FLAGSTAR BANK, NATIONAL ASSOCIATION, 10-K filed on 2/27/2026
Annual Report
v3.25.4
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Jan. 31, 2026
Jun. 30, 2025
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-31    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-31565    
Entity Registrant Name FLAGSTAR BANK, NATIONAL ASSOCIATION    
Entity Incorporation, State or Country Code X1    
Entity Tax Identification Number 38-2734984    
Entity Address, Address Line One 102 Duffy Avenue,    
Entity Address, City or Town Hicksville,    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 11801    
City Area Code 516    
Local Phone Number 683-4100    
Entity Well-known Seasoned Issuer No    
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    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 3.2
Entity Common Stock, Shares Outstanding   415,993,081  
Documents Incorporated by Reference Portions of the definitive Proxy Statement for the Annual Meeting of Shareholders to be held on June 9, 2026 are incorporated by reference into Part III.    
Entity Central Index Key 0000910073    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Common Stock (Par Value: $0.01)      
Document Information [Line Items]      
Title of 12(b) Security Common Stock, $0.01 par value per share    
Trading Symbol FLG    
Security Exchange Name NYSE    
Bifurcated Option Notes Unit Securities      
Document Information [Line Items]      
Title of 12(b) Security Bifurcated Option Note Unit SecuritiESSM    
Trading Symbol FLG PRU    
Security Exchange Name NYSE    
Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock      
Document Information [Line Items]      
Title of 12(b) Security Depositary Shares each representing a 1/40th interest in a share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock    
Trading Symbol FLG PRA    
Security Exchange Name NYSE    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Firm ID 185
Auditor Name KPMG LLP
Auditor Location New York, New York
v3.25.4
Consolidated Statements of Condition - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
ASSETS:    
Cash and due from banks $ 553 $ 434
Interest-earning deposits and other securities with financial institutions 5,341 14,996
Debt securities available-for-sale 15,701 10,402
Equity investments with readily determinable fair values, at fair value 65 14
Loans held for sale 265 899
Loans and leases held for investment, net of deferred loan fees and costs 60,732 68,272
Less: Allowance for credit losses on loans and leases (1,030) (1,201)
Total loans and leases held for investment, net 59,702 67,071
Premises and equipment, net 477 562
Core deposit and other intangibles 381 488
Other assets 5,027 5,294
Total assets 87,512 100,160
Deposits:    
Interest-bearing checking and money market accounts 18,233 20,780
Savings accounts 14,864 14,282
Certificates of deposit 20,843 27,324
Non-interest-bearing accounts 12,060 13,484
Total deposits 66,000 75,870
Borrowed Funds 12,184 14,426
Other liabilities 1,184 1,696
Total liabilities 79,368 91,992
Commitment and contingencies (refer to Note 20)
Mezzanine equity:    
Preferred stock - Series B 1 1
Stockholders' equity:    
Preferred stock - Series A and D 503 503
Common stock at par 0.01 (916,666,666 and 666,666,666 shares authorized; 422,931,277 and 422,416,178 shares issued; and 415,982,036 and 414,934,628 shares outstanding, respectively) 4 4
Paid-in capital in excess of par 9,303 9,282
Accumulated deficit (988) (763)
Treasury stock, at cost (6,949,241 and 7,481,550 shares, respectively) (190) (219)
Accumulated other comprehensive loss, net of tax: (489) (640)
Total stockholders’ equity 8,143 8,167
Total liabilities, mezzanine and stockholders’ equity $ 87,512 $ 100,160
v3.25.4
Consolidated Statements of Condition (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 916,666,666 666,666,666
Common stock, shares issued (in shares) 422,931,277 422,416,178
Common stock, shares outstanding (in shares) 415,982,036 414,934,628
Treasury stock (in shares) 6,949,241 7,481,550
v3.25.4
Consolidated Statements of Comprehensive (Loss) Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
INTEREST INCOME:      
Loans and leases $ 3,310 $ 4,369 $ 4,509
Securities and money market investments 1,156 1,584 982
Total interest income 4,466 5,953 5,491
INTEREST EXPENSE:      
Interest-bearing checking and money market accounts 612 869 943
Savings accounts 442 345 169
Certificates of deposit 1,078 1,362 646
Borrowed funds 613 1,225 656
Total interest expense 2,745 3,801 2,414
Net interest income 1,721 2,152 3,077
Provision for credit losses 184 1,092 833
Net interest income after provision for credit loan losses 1,537 1,060 2,244
NON-INTEREST INCOME:      
Fee income 89 150 172
Bank-owned life insurance 49 42 43
Net gain on investment securities 31 0 0
Net return on mortgage servicing rights 0 73 103
Net gain on loan sales and securitizations 32 48 89
Net gain on mortgage/servicing sale 0 89 0
Net loan administration income 6 2 82
Bargain purchase gain 0 (121) 2,131
Other 134 117 67
Total non-interest income 341 400 2,687
NON-INTEREST EXPENSE:      
Compensation and benefits 976 1,263 1,149
Occupancy and equipment 202 211 200
Software expense 173 186 180
FDIC insurance 169 313 126
Professional services 86 110 55
General and administrative 307 513 389
Total operating expense 1,913 2,596 2,099
Intangible asset amortization 107 136 126
Merger-related and restructuring expenses 56 106 330
Goodwill impairment 0 0 2,426
Total non-interest expense 2,076 2,838 4,981
(Loss) income before income taxes (198) (1,378) (50)
Income tax (benefit)/expense (21) (260) 29
Net (loss) income (177) (1,118) (79)
Preferred stock dividends 33 35 33
Net (loss) attributable / net income available to common stockholders $ (210) $ (1,153) $ (112)
Basic (loss) earnings per common share (in usd per share) $ (0.50) $ (3.49) $ (0.49)
Diluted (loss) earnings per common share (in usd per share) $ (0.50) $ (3.49) $ (0.49)
v3.25.4
Consolidated Statements of (Loss) Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net (loss) income $ (177) $ (1,118) $ (79)
Other comprehensive gain (loss), net of tax:      
Net unrealized gain (loss) on securities available for sale 186 (72) 45
Net unrealized gain (loss) in pension and post-retirement obligations 12 (6) 18
Net unrealized gain (loss) on cash flow hedges (47) 37 (42)
Total other comprehensive gain (loss), net of tax 151 (41) 21
Total comprehensive (loss) income, net of tax $ (26) $ (1,159) $ (58)
v3.25.4
Consolidated Statements of (Loss) Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net unrealized gain (loss) on securities available-for-sale $ 66 $ (24) $ 15
Net unrealized gain (loss) in pension and post-retirement obligations 5 (2) 6
Net unrealized gain (loss) on cash flow hedges $ (17) $ 12 $ (14)
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Millions
Total
Fixed Rate Perpetual Noncumulative Convertible Series B
13.00% Fixed Rate Perpetual Noncumulative Convertible Series C
Series B Preferred Stock
Series C Preferred Stock
Preferred Stock (Par Value: $0.01)
Common Stock (Par Value: $0.01)
Common Stock (Par Value: $0.01)
Series B Preferred Stock
Common Stock (Par Value: $0.01)
Series C Preferred Stock
Paid-in Capital in excess of Par
Paid-in Capital in excess of Par
Series B Preferred Stock
Paid-in Capital in excess of Par
Series C Preferred Stock
(Accumulated deficit)/Retained Earnings
Treasury Stock, at Cost
Accumulated Other Comprehensive Loss, Net of Tax
Beginning balance (in shares) at Dec. 31, 2022 227,072,445                            
Beginning balance at Dec. 31, 2022 $ 8,824         $ 503 $ 2     $ 8,135     $ 1,041 $ (237) $ (620)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Issuance and exercise of stock (in shares) 13,010,668                            
Issuance and exercise of stock $ 85           0     85          
Shares issued for restricted stock, net of forfeitures (in shares) 1,024,855                            
Shares issued for restricted stock, net of forfeitures $ 0                 (31)       31  
Compensation expense related to restricted stock awards 47                 47          
Net loss (79)                       (79)    
Dividends paid on common stock (486)                       (486)    
Dividends paid on preferred stock $ (33)                       (33)    
Purchase of common stock (in shares) (419,178)                            
Purchase of common stock $ (12)                         (12)  
Other comprehensive (loss) income, net of tax $ 21                           21
Ending balance (in shares) at Dec. 31, 2023 240,688,790                            
Ending balance at Dec. 31, 2023 $ 8,367         503 2     8,236     443 (218) (599)
Beginning balance at Dec. 31, 2022 0                            
Ending balance at Dec. 31, 2023 $ 0                            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Issuance of mezzanine preferred stock Series , net (in shares)   0 0                        
Issuance and exercise of stock (in shares) 25,543,655     63,770,655 85,435,619                    
Issuance and exercise of stock $ 102     $ 258 $ 342     $ 1 $ 1 102 $ 257 $ 341      
Issuance of warrants to purchase common shares (in shares) 0                            
Issuance of warrants to purchase common shares $ 302                 302          
Shares issued for restricted stock, net of forfeitures (in shares) (16,633)                            
Shares issued for restricted stock, net of forfeitures $ 0                 (10)       10  
Compensation expense related to restricted stock awards 54                 54          
Net loss (1,118)                       (1,118)    
Dividends paid on common stock (53)                       (53)    
Dividends paid on preferred stock $ (35)                       (35)    
Purchase of common stock (in shares) (487,458)                            
Purchase of common stock $ (11)                         (11)  
Other comprehensive (loss) income, net of tax $ (41)                           (41)
Ending balance (in shares) at Dec. 31, 2024 414,934,628                            
Ending balance at Dec. 31, 2024 $ 8,167         503 4     9,282     (763) (219) (640)
Preferred Stock Mezzanine (Par Value: $0.01)                              
Issuance of mezzanine preferred stock Series , net   $ 258 $ 346                        
Issuance of common shares for the conversion of Series B/ C preferred, net       $ (257) $ (346)                    
Ending balance at Dec. 31, 2024 $ 1                            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Shares issued for restricted stock, net of forfeitures (in shares) 1,962,003                            
Shares issued for restricted stock, net of forfeitures $ (1)                 (40)       39  
Compensation expense related to restricted stock awards 61                 61          
Net loss (177)                       (177)    
Dividends paid on common stock (15)                       (15)    
Dividends paid on preferred stock $ (33)                       (33)    
Purchase of common stock (in shares) (914,595)                            
Purchase of common stock $ (10)                         (10)  
Other comprehensive (loss) income, net of tax $ 151                           151
Ending balance (in shares) at Dec. 31, 2025 415,982,036                            
Ending balance at Dec. 31, 2025 $ 8,143         $ 503 $ 4     $ 9,303     $ (988) $ (190) $ (489)
Ending balance at Dec. 31, 2025 $ 1                            
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dividends paid on common stock (in dollars per share) $ 0.04 $ 0.20 $ 2.04
Series A Preferred Stock      
Dividends paid on preferred stock (in dollars per share) 63.76 63.76 $ 63.76
Series B Preferred Stock      
Dividends paid on preferred stock (in dollars per share) 13.32 $ 6.66  
Series D Preferred Stock      
Dividends paid on preferred stock (in dollars per share) $ 13.32    
Fixed Rate Perpetual Noncumulative Convertible Series B      
Mezzanine preferred stock (in shares)   192,062  
13.00% Fixed Rate Perpetual Noncumulative Convertible Series C      
Mezzanine preferred stock (in shares)   256,307  
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (177) $ (1,118) $ (79)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Provision for credit losses 184 1,092 833
Depreciation and amortization 148 184 165
Loss (gain) on business acquisition 0 121 (2,131)
Goodwill impairment 0 0 2,426
Stock-based compensation 61 54 47
Deferred tax benefit (63) (411) (187)
Other operating activities, net (250) 121 133
Decrease (increase) in other assets 171 282 (721)
Decrease in other liabilities (608) (769) (255)
Change in loans held for sale, net 353 530 32
Net cash (used in) provided by operating activities (181) 86 263
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from repayment of securities available-for-sale 2,517 2,099 1,402
Proceeds from sales of securities available-for-sale including loans that have been securitized 95 373 1,858
Purchases of securities available-for-sale (7,694) (3,440) (3,046)
Redemption of Federal Home Loan Bank stock 222 436 1,501
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock (49) (190) (1,626)
Net proceeds from sales of MSRs 0 1,418 50
Other changes in loans, net 7,644 14,772 (4,331)
Purchases of premises and equipment, net (67) (36) (66)
Other investing activities, net 19 21 30
Cash acquired in business acquisition 0 0 24,901
Net cash provided by investing activities 2,687 15,453 20,673
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net decrease in deposits (9,870) (5,671) (10,738)
Net increase (decrease) in short-term advances 250 (4,250) (550)
Proceeds from long-term debt issuances/advances 4,000 28,236 19,850
Repayments of long-term debt issuances/advances (6,500) (30,837) (19,374)
Cash dividends paid on common stock (15) (53) (486)
Cash dividends paid on preferred stock (33) (35) (33)
Proceeds from common stock issued, net 0 1,004 0
Other financing activities, net 80 17 (78)
Net cash used in financing activities (12,088) (11,589) (11,409)
Net increase (decrease) in cash, cash equivalents, and restricted cash (9,582) 3,950 9,527
Cash, cash equivalents, and restricted cash at beginning of year 15,559 [1] 11,609 [1] 2,082
Cash, cash equivalents, and restricted cash at end of year [1] 5,977 15,559 11,609
Supplemental information:      
Cash paid for interest 2,865 3,693 2,290
Non-cash investing and financing activities:      
Securitization of loans to mortgage-backed securities available-for-sale 0 267 222
Transfer of loans from held for investment to held for sale 347 8,610 163
Transfer of loans from held for sale to held for investment 33 0 0
Business Combinations:      
Fair value of tangible assets acquired 0 0 37,384
Intangible assets 0 0 464
Liabilities assumed 0 0 35,632
Issuance of FDIC Equity appreciation instrument 0 0 85
Restricted Stock Units (RSUs)      
Non-cash investing and financing activities:      
Shares issued for restricted stock awards $ 40 $ 10 $ 31
[1] Refer to Note 15 - Derivative and Hedging Activities for our reconciliation of cash, cash equivalents, and restricted cash.
v3.25.4
Description of Business, Organization and Basis of Presentation
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business, Organization and Basis of Presentation Description of Business, Organization and Basis of Presentation
Organization

Flagstar Bank, National Association was organized under Delaware law on July 20, 1993. Throughout this report we refer to Flagstar Bank, National Association and its consolidated subsidiaries in a simplified and collective manner, using words like "we," "our," "us" and "the Bank."

We are headquartered in Hicksville, New York with regional headquarters in Troy, Michigan. We are subject to regulation and oversight by the Office of the Comptroller of the Currency. We currently operate approximately 340 locations across nine states, with strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and California.

Effective October 17, 2025, the Bank became the successor reporting company to Flagstar Financial, Inc. pursuant to an internal corporate reorganization to eliminate the Bank’s holding company structure (the “Reorganization”). In connection with the completion of the Reorganization, Flagstar Financial, Inc. was merged with and into the Bank (the “Merger”), with the Bank continuing as the surviving entity. The Bank’s common stock, as well as depositary shares representing interests in the Bank's Series A preferred stock and the BONUSES Units, were registered with the Bank’s primary banking regulator, the OCC, under the Securities Exchange Act of 1934, as amended, and are subject to federal regulation and oversight by the OCC.

The Bank assumed Flagstar Financial, Inc.'s debt obligations, equity incentive plans, equity compensation plans, and other compensation plans as a result of the Merger. Additionally, immediately after the Merger, the Bank had substantially the same consolidated assets, liabilities, and stockholders' equity as Flagstar Financial, Inc. immediately prior to the Merger.

