.19 4.0129,540 73.19 
1,123,656 53.85 
1
3.1869,716 52.61 
1 The weighted average remaining contractual life excludes 5,223 stock options without a fixed expiration date, which were assumed during the Amegy acquisition. These options expire one year after the employee's termination date, depending on certain circumstances.
The aggregate intrinsic value of outstanding stock options was $4 million at December 31, 2024, and less than $1 million at December 31, 2023. Similarly, the aggregate intrinsic value of exercisable options was $4 million and less than $1 million at the same respective dates. For exercisable options, the weighted average remaining contractual life was 2.6 years at December 31, 2024, and 2.7 years at December 31, 2023, excluding the stock options previously noted without a fixed expiration date. At December 31, 2024, there were 253,940 unvested stock options outstanding, with a weighted average exercise price of $58.08, a weighted average remaining life of 4.7 years, and an aggregate intrinsic value of $255 thousand.
Restricted Stock and Restricted Stock Units
Restricted stock is common stock that carries certain restrictions related to trading and the potential for forfeiture. Typically, restricted stock vests over a four-year period. Holders of restricted stock possess full voting rights and receive dividend equivalents during the vesting period. Additionally, holders can elect to be subject to income tax on the grant date rather than the vesting date.
RSUs represent the right to receive one share of common stock per unit and generally vest over a four-year period. Holders of RSUs receive dividend equivalents during the vesting period, but do not possess voting rights. Compensation expense is determined based on the number of restricted shares or RSUs granted and the market price of our common stock at the grant date. During 2024, 2023, and 2022, we granted 25,866, 39,771, and 16,722 RSUs, respectively, to nonemployee directors. These RSUs vested immediately upon grant.
The following schedule presents our restricted stock activity for the three years ended December 31, 2024:
Number of sharesWeighted average fair value
Nonvested restricted shares at December 31, 202164,816 $42.26 
Issued21,038 60.21 
Vested(25,105)42.66 
Nonvested restricted shares at December 31, 202260,749 48.31 
Issued— — 
Vested(24,978)46.31 
Nonvested restricted shares at December 31, 202335,771 49.71 
Issued49,019 41.24 
Vested(18,731)47.48 
Nonvested restricted shares at December 31, 202466,059 44.06 
The following schedule presents our RSU activity for the three years ended December 31, 2024:
Number of restricted stock unitsWeighted average fair value
Restricted stock units at December 31, 20211,274,083 $46.49 
Granted433,674 68.07 
Vested(504,358)47.83 
Forfeited(34,306)56.58 
Restricted stock units at December 31, 20221,169,093 53.62 
Granted727,019 48.85 
Vested(522,163)48.71 
Forfeited(44,004)56.19 
Restricted stock units at December 31, 20231,329,945 52.88 
Granted872,274 39.53 
Vested(544,095)50.55 
Forfeited(34,621)48.78 
Restricted stock units at December 31, 20241,623,503 46.57 
The total grant date value of restricted stock and RSUs vested during the year was $28 million in 2024, $27 million in 2023, and $25 million in 2022. At December 31, 2024, 66,059 shares of restricted stock and 1,108,442 RSUs were expected to vest according to their respective schedules, with an aggregate intrinsic value of $4 million and $60 million, respectively.
v3.25.0.1
INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The following schedule presents the major components of our income tax expense:
(In millions)202420232022
Federal:
Current$194 $168 $236 
Deferred(9)— (38)
Total federal185 168 198 
State:
Current41 47 52 
Deferred2 (9)(5)
Total state43 38 47 
Total income tax expense$228 $206 $245 
The following schedule presents a reconciliation of income tax expense calculated at the statutory federal income tax rate of 21% with the actual income tax expense:
(In millions)202420232022
Income tax expense at statutory federal rate$213 $186 $242 
State income taxes including credits, net34 31 38 
Other nondeductible expenses32 29 13 
Nontaxable income(46)(41)(40)
Share-based compensation1 (1)(4)
Other(6)2 (4)
Total income tax expense$228 $206 $245 
Deferred tax assets (“DTAs”) and deferred tax liabilities (“DTLs”) are calculated based on temporary differences between the financial statement values of assets and liabilities and their respective tax basis, using enacted tax laws and rates. Any changes in tax rates affecting DTAs and DTLs are recognized in income during the period that includes the enactment date. DTAs are recognized to the extent that management considers it more likely than not that they will be realized. Unrecognized tax benefits for uncertain tax positions primarily relate to tax credits on technology initiatives.
The net DTA or DTL is included in “Other assets” and “Other liabilities” on the consolidated balance sheet, respectively. The following schedule presents the tax effects of temporary differences that result in significant portions of DTAs and DTLs:
(In millions)December 31,
20242023
Gross deferred tax assets:
Book loan loss deduction in excess of tax$183 $181 
Deferred compensation81 81 
Investment securities and derivative fair value adjustments775 879 
Lease liabilities60 50 
Capitalized costs30 37 
Other47 48 
Total deferred tax assets before valuation allowance1,176 1,276 
Valuation allowance— — 
Total deferred tax assets1,176 1,276 
Gross deferred tax liabilities:
Premises and equipment, due to differences in depreciation(90)(101)
Federal Home Loan Bank stock dividends(3)(3)
Leasing operations(43)(49)
Prepaid expenses(8)(5)
Mortgage servicing(6)(5)
Deferred loan costs(36)(34)
ROU assets(47)(43)
Qualified opportunity fund deferred gains(26)(27)
Equity investments(13)(10)
Total deferred tax liabilities(272)(277)
Net deferred tax assets (liabilities)$904 $999 
We have certain fixed-rate AFS investment securities whose fair value has declined due to increases in benchmark interest rates, resulting in unrealized losses in the AFS portfolio and a corresponding DTA. The sale of these securities could result in significant realized losses, requiring future earnings to utilize the DTAs. However, as previously discussed in Note 5, we have both the intent and ability to hold these securities until their value recovers.
We regularly evaluate DTAs to determine whether a valuation allowance is required. This evaluation is based on the more-likely-than-not criteria that such assets will be realized, considering all available evidence, both positive and negative. This evaluation includes, but is not limited to, the following factors:
•Future reversals of existing DTLs — These DTLs generally have a reversal pattern consistent with DTAs and are used to realize the DTAs.
•Tax planning strategies — We consider prudent and feasible tax planning strategies that we would implement to preserve the value of the DTAs, if necessary.
•Future projected taxable income — We expect future taxable income to offset the reversal of remaining net DTAs.
Based on this evaluation, we concluded that a valuation allowance was not required at December 31, 2024 and December 31, 2023.
At December 31, 2024, the tax effect of remaining net operating loss and tax credit carryforwards was less than $1 million, expiring through 2039.
We have a liability for unrecognized tax benefits related to uncertain tax positions for tax credits on technology initiatives. The following schedule presents a roll forward of gross unrecognized tax benefits:
(In millions)202420232022
Balance at beginning of year$15 $13 $14 
Tax positions related to current year:
Additions— 2 2 
Tax positions related to prior years:
Additions— 10 — 
Reductions— — (1)
Settlements with taxing authorities— (3)— 
Lapses in statutes of limitations(8)(7)(2)
Balance at end of year$7 $15 $13 
At December 31, 2024 and 2023, our liability for unrecognized tax benefits included approximately $7 million and $13 million, respectively (net of the federal tax benefit on state taxes) that, if recognized, would affect the effective tax rate. The amount of gross unrecognized tax benefits related to tax credits on technology initiatives that may decrease during the 12 months following December 31, 2024 is approximately $3 million.
Interest and penalties related to unrecognized tax benefits are included in “Income tax expense” on the consolidated statement of income. At December 31, 2024 and 2023, accrued interest and penalties included in “Other liabilities” on the consolidated balance sheet, net of any federal and state tax benefits, totaled approximately $1 million and $2 million, respectively.
We file income tax returns in U.S. federal and various state jurisdictions and are no longer subject to income tax examinations for years prior to 2021 for federal and certain state returns.
v3.25.0.1
NET EARNINGS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
NET EARNINGS PER COMMON SHARE NET EARNINGS PER COMMON SHARE
Net earnings per common share are based on net earnings applicable to common shareholders, net of preferred stock dividends. Basic net earnings per common share are calculated using the weighted average number of outstanding common shares during each year. Unvested share-based awards with rights to receive nonforfeitable dividends are considered participating securities and included in the computation of basic earnings per share. Diluted net earnings per common share are based on the weighted average number of outstanding common shares during each year, including common stock equivalents. Stock options, restricted stock, RSUs, and stock warrants are converted to common stock equivalents using the more dilutive of the treasury stock method or the two-class method. Diluted net earnings per common share exclude common stock equivalents whose effect is antidilutive.
The following schedule presents basic and diluted net earnings per common share based on the weighted average outstanding shares:
(In millions, except shares and per share amounts)202420232022
Basic:
Net income$784 $680 $907 
Less common and preferred dividends289 277 269 
Less impact from redemption of preferred stock6 — — 
Undistributed earnings489 403 638 
Less undistributed earnings applicable to nonvested shares5 4 5 
Undistributed earnings applicable to common shares484 399 633 
Distributed earnings applicable to common shares245 243 237 
Total earnings applicable to common shares$729 $642 $870 
Weighted average common shares outstanding (in thousands)147,210 147,748 150,064 
Net earnings per common share$4.95 $4.35 $5.80 
Diluted:
Total earnings applicable to common shares$729 $642 $870 
Weighted average common shares outstanding (in thousands)147,210 147,748 150,064 
Dilutive effect of stock options (in thousands)5 8 207 
Weighted average diluted common shares outstanding (in thousands)
147,215 147,756 150,271 
Net earnings per common share$4.95 $4.35 $5.79 
The following schedule presents the weighted average stock awards that were anti-dilutive and not included in the calculation of diluted earnings per share:
(In thousands)202420232022
Restricted stock and restricted stock units$1,663 $1,383 $1,265 
Stock options1,110 1,409 178 
v3.25.0.1
OPERATING SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
OPERATING SEGMENT INFORMATION OPERATING SEGMENT INFORMATION
We manage our operations with a primary focus on geographic area, primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. We conduct our operations primarily through seven separately managed affiliate banks, each with its own local branding and management team, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington. These affiliate banks comprise our primary operating segments. We emphasize local authority, responsibility, pricing, and customization of certain products that are designed to maximize customer satisfaction, strengthen community relations, and improve profitability and shareholder returns.
At December 31, 2024, Zions Bank operated 92 branches in Utah, 25 branches in Idaho, and one branch in Wyoming. CB&T operated 75 branches in California. Amegy operated 75 branches in Texas. NBAZ operated 56 branches in Arizona. NSB operated 43 branches in Nevada. Vectra operated 33 branches in Colorado and one branch in New Mexico. TCBW operated two branches in Washington and one branch in Oregon. In 2024, all of the Bank’s assets, revenues, and expenses were located in or derived from operations within the United States.
On September 23, 2024, we announced that we entered into an agreement to purchase four FirstBank Coachella Valley, California branches and their associated deposit and loan accounts. These branches will be operated by our CB&T affiliate bank. In addition to the four branches, the purchase includes approximately $700 million in deposits and $400 million in commercial and consumer loans. These amounts are subject to change. The transaction is expected to be completed in the first quarter of 2025, subject to customary closing conditions.
We focus on serving customers in the communities in which we operate. Each of our operating segments provide a wide range of banking products and related services, delivered digitally or by other means, including primarily commercial and small business banking, capital markets and investment banking, commercial real estate lending, retail banking, and wealth management.
Our affiliate banks are supported by an enterprise operating segment, referred to as the “Other” segment, which provides governance and risk management, allocates capital, establishes strategic objectives, and includes centralized technology, back-office functions, and certain lines of business not operated through our affiliate banks. The cost of centrally provided services are allocated to the operating segments based on estimated or actual usage of those services. Capital is allocated according to the risk-weighted assets held by each operating segment. We employ an internal funds transfer pricing (“FTP”) allocation process to report the results of operations for operating segments. This process is subject to ongoing changes and refinements. The total average loans and deposits presented for the operating segments include minor intercompany amounts and may also include deposits with the “Other” segment. Transactions between operating segments are primarily conducted at fair value, with profits eliminated for consolidated reporting purposes.
We evaluate performance and allocate resources primarily based on income or loss from operations before income taxes. The accounting policies of the operating segments align with those in the Notes to Consolidated Financial Statements.
The chief operating decision maker (“CODM”) is our Chairman and Chief Executive Officer. The CODM regularly receives certain segment information, including net interest income, noninterest income, significant noninterest expenses, and income or loss from operations before income taxes. This information is used to evaluate performance and allocate resources for each segment.
The following schedule presents selected operating segment information that is regularly provided to the CODM to evaluate performance and allocate resources:
(In millions)Zions BankCB&TAmegy
202420232022202420232022202420232022
SELECTED INCOME STATEMENT DATA
Net interest income 1
$692 $698 $726 $584 $602 $592 $496 $457 $505 
Provision for credit losses(8)20 43 42 44 49 22 15 5 
Net interest income after provision for credit losses
700 678 683 542 558 543 474 442 500 
Noninterest income187 192 186 121 116 114 175 184 165 
Noninterest expense:
Salaries and employee benefits141 142 137 126 126 121 112 107 105 
Technology, telecom, and information processing14 16 14 5 5 4 8 8 8 
Occupancy and equipment, net27 27 24 33 34 33 33 28 28 
Other direct expenses 2
71 96 60 42 58 33 56 70 40 
Indirect/allocated expenses318 301 263 197 188 149 247 240 174 
Total noninterest expense571 582 498 403 411 340 456 453 355 
Income (loss) before income taxes$316 $288 $371 $260 $263 $317 $193 $173 $310 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$14,799 $14,296 $13,272 $14,286 $14,128 $13,129 $13,398 $12,851 $12,110 
Total average deposits21,151 20,233 24,316 14,582 14,253 16,160 14,792 13,569 15,735 
(In millions)NBAZNSBVectra
202420232022202420232022202420232022
SELECTED INCOME STATEMENT DATA
Net interest income 1
$245 $249 $242 $197 $192 $185 $148 $151 $153 
Provision for credit losses17 4 11 (11)42 4 3 7 9 
Net interest income after provision for credit losses
228 245 231 208 150 181 145 144 144 
Noninterest income43 40 48 52 45 48 29 28 31 
Noninterest expense:
Salaries and employee benefits54 55 51 46 45 44 41 41 39 
Technology, telecom, and information processing4 4 4 6 5 6 2 3 3 
Occupancy and equipment, net11 10 10 11 12 11 11 12 8 
Other direct expenses 2
26 29 17 21 27 16 14 18 10 
Indirect/allocated expenses101 96 85 93 85 74 69 67 60 
Total noninterest expense196 194 167 177 174 151 137 141 120 
Income (loss) before income taxes$75 $91 $112 $83 $21 $78 $37 $31 $55 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,683 $5,318 $4,911 $3,555 $3,392 $2,987 $4,063 $4,004 $3,632 
Total average deposits6,933 7,008 8,035 7,169 6,964 7,436 3,505 3,482 4,109 
(In millions)TCBWOtherConsolidated Bank
202420232022202420232022202420232022
SELECTED INCOME STATEMENT DATA
Net interest income 1
$63 $61 $63 $5 $28 $54 $2,430 $2,438 $2,520 
Provision for credit losses9 2 1 (2)(2)— 72 132 122 
Net interest income after provision for credit losses
54 59 62 7 30 54 2,358 2,306 2,398 
Noninterest income8 7 7 85 65 33 700 677 632 
Noninterest expense:
Salaries and employee benefits12 13 12 755 746 726 1,287 1,275 1,235 
Technology, telecom, and information processing2 2 2 219 197 168 260 240 209 
Occupancy and equipment, net3 2 3 32 35 35 161 160 152 
Other direct expenses 2
5 7 4 103 117 102 338 422 282 
Indirect/allocated expenses11 11 3 (1,036)(988)(808)— — — 
Total noninterest expense33 35 24 73 107 223 2,046 2,097 1,878 
Income (loss) before income taxes$29 $31 $45 $19 $(12)$(136)$1,012 $886 $1,152 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$1,805 $1,705 $1,630 $958 $1,046 $927 $58,547 $56,740 $52,598 
Total average deposits1,144 1,196 1,571 5,484 6,161 1,167 74,760 72,866 78,529 
1 Interest income is shown net of interest expense consistent with the information regularly provided to the CODM and used to evaluate segment performance.
2 Includes expenses such as professional and legal services, marketing and business development, deposit insurance and regulatory expense, credit-related expense, other real estate expense, and other noninterest expense.
v3.25.0.1
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
The following schedule presents quarterly financial information for 2024 and 2023:
(In millions, except per share amounts)Fourth QuarterThird QuarterSecond QuarterFirst Quarter
2024
Total interest income$1,062 $1,104 $1,073 $1,054 
Net interest income627 620 597 586 
Provision for credit losses41 13 5 13 
Noninterest income193 172 179 156 
Noninterest expense509 502 509 526 
Income before income taxes270 277 262 203 
Net income216 214 201 153 
Preferred stock dividends(10)(10)(11)(10)
Preferred stock redemption(6)— — — 
Net earnings applicable to common shareholders200 204 190 143 
Net earnings per common share:
Basic1.34 1.37 1.28 0.96 
Diluted1.34 1.37 1.28 0.96 
2023
Total interest income$1,040 $1,010 $977 $920 
Net interest income583 585 591 679 
Provision for credit losses— 41 46 45 
Noninterest income148 180 189 160 
Noninterest expense581 496 508 512 
Income before income taxes150 228 226 282 
Net income126 175 175 204 
Preferred stock dividends(10)(7)(9)(6)
Net earnings applicable to common shareholders116 168 166 198 
Net earnings per common share:
Basic0.78 1.13 1.11 1.33 
Diluted0.78 1.13 1.11 1.33 
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure                      
Net Income (Loss) Attributable to Parent $ 216 $ 214 $ 201 $ 153 $ 126 $ 175 $ 175 $ 204 $ 784 $ 680 $ 907
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 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
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity risk is overseen by the Board and the Bank’s multiple lines of defense, including front-line bankers, operations teams, Enterprise Risk Management (“ERM”), and internal audit. Information security risk is managed in accordance with an established ERM framework, which includes elements such as key risk indicators, enterprise standards, controls, and self-assessments that comply with established ERM policies. These elements are regularly assessed, measured, and reported to Board-level and Bank senior management-level risk committees, and those committees review such reports.
We engage multiple independent third parties and cyber experts to assess our information security programs and practices. These assessments include, but are not limited to, framework maturity assessments, blind penetration testing, technology health checks, cyber skill and staffing assessments, externally facilitated tabletop exercises, external cyber legal counsel briefings, and strategic assessments. Findings from these assessments are regularly reviewed with management and the ROC. Additionally, we participate in various cybersecurity industry forums and have access to law enforcement analysis regarding current threats.
Our supply chain risk management practices include risk assessments of suppliers, particularly regarding cybersecurity. We monitor our suppliers using commercially available services that provide real-time security scoring of supplier technology services, threat intelligence, financial intelligence, geopolitical risk intelligence, and other cybersecurity-related considerations. Regular reviews are performed to monitor changes in our suppliers’ cybersecurity risk posture. Continuous threat intelligence monitoring is also conducted to identify potential cybersecurity incidents involving third parties. We strive to negotiate appropriate cybersecurity provisions in our contracts with suppliers.
Upon the occurrence of a cybersecurity incident, whether identified internally or through third-party cybersecurity notifications, we assess the incident’s criticality and potential materiality and disclosure. This evaluation considers various factors, including service availability, operational impact, reputational consequences, regulatory and legal implications, data sensitivity, and direct financial impact. The CISO continuously monitors these criteria to determine the incident's potential impact, individually or in aggregate. We have established escalation procedures to promptly inform senior and executive management, the Board (or relevant subcommittees), and regulators, based on the incident's criticality and materiality.
At December 31, 2024, risks from cybersecurity threats, including those arising from any previous cybersecurity incidents, have not materially impacted our business strategy, results of operations, or financial condition. Management has evaluated known cybersecurity incidents for potential materiality and disclosure using formal, documented processes and has determined that there have been no material cybersecurity incidents, either individually or in aggregate. We acknowledge that future cybersecurity incidents could potentially have a material adverse effect on our organization, despite our efforts to prevent or mitigate such events.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Cybersecurity risk is overseen by the Board and the Bank’s multiple lines of defense, including front-line bankers, operations teams, Enterprise Risk Management (“ERM”), and internal audit. Information security risk is managed in accordance with an established ERM framework, which includes elements such as key risk indicators, enterprise standards, controls, and self-assessments that comply with established ERM policies. These elements are regularly assessed, measured, and reported to Board-level and Bank senior management-level risk committees, and those committees review such reports.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The ROC is responsible for reviewing reports from management related to enterprise-wide risk management efforts, including cybersecurity risks. As part of this oversight, the ROC conducts an annual review and approval of information security policies and programs, and receives regular updates on key risk indicators, threat trends, risk remediation activities, and operational events. The ROC regularly reports on this oversight, including cybersecurity, to the Board. Management employs multiple real-time and interval-based monitoring and reporting mechanisms to detect and respond to cybersecurity incidents, and may also engage third parties to assist in these efforts. Documented escalation procedures are regularly tested through tabletop exercises and other activities, including notification to executive management during qualifying cybersecurity incidents.
Management directly responsible for assessing, measuring, and managing cybersecurity risks include the Chief Information Security Officer (“CISO”) and the Chief Technology and Operations Officer (“CTOO”). The current CISO has more than 20 years of technology leadership experience, including significant direct involvement in cybersecurity efforts, and holds multiple industry certifications. The current CTOO has more than 25 years of experience in audit, risk, operations, and technology leadership, including previous roles as Chief Audit Executive and Director of Bank Operations. The CISO and CTOO regularly report cybersecurity risk information to the Board or a Board committee.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The ROC is responsible for reviewing reports from management related to enterprise-wide risk management efforts, including cybersecurity risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The ROC is responsible for reviewing reports from management related to enterprise-wide risk management efforts, including cybersecurity risks. As part of this oversight, the ROC conducts an annual review and approval of information security policies and programs, and receives regular updates on key risk indicators, threat trends, risk remediation activities, and operational events. The ROC regularly reports on this oversight, including cybersecurity, to the Board. Management employs multiple real-time and interval-based monitoring and reporting mechanisms to detect and respond to cybersecurity incidents, and may also engage third parties to assist in these efforts. Documented escalation procedures are regularly tested through tabletop exercises and other activities, including notification to executive management during qualifying cybersecurity incidents.
Cybersecurity Risk Role of Management [Text Block]
Cybersecurity risk is overseen by the Board and the Bank’s multiple lines of defense, including front-line bankers, operations teams, Enterprise Risk Management (“ERM”), and internal audit. Information security risk is managed in accordance with an established ERM framework, which includes elements such as key risk indicators, enterprise standards, controls, and self-assessments that comply with established ERM policies. These elements are regularly assessed, measured, and reported to Board-level and Bank senior management-level risk committees, and those committees review such reports.
The ROC is responsible for reviewing reports from management related to enterprise-wide risk management efforts, including cybersecurity risks. As part of this oversight, the ROC conducts an annual review and approval of information security policies and programs, and receives regular updates on key risk indicators, threat trends, risk remediation activities, and operational events. The ROC regularly reports on this oversight, including cybersecurity, to the Board. Management employs multiple real-time and interval-based monitoring and reporting mechanisms to detect and respond to cybersecurity incidents, and may also engage third parties to assist in these efforts. Documented escalation procedures are regularly tested through tabletop exercises and other activities, including notification to executive management during qualifying cybersecurity incidents.
Management directly responsible for assessing, measuring, and managing cybersecurity risks include the Chief Information Security Officer (“CISO”) and the Chief Technology and Operations Officer (“CTOO”). The current CISO has more than 20 years of technology leadership experience, including significant direct involvement in cybersecurity efforts, and holds multiple industry certifications. The current CTOO has more than 25 years of experience in audit, risk, operations, and technology leadership, including previous roles as Chief Audit Executive and Director of Bank Operations. The CISO and CTOO regularly report cybersecurity risk information to the Board or a Board committee.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Management directly responsible for assessing, measuring, and managing cybersecurity risks include the Chief Information Security Officer (“CISO”) and the Chief Technology and Operations Officer (“CTOO”).
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The current CISO has more than 20 years of technology leadership experience, including significant direct involvement in cybersecurity efforts, and holds multiple industry certifications. The current CTOO has more than 25 years of experience in audit, risk, operations, and technology leadership, including previous roles as Chief Audit Executive and Director of Bank Operations.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CISO and CTOO regularly report cybersecurity risk information to the Board or a Board committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Basis of Financial Statement Presentation and Principles of Consolidation
The consolidated financial statements include our accounts and those of our majority-owned, consolidated subsidiaries. This also includes our wholly-owned subsidiaries, such as ZMFU II, Inc., which is utilized for our municipal lending business, and Zions Direct, Inc., a registered broker-dealer under the Exchange Act, among other subsidiaries.
Investments in which we have the ability to exercise significant influence over the operating and financial policies of the investee are accounted for using the equity method. All intercompany accounts and transactions have been eliminated in consolidation. Assets held in an agency or fiduciary capacity are excluded from the consolidated financial statements.
The consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and prevailing practices within the financial services industry. References to GAAP, including standards issued by the Financial Accounting Standards Board (“FASB”), are made according to sections of the Accounting Standards Codification (“ASC”). In preparing the consolidated financial statements, we make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from these estimates.
Subsequent Events
We evaluated events that occurred between December 31, 2024, and the date the accompanying financial statements were issued. We determined that there were no material events requiring adjustments to our consolidated financial statements or significant disclosure in the accompanying notes.
Variable Interest Entities A variable interest entity (“VIE”) is consolidated when we are identified as the primary beneficiary of the VIE. Current accounting guidance requires continuous analysis to determine the primary beneficiary of a VIE. At the start of our involvement, and periodically thereafter, we reassess our consolidation conclusions for all entities with which we are involved.
Statement of Cash Flows
For purposes of presentation on the consolidated statements of cash flows, “cash and cash equivalents” are defined as those amounts included in “Cash and due from banks” on the consolidated balance sheets.
Securities Purchased Under Agreements to Resell
Securities purchased under agreements to resell consist of overnight and term agreements, with the majority maturing within 50 days. These agreements are generally classified as collateralized financing transactions and are carried at the acquisition cost plus accrued interest. We, or third parties on our behalf, take possession of the underlying securities. The fair value of such securities is continuously monitored throughout the contract term to ensure asset values remain sufficient to mitigate counterparty default risk. Contractual provisions allow us to sell or
repledge certain securities accepted as collateral for securities purchased under agreements to resell.
Other Noninterest-bearing Investments
Other noninterest-bearing investments include private equity investments (“PEIs”), venture capital securities, securities acquired for various debt and regulatory requirements, bank-owned life insurance (“BOLI”), and certain other noninterest-bearing investments. See Note 3 for further information.
Certain PEIs and venture capital securities are accounted for under the equity method of accounting when we can exercise significant influence over the investee's operating and financial policies. Equity investments in PEIs that do not grant significant influence are reported at fair value, unless a readily determinable fair value in unavailable. In such cases, we have elected to measure PEIs at cost, less impairment (if any), plus or minus observable price changes from identical or similar investments of the same issuer, referred to as the “measurement alternative.” Periodic impairment reviews are conducted by comparing carrying values with fair value estimates. Changes in fair value, impairment losses, and gains and losses from sales are included in “Securities gains (losses), net” on the consolidated statement of income.
BOLI is accounted for at fair value based on the cash surrender values (“CSVs”) of the general account insurance policies.
Business Combinations
Business combinations are accounted for under the acquisition method of accounting. Upon initially obtaining control, we recognize 100% of all acquired assets and assumed liabilities, regardless of the ownership percentage. These assets and liabilities are recorded at their estimated fair values, with goodwill recognized when such net fair values are less than the acquisition cost. Certain transaction and restructuring costs are expensed as incurred. Changes to estimated fair values from a business combination are recognized as adjustments to goodwill during the measurement period, which cannot exceed one year from the acquisition date. The results of operations of acquired businesses are included on our consolidated statement of income from the date of acquisition.
Other Real Estate Owned
Other real estate owned (“OREO”) consists primarily of commercial and residential real estate acquired in partial or full satisfaction of loan obligations. These properties are initially recorded at fair value, less estimated selling costs, based on recent property appraisals at the time of transfer. Subsequently, they are recorded at the lower of cost or fair value, less estimated selling costs.
Recent Accounting Pronouncements
Standard
Description
Effective date
Effect on the financial statements or other significant matters
Standards not yet adopted by the Bank as of December 31, 2024
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
This accounting standards update (“ASU”) requires additional detailed information to improve the usefulness of income tax disclosures. This includes providing detailed annual disclosures on rate reconciliation and income taxes paid for specific categories and when certain quantitative thresholds are met.
January 1, 2025
The overall effect of this standard is not expected to have a material impact on our financial statements.
ASU 2024-03,
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
This ASU requires additional disclosures of certain costs and expenses in both interim and annual reporting periods, including:
•Amounts of employee compensation, depreciation, and intangible asset amortization included in certain expense lines presented on the face of the income statement within continuing operations.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
•The Bank's definition and amount of selling costs.
Annual periods beginning January 1, 2027; Interim periods beginning January 1, 2028
We are evaluating the new disclosure requirements. The overall effect of this standard is not expected to have a material impact on our financial statements.
Standards adopted by the Bank in 2024
ASU 2023-02,
Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)
This ASU expands the optional application of the proportional amortization method (“PAM”), which was previously limited to investments in low-income housing tax credit (“LIHTC”) structures. It now includes any eligible equity investments primarily made to receive income tax credits and other tax benefits, provided certain criteria are met. Under PAM, the investment cost is amortized in proportion to the income tax credits and other income tax benefits received. The amortization of the investment and the income tax credits are presented net on the consolidated statement of income as a component of income tax expense (benefit).

This ASU allows for an accounting policy election to apply PAM on a tax-credit-program-by-tax-credit-program basis. The ASU also includes additional disclosure requirements for equity investments accounted for using PAM.		January 1, 2024We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements.
Standards adopted by the Bank in 2024
ASU 2022-03,
Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
This ASU clarifies that contractual restrictions prohibiting the sale of an equity security are not included in the unit of account of the equity security, and therefore, are not considered when measuring fair value. The amendments specify that the Bank cannot recognize and measure a contractual sale restriction as a separate unit of account. Additionally, the ASU requires further qualitative and quantitative disclosures for equity securities subject to contractual sale restrictions.
January 1, 2024We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements.
ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
This ASU expands operating segment disclosures and requires all segment disclosures to be reported in both annual and interim periods. The new standard requires disclosure of the following:
•Significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) for reportable segments;
•The title and position of the CODM as well as how the CODM uses the reported measure(s) of profit and loss to assess segment performance; and
•“Other segment items” by reportable segment and a description of its composition.
Annual periods beginning January 1, 2024; Interim periods beginning January 1, 2025
We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements. See Note 22 of the Notes to Consolidated Financial Statements.
Fair Value Measurement
We measure many of our assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To enhance consistency and comparability in fair value measurements, we prioritize valuation inputs following a three-level hierarchy, as described below. We prioritize quoted prices in active markets and minimize reliance on unobservable inputs. When observable market prices are unavailable, fair value is estimated using modeling techniques, employing assumptions that align with those that market participants would consider in pricing the asset or liability. Changes in market conditions may reduce the availability of quoted prices or observable data.