Basis of Presentation

The accompanying consolidated financial statements include the accounts of the Bank and other entities in which the Bank has a controlling financial interest. We prepare these consolidated financial statements in accordance with GAAP. All inter-company accounts and transactions are eliminated in consolidation. The Bank currently has certain unconsolidated subsidiaries in the form of wholly-owned statutory business trusts, which were formed to issue guaranteed capital securities. See Note 12 - Borrowed Funds, for additional information regarding these trusts.

When necessary, certain reclassifications have been made to prior-year amounts to conform to the current-year presentation.

We have also considered the impact of subsequent events on these consolidated financial statements through the date of issuance of the consolidated financial statements.

Except for per share or otherwise specified amounts, all amounts presented within the tables below are stated in millions.

Use of Estimates

We prepare these consolidated financial statements using financial information available at the time of preparation, which requires us to make estimates that affect the amounts reported. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the estimates employed are appropriate and the resulting balances are reasonable; however, due to inherent uncertainties in making estimates, actual results could differ from the original estimates, requiring adjustments to these balances in future periods.
Our most significant estimate relates to the ACL.
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Cash and Due from Banks, Interest Earning Deposits, Cash Equivalents and Restricted Cash

Cash and due from banks includes cash equivalents, cash on hand and cash due from other banks. Interest-earning deposits and other securities with financial institutions consists primarily of interest-bearing deposits and short-term money market investments.

Cash that the Bank pledges as maintenance margin on centrally cleared derivatives is considered restricted cash given that it is held in a separate account on the Bank’s behalf and we cannot remove the funds without changing the legal nature of our derivative arrangement. Restricted Cash is included in Other assets on the Consolidated Statements of Condition.

Debt Securities

Debt securities that are classified as "available for sale" are carried at their estimated fair value, with any unrealized gains or losses, net of taxes, reported as Accumulated other comprehensive loss. Premiums and discounts on debt securities are amortized to expense and accreted to income, respectively, over their remaining life using the effective interest method and are adjusted for anticipated prepayments. Interest income on our debt securities is recognized when earned and recorded in Securities and money market investments on the Consolidated Statements of (Loss) Income.

We evaluate available-for-sale debt securities in unrealized loss positions on a quarterly basis to determine if any portion of the unrealized losses in Accumulated other comprehensive loss is a result of a credit loss or other factors.

For debt securities we intend to sell or it is more likely than not we will be required to sell the security before the recovery of the unrealized loss, the difference between the fair value and amortized cost basis of the security is considered impaired and is recognized in Other non-interest income on the Consolidated Statements of (Loss) Income.

For debt securities we do not intend to sell or it is not more likely than not to be required to be sold before the recovery of their amortized cost basis, the credit portion of the impairment is recognized through an ACL while the noncredit portion is recognized in OCI. To determine the credit portion, we evaluate the present value of cash flows expected to be collected from the security compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis.

We exclude accrued interest receivable on available-for-sale securities from the estimate of credit losses.
Debt securities are valued based upon the lowest level of input that is significant to the fair value measurement. Securities such as highly liquid government securities and exchange-traded securities are valued based on quoted prices in an active market. For securities where a quoted price is not available, then the fair value is estimated using pricing models. These pricing models primarily use market-based or independently-sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices, and credit spreads. The models also incorporate transaction details such as maturity and cash flow assumptions. Securities valued in this manner primarily include mortgage-related and corporate debt securities.

Equity Investments with Readily Determinable Fair Values

Equity investments with readily determinable fair values are measured at fair value with changes in fair value recognized in Net gain on investment securities in the Consolidated Statements of (Loss) Income. We do not consider contractual restrictions on the sale of equity securities when measuring fair value. Dividend income on these securities is included in Securities and money market investments on the Consolidated Statements of (Loss) Income.
Loans Held for Sale

We classify loans as held for sale when we originate or purchase loans that we intend to sell or when we change our intent for loans previously classified as held for investment. Loans held for sale may be carried at the lower of cost or fair value or at fair value where we have elected the fair value option. Gains and losses on loans held for sale for which we have elected the fair value option are recorded to Other noninterest income on the Consolidated Statements of (Loss) Income.

Loans held for sale for which we did not elect the fair value option are recorded at the lower of cost or fair value at the individual loan level.

We elect to measure certain groups of loans held for sale under the fair value option, primarily residential mortgage loans. The fair value of loans held for sale for which we have elected the fair value option is estimated based upon quoted market prices for securities backed by similar types of loans, where available, or by discounting estimated cash flows using observable inputs inclusive of interest rates, prepayment speeds and loss assumptions for similar collateral.

Loans Held for Investment

We classify loans that we have the intent and ability to hold for the foreseeable future or until maturity as loans held for investment. We report loans held for investment at their amortized cost which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees and costs, hedge accounting adjustments and fair value adjustments for acquired loans.

We recognize interest income on loans using the effective interest method over the life of the loan. Accordingly, we defer certain loan origination and commitment fees, and certain loan origination costs, and amortize the net fee or cost as an adjustment to the loan yield over the term of the related loan. When a loan is sold or repaid, the remaining net unamortized fee or cost is recognized in interest income.

Non-accrual and Past Due Loans and Leases

Loans are considered past due when the contractual principal and interest is not received within 30 days of the contractual due date.

A loan generally is classified as a "non-accrual" loan when it is determined that we no longer expect to collect all amounts due according to the contractual terms of the loan agreement. This may occur upon the performance of a credit review of a loan or borrower when a loan is 90 days or more past due or when we are made aware of new facts and circumstances that may impact a borrower's ability to pay in accordance with the contractual loan terms. When a loan is placed on non-accrual status, we cease the accrual of interest owed, and previously accrued interest is reversed against Interest Income - Loans and leases. Interest received on non-accrual loans is recorded as a reduction to the outstanding principal. A loan is only returned to accrual status when the loan is current (typically six months of payment performance) and we have reasonable assurance that the loan will be fully collectible. When we have reasonable assurance that the loan will be fully collectible, then interest payments may be recognized in interest income on a cash basis.

Charge-off of Uncollectible Loans

We charge off loans, or portions of loans, when they are deemed uncollectible. The collectability of individual loans is determined through an assessment of the financial condition and repayment capacity of the borrower and/or through an estimate of the fair value of any underlying collateral. For non-real estate-related consumer credits, the following past-due time periods determine when charge-offs are typically recorded: (1) closed-end credits are charged off in the quarter that the loan becomes 120 days past due; (2) open-end credits are charged off in the quarter that the loan becomes 180 days past due; and (3) both closed-end and open-end credits are typically charged off in the quarter that the credit is 60 days past the date the Bank received notification that the borrower has filed for bankruptcy.

Allowance for Credit Losses on Loans and Leases and Unfunded Commitments

The ACL represents our estimate of expected credit losses over the remaining contractual terms of our loans and leases, and unfunded off-balance sheet commitments. The ACL is deducted from the amortized cost basis of loans and leases so that the Statement of Condition reflects the net amount we expect to collect.
We reduce our ACL when a loan is charged off and increase the ACL when we recognize a recovery, which generally occurs upon cash collection. We remeasure our ACL on a quarterly basis with any changes recorded as a provision for (or benefit from) credit losses.

Determining the ACL requires significant judgment and assumptions and is based on ongoing assessments of historical credit loss information, forecasts of market and economic conditions, and qualitative factors considered relevant and appropriate by management.

The ACL represents an estimate of credit losses over the remaining expected life of our loans and leases. Expected life is determined considering the contractual term and prepayment expectations. We group our loans and leases into collectively evaluated pools when similar characteristics exist.

Our pools of loans and leases include multi-family, commercial real estate, commercial and industrial, 1-4 family, and other consumer. The ACL for collectively evaluated loans is estimated using models that project the probability of default and loss given default. These models consider borrower and collateral characteristics and a forecast of market and economic variables over a reasonable and supportable period. We leverage a forecast of market and economic conditions from established independent third parties and consider these to be reasonable and supportable for a period of two years from their estimation period. Beyond this period, our forecasts revert on a straight-line basis to long run historical averages over a one-year period. The ACL for collectively evaluated loans is derived using a weighted average of three scenarios, consisting of a most likely outcome (baseline), and two less probable scenarios with one being a stronger-near-term growth outcome (upside), and the other being a moderate recession outcome (downside).

We consider the need for qualitative adjustments to reflect trends not fully captured by the models. These may include adjustments for changes in underwriting standards, portfolio mix, credit terms, the financial condition of the borrower or collateral conditions. Qualitative adjustments may also include specific idiosyncratic risks such as changes in environmental conditions, legislation, regulation, policies, administrative practices or other relevant factors. Given the dynamic nature of qualitative adjustments, the factors considered by management and their relative impact to the ACL may vary from period to period.

Loans that do not share similar risk characteristics are evaluated on an individual basis. These generally include loans that are in non-accrual status and loans that are designated as TDMs. If a loan is determined to be collateral dependent or meets the criteria to apply the collateral-dependent practical expedient, expected credit losses are generally determined based on the fair value of the collateral at the reporting date, less costs to sell, as appropriate.

We maintain an ACL on off-balance sheet unfunded commitments which is included in Other liabilities. We estimate expected credit losses over the contractual period in which we are exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable. The ACL estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses considering the same elements as those analyzed when determining the allowance for funded loans and leases. Adjustments to the reserve for unfunded commitments are included in the Provision for credit losses in the Consolidated Statements of (Loss) Income.

Intangible Assets

We review our finite-lived intangible assets for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. Our largest intangible asset is the core deposit intangible recorded as a result of acquisitions.

Mortgage Servicing Rights

During the year ended December 31, 2024, we sold the vast majority of our MSR portfolio.

We purchased and originated mortgage loans for sale to the secondary market and sold the loans on either a servicing-retained or servicing-released basis. If we retained the right to service the loan, an MSR was created at the time of sale which was recorded at fair value. We used an internal valuation model that utilized an option-adjusted spread, constant prepayment speeds, costs to service and other assumptions to determine the fair value of mortgage servicing rights.

Servicing fee income, late fees and ancillary fees received on loans for which we owned the MSR as well as changes in the fair value of our mortgage servicing rights were included in Non-interest income - Net return on mortgage servicing rights
in the Consolidated Statements of (Loss) Income. The fees were based on the outstanding principal and were recorded when earned. Subservicing fees, which were included in Non-interest income - Net loan administration income, were based on a contractual monthly amount per loan including late fees and other ancillary income.

For further information, see Note 9 - Mortgage Servicing Rights and Note 18 - Fair Value Measurement.

Premises and Equipment, Net

Premises, furniture, fixtures, and equipment, and leasehold improvements are carried at cost less accumulated depreciation computed on a straight-line basis over the estimated useful lives of the respective assets or the shorter of the related lease term or the estimated useful life of the improvement. The estimated useful lives for premises and equipment assets are as follows:

Premises and Equipment
Years
Buildings
20 - 50
Furniture, fixtures and equipment
3 - 10
Leasehold improvements
Up to 20
ATMs3

Whenever events or changes in circumstances dictate, we test our premises and equipment for impairment. In the event the carrying amount of the long-lived asset is not recoverable, an impairment loss is measured by comparing the carrying amount of the long-lived asset or asset group against its fair value. Impairments of our premises and equipment are recorded in Non-interest expense - General and administrative in the Consolidated Statements of (Loss) Income.

Income Taxes

Deferred tax assets and liabilities are recorded to recognize the future tax impact attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. We consider our expectation of future taxable income and establish a valuation allowance when realization of a deferred tax asset is not considered to be “more likely than not.”

We estimate income taxes payable based on the amount we expect to owe the various federal, state and local tax authorities. In estimating income taxes, we assess the relative merits and risks of the appropriate tax treatment of transactions, taking into account statutory, judicial, and regulatory guidance in the context of our tax position. In this process, we also rely on tax opinions, recent audits, and historical experience. Although we use the best available information to record income taxes, underlying estimates and assumptions can change over time as a result of unanticipated events or circumstances such as changes in tax laws and judicial guidance influencing our overall tax position.

Derivative Instruments and Hedging Activities

Derivative financial instruments are recorded at fair value in Other assets and Other liabilities on the Consolidated Statements of Condition on a gross basis, even when provisions allowing for set-off are in place. The accounting for changes in fair value of each derivative financial instrument depends on whether it has been designated and qualifies as an accounting hedge, as well as the type of hedging relationship.

Premiums paid on certain hedging instruments are accounted for separately and are amortized over the life of the derivative. The amortization of these premiums is recorded in Interest expense - Borrowed funds in the Consolidated Statements of (Loss) Income.

Derivatives subject to master netting agreements are cleared through a Central Counterparty Clearing House, which mitigates non-performance risk with counterparties and enables us to settle activity on a net basis.

Derivative contracts cleared through certain central clearing parties are settled daily via the exchange of variation margin. We may exchange additional cash collateral with the derivative counterparties for initial margin. We believe that the non-performance risk inherent in our remaining derivative contracts is minimal based on credit standards and the collateral provisions of the derivative agreements.
Derivatives not designated as hedging instruments

We utilize interest rate swaps and caps to meet the needs of customers. We also enter into interest rate lock commitments, which are commitments to originate mortgage loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. Market risk on interest rate lock commitments and mortgage loans held for sale may be managed using corresponding forward sale commitments. Changes in the fair value of derivatives not designated as hedging instruments are recognized in current period earnings on the Consolidated Statements of (Loss) Income.

Derivatives designated as hedging instruments

In prior periods, we had designated certain interest rate swaps to manage the variability in cash flows associated with overnight SOFR-based variable interest payments on FHLB advances. The changes in the fair value of these contracts were recorded in Accumulated other comprehensive loss and were reclassified into Interest expense – Borrowed funds in the Consolidated Statements of (Loss) Income in the same period in which the hedged transactions were recognized in earnings.

We designate certain fixed-rate to variable-rate interest rate swaps as fair value hedges to hedge the changes in the fair value of certain debt securities available-for-sale. We designate certain fixed-rate to variable-rate interest rate swaps as fair value hedges to hedge the changes in the fair value of certain of our pools of fixed-rate loans. The changes in the fair value of these contracts and the hedged item are recognized in Interest income - Loans and leases or Interest income - Securities and money market investments in the Consolidated Statements of (Loss) Income.

When we elect to de-designate a hedge relationship or a derivative no longer qualifies as an effective fair value hedge, the derivative continues to be carried on the Consolidated Statements of Condition at fair value with the total change in fair value recognized over the remaining life of the previously hedged item.

For additional information regarding the accounting for derivatives, see Note 15 - Derivative and Hedging Activities and for additional information on recurring fair value disclosures, see Note 18 - Fair Value Measurement.

Fair Value Measurement

Fair value is an “exit” price, representing the amount that would be received when selling an asset, or paid when transferring a liability in an orderly transaction between market participants. Fair value is determined based on assumptions that market participants would use in pricing an asset or liability.

Valuation Hierarchy: GAAP establishes a three-tier fair value hierarchy, which prioritizes the significant inputs used in measuring fair value as follows:

•Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
•Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
•Level 3 – Inputs to the valuation methodology contain significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants use in pricing an asset or liability.

A financial instrument’s categorization within this valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Retirement Plans

Our pension benefit obligations and the related costs are calculated using actuarial concepts in accordance with GAAP. The measurement of this obligation and the related expenses require that certain assumptions be made, most notably the discount rate and the expected rate of return on plan assets.

To determine the discount rate, we consider rates of return on high-quality fixed-income investments that are currently available and are expected to be available during the period until the pension benefits are paid. The expected future payments are discounted based on a portfolio of high-quality rated bonds (AA or better) for which we rely on the Financial Times Stock Exchange (“FTSE”) Pension Liability Index that is published as of the measurement date.
The expected long-term rate of return on retirement plan assets assumption is based on historical returns earned by equities and fixed income securities and adjusted to reflect expectations of future returns as applied to the retirement plan’s target allocation of asset classes. Equities and fixed income securities were assumed to earn long-term rates of return in the ranges of 6 percent to 8 percent and 3 percent to 5 percent, respectively, with an assumed long-term inflation rate of 2.5 percent reflected within these ranges. When these overall return expectations are applied to the retirement plan’s target allocations, the result is an expected rate of return of 5 percent to 7 percent.