The following fair value hierarchy prioritizes the use of observable inputs over unobservable inputs when measuring the fair value of assets and liabilities:
•Level 1 — Quoted prices in active markets for identical assets or liabilities that we have the ability to access;
•Level 2 — Observable inputs other than Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in less active markets, observable inputs other than quoted prices used in the valuation of an asset or liability, and inputs derived principally from or corroborated by observable market data through correlation or other means; and
•Level 3 — Unobservable inputs supported by minimal or no market activity for financial instruments whose value is determined by pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
The classification of a fair value measurement within the fair value hierarchy is based on the lowest level input that is significant to the measurement. Market activity is presumed to be orderly in the absence of evidence of forced or
disorderly sales. Applicable accounting guidance precludes the use of blockage factors or liquidity adjustments due to the quantity of securities held by the Bank.
We measure certain assets and liabilities at fair value on a recurring basis when fair value is the primary measure for accounting. Fair value is also used on a nonrecurring basis for certain assets or liabilities to determine any impairment, apply lower of cost or fair value accounting, or for disclosure purposes of certain financial instruments.
Fair Value Policies and Procedures
We have established various policies, processes, and controls to ensure that fair values are reasonably estimated, reviewed, and approved for use. Our Securities Valuation Committee, comprised of executive management, reviews and approves the key components of fair value measurements on a quarterly basis, including critical valuation assumptions for Level 3 measurements. Our Model Risk Management Group conducts model validations, including internal models, and sets policies and procedures for revalidation, including the timing of revalidation.
Third-party Service Providers
We utilize a third-party pricing service to measure fair value of substantially all of our Level 2 available-for-sale (“AFS”) securities. Fair value measurements for other Level 2 AFS securities generally rely on inputs corroborated by market data and include discounted cash flow analyses.
For Level 2 securities, the third-party pricing service provides ongoing documentation that includes market data, detailed pricing information and market reference data. This documentation includes benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data from the vendor trading platform. We regularly review, test, and validate this information.
The following describes the hierarchy designations, valuation methodologies, and key inputs used to measure fair value on a recurring basis for designated financial instruments:
Trading securities
Trading securities are measured using observable market inputs and are classified in Level 1 and Level 2.
Available-for-Sale investment securities
•U.S. Treasury, Agencies and Corporations — U.S. Treasury securities measured using quoted market prices are classified in Level 1. U.S. agency and corporate securities measured using observable market inputs are classified in Level 2.
•Municipal Securities — Municipal securities are measured using observable market inputs and are classified in Level 2.
•Other Debt Securities — Other debt securities are measured using quoted prices for similar securities and are classified in Level 2.
Loans held for sale
We have elected the fair value option for certain commercial real estate (“CRE”) loans designated for sale to a third-party conduit for securitization. These loans are measured at fair value using observable market prices for mortgage-backed securities with similar collateral, and are therefore generally classified in Level 2. The valuation of these loans incorporates adjustments for differences between the securities and the underlying loans, considering factors such as credit quality, portfolio composition, and liquidity.
Bank-owned Life Insurance
BOLI is measured according to the CSV of the insurance policies. Nearly all policies are general account policies with CSVs based on our claims on the assets of the insurance companies. The insurance companies’ investments predominantly include fixed-income securities, such as investment-grade corporate bonds and various types of mortgage instruments. Management regularly reviews the performance of its BOLI investments, including concentrations among insurance providers, and classifies BOLI balances in Level 2 in the fair value hierarchy.
Private Equity Investments
PEIs measured at fair value on a recurring basis are generally classified in Level 3 due to the inclusion of unobservable inputs in their valuation. Key assumptions and considerations include current and projected financial performance, recent financing activities, economic and market conditions, market comparable companies, market liquidity, and other relevant factors. The majority of these PEIs are held in our Small Business Investment Company (“SBIC”) and consist of early-stage venture investments. These investments are reviewed at least quarterly by the Securities Valuation Committee and whenever a new round of financing occurs. Some of these investments may be valued using multiples of operating performance. Occasionally, PEIs may become publicly traded and are then measured in Level 1. Certain restrictions may apply to the redemption of these investments.
Agriculture Loan Servicing
We service agriculture loans approved and funded by the Federal Agricultural Mortgage Corporation (“FAMC”) under an agreement for the loans it owns. The servicing assets are measured at fair value, representing our projection of the present value of net future servicing cash flows. Due to the inclusion of unobservable inputs in these measurements, these assets are classified in Level 3.
Deferred Compensation Plan Assets
Invested assets in the deferred compensation plan consist of shares of registered investment companies. These mutual funds are valued using quoted market prices, representing the net asset value (“NAV”) of shares held by the plan at the end of the period. Consequently, these assets are classified in Level 1.
Derivatives
Exchange-traded derivatives, such as foreign currency exchange contracts, are generally classified in Level 1 due to their trading in active markets. Conversely, over-the-counter derivatives, which primarily include interest rate swaps, forwards, options, and purchased credit default swaps, are generally classified in Level 2. This classification arises because their fair values are derived from third-party services that utilize observable market inputs. These inputs include yield curves, foreign exchange rates, commodity prices, option volatility, counterparty credit risk, and other related data. Valuations incorporate credit valuation adjustments (“CVAs”) to account for nonperformance risk associated with both our counterparties and us. CVAs are generally determined by applying a credit spread to the total expected exposure, net of any collateral, of the derivative.
Securities Sold, Not Yet Purchased
Securities sold, not yet purchased, are included in “Federal funds and other short-term borrowings” on the consolidated balance sheet. They are measured using quoted market prices and are generally classified in Level 1. In cases where market prices for identical securities are unavailable, quoted prices for similar securities are utilized, with the related balances classified in Level 2.
Investment Securities
Investment Securities
We classify our investment securities as either available-for-sale (“AFS”) or held-to-maturity (“HTM”), according to their purpose and holding period. Gains or losses on the sale of investment securities are recognized using the specific identification method and are recorded in noninterest income.
AFS securities are measured at fair value and consist of debt securities used to manage liquidity and interest rate risk and to generate interest income. Unrealized gains and losses from AFS securities, after applicable taxes, are recorded as a component of other comprehensive income (“OCI”).
HTM securities, which management has the intent and ability to hold until maturity, are carried at amortized cost. The amortized cost represents the original investment cost, adjusted for related amortization or accretion of any purchase premiums or discounts, and for any impairment losses, including credit-related impairment.
The carrying values of our investment securities do not include accrued interest receivables of $60 million and $65 million at December 31, 2024, and 2023, respectively. These receivables are included in “Other assets” on the consolidated balance sheet. The purchase premiums for callable debt securities classified as AFS or HTM are amortized into interest income at an effective yield to the earliest call date. The purchase premiums and discounts for all other AFS and HTM securities are recorded as interest income over the contractual life of the security using the effective yield method. As principal prepayments are received on securities, a proportionate amount of the related premium or discount is recognized in income so that the effective yield on the remaining portion of the security continues unchanged.
Investment Securities, Impairment
On a quarterly basis, we review our investment securities portfolio for the presence of impairment on an individual security basis. For AFS securities, when the fair value of a debt security is less than its amortized cost basis at the balance sheet date, we assess for credit impairment. When determining if the fair value of an investment is less than the amortized cost basis, we exclude accrued interest from the amortized cost basis of the investment. If we intend to sell an identified security, or if it is more likely than not we will be required to sell the security before recovering its amortized cost basis, we write the amortized cost down to the security’s fair value at the reporting date through earnings.
If we have the intent and ability to hold the securities, we determine whether any impairment is attributable to credit-related factors. We analyze certain factors, primarily internal and external credit ratings, to determine if the decline in fair value below the amortized cost basis results from a credit loss or other factors. If a credit impairment is identified, we measure the amount of credit loss and recognize an allowance for it.
To measure the credit loss, we generally compare the present value of expected cash flows from the security to its amortized cost basis. These cash flows are adjusted for credit using assumptions for default probability and loss severity, among other factors. Additional inputs, such as prepayment rate assumptions, are also utilized, and certain internal models may be employed. To determine the credit-related portion of impairment, we use the security-specific effective interest rate to estimate the present value of cash flows. If the present value of cash flows is less than the amortized cost basis of the security, this amount is recorded as an allowance for credit loss, limited to the amount by which the fair value is less than the amortized cost basis (i.e., the credit impairment cannot result in the security being carried at an amount lower than its fair value).
The assumptions used to estimate expected cash flows depend on the asset class, structure, and credit rating of the security. Declines in fair value not recorded in the allowance are recorded in other comprehensive income, net of applicable taxes.
Loans
At the time of origination, loans are classified as either held for investment or held for sale based on our intended purpose. We may subsequently change our intent for a loan or group of loans and reclassify them accordingly. Loans held for sale are carried at the lower of cost or fair value. A valuation allowance is recorded when cost exceeds fair value, based on reviews at the time of reclassification and periodically thereafter. Associated gains and losses are calculated based on the difference between sales proceeds and carrying value, and are included in “Loan-related fees and income” on the consolidated statement of income.
In the ordinary course of business, we may syndicate portions of loans or transfer portions of loans under participation agreements to manage credit risk and portfolio concentration. We evaluate loan participations to ensure they comply with the relevant accounting guidance to qualify as sales.
We elect the fair value option for certain CRE loans designated for sale or securitization and are hedged with derivative instruments, as described further in Note 3. Gains and losses on the sale of these loans are included in “Capital markets fees” on the consolidated statement of income.
We evaluate loans throughout their lifecycle for indications of credit deterioration, which may affect the loan status, risk grading, and potentially the accounting for that loan. Loan status categories include accruing or nonaccruing, past due as to contractual payments, and modified. The ACL, which consists of the allowance for loan and lease losses (“ALLL”) and the reserve for unfunded lending commitments (“RULC”), represents our estimate of current expected credit losses related to the loan and lease portfolio and unfunded lending commitments as of the balance sheet date. The ACL for AFS and HTM debt securities is estimated separately from loans. For HTM securities, the ACL is estimated consistent with the approach for loans carried at amortized cost. See Note 5 for further discussion on our assessment of expected credit losses on AFS securities and disclosures related to AFS and HTM securities.
The ACL is calculated using the loan’s amortized cost basis, which includes the principal balance, net of unamortized premiums, discounts, and deferred fees and costs. We do not estimate the ACL for accrued interest receivables, as we reverse or write off uncollectible accrued interest receivable balances in a timely manner, generally within one month.
The methodologies we use to estimate the ACL depend on various factors, including the type of loan, the age and contractual term of the loan, expected payments (both contractual and estimated prepayments), credit quality indicators, economic forecasts, and the evaluation method (whether individually or collectively evaluated). Loan extensions or renewals are not considered in the ACL unless they are included in the original or modified loan contract and are not unconditionally cancellable.
Losses are charged to the ACL when recognized. Generally, commercial and CRE loans are charged off or charged down when they are determined to be uncollectible in whole or in part, or when 180 days past due, unless the loan is well secured and in process of collection. Consumer loans are either charged off or charged down to net realizable value no later than the month in which they become 180 days past due. Closed-end consumer loans that are not secured by residential real estate are either charged off or charged down to net realizable value no later than the month in which they become 120 days past due.
We establish the amount of the ACL by analyzing the portfolio at least quarterly, and we adjust the provision for loan losses and unfunded lending commitments to ensure the ACL is at an appropriate level at the balance sheet date. The ACL is determined based on our review of loans with similar risk characteristics, which are evaluated on a collective basis, as well as loans without similar risk characteristics, which are evaluated on an individual basis.
For commercial and CRE loans with commitments greater than $1 million, we assign internal risk grades using a comprehensive loan grading system based on financial and statistical models, individual credit analysis, and loan officer experience and judgment. The credit quality indicators described subsequently are based on this grading system. Estimated credit losses on all loan segments, including consumer and small commercial and CRE loans with commitments less than or equal to $1 million that are evaluated on a collective basis, are derived from statistical analyses of our historical default and loss experience since January 2008.
We estimate current expected credit losses for each loan by considering historical credit loss experience, current conditions, and reasonable and supportable forecasts about the future. We use the following two types of credit loss estimation models:
•Econometric loss models, which rely on statistical analyses of our historical loss experience, dependent on economic factors and other loan-level characteristics. Statistically relevant economic factors vary depending on the type of loan, but include variables such as unemployment, real estate price indices, energy prices, and gross domestic product (“GDP”). The models use multiple economic scenarios that reflect optimistic, baseline, and stressed economic conditions. The results derived using these economic scenarios are weighted to produce the credit loss estimate. Management may adjust the weights to reflect their assessment of current conditions and reasonable and supportable forecasts.
•Loss models based on our long-term average historical credit loss experience since 2008, which rely on statistical analyses of our historical loss experience, dependent upon loan-level characteristics.
Credit loss estimates for the first 12 months of a loan’s remaining life are derived using econometric loss models. Over a subsequent 12-month reversion period, we blend the estimated credit losses from the two model types on a straight-line basis. For the remaining life of the loan, the estimated credit losses are derived from the long-term average historical credit loss models.
For loans that do not share risk characteristics with other loans, we estimate lifetime expected credit losses on an individual basis. These include nonaccrual loans with a balance greater than $1 million. When a loan is individually evaluated for expected credit losses, we estimate a specific reserve for the loan based on either the projected present value of the loan’s future cash flows discounted at the loan’s effective interest rate, the observable market price of the loan, or the fair value of the loan’s underlying collateral.
When we base the specific reserve on the fair value of the loan’s underlying collateral, we generally charge off the portion of the balance that exceeds the fair value. For these loans, subsequent to the charge-off, if the fair value of the loan’s underlying collateral increases according to an updated appraisal, we establish a negative reserve up to the lesser of the amount of the charge-off or the updated fair value.
The methodologies described previously generally rely on historical loss information to help determine the quantitative portion of the ACL. We also consider other qualitative and environmental factors related to current conditions and reasonable and supportable forecasts that may indicate current expected credit losses could differ from the historical information reflected in our quantitative models. Thus, after applying historical loss experience, we review the quantitative portion of ACL for each portfolio segment. We then monitor various qualitative risk factors that influence our judgment regarding the level of the ACL across the portfolio segments. These factors primarily include:
•Actual and expected changes in international, national, regional, and local economic and business conditions and developments;
•The volume and severity of past due loans, the volume of nonaccrual loans, and the volume and severity of adversely classified or graded loans;
•Lending policies and procedures, including changes in underwriting standards and practices for collection, charge-off, and recovery;
•The experience, ability, and depth of lending management and other relevant staff;
•The nature and volume of the portfolio;
•The quality of the credit review function;
•The existence, growth, and effect of any concentration of credit;
•The effect of other external factors such as regulatory, legal, and technological environments; fiscal and monetary actions; competition; and events such as natural disasters and pandemics.
The magnitude of the impact of these factors on our qualitative assessment of the ACL changes from quarter to quarter based on management's assessment of these factors, the extent to which these factors are already reflected in quantitative loss estimates, and the extent to which changes in these factors diverge from one to another. We also consider the uncertainty and imprecision inherent in the estimation process when evaluating the ACL.
Off-balance Sheet Credit Exposures
We estimate current expected credit losses for off-balance sheet loan commitments, including letters of credit that are not unconditionally cancellable. This estimate uses the same procedures and methodologies described previously for loans and is calculated as the difference between the estimated current expected credit loss and the funded balance, if greater than zero.
Derivative Instruments
Objectives for Using Derivatives
Our primary objective for using derivatives is to manage interest rate risk. We utilize derivatives to manage volatility in interest income, interest expense, earnings, and capital by adjusting our interest rate sensitivity to minimize the impact of interest rate fluctuations. Derivatives are employed to stabilize forecasted interest income from variable-rate assets and to modify the coupon or duration of fixed-rate financial assets or liabilities as deemed advisable. Additionally, we assist customers with their risk management needs through the use of derivatives.
Derivatives Related to Interest Rate Risk Management — We apply hedge accounting to certain derivatives executed for risk management purposes. However, not all derivatives involved in our risk management activities are designated for hedge accounting. Derivatives not designated as accounting hedges are used to economically manage our exposure to interest rate movements, including offsetting customer-facing derivatives. These derivatives are not used for speculative purposes. These derivatives either do not require hedge accounting for their economic impact to be appropriately reflected in our financial statements or they do not meet the strict hedge accounting requirements.
Derivatives Related to Customers — We provide certain borrowers with access to over-the-counter interest rate derivatives, which we generally offset with interest rate derivatives executed with dealers or central clearing houses. Other interest rate derivatives that we offer to customers, or use for our own purposes, include mortgage rate locks and forward sale loan commitments. Additionally, we provide commercial customers with short-term foreign currency spot trades or forward contracts, typically with maturities of 90 days or less. These trades are largely offset by foreign currency trades with closely matching terms executed with other dealer counterparties or central clearing houses.
Accounting for Derivatives
We record all derivatives at fair value, and include them in “Other assets” or “Other liabilities” on the consolidated balance sheet, regardless of their accounting designation. We enter into International Swaps and Derivatives Association, Inc. (“ISDA”) master netting agreements, or similar agreements, with substantially all derivative counterparties. Where legally enforceable, these agreements grant us the right, in the event of default or other specified contingent events by the counterparty, to use cash or liquidate securities held as collateral and to offset receivables and payables with the same counterparty. For the consolidated balance sheet, we report all derivatives on a gross fair value basis, meaning we do not offset derivative assets, liabilities, and cash collateral held with the same counterparty, even where we have a legally enforceable master netting agreement. Note 3 discusses the process for estimating fair value for derivatives. The accounting for changes in the fair value of derivatives depends on their intended use and resulting accounting designation.
Collateral and Credit Risk
Credit risk arises from the possibility of nonperformance by counterparties. No significant losses on derivative instruments occurred during 2024 as a result of counterparty nonperformance. We manage our counterparty exposure for derivative contracts by centrally clearing all eligible derivatives and by executing dealer-facing derivative transactions with well-capitalized financial institutions.
For derivatives that are not centrally cleared, the counterparties are typically financial institutions or our customers. For financial institution counterparties, we manage our credit exposure through the use of a Credit Support Annex (“CSA”) to an ISDA master agreement with each counterparty. Eligible collateral types are documented by the CSA and controlled under our general credit policies. Collateral and derivative exposure balances are typically monitored on a daily basis. At December 31, 2024, all variation margin posted or received pursuant to the collateral terms of a CSA was in cash. We generally satisfy initial margin requirements by posting securities when permitted by the terms of the CSA.
We provide interest rate swaps to our customers to help them manage their exposure to fluctuations in interest rates. Upon issuance, these customer swaps are offset with closely matching derivative contracts to mitigate our interest rate risk exposure. The fee income from these customer swaps is included in “Capital markets fees” on the consolidated statement of income. We manage the credit risk associated with customer nonperformance through additional underwriting processes. These processes include modeling the credit risk exposure for the swap, utilizing shared collateral and guarantee protection applicable to the loan, and implementing credit approvals, limits, and monitoring procedures.
We measure counterparty credit risk by calculating a CVA, which captures the value of nonperformance risk for both our customers and ourselves. Periodic changes in the net CVA are recorded in current period earnings and included in “Fair value and nonhedge derivative income or loss” on the consolidated statement of income.
Our derivative contracts require us to pledge collateral for derivatives in a net liability position. Certain derivative contracts include credit risk-related contingent features, such as the requirement to maintain a minimum debt credit rating. If a credit risk-related feature were triggered, such as a downgrade of our credit rating, we may be required to pledge additional collateral. Historically, not all counterparties have demanded additional collateral when contractually permitted.
At December 31, 2024, the fair value of our derivative liabilities was $350 million, for which we pledged approximately $3 million in cash collateral in the normal course of business to satisfy variation margin requirements. Additionally, we pledged $180 million in U.S. Treasuries to satisfy initial margin requirements with certain dealer counterparties and central clearing houses. If our credit rating were downgraded one notch by either Standard and Poor’s (“S&P”) or Moody’s at December 31, 2024, it is unlikely that additional collateral would be required to be pledged. Derivatives that are centrally cleared do not have credit risk-related features requiring additional collateral in the event of a credit rating downgrade.
Derivatives Designated in Qualifying Hedging Relationships
We apply hedge accounting to certain derivatives executed for risk management purposes, primarily interest rate risk. To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged, and the hedging relationship must be formally documented. We primarily use regression analysis to assess the effectiveness of each hedging relationship, unless the hedge qualifies for other methods of assessing effectiveness (e.g., shortcut or critical terms match), both at inception and on an ongoing basis. We designate derivatives as fair value and cash flow hedges for accounting purposes.
Derivatives designated as accounting hedges are formally documented at the inception of the hedging relationship. This documentation includes the relationship between the hedging instrument and the hedged items or transactions, the risk management objective and strategy, and the methodology that will be used at inception and on an ongoing basis to assess the effectiveness of the hedging relationship. This ensures the hedge remains highly effective at offsetting changes in fair value or cash flows of the hedged items or transactions. If a hedging relationship is determined to no longer be highly effective, hedge accounting is discontinued prospectively.
Derivatives used to hedge the exposure to changes in the fair value of assets, liabilities, or firm commitments attributable to interest rates or other eligible risks, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Changes in the fair value of derivatives that are not part of designated fair value or cash flow hedging relationships are recorded in current period earnings.
Fair Value Hedges — We generally use interest rate swaps designated as fair value hedges to mitigate changes in the fair value of fixed-rate assets and liabilities for specific risks, such as interest rate risk resulting from changes in a benchmark interest rate. We employ both pay-fixed, receive-floating and received-fixed, pay-floating interest rate swaps to effectively convert certain fixed-rate assets and liabilities to floating rates. In qualifying fair value hedges, changes in value of the derivative hedging instrument are recognized in current period earnings in the same line item affected by the hedged item. Similarly, the periodic changes in value of the hedged item, for the risk being hedged, are recognized in current period earnings, thereby offsetting all, or a significant majority, of the change in the value of the derivative hedging instrument. Interest accruals on both the derivative hedging instrument and the hedged item are recorded in the same line item, effectively converting the designated fixed-rate assets or liabilities to a floating rate.
Generally, the designated risk being hedged in all of our fair value hedges is the change in fair value of the secured overnight financing rate (“SOFR”) (or an alternative rate) benchmark swap rate component of the contractual coupon cash flows of the fixed-rate assets or liabilities. The swaps are structured to match the critical terms of the hedged items, maximizing the economic and accounting effectiveness of the hedging relationships and resulting in the expectation that the swaps will be highly effective as hedging instruments. All interest rate swaps designated as fair value hedges were highly effective and met all other requirements to remain designated and part of qualifying hedge accounting relationships as of the balance sheet date.
Fair Value Hedges of Liabilities — During the fourth quarter of 2024, we entered into a receive-fixed, pay-floating interest rate swap with a notional amount of $500 million to hedge the interest rate risk of a fixed-rate subordinated debt issuance. The receive-fixed interest rate swap effectively converts the interest on our fixed-rate debt to floating through the term of the hedging relationship. Changes in the fair value of the derivative designated as a fair value hedge of our fixed-rate debt were generally offset by changes in the fair value of the hedged debt instruments. We continue to have unamortized basis adjustments related to a previously terminated fair value hedge of fixed-rate debt as discussed in the schedule below. The unamortized basis adjustments from the previously terminated fair value hedge will be amortized over the remaining life of the fixed-rate debt, which matures in 2029. See Note 13 for more information on the hedged debt.
Fair Value Hedges of Assets — At December 31, 2024, we had $1.0 billion in aggregate notional amount of pay-fixed, receive-floating interest rate swaps designated as a fair value hedge of a defined portfolio of fixed-rate commercial loans. These swaps were designated in accordance with the portfolio layer method described in ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method. Additionally, we had $2.5 billion in aggregate notional amount of pay-fixed swaps designated under the portfolio layer method as fair value hedges of a defined portfolio of fixed-rate AFS securities.
At December 31, 2024, we also had pay-fixed, receive-floating interest rate swaps with an aggregate notional amount of $1.2 billion designated as fair value hedges of specifically identified AFS securities. Fair value hedges of fixed-rate assets effectively convert certain fixed-rate financial assets to a floating rate on the hedged portion of the assets. Changes in fair value of derivatives designated as fair value hedges of fixed-rate financial assets were largely offset by changes in the value of the hedged assets, as presented in the schedules below.
Cash Flow Hedges — For derivatives designated and qualifying as cash flow hedges, as long as the hedging relationship continues to qualify for hedge accounting, the entire change in the fair value of the hedging instrument is recorded in OCI and recognized in earnings, as the hedged transaction affects earnings. Ineffectiveness is not measured or separately disclosed. Gains or losses on derivatives designated as cash flow hedges are recognized in the same financial statement line item as the hedged transactions. We may use interest rate swaps, options, or a combination of options in our cash flow hedging strategy to eliminate or reduce the variability of interest receipts on floating-rate commercial loans and interest payments on floating-rate debt due to changes in any separately identifiable and reliably measurable contractual interest rate index.
At December 31, 2024, we had receive-fixed interest rate swaps with an aggregate notional amount of $550 million designated as cash flow hedges of the variability of interest receipts on floating-rate commercial loans. At December 31, 2024, we had $94 million of net losses deferred in AOCI related to terminated cash flow hedges. Amounts deferred in AOCI from terminated cash flow hedges will be amortized into interest income on a straight-line basis through the original maturity dates of the hedges, provided the hedged forecasted transactions continue to be expected to occur. These amounts will be fully reclassified to interest income by the fourth quarter of 2027. Additionally, at December 31, 2024, we had one pay-fixed interest rate swap with a notional amount of $500 million designated as a cash flow hedge of the variability in interest payments on certain FHLB advances.
Hedge Effectiveness — We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows on the derivative hedging instrument with the changes in fair value or cash flows on the designated hedged item or transactions for the risk being hedged. If a hedging relationship ceases to qualify for hedge accounting, the relationship is discontinued, and future changes in the fair value of the derivative instrument
are recognized in current period earnings. For a discontinued or terminated fair value hedging relationship, all remaining basis adjustments to the carrying amount of the hedged item are amortized into interest income or expense over the remaining life of the hedged item, consistent with the amortization of other discounts or premiums. Previous balances deferred in AOCI from discontinued or terminated cash flow hedges are reclassified into interest income or expense as the hedged transactions affect earnings or over the originally specified term of the hedging relationship.
Leases
All leases with lease terms greater than twelve months are reported as a lease liability with a corresponding right-of-use (“ROU”) asset. We include ROU assets for operating leases and finance leases in “Other assets” and “Premises, equipment and software, net” on the consolidated balance sheet, respectively. The corresponding liabilities for those leases are included in “Other liabilities” and “Long-term debt,” respectively.
ROU assets and related lease liabilities reflect the present value of the future minimum lease payments over the lease term at commencement date. Since most of our leases do not provide an implicit rate, we use our secured incremental borrowing rate, which is commensurate with the lease term, to calculate the present value of future payments. The ROU asset also includes any lease prepayments, initial direct costs, amortization, and certain nonlease components, such as maintenance, utilities, or tax payments. Our lease terms incorporate options to extend or terminate the lease when it is reasonably certain that we will exercise these options.
Premises, Equipment, and Software, Net
Premises, equipment, and software are reported at cost, net of accumulated depreciation and amortization. Depreciation, primarily calculated using the straight-line method, is allocated to operations over the estimated useful lives of the assets: generally 25 to 40 years for buildings, three to 10 years for furniture and equipment, and three to 10 years for software, including capitalized costs related to technology initiatives. Leasehold improvements are amortized over the shorter of the lease term (including any reasonably certain extension options) or the estimated useful lives of the improvements. Premises, equipment, and software are periodically evaluated for impairment.
Goodwill Goodwill is recorded upon the completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. We perform an evaluation annually as of October 1, or more frequently if events or circumstances indicate that the carrying value exceeds fair value. We may elect to perform a qualitative analysis to determine if it is more likely than not that the fair value of our reporting unit is less than its carrying amount. If the carrying amount is more likely than not to exceed its fair value, additional quantitative analysis is performed to determine the amount of goodwill impairment. If the fair value is less than the carrying value, an impairment is recorded for the difference.
Commitments and Guarantees
We utilize various financial instruments, including loan commitments, commercial letters of credit, and standby letters of credit, to meet our customers’ financing needs. They involve varying degrees of credit, liquidity, and interest rate risk beyond the amounts presented on the consolidated balance sheet. The credit risk associated with these commitments is assessed similarly to the ALLL. The RULC is presented separately on the consolidated balance sheet.
Revenue from Contract with Customer
Noninterest income and revenue from contracts with customers are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The incremental cost of obtaining a contract is recorded as an expense when incurred, provided the amortization period of the related asset is one year or less. For performance obligations satisfied over time, if we have the right to consideration from a customer that corresponds directly with the value of our performance completed to date, we generally recognize revenue in the amount to which we have the right to invoice. We generally do not disclose information about our remaining performance obligations for those obligations with an original expected duration of one year or less, or where revenue is recognized in the amount to which we have a right to invoice.
The following describes our revenue from contracts with customers:
Commercial Account Fees
Commercial account fee income consists primarily of account analysis fees, merchant fees, and payroll services income. Revenue is recognized as the services are rendered or upon their completion.
Card Fees
Card fee income primarily includes interchange fees from credit and debit cards, net fees earned from processing card transactions for merchants, and automated teller machine (“ATM”) services. Revenue from card fees is recognized as it is earned.
Retail and Business Banking Fees
Retail and business banking fees generally consist of fees for providing customers with deposit services. These fees primarily include insufficient funds fees, noncustomer ATM charges, and various other fees on deposit accounts. Service charges on deposit accounts include fees earned in lieu of compensating balances, as well as fees for performing cash management and other deposit account services. These service charges are recognized over the period in which the related service is provided. Treasury management fees are billed monthly based on services rendered during the month.
Capital Markets Fees
Capital markets fees primarily include fees associated with municipal advisory, securities underwriting, and investment banking advisory services provided to customers. Revenue is recognized either as the services are rendered or upon their completion.
Wealth Management Fees
Wealth management fees primarily consist of wealth management commissions, along with other portfolio and advisory services. Revenue is recognized as the services are rendered or upon their completion. Financial planning, fiduciary, and estate services generally have performance obligations extending beyond 12 months, although the amount of future performance obligations is not significant.
Other Customer-related Fees
Other customer-related fees generally include miscellaneous income sources, including fees associated with compliance and support services to pharmacies and healthcare providers, corporate trust fees, other advisory and referral fees, and fees for claims and inventory management services for certain customers. Revenue is recognized as the services are rendered or upon their completion.
Share-based Compensation
All share-based payments to employees, including grants of employee stock options, are recorded as compensation expense based on their grant date values, taking into account service and performance vesting requirements. The value of an equity award is estimated on the grant date using a fair value model, which considers post-vesting restrictions, but does not account for service or performance vesting conditions.
We classify all share-based awards as equity instruments. Compensation expense is included in “Salaries and employee benefits” on the consolidated statement of income, with the corresponding equity effect included in shareholders’ equity. Forfeitures of share-based compensation awards are accounted for as they occur. Substantially all share-based awards, including stock options, restricted stock, and RSUs, feature graded vesting, which is recognized on a straight-line basis over the vesting period.
Income Taxes
Deferred tax assets (“DTAs”) and deferred tax liabilities (“DTLs”) are calculated based on temporary differences between the financial statement values of assets and liabilities and their respective tax basis, using enacted tax laws and rates. Any changes in tax rates affecting DTAs and DTLs are recognized in income during the period that includes the enactment date. DTAs are recognized to the extent that management considers it more likely than not that they will be realized. Unrecognized tax benefits for uncertain tax positions primarily relate to tax credits on technology initiatives.
Net Earnings Per Common Share
Net earnings per common share are based on net earnings applicable to common shareholders, net of preferred stock dividends. Basic net earnings per common share are calculated using the weighted average number of outstanding common shares during each year. Unvested share-based awards with rights to receive nonforfeitable dividends are considered participating securities and included in the computation of basic earnings per share. Diluted net earnings per common share are based on the weighted average number of outstanding common shares during each year, including common stock equivalents. Stock options, restricted stock, RSUs, and stock warrants are converted to common stock equivalents using the more dilutive of the treasury stock method or the two-class method. Diluted net earnings per common share exclude common stock equivalents whose effect is antidilutive.
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Significant Accounting Policy Footnote Locations
The following schedule references other significant accounting policies and the Note and page where a description of each policy can be found:
Fair valueNote 3
page 98
Goodwill and other intangible assetsNote 10
page 133
Offsetting assets and liabilitiesNote 4
page 104
Long-term debtNote 13
page 135
Investment securitiesNote 5
page 104
Commitments, guarantees, contingent liabilities, and related partiesNote 16
page 140
Loans and allowance for credit lossesNote 6
page 109
Revenue from contracts with customersNote 17
page 142
Derivative instruments and hedging activitiesNote 7
page 125
Share-based compensationNote 19
page 145
LeasesNote 8
page 131
Income taxesNote 20
page 148
Premises, equipment, and softwareNote 9
page 132
Net earnings per common shareNote 21
page 150
v3.25.0.1
RECENT ACCOUNTING PRONOUNCEMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Recent Accounting Pronouncements
Standard
Description
Effective date
Effect on the financial statements or other significant matters
Standards not yet adopted by the Bank as of December 31, 2024
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
This accounting standards update (“ASU”) requires additional detailed information to improve the usefulness of income tax disclosures. This includes providing detailed annual disclosures on rate reconciliation and income taxes paid for specific categories and when certain quantitative thresholds are met.
January 1, 2025
The overall effect of this standard is not expected to have a material impact on our financial statements.
ASU 2024-03,
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
This ASU requires additional disclosures of certain costs and expenses in both interim and annual reporting periods, including:
•Amounts of employee compensation, depreciation, and intangible asset amortization included in certain expense lines presented on the face of the income statement within continuing operations.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
•The Bank's definition and amount of selling costs.
Annual periods beginning January 1, 2027; Interim periods beginning January 1, 2028
We are evaluating the new disclosure requirements. The overall effect of this standard is not expected to have a material impact on our financial statements.
Standards adopted by the Bank in 2024
ASU 2023-02,
Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)
This ASU expands the optional application of the proportional amortization method (“PAM”), which was previously limited to investments in low-income housing tax credit (“LIHTC”) structures. It now includes any eligible equity investments primarily made to receive income tax credits and other tax benefits, provided certain criteria are met. Under PAM, the investment cost is amortized in proportion to the income tax credits and other income tax benefits received. The amortization of the investment and the income tax credits are presented net on the consolidated statement of income as a component of income tax expense (benefit).

This ASU allows for an accounting policy election to apply PAM on a tax-credit-program-by-tax-credit-program basis. The ASU also includes additional disclosure requirements for equity investments accounted for using PAM.		January 1, 2024We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements.
Standards adopted by the Bank in 2024
ASU 2022-03,
Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
This ASU clarifies that contractual restrictions prohibiting the sale of an equity security are not included in the unit of account of the equity security, and therefore, are not considered when measuring fair value. The amendments specify that the Bank cannot recognize and measure a contractual sale restriction as a separate unit of account. Additionally, the ASU requires further qualitative and quantitative disclosures for equity securities subject to contractual sale restrictions.
January 1, 2024We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements.
ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
This ASU expands operating segment disclosures and requires all segment disclosures to be reported in both annual and interim periods. The new standard requires disclosure of the following:
•Significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) for reportable segments;
•The title and position of the CODM as well as how the CODM uses the reported measure(s) of profit and loss to assess segment performance; and
•“Other segment items” by reportable segment and a description of its composition.
Annual periods beginning January 1, 2024; Interim periods beginning January 1, 2025
We adopted the new standard on January 1, 2024. The adoption of this standard did not have a material effect on our financial statements. See Note 22 of the Notes to Consolidated Financial Statements.
v3.25.0.1
FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value by Class on a Recurring Basis
The following schedule presents assets and liabilities measured at fair value on a recurring basis:
December 31, 2024
(In millions)Level 1Level 2Level 3Total
ASSETS
Trading securities$— $35 $— $35 
Available-for-sale securities:
U.S. Treasury, agencies, and corporations662 7,300 7,962 
Municipal securities1,108 1,108 
Other debt securities25 25 
Total available-for-sale662 8,433 — 9,095 
Loans held for sale25 25 
Other noninterest-bearing investments:
Bank-owned life insurance562 562 
Private equity investments 1
3 105 108 
Other assets:
Agriculture loan servicing20 20 
Deferred compensation plan assets149 149 
Derivatives446 446 
Total assets$814 $9,501 $125 $10,440 
LIABILITIES
Fed funds and other short-term borrowings:
Securities sold, not yet purchased$21 $— $— $21 
Other liabilities:
Derivatives350 350 
Total liabilities$21 $350 $— $371 
December 31, 2023
(In millions)Level 1Level 2Level 3Total
ASSETS
Trading securities$— $48 $— $48 
Available-for-sale securities:
U.S. Treasury, agencies, and corporations492 8,467 8,959 
Municipal securities1,318 1,318 
Other debt securities23 23 
Total available-for-sale492 9,808 — 10,300 
Loans held for sale43 43 
Other noninterest-bearing investments:
Bank-owned life insurance553 553 
Private equity investments 1
3 92 95 
Other assets:
Agriculture loan servicing19 19 
Deferred compensation plan assets124 124 
Derivatives420 420 
Total assets$619 $10,872 $111 $11,602 
LIABILITIES
Fed funds and other short-term borrowings:
Securities sold, not yet purchased$65 $— $— $65 
Other liabilities:
Derivatives333 333 
Total liabilities$65 $333 $— $398 
1 The level 1 PEIs generally relate to the portion of our SBIC investments and other similar investments that are publicly traded.
Schedule of Assets and Liabilities Measured At Fair Value By Class on a Recurring Basis Using Level 3 Inputs
The following schedule presents a roll-forward of assets and liabilities that are measured at fair value on a recurring basis using Level 3 inputs:
 Level 3 Instruments
December 31, 2024December 31, 2023December 31, 2022
(In millions)Private
equity
investments		Ag loan servicingPrivate
equity
investments		Ag loan servicingPrivate
equity
investments		Ag loan servicing
Balance at beginning of year$92 $19 $81 $14 $66 $12 
Unrealized securities gains (losses), net9 — (2)— 3 — 
Other noninterest income— 1 — 5 — 2 
Purchases11 — 14 — 16 — 
Cost of investments sold(7)— (1)— (3)— 
Redemptions and paydowns— — — — — — 
Transfers out— — — — (1)— 
Balance at end of year$105 $20 $92 $19 $81 $14 
Schedule of Realized Gain (Loss)
The roll-forward of Level 3 instruments includes the following realized gains and losses recognized in “Securities gains (losses), net” on the consolidated statement of income for the periods presented:
(In millions)Year Ended December 31,
202420232022
Securities gains (losses), net$1 $(1)$(2)
Schedule of Carrying Values and Estimated Fair Values of Financial Instruments
The following schedule presents the carrying values and estimated fair values of certain financial instruments:
 December 31, 2024December 31, 2023
(In millions)Carrying
value		Fair valueLevelCarrying
value		Fair valueLevel
Financial assets:
Held-to-maturity investment securities
$9,669 $9,382 2$10,382 $10,466 2
Loans and leases (including loans held for sale), net of allowance
58,788 57,130 357,148 54,832 3
Financial liabilities:
Time deposits11,482 11,468 29,996 9,964 2
Long-term debt950 950 2542 494 2
v3.25.0.1
OFFSETTING ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Offsetting [Abstract]  
Schedule of Offsetting Assets and Liabilities
The following schedule presents gross and net information for selected financial instruments on the balance sheet:
December 31, 2024
(In millions)Gross amounts not offset on the balance sheet
DescriptionGross amounts recognizedGross amounts offset on the balance sheetNet amounts presented on the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$1,453 $— $1,453 $— $— $1,453 
Derivatives (included in Other assets)
446 — 446 (19)(404)23 
Total assets$1,899 $— $1,899 $(19)$(404)$1,476 
Liabilities:
Federal funds and other short-term borrowings
$3,832 $— $3,832 $— $— $3,832 
Derivatives (included in Other liabilities)
350 — 350 (19)(3)328 
Total liabilities$4,182 $— $4,182 $(19)$(3)$4,160 
December 31, 2023
(In millions)Gross amounts not offset on the balance sheet
DescriptionGross amounts recognizedGross amounts offset on the balance sheetNet amounts presented on the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$1,170 $(233)$937 $— $— $937 
Derivatives (included in Other assets)
420 — 420 (31)(357)32 
Total assets$1,590 $(233)$1,357 $(31)$(357)$969 
Liabilities:
Federal funds and other short-term borrowings
$4,612 $(233)$4,379 $— $— $4,379 
Derivatives (included in Other liabilities)
333 — 333 (31)(1)301 
Total liabilities$4,945 $(233)$4,712 $(31)$(1)$4,680 
Schedule of Offsetting Assets and Liabilities
The following schedule presents gross and net information for selected financial instruments on the balance sheet:
December 31, 2024
(In millions)Gross amounts not offset on the balance sheet
DescriptionGross amounts recognizedGross amounts offset on the balance sheetNet amounts presented on the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$1,453 $— $1,453 $— $— $1,453 
Derivatives (included in Other assets)
446 — 446 (19)(404)23 
Total assets$1,899 $— $1,899 $(19)$(404)$1,476 
Liabilities:
Federal funds and other short-term borrowings
$3,832 $— $3,832 $— $— $3,832 
Derivatives (included in Other liabilities)
350 — 350 (19)(3)328 
Total liabilities$4,182 $— $4,182 $(19)$(3)$4,160 
December 31, 2023
(In millions)Gross amounts not offset on the balance sheet
DescriptionGross amounts recognizedGross amounts offset on the balance sheetNet amounts presented on the balance sheetFinancial instrumentsCash collateral received/pledgedNet amount
Assets:
Federal funds sold and securities purchased under agreements to resell
$1,170 $(233)$937 $— $— $937 
Derivatives (included in Other assets)
420 — 420 (31)(357)32 
Total assets$1,590 $(233)$1,357 $(31)$(357)$969 
Liabilities:
Federal funds and other short-term borrowings
$4,612 $(233)$4,379 $— $— $4,379 
Derivatives (included in Other liabilities)
333 — 333 (31)(1)301 
Total liabilities$4,945 $(233)$4,712 $(31)$(1)$4,680 
v3.25.0.1
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Summary of Investment Securities
The following schedule presents the amortized cost and estimated fair values of our AFS and HTM securities:
December 31, 2024
(In millions)Amortized
cost
Gross
unrealized
gains 1
Gross
unrealized
losses		Estimated
fair value
Available-for-sale
U.S. Treasury securities$781 $— $119 $662 
U.S. Government agencies and corporations:
Agency securities441 — 26 415 
Agency guaranteed mortgage-backed securities7,713 1 1,263 6,451 
Small Business Administration loan-backed securities455 — 21 434 
Municipal securities1,186 — 78 1,108 
Other debt securities25 — — 25 
Total available-for-sale10,601 1 1,507 9,095 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities148 — 8 140 
Agency guaranteed mortgage-backed securities9,202 2 263 8,941 
Municipal securities319 — 18 301 
Total held-to-maturity9,669 2 289 9,382 
Total investment securities$20,270 $3 $1,796 $18,477 
December 31, 2023
(In millions)Amortized
cost
Gross
unrealized
gains 1
Gross
unrealized
losses		Estimated
fair value
Available-for-sale
U.S. Treasury securities$585 $— $93 $492 
U.S. Government agencies and corporations:
Agency securities663 — 33 630 
Agency guaranteed mortgage-backed securities8,530 — 1,239 7,291 
Small Business Administration loan-backed securities571 — 25 546 
Municipal securities1,385 — 67 1,318 
Other debt securities25 — 2 23 
Total available-for-sale11,759 — 1,459 10,300 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities93 — 6 87 
Agency guaranteed mortgage-backed securities9,935 156 50 10,041 
Municipal securities354 — 16 338 
Total held-to-maturity10,382 156 72 10,466 
Total investment securities$22,141 $156 $1,531 $20,766 
1 Gross unrealized gains for the respective AFS security categories were individually less than $1 million.
Contractual Maturities Debt Securities
The following schedule presents the amortized cost and weighted average yields of debt securities by remaining contractual maturity of principal payments at December 31, 2024. It does not incorporate interest rate resets and fair value hedges. The remaining contractual principal maturities do not reflect the duration of the portfolio, which includes amortization and expected prepayments; these effects result in measured durations shorter than contractual maturities.
December 31, 2024
Total debt securitiesDue in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years
(Dollar amounts in millions)Amortized cost
Average yield
Amortized cost
Average yield
Amortized cost
Average yield
Amortized cost
Average yield
Amortized cost
Average yield
Available-for-sale
U.S. Treasury securities$781 3.28 %$179 4.41 %$101 4.00 %$100 4.23 %$401 2.35 %
U.S. Government agencies and corporations:
Agency securities441 3.09 74 2.99 44 3.83 195 2.92 128 3.14 
Agency guaranteed mortgage-backed securities
7,713 2.02 18 1.25 105 2.04 1,390 2.09 6,200 2.00 
Small Business Administration loan-backed securities
455 4.78 1 7.46 13 5.74 122 3.91 319 5.07 
Municipal securities 1
1,186 2.27 176 3.27 315 2.53 674 1.89 21 2.30 
Other debt securities25 8.34 — — 10 9.51 — — 15 7.56 
Total available-for-sale securities10,601 2.32 448 3.61 588 2.98 2,481 2.28 7,084 2.20 
Held-to-maturity
U.S. Government agencies and corporations:
Agency securities148 4.18 — — — — — — 148 4.18 
Agency guaranteed mortgage-backed securities
9,202 1.84 — — — — 41 1.89 9,161 1.84 
Municipal securities 1
319 3.22 34 3.49 132 2.93 140 3.32 13 4.25 
Total held-to-maturity securities9,669 1.92 34 3.49 132 2.93 181 3.00 9,322 1.88 
Total investment securities$20,270 2.13 $482 3.60 $720 2.97 $2,662 2.33 $16,406 2.02 
1 The yields on tax-exempt securities are calculated on a tax-equivalent basis.
Debt Securities, Available-for-Sale
The following schedule presents gross unrealized losses for AFS securities and the estimated fair value, categorized by the length of time the securities have been in an unrealized loss position:
December 31, 2024
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Available-for-sale
U.S. Treasury securities$3 $198 $116 $285 $119 $483 
U.S. Government agencies and corporations:
Agency securities— 3 26 403 26 406 
Agency guaranteed mortgage-backed securities— 86 1,263 6,171 1,263 6,257 
Small Business Administration loan-backed securities— 35 21 387 21 422 
Municipal securities— 68 78 984 78 1,052 
Other— — — — — — 
Total available-for-sale investment securities$3 $390 $1,504 $8,230 $1,507 $8,620 
December 31, 2023
Less than 12 months12 months or moreTotal
(In millions)Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value		Gross
unrealized
losses		Estimated
fair
value
Available-for-sale
U.S. Treasury securities$— $— $93 $308 $93 $308 
U.S. Government agencies and corporations:
Agency securities— 5 33 605 33 610 
Agency guaranteed mortgage-backed securities71 312 1,168 6,902 1,239 7,214 
Small Business Administration loan-backed securities— 4 25 484 25 488 
Municipal securities2 229 65 1,061 67 1,290 
Other— — 2 13 2 13 
Total available-for-sale investment securities$73 $550 $1,386 $9,373 $1,459 $9,923 
Gains and Losses, Including OTTI, Recognized in Statement of Income
The following schedule presents investment securities gains and losses recognized in income:
202420232022
(In millions)Gross
gains		Gross
losses		Gross
gains		Gross
losses		Gross
gains		Gross
losses
Available-for-sale$— $— $72 $72 $— $— 
Interest Income by Security Type
The following schedule presents interest income categorized by investment security type:
(In millions)202420232022
TaxableNontaxableTotalTaxableNontaxableTotalTaxableNontaxableTotal
Available-for-sale$294 $31 $325 $291 $31 $322 $411 $40 $451 
Held-to-maturity218 4 222 236 3 239 42 4 46 
Total investment securities$512 $35 $547 $527 $34 $561 $453 $44 $497 
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Summary of Major Portfolio Segment and Specific Loan Class
The following schedule presents our loan and lease portfolio according to major portfolio segment and specific class:
December 31,
(In millions)20242023
Loans held for sale$74 $53 
Commercial:
Commercial and industrial$16,891 $16,684 
Leasing377 383 
Owner-occupied9,333 9,219 
Municipal4,364 4,302 
Total commercial30,965 30,588 
Commercial real estate:
Construction and land development2,774 2,669 
Term10,703 10,702 
Total commercial real estate13,477 13,371 
Consumer:
Home equity credit line3,641 3,356 
1-4 family residential9,939 8,415 
Construction and other consumer real estate810 1,442 
Bankcard and other revolving plans457 474 
Other121 133 
Total consumer14,968 13,820 
Total loans and leases
$59,410 $57,779 
Loans Held For Sale The following schedule presents loans added to, or sold from, the held for sale category during the periods presented:
Twelve Months Ended
December 31,
(In millions)20242023
Loans added to held for sale$922 $678 
Loans sold from held for sale899 632 
Summary of Changes in the Allowance for Credit Losses
The following schedule presents a roll forward of the ACL categorized by loan portfolio segment:
December 31, 2024
(In millions)
 
CommercialCommercial
real estate		ConsumerTotal
Allowance for loan and lease losses
Balance at beginning of year$302 $241 $141 $684 
Provision for loan losses51 67 (46)72 
Gross loan and lease charge-offs68 11 12 91 
Recoveries23 3 5 31 
Net loan and lease charge-offs (recoveries)45 8 7 60 
Balance at end of year$308 $300 $88 $696 
Reserve for unfunded lending commitments
Balance at beginning of year$19 $17 $9 $45 
Provision for unfunded lending commitments7 (6)(1)— 
Balance at end of year$26 $11 $8 $45 
Total allowance for credit losses
Allowance for loan and lease losses$308 $300 $88 $696 
Reserve for unfunded lending commitments26 11 8 45 
Total allowance for credit losses$334 $311 $96 $741 
December 31, 2023
(In millions)CommercialCommercial
real estate		ConsumerTotal
Allowance for loan and lease losses
Balance at beginning of year$300 $152 $120 $572 
Provision for loan losses27 92 29 148 
Gross loan and lease charge-offs45 3 14 62 
Recoveries20 — 6 26 
Net loan and lease charge-offs (recoveries)25 3 8 36 
Balance at end of year$302 $241 $141 $684 
Reserve for unfunded lending commitments
Balance at beginning of year$16 $33 $12 $61 
Provision for unfunded lending commitments3 (16)(3)(16)
Balance at end of year$19 $17 $9 $45 
Total allowance for credit losses
Allowance for loan and lease losses$302 $241 $141 $684 
Reserve for unfunded lending commitments19 17 9 45 
Total allowance for credit losses$321 $258 $150 $729 
Summary of Nonaccrual Loans The following schedule presents the amortized cost basis of loans on nonaccrual:
December 31, 2024
Amortized cost basisTotal amortized cost basis
(In millions)with no allowancewith allowanceRelated allowance
Commercial:
Commercial and industrial$45 $69 $114 $19 
Leasing— 2 2 1 
Owner-occupied18 13 31 1 
Municipal5 6 11 2 
Total commercial68 90 158 23 
Commercial real estate:
Term27 32 59 4 
Total commercial real estate27 32 59 4 
Consumer:
Home equity credit line5 25 30 5 
1-4 family residential12 37 49 4 
Bankcard and other revolving plans— 1 1 1 
Total consumer loans17 63 80 10 
Total$112 $185 $297 $37 
December 31, 2023
Amortized cost basisTotal amortized cost basis
(In millions)with no allowancewith allowanceRelated allowance
Commercial:
Commercial and industrial$11 $71 $82 $30 
Leasing— 2 2 1 
Owner-occupied12 8 20 1 
Total commercial23 81 104 32 
Commercial real estate:
Construction and land development22 — 22 — 
Term37 2 39 1 
Total commercial real estate59 2 61 1 
Consumer:
Home equity credit line1 16 17 5 
1-4 family residential8 32 40 5 
Total consumer loans9 48 57 10 
Total$91 $131 $222 $43 
The following schedule presents the amount of accrued interest receivables reversed from interest income categorized by loan portfolio segment during the periods presented:
Twelve Months Ended
December 31,
(In millions)202420232022
Commercial$16 $10 $12 
Commercial real estate5 3 1 
Consumer4 2 — 
Total$25 $15 $13 
Summary of Past Due Loans (Accruing and Nonaccruing)
The following schedules present loans categorized by their past-due or delinquency status:
December 31, 2024
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
loans		Accruing
loans
90+ days
past due
Nonaccrual
loans
that are
current1
Commercial:
Commercial and industrial$16,857 $20 $14 $34 $16,891 $1 $98 
Leasing377 — — — 377 — 2 
Owner-occupied9,309 10 14 24 9,333 3 16 
Municipal4,348 6 10 16 4,364 10 11 
Total commercial30,891 36 38 74 30,965 14 127 
Commercial real estate:
Construction and land development
2,774 — — — 2,774 — — 
Term10,667 2 34 36 10,703 3 28 
Total commercial real estate13,441 2 34 36 13,477 3 28 
Consumer:
Home equity credit line3,609 20 12 32 3,641 — 13 
1-4 family residential9,896 16 27 43 9,939 — 15 
Construction and other consumer real estate
810 — — — 810 — 
Bankcard and other revolving plans
453 2 2 4 457 1 — 
Other121 — — — 121 — — 
Total consumer loans14,889 38 41 79 14,968 1 28 
Total$59,221 $76 $113 $189 $59,410 $18 $183 
December 31, 2023
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
loans		Accruing
loans
90+ days
past due
Nonaccrual
loans
that are
current1
Commercial:
Commercial and industrial$16,631 $38 $15 $53 $16,684 $1 $65 
Leasing381 2 — 2 383 — — 
Owner-occupied9,206 11 2 13 9,219 1 18 
Municipal4,301 1 — 1 4,302 — — 
Total commercial30,519 52 17 69 30,588 2 83 
Commercial real estate:
Construction and land development
2,645 2 22 24 2,669 — — 
Term10,661 14 27 41 10,702 — 3 
Total commercial real estate13,306 16 49 65 13,371 — 3 
Consumer:
Home equity credit line3,334 17 5 22 3,356 — 9 
1-4 family residential8,375 17 23 40 8,415 — 13 
Construction and other consumer real estate
1,442 — — — 1,442 — — 
Bankcard and other revolving plans
468 5 1 6 474 1 — 
Other132 1 — 1 133 — — 
Total consumer loans13,751 40 29 69 13,820 1 22 
Total$57,576 $108 $95 $203 $57,779 $3 $108 
1 Represents nonaccrual loans that are not past due more than 30 days; however, full payment of principal and interest is not expected.
Summary of Outstanding Loan Balances (Accruing and Nonaccruing) Categorized by Credit Quality Indicators
The following schedules present the amortized cost of loans and leases categorized by year of origination and by credit quality classifications as monitored by management:
December 31, 2024
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20242023202220212020PriorTotal
Commercial:
Commercial and industrial
Pass$2,479 $1,951 $1,504 $759 $387 $679 $8,043 $150 $15,952 
Special Mention37 24 47 8 2 34 85 5 242 
Accruing Substandard53 43 200 26 28 21 200 12 583 
Nonaccrual7 13 31 17 1 4 38 3 114 
Total commercial and industrial2,576 2,031 1,782 810 418 738 8,366 170 16,891 
Leasing
Pass109 79 94 26 12 36 — — 356 
Special Mention— — 2 — — — — — 2 
Accruing Substandard1 3 10 2 1 — — — 17 
Nonaccrual— 1 1 — — — — — 2 
Total leasing110 83 107 28 13 36 — — 377 
Owner-occupied
Pass1,346 907 1,606 1,657 900 2,097 234 47 8,794 
Special Mention38 — 38 31 2 18 18 1 146 
Accruing Substandard23 28 75 66 25 133 7 5 362 
Nonaccrual5 1 4 1 — 15 5 — 31 
Total owner-occupied1,412 936 1,723 1,755 927 2,263 264 53 9,333 
Municipal
Pass604 498 939 960 553 753 — 29 4,336 
Special Mention— — — — — — — — 
Accruing Substandard10 4 — — — 3 — — 17 
Nonaccrual3 — — 5 — 3 — — 11 
Total municipal617 502 939 965 553 759 — 29 4,364 
Total commercial4,715 3,552 4,551 3,558 1,911 3,796 8,630 252 30,965 
December 31, 2024
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20242023202220212020PriorTotal
Commercial real estate:
Construction and land development
Pass361 701 445 4 1 9 680 52 2,253 
Special Mention— 22 21 17 — — — 25 85 
Accruing Substandard57 52 249 78 — — — — 436 
Nonaccrual— — — — — — — — — 
Total construction and land development418 775 715 99 1 9 680 77 2,774 
Term
Pass1,687 1,198 2,093 1,278 1,053 1,608 254 175 9,346 
Special Mention48 — 87 — — 5 — — 140 
Accruing Substandard298 105 443 144 13 102 27 26 1,158 
Nonaccrual— — 23 — — 10 — 26 59 
Total term2,033 1,303 2,646 1,422 1,066 1,725 281 227 10,703 
Total commercial real estate2,451 2,078 3,361 1,521 1,067 1,734 961 304 13,477 
Consumer:
Home equity credit line
Pass— — — — — — 3,506 99 3,605 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 6 — 6 
Nonaccrual— — — — — — 22 8 30 
Total home equity credit line— — — — — — 3,534 107 3,641 
1-4 family residential
Pass1,062 870 2,959 1,877 925 2,197 — — 9,890 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— 3 8 9 2 27 — — 49 
Total 1-4 family residential1,062 873 2,967 1,886 927 2,224 — — 9,939 
Construction and other consumer real estate
Pass157 191 420 34 5 3 — — 810 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total construction and other consumer real estate157 191 420 34 5 3 — — 810 
Bankcard and other revolving plans
Pass— — — — — — 453 1 454 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 2 — 2 
Nonaccrual— — — — — — 1 — 1 
Total bankcard and other revolving plans— — — — — — 456 1 457 
Other consumer
Pass52 35 22 8 2 2 — — 121 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total other consumer52 35 22 8 2 2 — — 121 
Total consumer1,271 1,099 3,409 1,928 934 2,229 3,990 108 14,968 
Total loans$8,437 $6,729 $11,321 $7,007 $3,912 $7,759 $13,581 $664 $59,410 
December 31, 2023
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20232022202120202019PriorTotal
Commercial:
Commercial and industrial
Pass$2,654 $2,420 $1,204 $639 $494 $598 $7,973 $151 $16,133 
Special Mention8 98 34 2 20 37 103 — 302 
Accruing Substandard11 18 7 2 19 8 99 3 167 
Nonaccrual5 36 1 2 11 1 21 5 82 
Total commercial and industrial2,678 2,572 1,246 645 544 644 8,196 159 16,684 
Leasing
Pass104 125 47 29 45 18 — — 368 
Special Mention2 9 1 1 — — — — 13 
Accruing Substandard— — — — — — — — — 
Nonaccrual— 2 — — — — — — 2 
Total leasing106 136 48 30 45 18 — — 383 
Owner-occupied
Pass1,080 1,945 2,020 1,002 721 1,907 212 52 8,939 
Special Mention2 5 17 5 17 15 — — 61 
Accruing Substandard10 31 29 21 16 90 2 — 199 
Nonaccrual— 1 1 7 3 8 — — 20 
Total owner-occupied1,092 1,982 2,067 1,035 757 2,020 214 52 9,219 
Municipal
Pass601 1,080 1,069 623 382 512 — 3 4,270 
Special Mention7 — — — — 6 — — 13 
Accruing Substandard8 — 6 3 1 1 — — 19 
Nonaccrual— — — — — — — — — 
Total municipal616 1,080 1,075 626 383 519 — 3 4,302 
Total commercial4,492 5,770 4,436 2,336 1,729 3,201 8,410 214 30,588 
Commercial real estate:
Construction and land development
Pass553 938 355 56 7 4 518 127 2,558 
Special Mention— — 29 30 — — — — 59 
Accruing Substandard23 2 — 5 — — — — 30 
Nonaccrual— — — — 21 — 1 — 22 
Total construction and land development576 940 384 91 28 4 519 127 2,669 
Term
Pass1,861 2,385 1,833 1,449 804 1,438 238 110 10,118 
Special Mention55 108 65 78 44 6 — — 356 
Accruing Substandard79 18 12 16 5 24 — 35 189 
Nonaccrual— 26 — — 3 10 — — 39 
Total term1,995 2,537 1,910 1,543 856 1,478 238 145 10,702 
Total commercial real estate2,571 3,477 2,294 1,634 884 1,482 757 272 13,371 
December 31, 2023
Term LoansRevolving loans amortized cost basisRevolving loans converted to term loans amortized cost basis
Amortized cost basis by year of origination
(In millions)20232022202120202019PriorTotal
Consumer:
Home equity credit line
Pass— — — — — — 3,237 97 3,334 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 4 1 5 
Nonaccrual— — — — — — 15 2 17 
Total home equity credit line— — — — — — 3,256 100 3,356 
1-4 family residential
Pass814 2,264 1,823 988 594 1,891 — — 8,374 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — 1 — — 1 
Nonaccrual— 3 3 3 4 27 — — 40 
Total 1-4 family residential814 2,267 1,826 991 598 1,919 — — 8,415 
Construction and other consumer real estate
Pass212 1,002 200 15 7 6 — — 1,442 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total construction and other consumer real estate212 1,002 200 15 7 6 — — 1,442 
Bankcard and other revolving plans
Pass— — — — — — 471 1 472 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — 2 — 2 
Nonaccrual— — — — — — — — — 
Total bankcard and other revolving plans— — — — — — 473 1 474 
Other consumer
Pass66 37 18 6 4 2 — — 133 
Special Mention— — — — — — — — — 
Accruing Substandard— — — — — — — — — 
Nonaccrual— — — — — — — — — 
Total other consumer66 37 18 6 4 2 — — 133 
Total consumer1,092 3,306 2,044 1,012 609 1,927 3,729 101 13,820 
Total loans$8,155 $12,553 $8,774 $4,982 $3,222 $6,610 $12,896 $587 $57,779 
The following schedules present gross charge-offs categorized by year of loan origination for the periods presented:
December 31, 2024
Term loansRevolving loans
gross charge-offs		Revolving loans converted to term loans gross charge-offs
Gross charge-offs by year of loan origination
(In millions)20242023202220212020PriorTotal
Commercial:
Commercial and industrial$— $3 $19 $2 $— $9 $30 $4 $67 
Owner-occupied— — 1 — — — — — 1 
Total commercial— 3 20 2 — 9 30 4 68 
Commercial real estate:
Term— 7 4 — — — — — 11 
Consumer:
Home equity credit line— — — — — — 1 — 1 
1-4 family residential— — — — — 1 — — 1 
Bankcard and other revolving plans— — — — — — 8 — 8 
Other— — — — — 2 — — 2 
Total consumer— — — — — 3 9 — 12 
Total gross charge-offs$— $10 $24 $2 $— $12 $39 $4 $91 
December 31, 2023
Term loansRevolving loans
gross charge-offs		Revolving loans converted to term loans gross charge-offs
Gross charge-offs by year of loan origination
(In millions)20232022202120202019PriorTotal
Commercial:
Commercial and industrial$1 $10 $6 $— $— $2 $24 $2 $45 
Commercial real estate:
Construction and land development— — — — 1 — — — 1 
Term— 2 — — — — — — 2 
Total commercial real estate— 2 — — 1 — — — 3 
Consumer:
Home equity credit line— — — — — — 3 — 3 
1-4 family residential— — — — — 2 — — 2 
Bankcard and other revolving plans— — — — — — 9 — 9 
Total consumer— — — — — 2 12 — 14 
Total gross charge-offs$1 $12 $6 $— $1 $4 $36 $2 $62 
Summary of TDRs (Accruing and Nonaccruing) Categorized by Loan Class and Modification Type
The following schedule presents the amortized cost of loans to borrowers experiencing financial difficulty that were modified during the period, categorized by loan class and modification type:
Twelve Months Ended December 31, 2024
Amortized cost associated with
the following modification types:
(Dollar amounts in millions)Interest
rate reduction		Maturity
or term
extension		Principal
forgiveness		Payment
deferral
Multiple modification types 1
Total 2
Percentage of total loans 3
Commercial:
Commercial and industrial$19 $37 $— $1 $48 $105 0.6 %
Owner-occupied— 12 — — — 12 0.1 
Municipal— 11 — — — 11 0.3 
Total commercial19 60 — 1 48 128 0.4 
Commercial real estate:
Construction and land development
— 18 — — 25 43 1.6 
Term— 179 — — 110 289 2.7 
Total commercial real estate— 197 — — 135 332 2.5 
Consumer:
Home equity credit line— — 1 — 1 2 0.1 
1-4 family residential— — 2 — 5 7 0.1 
Bankcard and other revolving plans
— — — — 1 1 0.2 
Total consumer loans— — 3 — 7 10 0.1 
Total$19 $257 $3 $1 $190 $470 0.8 
Twelve Months Ended December 31, 2023
Amortized cost associated with
the following modification types:
(Dollar amounts in millions)Interest
rate reduction		Maturity
or term
extension		Principal
forgiveness		Payment
deferral
Multiple modification types 1
Total 2
Percentage of total loans 3
Commercial:
Commercial and industrial$— $46 $— $1 $— $47 0.3 %
Owner-occupied4 9 — 1 — 14 0.2 
Municipal— 8 — — — 8 0.2 
Total commercial4 63 — 2 — 69 0.2 
Commercial real estate:
Construction and land development
— 27 — — — 27 1.0 
Term— 165 — — — 165 1.5 
Total commercial real estate— 192 — — — 192 1.4 
Consumer:
1-4 family residential— — 1 — 1 2 — 
Bankcard and other revolving plans
— 1 — — — 1 0.2 
Total consumer loans— 1 1 — 1 3 — 
Total$4 $256 $1 $2 $1 $264 0.5 
1 Includes modifications that resulted from a combination of interest rate reduction, maturity or term extension, principal forgiveness, and payment deferral modifications. At December 31, 2024, $185 million included in multiple modification types were both interest rate reductions and maturity or term extensions.