Stock-Based Compensation

We recognize compensation expense for our stock-based awards on a straight-line basis over the requisite service period. Unvested shares are forfeited upon termination, including retirement, other than in cases of death or long-term disability, which may result in accelerated vesting. Compensation expense related to stock option awards is based on the estimated fair value of the stock option award on the grant date using the Black-Scholes option pricing model. Compensation expense related to restricted stock awards is based upon the fair value of the award on the grant date. Forfeitures of stock options and restricted stock awards are accounted for as they occur.

Lessor Leasing Agreements

Lessor Arrangements

We provide leases for equipment included in our commercial loan portfolio. These qualify as direct financing leases which are recorded based upon the lease payments, estimated residual values and direct costs, excluding unearned income and uses the implicit interest rate to determine the value. Lease terms typically range from 24 to 120 months. We base residual value estimates on asset life, market value, and lessee behavior using industry data and third-party appraisals. At the end of the lease term, the lessee can renew the lease term, return, or purchase the equipment at its fair value. Impairment of residual value occurs if its fair value is less than the carrying amount. We review our direct financing leases for impairment at least annually. We utilize residual value insurance for certain of our direct finance leases.

Lessee Arrangements
We have operating leases for offices, branches, equipment and other items, generally with terms of 20 years or less. Certain leases contain options to extend or terminate early and we consider these options when evaluating the lease term to determine if they are reasonably certain to be exercised based on all relevant economic and financial factors.

At lease inception, lease liabilities are recognized in Other liabilities based on the present value of the remaining lease payments, discounted using our incremental borrowing rate if no implicit rate in the lease is available. Right-of-use assets, recognized in Other assets, represent our right to use an underlying asset for the lease term and are initially equal to the lease liability, adjusted for any payments made prior to lease commencement and any lease incentives.

Revenue Recognition

Revenue is recognized when obligations, under the terms of a contract with our customer, are satisfied, which generally occurs when services are performed. Revenue is measured as the amount of consideration we expect to receive in exchange for providing services.

Deposit account and other banking income - We charge depositors various deposit account service fees including those for outgoing wires, overdrafts, stop payments, and ATM fees. These fees are generated from a depositor’s option to purchase services offered under the contract and are only considered a contract when the depositor exercises their option to purchase these account services. Therefore, we deem the term of our contracts with depositors to be day-to-day and to not extend beyond the services already provided. Deposit account and other banking fees are recorded at the point in time we perform the requested service.

Interchange income - We collect interchange fee income when debit cards that we have issued to our customers are used in merchant transactions. Our performance obligation is satisfied and revenue is recognized at the point we initiate the payment of funds from a customer’s account to a merchant account.

Treasury management fee income - We collect fees for treasury management services provided to corporate and institutional clients, including services related to liquidity management, payments and collections, financial risk management,
and security, delivered through an integrated platform of products and services. Fees earned on these activities are generally recognized when the transactions occur or the service is performed.

Earnings per Common Share

EPS is calculated under the two-class method as the unvested RSUs granted by the Bank are considered participating securities due to the awards' non-forfeitable rights to dividends paid on our common stock. Under the two-class method, all earnings, distributed and undistributed, are allocated to common stock and participating securities based on their respective rights to receive dividends on our common stock.

Basic and diluted earnings per share are computed by dividing Net income attributable to common stockholders by the weighted-average common shares outstanding in the period. Diluted earnings per share is computed by giving effect to all potentially dilutive securities that are outstanding. The potential dilutive effect of our warrants and convertible preferred stock is determined using the if-converted method and the potential dilutive effect of our stock options and stock-based awards is determined using the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods where the effect would be antidilutive.

Accounting and Reporting Developments

Standards adopted in 2025

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which amends the disclosure requirement for income taxes. ASU 2023-09 requires (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also updates certain other amendments to improve the effectiveness of income tax disclosures. We adopted this standard on a retrospective basis. The adoption of ASU 2023-09 did not have an impact of our consolidated financial condition, results of operations, or cash flows, as the standard only affects disclosures.

In November 2025, the FASB issued ASU 2025-08, "Financial Instruments—Credit Losses (Topic 326): Purchased Loans," which expanded the gross-up approach for initial recognition and measurement of acquired financial assets to purchased seasoned loans. The adoption of ASU 2025-08 did not have an impact on our consolidated financial statements.

In November 2025, the FASB issued ASU 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements," which clarifies certain aspects of the guidance on hedge accounting and addresses several incremental hedge accounting issues arising from global reference rate reform. The adoption of ASU 2025-09 did not have an impact on our consolidated financial statements.

Significant Standards Issued but Not Yet Adopted

In November 2023, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses," which requires additional
interim and annual disclosures that further disaggregate certain expense captions into specific categories in a separate note to the financial statements, as well as certain qualitative information describing amounts not separately disaggregated. ASU 2024-03 is effective for us in the annual period beginning on January 1, 2027 and interim periods beginning January 1, 2028 and can be applied on a prospective or retroactive basis, with early adoption permitted. We are in the process of assessing the impact of the adoption of ASU 2024-03 on our consolidated financial statements.

In November 2024, the FASB issued ASU 2024-04, "Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments," which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an “induced conversion.” ASU 2024-04 is effective for us in the annual period beginning on January 1, 2026 and can be applied on either a prospective or a retrospective basis, with early adoption permitted. We do not expect ASU 2024-04 to have a material impact on our financial statements upon adoption.
In September 2025, the FASB issued ASU 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software," which increases the operability of the recognition guidance considering different methods of software development. ASU 2025-06 is effective for us in the annual period beginning on January 1, 2028 and can be applied on a prospective, modified, or a retrospective transition approach, with early adoption permitted as of the beginning of an annual reporting period. We are in the process of assessing the impact of the adoption of ASU 2025-06 on our consolidated financial statements.

In December 2025, the FASB issued ASU 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements," which clarifies interim disclosure requirements. ASU 2025-11 is effective for us in the annual period beginning January 1, 2028 and can be applied on a prospective or retrospective basis, with early adoption permitted. We are in the process of assessing the impact of the adoption of ASU 2025-11 on our consolidated financial statements.
v3.25.4
Business Combinations
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
Signature Bridge Bank

On March 20, 2023, we entered into a Purchase and Assumption Agreement (the “Agreement”) with the FDIC, as receiver (the "FDIC Receiver") of Signature Bridge Bank, N.A. (“Signature”) to acquire certain assets and assume certain liabilities of Signature (the “Signature Transaction”). In connection with the Signature Transaction we assumed all of Signature’s branches. We acquired only certain parts of Signature we believed to be financially and strategically complementary that were intended to enhance our future growth.

Pursuant to the terms of the Agreement, we were not required to make a cash payment to the FDIC on March 20, 2023, as consideration for the acquired assets and assumed liabilities. Any items identified that affected the bargain gain were recorded in the period they were identified as a result of ongoing discussion that impacted the assets and liabilities acquired or assumed through the three months ended March 31, 2024.

As part of the consideration for the Signature Transaction, we granted the FDIC equity appreciation rights in our common stock under an equity appreciation instrument (the "Equity Appreciation Instrument"). On March 31, 2023, we issued 13,010,668 shares of common stock to the FDIC pursuant to the Equity Appreciation Instrument. On May 19, 2023, the FDIC completed the secondary offering of those shares.

We determined that the Signature Transaction constituted a business combination as defined by Accounting Standards Codification 805, Business Combinations ("ASC 805"). ASC 805 establishes principles and requirements as to how the acquirer of a business recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree. Accordingly, the assets acquired and liabilities assumed were recorded based on their preliminary estimated fair values as of March 20, 2023, which were adjusted through March 20, 2024 based on changes to those preliminary estimates.

Under the Agreement, we provided certain services to the FDIC to assist the FDIC in its administration of certain assets and liabilities which were not assumed by us, and which remain under the control of the FDIC (the “Interim Servicing”). The Interim Servicing included activities related to the servicing of loan portfolios not acquired on behalf of the FDIC until March 20, 2024. The FDIC reimbursed us for costs associated with the Interim Servicing based upon an agreed upon fee which approximated the cost to provide such services. Based on the intent to reimburse us for the costs to service the loans, neither a servicing asset nor servicing liability was recognized. We did not enter into a loss sharing arrangement with the FDIC in connection with the Signature Transaction.
A summary of the bargain purchase gain is as follows:


Net assets acquired as of March 20, 2023 before fair value adjustments
$2,973 
  Fair value adjustments:
    Loans(727)
    Core deposit and other intangibles464 
    Certificates of deposit 27 
    Other net assets and liabilities39 
    FDIC Equity Appreciation Instrument(85)
Deferred tax liability(690)
Bargain purchase gain on Signature Transaction, as initially reported$2,001 
Adjustments related to items identified subsequent to the initial reporting period as of March 20, 2023:
Measurement period adjustments, excluding taxes$(134)
Change in deferred tax liability143 
Bargain purchase gain on Signature Transaction, as adjusted$2,010 

The assets acquired and liabilities assumed and consideration paid in the Signature Transaction were initially recorded at their estimated fair values based on management’s best estimates using information available at the date of the Signature Transaction, and were subject to adjustment for up to one year after the closing date of the Signature Transaction. The incremental changes are included as measurement period adjustments in the table below.

As Initially Reported
Measurement Period Adjustments
As Adjusted
Purchase Price consideration$85 $— $85 
Fair value of assets acquired:
Cash & cash equivalents25,043 (142)24,901 
Loans held for sale232 — 232 
Loans held for investment:
Commercial and industrial10,102 (214)9,888 
Commercial real estate1,942 (262)1,680 
Consumer and other174 (1)173 
Total loans held for investment$12,218 $(477)$11,741 
CDI and other intangible assets464 — 464 
Other assets679 (266)413 
Total assets acquired$38,636 $(885)$37,751 
Fair value of liabilities assumed:
Deposits33,568 (61)33,507 
Other liabilities2,982 (833)2,149 
Total liabilities assumed$36,550 $(894)$35,656 
Fair value of net identifiable assets2,086 9 2,095 
Bargain purchase gain$2,001 $9 $2,010 

During the Measurement Period, we recorded adjustments to the estimated fair value of loans and leases acquired based on information received after the transaction date and to adjust other assets and accrued expenses and other liabilities for balances ultimately retained by the FDIC. We also recognized a net change in the deferred tax liability due to the measurement period adjustments and the secondary offering of shares completed by the FDIC.

Fair Value of Assets Acquired and Liabilities Assumed

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, reflecting assumptions that a market participant would use when pricing an asset or liability. In some cases, the estimation of fair values requires management to make estimates about
discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and are subject to change.

Cash and Cash Equivalents

The estimated fair value of cash and cash equivalents approximates their stated face amounts, as these financial instruments are either due on demand or have short-term maturities.

Loans and leases

The fair value for loans was based on a discounted cash flow methodology that considered credit loss expectations, market interest rates and other market factors such as liquidity from the perspective of a market participant. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The probability of default, loss given default and prepayment assumptions were the key factors driving credit losses which were embedded into the estimated cash flows. These assumptions were informed by internal data on loan characteristics, historical loss experience, and current and forecasted economic conditions. The interest and liquidity component of the estimate was determined by discounting interest and principal cash flows through the expected life of each loan. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity. The discount rates do not include a factor for credit losses as that has been included as a reduction to the estimated cash flows. Acquired loans were marked to fair value and adjusted for any PCD gross up as of the date of the Signature Transaction.

Deposit Liabilities

The fair value of deposit liabilities with no stated maturity (i.e., non-interest-bearing and interest-bearing checking accounts) is equal to the carrying amounts payable on demand. The fair value of certificates of deposit represents contractual cash flows, discounted using interest rates currently offered on deposits with similar characteristics and remaining maturities.

Core Deposit Intangible

CDI is a measure of the value of non-interest-bearing and interest-bearing checking accounts, savings accounts, and money market accounts that are acquired in a business combination. The fair value of the CDI was determined using a discounted cashflow methodology which considered discount rate, customer attrition rates, and other relevant market assumptions. This method estimated the fair value by discounting the present value of the expected cost savings attributable to the core deposit funding, relative to an alternative source of funding. The CDI relating to the Signature Transaction will be amortized over an estimated useful life of 10 years using the sum of years digits depreciation method. The Bank evaluates such identifiable intangibles for impairment when an indication of impairment exists.

PCD loans

Purchased loans that reflect a more than insignificant deterioration of credit from origination are considered PCD. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held for investment. The following table provides a summary of loans and leases purchased as part of the Signature Transaction with credit deterioration and the associated credit loss reserve at acquisition:

Total
Par value (UPB)$583 
Allowance for credit losses at acquisition(13)
Non-credit (discount)(76)
Fair value$494 

Unaudited Pro Forma Information – Signature Transaction

The Bank’s operating results for the year ended December 31, 2023 include the operating results of the acquired assets and assumed liabilities of Signature subsequent to the acquisition on March 20, 2023. Due to the use of multiple systems and integration of the operating activities into those of the Bank, historical reporting for the former Signature operations is impracticable and thus disclosures of the revenue from the assets acquired and income before income taxes is impracticable for the period subsequent to acquisition.
Signature was only in operation from March 12, 2023 to March 20, 2023 and does not have historical financial information on which we could base pro forma information. Additionally, we did not acquire all assets or assume all liabilities of Signature and the historical operations are not consistent with the transaction. Therefore, it is impracticable to provide pro forma information on revenues and earnings for the Signature Transaction in accordance with ASC 805-10-50-2.
v3.25.4
Earnings per Common Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings per Common Share Earnings per Common Share
The following table reflects basic and diluted weighted average shares and net loss per share:

Year Ended December 31,
202520242023
Net (loss) income attributable to common stockholders$(210)$(1,153)$(112)
Less: Income allocated to participating securities
— — (5)
(Loss) earnings attributable to common stock$(210)$(1,153)$(117)
Weighted average common shares outstanding415,327,556330,713,517237,881,183
Basic (loss) earnings per common share$(0.50)$(3.49)$(0.49)
(Loss) earnings attributable to common stock$(210)$(1,153)$(117)
Weighted average common shares outstanding415,327,556330,713,517237,881,183
Dilutive potential common shares
———
Total shares for diluted earnings per common share computation415,327,556330,713,517 237,881,183 
Diluted (loss) earnings per common share and common share equivalents$(0.50)$(3.49)$(0.49)

For the year ended December 31, 2025, 40,125,738 shares were excluded from the diluted EPS calculation as they would have been antidilutive.
v3.25.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table summarizes the changes in AOCL, net of tax, for the periods presented:

Securities AFS
Cash Flow Hedges
Pension and Post-retirement Plans
Total
Balance as of December 31, 2022
$(626)$52 $(46)$(620)
   Other comprehensive income (loss) before reclassification, net of tax
4561263
   Amounts reclassified from AOCL to (income)/expense, net of tax
—(48)6(42)
   Other comprehensive income (loss), net of tax
45(42)1821
Balance as of December 31, 2023
$(581)$10 $(28)$(599)
   Other comprehensive income (loss) before reclassification, net of tax
(72)106(8)26
   Amounts reclassified from AOCL to (income)/expense, net of tax
—(69)2(67)
   Other comprehensive income (loss), net of tax
(72)37(6)(41)
Balance as of December 31, 2024
$(653)$47 $(34)$(640)
   Other comprehensive income (loss) before reclassification, net of tax
186—10196
   Amounts reclassified from AOCL to (income)/expense, net of tax
—(47)2(45)
   Other comprehensive income (loss), net of tax
186(47)12151
Balance as of December 31, 2025
$(467)$— $(22)$(489)
We had $47 million of unrealized gains related to terminated cash flow hedges recorded in AOCL at December 31, 2024. All net unrealized gains related to the terminated cash flow hedges were reclassified into earnings during the year ended December 31, 2025, see Note 15 - Derivative and Hedging Activities.