2 Unfunded lending commitments related to loans modified to borrowers experiencing financial difficulty totaled $11 million and $22 million at December 31, 2024 and 2023, respectively.
3 Amounts less than 0.05% are rounded to zero.
The following schedule presents the financial impact of loan modifications to borrowers experiencing financial difficulty during the twelve months ended December 31, 2024 and 2023:
Twelve Months Ended
December 31, 2024		Twelve Months Ended
December 31, 2023
Weighted-average interest rate reduction (in percentage points)Weighted-average term extension
(in months)		Weighted-average interest rate reduction (in percentage points)Weighted-average term extension
(in months)
Commercial:
Commercial and industrial0.7 %7— %13
Owner-occupied 1
— 124.4 18
Municipal— 19— 12
Total commercial0.7 94.4 14
Commercial real estate:
Construction and land development
0.2 9— 8
Term0.6 9— 18
Total commercial real estate0.5 9— 16
Consumer: 1
Home equity credit line5.6 39— 0
1-4 family residential1.7 36— 103
Bankcard and other revolving plans
0.3 3— 50
Total consumer loans2.7 32— 82
Total weighted average financial impact0.6 104.4 16
1 Primarily relates to a small number of loans within each respective loan class.
The following schedule presents the aging of loans to borrowers experiencing financial difficulty that were modified on or after January 1, 2023 (the date we adopted ASU 2022-02) through December 31, 2024, categorized by portfolio segment and loan class.
December 31, 2024
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
amortized cost of loans
Commercial:
Commercial and industrial$102 $2 $1 $3 $105 
Owner-occupied11 1 — 1 12 
Municipal3 — 8 8 11 
Total commercial116 3 9 12 128 
Commercial real estate:
Construction and land development
43 — — — 43 
Term289 — — — 289 
Total commercial real estate332 — — — 332 
Consumer:
Home equity credit line2 — — — 2 
1-4 family residential6 1 — 1 7 
Bankcard and other revolving plans
1 — — — 1 
Total consumer loans9 1 — 1 10 
Total$457 $4 $9 $13 $470 

December 31, 2023
(In millions)Current30-89 days
past due		90+ days
past due		Total
past due		Total
amortized cost of loans
Commercial:
Commercial and industrial$44 $3 $— $3 $47 
Owner-occupied13 1 — 1 14 
Municipal8 — — — 8 
Total commercial65 4 — 4 69 
Commercial real estate:
Construction and land development
27 — — — 27 
Term156 9 — 9 165 
Total commercial real estate183 9 — 9 192 
Consumer:
1-4 family residential2 — — — 2 
Bankcard and other revolving plans
1 — — — 1 
Total consumer loans3 — — — 3 
Total$251 $13 $— $13 $264 
Summary of Collateral-Dependent Loans
The following schedules present select information on loans for which the repayment is expected to be provided substantially through the operation or sale of the underlying collateral and the borrower is experiencing financial difficulties, including the type of collateral and the extent to which the collateral secures the loans:
December 31, 2024
(In millions)Amortized CostMajor Types of Collateral
Weighted Average LTV1
Commercial:
Owner occupied$6 Retail Facility64%
Municipal5 Multifamily Apartments174%
Commercial real estate:
Term49 Office Building98%
Consumer:
Home equity credit line3 Single Family Residential38%
1-4 family residential3 Single Family Residential29%
Total$66 
December 31, 2023
(In millions)Amortized CostMajor Types of Collateral
Weighted Average LTV1
Commercial:
Owner-occupied$7 Hospital17%
Commercial real estate:
Construction and land development22 Office Building92%
Term28 Office Building87%
Total$57 
1 The fair value is based on the most recent appraisal or other collateral evaluation.
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Summary of Derivative Instruments [Abstract]  
Schedule of Derivative Amounts
The following schedule presents derivative notional amounts and recorded gross fair values at December 31, 2024 and 2023:
December 31, 2024December 31, 2023
Notional
amount		Fair valueNotional
amount		Fair value
(In millions)Other
assets		Other
liabilities		Other
assets		Other
liabilities
Derivatives designated as hedging instruments:
Cash flow hedges of floating-rate assets:
Receive-fixed interest rate swaps
$550 $— $2 $1,450 $— $— 
Cash flow hedges of floating rate liabilities:
Pay-fixed interest rate swaps500 — — 500 — — 
Fair value hedges:
Debt hedges: Receive-fixed interest rate swaps500 — — — — — 
Asset hedges: Pay-fixed interest rate swaps 1
4,668 93 — 4,571 78 — 
Total derivatives designated as hedging instruments6,218 93 2 6,521 78 — 
Derivatives not designated as hedging instruments:
Customer interest rate derivatives 2
16,833 348 346 14,375 337 330 
Other interest rate derivatives1,105 1 — 1,001 1 — 
Foreign exchange derivatives373 4 2 216 3 3 
Purchased credit derivatives24 — — 35 1 — 
Total derivatives not designated as hedging instruments
18,335 353 348 15,627 342 333 
Total derivatives$24,553 $446 $350 $22,148 $420 $333 
1 The notional amount includes forward-starting swaps that are not yet effective.
2 Customer interest rate derivatives include both customer-facing and offsetting dealer-facing derivatives. These derivatives include a net CVA of $9 million at both December 31, 2024 and December 31, 2023, which reduces the fair value. These adjustments are necessary to reflect our nonperformance risk as well as that of the respective counterparty.
Schedule of Derivative Gains (Losses) Deferred in OCI or Recognized in Earnings
The following schedules present the amount of gains (losses) from derivative instruments designated as cash flow and fair value hedges that were deferred in AOCI or recognized in earnings for years ended December 31, 2024 and 2023:
Year Ended December 31, 2024
(In millions)Effective portion of derivative gain/(loss) deferred in AOCIAmount of gain/(loss) reclassified from AOCI into incomeInterest on fair value hedgesHedge ineffectiveness / AOCI reclass due to missed forecast
Cash flow hedges of floating-rate assets: 1
Receive-fixed interest rate swaps$(8)$(126)$— $— 
Cash flow hedges of floating-rate liabilities:
Pay-fixed interest rate swaps4 8 — — 
Fair value hedges: 2
Debt hedges: Receive-fixed interest rate swaps— — (8)— 
Asset hedges: Pay-fixed interest rate swaps— — 88 (1)
Total derivatives designated as hedging instruments
$(4)$(118)$80 $(1)
Year Ended December 31, 2023
(In millions)Effective portion of derivative gain/(loss) deferred in AOCIAmount of gain/(loss) reclassified from AOCI into incomeInterest on fair value hedgesHedge ineffectiveness / AOCI reclass due to missed forecast
Cash flow hedges of floating-rate assets: 1
Receive-fixed interest rate swaps$31 $(170)$— $— 
Cash flow hedges of floating-rate liabilities:
Pay-fixed interest rate swaps4 5 — — 
Fair value hedges: 2
Debt hedges: Receive-fixed interest rate swaps— — (9)— 
Asset hedges: Pay-fixed interest rate swaps— — 58 — 
Total derivatives designated as hedging instruments
$35 $(165)$49 $— 
1 For the 12 months following December 31, 2024, we estimate that $63 million of net losses from active and terminated cash flow hedges will be reclassified from AOCI into interest income/expense, compared with an estimate of $118 million at December 31, 2023.
2 We had cumulative unamortized basis adjustments from terminated fair value hedges of debt totaling $39 million and $46 million at December 31, 2024 and 2023, respectively. Additionally, we had $3 million of cumulative unamortized basis adjustments from terminated fair value hedges of assets at both December 31, 2024 and 2023. Interest on fair value hedges presented above includes the amortization of the remaining unamortized basis adjustments.
Schedule of Gains (Losses) Recognized From Derivatives Not Designated As Accounting Hedges
The following schedule presents the amount of gains (losses) recognized from derivatives not designated as accounting hedges:
Other Noninterest
Income/(Expense)
(In millions)20242023
Derivatives not designated as hedging instruments:
Customer interest rate derivatives
$30 $17 
Other interest rate derivatives1 4 
Foreign exchange derivatives29 29 
Purchased credit derivatives— (1)
Total derivatives not designated as hedging instruments
$60 $49 
Schedule of Fair Value Hedges
The following schedule presents derivatives used in fair value hedge accounting relationships, along with the pre-tax gains/(losses) recorded on these derivatives and the related hedged items for the periods presented:
Gain/(loss) recorded in income
Twelve Months Ended
December 31, 2024		Twelve Months Ended
December 31, 2023
(In millions)
Derivatives 2
Hedged itemsTotal income statement impact
Derivatives 2
Hedged itemsTotal income statement impact
Fair value hedges:
Debt: Receive-fixed interest rate swaps 1,2
$(7)$7 $— $14 $(14)$— 
Assets: Pay-fixed interest rate swaps 1,2
108 (109)(1)(22)22 — 
1 Includes hedges of benchmark interest rate risk for fixed-rate long-term debt, fixed-rate AFS securities and fixed-rate commercial loans. Gains and losses were recorded in interest expense or income consistent with the hedged items.
2 The income/expense for derivatives does not reflect interest income/expense from periodic accruals and payments, to maintain consistency with the presentation of the gains/(losses) on the hedged items. Periodic interest income/expense for fair value hedges is shown in a separate schedule above.
Schedule of Basis Adjustments for Hedged Items
The following schedule presents information regarding basis adjustments for hedged items in fair value hedging relationships:
Par value of hedged assets/(liabilities)Carrying amount of the hedged assets/(liabilities)Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities)
(In millions)202420232024202320242023
Fair value hedges:
Debt: Receive-fixed interest rate swaps 1
$(500)$— $(493)$— $7 $— 
Assets: Pay-fixed interest rate swaps 1,2
11,388 12,389 11,099 12,209 (289)(180)
1 Carrying amounts exclude (1) issuance and purchase discounts or premiums, (2) unamortized issuance and acquisition costs, and (3) amounts related to terminated fair value hedges.
2 Includes the amortized cost basis of defined portfolios of AFS securities and commercial loans used to designate hedging relationships, where the hedged item is the stated amount of assets in the defined portfolio anticipated to be outstanding for the designated hedged period. At December 31, 2024, the amortized cost basis of the defined portfolios used in these hedging relationships was $10.2 billion; the cumulative basis adjustment associated with these hedging relationships was $41 million, and the notional amounts of the designated hedging instruments were $3.5 billion.
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Related Assets and Liabilities
The following schedule presents ROU assets and lease liabilities with associated weighted average remaining life and discount rate:
December 31,
(Dollar amounts in millions)20242023
Operating leases
ROU assets, net of amortization$188$172
Lease liabilities240198
Finance leases
ROU assets, net of amortization33
Lease liabilities44
Weighted average remaining lease term (years)
Operating leases9.98.7
Finance leases15.616.5
Weighted average discount rate
Operating leases3.8 %3.4 %
Finance leases3.1 %3.1 %
Lease Expense
The following schedule presents additional information related to lease expense:
Year Ended December 31,
(In millions)202420232022
Lease expense:
Operating lease expense$40 $43 $46 
Other expenses associated with operating leases 1
62 60 51 
Total lease expense$102 $103 $97 
Related cash disbursements for operating leases$43 $49 $50 
1 Other expenses primarily include property taxes and building and property maintenance.
Lease Maturity Analysis
The following schedule presents the total contractual undiscounted lease payments for operating lease liabilities by expected due date for each of the next five years:
(In millions)Total undiscounted lease payments
2025$40 
202636 
202727 
202828 
202925 
Thereafter140 
Total lease payments296 
Less imputed interest56 
Total$240 
v3.25.0.1
PREMISES, EQUIPMENT AND SOFTWARE (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Premises, Equipment and Software, Net
The following schedule presents the components of our premises, equipment, and software, including the accumulated depreciation and amortization:
(In millions)December 31,
20242023
Land$284 $269 
Buildings980 959 
Furniture and equipment337 336 
Leasehold improvements139 137 
Software585 749 
Total premises, equipment, and software 1
2,325 2,450 
Less accumulated depreciation and amortization959 1,050 
Net book value$1,366 $1,400 
1 The totals for 2024 and 2023 include $51 million and $40 million, respectively, of capitalized costs that are not yet depreciating, as the respective assets have not been placed in service.
v3.25.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following schedule presents the carrying amount of goodwill for our business segments with goodwill, as well as the balance of our core deposits and other intangible assets, net of related accumulated amortization:
December 31,
(In millions)20242023
Goodwill:
Amegy$615 $615 
CB&T379 379 
Zions Bank20 20 
Nevada State Bank13 13 
Total goodwill1,027 1,027 
Core deposits and other intangibles, net of accumulated amortization25 32 
Total goodwill and intangibles$1,052 $1,059 
v3.25.0.1
DEPOSITS (Tables)
 12 Months Ended
Dec. 31, 2024
Deposits [Abstract]  
Deposits By Category
The following schedule presents the composition of our deposits:
December 31,
(Dollar amounts in millions)20242023
Noninterest-bearing demand$24,704 $26,244 
Interest-bearing:
Savings and money market40,037 38,721 
Time11,482 9,996 
Total deposits$76,223 $74,961 
Schedule of Maturities of All Time Deposits
The following schedule presents the aggregate amount of all time deposits by maturity at December 31, 2024:
(In millions)December 31, 2024
2025$11,327 
202688 
202729 
202818 
202919 
Thereafter1 
Total$11,482 
The following schedule presents the amount of time deposits that exceed $250,000 by scheduled maturity at December 31, 2024:
(In millions)December 31, 2024
Three months or less$1,287 
After three months through six months1,160 
After six months through twelve months391 
After twelve months47 
Total$2,885 
v3.25.0.1
SHORT-TERM BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2024
Short-Term Debt [Abstract]  
Summary of Short-Term Borrowings
The following schedule presents selected information for FHLB advances and other short-term borrowings:
(Dollar amounts in millions)20242023
Federal Home Loan Bank advances
Average amount outstanding$1,665 $4,208 
Average rate4.89 %5.73 %
Highest month-end balance$2,525 $11,525 
Year-end balance2,525 1,525 
Average rate on outstanding advances at year-end4.78 %5.59 %
Other short-term borrowings, year-end balances
Federal funds purchased$108 $597 
Security repurchase agreements764 1,814 
Securities sold, not yet purchased20 65 
Swap margin collateral received 415 378 
Total federal funds and other short-term borrowings$3,832 $4,379 
v3.25.0.1
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2024
Long-Term Debt, Unclassified [Abstract]  
Schedule of Long-Term Debt
The following schedule presents the components of our long-term debt:
December 31,
(In millions)20242023
Subordinated notes$946 $538 
Finance lease obligations4 4 
Total$950 $542 
Schedule of Subordinated Notes
The following schedule presents our subordinated notes outstanding at December 31, 2024:
(Dollar amounts in millions)Subordinated notes
Coupon rateCarrying valuePar amountMaturity
3.25%$458 $500 October 2029
6.82%488 500 November 2035
Total$946 $1,000 
Schedule of Maturities of Long-term Debt
The following schedule presents the carrying value of our long-term debt by maturity for each of the next five years:
December 31, 2024
(In millions)20252026202720282029ThereafterTotal
Subordinated notes$— $— $— $— $458 $488 $946 
Finance lease obligations— — — — — 4 4 
Total$— $— $— $— $458 $492 $950 
v3.25.0.1
SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Summary of Preferred Stock
The following schedule presents the components of our preferred stock:
(Dollar amounts in millions)Carrying value at
December 31,		Shares at
December 31, 2024		Dividends payableEarliest
redemption date
20242023AuthorizedOutstandingRate
Series A$66 $66 140,000 66,139 
> of 4.0% or
3M Term SOFR + 0.78%
Qtrly Mar, Jun, Sep, Dec Dec 15, 2011
Series G— 139 200,000 — 
annual floating rate =
3M Term SOFR + 4.50%
Qtrly Mar, Jun, Sep, Dec N/A
Series I— 99 300,893 — 
annual floating rate =
3M Term SOFR + 4.06%
Qtrly Mar, Jun, Sep, DecN/A
Series J— 136 195,152 — 
annual floating rate =
3M Term SOFR + 4.70%
Qtrly Mar, Jun, Sep, DecN/A
Total$66 $440 
Schedule of Changes in Accumulated Other Comprehensive Income
The following schedule presents the changes in AOCI:
(In millions)
Net unrealized gains (losses) on investment securitiesNet unrealized gains (losses) on derivatives and otherPension and post-retirementTotal
2024
Balance at December 31, 2023$(2,526)$(165)$(1)$(2,692)
Other comprehensive income before reclassifications, net of tax
31 (2)— 29 
Amounts reclassified from AOCI, net of tax194 89 — 283 
Other comprehensive income225 87 — 312 
Balance at December 31, 2024$(2,301)$(78)$(1)$(2,380)
Income tax expense included in other comprehensive income
$74 $28 $— $102 
2023
Balance at December 31, 2022$(2,800)$(311)$(1)$(3,112)
Other comprehensive income before reclassifications, net of tax
66 22 — 88 
Amounts reclassified from AOCI, net of tax208 124 — 332 
Other comprehensive income 274 146 — 420 
Balance at December 31, 2023$(2,526)$(165)$(1)$(2,692)
Income tax expense included in other comprehensive income
$90 $47 $— $137 
Schedule of Reclassification out of Accumulated Other Comprehensive Income
(In millions)
Amounts reclassified from AOCI
Affected line item
 on statement of income
AOCI components202420232022
Net unrealized losses on investment securities$(257)$(276)$(53)Securities gains (losses), net
Less: Income tax expense benefit(63)(68)(13)
$(194)$(208)$(40)
Net unrealized losses on derivative instruments
$(118)$(165)$(27)Interest and fees on loans; Interest on short- and long-term borrowings
Less: Income tax benefit(29)(41)(6)
$(89)$(124)$(21)
v3.25.0.1
REGULATORY MATTERS (Tables)
 12 Months Ended
Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Summary of Actual Capital Amounts and Capital Ratios
The following schedule presents our capital amounts and ratios and the minimum requirements to be well capitalized under Basel III at December 31, 2024 and 2023:
(Dollar amounts in millions)December 31, 2024
Minimum requirement to be “well capitalized”
AmountRatioAmountRatio
Basel III Regulatory Capital Amounts and Ratios
Common equity Tier 1 capital (to risk-weighted assets)$7,363 10.9 %$4,400 6.5 %
Tier 1 risk-based capital (to risk-weighted assets)7,430 11.0 5,415 8.0 
Total risk-based capital (to risk-weighted assets)9,026 13.3 6,769 10.0 
Tier 1 leverage ratio7,430 8.3 4,454 5.0 
December 31, 2023
Minimum requirement to be “well capitalized”
(Dollar amounts in millions)AmountRatioAmountRatio
Basel III Regulatory Capital Amounts and Ratios
Common equity Tier 1 capital (to risk-weighted assets)$6,863 10.3 %$4,351 6.5 %
Tier 1 risk-based capital (to risk-weighted assets)7,303 10.9 5,355 8.0 
Total risk-based capital (to risk-weighted assets)8,553 12.8 6,693 10.0 
Tier 1 leverage ratio7,303 8.3 4,379 5.0 
The following schedule presents the minimum capital ratios and capital conservation buffer requirements, compared with our capital ratios at December 31, 2024:
December 31, 2024
Minimum capital requirementCapital conservation bufferMinimum capital ratio requirement with capital conservation bufferCurrent capital
ratio
CET1 to risk-weighted assets4.5%2.5%7.0%10.9%
Tier 1 risk-based capital
(i.e., CET1 plus additional Tier 1 capital) to risk-weighted assets
6.0%2.5%8.5%11.0%
Total risk-based capital
(i.e., Tier 1 capital plus Tier 2 capital) to risk-weighted assets
8.0%2.5%10.5%13.3%
Tier 1 leverage ratio
(i.e., Tier 1 risk-based capital) to average consolidated assets		4.0%N/A4.0%8.3%
v3.25.0.1
COMMITMENTS, GUARANTEES, CONTINGENT LIABILITIES, AND RELATED PARTIES (Tables)
 12 Months Ended
Dec. 31, 2024
Guarantees, Commitments And Contingencies [Abstract]  
Schedule of Off-Balance Sheet Financial Instruments
The following schedule presents the contractual amounts related to off-balance sheet financial instruments used to meet our customers’ financing needs:
December 31,
(In millions)20242023
Unfunded lending commitments 1
$28,767 $28,940 
Standby letters of credit:
Financial574 548 
Performance262 206 
Commercial letters of credit15 22 
Mortgage-backed security purchase agreements 2
— 66 
Total unfunded commitments$29,618 $29,782 
1 Net of participations.
2 Represents agreements with Farmer Mac to purchase securities backed by certain agricultural mortgage loans.
v3.25.0.1
REVENUE RECOGNITION (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]  
Disaggregation of Revenue
The following schedule presents revenue from contracts with customers and provides a reconciliation to total noninterest income by operating business segment. Customer-related noninterest income from other sources represents revenue from customers that falls outside the scope of the applicable accounting guidance for revenue from contracts with customers.
Zions BankCB&TAmegy
(In millions)202420232022202420232022202420232022
Commercial account fees
$57 $55 $53 $31 $32 $28 $59 $56 $46 
Card fees 1
50 52 55 19 21 20 31 31 33 
Retail and business banking fees
19 19 22 11 11 12 14 14 16 
Capital markets fees 2
1 — — 1 — — 3 — — 
Wealth management fees21 23 22 4 4 4 18 17 15 
Other customer-related fees9 8 8 8 7 6 6 7 7 
Total noninterest income from contracts with customers
157 157 160 74 75 70 131 125 117 
Customer-related noninterest income from other sources
24 24 19 39 35 34 34 37 40 
Total customer-related noninterest income
181 181 179 113 110 104 165 162 157 
Noncustomer-related noninterest income
6 11 5 8 6 4 10 22 1 
Total noninterest income
$187 $192 $184 $121 $116 $108 $175 $184 $158 
NBAZNSBVectra
(In millions)202420232022202420232022202420232022
Commercial account fees
$11 $10 $9 $13 $12 $11 $7 $7 $8 
Card fees 1
15 15 15 16 16 15 10 9 9 
Retail and business banking fees
9 8 9 10 10 10 3 4 4 
Capital markets fees 2
— — — — — — — — — 
Wealth management fees3 3 3 6 5 5 2 1 1 
Other customer-related fees1 1 2 1 1 1 5 4 3 
Total noninterest income from contracts with customers
39 37 38 46 44 42 27 25 25 
Customer-related noninterest income from other sources
4 2 8 2 1 6 2 3 6 
Total customer-related noninterest income
43 39 46 48 45 48 29 28 31 
Noncustomer-related noninterest income
— 1 2 4 — — — — — 
Total noninterest income
$43 $40 $48 $52 $45 $48 $29 $28 $31 
TCBWOtherConsolidated Bank
(In millions)202420232022202420232022202420232022
Commercial account fees
$2 $2 $2 $2 $— $2 $182 $174 $159 
Card fees 1
2 2 2 1 — — 144 146 149 
Retail and business banking fees
1 — — — — — 67 66 73 
Capital markets fees 2
— — — 6 4 4 11 4 4 
Wealth management fees— 1 — — (1)1 54 53 51 
Other customer-related fees1 1 1 24 31 31 55 60 59 
Total noninterest income from contracts with customers
6 6 5 33 34 38 513 503 495 
Customer-related noninterest income from other sources
2 1 2 19 14 4 126 117 119 
Total customer-related noninterest income
8 7 7 52 48 42 639 620 614 
Noncustomer-related noninterest income
— — — 33 17 6 61 57 18 
Total noninterest income
$8 $7 $7 $85 $65 $48 $700 $677 $632 
1 Card fees exclude costs associated with reward programs that are netted against interchange fees, as these costs are not within the scope of applicable accounting guidance for revenue from contracts with customers.
2 Capital markets fees exclude revenue associated with real estate capital markets, swaps, loan syndications, and foreign exchange activities, as the related fees are not within the scope of applicable accounting guidance for revenue from contracts with customers.
v3.25.0.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Compensation Expense and Related Tax Benefit for All Share-Based Awards
The following schedule presents compensation expense and the related tax benefit for all share-based awards:
(In millions)202420232022
Compensation expense$31 $33 $30 
Reduction of income tax expense7 9 11 
Summary of Weighted Average Value at Grant Date and the Significant Assumptions Used in Applying the Black-Scholes Model for Options Granted
The following schedule presents the weighted average grant date value and the significant assumptions applied in the Black-Scholes model for these options:
202420232022
Weighted average value for options granted$— $11.23 $15.16 
Weighted average assumptions used:
Expected dividend yield— %3.0 %2.3 %
Expected volatility— %27.0 %27.0 %
Risk-free interest rate— %4.00 %1.98 %
Expected life (in years)0.04.55.0
Summary of Stock Option Activity
The following schedule presents our stock option activity for the three years ended December 31, 2024:
Number of sharesWeighted average exercise price
Balance at December 31, 20211,328,144 $44.60 
Granted201,932 73.02 
Exercised(256,004)36.79 
Expired(8,912)37.58 
Forfeited(2,794)57.75 
Balance at December 31, 20221,262,366 50.75 
Granted291,005 52.90 
Exercised(95,207)29.67 
Expired(27,948)35.41 
Forfeited(9,838)57.07 
Balance at December 31, 20231,420,378 52.83 
Granted— — 
Exercised(191,602)50.05 
Expired(103,008)46.84 
Forfeited(2,112)56.94 
Balance at December 31, 20241,123,656 53.85 
Outstanding stock options exercisable as of:
December 31, 2024869,716 52.61 
December 31, 2023891,884 50.36 
December 31, 2022729,411 46.02 
Summary of Additional Selected Information on Stock Options
The following schedule presents additional selected information on stock options at December 31, 2024:
Outstanding stock optionsExercisable stock options
 Exercise price range Number of sharesWeighted average exercise priceWeighted average remaining contractual life (years) Number of sharesWeighted average exercise price
$4.15 to $19.99
5,223 $6.41 
1
05,223 $6.41 
$40.00 to $44.99
1,974 43.07 1.41,974 43.07 
$45.00 to $49.99
440,807 47.33 2.6440,807 47.33 
$50.00 to $59.99
481,220 52.56 3.2292,172 52.34 
$60.00 to $73.22
194,432 73.19 4.0129,540 73.19 
1,123,656 53.85 
1
3.1869,716 52.61 
1 The weighted average remaining contractual life excludes 5,223 stock options without a fixed expiration date, which were assumed during the Amegy acquisition. These options expire one year after the employee's termination date, depending on certain circumstances.
Summary of Nonvested Restricted Stock Activity
The following schedule presents our restricted stock activity for the three years ended December 31, 2024:
Number of sharesWeighted average fair value
Nonvested restricted shares at December 31, 202164,816 $42.26 
Issued21,038 60.21 
Vested(25,105)42.66 
Nonvested restricted shares at December 31, 202260,749 48.31 
Issued— — 
Vested(24,978)46.31 
Nonvested restricted shares at December 31, 202335,771 49.71 
Issued49,019 41.24 
Vested(18,731)47.48 
Nonvested restricted shares at December 31, 202466,059 44.06 
Summary of RSU Activity
The following schedule presents our RSU activity for the three years ended December 31, 2024:
Number of restricted stock unitsWeighted average fair value
Restricted stock units at December 31, 20211,274,083 $46.49 
Granted433,674 68.07 
Vested(504,358)47.83 
Forfeited(34,306)56.58 
Restricted stock units at December 31, 20221,169,093 53.62 
Granted727,019 48.85 
Vested(522,163)48.71 
Forfeited(44,004)56.19 
Restricted stock units at December 31, 20231,329,945 52.88 
Granted872,274 39.53 
Vested(544,095)50.55 
Forfeited(34,621)48.78 
Restricted stock units at December 31, 20241,623,503 46.57 
v3.25.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense (Benefit)
The following schedule presents the major components of our income tax expense:
(In millions)202420232022
Federal:
Current$194 $168 $236 
Deferred(9)— (38)
Total federal185 168 198 
State:
Current41 47 52 
Deferred2 (9)(5)
Total state43 38 47 
Total income tax expense$228 $206 $245 
Schedule of Statutory Federal Income Tax Rate Reconciles to Actual Income Tax Expense (Benefit)
The following schedule presents a reconciliation of income tax expense calculated at the statutory federal income tax rate of 21% with the actual income tax expense:
(In millions)202420232022
Income tax expense at statutory federal rate$213 $186 $242 
State income taxes including credits, net34 31 38 
Other nondeductible expenses32 29 13 
Nontaxable income(46)(41)(40)
Share-based compensation1 (1)(4)
Other(6)2 (4)
Total income tax expense$228 $206 $245 
Schedule of Tax Effects of Deferred Tax Assets and Deferred Tax Liabilities The following schedule presents the tax effects of temporary differences that result in significant portions of DTAs and DTLs:
(In millions)December 31,
20242023
Gross deferred tax assets:
Book loan loss deduction in excess of tax$183 $181 
Deferred compensation81 81 
Investment securities and derivative fair value adjustments775 879 
Lease liabilities60 50 
Capitalized costs30 37 
Other47 48 
Total deferred tax assets before valuation allowance1,176 1,276 
Valuation allowance— — 
Total deferred tax assets1,176 1,276 
Gross deferred tax liabilities:
Premises and equipment, due to differences in depreciation(90)(101)
Federal Home Loan Bank stock dividends(3)(3)
Leasing operations(43)(49)
Prepaid expenses(8)(5)
Mortgage servicing(6)(5)
Deferred loan costs(36)(34)
ROU assets(47)(43)
Qualified opportunity fund deferred gains(26)(27)
Equity investments(13)(10)
Total deferred tax liabilities(272)(277)
Net deferred tax assets (liabilities)$904 $999 
Schedule of Reconciliation of Gross Unrecognized Tax Benefits The following schedule presents a roll forward of gross unrecognized tax benefits:
(In millions)202420232022
Balance at beginning of year$15 $13 $14 
Tax positions related to current year:
Additions— 2 2 
Tax positions related to prior years:
Additions— 10 — 
Reductions— — (1)
Settlements with taxing authorities— (3)— 
Lapses in statutes of limitations(8)(7)(2)
Balance at end of year$7 $15 $13 
v3.25.0.1
NET EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method
The following schedule presents basic and diluted net earnings per common share based on the weighted average outstanding shares:
(In millions, except shares and per share amounts)202420232022
Basic:
Net income$784 $680 $907 
Less common and preferred dividends289 277 269 
Less impact from redemption of preferred stock6 — — 
Undistributed earnings489 403 638 
Less undistributed earnings applicable to nonvested shares5 4 5 
Undistributed earnings applicable to common shares484 399 633 
Distributed earnings applicable to common shares245 243 237 
Total earnings applicable to common shares$729 $642 $870 
Weighted average common shares outstanding (in thousands)147,210 147,748 150,064 
Net earnings per common share$4.95 $4.35 $5.80 
Diluted:
Total earnings applicable to common shares$729 $642 $870 
Weighted average common shares outstanding (in thousands)147,210 147,748 150,064 
Dilutive effect of stock options (in thousands)5 8 207 
Weighted average diluted common shares outstanding (in thousands)
147,215 147,756 150,271 
Net earnings per common share$4.95 $4.35 $5.79 
Schedule of Weighted Average Number of Shares
The following schedule presents the weighted average stock awards that were anti-dilutive and not included in the calculation of diluted earnings per share:
(In thousands)202420232022
Restricted stock and restricted stock units$1,663 $1,383 $1,265 
Stock options1,110 1,409 178 
v3.25.0.1
OPERATING SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following schedule presents selected operating segment information that is regularly provided to the CODM to evaluate performance and allocate resources:
(In millions)Zions BankCB&TAmegy
202420232022202420232022202420232022
SELECTED INCOME STATEMENT DATA
Net interest income 1
$692 $698 $726 $584 $602 $592 $496 $457 $505 
Provision for credit losses(8)20 43 42 44 49 22 15 5 
Net interest income after provision for credit losses
700 678 683 542 558 543 474 442 500 
Noninterest income187 192 186 121 116 114 175 184 165 
Noninterest expense:
Salaries and employee benefits141 142 137 126 126 121 112 107 105 
Technology, telecom, and information processing14 16 14 5 5 4 8 8 8 
Occupancy and equipment, net27 27 24 33 34 33 33 28 28 
Other direct expenses 2
71 96 60 42 58 33 56 70 40 
Indirect/allocated expenses318 301 263 197 188 149 247 240 174 
Total noninterest expense571 582 498 403 411 340 456 453 355 
Income (loss) before income taxes$316 $288 $371 $260 $263 $317 $193 $173 $310 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$14,799 $14,296 $13,272 $14,286 $14,128 $13,129 $13,398 $12,851 $12,110 
Total average deposits21,151 20,233 24,316 14,582 14,253 16,160 14,792 13,569 15,735 
(In millions)NBAZNSBVectra
202420232022202420232022202420232022
SELECTED INCOME STATEMENT DATA
Net interest income 1
$245 $249 $242 $197 $192 $185 $148 $151 $153 
Provision for credit losses17 4 11 (11)42 4 3 7 9 
Net interest income after provision for credit losses
228 245 231 208 150 181 145 144 144 
Noninterest income43 40 48 52 45 48 29 28 31 
Noninterest expense:
Salaries and employee benefits54 55 51 46 45 44 41 41 39 
Technology, telecom, and information processing4 4 4 6 5 6 2 3 3 
Occupancy and equipment, net11 10 10 11 12 11 11 12 8 
Other direct expenses 2
26 29 17 21 27 16 14 18 10 
Indirect/allocated expenses101 96 85 93 85 74 69 67 60 
Total noninterest expense196 194 167 177 174 151 137 141 120 
Income (loss) before income taxes$75 $91 $112 $83 $21 $78 $37 $31 $55 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,683 $5,318 $4,911 $3,555 $3,392 $2,987 $4,063 $4,004 $3,632 
Total average deposits6,933 7,008 8,035 7,169 6,964 7,436 3,505 3,482 4,109 
(In millions)TCBWOtherConsolidated Bank
202420232022202420232022202420232022
SELECTED INCOME STATEMENT DATA
Net interest income 1
$63 $61 $63 $5 $28 $54 $2,430 $2,438 $2,520 
Provision for credit losses9 2 1 (2)(2)— 72 132 122 
Net interest income after provision for credit losses
54 59 62 7 30 54 2,358 2,306 2,398 
Noninterest income8 7 7 85 65 33 700 677 632 
Noninterest expense:
Salaries and employee benefits12 13 12 755 746 726 1,287 1,275 1,235 
Technology, telecom, and information processing2 2 2 219 197 168 260 240 209 
Occupancy and equipment, net3 2 3 32 35 35 161 160 152 
Other direct expenses 2
5 7 4 103 117 102 338 422 282 
Indirect/allocated expenses11 11 3 (1,036)(988)(808)— — — 
Total noninterest expense33 35 24 73 107 223 2,046 2,097 1,878 
Income (loss) before income taxes$29 $31 $45 $19 $(12)$(136)$1,012 $886 $1,152 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$1,805 $1,705 $1,630 $958 $1,046 $927 $58,547 $56,740 $52,598 
Total average deposits1,144 1,196 1,571 5,484 6,161 1,167 74,760 72,866 78,529 
1 Interest income is shown net of interest expense consistent with the information regularly provided to the CODM and used to evaluate segment performance.
2 Includes expenses such as professional and legal services, marketing and business development, deposit insurance and regulatory expense, credit-related expense, other real estate expense, and other noninterest expense.
v3.25.0.1
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Financial Information by Quarter
The following schedule presents quarterly financial information for 2024 and 2023:
(In millions, except per share amounts)Fourth QuarterThird QuarterSecond QuarterFirst Quarter
2024
Total interest income$1,062 $1,104 $1,073 $1,054 
Net interest income627 620 597 586 
Provision for credit losses41 13 5 13 
Noninterest income193 172 179 156 
Noninterest expense509 502 509 526 
Income before income taxes270 277 262 203 
Net income216 214 201 153 
Preferred stock dividends(10)(10)(11)(10)
Preferred stock redemption(6)— — — 
Net earnings applicable to common shareholders200 204 190 143 
Net earnings per common share:
Basic1.34 1.37 1.28 0.96 
Diluted1.34 1.37 1.28 0.96 
2023
Total interest income$1,040 $1,010 $977 $920 
Net interest income583 585 591 679 
Provision for credit losses— 41 46 45 
Noninterest income148 180 189 160 
Noninterest expense581 496 508 512 
Income before income taxes150 228 226 282 
Net income126 175 175 204 
Preferred stock dividends(10)(7)(9)(6)
Net earnings applicable to common shareholders116 168 166 198 
Net earnings per common share:
Basic0.78 1.13 1.11 1.33 
Diluted0.78 1.13 1.11 1.33 
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Billions
 12 Months Ended
Dec. 31, 2024
USD ($)
state
segment
Dec. 31, 2023
USD ($)
Repurchase Agreement Counterparty [Line Items]    
Number of states in which entity operates | state 11  
Number of bank operating segments | segment 7  
Securities for which entity has right to sell or repledge $ 1.4 $ 0.9
Security resell agreements average amount 2.2 1.3
Security resell agreements maximum amount, outstanding $ 3.0 $ 2.0
Percentage of acquired assets and all assumed liabilities recognized in business combination 100.00%  
Maximum    
Repurchase Agreement Counterparty [Line Items]    
Security resell agreements maturity (in days) 50 days  
v3.25.0.1
FAIR VALUE (Schedule of Assets and Liabilities Measured at Fair Value by Class on a Recurring Basis) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Trading securities $ 35 $ 48
Available-for-sale securities:    
Investment securities, available-for-sale 9,095 10,300
Loans held for sale 25 43
Other assets:    
Agriculture loan servicing 20 19
Total assets 10,440 11,602
Fed funds and other short-term borrowings:    
Securities sold, not yet purchased 21 65
Other liabilities:    
Total liabilities 371 398
U.S. Treasury, agencies, and corporations    
Available-for-sale securities:    
Investment securities, available-for-sale 7,962 8,959
Municipal securities    
Available-for-sale securities:    
Investment securities, available-for-sale 1,108 1,318
Other debt securities    
Available-for-sale securities:    
Investment securities, available-for-sale 25 23
Loans held for sale    
Available-for-sale securities:    
Loans held for sale 25 43
Bank-owned life insurance    
Other noninterest-bearing investments:    
Other noninterest-bearing investments 562 553
Private equity investments    
Other noninterest-bearing investments:    
Other noninterest-bearing investments 108 95
Derivatives    
Other assets:    
Other assets 446 420
Other liabilities:    
Other liabilities 350 333
Level 1    
ASSETS    
Trading securities 0 0
Available-for-sale securities:    
Investment securities, available-for-sale 662 492
Other assets:    
Total assets 814 619
Fed funds and other short-term borrowings:    
Securities sold, not yet purchased 21 65
Other liabilities:    
Total liabilities 21 65
Level 1 | U.S. Treasury, agencies, and corporations    
Available-for-sale securities:    
Investment securities, available-for-sale 662 492
Level 1 | Private equity investments    
Other noninterest-bearing investments:    
Other noninterest-bearing investments 3 3
Level 2    
ASSETS    
Trading securities 35 48
Available-for-sale securities:    
Investment securities, available-for-sale 8,433 9,808
Other assets:    
Total assets 9,501 10,872
Fed funds and other short-term borrowings:    
Securities sold, not yet purchased 0 0
Other liabilities:    
Total liabilities 350 333
Level 2 | U.S. Treasury, agencies, and corporations    
Available-for-sale securities:    
Investment securities, available-for-sale 7,300 8,467
Level 2 | Municipal securities    
Available-for-sale securities:    
Investment securities, available-for-sale 1,108 1,318
Level 2 | Other debt securities    
Available-for-sale securities:    
Investment securities, available-for-sale 25 23
Level 2 | Loans held for sale    
Available-for-sale securities:    
Loans held for sale 25 43
Level 2 | Bank-owned life insurance    
Other noninterest-bearing investments:    
Other noninterest-bearing investments 562 553
Level 2 | Derivatives    
Other assets:    
Other assets 446 420
Other liabilities:    
Other liabilities 350 333
Level 3    
ASSETS    
Trading securities 0 0
Available-for-sale securities:    
Investment securities, available-for-sale 0 0
Other assets:    
Agriculture loan servicing 20 19
Total assets 125 111
Fed funds and other short-term borrowings:    
Securities sold, not yet purchased 0 0
Other liabilities:    
Total liabilities 0 0
Level 3 | Private equity investments    
Other noninterest-bearing investments:    
Other noninterest-bearing investments 105 92
Deferred compensation plan assets    
Other assets:    
Other assets 149 124
Deferred compensation plan assets | Level 1    
Other assets:    
Other assets $ 149 $ 124
v3.25.0.1
FAIR VALUE (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Loans held for sale $ 25,000,000 $ 43,000,000
Loans held for sale, par value 26,000,000 43,000,000
Net gain on loan sales 14,000,000 4,000,000
Assets, fair value 10,440,000,000 11,602,000,000
Level 2    
Derivatives, Fair Value [Line Items]    
Assets, fair value 9,501,000,000 $ 10,872,000,000
Level 2 | Fair Value, Nonrecurring | Collateral dependent loans    
Derivatives, Fair Value [Line Items]    
Assets, fair value 0  
Losses from fair value changes $ 0  
v3.25.0.1
FAIR VALUE (Schedule of Assets and Liabilities Measured at Fair Value by Class on a Recurring Basis Using Level 3 Inputs) (Details) - Level 3 - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Private equity investments      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of year $ 92 $ 81 $ 66
Unrealized securities gains (losses), net 9 (2) 3
Other noninterest income 0 0 0
Purchases 11 14 16
Cost of investments sold (7) (1) (3)
Redemptions and paydowns 0 0 0
Transfers out 0 0 (1)
Balance at end of year 105 92 81
Ag loan servicing      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at beginning of year 19 14 12
Unrealized securities gains (losses), net 0 0 0
Other noninterest income 1 5 2
Purchases 0 0 0
Cost of investments sold 0 0 0
Redemptions and paydowns 0 0 0
Transfers out 0 0 0
Balance at end of year $ 20 $ 19 $ 14
v3.25.0.1
FAIR VALUE (Schedule of Realized Gains (Losses) Using Level 3 Inputs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Securities gains (losses), net $ 1 $ (1) $ (2)
v3.25.0.1
FAIR VALUE (Schedule of Carrying Values and Estimated Fair Values of Financial Instruments) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity investment securities $ 9,382 $ 10,466
Time deposits 11,482 9,996
Long-term debt 946  
Level 2 | Fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity investment securities 9,382 10,466
Time deposits 11,468 9,964
Long-term debt 950 494
Level 2 | Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity investment securities 9,669 10,382
Time deposits 11,482 9,996
Long-term debt 950 542
Level 3 | Fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans and leases (including loans held for sale), net of allowance 57,130 54,832
Level 3 | Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans and leases (including loans held for sale), net of allowance $ 58,788 $ 57,148
v3.25.0.1
OFFSETTING ASSETS AND LIABILITIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Gross amounts recognized    
Federal funds sold and securities purchased under agreements to resell $ 1,453,000 $ 1,170,000
Derivatives (included in Other assets) 446,000 420,000
Total assets 1,899,000 1,590,000
Federal funds and other short-term borrowings 3,832,000 4,612,000
Derivatives (included in Other liabilities) 350,000 333,000
Total liabilities 4,182,000 4,945,000
Gross amounts offset on the balance sheet    
Federal funds sold and securities purchased under agreements to resell 0 (233,000)
Derivatives (included in Other assets) 0 0
Total assets 0 (233,000)
Federal funds and other short-term borrowings 0 (233,000)
Derivatives (included in Other liabilities) 0 0
Total liabilities 0 (233,000)
Net amounts presented on the balance sheet    
Federal funds sold and securities purchased under agreements to resell 1,453,000 937,000
Derivatives (included in Other assets) 446,000 420,000
Total assets 1,899,000 1,357,000
Federal funds and other short-term borrowings 3,832,000 4,379,000
Derivatives (included in Other liabilities) 350,000 333,000
Total liabilities 4,182,000 4,712,000
Gross amounts not offset in the balance sheet, Financial Instruments    
Federal funds sold and securities purchased under agreements to resell 0 0
Derivatives (included in Other assets) (19,000) (31,000)
Total assets (19,000) (31,000)
Federal funds and other short-term borrowings 0 0
Derivatives (included in Other liabilities) (19,000) (31,000)
Total liabilities (19,000) (31,000)
Gross amounts not offset in the balance sheet, Cash collateral received/ pledged    
Federal funds sold and securities purchased under agreements to resell 0 0
Derivatives (included in Other assets) (404,000) (357,000)
Total assets (404,000) (357,000)
Federal funds and other short-term borrowings 0 0
Derivatives (included in Other liabilities) (3,000) (1,000)
Total liabilities $ (3,000) $ (1,000)
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities
Net amount    
Federal funds sold and securities purchased under agreements to resell $ 1,453,000 $ 937,000
Derivatives (included in Other assets) 23,000 32,000
Total assets 1,476,000 969,000
Federal funds and other short-term borrowings 3,832,000 4,379,000
Derivatives (included in Other liabilities) 328,000 301,000
Total liabilities $ 4,160,000 $ 4,680,000
v3.25.0.1
INVESTMENT SECURITIES (Narrative) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
security
Investments [Abstract]    
Accrued interest receivable $ 60 $ 65
Unrealized loss unamortized over the life of security 1,800 2,100
Unrealized loss unamortized over the life of security, after tax $ 1,400 $ 1,500
Number of AFS investment securities in an unrealized loss position | security 2,534 2,998
Allowance for credit loss on HTM securities (less than) $ 1  
v3.25.0.1
INVESTMENT SECURITIES (Summary of Investment Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Amortized cost    
Total available-for-sale $ 10,601 $ 11,759
Held-to-maturity 9,669 10,382
Total investment securities 20,270 22,141
Gross unrealized gains    
Available-for-sale 1 0
Held-to-maturity 2 156
Total investment securities 3 156
Gross unrealized losses    
Available-for-sale 1,507 1,459
Held-to-maturity 289 72
Total investment securities 1,796 1,531
Estimated fair value    
Available-for-sale 9,095 10,300
Held-to-maturity 9,382 10,466
Total investment securities 18,477 20,766
U.S. Treasury securities    
Amortized cost    
Total available-for-sale 781 585
Gross unrealized gains    
Available-for-sale 0 0
Gross unrealized losses    
Available-for-sale 119 93
Estimated fair value    
Available-for-sale 662 492
Agency securities    
Amortized cost    
Total available-for-sale 441 663
Held-to-maturity 148 93
Gross unrealized gains    
Available-for-sale 0 0
Held-to-maturity 0 0
Gross unrealized losses    
Available-for-sale 26 33
Held-to-maturity 8 6
Estimated fair value    
Available-for-sale 415 630
Held-to-maturity 140 87
Agency guaranteed mortgage-backed securities    
Amortized cost    
Total available-for-sale 7,713 8,530
Held-to-maturity 9,202 9,935
Gross unrealized gains    
Available-for-sale 1 0
Held-to-maturity 2 156
Gross unrealized losses    
Available-for-sale 1,263 1,239
Held-to-maturity 263 50
Estimated fair value    
Available-for-sale 6,451 7,291
Held-to-maturity 8,941 10,041
Small Business Administration loan-backed securities    
Amortized cost    
Total available-for-sale 455 571
Gross unrealized gains    
Available-for-sale 0 0
Gross unrealized losses    
Available-for-sale 21 25
Estimated fair value    
Available-for-sale 434 546
Municipal securities    
Amortized cost    
Total available-for-sale 1,186 1,385
Held-to-maturity 319 354
Gross unrealized gains    
Available-for-sale 0 0
Held-to-maturity 0 0
Gross unrealized losses    
Available-for-sale 78 67
Held-to-maturity 18 16
Estimated fair value    
Available-for-sale 1,108 1,318
Held-to-maturity 301 338
Other debt securities    
Amortized cost    
Total available-for-sale 25 25
Gross unrealized gains    
Available-for-sale 0 0
Gross unrealized losses    
Available-for-sale 0 2
Estimated fair value    
Available-for-sale $ 25 23
Unrealized gains    
Gross unrealized gains    
Available-for-sale   $ 1
v3.25.0.1
INVESTMENT SECURITIES (Contractual Maturities Debt Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Available-for-sale, Amortized cost    
Total debt securities $ 10,601 $ 11,759
Due in one year or less 448  
Due after one year through five years 588  
Due after five years through ten years 2,481  
Due after ten years $ 7,084  
Available-for-sale, Weighted average yield    
Total debt securities 2.32%  
Due in one year or less 3.61%  
Due after one year through five years 2.98%  
Due after five years through ten years 2.28%  
Due after ten years 2.20%  
Held-to-maturity, Amortized cost    
Total debt securities $ 9,669 10,382
Due in one year or less 34  
Due after one year through five years 132  
Due after five years through ten years 181  
Due after ten years $ 9,322  
Held-to-maturity, Weighted average yield    
Total debt securities 1.92%  
Due in one year or less 3.49%  
Due after one year through five years 2.93%  
Due after five years through ten years 3.00%  
Due after ten years 1.88%  
Total investment securities, Amortized cost    
Total investment securities $ 20,270 22,141
Due in one year or less 482  
Due after one year through five years 720  
Due after five years through ten years 2,662  
Due after ten years $ 16,406  
Total investment securities, Weighted average yield    
Total debt securities 2.13%  
Due in one year or less 3.60%  
Due after one year through five years 2.97%  
Due after five years through ten years 2.33%  
Due after ten years 2.02%  
U.S. Treasury securities    
Available-for-sale, Amortized cost    
Total debt securities $ 781 585
Due in one year or less 179  
Due after one year through five years 101  
Due after five years through ten years 100  
Due after ten years $ 401  
Available-for-sale, Weighted average yield    
Total debt securities 3.28%  
Due in one year or less 4.41%  
Due after one year through five years 4.00%  
Due after five years through ten years 4.23%  
Due after ten years 2.35%  
Agency securities    
Available-for-sale, Amortized cost    
Total debt securities $ 441 663
Due in one year or less 74  
Due after one year through five years 44  
Due after five years through ten years 195  
Due after ten years $ 128  
Available-for-sale, Weighted average yield    
Total debt securities 3.09%  
Due in one year or less 2.99%  
Due after one year through five years 3.83%  
Due after five years through ten years 2.92%  
Due after ten years 3.14%  
Held-to-maturity, Amortized cost    
Total debt securities $ 148 93
Due in one year or less 0  
Due after one year through five years 0  
Due after five years through ten years 0  
Due after ten years $ 148  
Held-to-maturity, Weighted average yield    
Total debt securities 4.18%  
Due in one year or less 0.00%  
Due after one year through five years 0.00%  
Due after five years through ten years 0.00%  
Due after ten years 4.18%  
Agency guaranteed mortgage-backed securities    
Available-for-sale, Amortized cost    
Total debt securities $ 7,713 8,530
Due in one year or less 18  
Due after one year through five years 105  
Due after five years through ten years 1,390  
Due after ten years $ 6,200  
Available-for-sale, Weighted average yield    
Total debt securities 2.02%  
Due in one year or less 1.25%  
Due after one year through five years 2.04%  
Due after five years through ten years 2.09%  
Due after ten years 2.00%  
Held-to-maturity, Amortized cost    
Total debt securities $ 9,202 9,935
Due in one year or less 0  
Due after one year through five years 0  
Due after five years through ten years 41  
Due after ten years $ 9,161  
Held-to-maturity, Weighted average yield    
Total debt securities 1.84%  
Due in one year or less 0.00%  
Due after one year through five years 0.00%  
Due after five years through ten years 1.89%  
Due after ten years 1.84%  
Small Business Administration loan-backed securities    
Available-for-sale, Amortized cost    
Total debt securities $ 455 571
Due in one year or less 1  
Due after one year through five years 13  
Due after five years through ten years 122  
Due after ten years $ 319  
Available-for-sale, Weighted average yield    
Total debt securities 4.78%  
Due in one year or less 7.46%  
Due after one year through five years 5.74%  
Due after five years through ten years 3.91%  
Due after ten years 5.07%  
Municipal securities    
Available-for-sale, Amortized cost    
Total debt securities $ 1,186 1,385
Due in one year or less 176  
Due after one year through five years 315  
Due after five years through ten years 674  
Due after ten years $ 21  
Available-for-sale, Weighted average yield    
Total debt securities 2.27%  
Due in one year or less 3.27%  
Due after one year through five years 2.53%  
Due after five years through ten years 1.89%  
Due after ten years 2.30%  
Held-to-maturity, Amortized cost    
Total debt securities $ 319 354
Due in one year or less 34  
Due after one year through five years 132  
Due after five years through ten years 140  
Due after ten years $ 13  
Held-to-maturity, Weighted average yield    
Total debt securities 3.22%  
Due in one year or less 3.49%  
Due after one year through five years 2.93%  
Due after five years through ten years 3.32%  
Due after ten years 4.25%  
Other debt securities    
Available-for-sale, Amortized cost    
Total debt securities $ 25 $ 25
Due in one year or less 0  
Due after one year through five years 10  
Due after five years through ten years 0  
Due after ten years $ 15  
Available-for-sale, Weighted average yield    
Total debt securities 8.34%  
Due in one year or less 0.00%  
Due after one year through five years 9.51%  
Due after five years through ten years 0.00%  
Due after ten years 7.56%  
v3.25.0.1
INVESTMENT SECURITIES (Summary of Amount of Gross Unrealized Losses for Debt Securities and Estimated Fair Value) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Gross unrealized losses    
Available-for-sale, Less than 12 months $ 3 $ 73
Available-for-sale, 12 months or more 1,504 1,386
Available-for-sale, Total 1,507 1,459
Estimated fair value    
Available-for-sale, less than 12 Months 390 550
Available-for-sale, 12 months or more 8,230 9,373
Available-for-sale, Total 8,620 9,923
U.S. Treasury securities    
Gross unrealized losses    
Available-for-sale, Less than 12 months 3 0
Available-for-sale, 12 months or more 116 93
Available-for-sale, Total 119 93
Estimated fair value    
Available-for-sale, less than 12 Months 198 0
Available-for-sale, 12 months or more 285 308
Available-for-sale, Total 483 308
Agency securities    
Gross unrealized losses    
Available-for-sale, Less than 12 months 0 0
Available-for-sale, 12 months or more 26 33
Available-for-sale, Total 26 33
Estimated fair value    
Available-for-sale, less than 12 Months 3 5
Available-for-sale, 12 months or more 403 605
Available-for-sale, Total 406 610
Agency guaranteed mortgage-backed securities    
Gross unrealized losses    
Available-for-sale, Less than 12 months 0 71
Available-for-sale, 12 months or more 1,263 1,168
Available-for-sale, Total 1,263 1,239
Estimated fair value    
Available-for-sale, less than 12 Months 86 312
Available-for-sale, 12 months or more 6,171 6,902
Available-for-sale, Total 6,257 7,214
Small Business Administration loan-backed securities    
Gross unrealized losses    
Available-for-sale, Less than 12 months 0 0
Available-for-sale, 12 months or more 21 25
Available-for-sale, Total 21 25
Estimated fair value    
Available-for-sale, less than 12 Months 35 4
Available-for-sale, 12 months or more 387 484
Available-for-sale, Total 422 488
Municipal securities    
Gross unrealized losses    
Available-for-sale, Less than 12 months 0 2
Available-for-sale, 12 months or more 78 65
Available-for-sale, Total 78 67
Estimated fair value    
Available-for-sale, less than 12 Months 68 229
Available-for-sale, 12 months or more 984 1,061
Available-for-sale, Total 1,052 1,290
Other    
Gross unrealized losses    
Available-for-sale, Less than 12 months 0 0
Available-for-sale, 12 months or more 0 2
Available-for-sale, Total 0 2
Estimated fair value    
Available-for-sale, less than 12 Months 0 0
Available-for-sale, 12 months or more 0 13
Available-for-sale, Total $ 0 $ 13
v3.25.0.1
INVESTMENT SECURITIES (Securities Gains and Losses Recognized in Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments [Abstract]      
Available-for-sale, gross gains $ 0 $ 72 $ 0
Available-for-sale, gross losses $ 0 $ 72 $ 0
v3.25.0.1
INVESTMENT SECURITIES (Tax and Nontaxable Income by Investment Type) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net Investment Income [Line Items]      
Available-for-sale $ 325 $ 322 $ 451
Held-to-maturity 222 239 46
Interest on securities 547 561 497
Taxable      
Net Investment Income [Line Items]      
Available-for-sale 294 291 411
Held-to-maturity 218 236 42
Interest on securities 512 527 453
Nontaxable      
Net Investment Income [Line Items]      
Available-for-sale 31 31 40
Held-to-maturity 4 3 4
Interest on securities $ 35 $ 34 $ 44
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Major Portfolio Segment and Specific Loan Class) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans held for sale (includes $25 and $43 of loans carried at fair value) $ 74 $ 53
Total loans and leases 59,410 57,779
Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 30,965 30,588
Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 16,891 16,684
Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 377 383
Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 9,333 9,219
Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 4,364 4,302
Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 13,477 13,371
Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 2,774 2,669
Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 10,703 10,702
Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 14,968 13,820
Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 3,641 3,356
Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 9,939 8,415
Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 810 1,442
Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases 457 474
Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total loans and leases $ 121 $ 133
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]      
Net unamortized purchase premiums, discounts, and deferred loan fees and cost $ 43,000,000 $ 37,000,000  
Accrued interest receivable $ 281,000,000 $ 299,000,000  
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Loans and leases, net of unearned income and fees $ 59,410,000,000 $ 57,779,000,000  
Loans held for sale (includes $25 and $43 of loans carried at fair value) 74,000,000 53,000,000  
Principal balance of loans sold, serviced loans 615,000,000 431,000,000  
Income from loans sold 8,000,000 16,000,000 $ 14,000,000
Financing receivable, commitments threshold for evaluating collectively or individually 1,000,000    
Nonaccruing loan threshold for evaluating individually 1,000,000    
Real estate acquired through foreclosure (less than) 1,000,000 1,000,000  
Mortgage loans in process of foreclosure 14,000,000 11,000,000  
Asset Pledged as Collateral without Right      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Loans held for sale (includes $25 and $43 of loans carried at fair value) 40,400,000,000 36,300,000,000  
Doubtful      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Loans and leases, net of unearned income and fees 14,000,000 0  
Commercial real estate      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Loans and leases, net of unearned income and fees $ 13,477,000,000 13,371,000,000  
Financing receivable, period once past due, charged off or charged down (in days) 180 days    
Consumer      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Loans and leases, net of unearned income and fees $ 14,968,000,000 13,820,000,000  
Financing receivable, period once past due, charged off or charged down (in days) 180 days    
Payment deferral      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Financing receivable, modifications, subsequent default, recorded investment (prior year less than) $ 1,000,000 1,000,000  
Principal forgiveness      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Loan modifications to borrowers experiencing financial difficulty, principal amount forgiven (less than) 1,000,000 1,000,000  
Land Acquisition and Development | Commercial real estate      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Loans and leases, net of unearned income and fees $ 260,000,000 $ 219,000,000  
Closed-End Consumer Loans | Consumer      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Financing receivable, period once past due, charged off or charged down (in days) 120 days    
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Loans Held For Sale) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Receivables [Abstract]    
Payments for origination and purchases of loans held-for-sale $ 922 $ 678
Held-for-sale loans sold $ 899 $ 632
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Changes in the Allowance for Credit Losses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Allowance for loan and lease losses      
Balance at beginning of period $ 684 $ 572  
Provision for loan losses 72 148 $ 101
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff 91 62  
Recoveries 31 26  
Net loan and lease charge-offs (recoveries) 60 36  
Balance at ending of period 696 684 572
Reserve for unfunded lending commitments      
Balance at beginning of period 45 61  
Provision for unfunded lending commitments 0 (16) 21
Balance at end of period 45 45 61
Total allowance for credit losses 741 729  
Commercial      
Allowance for loan and lease losses      
Balance at beginning of period 302 300  
Provision for loan losses 51 27  
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff 68 45  
Recoveries 23 20  
Net loan and lease charge-offs (recoveries) 45 25  
Balance at ending of period 308 302 300
Reserve for unfunded lending commitments      
Balance at beginning of period 19 16  
Provision for unfunded lending commitments 7 3  
Balance at end of period 26 19 16
Total allowance for credit losses 334 321  
Commercial real estate      
Allowance for loan and lease losses      
Balance at beginning of period 241 152  
Provision for loan losses 67 92  
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff 11 3  
Recoveries 3 0  
Net loan and lease charge-offs (recoveries) 8 3  
Balance at ending of period 300 241 152
Reserve for unfunded lending commitments      
Balance at beginning of period 17 33  
Provision for unfunded lending commitments (6) (16)  
Balance at end of period 11 17 33
Total allowance for credit losses 311 258  
Consumer      
Allowance for loan and lease losses      
Balance at beginning of period 141 120  
Provision for loan losses (46) 29  
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff 12 14  
Recoveries 5 6  
Net loan and lease charge-offs (recoveries) 7 8  
Balance at ending of period 88 141 120
Reserve for unfunded lending commitments      
Balance at beginning of period 9 12  
Provision for unfunded lending commitments (1) (3)  
Balance at end of period 8 9 $ 12
Total allowance for credit losses $ 96 $ 150  
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Nonaccrual Loans) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance $ 112 $ 91
Amortized cost basis with allowance 185 131
Total amortized cost basis 297 222
Related allowance 37 43
Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 68 23
Amortized cost basis with allowance 90 81
Total amortized cost basis 158 104
Related allowance 23 32
Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 45 11
Amortized cost basis with allowance 69 71
Total amortized cost basis 114 82
Related allowance 19 30
Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 0 0
Amortized cost basis with allowance 2 2
Total amortized cost basis 2 2
Related allowance 1 1
Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 18 12
Amortized cost basis with allowance 13 8
Total amortized cost basis 31 20
Related allowance 1 1
Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 5  
Amortized cost basis with allowance 6  
Total amortized cost basis 11  
Related allowance 2  
Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 27 59
Amortized cost basis with allowance 32 2
Total amortized cost basis 59 61
Related allowance 4 1
Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance   22
Amortized cost basis with allowance   0
Total amortized cost basis   22
Related allowance   0
Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 27 37