The following table sets forth the amounts reclassified out of accumulated other comprehensive loss:

Amount Reclassified out of AOCL
Affected Line Item in the Consolidated Statements of (Loss) Income
202520242023
Cash Flow Hedges:
Realized gain on cash flow hedges
$64 $93 $65 
Interest expense - Borrowed funds
Tax benefit (expense)
(17)(24)(17)
Income tax (benefit)
$47 $69 $48 
Pension and Post-retirement Plans:
Amortization of actuarial losses
(3)(3)(7)
General and administrative
Tax benefit (expense)
1 1 1 
Income tax (benefit)
$(2)$(2)$(6)
Amounts reclassified from AOCL, net of tax
$45 $67 $42 
v3.25.4
Investment Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities
Debt securities available-for-sale

The following tables summarize our portfolio of debt securities available-for-sale:

December 31, 2025

Amortized Cost
Gross Unrealized GainGross Unrealized LossFair Value
Debt securities available-for-sale
Mortgage-Related Debt Securities:
GSE CMOs$12,129 $55 $360 $11,824 
GSE certificates1,116 2 119 999 
Private label CMOs
147 12 — 159 
Total mortgage-related debt securities$13,392 $69 $479 $12,982 
Other Debt Securities:
GSE debentures$1,502 $— $206 $1,296 
U. S. Treasury obligations1,001 16 — 1,017 
Corporate bonds147 — 3 144 
Asset-backed securities
217 — 4 213 
Capital trust notes47 6 8 45 
Municipal bonds4 — — 4 
Total debt securities
$2,918 $22 $221 $2,719 
Total debt securities available-for-sale, net of allowance(1)(2)(3)(4)
$16,310 $91 $700 $15,701 
(1)At December 31, 2025, substantially all of our debt securities available-for-sale are comprised of securities issued by GSEs or are explicitly guaranteed by the U.S. government.
(2)As of December 31, 2025, the ACL was $2 million.
(3)Excludes accrued interest receivable of $58 million included in Other assets in the Consolidated Statements of Condition.
(4)We pledged investment securities of $15.4 billion as collateral for certain borrowings.
December 31, 2024

Amortized Cost
Gross Unrealized GainGross Unrealized LossFair Value
Debt securities available-for-sale
Mortgage-Related Debt Securities:
GSE CMOs$7,724 $27 $447 $7,304 
GSE certificates1,273 — 167 1,106 
Private label CMOs158 6 1 163 
Total mortgage-related debt securities$9,155 $33 $615 $8,573 
Other Debt Securities:
GSE debentures$1,502 $— $299 $1,203 
Corporate bonds314 — 6 308 
Asset-backed securities
237 1 2 236 
Capital trust notes47 5 10 42 
Foreign Notes35 — — 35 
Municipal bonds5 — — 5 
Total debt securities
$2,140 $6 $317 $1,829 
Total securities available-for-sale, net of allowance(1)(2)(3)(4)
$11,295 $39 $932 $10,402 
(1)At December 31, 2024, substantially all of our debt securities available-for-sale are comprised of securities issued by GSEs or are explicitly guaranteed by the U.S. government.
(2)As of December 31, 2024, the ACL was $3 million.
(3)Excludes accrued interest receivable of $35 million included in Other assets in the Consolidated Statements of Condition.
(4)We pledged investment securities of $10.2 billion as collateral for certain borrowings.

There were $95 million, $106 million, $1.6 billion of available-for-sale securities sold during the year ended December 31, 2025, 2024, and 2023, respectively.

There was an immaterial amount of realized gains and losses on sales of available-for-sale securities in the year ended December 31, 2025. During the year ended December 31, 2024, gross realized gains and losses were less than $1 million. During the year ended December 31, 2023, gross realized gains were $2 million and gross realized losses were $3 million.

The following table summarizes, by contractual maturity, the fair value of securities as of December 31, 2025:

Mortgage- Related SecuritiesU.S. Government and GSE Obligations
Corporate and Other Bonds
Asset-Backed Securities
Total
Available-for-Sale Debt Securities:
Due from one to five years$148 $1,083 $128 $— $1,359 
Due from five to ten years210 1,230 27 — 1,467 
Due after ten years12,624 — 38 213 12,875 
Total debt securities available-for-sale
$12,982 $2,313 $193 $213 $15,701 
The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2025:

Number of Debt Securities(1)
Less than Twelve MonthsTwelve Months or LongerTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Debt securities in a continuous unrealized loss position:
U.S. Government agency and GSE obligations33$— $— $1,297 $206 $1,297 $206 
GSE certificates3248 — 926 119 934 119 
GSE CMOs226427 1 2,993 359 3,420 360 
Asset-backed securities 5— — 152 4 152 4 
Municipal bonds1— — 4 — 4 — 
Corporate bonds5— — 144 3 144 3 
Capital trust notes 5— — 35 8 35 8 
Total debt securities in a continuous unrealized loss position599$435 $1 $5,551 $699 $5,986 $700 
(1)Count of securities that have been in a loss position for twelve or more months.

The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2024:

Number of Debt Securities(1)
Less than Twelve MonthsTwelve Months or LongerTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Debt securities in a continuous unrealized loss position:
GSE CMOs223$1,636 $3 $2,822 $444 $4,458 $447 
U.S. Government agency and GSE obligations33— — 1,203 299 1,203 299 
GSE certificates32838 — 1,040 167 1,078 167 
Corporate bonds11— — 308 6 308 6 
Asset-backed securities5— — 154 2 154 2 
Capital trust notes5— — 33 10 33 10 
Private Label CMOs2— — 17 1 17 1 
Foreign notes1— — 10 — 10 — 
Municipal bonds1— — 5 — 5 — 
Total debt securities in a continuous unrealized loss position609 $1,674 $3 $5,592 $929 $7,266 $932 
(1)Count of securities that have been in a loss position for twelve or more months.

We evaluate available-for-sale debt securities in unrealized loss positions at least quarterly to determine if an ACL is required. We also assess whether (i) we intend to sell, or (ii) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of these criteria is met, any previously recognized allowances are charged off and the security’s amortized cost basis is written down to fair value through income and recorded in Provision for credit losses in the Consolidated Statements of (Loss) Income. Otherwise, we evaluate whether the decline in fair value has resulted from credit losses or other factors. If a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the expected amount to be collected is less than the amortized cost, an ACL is established for the shortfall, but not in excess of the difference between the amortized cost and the fair value. Any unrealized loss that has not been recorded through an ACL is recognized in Other comprehensive (loss) income.

Equity investments with readily determinable fair values
As of December 31, 2025, and December 31, 2024, we held equity securities with readily determinable fair values of $65 million and $14 million, respectively. During the year ended 2025, we recognized a gain of $30 million, which was recorded in Net gain on investment securities in the Consolidated Statements of (Loss) Income, resulting from our investment in Figure Technology Solutions, Inc., which obtained a readily determinable fair value upon the completion of its initial public offering. We are subject to a contractual restriction that prohibits the sale of our shares in Figure Technology Solutions, Inc. until the three months ended March 31, 2026. For the year ended 2025, we recognized total gains of $31 million on all our equity investment securities, compared to an immaterial amount for the years ended 2024 and 2023
v3.25.4
Loans and Leases
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans and Leases Loans and Leases
The composition of our loan portfolio for the periods indicated was as follows:

December 31,
Loans and leases held for investment:20252024
Multi-family$28,983 $34,093 
Commercial real estate(1)
9,314 11,836
One-to-four family first mortgage5,630 5,201
Commercial and industrial(2)
15,217 15,376
Other1,588 1,766
Total loans and leases held for investment (3)(4)
$60,732 $68,272 
Allowance for credit losses on loans and leases(1,030)(1,201)
Total loans and leases held for investment, net$59,702 $67,071 
Loans held for sale265 899
Total loans and leases, net$59,967 $67,970 
(1)Includes ADC loans.
(2)Includes lease financing receivables (net of unearned income of $129 million and $169 million) of $1.7 billion and $2.1 billion at December 31, 2025 and December 31, 2024, respectively.
(3)Excludes accrued interest receivable of $242 million and $277 million at December 31, 2025 and December 31, 2024, respectively, which is included in Other assets in the Consolidated Statements of Condition.
(4)We pledged loans of $31.5 billion and $44.6 billion between the FHLB and FRB-NY to serve as collateral for our wholesale borrowings at December 31, 2025 and December 31, 2024, respectively.

HFI loans are reported at amortized cost which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees and costs, hedge accounting adjustments and fair value adjustments for acquired loans. The unamortized premiums, discounts, deferred fees and costs and hedge accounting adjustments totaled $430 million and $583 million as of December 31, 2025 and 2024, respectively.

Loans with Government Guarantees

Substantially all LGG are insured or guaranteed by the FHA or the U.S. Department of Veterans Affairs. As of December 31, 2025 and December 31, 2024, loans with government guarantees totaled $331 million and $360 million, respectively. These loans are recorded in one-to-four family first mortgages.

Asset Quality

During the years ended December 31, 2025, 2024 and 2023, there was no interest income recognized on non-accrual loans classified as held for investment. As of December 31, 2025 and December 31, 2024 we had no loans that were 90 days or more past due and still accruing.
The following table presents information regarding the delinquency status of our loans held for investment as of December 31, 2025:

Current
Loans 30-89 Days Past Due
Non-Accrual Loans
Total Loans Receivable
Multi-family$26,134 $588 $2,261 $28,983 
Commercial real estate(1)
8,670 155 489 9,314 
One-to-four family first mortgage5,488 78 64 5,630 
Commercial and industrial (2)
14,961 126 130 15,217 
Other1,518 39 31 1,588 
Total$56,771 $986 $2,975 $60,732 
(1)Includes ADC loans.
(2)Includes lease financing receivables.

The following table presents information regarding the delinquency status of our loans held for investment as of December 31, 2024:

CurrentLoans 30-89 Days Past Due Non-Accrual Loans Total Loans Receivable
Multi-family$31,589 $749 $1,755 $34,093 
Commercial real estate(1)
11,202 70 564 11,836 
One-to-four family first mortgage5,106 25 70 5,201 
Commercial and industrial (2)
15,064 110 202 15,376 
Other1,731 11 24 1,766 
Total$64,692 $965 $2,615 $68,272 
(1)Includes ADC loans.
(2)Includes lease financing receivables.
The following table presents the credit rating by vintage for our loans held for investment as of December 31, 2025:

Term LoansRevolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Origination Year
2025
2024
2023
2022
2021
Prior To
2021
Total
Multi-family
Pass$45 $15 $592 $5,782 $5,238 $7,887 $4 $69 $19,632 
Special Mention— — — 754 751 546 — 14 2,065 
Substandard— — 134 819 1,132 2,938 2 — 5,025 
Non-accrual— — 12 293 359 1,597 — — 2,261 
Total Multi-family45 15 738 7,648 7,480 12,968 6 83 28,983 
Year to date gross charge-offs— — — (59)(71)(155)— — (285)
Commercial Real Estate(1)
Pass$478 $373 $1,053 $1,297 $955 $2,104 $924 $95 $7,279 
Special Mention10 10 50 88 5 154 25 10 352 
Substandard1 21 147 143 86 513 124 159 1,194 
Non-accrual— — 12 74 4 365 33 1 489 
Total Commercial Real Estate489 404 1,262 1,602 1,050 3,136 1,106 265 9,314 
Year to date gross charge-offs— — (5)(1)(7)(28)— — (41)
One-to-Four Family
Pass$938 $285 $415 $2,178 $778 $682 $78 $4 $5,358 
Substandard— 1 4 12 2 189 — — 208 
Non-accrual1 3 7 18 12 21 2 — 64 
Total One-to-Four Family939 289 426 2,208 792 892 80 4 5,630 
Year to date gross charge-offs— — — (2)— (2)— — (4)
Commercial and Industrial(2)
Pass$3,638 $793 $1,876 $1,513 $493 $739 $5,236 $231 $14,519 
Special Mention— 42 7 21 1 28 127 — 226 
Substandard— 8 50 35 31 16 201 1 342 
Non-accrual1 18 23 21 5 29 24 9 130 
Total Commercial and Industrial3,639 861 1,956 1,590 530 812 5,588 241 15,217 
Year to date gross charge-offs(25)(1)(32)(21)(5)(3)— — (87)
Other Loans
Pass$44 $27 $21 $7 $2 $30 $1,336 $89 $1,556 
Substandard— — — — — — 1 — 1 
Non-accrual— — — — — 1 30 — 31 
Total Other Loans44 27 21 7 2 31 1,367 89 1,588 
Year to date gross charge-offs(10)(2)(7)(7)— (6)— — (32)
(1)Includes ADC loans.
(2)Includes lease financing receivables.
The following table presents the credit rating by vintage for out loans held for investment as of December 31, 2024:

Term LoansRevolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Origination Year
2024
2023
2022
2021
2020
Prior To
2020
Total
Multi-family
Pass$17 $700 $6,599 $6,070 $5,203 $3,997 $27 $— $22,613 
Special Mention—146886946467951—2,838
Substandard21235298681,5263,8345—6,887
Non-accrual——1131442741,224——1,755
Total Multi-family198377,9297,7767,6499,85033—34,093
Year to date gross charge-offs——(28)(34)(42)(204)——(308)
Commercial Real Estate(1)
Pass$542 $1,298 $1,753 $1,106 $576 $2,068 $1,597 $367 $9,307 
Special Mention—7213069106138120—635
Substandard23117911016272311761,330
Non-accrual—37343644476—564
Total Commercial Real Estate5441,4382,0961,3218483,3761,84037311,836
Year to date gross charge-offs—(8)(81)(1)(27)(349)——(466)
One-to-Four Family
Pass$250 $521 $2,431 $859 $178 $609 $80 $2 $4,930 
Substandard128216172——201
Non-accrual—416107285—70
Total One-to-Four Family2515272,4558712018098525,201
Year to date gross charge-offs——(1)——(7)——(8)
Commercial and Industrial(2)
Pass$1,267 $2,609 $2,014 $651 $450 $759 $5,554 $1,164 $14,468 
Special Mention17291842111196206
Substandard135072727132658500
Non-accrual3516098152—202
Total Commercial and Industrial1,3002,6932,2647364677985,9401,17815,376
Year to date gross charge-offs(3)(20)(40)(20)(19)(34)——(136)
Other Loans
Pass$100 $29 $12 $4 $2 $32 $1,441 $121 $1,741 
Special Mention——————1—1
Non-accrual—————519—24
Total Other Loans100291242371,4611211,766
Year to date gross charge-offs(2)(4)(4)(1)(1)(8)——(20)
(1)Includes ADC loans.
(2)Includes lease financing receivables.

The classifications in the preceding tables reflect the most recent credit evaluations as of the respective dates, which are generally performed within the last twelve months. In addition, they follow regulatory guidelines and can generally be described as follows: pass loans are of satisfactory quality; special mention loans have potential weaknesses that deserve management’s close attention; substandard loans are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged (these loans have a well-defined weakness and there is a possibility that we will sustain some loss); and non-accrual loans, which based on existing circumstances, have weaknesses that make collection or liquidation in full highly questionable and improbable.
Collateral Dependent Loans

The following table summarizes the recorded investment of our collateral-dependent loans held for investment by collateral type:

December 31,
20252024
Collateral Type
Real PropertyReal Property
Multi-family$2,320 $1,817 
Commercial real estate(1)
426 554 
One-to-four family first mortgage59 48 
Commercial and industrial4 — 
Total collateral-dependent loans held for investment$2,809 $2,419 
(1)Includes ADC loans.

Collateral dependent loans generally include multi-family and CRE loans secured by apartment buildings, office buildings, retail and industrial buildings. The primary source of repayment on these loans is expected to come from the sale of the real estate property collateral. Multi-family and CRE loans are impacted by fluctuations in the values of the real estate property.