Amortized cost basis with allowance 32 2
Total amortized cost basis 59 39
Related allowance 4 1
Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 17 9
Amortized cost basis with allowance 63 48
Total amortized cost basis 80 57
Related allowance 10 10
Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 5 1
Amortized cost basis with allowance 25 16
Total amortized cost basis 30 17
Related allowance 5 5
Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 12 8
Amortized cost basis with allowance 37 32
Total amortized cost basis 49 40
Related allowance 4 $ 5
Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized cost basis with no allowance 0  
Amortized cost basis with allowance 1  
Total amortized cost basis 1  
Related allowance $ 1  
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Accrued Interest Receivables Reversed) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]      
Accrued interest receivable written off $ 25 $ 15 $ 13
Commercial      
Financing Receivable, Past Due [Line Items]      
Accrued interest receivable written off 16 10 12
Commercial real estate      
Financing Receivable, Past Due [Line Items]      
Accrued interest receivable written off 5 3 1
Consumer      
Financing Receivable, Past Due [Line Items]      
Accrued interest receivable written off $ 4 $ 2 $ 0
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Past Due Loans (Accruing and Nonaccruing)) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees $ 59,410 $ 57,779
Accruing loans 90+ days past due 18 3
Nonaccrual loans that are current 297 222
Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 30,965 30,588
Accruing loans 90+ days past due 14 2
Nonaccrual loans that are current 158 104
Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 16,891 16,684
Accruing loans 90+ days past due 1 1
Nonaccrual loans that are current 114 82
Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 377 383
Accruing loans 90+ days past due 0 0
Nonaccrual loans that are current 2 2
Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 9,333 9,219
Accruing loans 90+ days past due 3 1
Nonaccrual loans that are current 31 20
Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 4,364 4,302
Accruing loans 90+ days past due 10 0
Nonaccrual loans that are current 11  
Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 13,477 13,371
Accruing loans 90+ days past due 3 0
Nonaccrual loans that are current 59 61
Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 2,774 2,669
Accruing loans 90+ days past due 0 0
Nonaccrual loans that are current   22
Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 10,703 10,702
Accruing loans 90+ days past due 3 0
Nonaccrual loans that are current 59 39
Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 14,968 13,820
Accruing loans 90+ days past due 1 1
Nonaccrual loans that are current 80 57
Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 3,641 3,356
Accruing loans 90+ days past due 0 0
Nonaccrual loans that are current 30 17
Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 9,939 8,415
Accruing loans 90+ days past due 0 0
Nonaccrual loans that are current 49 40
Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 810 1,442
Accruing loans 90+ days past due 0
Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 457 474
Accruing loans 90+ days past due 1 1
Nonaccrual loans that are current 1  
Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 121 133
Accruing loans 90+ days past due 0 0
Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 59,221 57,576
Current | Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 30,891 30,519
Current | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 16,857 16,631
Current | Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 377 381
Current | Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 9,309 9,206
Current | Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 4,348 4,301
Current | Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 13,441 13,306
Current | Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 2,774 2,645
Current | Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 10,667 10,661
Current | Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 14,889 13,751
Current | Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 3,609 3,334
Current | Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 9,896 8,375
Current | Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 810 1,442
Current | Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 453 468
Current | Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 121 132
Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 189 203
Total past due | Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 74 69
Total past due | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 34 53
Total past due | Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 2
Total past due | Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 24 13
Total past due | Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 16 1
Total past due | Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 36 65
Total past due | Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 24
Total past due | Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 36 41
Total past due | Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 79 69
Total past due | Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 32 22
Total past due | Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 43 40
Total past due | Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 0
Total past due | Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 4 6
Total past due | Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 1
30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 76 108
30-89 days past due | Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 36 52
30-89 days past due | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 20 38
30-89 days past due | Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 2
30-89 days past due | Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 10 11
30-89 days past due | Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 6 1
30-89 days past due | Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 2 16
30-89 days past due | Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 2
30-89 days past due | Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 2 14
30-89 days past due | Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 38 40
30-89 days past due | Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 20 17
30-89 days past due | Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 16 17
30-89 days past due | Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 0
30-89 days past due | Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 2 5
30-89 days past due | Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 1
90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 113 95
90+ days past due | Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 38 17
90+ days past due | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 14 15
90+ days past due | Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 0
90+ days past due | Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 14 2
90+ days past due | Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 10 0
90+ days past due | Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 34 49
90+ days past due | Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 22
90+ days past due | Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 34 27
90+ days past due | Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 41 29
90+ days past due | Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 12 5
90+ days past due | Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 27 23
90+ days past due | Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 0
90+ days past due | Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 2 1
90+ days past due | Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and leases, net of unearned income and fees 0 0
Nonaccrual loans that are current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 183 108
Nonaccrual loans that are current | Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 127 83
Nonaccrual loans that are current | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 98 65
Nonaccrual loans that are current | Commercial | Leasing    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 2 0
Nonaccrual loans that are current | Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 16 18
Nonaccrual loans that are current | Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 11 0
Nonaccrual loans that are current | Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 28 3
Nonaccrual loans that are current | Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 0 0
Nonaccrual loans that are current | Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 28 3
Nonaccrual loans that are current | Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 28 22
Nonaccrual loans that are current | Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 13 9
Nonaccrual loans that are current | Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 15 13
Nonaccrual loans that are current | Consumer | Construction and other consumer real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 0 0
Nonaccrual loans that are current | Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current 0 0
Nonaccrual loans that are current | Consumer | Other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Nonaccrual loans that are current $ 0 $ 0
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Outstanding Loan Balances (Accruing and Nonaccruing) Categorized by Credit Quality Indicators - Current Year) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Total loans    
2024 $ 8,437 $ 8,155
2023 6,729 12,553
2022 11,321 8,774
2021 7,007 4,982
2020 3,912 3,222
Prior 7,759 6,610
Revolving loans amortized cost basis 13,581 12,896
Revolving loans converted to term loans amortized cost basis 664 587
Total loans (59,410) (57,779)
Commercial    
Total loans    
2024 4,715 4,492
2023 3,552 5,770
2022 4,551 4,436
2021 3,558 2,336
2020 1,911 1,729
Prior 3,796 3,201
Revolving loans amortized cost basis 8,630 8,410
Revolving loans converted to term loans amortized cost basis 252 214
Total loans (30,965) (30,588)
Commercial real estate    
Total loans    
2024 2,451 2,571
2023 2,078 3,477
2022 3,361 2,294
2021 1,521 1,634
2020 1,067 884
Prior 1,734 1,482
Revolving loans amortized cost basis 961 757
Revolving loans converted to term loans amortized cost basis 304 272
Total loans (13,477) (13,371)
Consumer    
Total loans    
2024 1,271 1,092
2023 1,099 3,306
2022 3,409 2,044
2021 1,928 1,012
2020 934 609
Prior 2,229 1,927
Revolving loans amortized cost basis 3,990 3,729
Revolving loans converted to term loans amortized cost basis 108 101
Total loans (14,968) (13,820)
Commercial and industrial | Commercial    
Total loans    
2024 2,576 2,678
2023 2,031 2,572
2022 1,782 1,246
2021 810 645
2020 418 544
Prior 738 644
Revolving loans amortized cost basis 8,366 8,196
Revolving loans converted to term loans amortized cost basis 170 159
Total loans (16,891) (16,684)
Leasing | Commercial    
Total loans    
2024 110 106
2023 83 136
2022 107 48
2021 28 30
2020 13 45
Prior 36 18
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (377) (383)
Owner-occupied | Commercial    
Total loans    
2024 1,412 1,092
2023 936 1,982
2022 1,723 2,067
2021 1,755 1,035
2020 927 757
Prior 2,263 2,020
Revolving loans amortized cost basis 264 214
Revolving loans converted to term loans amortized cost basis 53 52
Total loans (9,333) (9,219)
Municipal | Commercial    
Total loans    
2024 617 616
2023 502 1,080
2022 939 1,075
2021 965 626
2020 553 383
Prior 759 519
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 29 3
Total loans (4,364) (4,302)
Construction and land development | Commercial real estate    
Total loans    
2024 418 576
2023 775 940
2022 715 384
2021 99 91
2020 1 28
Prior 9 4
Revolving loans amortized cost basis 680 519
Revolving loans converted to term loans amortized cost basis 77 127
Total loans (2,774) (2,669)
Term | Commercial real estate    
Total loans    
2024 2,033 1,995
2023 1,303 2,537
2022 2,646 1,910
2021 1,422 1,543
2020 1,066 856
Prior 1,725 1,478
Revolving loans amortized cost basis 281 238
Revolving loans converted to term loans amortized cost basis 227 145
Total loans (10,703) (10,702)
Home equity credit line | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 3,534 3,256
Revolving loans converted to term loans amortized cost basis 107 100
Total loans (3,641) (3,356)
1-4 family residential | Consumer    
Total loans    
2024 1,062 814
2023 873 2,267
2022 2,967 1,826
2021 1,886 991
2020 927 598
Prior 2,224 1,919
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (9,939) (8,415)
Construction and other consumer real estate | Consumer    
Total loans    
2024 157 212
2023 191 1,002
2022 420 200
2021 34 15
2020 5 7
Prior 3 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (810) (1,442)
Bankcard and other revolving plans | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 456 473
Revolving loans converted to term loans amortized cost basis 1 1
Total loans (457) (474)
Other | Consumer    
Total loans    
2024 52 66
2023 35 37
2022 22 18
2021 8 6
2020 2 4
Prior 2 2
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (121) (133)
Pass | Commercial and industrial | Commercial    
Total loans    
2024 2,479 2,654
2023 1,951 2,420
2022 1,504 1,204
2021 759 639
2020 387 494
Prior 679 598
Revolving loans amortized cost basis 8,043 7,973
Revolving loans converted to term loans amortized cost basis 150 151
Total loans (15,952) (16,133)
Pass | Leasing | Commercial    
Total loans    
2024 109 104
2023 79 125
2022 94 47
2021 26 29
2020 12 45
Prior 36 18
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (356) (368)
Pass | Owner-occupied | Commercial    
Total loans    
2024 1,346 1,080
2023 907 1,945
2022 1,606 2,020
2021 1,657 1,002
2020 900 721
Prior 2,097 1,907
Revolving loans amortized cost basis 234 212
Revolving loans converted to term loans amortized cost basis 47 52
Total loans (8,794) (8,939)
Pass | Municipal | Commercial    
Total loans    
2024 604 601
2023 498 1,080
2022 939 1,069
2021 960 623
2020 553 382
Prior 753 512
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 29 3
Total loans (4,336) (4,270)
Pass | Construction and land development | Commercial real estate    
Total loans    
2024 361 553
2023 701 938
2022 445 355
2021 4 56
2020 1 7
Prior 9 4
Revolving loans amortized cost basis 680 518
Revolving loans converted to term loans amortized cost basis 52 127
Total loans (2,253) (2,558)
Pass | Term | Commercial real estate    
Total loans    
2024 1,687 1,861
2023 1,198 2,385
2022 2,093 1,833
2021 1,278 1,449
2020 1,053 804
Prior 1,608 1,438
Revolving loans amortized cost basis 254 238
Revolving loans converted to term loans amortized cost basis 175 110
Total loans (9,346) (10,118)
Pass | Home equity credit line | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 3,506 3,237
Revolving loans converted to term loans amortized cost basis 99 97
Total loans (3,605) (3,334)
Pass | 1-4 family residential | Consumer    
Total loans    
2024 1,062 814
2023 870 2,264
2022 2,959 1,823
2021 1,877 988
2020 925 594
Prior 2,197 1,891
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (9,890) (8,374)
Pass | Construction and other consumer real estate | Consumer    
Total loans    
2024 157 212
2023 191 1,002
2022 420 200
2021 34 15
2020 5 7
Prior 3 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (810) (1,442)
Pass | Bankcard and other revolving plans | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 453 471
Revolving loans converted to term loans amortized cost basis 1 1
Total loans (454) (472)
Pass | Other | Consumer    
Total loans    
2024 52 66
2023 35 37
2022 22 18
2021 8 6
2020 2 4
Prior 2 2
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (121) (133)
Special Mention | Commercial and industrial | Commercial    
Total loans    
2024 37 8
2023 24 98
2022 47 34
2021 8 2
2020 2 20
Prior 34 37
Revolving loans amortized cost basis 85 103
Revolving loans converted to term loans amortized cost basis 5 0
Total loans (242) (302)
Special Mention | Leasing | Commercial    
Total loans    
2024 0 2
2023 0 9
2022 2 1
2021 0 1
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (2) (13)
Special Mention | Owner-occupied | Commercial    
Total loans    
2024 38 2
2023 0 5
2022 38 17
2021 31 5
2020 2 17
Prior 18 15
Revolving loans amortized cost basis 18 0
Revolving loans converted to term loans amortized cost basis 1 0
Total loans (146) (61)
Special Mention | Municipal | Commercial    
Total loans    
2024 0 7
2023 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 (13)
Special Mention | Construction and land development | Commercial real estate    
Total loans    
2024 0 0
2023 22 0
2022 21 29
2021 17 30
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 25 0
Total loans (85) (59)
Special Mention | Term | Commercial real estate    
Total loans    
2024 48 55
2023 0 108
2022 87 65
2021 0 78
2020 0 44
Prior 5 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (140) (356)
Special Mention | Home equity credit line | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | 1-4 family residential | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | Construction and other consumer real estate | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | Bankcard and other revolving plans | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | Other | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Accruing Substandard | Commercial and industrial | Commercial    
Total loans    
2024 53 11
2023 43 18
2022 200 7
2021 26 2
2020 28 19
Prior 21 8
Revolving loans amortized cost basis 200 99
Revolving loans converted to term loans amortized cost basis 12 3
Total loans (583) (167)
Accruing Substandard | Leasing | Commercial    
Total loans    
2024 1 0
2023 3 0
2022 10 0
2021 2 0
2020 1 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (17) 0
Accruing Substandard | Owner-occupied | Commercial    
Total loans    
2024 23 10
2023 28 31
2022 75 29
2021 66 21
2020 25 16
Prior 133 90
Revolving loans amortized cost basis 7 2
Revolving loans converted to term loans amortized cost basis 5 0
Total loans (362) (199)
Accruing Substandard | Municipal | Commercial    
Total loans    
2024 10 8
2023 4 0
2022 0 6
2021 0 3
2020 0 1
Prior 3 1
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (17) (19)
Accruing Substandard | Construction and land development | Commercial real estate    
Total loans    
2024 57 23
2023 52 2
2022 249 0
2021 78 5
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (436) (30)
Accruing Substandard | Term | Commercial real estate    
Total loans    
2024 298 79
2023 105 18
2022 443 12
2021 144 16
2020 13 5
Prior 102 24
Revolving loans amortized cost basis 27 0
Revolving loans converted to term loans amortized cost basis 26 35
Total loans (1,158) (189)
Accruing Substandard | Home equity credit line | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 6 4
Revolving loans converted to term loans amortized cost basis 0 1
Total loans (6) (5)
Accruing Substandard | 1-4 family residential | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 1
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 (1)
Accruing Substandard | Construction and other consumer real estate | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Accruing Substandard | Bankcard and other revolving plans | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 2 2
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (2) (2)
Accruing Substandard | Other | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Nonaccrual | Commercial and industrial | Commercial    
Total loans    
2024 7 5
2023 13 36
2022 31 1
2021 17 2
2020 1 11
Prior 4 1
Revolving loans amortized cost basis 38 21
Revolving loans converted to term loans amortized cost basis 3 5
Total loans (114) (82)
Nonaccrual | Leasing | Commercial    
Total loans    
2024 0 0
2023 1 2
2022 1 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (2) (2)
Nonaccrual | Owner-occupied | Commercial    
Total loans    
2024 5 0
2023 1 1
2022 4 1
2021 1 7
2020 0 3
Prior 15 8
Revolving loans amortized cost basis 5 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (31) (20)
Nonaccrual | Municipal | Commercial    
Total loans    
2024 3 0
2023 0 0
2022 0 0
2021 5 0
2020 0 0
Prior 3 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (11) 0
Nonaccrual | Construction and land development | Commercial real estate    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 21
Prior 0 0
Revolving loans amortized cost basis 0 1
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 (22)
Nonaccrual | Term | Commercial real estate    
Total loans    
2024 0 0
2023 0 26
2022 23 0
2021 0 0
2020 0 3
Prior 10 10
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 26 0
Total loans (59) (39)
Nonaccrual | Home equity credit line | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 22 15
Revolving loans converted to term loans amortized cost basis 8 2
Total loans (30) (17)
Nonaccrual | 1-4 family residential | Consumer    
Total loans    
2024 0 0
2023 3 3
2022 8 3
2021 9 3
2020 2 4
Prior 27 27
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (49) (40)
Nonaccrual | Construction and other consumer real estate | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Nonaccrual | Bankcard and other revolving plans | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 1 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans (1) 0
Nonaccrual | Other | Consumer    
Total loans    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans $ 0 $ 0
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Outstanding Loan Balances (Accruing and Nonaccruing) Categorized by Credit Quality Indicators - Prior Year) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Total loans    
2023 $ 8,437 $ 8,155
2022 6,729 12,553
2021 11,321 8,774
2020 7,007 4,982
2019 3,912 3,222
Prior 7,759 6,610
Revolving loans amortized cost basis 13,581 12,896
Revolving loans converted to term loans amortized cost basis 664 587
Total loans 59,410 57,779
Commercial    
Total loans    
2023 4,715 4,492
2022 3,552 5,770
2021 4,551 4,436
2020 3,558 2,336
2019 1,911 1,729
Prior 3,796 3,201
Revolving loans amortized cost basis 8,630 8,410
Revolving loans converted to term loans amortized cost basis 252 214
Total loans 30,965 30,588
Commercial real estate    
Total loans    
2023 2,451 2,571
2022 2,078 3,477
2021 3,361 2,294
2020 1,521 1,634
2019 1,067 884
Prior 1,734 1,482
Revolving loans amortized cost basis 961 757
Revolving loans converted to term loans amortized cost basis 304 272
Total loans 13,477 13,371
Consumer    
Total loans    
2023 1,271 1,092
2022 1,099 3,306
2021 3,409 2,044
2020 1,928 1,012
2019 934 609
Prior 2,229 1,927
Revolving loans amortized cost basis 3,990 3,729
Revolving loans converted to term loans amortized cost basis 108 101
Total loans 14,968 13,820
Commercial and industrial | Commercial    
Total loans    
2023 2,576 2,678
2022 2,031 2,572
2021 1,782 1,246
2020 810 645
2019 418 544
Prior 738 644
Revolving loans amortized cost basis 8,366 8,196
Revolving loans converted to term loans amortized cost basis 170 159
Total loans 16,891 16,684
Leasing | Commercial    
Total loans    
2023 110 106
2022 83 136
2021 107 48
2020 28 30
2019 13 45
Prior 36 18
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 377 383
Owner-occupied | Commercial    
Total loans    
2023 1,412 1,092
2022 936 1,982
2021 1,723 2,067
2020 1,755 1,035
2019 927 757
Prior 2,263 2,020
Revolving loans amortized cost basis 264 214
Revolving loans converted to term loans amortized cost basis 53 52
Total loans 9,333 9,219
Municipal | Commercial    
Total loans    
2023 617 616
2022 502 1,080
2021 939 1,075
2020 965 626
2019 553 383
Prior 759 519
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 29 3
Total loans 4,364 4,302
Construction and land development | Commercial real estate    
Total loans    
2023 418 576
2022 775 940
2021 715 384
2020 99 91
2019 1 28
Prior 9 4
Revolving loans amortized cost basis 680 519
Revolving loans converted to term loans amortized cost basis 77 127
Total loans 2,774 2,669
Term | Commercial real estate    
Total loans    
2023 2,033 1,995
2022 1,303 2,537
2021 2,646 1,910
2020 1,422 1,543
2019 1,066 856
Prior 1,725 1,478
Revolving loans amortized cost basis 281 238
Revolving loans converted to term loans amortized cost basis 227 145
Total loans 10,703 10,702
Home equity credit line | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 3,534 3,256
Revolving loans converted to term loans amortized cost basis 107 100
Total loans 3,641 3,356
1-4 family residential | Consumer    
Total loans    
2023 1,062 814
2022 873 2,267
2021 2,967 1,826
2020 1,886 991
2019 927 598
Prior 2,224 1,919
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 9,939 8,415
Construction and other consumer real estate | Consumer    
Total loans    
2023 157 212
2022 191 1,002
2021 420 200
2020 34 15
2019 5 7
Prior 3 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 810 1,442
Bankcard and other revolving plans | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 456 473
Revolving loans converted to term loans amortized cost basis 1 1
Total loans 457 474
Other | Consumer    
Total loans    
2023 52 66
2022 35 37
2021 22 18
2020 8 6
2019 2 4
Prior 2 2
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 121 133
Pass | Commercial and industrial | Commercial    
Total loans    
2023 2,479 2,654
2022 1,951 2,420
2021 1,504 1,204
2020 759 639
2019 387 494
Prior 679 598
Revolving loans amortized cost basis 8,043 7,973
Revolving loans converted to term loans amortized cost basis 150 151
Total loans 15,952 16,133
Pass | Leasing | Commercial    
Total loans    
2023 109 104
2022 79 125
2021 94 47
2020 26 29
2019 12 45
Prior 36 18
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 356 368
Pass | Owner-occupied | Commercial    
Total loans    
2023 1,346 1,080
2022 907 1,945
2021 1,606 2,020
2020 1,657 1,002
2019 900 721
Prior 2,097 1,907
Revolving loans amortized cost basis 234 212
Revolving loans converted to term loans amortized cost basis 47 52
Total loans 8,794 8,939
Pass | Municipal | Commercial    
Total loans    
2023 604 601
2022 498 1,080
2021 939 1,069
2020 960 623
2019 553 382
Prior 753 512
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 29 3
Total loans 4,336 4,270
Pass | Construction and land development | Commercial real estate    
Total loans    
2023 361 553
2022 701 938
2021 445 355
2020 4 56
2019 1 7
Prior 9 4
Revolving loans amortized cost basis 680 518
Revolving loans converted to term loans amortized cost basis 52 127
Total loans 2,253 2,558
Pass | Term | Commercial real estate    
Total loans    
2023 1,687 1,861
2022 1,198 2,385
2021 2,093 1,833
2020 1,278 1,449
2019 1,053 804
Prior 1,608 1,438
Revolving loans amortized cost basis 254 238
Revolving loans converted to term loans amortized cost basis 175 110
Total loans 9,346 10,118
Pass | Home equity credit line | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 3,506 3,237
Revolving loans converted to term loans amortized cost basis 99 97
Total loans 3,605 3,334
Pass | 1-4 family residential | Consumer    
Total loans    
2023 1,062 814
2022 870 2,264
2021 2,959 1,823
2020 1,877 988
2019 925 594
Prior 2,197 1,891
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 9,890 8,374
Pass | Construction and other consumer real estate | Consumer    
Total loans    
2023 157 212
2022 191 1,002
2021 420 200
2020 34 15
2019 5 7
Prior 3 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 810 1,442
Pass | Bankcard and other revolving plans | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 453 471
Revolving loans converted to term loans amortized cost basis 1 1
Total loans 454 472
Pass | Other | Consumer    
Total loans    
2023 52 66
2022 35 37
2021 22 18
2020 8 6
2019 2 4
Prior 2 2
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 121 133
Special Mention | Commercial and industrial | Commercial    
Total loans    
2023 37 8
2022 24 98
2021 47 34
2020 8 2
2019 2 20
Prior 34 37
Revolving loans amortized cost basis 85 103
Revolving loans converted to term loans amortized cost basis 5 0
Total loans 242 302
Special Mention | Leasing | Commercial    
Total loans    
2023 0 2
2022 0 9
2021 2 1
2020 0 1
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 2 13
Special Mention | Owner-occupied | Commercial    
Total loans    
2023 38 2
2022 0 5
2021 38 17
2020 31 5
2019 2 17
Prior 18 15
Revolving loans amortized cost basis 18 0
Revolving loans converted to term loans amortized cost basis 1 0
Total loans 146 61
Special Mention | Municipal | Commercial    
Total loans    
2023 0 7
2022 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 13
Special Mention | Construction and land development | Commercial real estate    
Total loans    
2023 0 0
2022 22 0
2021 21 29
2020 17 30
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 25 0
Total loans 85 59
Special Mention | Term | Commercial real estate    
Total loans    
2023 48 55
2022 0 108
2021 87 65
2020 0 78
2019 0 44
Prior 5 6
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 140 356
Special Mention | Home equity credit line | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | 1-4 family residential | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | Construction and other consumer real estate | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | Bankcard and other revolving plans | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Special Mention | Other | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Accruing Substandard | Commercial and industrial | Commercial    
Total loans    
2023 53 11
2022 43 18
2021 200 7
2020 26 2
2019 28 19
Prior 21 8
Revolving loans amortized cost basis 200 99
Revolving loans converted to term loans amortized cost basis 12 3
Total loans 583 167
Accruing Substandard | Leasing | Commercial    
Total loans    
2023 1 0
2022 3 0
2021 10 0
2020 2 0
2019 1 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 17 0
Accruing Substandard | Owner-occupied | Commercial    
Total loans    
2023 23 10
2022 28 31
2021 75 29
2020 66 21
2019 25 16
Prior 133 90
Revolving loans amortized cost basis 7 2
Revolving loans converted to term loans amortized cost basis 5 0
Total loans 362 199
Accruing Substandard | Municipal | Commercial    
Total loans    
2023 10 8
2022 4 0
2021 0 6
2020 0 3
2019 0 1
Prior 3 1
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 17 19
Accruing Substandard | Construction and land development | Commercial real estate    
Total loans    
2023 57 23
2022 52 2
2021 249 0
2020 78 5
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 436 30
Accruing Substandard | Term | Commercial real estate    
Total loans    
2023 298 79
2022 105 18
2021 443 12
2020 144 16
2019 13 5
Prior 102 24
Revolving loans amortized cost basis 27 0
Revolving loans converted to term loans amortized cost basis 26 35
Total loans 1,158 189
Accruing Substandard | Home equity credit line | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 6 4
Revolving loans converted to term loans amortized cost basis 0 1
Total loans 6 5
Accruing Substandard | 1-4 family residential | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 1
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 1
Accruing Substandard | Construction and other consumer real estate | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Accruing Substandard | Bankcard and other revolving plans | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 2 2
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 2 2
Accruing Substandard | Other | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Nonaccrual | Commercial and industrial | Commercial    
Total loans    
2023 7 5
2022 13 36
2021 31 1
2020 17 2
2019 1 11
Prior 4 1
Revolving loans amortized cost basis 38 21
Revolving loans converted to term loans amortized cost basis 3 5
Total loans 114 82
Nonaccrual | Leasing | Commercial    
Total loans    
2023 0 0
2022 1 2
2021 1 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 2 2
Nonaccrual | Owner-occupied | Commercial    
Total loans    
2023 5 0
2022 1 1
2021 4 1
2020 1 7
2019 0 3
Prior 15 8
Revolving loans amortized cost basis 5 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 31 20
Nonaccrual | Municipal | Commercial    
Total loans    
2023 3 0
2022 0 0
2021 0 0
2020 5 0
2019 0 0
Prior 3 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 11 0
Nonaccrual | Construction and land development | Commercial real estate    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 21
Prior 0 0
Revolving loans amortized cost basis 0 1
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 22
Nonaccrual | Term | Commercial real estate    
Total loans    
2023 0 0
2022 0 26
2021 23 0
2020 0 0
2019 0 3
Prior 10 10
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 26 0
Total loans 59 39
Nonaccrual | Home equity credit line | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 22 15
Revolving loans converted to term loans amortized cost basis 8 2
Total loans 30 17
Nonaccrual | 1-4 family residential | Consumer    
Total loans    
2023 0 0
2022 3 3
2021 8 3
2020 9 3
2019 2 4
Prior 27 27
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 49 40
Nonaccrual | Construction and other consumer real estate | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 0 0
Nonaccrual | Bankcard and other revolving plans | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 1 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans 1 0
Nonaccrual | Other | Consumer    
Total loans    
2023 0 0
2022 0 0
2021 0 0
2020 0 0
2019 0 0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans amortized cost basis 0 0
Total loans $ 0 $ 0
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Gross Charge-offs by Loan Origination Year) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Gross charge-offs    
2024/2023 $ 0 $ 1
2023/2022 10 12
2022/2021 24 6
2021/2020 2 0
2020/2019 0 1
Prior 12 4
Revolving loans gross charge-offs 39 36
Revolving loans converted to term loans gross charge-offs 4 2
Total 91 62
Commercial    
Gross charge-offs    
2024/2023 0  
2023/2022 3  
2022/2021 20  
2021/2020 2  
2020/2019 0  
Prior 9  
Revolving loans gross charge-offs 30  
Revolving loans converted to term loans gross charge-offs 4  
Total 68 45
Commercial | Commercial and industrial    
Gross charge-offs    
2024/2023 0 1
2023/2022 3 10
2022/2021 19 6
2021/2020 2 0
2020/2019 0 0
Prior 9 2
Revolving loans gross charge-offs 30 24
Revolving loans converted to term loans gross charge-offs 4 2
Total 67 45
Commercial | Owner-occupied    
Gross charge-offs    
2024/2023 0  
2023/2022 0  
2022/2021 1  
2021/2020 0  
2020/2019 0  
Prior 0  
Revolving loans gross charge-offs 0  
Revolving loans converted to term loans gross charge-offs 0  
Total 1  
Commercial real estate    
Gross charge-offs    
2024/2023   0
2023/2022   2
2022/2021   0
2021/2020   0
2020/2019   1
Prior   0
Revolving loans gross charge-offs   0
Revolving loans converted to term loans gross charge-offs   0
Total 11 3
Commercial real estate | Construction and land development    
Gross charge-offs    
2024/2023   0
2023/2022   0
2022/2021   0
2021/2020   0
2020/2019   1
Prior   0
Revolving loans gross charge-offs   0
Revolving loans converted to term loans gross charge-offs   0
Total   1
Commercial real estate | Term    
Gross charge-offs    
2024/2023 0 0
2023/2022 7 2
2022/2021 4 0
2021/2020 0 0
2020/2019 0 0
Prior 0 0
Revolving loans gross charge-offs 0 0
Revolving loans converted to term loans gross charge-offs 0 0
Total 11 2
Consumer    
Gross charge-offs    
2024/2023 0 0
2023/2022 0 0
2022/2021 0 0
2021/2020 0 0
2020/2019 0 0
Prior 3 2
Revolving loans gross charge-offs 9 12
Revolving loans converted to term loans gross charge-offs 0 0
Total 12 14
Consumer | Home equity credit line    
Gross charge-offs    
2024/2023 0 0
2023/2022 0 0
2022/2021 0 0
2021/2020 0 0
2020/2019 0 0
Prior 0 0
Revolving loans gross charge-offs 1 3
Revolving loans converted to term loans gross charge-offs 0 0
Total 1 3
Consumer | 1-4 family residential    
Gross charge-offs    
2024/2023 0 0
2023/2022 0 0
2022/2021 0 0
2021/2020 0 0
2020/2019 0 0
Prior 1 2
Revolving loans gross charge-offs 0 0
Revolving loans converted to term loans gross charge-offs 0 0
Total 1 2
Consumer | Bankcard and other revolving plans    
Gross charge-offs    
2024/2023 0 0
2023/2022 0 0
2022/2021 0 0
2021/2020 0 0
2020/2019 0 0
Prior 0 0
Revolving loans gross charge-offs 8 9
Revolving loans converted to term loans gross charge-offs 0 0
Total 8 $ 9
Consumer | Other    
Gross charge-offs    
2024/2023 0  
2023/2022 0  
2022/2021 0  
2021/2020 0  
2020/2019 0  
Prior 2  
Revolving loans gross charge-offs 0  
Revolving loans converted to term loans gross charge-offs 0  
Total $ 2  
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Selected Information on Modified Loans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 470 $ 264
Percentage of total loans 0.80% 0.50%
Unfunded lending commitments $ 11 $ 22
Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 19 4
Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 257 256
Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 3 1
Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 1 2
Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 190 1
Extended Maturity and Interest Rate Reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty   185
Commercial    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 128 $ 69
Percentage of total loans 0.40% 0.20%
Commercial | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 19 $ 4
Commercial | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 60 63
Commercial | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 1 2
Commercial | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 48 0
Commercial | Commercial and industrial    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 105 $ 47
Percentage of total loans 0.60% 0.30%
Commercial | Commercial and industrial | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 19 $ 0
Commercial | Commercial and industrial | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 37 46
Commercial | Commercial and industrial | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial and industrial | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 1 1
Commercial | Commercial and industrial | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 48 0
Commercial | Owner-occupied    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 12 $ 14
Percentage of total loans 0.10% 0.20%
Commercial | Owner-occupied | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 4
Commercial | Owner-occupied | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 12 9
Commercial | Owner-occupied | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial | Owner-occupied | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 1
Commercial | Owner-occupied | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial | Municipal    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 11 $ 8
Percentage of total loans 0.30% 0.20%
Commercial | Municipal | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Commercial | Municipal | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 11 8
Commercial | Municipal | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial | Municipal | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial | Municipal | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 332 $ 192
Percentage of total loans 2.50% 1.40%
Commercial real estate | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Commercial real estate | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 197 192
Commercial real estate | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 135 0
Commercial real estate | Construction and land development    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 43 $ 27
Percentage of total loans 1.60% 1.00%
Commercial real estate | Construction and land development | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Commercial real estate | Construction and land development | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 18 27
Commercial real estate | Construction and land development | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate | Construction and land development | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate | Construction and land development | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 25 0
Commercial real estate | Term    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 289 $ 165
Percentage of total loans 2.70% 1.50%
Commercial real estate | Term | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Commercial real estate | Term | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 179 165
Commercial real estate | Term | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate | Term | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Commercial real estate | Term | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 110 0
Consumer    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 10 $ 3
Percentage of total loans 0.10% 0.00%
Consumer | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Consumer | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 1
Consumer | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 3 1
Consumer | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Consumer | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 7 1
Consumer | Home equity credit line    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 2  
Percentage of total loans 0.10%  
Consumer | Home equity credit line | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0  
Consumer | Home equity credit line | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0  
Consumer | Home equity credit line | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 1  
Consumer | Home equity credit line | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0  
Consumer | Home equity credit line | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 1  
Consumer | 1-4 family residential    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 7 $ 2
Percentage of total loans 0.10% 0.00%
Consumer | 1-4 family residential | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Consumer | 1-4 family residential | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Consumer | 1-4 family residential | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 2 1
Consumer | 1-4 family residential | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Consumer | 1-4 family residential | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 5 1
Consumer | Bankcard and other revolving plans    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 1 $ 1
Percentage of total loans 0.20% 0.20%
Consumer | Bankcard and other revolving plans | Interest rate reduction    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Consumer | Bankcard and other revolving plans | Maturity or term extension    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 1
Consumer | Bankcard and other revolving plans | Principal forgiveness    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Consumer | Bankcard and other revolving plans | Payment deferral    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty 0 0
Consumer | Bankcard and other revolving plans | Multiple modification types    
Financing Receivable, Modifications [Line Items]    
Loan modifications to borrowers experiencing financial difficulty $ 1 $ 0
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary of Financial Impact of Loan Modifications) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.60% 4.40%
Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 10 months 16 months
Commercial | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.70% 4.40%
Commercial | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 9 months 14 months
Commercial | Commercial and industrial | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.70%  
Commercial | Commercial and industrial | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 7 months 13 months
Commercial | Owner-occupied | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.00% 4.40%
Commercial | Owner-occupied | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 12 months 18 months
Commercial | Municipal | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.00% 0.00%
Commercial | Municipal | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 19 months 12 months
Commercial real estate | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.50% 0.00%
Commercial real estate | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 9 months 16 months
Commercial real estate | Construction and land development | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.20% 0.00%
Commercial real estate | Construction and land development | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 9 months 8 months
Commercial real estate | Term | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.60% 0.00%
Commercial real estate | Term | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 9 months 18 months
Consumer | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 2.70% 0.00%
Consumer | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 32 months 82 months
Consumer | Home equity credit line | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 5.60% 0.00%
Consumer | Home equity credit line | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 39 months 0 months
Consumer | 1-4 family residential | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 1.70% 0.00%
Consumer | 1-4 family residential | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 36 months 103 months
Consumer | Bankcard and other revolving plans | Interest rate reduction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average interest rate reduction (in percentage points) 0.30% 0.00%
Consumer | Bankcard and other revolving plans | Maturity or term extension    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Weighted-average term extension (in months) 3 months 50 months
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Summary Aging Analysis, Modified) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total $ 470 $ 264
Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 457 251
Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 13 13
30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 4 13
90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 9 0
Commercial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 128 69
Commercial | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 116 65
Commercial | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 12 4
Commercial | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 3 4
Commercial | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 9 0
Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 105 47
Commercial | Commercial and industrial | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 102 44
Commercial | Commercial and industrial | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 3 3
Commercial | Commercial and industrial | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 2 3
Commercial | Commercial and industrial | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 0
Commercial | Owner-occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 12 14
Commercial | Owner-occupied | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 11 13
Commercial | Owner-occupied | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 1
Commercial | Owner-occupied | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 1
Commercial | Owner-occupied | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Commercial | Municipal    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 11 8
Commercial | Municipal | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 3 8
Commercial | Municipal | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 8 0
Commercial | Municipal | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Commercial | Municipal | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 8 0
Commercial real estate    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 332 192
Commercial real estate | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 332 183
Commercial real estate | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 9
Commercial real estate | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 9
Commercial real estate | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Commercial real estate | Construction and land development    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 43 27
Commercial real estate | Construction and land development | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 43 27
Commercial real estate | Construction and land development | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Commercial real estate | Construction and land development | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Commercial real estate | Construction and land development | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Commercial real estate | Term    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 289 165
Commercial real estate | Term | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 289 156
Commercial real estate | Term | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 9
Commercial real estate | Term | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 9
Commercial real estate | Term | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Consumer    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 10 3
Consumer | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 9 3
Consumer | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 0
Consumer | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 0
Consumer | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Consumer | Home equity credit line    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 2  
Consumer | Home equity credit line | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 2  
Consumer | Home equity credit line | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0  
Consumer | Home equity credit line | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0  
Consumer | Home equity credit line | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0  
Consumer | 1-4 family residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 7 2
Consumer | 1-4 family residential | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 6 2
Consumer | 1-4 family residential | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 0
Consumer | 1-4 family residential | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 0
Consumer | 1-4 family residential | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Consumer | Bankcard and other revolving plans    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 1
Consumer | Bankcard and other revolving plans | Current    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 1 1
Consumer | Bankcard and other revolving plans | Total past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Consumer | Bankcard and other revolving plans | 30-89 days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total 0 0
Consumer | Bankcard and other revolving plans | 90+ days past due    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Total $ 0 $ 0
v3.25.0.1
LOANS, LEASES, AND ALLOWANCE FOR CREDIT LOSSES (Collateral-Dependent Loans) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost $ 66 $ 57
Owner-occupied | Commercial | Retail Facility    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost $ 6  
Weighted Average LTV 64.00%  
Owner-occupied | Commercial | Hospital    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost   $ 7
Weighted Average LTV   17.00%
Municipal | Commercial | Multifamily Apartments    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost $ 5  
Weighted Average LTV 174.00%  
Construction and land development | Commercial real estate | Office Building    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost   $ 22
Weighted Average LTV   92.00%
Term | Commercial real estate | Office Building    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost $ 49 $ 28
Weighted Average LTV 98.00% 87.00%
Home equity credit line | Consumer | Single Family Residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost $ 3  
Weighted Average LTV 38.00%  
1-4 family residential | Consumer | Single Family Residential    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Amortized Cost $ 3  
Weighted Average LTV 29.00%  
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount $ 24,553 $ 22,148  
Deferred loss in OCI 94    
Derivative liability, fair value 350 333  
Debt securities available for sale 10,601 11,759  
U.S. Treasury, agencies, and corporations      
Derivative Instruments, Gain (Loss) [Line Items]      
Debt securities available for sale 781 585  
Asset Pledged as Collateral | Security repurchase agreements      
Derivative Instruments, Gain (Loss) [Line Items]      
Cash 3    
Asset Pledged as Collateral | Security repurchase agreements | U.S. Treasury, agencies, and corporations      
Derivative Instruments, Gain (Loss) [Line Items]      
Debt securities available for sale 180    
Derivatives designated as hedges      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount 6,218 6,521  
Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Debt securities available for sale 10,200    
Fair Value Hedging | Derivatives designated as hedges | Pay-Fixed Interest Rate Swap      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount 1,000    
Fair Value Hedging | Derivatives designated as hedges | Asset Hedge, Pay-Fixed, Receive Floating Interest Rate Swap      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount 1,200    
Cash Flow Hedging | Derivatives designated as hedges | Pay-Fixed Interest Rate Swap      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount     $ 2,500
Cash Flow Hedging | Derivatives designated as hedges | Pay-Fixed, Receive-Floating Swap      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount 500    
Cash Flow Hedging | Derivatives designated as hedges | Receive-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, notional amount $ 550 $ 1,450  
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Notional and Recorded Fair Values) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]    
Notional amount $ 24,553,000 $ 22,148,000
Derivative asset, fair value 446,000 420,000
Derivative liability, fair value 350,000 333,000
Net credit valuation adjustment reducing fair value 9,000 9,000
Other assets    
Derivative [Line Items]    
Derivative asset, fair value 446,000 420,000
Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value 350,000 333,000
Derivatives designated as hedging instruments    
Derivative [Line Items]    
Notional amount 6,218,000 6,521,000
Derivatives designated as hedging instruments | Other assets    
Derivative [Line Items]    
Derivative asset, fair value 93,000 78,000
Derivatives designated as hedging instruments | Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value 2,000 0
Derivatives designated as hedging instruments | Receive-fixed interest rate swaps | Cash Flow Hedging    
Derivative [Line Items]    
Notional amount 550,000 1,450,000
Derivatives designated as hedging instruments | Receive-fixed interest rate swaps | Other assets | Cash Flow Hedging    
Derivative [Line Items]    
Derivative asset, fair value 0 0
Derivatives designated as hedging instruments | Receive-fixed interest rate swaps | Other liabilities | Cash Flow Hedging    
Derivative [Line Items]    
Derivative liability, fair value 2,000 0
Derivatives designated as hedging instruments | Pay-fixed interest rate swaps | Cash Flow Hedging    
Derivative [Line Items]    
Notional amount 500,000 500,000
Derivatives designated as hedging instruments | Pay-fixed interest rate swaps | Other assets | Cash Flow Hedging    
Derivative [Line Items]    
Derivative asset, fair value 0 0
Derivatives designated as hedging instruments | Pay-fixed interest rate swaps | Other liabilities | Cash Flow Hedging    
Derivative [Line Items]    
Derivative liability, fair value 0 0
Derivatives designated as hedging instruments | Debt hedges: Receive-fixed interest rate swaps | Fair Value Hedging    
Derivative [Line Items]    
Notional amount 500,000 0
Derivatives designated as hedging instruments | Debt hedges: Receive-fixed interest rate swaps | Other assets | Fair Value Hedging    
Derivative [Line Items]    
Derivative asset, fair value 0 0
Derivatives designated as hedging instruments | Debt hedges: Receive-fixed interest rate swaps | Other liabilities | Fair Value Hedging    
Derivative [Line Items]    
Derivative liability, fair value 0 0
Derivatives designated as hedging instruments | Asset hedges: Pay-fixed interest rate swaps | Fair Value Hedging    
Derivative [Line Items]    
Notional amount 4,668,000 4,571,000
Derivatives designated as hedging instruments | Asset hedges: Pay-fixed interest rate swaps | Other assets | Fair Value Hedging    
Derivative [Line Items]    
Derivative asset, fair value 93,000 78,000
Derivatives designated as hedging instruments | Asset hedges: Pay-fixed interest rate swaps | Other liabilities | Fair Value Hedging    
Derivative [Line Items]    
Derivative liability, fair value 0 0
Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Notional amount 18,335,000 15,627,000
Derivatives not designated as hedging instruments | Other assets    
Derivative [Line Items]    
Derivative asset, fair value 353,000 342,000
Derivatives not designated as hedging instruments | Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value 348,000 333,000
Derivatives not designated as hedging instruments | Customer interest rate derivatives    
Derivative [Line Items]    
Notional amount 16,833,000 14,375,000
Derivatives not designated as hedging instruments | Customer interest rate derivatives | Other assets    
Derivative [Line Items]    
Derivative asset, fair value 348,000 337,000
Derivatives not designated as hedging instruments | Customer interest rate derivatives | Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value 346,000 330,000
Derivatives not designated as hedging instruments | Other interest rate derivatives    
Derivative [Line Items]    
Notional amount 1,105,000 1,001,000
Derivatives not designated as hedging instruments | Other interest rate derivatives | Other assets    
Derivative [Line Items]    
Derivative asset, fair value 1,000 1,000
Derivatives not designated as hedging instruments | Other interest rate derivatives | Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value 0 0
Derivatives not designated as hedging instruments | Foreign exchange derivatives    
Derivative [Line Items]    
Notional amount 373,000 216,000
Derivatives not designated as hedging instruments | Foreign exchange derivatives | Other assets    
Derivative [Line Items]    
Derivative asset, fair value 4,000 3,000
Derivatives not designated as hedging instruments | Foreign exchange derivatives | Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value 2,000 3,000
Derivatives not designated as hedging instruments | Purchased credit derivatives    
Derivative [Line Items]    
Notional amount 24,000 35,000
Derivatives not designated as hedging instruments | Purchased credit derivatives | Other assets    
Derivative [Line Items]    
Derivative asset, fair value 0 1,000
Derivatives not designated as hedging instruments | Purchased credit derivatives | Other liabilities    
Derivative [Line Items]    
Derivative liability, fair value $ 0 $ 0
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Derivative gain (loss) recognized/reclassified) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain/(loss) reclassified from AOCI into income $ (89) $ (124) $ (21)
Gains to be reclassified within the next 12 months into interest income 63 118  
Derivatives designated as hedges      
Derivative Instruments, Gain (Loss) [Line Items]      
Effective portion of derivative gain/(loss) deferred in AOCI (4) 35  
Amount of gain/(loss) reclassified from AOCI into income (118) (165)  
Interest on fair value hedges 80 49  
Hedge ineffectiveness / AOCI reclass due to missed forecast (1) 0  
Derivatives designated as hedges | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Terminated or redesignated, unamortized basis adjustments 3 3  
Derivatives designated as hedges | Cash Flow Hedging | Receive-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Effective portion of derivative gain/(loss) deferred in AOCI (8) 31  
Amount of gain/(loss) reclassified from AOCI into income (126) (170)  
Interest on fair value hedges 0 0  
Hedge ineffectiveness / AOCI reclass due to missed forecast 0 0  
Derivatives designated as hedges | Cash Flow Hedging | Pay-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Effective portion of derivative gain/(loss) deferred in AOCI 4 4  
Amount of gain/(loss) reclassified from AOCI into income 8 5  
Interest on fair value hedges 0 0  
Hedge ineffectiveness / AOCI reclass due to missed forecast 0 0  
Derivatives designated as hedges | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Terminated or redesignated, unamortized basis adjustments 39 46  
Derivatives designated as hedges | Fair Value Hedging | Debt hedges: Receive-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Effective portion of derivative gain/(loss) deferred in AOCI 0 0  
Amount of gain/(loss) reclassified from AOCI into income 0 0  
Interest on fair value hedges (8) (9)  
Hedge ineffectiveness / AOCI reclass due to missed forecast 0 0  
Derivatives designated as hedges | Fair Value Hedging | Asset hedges: Pay-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Effective portion of derivative gain/(loss) deferred in AOCI 0 0  
Amount of gain/(loss) reclassified from AOCI into income 0 0  
Interest on fair value hedges 88 58  
Hedge ineffectiveness / AOCI reclass due to missed forecast $ (1) $ 0  
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Derivatives Not Designated As Hedges) (Details) - Derivatives not designated as hedging instruments - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Other Noninterest Income/(Expense) $ 60 $ 49
Customer interest rate derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Other Noninterest Income/(Expense) 30 17
Other interest rate derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Other Noninterest Income/(Expense) 1 4
Foreign exchange derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Other Noninterest Income/(Expense) 29 29
Purchased credit derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Other Noninterest Income/(Expense) $ 0 $ (1)
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Gain (loss) recorded in income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Total income statement impact $ 0 $ (4) $ 16
Fair Value Hedging | Debt hedges: Receive-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivatives (7) 14  
Hedged items 7 (14)  
Total income statement impact 0 0  
Fair Value Hedging | Asset hedges: Pay-fixed interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivatives 108 (22)  
Hedged items (109) 22  
Total income statement impact $ (1) $ 0  
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Long-term debt hedged items) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets $ 41  
Total debt securities 10,601 $ 11,759
Derivative, Amount of Hedged Item 3,500  
Fair Value Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Total debt securities 10,200  
Fair Value Hedging | Debt hedges: Receive-fixed interest rate swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Par value of hedged liabilities (500) 0
Carrying amount of hedged liabilities (493) 0
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (7) 0
Fair Value Hedging | Asset hedges: Pay-fixed interest rate swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Par value of hedged assets 11,388 12,389
Carrying amount of hedged assets 11,099 12,209
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets $ (289) $ (180)
v3.25.0.1
LEASES (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
branch
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Leases [Abstract]      
Number of branches | branch 404    
Number of branches owned | branch 275    
Number of branches leased | branch 129    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets  
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Premises, equipment, and software, net Premises, equipment, and software, net  
Operating Lease, Liability, Statement of Financial Position [Extensible List] Other liabilities Other liabilities  
Finance Lease, Liability, Statement of Financial Position [Extensible List] Long-term debt Long-term debt  
Operating lease income | $ $ 13 $ 14 $ 14
Sales-type or direct financing leases | $ 377 383  
Sales-type or direct financing leases income | $ $ 18 $ 16 $ 12
v3.25.0.1
LEASES (Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Operating leases    
ROU assets, net of amortization $ 188 $ 172
Lease liabilities 240 198
Finance leases    
ROU assets, net of amortization 3 3
Lease liabilities $ 4 $ 4
Weighted average remaining lease term (years)    
Operating leases 9 years 10 months 24 days 8 years 8 months 12 days
Finance leases 15 years 7 months 6 days 16 years 6 months
Weighted average discount rate    
Operating leases 3.80% 3.40%
Finance leases 3.10% 3.10%
v3.25.0.1
LEASES (Components of Lease Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease expense $ 40 $ 43 $ 46
Other expenses associated with operating leases 62 60 51
Total lease expense 102 103 97
Related cash disbursements for operating leases $ 43 $ 49 $ 50
v3.25.0.1
LEASES (Maturities Analysis) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
2023 $ 40  
2024 36  
2025 27  
2026 28  
2027 25  
Thereafter 140  
Total lease payments 296  
Less imputed interest 56  
Lease liabilities $ 240 $ 198
v3.25.0.1
PREMISES, EQUIPMENT AND SOFTWARE (Narrative) (Details)
Dec. 31, 2024
Minimum | Building  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of properties (in years) 25 years
Minimum | Furniture and Equipment  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of properties (in years) 3 years
Minimum | Software  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of properties (in years) 3 years
Maximum | Building  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of properties (in years) 40 years
Maximum | Furniture and Equipment  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of properties (in years) 10 years
Maximum | Software  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of properties (in years) 10 years
v3.25.0.1
PREMISES, EQUIPMENT AND SOFTWARE (Schedule of Premises, Equipment and Software, Net) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]    
Land $ 284 $ 269
Buildings 980 959
Furniture and equipment 337 336
Leasehold improvements 139 137
Software 585 749
Total 2,325 2,450
Less accumulated depreciation and amortization 959 1,050
Net book value 1,366 1,400
Capitalized costs not yet depreciating $ 51 $ 40
v3.25.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill impairment loss $ 0 $ 0
v3.25.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule Of Goodwill) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]    
Goodwill $ 1,027 $ 1,027
Core deposits and other intangibles, net of accumulated amortization 25 32
Goodwill and intangibles 1,052 1,059
Amegy    
Goodwill [Line Items]    
Goodwill 615 615
CB&T    
Goodwill [Line Items]    
Goodwill 379 379
Zions Bank    
Goodwill [Line Items]    
Goodwill 20 20
Nevada State Bank    
Goodwill [Line Items]    
Goodwill $ 13 $ 13
v3.25.0.1
DEPOSITS (Categories) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other Liabilities Disclosure [Abstract]    
Noninterest-bearing demand $ 24,704 $ 26,244
Savings and money market 40,037 38,721
Time 11,482 9,996
Total deposits $ 76,223 $ 74,961
v3.25.0.1
DEPOSITS (Scheduled Maturities Of All Time Deposits) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deposits [Abstract]    
2025 $ 11,327  
2026 88  
2027 29  
2028 18  
2029 19  
Thereafter 1  
Total $ 11,482 $ 9,996
v3.25.0.1
DEPOSITS (Schedule of Contractual Maturities of Time Deposits With a Denomination of $100,000 and Over) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Deposits [Abstract]  
Three months or less $ 1,287
After three months through six months 1,160
After six months through twelve months 391
After twelve months 47
Total $ 2,885
v3.25.0.1
DEPOSITS (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deposits [Abstract]    
Deposit overdrafts reclassified as loan balances $ 8 $ 11
v3.25.0.1
SHORT-TERM BORROWINGS (Summary of Short-Term Borrowings) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Year-end balance $ 3,832 $ 4,379
Securities sold, not yet purchased 20 65
Total federal funds and other short-term borrowings 3,832 4,379
Federal Home Loan Bank advances    
Short-term Debt [Line Items]    
Average amount outstanding $ 1,665 $ 4,208
Average rate 4.89% 5.73%
Highest month-end balance $ 2,525 $ 11,525
Year-end balance $ 2,525 $ 1,525
Average rate on outstanding advances at year-end 4.78% 5.59%
Total federal funds and other short-term borrowings $ 2,525 $ 1,525
Federal funds purchased    
Short-term Debt [Line Items]    
Other short-term borrowings, year-end balances 108 597
Security repurchase agreements    
Short-term Debt [Line Items]    
Other short-term borrowings, year-end balances 764 1,814
Swap Margin Collateral    
Short-term Debt [Line Items]    
Other short-term borrowings, year-end balances $ 415 $ 378
v3.25.0.1
SHORT-TERM BORROWINGS (Narrative) (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Percentage of outstanding advance for unencumbered collateral 100.00%  
Federal Reserve Bank Advances    
Short-term Debt [Line Items]    
Amount available for FHLB advances $ 17.7 $ 9.8
Federal Funds Purchased and Securities Sold under Agreements to Repurchase    
Short-term Debt [Line Items]    
Maturity period 30 days  
Federal Home Loan Bank advances    
Short-term Debt [Line Items]    
Amount available for FHLB advances $ 12.0 $ 15.0
v3.25.0.1
LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract]    
Subordinated notes $ 946 $ 538
Finance lease obligations 4 4
Total $ 950 $ 542
v3.25.0.1
LONG-TERM DEBT (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 19, 2034
Dec. 31, 2024
Sep. 30, 2024
Debt Instrument [Line Items]      
Subordinated notes, par amount   $ 1,000  
Subordinated Notes, Interest Rate 3.25%      
Debt Instrument [Line Items]      
Subordinated notes, par amount   $ 500  
Subordinated Notes, Interest Rate 3.25% | Subordinated Debt      
Debt Instrument [Line Items]      
Debt interest rate   3.25%  
Subordinated Notes Interest Rate 6.82%      
Debt Instrument [Line Items]      
Subordinated notes, par amount   $ 500  
Subordinated notes, par amount, redeemed during period   $ 88  
Subordinated Notes Interest Rate 6.82% | Subordinated Debt      
Debt Instrument [Line Items]      
Debt interest rate   6.82% 6.95%
Subordinated Notes Interest Rate 6.82% | Subordinated Debt | Forecast      
Debt Instrument [Line Items]      
Annual floating rate basis spread on variable rate 2.83%    
v3.25.0.1
LONG-TERM DEBT (Schedule of Subordinated Notes) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Subordinated Borrowing [Line Items]      
Subordinated notes $ 946   $ 538
Subordinated notes, par amount 1,000    
Subordinated Notes, Interest Rate 3.25%      
Subordinated Borrowing [Line Items]      
Subordinated notes 458    
Subordinated notes, par amount $ 500    
Subordinated Notes, Interest Rate 3.25% | Subordinated Debt      
Subordinated Borrowing [Line Items]      
Coupon rate 3.25%    
Subordinated Notes Interest Rate 6.82%      
Subordinated Borrowing [Line Items]      
Subordinated notes $ 488    
Subordinated notes, par amount $ 500    
Subordinated Notes Interest Rate 6.82% | Subordinated Debt      
Subordinated Borrowing [Line Items]      
Coupon rate 6.82% 6.95%  
v3.25.0.1
LONG-TERM DEBT (Schedule of Maturities on Long-Term Debt and Finance Lease Obligations) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Subordinated Debt [Abstract]    
2025 $ 0  
2026 0  
2027 0  
2028 0  
2029 458  
Thereafter 488  
Total 946  
Finance Lease, Liability [Abstract]    
2025 0  
2026 0  
2027 0  
2028 0  
2029 0  
Thereafter 4  
Total 4  
2025 0  
2026 0  
2027 0  
2028 0  
2029 458  
Thereafter 492  
Total $ 950 $ 542
v3.25.0.1
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Feb. 25, 2025
Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]                  
Preferred stock, authorized shares (in shares) 4,400,000       4,400,000 4,400,000      
Preferred stock, liquidation preference per depositary share (in dollars per share) $ 25       $ 25        
Depositary share, preferred stock ownership interest         0.025%        
Preferred stock redemption $ (6) $ 0 $ 0 $ 0 $ (6) $ 0 $ 0    
Shares outstanding (in shares) 147,900,000       147,900,000        
Common stock, par value (in dollars per share) $ 0.001       $ 0.001 $ 0.001      
Common stock and additional paid-in capital $ 1,700       $ 1,700        
Common stock and additional paid-in capital increase $ 6       $ 6        
Common stock and additional paid-in capital decrease (as a percent) 1.00%       1.00%        
Common stock repurchased (in shares) 0 0 0 900,000   900,000      
Fair value of stock repurchased       $ 35   $ 50      
Average price per share of stock repurchased (in dollars per share)       $ 39.32   $ 52.82      
AOCI loss $ 6,124       $ 6,124 $ 5,691 4,893   $ 7,463
Other comprehensive income, net of tax         312 420 (3,032)    
Common stock held in trust 19       19 19      
Total invested assets of trusts 149       149 124      
Total obligations of trusts $ 168       $ 168 $ 143      
Subsequent Event                  
Schedule of Equity Method Investments [Line Items]                  
Share repurchase program, authorized, amount               $ 40  
Series A                  
Schedule of Equity Method Investments [Line Items]                  
Preferred stock, authorized shares (in shares) 140,000,000       140,000,000        
Liquidation preference of preferred stock (per share) $ 1,000       $ 1,000        
Preferred stock, outstanding (in shares) 66,139       66,139 66,139      
Accumulated other comprehensive income (loss)                  
Schedule of Equity Method Investments [Line Items]                  
AOCI loss $ (2,380)       $ (2,380) $ (2,692) (3,112)   $ (80)
Other comprehensive income, net of tax         $ 312 $ 420 $ (3,032)    
v3.25.0.1
SHAREHOLDERS' EQUITY (Preferred Stock) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Carrying value, Preferred stock $ 66 $ 440
Preferred stock, Authorized (in shares) 4,400,000 4,400,000
Series A    
Schedule of Equity Method Investments [Line Items]    
Carrying value, Preferred stock $ 66 $ 66
Preferred stock, Authorized (in shares) 140,000,000  
Preferred stock outstanding (in shares) 66,139 66,139
Preferred stock dividend rate 4.00%  
Preferred stock dividend rate basis spread on variable rate 0.78%  
Earliest redemption date Dec. 15, 2011  
Series G    
Schedule of Equity Method Investments [Line Items]    
Carrying value, Preferred stock $ 0 $ 139
Preferred stock, Authorized (in shares) 200,000,000  
Preferred stock outstanding (in shares) 0 138,390
Preferred stock dividend rate basis spread on variable rate 4.50%  
Series I    
Schedule of Equity Method Investments [Line Items]    
Carrying value, Preferred stock $ 0 $ 99
Preferred stock, Authorized (in shares) 300,893,000  
Preferred stock outstanding (in shares) 0 98,555
Preferred stock dividend rate basis spread on variable rate 4.06%  
Series J    
Schedule of Equity Method Investments [Line Items]    
Carrying value, Preferred stock $ 0 $ 136
Preferred stock, Authorized (in shares) 195,152,000  
Preferred stock outstanding (in shares) 0 136,368
Preferred stock dividend rate basis spread on variable rate 4.70%  
v3.25.0.1
SHAREHOLDERS' EQUITY (Summary Of Changes In Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 5,691 $ 4,893 $ 7,463
Other comprehensive income before reclassifications, net of tax 29 88  
Amounts reclassified from AOCI, net of tax 283 332  
Other comprehensive income (loss), net of tax 312 420 (3,032)
Ending balance 6,124 5,691 4,893
Income tax expense included in other comprehensive income 102 137  
Total      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (2,692) (3,112) (80)
Ending balance (2,380) (2,692) (3,112)
Net unrealized gains (losses) on investment securities      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (2,526) (2,800)  