As of December 31, 2025 and December 31, 2024, we had $19 million and $41 million, respectively, of residential mortgage loans in the process of foreclosure.

Included in loans held for investment as of December 31, 2025 and December 31, 2024 were an immaterial amount and $1 million of loans, respectively, to officers, directors, and their related interests and parties. There were no loans to principal shareholders.

Modifications to Borrowers Experiencing Financial Difficulty

When borrowers are experiencing financial difficulty, we may make certain loan modifications as part of loss mitigation strategies to maximize expected payment. Modifications provided to borrowers who are experiencing financial difficulties are in the form of term extension, an interest rate reduction, and in limited circumstances, principal forgiveness.

During the years ended December 31, 2025, 2024 and 2023, loans totaling $55 million, $34 million and $262 million, respectively, were modified to borrowers experiencing financial difficulty.
The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty:

Interest Rate ReductionTerm ExtensionPrincipal Forgiveness
Weighted-Average Contractual Interest Rate
FromTo
Weighted-Average Term (in years)
Reduced Amortized Cost Basis
Year Ended December 31, 2025
Commercial real estate
— %— %0.4
One-to-four family first mortgage7.02 %6.09 %9.3
Commercial and industrial7.50 %7.25 %2.8
Other Consumer10.30 %5.97 %13.0
Year Ended December 31, 2024
Multi-family8.08 %6.00 %
Commercial real estate
8.13 %6.95 %0.3
One-to-four family first mortgage4.73 %3.80 %11.3$1 
Commercial and industrial7.73 %6.10 %0.7
Other Consumer10.69 %3.71 %2.1
Year Ended December 31, 2023
Multi-family7.45 %6.02 %
Commercial real estate
8.83 %4.56 %
One-to-four family first mortgage6.08 %4.79 %
Commercial and industrial8.44 %8.08 %0.6
Other Consumer9.09 %4.82 %

The following table presents the amortized cost basis of the modifications for borrowers experiencing financial difficulty that subsequently defaulted and were within twelve months of the modification date:

Year Ended December 31, 2025Term ExtensionPrincipal ForgivenessCombination - Interest Rate Reduction and Term/Payment Extension/Delay
One-to-four family first mortgage$13 $— $7 
Commercial and industrial5—2
Total$18 $— $9 
Year Ended December 31, 2024
Commercial real estate$4 $— $— 
One-to-four family first mortgage2 1 1 
Commercial real estate
1 — — 
Total$7 $1 $1 
Year Ended December 31, 2023
One-to-four family first mortgage$4 $— $4 
Total$4 $— $4 

We closely monitor the performance of loans in which modifications were made to borrowers experiencing financial difficulty to understand the effectiveness of modification efforts. For purposes of this disclosure a payment default is defined as 30 days or more past due.
The following tables provide a summary of loan balances which were modified during the prior twelve months, by class of financing receivable and delinquency status:

December 31, 2025Current30 - 89 Past Due90+ Past DueTotal
Commercial real estate
$6 $— $— $6 
One-to-four family first mortgage1—4142
Commercial and industrial—7—7
Total$7 $7 $41 $55 
December 31, 2024
Multi-family$2 $— $— $2 
Commercial real estate
8 — 4 12
One-to-four family first mortgage8 — 8 16
Commercial and industrial— — 4 4
Total$18 $— $16 $34 
December 31, 2023
Commercial real estate
$1 $— $— $1 
One-to-four family first mortgage3 — 8 11 
Commercial and industrial39113
Other Consumer11—2
Total$8 $10 $9 $27 
v3.25.4
Allowance for Credit Losses on Loans and Leases
 12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
Allowance for Credit Losses on Loans and Leases Allowance for Credit Losses on Loans and Leases
The following table summarizes activity in the ACL on loans and leases for the periods indicated:

Multi- Family
Commercial Real Estate(1)
One-to-Four Family First Mortgage
Commercial and Industrial
OtherTotal
Year Ended December 31, 2025
Balance, beginning of period$639 $304 $39 $150 $69 $1,201 
Charge-offs(285)(41)(4)(87)(32)(449)
Recoveries508—281298 
Provision for (recovery of) credit losses on loans and leases145(42)—5918180 
Balance, end of period$549 $229 $35 $150 $67 $1,030 
Year Ended December 31, 2024
Balance, beginning of period$307 $402 $47 $131 $105 $992 
Charge-offs(308)(466)(8)(136)(20)(938)
Recoveries58521746 
Provision for (recovery of) credit losses on loans and leases635360(5)134(23)1,101 
Balance, end of period$639 $304 $39 $150 $69 $1,201 
Year Ended December 31, 2023
Balance, beginning of period$178 $67 $46 $38 $64 $393 
Adjustment for Purchased PCD Loans———13—13 
Charge-offs(119)(56)(4)(30)(14)(223)
Recoveries———10515 
Provision for (recovery of) credit losses on loans and leases248391510050794 
Balance, end of period$307 $402 $47 $131 $105 $992 
(1)Includes ADC loans.

Interest rates remain high as compared to the interest rates in our existing portfolio, which continues to put pressure on the ability of certain borrowers with interest rates resetting to cover debt service. When combined with inflationary pressure on operating costs and limits on the ability to increase rental rates, debt service levels may approach or exceed some properties' net operating income, which increases the risk of loss.
The ACL to total loans and leases held for investment ratio as of December 31, 2025 and December 31, 2024 was 1.70 percent and 1.76 percent, respectively. We believe that higher interest rates for a longer period of time will have a more significant impact on our loans that will reprice during the reasonable and supportable forecast period. Therefore, we have continued to incorporate a higher probability of default for those loans approaching their scheduled repricing date in the measurement of our ACL.

The following table presents additional information about our non-accrual loans as of December 31, 2025:

Non-accrual loans with no related allowance:
Non-accrual loans with an allowance recorded:
Total non-accrual loans
Related Allowance
Multi-family$1,141 $1,120 $2,261 $99 
Commercial real estate(1)
319170489 60
One-to-four family first mortgage402464 2
Commercial and Industrial
3793130 32
Other
—3131 29
Total
$1,537 $1,438 $2,975 $222 
(1)Includes ADC loans.

The following table presents additional information about our non-accrual loans as of December 31, 2024:
Non-accrual loans with no related allowance:Non-accrual loans with an allowance recorded:
Total non-accrual loans
Related Allowance
Multi-family$1,092 $663 $1,755 $77 
Commercial real estate(1)
429135564 31
One-to-four family first mortgage61970 1
Commercial and Industrial
51151202 —
Other
32124 55
Total
$1,636 $979 $2,615 $164 
(1)Includes ADC loans.
v3.25.4
Leases, Premises and Equipment
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases, Premises and Equipment Leases, Premises and Equipment
Lessor Arrangements

We provide direct financing leases for equipment included in our commercial loan portfolio.

Interest income on lease financing is recorded over the lease term and recorded in Interest income - Loans and leases on the Consolidated Statements of (Loss) Income. The following table presents our interest income on lease financing:
Year Ended December 31,
202520242023
Interest income on lease financing
$93 $136 $119 

The components of our gross investment in direct financing leases are shown below:

December 31,
20252024
Lease payments receivable
$1,534 $2,039 
Unguaranteed residual assets (1)
266 285 
Gross investment in direct financing leases
$1,800 $2,324 
(1)The amount of residual value insurance in place at December 31, 2025 and December 31, 2024 was insignificant.
The following table presents the remaining maturity analysis of the undiscounted lease receivables, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition:

December 31, 2025
2026$445 
2027441 
2028279 
2029220 
2030145 
Thereafter270 
Gross investment in direct financing leases$1,800 
Plus: deferred origination costs27 
Less: unearned income(129)
Less: purchase accounting adjustment(28)
Less: other
(10)
Total lease finance receivables, net$1,660 

Lessee Arrangements
We have operating leases for offices, branches, equipment and other items, generally with terms of 20 years or less. Many of our leases contain options to extend or terminate early and we consider these options when evaluating the lease term to determine if they are reasonably certain to be exercised based on all relevant economic and financial factors.

At lease inception, lease liabilities are recognized in Other liabilities based on the present value of remaining lease payments, discounted using our incremental borrowing rate if no implicit rate in the lease is available. Right-of-use assets, recognized in Other assets, represent our right to use an underlying asset for the lease term and are initially equal to the lease liability, adjusted for any payments made prior to lease commencement and any lease incentives.

Variable costs such as the proportionate share of actual costs for utilities, common area maintenance, property taxes and insurance are not included in the lease liability and are recognized in the period in which they are incurred. Operating lease costs are recorded in Occupancy and Equipment on the Consolidated Statements of (Loss) Income and costs were as follows:
Year Ended December 31,
202520242023
Operating lease cost
$77 $75 $86 

Supplemental balance sheet information related to our operating lease arrangements is presented below:

December 31,
20252024
Operating Leases:
Operating lease right-of-use assets
$380 $416 
Operating lease liabilities
$427 $463 
Weighted average remaining lease term10.1 years10.7 years
Weighted average discount rate %4.79 %4.77 %
The table below presents the supplemental cash flow information related to the leases:

Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$76 $71 $64 
The following table presents the remaining maturity analysis of our lease liabilities, as well as the reconciliation to the total present value of the lease liability recorded in Other liabilities on the Consolidated Statements of Condition:
December 31, 2025
Maturities of lease liabilities:
2026$70 
202764 
202857 
202951 
203044 
Thereafter261 
Total lease payments$547 
Less: imputed interest(120)
Total present value of lease liabilities$427 

Premises and Equipment

The table below presents our Premises and equipment:
December 31,
20252024
Premises and equipment
$1,009 $1,131 
Less: Accumulated depreciation
(532)(569)
Premises and equipment, net
$477 $562 

The table below presents our Depreciation expense:
Year Ended December 31,
202520242023
Depreciation expense(1)
$41 $48 $39 
(1)Included in Occupancy and equipment expense in the Consolidated Statements of (Loss) Income.

In 2024, management approved the closure of certain PCG locations and retail branches which was a triggering event for potential impairment. We determined the value of the assets were not fully recoverable, determined the fair value and recorded an associated impairment of $46 million during the year ended 2024. Additionally, the Troy and Cleveland operational centers were classified as held for sale during 2024 and recorded at their fair value, resulting in a $31 million impairment expense included within Non-interest expense - General and administrative expenses.
Leases, Premises and Equipment Leases, Premises and Equipment
Lessor Arrangements

We provide direct financing leases for equipment included in our commercial loan portfolio.

Interest income on lease financing is recorded over the lease term and recorded in Interest income - Loans and leases on the Consolidated Statements of (Loss) Income. The following table presents our interest income on lease financing:
Year Ended December 31,
202520242023
Interest income on lease financing
$93 $136 $119 

The components of our gross investment in direct financing leases are shown below:

December 31,
20252024
Lease payments receivable
$1,534 $2,039 
Unguaranteed residual assets (1)
266 285 
Gross investment in direct financing leases
$1,800 $2,324 
(1)The amount of residual value insurance in place at December 31, 2025 and December 31, 2024 was insignificant.
The following table presents the remaining maturity analysis of the undiscounted lease receivables, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition:

December 31, 2025
2026$445 
2027441 
2028279 
2029220 
2030145 
Thereafter270 
Gross investment in direct financing leases$1,800 
Plus: deferred origination costs27 
Less: unearned income(129)
Less: purchase accounting adjustment(28)
Less: other
(10)
Total lease finance receivables, net$1,660 

Lessee Arrangements
We have operating leases for offices, branches, equipment and other items, generally with terms of 20 years or less. Many of our leases contain options to extend or terminate early and we consider these options when evaluating the lease term to determine if they are reasonably certain to be exercised based on all relevant economic and financial factors.

At lease inception, lease liabilities are recognized in Other liabilities based on the present value of remaining lease payments, discounted using our incremental borrowing rate if no implicit rate in the lease is available. Right-of-use assets, recognized in Other assets, represent our right to use an underlying asset for the lease term and are initially equal to the lease liability, adjusted for any payments made prior to lease commencement and any lease incentives.

Variable costs such as the proportionate share of actual costs for utilities, common area maintenance, property taxes and insurance are not included in the lease liability and are recognized in the period in which they are incurred. Operating lease costs are recorded in Occupancy and Equipment on the Consolidated Statements of (Loss) Income and costs were as follows:
Year Ended December 31,
202520242023
Operating lease cost
$77 $75 $86 

Supplemental balance sheet information related to our operating lease arrangements is presented below:

December 31,
20252024
Operating Leases:
Operating lease right-of-use assets
$380 $416 
Operating lease liabilities
$427 $463 
Weighted average remaining lease term10.1 years10.7 years
Weighted average discount rate %4.79 %4.77 %
The table below presents the supplemental cash flow information related to the leases:

Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$76 $71 $64 
The following table presents the remaining maturity analysis of our lease liabilities, as well as the reconciliation to the total present value of the lease liability recorded in Other liabilities on the Consolidated Statements of Condition:
December 31, 2025
Maturities of lease liabilities:
2026$70 
202764 
202857 
202951 
203044 
Thereafter261 
Total lease payments$547 
Less: imputed interest(120)
Total present value of lease liabilities$427 

Premises and Equipment

The table below presents our Premises and equipment:
December 31,
20252024
Premises and equipment
$1,009 $1,131 
Less: Accumulated depreciation
(532)(569)
Premises and equipment, net
$477 $562 

The table below presents our Depreciation expense:
Year Ended December 31,
202520242023
Depreciation expense(1)
$41 $48 $39 
(1)Included in Occupancy and equipment expense in the Consolidated Statements of (Loss) Income.

In 2024, management approved the closure of certain PCG locations and retail branches which was a triggering event for potential impairment. We determined the value of the assets were not fully recoverable, determined the fair value and recorded an associated impairment of $46 million during the year ended 2024. Additionally, the Troy and Cleveland operational centers were classified as held for sale during 2024 and recorded at their fair value, resulting in a $31 million impairment expense included within Non-interest expense - General and administrative expenses.
v3.25.4
Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2025
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights Mortgage Servicing Rights
We had investments in mortgage servicing rights that resulted from the sale of loans to the secondary market for which we retained the servicing. We accounted for mortgage servicing rights at their fair value. A primary risk associated with mortgage servicing rights is the potential reduction in fair value as a result of higher than anticipated prepayments due to loan refinancing prompted, in part, by declining interest rates or government intervention. Conversely, these assets generally increase in value in a rising interest rate environment to the extent that prepayments are slower than anticipated. We utilized derivatives as economic hedges to offset changes in the fair value of the mortgage servicing rights resulting from anticipated changes in prepayments stemming from changing interest rate environments. There is also a risk of valuation decline due to higher-than-expected default rates, which we do not believe can be effectively managed using derivatives. For further information regarding the derivative instruments utilized to manage our MSR risks, see Note 15 - Derivative and Hedging Activities.
As of December 31, 2024, we classified all remaining mortgage servicing rights as held for sale and completed the sale in the year ended December 31, 2025.

Changes in the fair value of residential first mortgage servicing rights ("MSRs") were as follows:

Year Ended December 31,
20242023
Balance at beginning of period$1,111 $1,033 
Additions from loans sold with servicing retained184 208 
Reductions from sales(1,194)(51)
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes, and other (1)
(105)(80)
Changes in estimates of fair value due to interest rate risk (1) (2)
30 1 
Fair value of MSRs at end of period$26 $1,111 
(1)Changes in fair value are included within net return on mortgage servicing rights on the Consolidated Statements of (Loss) Income.
(2)Represents estimated MSR value change resulting primarily from market-driven changes which we managed through the use of derivatives.

Contractual servicing and subservicing fees, including late fees and other ancillary income are presented below. Contractual servicing fees are included within Net return on mortgage servicing rights on the Consolidated Statements of (Loss) Income. Contractual subservicing fees including late fees and other ancillary income are included within Net loan administration (loss) income on the Consolidated Statements of (Loss) Income. Subservicing fee income is recorded for fees earned on subserviced loans, net of third-party subservicing costs.