Other comprehensive income before reclassifications, net of tax 31 66  
Amounts reclassified from AOCI, net of tax 194 208  
Other comprehensive income (loss), net of tax 225 274  
Ending balance (2,301) (2,526) (2,800)
Income tax expense included in other comprehensive income 74 90  
Net unrealized gains (losses) on derivatives and other      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (165) (311)  
Other comprehensive income before reclassifications, net of tax (2) 22  
Amounts reclassified from AOCI, net of tax 89 124  
Other comprehensive income (loss), net of tax 87 146  
Ending balance (78) (165) (311)
Income tax expense included in other comprehensive income 28 47  
Pension and post-retirement      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (1) (1)  
Other comprehensive income before reclassifications, net of tax 0 0  
Amounts reclassified from AOCI, net of tax 0 0  
Other comprehensive income (loss), net of tax 0 0  
Ending balance (1) (1) $ (1)
Income tax expense included in other comprehensive income $ 0 $ 0  
v3.25.0.1
SHAREHOLDERS' EQUITY (Amounts Reclassified from AOCI) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated other comprehensive income [Line Items]                      
Securities gains (losses), net                 $ 19 $ 4 $ (15)
Interest and fees on loans                 3,514 3,196 2,112
Less: Income tax benefit                 228 206 245
Net income $ 216 $ 214 $ 201 $ 153 $ 126 $ 175 $ 175 $ 204 784 680 907
Net unrealized losses on derivative instruments | Amounts reclassified from AOCI                      
Accumulated other comprehensive income [Line Items]                      
Interest and fees on loans                 (118) (165) (27)
Less: Income tax benefit                 (29) (41) (6)
Net income                 (89) (124) (21)
Net unrealized gains (losses) on investment securities | Amounts reclassified from AOCI                      
Accumulated other comprehensive income [Line Items]                      
Securities gains (losses), net                 (257) (276) (53)
Less: Income tax benefit                 (63) (68) (13)
Net income                 $ (194) $ (208) $ (40)
v3.25.0.1
REGULATORY MATTERS (Summary of Actual Capital Amounts and Ratios for the Company and Its Three Largest Subsidiary Banks) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]    
Common equity tier 1 capital (to risk-weighted assets), Actual Amount $ 7,363 $ 6,863
Common equity tier 1 capital (to risk-weighted assets), Capital Ratio 0.109 0.103
Common equity tier 1 capital (to risk-weighted assets), To be well capitalized, Amount $ 4,400 $ 4,351
Common equity tier 1 capital (to risk-weighted assets), To be well capitalized, Ratio 0.065 0.065
Tier 1 capital (to risk-weighted assets), Actual Amount $ 7,430 $ 7,303
Tier 1 risk-based capital (to risk-weighted assets), Capital Ratio 0.110 0.109
Tier 1 capital (to risk-weighted assets), To be well capitalized, Amount $ 5,415 $ 5,355
Tier 1 capital (to risk-weighted assets), To be well capitalized, Ratio 0.080 0.080
Total risk-based capital (to risk-weighted assets), Actual Amount $ 9,026 $ 8,553
Total risk-based capital (to risk-weighted assets), Capital Ratio 0.133 0.128
Total risk-based capital (to risk-weighted assets), To be well capitalized, Amount $ 6,769 $ 6,693
Total risk-based capital (to risk-weighted assets), To be well capitalized, Ratio 0.100 0.100
Tier 1 capital (to average assets), Actual Amount $ 7,430 $ 7,303
Tier 1 capital (to average assets), Actual Ratio 0.083 0.083
Tier 1 capital (to average assets), To be well capitalized, Amount $ 4,454 $ 4,379
Tier 1 capital (to average assets), To be well capitalized, Ratio 0.050 0.050
v3.25.0.1
REGULATORY MATTERS (Capital Ratios) (Details)
Dec. 31, 2024
Dec. 31, 2023
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]    
CETI to risk-weighted assets, Minimum capital requirement 0.045  
CETI to risk-weighted assets, Capital conservation buffer 0.025  
CETI to risk-weighted assets, Minimum capital ratio requirement with capital conservation buffer 0.070  
CETI to risk-weighted assets, Capital ratio 0.109 0.103
Tier 1 risk-based capital CETI plus additional Tier 1 capital) to risk-weighted assets, Minimum capital requirement 0.060  
Tier 1 risk-based capital CETI plus additional Tier 1 capital) to risk-weighted assets, Capital conservation buffer 0.025  
Tier 1 risk-based capital CETI plus additional Tier 1 capital) to risk-weighted assets, Minimum capital ratio requirement with capital conservation buffer 0.085  
Tier 1 risk-based capital CETI plus additional Tier 1 capital) to risk-weighted assets, Capital ratio 0.110 0.109
Total risk-based capital (Tier 1 capital plus Tier 2 capital) to risk-weighted assets, Minimum capital requirements 0.080  
Total risk-based capital (Tier 1 capital plus Tier 2 capital) to risk-weighted assets, Capital conversion buffer 0.025  
Total risk-based capital (Tier 1 capital plus Tier 2 capital) to risk-weighted assets, Minimum capital ratio requirement with capital conservation buffer 0.105  
Total risk-based capital (Tier 1 capital plus Tier 2 capital) to risk-weighted assets, Capital ratio 0.133 0.128
Tier 1 leverage ration (Tier 1 risk-based capital) to average consolidated assets, Minimum capital requirement 0.040  
Tier 1 leverage ration (Tier 1 risk-based capital), Minimum capital requirement with buffer 4.00%  
Tier 1 leverage ration (Tier 1 risk-based capital), Capital ratio 0.083 0.083
v3.25.0.1
COMMITMENTS, GUARANTEES, CONTINGENT LIABILITIES, AND RELATED PARTIES (Schedule of Off-Balance Sheet Financial Instruments) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Guarantor Obligations [Line Items]    
Net unfunded commitments to extend credit $ 28,767 $ 28,940
Commercial letters of credit 15 22
Mortgage-backed security purchase agreement 0 66
Total unfunded commitments 29,618 29,782
Financial    
Guarantor Obligations [Line Items]    
Standby letters of credit 574 548
Performance    
Guarantor Obligations [Line Items]    
Standby letters of credit $ 262 $ 206
v3.25.0.1
COMMITMENTS, GUARANTEES, CONTINGENT LIABILITIES, AND RELATED PARTIES (Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
case
Guarantor Obligations [Line Items]  
Commitments to extend credit expiring in one year $ 8,200,000,000
Standby letters of credit expiring in one year $ 836,000,000
Number of civil cases | case 2
Minimum  
Guarantor Obligations [Line Items]  
Limited recourse provision, period 3 months
Estimate of possible losses $ 0
Maximum  
Guarantor Obligations [Line Items]  
Limited recourse provision, period 1 year
Estimate of possible losses $ 10,000,000
v3.25.0.1
REVENUE RECOGNITION (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 $ 513 $ 503 $ 495
Customer-related noninterest income from other sources                 126 117 119
Total customer-related noninterest income                 639 620 614
Noncustomer-related noninterest income                 61 57 18
Noninterest income $ 193 $ 172 $ 179 $ 156 $ 148 $ 180 $ 189 $ 160 700 677 632
Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 182 174 159
Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 144 146 149
Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 67 66 73
Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 11 4 4
Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 54 53 51
Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 55 60 59
Other                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 33 34 38
Customer-related noninterest income from other sources                 19 14 4
Total customer-related noninterest income                 52 48 42
Noncustomer-related noninterest income                 33 17 6
Noninterest income                 85 65 48
Other | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 2 0 2
Other | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 1 0 0
Other | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 0 0
Other | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 6 4 4
Other | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 (1) 1
Other | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 24 31 31
Zions Bank | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 157 157 160
Customer-related noninterest income from other sources                 24 24 19
Total customer-related noninterest income                 181 181 179
Noncustomer-related noninterest income                 6 11 5
Noninterest income                 187 192 184
Zions Bank | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 57 55 53
Zions Bank | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 50 52 55
Zions Bank | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 19 19 22
Zions Bank | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 1 0 0
Zions Bank | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 21 23 22
Zions Bank | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 9 8 8
CB&T | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 74 75 70
Customer-related noninterest income from other sources                 39 35 34
Total customer-related noninterest income                 113 110 104
Noncustomer-related noninterest income                 8 6 4
Noninterest income                 121 116 108
CB&T | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 31 32 28
CB&T | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 19 21 20
CB&T | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 11 11 12
CB&T | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 1 0 0
CB&T | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 4 4 4
CB&T | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 8 7 6
Amegy | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 131 125 117
Customer-related noninterest income from other sources                 34 37 40
Total customer-related noninterest income                 165 162 157
Noncustomer-related noninterest income                 10 22 1
Noninterest income                 175 184 158
Amegy | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 59 56 46
Amegy | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 31 31 33
Amegy | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 14 14 16
Amegy | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 3 0 0
Amegy | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 18 17 15
Amegy | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 6 7 7
NBAZ | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 39 37 38
Customer-related noninterest income from other sources                 4 2 8
Total customer-related noninterest income                 43 39 46
Noncustomer-related noninterest income                 0 1 2
Noninterest income                 43 40 48
NBAZ | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 11 10 9
NBAZ | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 15 15 15
NBAZ | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 9 8 9
NBAZ | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 0 0
NBAZ | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 3 3 3
NBAZ | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 1 1 2
NSB | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 46 44 42
Customer-related noninterest income from other sources                 2 1 6
Total customer-related noninterest income                 48 45 48
Noncustomer-related noninterest income                 4 0 0
Noninterest income                 52 45 48
NSB | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 13 12 11
NSB | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 16 16 15
NSB | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 10 10 10
NSB | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 0 0
NSB | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 6 5 5
NSB | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 1 1 1
Vectra | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 27 25 25
Customer-related noninterest income from other sources                 2 3 6
Total customer-related noninterest income                 29 28 31
Noncustomer-related noninterest income                 0 0 0
Noninterest income                 29 28 31
Vectra | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 7 7 8
Vectra | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 10 9 9
Vectra | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 3 4 4
Vectra | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 0 0
Vectra | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 2 1 1
Vectra | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 5 4 3
TCBW | Operating Segments                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 6 6 5
Customer-related noninterest income from other sources                 2 1 2
Total customer-related noninterest income                 8 7 7
Noncustomer-related noninterest income                 0 0 0
Noninterest income                 8 7 7
TCBW | Operating Segments | Commercial account fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 2 2 2
TCBW | Operating Segments | Card fees 1                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 2 2 2
TCBW | Operating Segments | Retail and business banking fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 1 0 0
TCBW | Operating Segments | Capital markets fees 2                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 0 0
TCBW | Operating Segments | Wealth management fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 0 1 0
TCBW | Operating Segments | Other customer-related fees                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Total noninterest income from contracts with customers                 $ 1 $ 1 $ 1
v3.25.0.1
RETIREMENT PLANS (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan, maximum annual contributions per employee, percent 80.00%    
Defined contribution plan, employer discretionary contribution amount $ 35 $ 35 $ 33
Defined contribution plan, cost $ 14 16 $ 19
Minimum      
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan, employer discretionary noncontributory amount, percent 0.00%    
Maximum      
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan, employer discretionary noncontributory amount, percent 3.50%    
Defined Contribution Plan, Matching Tranche One      
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan, employer matching contribution, percent of match 100.00%    
Defined contribution plan, employer matching contribution, percent of employees' contributions 3.00%    
Defined Contribution Plan, Matching Tranche Two      
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan, employer matching contribution, percent of match 50.00%    
Defined contribution plan, employer matching contribution, percent of employees' contributions 3.00%    
Supplemental Employee Retirement Plan      
Defined Benefit Plan Disclosure [Line Items]      
Benefit liability $ 9 9  
Postretirement Benefits Plan      
Defined Benefit Plan Disclosure [Line Items]      
Benefit liability $ 1 $ 1  
v3.25.0.1
SHARE-BASED COMPENSATION (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total shares authorized under stock option and incentive plan (in shares) 4,300,000    
Number of shares available for future grants of stock options or restricted stock (in shares) 1,965,994    
Compensation expense not yet recognized for nonvested share-based awards $ 35,000    
Nonvested share-based awards, expected weighted average period to be recognized (in years) 2 years 4 months 24 days    
Grants in period (in shares) 0    
Total intrinsic value of stock options exercised $ 2,000 $ 2,000 $ 7,000
Cash received from the exercise of stock options 9,000 2,000 8,000
Aggregate intrinsic value of outstanding stock options (prior year less than) 4,000 1,000  
Aggregate intrinsic value of exercisable options (prior year less than) $ 4,000 $ 1,000  
Outstanding stock options, weighted average remaining contractual life, excluding options without fixed expiration date (in years) 2 years 7 months 6 days 2 years 8 months 12 days  
Stock options expected to vest (in shares) 253,940    
Stock options expected to vest, weighted average exercise price (in dollars per share) $ 58.08    
Stock options expected to vest, weighted average remaining life (in years) 4 years 8 months 12 days    
Stock options expected to vest, aggregate intrinsic value $ 255    
Total fair value at grant date of restricted stock and RSUs vested $ 28,000 $ 27,000 $ 25,000
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expiration period 7 years    
Restricted Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock vesting period 4 years    
Ratio of common stock to share based payment award (shares) 1    
Granted (in shares) 872,274 727,019 433,674
Expected to vest (in shares) 1,108,442    
Expected to vest, aggregate intrinsic value $ 60,000    
Restricted Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock vesting period 4 years    
Expected to vest (in shares) 66,059    
Expected to vest, aggregate intrinsic value $ 4,000    
Director | Restricted Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Granted (in shares) 25,866 39,771 16,722
v3.25.0.1
SHARE-BASED COMPENSATION (Compensation Expense And Related Tax Benefit For All Share-Based Awards) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Compensation expense $ 31 $ 33 $ 30
Reduction of income tax expense $ 7 $ 9 $ 11
v3.25.0.1
SHARE-BASED COMPENSATION (Weighted Average Of Fair Value And Significant Assumptions Used In Applying Black-Scholes Model For Options Granted) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Weighted average value for options granted (in dollars per share) $ 0 $ 11.23 $ 15.16
Expected dividend yield 0.00% 3.00% 2.30%
Expected volatility 0.00% 27.00% 27.00%
Risk-free interest rate 0.00% 4.00% 1.98%
Expected life (in years) 0 years 4 years 6 months 5 years
v3.25.0.1
SHARE-BASED COMPENSATION (Summary of Stock Option Activity) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of shares      
Beginning balance (in shares) 1,420,378 1,262,366 1,328,144
Granted (in shares) 0 291,005 201,932
Exercised (in shares) (191,602) (95,207) (256,004)
Expired (in shares) (103,008) (27,948) (8,912)
Forfeited (in shares) (2,112) (9,838) (2,794)
Ending balance (in shares) 1,123,656 1,420,378 1,262,366
Weighted average exercise price      
Beginning balance (in dollars per share) $ 52.83 $ 50.75 $ 44.60
Granted (in dollars per share) 0 52.90 73.02
Exercised (in dollars per share) 50.05 29.67 36.79
Expired (in dollars per share) 46.84 35.41 37.58
Forfeited (in dollars per share) 56.94 57.07 57.75
Ending balance (in dollars per share) $ 53.85 $ 52.83 $ 50.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]      
Number of shares, Outstanding stock options exercisable (in shares) 869,716 891,884 729,411
Weighted average exercise price, Outstanding stock options exercisable (in dollars per share) $ 52.61 $ 50.36 $ 46.02
v3.25.0.1
SHARE-BASED COMPENSATION (Schedule of Additional Selected Information on Stock Options) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Outstanding stock options, Number of shares (in shares) 1,123,656 1,420,378 1,262,366 1,328,144
Outstanding stock options, Weighted average exercise price (in dollars per share) $ 53.85 $ 52.83 $ 50.75 $ 44.60
Outstanding stock options, weighted average remaining contractual life (in years) 3 years 1 month 6 days      
Exercisable stock options, Number of shares (in shares) 869,716 891,884 729,411  
Exercisable stock options, Weighted average exercise price (in dollars per share) $ 52.61 $ 50.36 $ 46.02  
Stock options without a fixed expiration date (in shares) 5,223      
$4.15 to $19.99        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Exercise price range, lower range limit (in dollars per share) $ 4.15      
Exercise price range, upper range limit (in dollars per share) $ 19.99      
Outstanding stock options, Number of shares (in shares) 5,223      
Outstanding stock options, Weighted average exercise price (in dollars per share) $ 6.41      
Outstanding stock options, weighted average remaining contractual life (in years) 0 years      
Exercisable stock options, Number of shares (in shares) 5,223      
Exercisable stock options, Weighted average exercise price (in dollars per share) $ 6.41      
$40.00 to $44.99        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Exercise price range, lower range limit (in dollars per share) 40.00      
Exercise price range, upper range limit (in dollars per share) $ 44.99      
Outstanding stock options, Number of shares (in shares) 1,974      
Outstanding stock options, Weighted average exercise price (in dollars per share) $ 43.07      
Outstanding stock options, weighted average remaining contractual life (in years) 1 year 4 months 24 days      
Exercisable stock options, Number of shares (in shares) 1,974      
Exercisable stock options, Weighted average exercise price (in dollars per share) $ 43.07      
$45.00 to $49.99        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Exercise price range, lower range limit (in dollars per share) 45      
Exercise price range, upper range limit (in dollars per share) $ 49.99      
Outstanding stock options, Number of shares (in shares) 440,807      
Outstanding stock options, Weighted average exercise price (in dollars per share) $ 47.33      
Outstanding stock options, weighted average remaining contractual life (in years) 2 years 7 months 6 days      
Exercisable stock options, Number of shares (in shares) 440,807      
Exercisable stock options, Weighted average exercise price (in dollars per share) $ 47.33      
$50.00 to $59.99        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Exercise price range, lower range limit (in dollars per share) 50.00      
Exercise price range, upper range limit (in dollars per share) $ 59.99      
Outstanding stock options, Number of shares (in shares) 481,220      
Outstanding stock options, Weighted average exercise price (in dollars per share) $ 52.56      
Outstanding stock options, weighted average remaining contractual life (in years) 3 years 2 months 12 days      
Exercisable stock options, Number of shares (in shares) 292,172      
Exercisable stock options, Weighted average exercise price (in dollars per share) $ 52.34      
$60.00 to $73.22        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Exercise price range, lower range limit (in dollars per share) 60.00      
Exercise price range, upper range limit (in dollars per share) $ 73.22      
Outstanding stock options, Number of shares (in shares) 194,432      
Outstanding stock options, Weighted average exercise price (in dollars per share) $ 73.19      
Outstanding stock options, weighted average remaining contractual life (in years) 4 years      
Exercisable stock options, Number of shares (in shares) 129,540      
Exercisable stock options, Weighted average exercise price (in dollars per share) $ 73.19      
v3.25.0.1
SHARE-BASED COMPENSATION (Summary of Restricted Stock Activity) (Details) - Restricted Stock - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of shares      
Beginning balance (in shares) 35,771 60,749 64,816
Issued (in shares) 49,019 0 21,038
Vested (in shares) (18,731) (24,978) (25,105)
Ending balance (in shares) 66,059 35,771 60,749
Weighted average fair value      
Beginning balance (in dollars per share) $ 49.71 $ 48.31 $ 42.26
Issued (in dollars per share) 41.24 0 60.21
Vested (in dollars per share) 47.48 46.31 42.66
Ending balance (in dollars per share) $ 44.06 $ 49.71 $ 48.31
v3.25.0.1
SHARE-BASED COMPENSATION (Summary of Restricted Stock Unit Activity) (Details) - Restricted Stock Units - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of shares      
Beginning balance (in shares) 1,329,945 1,169,093 1,274,083
Granted (in shares) 872,274 727,019 433,674
Vested (in shares) (544,095) (522,163) (504,358)
Forfeited (in shares) (34,621) (44,004) (34,306)
Ending balance (in shares) 1,623,503 1,329,945 1,169,093
Weighted average fair value      
Beginning balance (in dollars per share) $ 52.88 $ 53.62 $ 46.49
Issued (in dollars per share) 39.53 48.85 68.07
Vested (in dollars per share) 50.55 48.71 47.83
Forfeited (in dollars per share) 48.78 56.19 56.58
Ending balance (in dollars per share) $ 46.57 $ 52.88 $ 53.62
v3.25.0.1
INCOME TAXES (Schedule of Income Tax Expense (Benefit)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Federal:      
Current $ 194 $ 168 $ 236
Deferred (9) 0 (38)
Total federal 185 168 198
State:      
Current 41 47 52
Deferred 2 (9) (5)
Total state 43 38 47
Total income tax expense $ 228 $ 206 $ 245
v3.25.0.1
INCOME TAXES (Schedule of Statutory Federal Income Tax Rate Reconciles to Actual Income Tax Expense (Benefit)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Income tax expense at statutory federal rate $ 213 $ 186 $ 242
State income taxes including credits, net 34 31 38
Other nondeductible expenses 32 29 13
Nontaxable income (46) (41) (40)
Share-based compensation 1 (1) (4)
Other (6) 2 (4)
Total income tax expense $ 228 $ 206 $ 245
v3.25.0.1
INCOME TAXES (Schedule of Tax Effects of Deferred Tax Assets and Deferred Tax Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Gross deferred tax assets:    
Book loan loss deduction in excess of tax $ 183 $ 181
Deferred compensation 81 81
Investment securities and derivative fair value adjustments 775 879
Lease liabilities 60 50
Capitalized costs 30 37
Other 47 48
Total deferred tax assets before valuation allowance 1,176 1,276
Valuation allowance 0 0
Total deferred tax assets 1,176 1,276
Gross deferred tax liabilities:    
Premises and equipment, due to differences in depreciation (90) (101)
Federal Home Loan Bank stock dividends (3) (3)
Leasing operations (43) (49)
Prepaid expenses (8) (5)
Mortgage servicing (6) (5)
Deferred loan costs (36) (34)
ROU assets (47) (43)
Qualified opportunity fund deferred gains (26) (27)
Equity investments (13) (10)
Total deferred tax liabilities (272) (277)
Net deferred tax assets (liabilities) $ 904 $ 999
v3.25.0.1
INCOME TAXES (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Income Tax Contingency [Line Items]    
Unrecognized tax benefits that would impact effective tax rate $ 7 $ 13
Unrecognized tax benefit on technology initiatives 3  
Income tax penalties and interest accrued 1 $ 2
Maximum    
Income Tax Contingency [Line Items]    
Tax effect of remaining net operating loss and tax credit carryforward $ 1  
v3.25.0.1
INCOME TAXES (Schedule of Reconciliation of Gross Unrecognized Tax Benefits) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of year $ 15 $ 13 $ 14
Tax positions related to current year, Additions 0 2 2
Tax positions related to prior years, Additions 0 10 0
Tax positions related to prior years, Reductions 0 0 (1)
Settlements with taxing authorities 0 (3) 0
Lapses in statutes of limitations (8) (7) (2)
Balance at end of year $ 7 $ 15 $ 13
v3.25.0.1
NET EARNINGS PER COMMON SHARE (Basic And Diluted Net Earnings Per Common Share Based On The Weighted Average Outstanding Shares) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Basic:                      
Net income $ 216 $ 214 $ 201 $ 153 $ 126 $ 175 $ 175 $ 204 $ 784 $ 680 $ 907
Less common and preferred dividends                 289 277 269
Less impact from redemption of preferred stock                 6 0 0
Undistributed earnings                 489 403 638
Less undistributed earnings applicable to nonvested shares                 5 4 5
Undistributed earnings applicable to common shares                 484 399 633
Distributed earnings applicable to common shares                 245 243 237
Total earnings applicable to common shares                 $ 729 $ 642 $ 870
Weighted average common shares outstanding (in shares)                 147,210 147,748 150,064
Net earnings per common share (in dollars per share) $ 1.34 $ 1.37 $ 1.28 $ 0.96 $ 0.78 $ 1.13 $ 1.11 $ 1.33 $ 4.95 $ 4.35 $ 5.80
Diluted:                      
Dilutive effect of stock options (in shares)                 5 8 207
Weighted average diluted common shares outstanding (in shares)                 147,215 147,756 150,271
Net earnings per common share (in dollars per share) $ 1.34 $ 1.37 $ 1.28 $ 0.96 $ 0.78 $ 1.13 $ 1.11 $ 1.33 $ 4.95 $ 4.35 $ 5.79
v3.25.0.1
NET EARNINGS PER COMMON SHARE (Stock Awards That Were Anti-Dilutive) (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restricted stock and restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (in shares) 1,663 1,383 1,265
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (in shares) 1,110 1,409 178
v3.25.0.1
OPERATING SEGMENT INFORMATION (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
branch
segment
Sep. 23, 2024
USD ($)
branch
Segment Reporting Information [Line Items]    
Number of bank operating segments | segment 7  
Number of branches 404  
CB&T    
Segment Reporting Information [Line Items]    
Number of branches to be acquired   4
Deposits acquired | $   $ 700
Loans acquired | $   $ 400
Utah | Zions Bank    
Segment Reporting Information [Line Items]    
Number of branches 92  
Idaho | Zions Bank    
Segment Reporting Information [Line Items]    
Number of branches 25  
Wyoming | Zions Bank    
Segment Reporting Information [Line Items]    
Number of branches 1  
California | CB&T    
Segment Reporting Information [Line Items]    
Number of branches 75  
Texas | Amegy    
Segment Reporting Information [Line Items]    
Number of branches 75  
Arizona | NBAZ    
Segment Reporting Information [Line Items]    
Number of branches 56  
Nevada | NSB    
Segment Reporting Information [Line Items]    
Number of branches 43  
Colorado | Vectra    
Segment Reporting Information [Line Items]    
Number of branches 33  
New Mexico | Vectra    
Segment Reporting Information [Line Items]    
Number of branches 1  
Washington | TCBW    
Segment Reporting Information [Line Items]    
Number of branches 2  
Oregon | TCBW    
Segment Reporting Information [Line Items]    
Number of branches 1  
v3.25.0.1
OPERATING SEGMENT INFORMATION (Schedule Of Segment Information) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]                      
Net interest income $ 627 $ 620 $ 597 $ 586 $ 583 $ 585 $ 591 $ 679 $ 2,430 $ 2,438 $ 2,520
Provision for credit losses 41 13 5 13 0 41 46 45 72 132 122
Net interest income after provision for credit losses                 2,358 2,306 2,398
Noninterest income                 700 677 632
Salaries and employee benefits                 1,287 1,275 1,235
Technology, telecom, and information processing                 260 240 209
Occupancy and equipment, net                 161 160 152
Other direct expenses                 338 422 282
Indirect/allocated expenses                 0 0 0
Total noninterest expense 509 502 509 526 581 496 508 512 2,046 2,097 1,878
Income (loss) before income taxes $ 270 $ 277 $ 262 $ 203 $ 150 $ 228 $ 226 $ 282 1,012 886 1,152
Total average loans                 58,547 56,740 52,598
Total average deposits                 74,760 72,866 78,529
Other                      
Segment Reporting Information [Line Items]                      
Net interest income                 5 28 54
Provision for credit losses                 (2) (2) 0
Net interest income after provision for credit losses                 7 30 54
Noninterest income                 85 65 33
Salaries and employee benefits                 755 746 726
Technology, telecom, and information processing                 219 197 168
Occupancy and equipment, net                 32 35 35
Other direct expenses                 103 117 102
Indirect/allocated expenses                 (1,036) (988) (808)
Total noninterest expense                 73 107 223
Income (loss) before income taxes                 19 (12) (136)
Total average loans                 958 1,046 927
Total average deposits                 5,484 6,161 1,167
Zions Bank | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 692 698 726
Provision for credit losses                 (8) 20 43
Net interest income after provision for credit losses                 700 678 683
Noninterest income                 187 192 186
Salaries and employee benefits                 141 142 137
Technology, telecom, and information processing                 14 16 14
Occupancy and equipment, net                 27 27 24
Other direct expenses                 71 96 60
Indirect/allocated expenses                 318 301 263
Total noninterest expense                 571 582 498
Income (loss) before income taxes                 316 288 371
Total average loans                 14,799 14,296 13,272
Total average deposits                 21,151 20,233 24,316
CB&T | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 584 602 592
Provision for credit losses                 42 44 49
Net interest income after provision for credit losses                 542 558 543
Noninterest income                 121 116 114
Salaries and employee benefits                 126 126 121
Technology, telecom, and information processing                 5 5 4
Occupancy and equipment, net                 33 34 33
Other direct expenses                 42 58 33
Indirect/allocated expenses                 197 188 149
Total noninterest expense                 403 411 340
Income (loss) before income taxes                 260 263 317
Total average loans                 14,286 14,128 13,129
Total average deposits                 14,582 14,253 16,160
Amegy | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 496 457 505
Provision for credit losses                 22 15 5
Net interest income after provision for credit losses                 474 442 500
Noninterest income                 175 184 165
Salaries and employee benefits                 112 107 105
Technology, telecom, and information processing                 8 8 8
Occupancy and equipment, net                 33 28 28
Other direct expenses                 56 70 40
Indirect/allocated expenses                 247 240 174
Total noninterest expense                 456 453 355
Income (loss) before income taxes                 193 173 310
Total average loans                 13,398 12,851 12,110
Total average deposits                 14,792 13,569 15,735
NBAZ | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 245 249 242
Provision for credit losses                 17 4 11
Net interest income after provision for credit losses                 228 245 231
Noninterest income                 43 40 48
Salaries and employee benefits                 54 55 51
Technology, telecom, and information processing                 4 4 4
Occupancy and equipment, net                 11 10 10
Other direct expenses                 26 29 17
Indirect/allocated expenses                 101 96 85
Total noninterest expense                 196 194 167
Income (loss) before income taxes                 75 91 112
Total average loans                 5,683 5,318 4,911
Total average deposits                 6,933 7,008 8,035
NSB | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 197 192 185
Provision for credit losses                 (11) 42 4
Net interest income after provision for credit losses                 208 150 181
Noninterest income                 52 45 48
Salaries and employee benefits                 46 45 44
Technology, telecom, and information processing                 6 5 6
Occupancy and equipment, net                 11 12 11
Other direct expenses                 21 27 16
Indirect/allocated expenses                 93 85 74
Total noninterest expense                 177 174 151
Income (loss) before income taxes                 83 21 78
Total average loans                 3,555 3,392 2,987
Total average deposits                 7,169 6,964 7,436
Vectra | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 148 151 153
Provision for credit losses                 3 7 9
Net interest income after provision for credit losses                 145 144 144
Noninterest income                 29 28 31
Salaries and employee benefits                 41 41 39
Technology, telecom, and information processing                 2 3 3
Occupancy and equipment, net                 11 12 8
Other direct expenses                 14 18 10
Indirect/allocated expenses                 69 67 60
Total noninterest expense                 137 141 120
Income (loss) before income taxes                 37 31 55
Total average loans                 4,063 4,004 3,632
Total average deposits                 3,505 3,482 4,109
TCBW | Operating Segments                      
Segment Reporting Information [Line Items]                      
Net interest income                 63 61 63
Provision for credit losses                 9 2 1
Net interest income after provision for credit losses                 54 59 62
Noninterest income                 8 7 7
Salaries and employee benefits                 12 13 12
Technology, telecom, and information processing                 2 2 2
Occupancy and equipment, net                 3 2 3
Other direct expenses                 5 7 4
Indirect/allocated expenses                 11 11 3
Total noninterest expense                 33 35 24
Income (loss) before income taxes                 29 31 45
Total average loans                 1,805 1,705 1,630
Total average deposits                 $ 1,144 $ 1,196 $ 1,571
v3.25.0.1
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Financial Information by Quarter) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]                      
Total interest income $ 1,062 $ 1,104 $ 1,073 $ 1,054 $ 1,040 $ 1,010 $ 977 $ 920 $ 4,293 $ 3,947 $ 2,705
Net interest income 627 620 597 586 583 585 591 679 2,430 2,438 2,520
Provision for credit losses 41 13 5 13 0 41 46 45 72 132 122
Noninterest income 193 172 179 156 148 180 189 160 700 677 632
Noninterest expense 509 502 509 526 581 496 508 512 2,046 2,097 1,878
Income (loss) before income taxes 270 277 262 203 150 228 226 282 1,012 886 1,152
Net income 216 214 201 153 126 175 175 204 784 680 907
Preferred stock dividends (10) (10) (11) (10) (10) (7) (9) (6) (41) (32) (29)
Preferred stock redemption (6) 0 0 0         (6) 0 0
Net earnings applicable to common shareholders $ 200 $ 204 $ 190 $ 143 $ 116 $ 168 $ 166 $ 198 $ 737 $ 648 $ 878
Net earnings per common share:                      
Basic (in dollars per share) $ 1.34 $ 1.37 $ 1.28 $ 0.96 $ 0.78 $ 1.13 $ 1.11 $ 1.33 $ 4.95 $ 4.35 $ 5.80
Diluted (in dollars per share) $ 1.34 $ 1.37 $ 1.28 $ 0.96 $ 0.78 $ 1.13 $ 1.11 $ 1.33 $ 4.95 $ 4.35 $ 5.79