The following table summarizes income and fees associated with owned mortgage servicing rights:

Year Ended December 31,
20242023
Net return on mortgage servicing rights
Servicing fees, ancillary income and late fees (1)
$202 $227 
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other(105)(80)
Changes in fair value due to interest rate risk30 1 
Gain on MSR derivatives (2)
(54)(47)
Net transaction costs— 2 
Total return (loss) included in net return on mortgage servicing rights$73 $103 
(1)Servicing fees are recorded on an accrual basis. Ancillary income and late fees are recorded on a cash basis.
(2)Changes in the derivatives utilized as economic hedges to offset changes in fair value of the mortgage servicing rights.


The following table summarizes income and fees associated with our mortgage loans subserviced for others:
Year Ended December 31,
20242023
Loan administration income on mortgage loans subserviced
Servicing fees, ancillary income and late fees (1)
$117 $154 
Charges on subserviced custodial balances (2)
(141)(168)
Other servicing charges2(3)
Total income (loss) on mortgage loans subserviced, included in loan administration income$(22)$(17)
(1)Servicing fees are recorded on an accrual basis. Ancillary income and late fees are recorded on a cash basis.
(2)Charges on subserviced custodial balances represent interest due to MSR owner.
For the year ended December 31, 2025, we earned no service fee income for loans serviced for the FDIC in connection with the Signature Transaction. For the years ended December 31, 2024 and 2023, we earned approximately $10 million and $95 million, respectively
v3.25.4
Variable Interest Entities
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities Variable Interest Entities
    
An entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and consolidates the VIE. An entity is deemed to have a controlling financial interest and is the primary beneficiary of a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.

We have no consolidated VIEs as of December 31, 2025 and December 31, 2024.
In connection with our non-qualified mortgage securitization activities, we have retained a five percent interest in the investment securities of certain trusts. Although we have a variable interest in these securitization trusts, we are not their primary beneficiary. As a result, we have not consolidated the assets and liabilities of the VIE in our Consolidated Statements of Condition. Our maximum exposure to loss is limited to our five percent retained interest in the investment securities that had a fair value of $159 million and $163 million as of December 31, 2025 and December 31, 2024, respectively, as well as the standard representations and warranties made in conjunction with the loan transfers.
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Statistical Disclosure for Banks [Abstract]  
Deposits Deposits
    
The following table is a summary of our deposits:

December 31,
20252024
Interest-bearing checking and money market accounts$18,233 $20,780 
Savings accounts14,864 14,282 
Certificates of deposit20,843 27,324 
Non-interest-bearing accounts12,060 13,484 
Total deposits$66,000 $75,870 

At December 31, 2025 and 2024, the aggregate amount of time deposit accounts (including certificates of deposit) that meet or exceed the insured limit was $6.3 billion and $12.6 billion, respectively.

At December 31, 2025 and 2024, the aggregate amount of deposits that had been reclassified as loan balances (i.e., overdrafts) was $30 million and $33 million, respectively.
v3.25.4
Borrowed Funds
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Borrowed Funds Borrowed Funds
The following table summarizes our borrowed funds:
December 31,
20252024
Short-term borrowings(1)
FHLB advances$4,000 $2,750 
Total short-term borrowings
$4,000 $2,750 
Long-term debt
FHLB advances
$7,151 $10,650 
Junior subordinated debentures585 582 
Subordinated notes448 444 
Total long-term debt
$8,184 $11,676 
Borrowed Funds
$12,184 $14,426 
Weighted average interest rate on short-term borrowings
3.92 %4.67 %
Weighted average interest rate on long-term debt
4.53 %4.94 %
(1)Borrowings with original maturities of one year or less are classified as short-term borrowings.
The following table summarizes our total interest expense:

Year Ended December 31,
202520242023
Interest expense on short-term borrowings
$110 $449 $370 
Interest expense on long-term debt
496 768 278 
Total interest expense(1)
$606 $1,217 $648 
(1)This excludes amortization expense of $7 million, $8 million, and $8 million during the years ended December 31, 2025, 2024 and 2023, respectively.

Accrued interest on Borrowed funds is included in Other liabilities in the Consolidated Statements of Condition and amounted to $39 million and $51 million, respectively, as of December 31, 2025 and December 31, 2024.

FHLB Advances

The contractual maturities and the next call dates of FHLB advances outstanding as of December 31, 2025 were as follows:
Contractual MaturityEarlier of Contractual Maturity or Next Call Date
Amount
Weighted Average Interest Rate
Amount
Weighted Average Interest Rate
2026$7,001 4.10 $7,250 4.08 
20271,500 3.91 1,500 3.91 
20282,400 4.40 2,400 4.40 
2032250 3.50 — — 
Total FHLB advances$11,151 $11,150 

FHLB advances include fixed-rate advances, floating rate advances and advances under the FHLB convertible advance program, which gives the FHLB the option of either calling the advance after an initial lock-out period of up to five years and quarterly thereafter until maturity, or a one-time call at the initial call date.

We maintain access to secured borrowings from the FHLB and FRB-NY Discount Window. Our FHLB available capacity has been expanded from overnight funding to 12-month tenor on new and rollover of existing advances. We pledge eligible loan and securities collateral with the FRB-NY Discount Window and FHLB New York to support borrowing capacity. The available borrowing capacity with the FRB-NY Discount Window and the FHLB, net of credit utilization primarily in the form of advances and letters of credit, was $8.3 billion and $7.0 billion at December 31, 2025 and 2024, respectively.

Junior Subordinated Debentures

We had $610 million at December 31, 2025 and December 31, 2024, of outstanding junior subordinated deferrable interest debentures (“junior subordinated debentures”) held by statutory business trusts that issued guaranteed capital securities, excluding purchase accounting adjustments.
The following table presents contractual terms of the junior subordinated debentures outstanding as of December 31, 2025:
IssuerInterest Rate of Capital Securities and Debentures
Junior Subordinated Debentures Amount Outstanding
Capital Securities Amount OutstandingDate of Original IssueStated Maturity
New York Community Capital Trust V (BONUSES Units) (1)
6.00 %$148 $142 November 04, 2002November 01, 2051
New York Community Capital Trust X (2)
5.58 %124 120 December 14, 2006December 15, 2036
PennFed Capital Trust III (2)
7.23 %31 30 June 02, 2003June 15, 2033
New York Community Capital Trust XI (2)
5.60 %59 58 April 16, 2007June 30, 2037
Flagstar Statutory Trust II (2)(3)
7.20 %26 25 December 26, 2002December 26, 2032
Flagstar Statutory Trust III (2)(3)
7.42 %26 25 February 19, 2003April 7, 2033
Flagstar Statutory Trust IV (2)(3)
7.20 %26 25 March 19, 2003March 19, 2033
Flagstar Statutory Trust V (2)(3)
6.17 %26 25 December 29, 2004January 07, 2035
Flagstar Statutory Trust VI (2)(3)
6.17 %26 25 March 30, 2005April 7, 2035
Flagstar Statutory Trust VII (2)(3)
5.73 %51 50 March 29, 2005June 15, 2035
Flagstar Statutory Trust VIII (2)(3)
5.67 %26 25 September 22, 2005October 7, 2035
Flagstar Statutory Trust IX (2)(3)
5.43 %26 25 June 28, 2007September 15, 2037
Flagstar Statutory Trust X (2)(3)
6.48 %15 15 August 31, 2007September 15, 2037
Total junior subordinated debentures
$610 $590 
(1)Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002.
(2)Callable at any time.
(3)Excludes Flagstar Bancorp acquisition fair value adjustments of $25 million, which amortizes over the contractual term.

The Bifurcated Option Note Unit SecuritiESSM (“BONUSES units”) were issued by us on November 4, 2002, at a public offering price of $50.00 per share, with a total of 5,500,000 units sold, raising $275 million. Each BONUSES unit consisted of a capital security issued by New York Community Capital Trust V, a trust formed by the Bank, and a warrant to purchase shares of the Bank's common stock. The capital securities offered a 6 percent coupon rate, with a maturity of 49 years.

The $275 million raised was allocated between the capital security and the warrant based on their relative values at issuance, with $92 million assigned to the warrants and $183 million assigned to the capital securities. The $92 million discount on the capital securities is being amortized over the 49-year life of the securities, unless converted. As of December 31, 2025, the outstanding principal balance of the securities was $212 million, and the remaining discount was $64 million.

The other remaining trust preferred securities noted in the preceding table were formed for the purpose of issuing Company Obligated Mandatorily Redeemable Capital Securities of Subsidiary Trusts Holding Solely Junior Subordinated Debentures (collectively, the “Capital Securities”). Dividends on the Capital Securities are payable either quarterly or semi-annually and can be deferred for up to 5 years. As of December 31, 2025, all dividends on these securities were current.

Interest expenses on junior subordinated debentures for the years ended December 31, 2025, 2024, and 2023 was $44 million, $49 million, and $48 million, respectively.

Subordinated Notes

As of December 31, 2025 and December 31, 2024, we had a total of $448 million and $444 million, respectively, of fixed-to-floating rate subordinated notes outstanding:
Date of Original IssueStated MaturityInterest RateOriginal Issue Amount
(1)
November 6, 2018November 6, 20286.928%$300
(2)
October 28, 2020November 1, 20307.764%$150
(1)The interest rate will reset quarterly to an annual interest rate equal to the then-current three-month SOFR plus 304.16 basis points payable quarterly.
(2)The Notes will bear a variable rate tied to SOFR thereafter until maturity. We have the option to redeem all or a part of the Notes beginning on November 1, 2025, and on any subsequent interest payment date.
v3.25.4
Federal, State, and Local Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Federal, State, and Local Taxes Federal, State, and Local Taxes
    
The following table summarizes the components of our net deferred tax asset (liability):

December 31,
20252024
Deferred Tax Assets:
Allowance for credit losses on loans and leases$273 $314 
Acquisition accounting and fair value adjustments on securities (including OTTI)133177 
Right of use liability
113121 
Non-accrual interest 7011 
Compensation and related benefit obligations4754 
Other2927 
Unrealized gains and amortization of mortgage servicing rights
—26 
Accrued expenses
1516 
Net operating loss carryforwards812 
Gross deferred tax assets$688 $758 
Valuation allowance$(4)$(4)
Net deferred tax asset after valuation allowance$684 $754 
Deferred Tax Liabilities:
Leases$(281)$(315)
Fair value adjustments on loans(161)(198)
Right of use asset
(101)(109)
Amortizable intangibles(72)(95)
Prepaid pension cost(44)(37)
Premises and equipment(38)(29)
Other(22)(14)
Acquisition accounting and fair value adjustments on debt(7)(8)
Gross deferred tax liabilities$(726)$(805)
Net deferred tax liability$(42)$(51)

Our net deferred tax liability represents the anticipated federal, state, and local tax expenses or benefits that are expected to be realized in future years upon the utilization of the underlying tax attributes comprising said balances. As of December 31, 2025, a deferred tax asset of $22 million is reported in Other assets and a deferred tax liability of $64 million is reported in Other liabilities in the Consolidated Statements of Condition.
We evaluate the need for a deferred tax asset valuation allowance based on a more likely than not standard. Our evaluation is based on our history of reporting positive taxable income in all relevant tax jurisdictions, the length of time available to utilize the net operating loss carryforwards, and the recognition of taxable income in future periods from taxable temporary differences.
At December 31, 2025, we had a state deferred tax asset for net operating losses of $8 million (net of federal tax impact) related to total state net operating loss carryforwards of $172 million at December 31, 2025, that expire if unused by 2033. In connection with our ongoing assessment of deferred taxes, we analyzed each state net operating loss separately, determined the amount of net operating loss available and estimated the amount that we expected to expire unused. Based on this assessment, we maintained a valuation allowance of $4 million as of December 31, 2025 and 2024.
The following table presents our income tax (benefit)/expense:

Year Ended December 31,
202520242023
Federal – current$26 $126 $156 
State and local – current16 25 59 
Total current42 151 215 
Federal – deferred(45)(336)(137)
State and local – deferred(18)(75)(49)
Total deferred(63)(411)(186)
Income tax (benefit)/expense reported in net income
(21)(260)29 
Income tax impact reported in stockholders’ equity related to:
Securities available-for-sale66 (24)15 
Pension liability adjustments5 (2)6 
Cash flow hedge(17)12 (14)
Total income taxes$33 $(274)$36 

The following table presents a reconciliation of statutory federal income tax (benefit)/expense to income tax (benefit)/expense reported in net income for the periods indicated:
Year Ended December 31,
202520242023
Statutory federal income tax at 21%
$(42)21.0 %$(289)20.9 %$(10)21.0 %
State and local income taxes, net of federal income tax effect(1)
(2)1.1 %(39)2.9 %8 (16.5)%
Federal tax credits(7)3.4 %(14)1.0 %(31)63.8 %
Nontaxable or nondeductible items
Non-deductible FDIC deposit insurance premiums37 (18.8)%66 (4.8)%16 (33.0)%
Non-taxable or deductible bargain gain— — %25 (1.8)%(447)909.0 %
Non-taxable expense of bank-owned life insurance(10)5.2 %(9)0.7 %(9)18.5 %
Tax exempt income (8)4.2 %(8)0.6 %(6)11.3 %
Effect of tax deductibility of deferred compensation3 (1.4)%3 (0.2)%(3)6.2 %
Non-deductible executive compensation7 (3.5)%— — %— — %
Non-deductible goodwill impairment— — %— — %509 (1035.1)%
Other
— — %6 (0.5)%— (0.8)%
Other, net1 (0.6)%(1)0.1 %2 (4.0)%
Total income tax (benefit)/expense
$(21)10.6 %$(260)18.9 %$29 (59.6)%
(1)States taxes in the following states made up the majority of the category or greater than 50% of the tax effected category:
2025-New York State, New York City, New Jersey, California and Texas
2024-New York State and New York City
2023-New York State, New York City, New Jersey, California, Georgia, Illinois, Florida, Virginia and Arizona

We invest in affordable housing projects through limited partnerships that generate federal low income housing tax credits. The balances of these investments, which are included in Other assets in the Consolidated Statements of Condition, were $296 million and $335 million, respectively, at December 31, 2025 and 2024. We elected to apply the proportional amortization method to these investments. Recognized in the determination of income tax (benefit) expense from operations for the years ended December 31, 2025, 2024, and 2023 were $46 million, $41 million, and $34 million, respectively, of affordable housing tax credits and other tax benefits, and an offsetting $39 million, $37 million, and $30 million, respectively, for the amortization of the related investments. No impairment losses were recognized in relation to these investments for the years ended December 31, 2025, 2024, and 2023.
The amount of income taxes paid (net of refunds) is as follows:

Year Ended December 31,
202520242023
US Federal
$— $(8)$9 
US State and Local
State Taxes:
New York State
10 9 13 
New Jersey
(1)1 (2)
California
*1 8 
Illinois
*1 2 
Florida
*2 2 
Maryland
*1 *
Massachusetts
*1 *
Texas
2 2 *
Indiana
*1 1 
Other
— 4 11 
Local Taxes:
New York City
2 **
Total state and local
$13 $23 $35 
Total $13 $15 $44 
*The amount of income taxes paid during the year does not meet the 5% disaggregation threshold.

At of December 31, 2025 and 2024, we had $43 million of unrecognized gross tax benefits. Gross tax benefits do not reflect the federal tax effect associated with state tax amounts. The total amount of net unrecognized tax benefits that would have effected the effective tax rate, if recognized, was $35 million and $34 million at December 31, 2025 and 2024, respectively.
Interest and penalties related to the underpayment of income taxes are classified as a component of Income tax (benefit)/ expense in the Consolidated Statements of (Loss) Income. During the years ended December 31, 2025, 2024, and 2023, we recognized income tax expense attributed to interest and penalties of $9 million, $8 million, and $8 million, respectively. Accrued interest and penalties on tax liabilities were $51 million and $42 million, respectively, as of December 31, 2025 and 2024.

The following table summarizes changes in the liability for unrecognized gross tax benefits:

Year Ended December 31,
202520242023
Uncertain tax positions at beginning of year$43 $42 $40 
Additions for tax positions relating to current-year operations1 1 1 
Additions for tax positions relating to prior tax years— — 2 
Subtractions for tax positions relating to prior tax years(1)— (1)
Uncertain tax positions at end of year$43 $43 $42 

We file tax returns in many states. Generally, the tax returns are open by statue for years 2022 through present, unless extended due to examination.
The following notable income tax filings are currently under examination:

Jurisdiction
Period
Federal income tax
2019-2021
New York State income tax
2010-2021
New York City income tax
2011-2014, 2016-2021
Illinois income tax
2018-2019, 2020-2023
California
2021-2022
We are subject to a special federal tax provision regarding our frozen tax bad debt reserve. At December 31, 2025, our federal tax bad debt base-year reserve was $62 million, with a related federal deferred tax liability of $13 million which has not been recognized since we do not expect that this reserve will become taxable in the foreseeable future. Events that would result in taxation of this reserve include redemptions of our stock or certain excess distributions by us.
v3.25.4
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
We issue stock-based compensation in the form of RSUs and stock options through the Flagstar Bank, N.A. 2020 Omnibus Incentive Plan. Additionally, we have also granted one-time stock options as employment inducement awards to certain key executives in accordance with Rule 303A.08 of the NYSE. As of December 31, 2025, we have authorized 7,864,135 shares available for grant.

The following table presents total stock-based compensation expense and the related tax benefit for the periods indicated:

Year Ended December 31,
202520242023
Stock-based compensation expense
$61 $54 $48 
Tax benefit
11912

Restricted Stock

During the year ended December 31, 2025, we granted 5,218,859 shares of restricted stock, which vest over a one to three year period, with an average fair value of $11.57 per share on the date of grant, during the year ended 2025.

The following table summarizes RSU activity for the period indicated:

Year Ended December 31, 2025
Number of Restricted Stock Awards
Weighted-Average Grant Date Fair Value
Unvested as of January 1, 2025
7,621,331$17.20 
Granted(1)
5,218,85911.57 
Vested(1,962,003)16.48 
Forfeited(3,761,901)14.76 
Unvested as of December 31, 2025
7,116,28614.48 
(1)The number of shares granted during the year ended December 31, 2024 and 2023 were 5,280,114 and 9,995,495, respectively with an average fair value of $10.23 and $10.24 per share on the date of grant, respectively.

As of December 31, 2025, unrecognized compensation cost relating to unvested restricted stock totaled $69 million. This amount will be recognized over a remaining weighted average period of 1.9 years.
Stock Options
The following table summarizes stock option activity for the period indicated:

Year Ended December 31, 2025
Stock Options
Number of Options
Weighted-
Average
Exercise Price per Share
Outstanding as of January 1, 2025
12,083,000$8.69 
Granted—— 
Vested
(5,000,000)8.73 
Forfeited
(1,000,000)9.21 
Unvested as of December 31, 2025
6,083,0008.41 
Exercisable as of December 31, 2025
6,250,000
As of December 31, 2025, the remaining amount of unamortized compensation expense relating to stock options totaled $26 million and will be recognized over a remaining weighted average period of 1.4 years.
v3.25.4
Derivative and Hedging Activities
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative and Hedging Activities Derivative and Hedging Activities
The following tables set forth information regarding our derivative financial instruments:

December 31, 2025December 31, 2024
Fair ValueFair Value
Notional AmountOther AssetsOther LiabilitiesExpiration DatesNotional AmountOther AssetsOther LiabilitiesExpiration Dates
Derivatives designated as hedging instruments:
Interest rate swaps (fair value hedge)
$3,993 $— $— 2027-2029$— $— $— 
Derivatives not designated as hedging instruments:
Rate lock commitments
$241 $4 $1 2026 $563 $3 $3 2025 
Mortgage-backed securities forwards203 — 1 2026 344 7 2 2025 
Interest rate swaps
3,926 19 21 2025-20273,323 15 30 2024-2041
Interest rate caps
2,000 3 — 2028 — — — 

During the year ended 2024, we terminated interest rate swaps with a notional value of $5.5 billion that were designated as a cash flow hedge associated with FHLB advances. During the year ended December 31, 2025 and 2024, we repaid $2.0 billion and $2.8 billion, respectively, of FHLB advances that were associated with the terminated interest rate swaps resulting in us reclassifying $20 million and $28 million of net unrealized gains, respectively, out of AOCL and into interest expense.

The following amounts were recorded in the Consolidated Statements of Condition related to items designated and qualifying as hedged items in a fair value hedging relationship:

December 31, 2025December 31, 2024
 Carrying Amount of Hedged Items  Cumulative Amount of Fair Value Hedging Adjustments Carrying Amount of Hedged Items Cumulative Amount of Fair Value Hedging Adjustments
U.S. treasury obligations$1,016 $14 $— $— 
GSE CMOs1,957 7 — — 
GSE debentures1,297 10 — — 
Debt securities available-for-sale(1)
$4,270 $31 $— $— 
Loans and leases held-for-investment(2)
$5,073 $(2)$5,861 $(18)
(1)During the year ended 2025, 2024, and 2023, the amount recorded in Interest income - Securities and money market investments in the Consolidated Statement of Income was immaterial.
(2)Relates to hedges on multi-family loans that were discontinued in 2024. During the year ended 2025, 2024, and 2023, the amount recorded to Interest income - Loans and leases in the Consolidated Statement of Income was $13 million, $30 million, and $24 million, respectively.
The tables below present the gross derivative assets and liabilities, and the related cash pledged as collateral as of December 31, 2025 and 2024. No amounts were netted in the Consolidated Statements of Condition.

December 31, 2025
Gross Amounts Not Offset in the Statements of Condition
Financial InstrumentsCash Collateral Pledged (Received)
Derivatives designated hedging instruments:
Interest rate swaps
$— $76 
Derivatives not designated as hedging instruments:
Assets
Interest rate swaps
19 — 
Total derivative assets$19 $— 
Liabilities
Mortgage-backed securities forwards$1 $1 
Interest rate swaps
21 34 
Total derivative liabilities$22 $35 

December 31, 2024
Gross Amounts Not Offset in the Statements of Condition
Financial InstrumentsCash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Mortgage-backed securities forwards$7 $(2)
Interest rate swaptions15 (3)
Total derivative assets$22 $(5)
Liabilities
Mortgage-backed securities forwards$2 $10 
Interest rate swaps
30 47 
Total derivative liabilities$32 $57 
Derivatives not Designated as Hedging Instruments

The following table presents the net gain (loss) recognized in income on derivatives not designated as hedging instruments, net of the impact of offsetting positions:

Year Ended December 31,
202520242023
Derivatives not designated as hedging instruments:
Location of Gain (Loss)
FuturesNet return on mortgage servicing rights$— $2 $1 
Interest rate swaps and swaptionsNet return on mortgage servicing rights— (38)(34)
Mortgage-backed securities forwardsNet return on mortgage servicing rights— (18)(15)
Rate lock and Forward commitments
Net gain on loan sales and securitizations
(3)23 2 
Interest rate swaps (1)
Fee income
4 — — 
Interest rate swaps (1)
Other non-interest income— — (1)
Total derivative (loss) gain$1 $(31)$(47)
(1) Includes customer-initiated commercial interest rate swaps.

The following table provides a reconciliation of cash, cash equivalents and restricted cash within the Consolidated Statements of Condition that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows:
December 31,

20252024
Cash and due from banks$553 $434 
Interest-earning deposits and other securities with financial institutions5,341 14,996 
Restricted cash included in other assets
83 129 
Total
$5,977 $15,559 
v3.25.4
Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible Assets

As of December 31, 2025 and December 31, 2024, intangible assets consisted of the following:

December 31, 2025December 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Core deposit intangible$700 $(332)$368 $700 $(229)$471 
Other intangible assets21(8)1326(9)17
Core deposit and other intangibles
$721 $(340)$381 $726 $(238)$488 

The following table presents our amortization expense for the periods indicated:

Year Ended December 31,
202520242023
Amortization expense
$107 $136 $126 
For the years ended December 31, 2025 and 2024, the weighted average amortization period for our CDI and other intangible assets is seven years and five years, respectively.

The estimated amortization expense of our CDI and other intangible assets for the next five years and beyond is as follows:

Amortization Expense
2026$93 
202780 
202868 
202955 
203041 
2031 and beyond44 
Total$381 

Goodwill

Our 2023 assessment concluded that goodwill from historical transactions was fully impaired as of December 31, 2023. As a result, we recorded an impairment charge of the entire goodwill balance of $2.4 billion in the year ended December 31, 2023.
v3.25.4
Capital
 12 Months Ended
Dec. 31, 2025
Broker-Dealer [Abstract]  
Capital Capital
We are subject to regulation, examination, and supervision by the OCC. We are also governed by numerous federal and state laws and regulations, including the FDIC Improvement Act of 1991, which established five categories of capital adequacy ranging from “well capitalized” to “critically undercapitalized.” Such classifications are used by the FDIC to determine various matters, including prompt corrective action and each institution’s FDIC deposit insurance premium assessments. Capital amounts and classifications are also subject to the regulators’ qualitative judgments about the components of capital and risk weightings, among other factors.

The quantitative measures established to ensure capital adequacy require that banks maintain minimum amounts and ratios of leverage capital to average assets and of common equity tier 1 capital, tier 1 capital, and total capital to risk-weighted assets (as such measures are defined in the regulations). As of December 31, 2025 and 2024, our capital measures continued to exceed the minimum federal requirements, and as a result we are categorized as "Well Capitalized."

The following table sets forth our common equity tier 1, tier 1 risk-based, total risk-based, and leverage capital amounts and ratios, as well as the respective minimum regulatory capital requirements, at that date:

Risk-Based Capital
Common Equity Tier 1Tier 1TotalLeverage Capital
December 31, 2025AmountRatioAmountRatioAmountRatioAmountRatio
Actual capital
$7,845 12.83 %$8,348 13.66 %$9,921 16.23 %$8,348 9.22 %
Minimum for capital adequacy purposes2,751 4.50 3,668 6.00 4,890 8.00 3,623 4.00 
Excess$5,094 8.33 %$4,680 7.66 %$5,031 8.23 %$4,725 5.22 %
December 31, 2024
Actual capital
$7,997 11.83 %$8,501 12.57 %$10,238 15.14 %$8,501 7.68 %
Minimum for capital adequacy purposes3,043 4.50 4,057 6.00 5,409 8.00 4,428 4.00 
Excess$4,954 7.33 %$4,444 6.57 %$4,829 7.14 %$4,073 3.68 %
v3.25.4
Fair Value Measurement
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The following tables present assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2025 and December 31, 2024, and that were included in the Consolidated Statements of Condition at those dates:

December 31, 2025
Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)(1)
Total Fair Value
Assets:
Mortgage-related debt securities available-for-sale:
GSE CMOs$— $11,824 $— $11,824 
GSE certificates— 999 — 999 
Private label CMOs— 136 23 159 
Total mortgage-related debt securities$— $12,959 $23 $12,982 
Other debt securities available-for-sale:
GSE debentures$— $1,296 $— $1,296 
U. S. Treasury obligations1,017 — — 1,017 
Asset-backed securities— 213 — 213 
Corporate bonds— 144 — 144 
Municipal bonds, foreign notes, and capital trust
— 49 — 49 
Total other debt securities$1,017 $1,702 $— $2,719 
Total debt securities available-for-sale
$1,017 $14,661 $23 $15,701 
Equity securities:
Mutual funds and common stock$51 $14 $— $65 
Total equity securities$51 $14 $— $65 
Total securities$1,068 $14,675 $23 $15,766 
Loans held for sale
Residential first mortgage loans$— $193 $— $193 
Commercial real estate(2)
— 48 — 48 
Derivative assets
Interest rate swaps
— 19 — 19 
Rate lock commitments (fallout adjustments)
— — 4 4 
Interest rate caps
— 3 — 3 
Total assets at fair value$1,068 $14,938 $27 $16,033 
Derivative liabilities
Interest rate swaps
$— $21 $— $21 
Rate lock commitments
— — 1 1 
Mortgage-backed securities forwards— 1 — 1 
Total liabilities at fair value$— $22 $1 $23 
(1)The change in the fair value due to significant unobservable inputs was immaterial.
(2)Includes ADC loans.
December 31, 2024
Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total Fair Value
Assets:
Mortgage-related debt securities available-for-sale:
GSE CMOs$— $7,304 $— $7,304 
GSE certificates— 1,106 — 1,106 
Private label CMOs— 130 33 163 
Total mortgage-related debt securities$— $8,540 $33 $8,573 
Other debt securities available-for-sale:
GSE debentures$— $1,203 $— $1,203 
Corporate bonds—308—308 
Asset-backed securities—236—236 
Municipal bonds, foreign notes, and capital trust
—82—82 
Total other debt securities$— $1,829 $— $1,829 
Total debt securities available-for-sale
$— $10,369 $33 $10,402 
Equity securities:
Mutual funds and common stock$— $14 $— $14 
Total equity securities$— $14 $— $14 
Loans held for sale
One-to-four family first mortgage$— $382 $— $382 
Commercial real estate(1)
—182 —182 
Derivative assets
Interest rate swaps— 15 — 15 
Mortgage-backed securities forwards— 7 — 7 
Rate lock commitments (fallout adjustments)
— — 3 3 
Mortgage servicing rights— — 26 26 
Total assets at fair value$— $10,969 $62 $11,031 
Derivative liabilities
Interest rate swaps and swaptions$— $30 $— $30 
Rate lock commitments— — 3 3 
Mortgage-backed securities forwards— 2 — 2 
Total liabilities at fair value$— $32 $3 $35 
(1)Includes ADC loans.

Fair Value Measurements Using Significant Unobservable Inputs

The following tables include a roll forward of the Consolidated Statements of Condition amounts (including the change in fair value) for financial instruments classified by us within Level 3 of the valuation hierarchy:

Balance at Beginning of Year
Total Gains / (Losses) Recorded in Earnings (1)
Purchases / OriginationsSalesTransfers In (Out)Balance at End of Year
Year Ended December 31, 2024
Assets
Mortgage servicing rights (1)
$1,111 $(75)$184 $(1,194)$— $26 
Private Label collateralized mortgage obligations32 1 — — — 33 
Rate lock commitments (net) (1)(2)
9 5 57 — (71)— 
Totals$1,152 $(69)$241 $(1,194)$(71)$59 
(1)We utilized swaptions, futures, forward agency and loan sales and interest rate swaps to manage the risk associated with mortgage servicing rights and rate lock commitments. Gains and losses for individual lines do not reflect the effect of our risk management activities related to such Level 3 instruments.
(2)Rate lock commitments are reported on a fallout-adjusted basis. Transfers out of Level 3 represent the settlement value of the commitments that are transferred to loans held for sale, which are classified as Level 2 assets.
Assets Measured at Fair Value on a Non-Recurring Basis

The following tables present assets that were measured at fair value on a non-recurring basis as of December 31, 2025 and December 31, 2024:

Fair Value Measurements as of December 31, 2025 Using
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair Value
Loans held for investment(1)
$— $— $2,784 $2,784 
Loans held for sale— 24 — 24 
Other assets(2)
— — 31 31 
Total$— $24 $2,815 $2,839 
(1)Represents the fair value of impaired loans, based primarily on the value of the collateral less costs to sell.
(2)Primarily comprised of equity securities without readily determinable fair values.

Fair Value Measurements as of December 31, 2024 Using
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair Value
Loans held for investment(1)
$— $— $2,469 $2,469 
Loans held for sale— 335 — 335 
Other assets(2)
— — 52 52 
Total$— $335 $2,521 $2,856 
(1)Represents the fair value of impaired loans, based primarily on the value of the collateral less costs to sell.
(2)Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity securities without readily determinable fair values. These equity securities are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.
The fair values of collateral-dependent loans are determined using various valuation techniques, including appraisal values less costs to sell or other observable market data

Other Fair Value Disclosures
For the disclosure of fair value information about our on- and off-balance sheet financial instruments, when available, quoted market prices are used as the measure of fair value. In cases where quoted market prices are not available, fair values are based on present-value estimates or other valuation techniques. Such fair values are significantly affected by the assumptions used, the timing of future cash flows, and the discount rate.
Because assumptions are inherently subjective in nature, estimated fair values cannot be substantiated by comparison to independent market quotes. Furthermore, in many cases, the estimated fair values provided would not necessarily be realized in an immediate sale or settlement of such instruments.
The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Bank’s Consolidated Statements of Condition:

December 31, 2025
Fair Value Measurement Using
Carrying ValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents$5,894 $5,894 $5,894 $— $— 
FHLB and FRB stock (1)
973 973 — 973 — 
Loans and leases held for investment, net(2)
59,702 56,605 — — 56,605 
Financial Liabilities:
Deposits$66,000 $65,991 $45,157 
(3)
$20,834 
(4)
$— 
Borrowed funds12,184 11,972 — 11,972 — 
(1)Carrying value and estimated fair value are at cost.
(2)Carrying value and estimated fair value include impaired loans held for investment.
(3)Includes interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
(4)Includes CDs.

December 31, 2024
Fair Value Measurement Using
Carrying ValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents$15,430 $15,430 $15,430 $— $— 
FHLB and FRB stock (1)
1,146 1,146 — 1,146 — 
Loans and leases held for investment, net(2)
67,071 61,831 — — 61,831 
Financial Liabilities:
Deposits$75,870 $75,894 $48,546 
(3)
$27,348 
(4)
$— 
Borrowed funds14,426 14,217 — 14,217 — 
(1)Carrying value and estimated fair value are at cost.
(2)Carrying value and estimated fair value include impaired loans held for investment.
(3)Includes interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
(4)Includes CDs.

The methods and significant assumptions used to estimate fair values for our financial instruments are described below:

Cash and Cash Equivalents
Cash and cash equivalents include cash and due from banks and federal funds sold. The estimated fair values of cash and cash equivalents are assumed to equal their carrying values, as these financial instruments are either due on demand or have short-term maturities.

Federal Home Loan Bank Stock
Ownership in equity securities of the FHLB is generally restricted and there is no established liquid market for their resale; therefore the estimated fair value of the FHLB securities is assumed to equal their carrying value.

Loans and leases
We disclose the fair value of loans measured at amortized cost using an exit price notion. We determine the fair value on substantially all of our loans for disclosure purposes, on an individual loan basis. The discount rates reflect current market rates for loans with similar terms to borrowers having similar credit quality on an exit price basis.
Deposits

The fair values of deposit liabilities with no stated maturity (i.e., interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts) are equal to the carrying amounts payable on demand. The fair values of CDs represent contractual cash flows, discounted using interest rates currently offered on deposits with similar characteristics and remaining maturities. These estimated fair values do not include the intangible value of core deposit relationships, which comprise a portion of our deposit base.

Borrowed Funds
The estimated fair value of borrowed funds is based either on bid quotations received from securities dealers or the discounted value of contractual cash flows with interest rates currently in effect for borrowed funds with similar maturities and structures.

Fair Value Option
We elected the fair value option for certain items as discussed throughout the Notes to the Consolidated Financial Statements to more closely align the accounting method with the underlying economic exposure.
The following table reflects the change in fair value included in earnings of financial instruments for which the fair value option has been elected:
Year Ended December 31,
202520242023
Assets
Loans held for sale
Net gain on loan sales$26 $47 $43 

The following table reflects the difference between the aggregate fair value and aggregate remaining contractual principal balance outstanding for assets and liabilities for which the fair value option has been elected:

December 31,
20252024
Unpaid Principal BalanceFair ValueFair Value Over / (Under) UPBUnpaid Principal BalanceFair ValueFair Value Over / (Under) UPB
Assets:
Non-accrual loans:
Loans held for sale
$6 $7 $1 $4 $4 $— 
Total non-accrual loans$6 $7 $1 $4 $4 $— 
Accrual loans:
Loans held for sale
$230 $234 $4 $553 $560 $7 
Loans held for investment— — — 67 66 (1)
Total accrual loans
$230 $234 $4 $620 $626 $6 
Total loans:
Loans held for sale
$236 $241 $5 $557 $564 $7 
Loans held for investment— — — 67 66 (1)
Total loans$236 $241 $5 $624 $630 $6 
v3.25.4
Mezzanine and Stockholders' Equity
 12 Months Ended
Dec. 31, 2025
Temporary Equity Disclosure [Abstract]  
Mezzanine and Stockholders' Equity Mezzanine and Stockholders' Equity
December 31, 2025
December 31,
Preferred Stock Series
Shares Authorized (1)
Shares Issued (2)
Shares Outstanding (3)
Par ValueLiquidation Preference Per Share20252024
6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A
5,000,000 515,000 515,000 $0.01 $1,000 $503 $503 
Fixed Rate Perpetual Noncumulative Convertible Series B
267,062 192,062 750 $0.01 $— 1 1 
13.00% Fixed Rate Perpetual Noncumulative Convertible Series C
523,369 — — $0.01 $2,000 $— $— 
Non-Voting Common Equivalent Series D
315,000 45 15 $0.01 $0.0001 $— $— 
(1)As of December 31, 2024, we authorized 5,000,000 shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 267,062 shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, 523,369 shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 315,000 shares of Non-Voting Common Equivalent Series D stock.
(2)As of December 31, 2024, we issued 515,000 shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 192,062 shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, 256,307 shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 45 shares of Non-Voting Common Equivalent Series D stock.
(3)As of December 31, 2024, there were 515,000 outstanding shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 750 outstanding shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, no outstanding shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 15 outstanding shares of Non-Voting Common Equivalent Series D stock.

Series A Preferred stock

Each Series A preferred depositary share represents 1/40th interest in a share of our Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). Dividends accrue on the shares at a fixed rate equal to 6.375 percent per annum until March 17, 2027, and a floating rate equal to three-month SOFR plus 408.26 basis points per annum beginning on March 17, 2027. Dividends are payable in arrears on March 17, June 17, September 17, and December 17 of each year, which commenced on June 17, 2017. For the years ended December 31, 2025 and 2024, we paid $33 million and $33 million, respectively, of dividends on our Series A preferred stock.

Series B Preferred Stock

As of December 31, 2025, the outstanding shares of Series B Noncumulative Convertible Preferred Stock (the "Series B Preferred Stock") represented the right (on an as-converted basis) to receive approximately 250 thousand shares of our common stock. Series B Preferred Stock shareholders do not have voting rights, except in limited circumstances.

The Series B Preferred Stock is classified in mezzanine equity as it is contingently convertible into shares of preferred stock that are redeemable for cash, contingent on events that are not solely in our control. The Series B Preferred Stock is not remeasured because it is currently not probable that it will become redeemable. For the years ended December 31, 2025 and 2024, we paid an immaterial amount of dividends on our Series B preferred stock.

Warrants

Warrants to purchase shares of Series D NVCE Stock, par value $0.01 per share, for an initial exercise price of $2,500 per share (collectively, the "Warrants"), were issued in conjunction with the March 2024 capital raise. The Warrants were not exercisable until September 10, 2024 and expire 7 years after issuance. Pursuant to the terms of the Warrants, as a result of the dividend paid on shares of our common stock, the exercise price of the Warrants was reduced to $2,479.42 as of December 31, 2025 ($7.43 per common share assuming full conversion). At the time of issuance, the Warrants entitled the holders thereof to receive an aggregate of 315 thousand shares of Series D NVCE Stock (subject to net settlement of shares) upon exercise of the Warrants. Series D NVCE Stock is convertible into common stock at a conversion rate of 333 common shares per one share of Series D NVCE or approximately 105 million shares of common stock.
Treasury Stock Repurchases

As of December 31, 2025, we have repurchased a total of 10 million shares of our common stock at an average price of $28.60 or an aggregate purchase price of $286 million. As a result of the Reorganization, no share repurchase programs are active as of December 31, 2025.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Loan Commitments and Letters of Credit

In the normal course of business, we have various commitments outstanding to extend credit in the form of loan originations, as well as commercial, performance and financial stand-by letters of credit, which are not included on our Consolidated Statements of Condition.

The following table summarizes our off-balance sheet commitments to originate loans and letters of credit:

December 31,
20252024
Multi-family and commercial real estate(1)
$553 $2,478 
One-to-four family including interest rate locks1,031 725 
Other loan commitments9,099 9,837 
Total loan commitments$10,683 $13,040 
Stand-by letters of credit628 803 
Total commitments(2)
$11,311 $13,843 
(1)Includes ADC loans.
(2)The allowance for unfunded commitments is $55 million and $50 million as of December 31, 2025 and December 31, 2024, respectively, and is included in Other liabilities.

These commitments consist of agreements to extend credit as long as there is no violation of any condition established in the contract under which the loan is made. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The fees we collect in connection with the issuance of letters of credit are included in Fee income in the Consolidated Statements of (Loss) Income.

These instruments involve, to varying degrees, elements of credit and interest rate risk beyond the amount recognized on the Consolidated Statements of Condition. Our exposure to credit losses in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The contractual amount of standby letters of credit represents the maximum potential amount of future payments that we could be required to make and represents our maximum credit risk. We utilize the same credit policies in making commitments and conditional obligations as funded loans.
Legal Proceedings

We are involved in various legal actions arising in the ordinary course of our business, including stockholder, class and derivative actions. The outcome of pending or threatened litigation, or of investigations or any other matters before regulatory agencies is uncertain, whether currently existing or commencing in the future, including with respect to any litigation, investigation or other regulatory actions related to: (i) the business and disclosure practices of acquired companies, including our acquisition of Flagstar Bancorp and the purchase and assumption of certain assets and liabilities of Signature Bridge Bank, N.A. (“Signature”), (ii) the capital raise transaction we completed in March of 2024, (iii) our past material weaknesses in internal control over financial reporting, (iv) past cyber security breaches, and (v) recent events and circumstances involving the Bank, including our full year 2023 earnings announcement, disclosures regarding credit losses, provisioning and goodwill impairment, and negative news and expectations about the prospects of the Bank (and associated stock price volatility and changes).
We have established an accrual related to the legal actions where we believe that a loss is probable, and the amount can be reasonably estimated. As of December 31, 2025 and 2024, the accrual for legal actions was immaterial. When we can do so, we also determine estimates of reasonably possible losses or ranges of reasonably possible losses, whether in excess of any related accrued liability or where there is no accrued liability. We currently estimate that the range of reasonably possible losses in excess of amounts accrued at December 31, 2025 is immaterial.
There can be no assurance: (i) that we will not incur material losses due to damages, penalties, costs and/or expenses as a result of such litigation, investigations or regulatory proceedings, (ii) that the reserves we have established will be sufficient to cover such losses, or (iii) that such losses will not materially exceed such reserves and have a material impact on our financial condition or results of operations. We may incur significant legal expenses in defending such litigation, or as a result of our involvement in such investigations or regulatory proceedings, during the pendency of these matters, and in connection with any other potential cases, including expenses for the potential reimbursement of legal fees of officers and directors under indemnification obligations.
Securities Litigation
Flagstar and certain former executive officers of Flagstar and certain current and former directors of Flagstar have been named as defendants in a consolidated purported shareholder class action captioned Lemm, Jr. v. New York Community Bancorp, Inc., et al., Case No. 1:24-cv-00903, filed on February 6, 2024 (and later amended on September 6, 2024) in the United States District Court for the Eastern District of New York. This action seeks unspecified compensatory damages to be proven at trial, alleges violations of the federal securities laws, including Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and SEC Rule 10b-5, with respect to disclosures concerning our business, operations and prospects, particularly regarding the impact of the Flagstar Bancorp and Signature transactions and the Bank’s CRE loan portfolio and related matters, that were made in our public SEC filings and press releases during the period beginning on July 27, 2022 and ending on February 29, 2024. In addition, plaintiffs allege claims of violations of various federal securities laws related to the registration statement filed by NYCB in connection with its merger with Flagstar in 2022.
On December 19, 2024, another purported shareholder of Flagstar filed an additional purported shareholder class action, captioned Garfield v. Flagstar Financial, Inc. et al., Case No. 1:24-cv-08655, in the United States District Court for the Eastern District of New York against the Bank and certain current and former directors and executive officers of Flagstar. This additional purported class action alleged substantially the same claims as those set forth in the Lemm complaint and the plaintiff has filed a motion to consolidate this matter with the Lemm matter. On April 28, 2025, the Court entered a stipulated order consolidating the Lemm and Garfield matters. The action formerly known as Lemm was then recaptioned by the Court to In re: New York Community Bancorp, Inc. Securities Litigation. On August 8, 2025, Flagstar and the individual defendants filed a motion to dismiss for this matter which is pending decision by the Court. We are vigorously defending the allegations set forth in the purported class action complaints and also intend to vigorously defend any related actions.

Flagstar's former President and Chief Executive Officer and former Senior Executive Vice President and Chief Financial Officer, as well as all of Flagstar’s directors as of January 31, 2024, have also been named as defendants in the following purported shareholder derivative actions: Hauser v. Cangemi, et al., Case No. 1:24-cv-01207, filed on February 15, 2024 in the United States District Court for the Eastern District of New York; Pierce v. Cangemi, et al., Case No. 1:24-cv-01408, filed on February 26, 2024 in the United States District Court for the Eastern District of New York; Karp v. Cangemi et al., Case No. 1:24-cv-01421, filed on February 26, 2024 in the United States District Court for the Eastern District of New York; Wang v. Cangemi et al. Case No. 1:24-cv-01422, filed on February 26, 2024 in the United States District Court for the Eastern District of New York; and Podems v. Cangemi, et al., Case No. 608697/2024, filed on May 17, 2024 in the Supreme Court of New York State (Nassau County). These actions, which also name Flagstar as a nominal defendant and seek unspecified compensatory damages and certain corporate governance and internal procedures reforms, allege claims of breach of fiduciary duty, gross mismanagement, waste of corporate assets, unjust enrichment, and aiding and abetting with respect to the director defendants, and violations of Sections 10(b) and 21D of the Exchange Act with respect to the officer defendants. The allegations in the complaints relate to disclosures concerning our business, operations and prospects, particularly regarding the impact of the Flagstar Bancorp and Signature transactions and the Bank’s CRE loan portfolio and related matters, that were made in our public SEC filings and press releases during the period beginning on March 1, 2023 and ending on January 31, 2024, as well as the defendants’ management of Flagstar during such period. The parties filed a stipulated motion to consolidate and stay the related matters, pending the entry of a decision on the defendants' motions to dismiss in the related federal securities class action, which was granted by the court on August 18, 2025. The order re-captioned the action as In Re: New York Community Bank Stockholder Derivative Litigation. Plaintiffs filed a consolidated complaint on October 29, 2025. Flagstar has filed a notice to remove the Podems state derivative action to federal court. On March 3, 2025, the federal magistrate granted Podems’ motion to remand the derivative case back to New York state court. Flagstar filed an objection. On April 9, 2025, the judge entered an order adopting the Magistrate Judge’s Report and Recommendation recommending that the Court grant Plaintiff’s motion to remand the case to state court. Therefore, the Podems matter will now proceed in the Supreme Court of New York, Nassau County. On May 27, 2025, the court entered a stipulated order to stay the Podems action in New York State court until the resolution of the motion to dismiss the federal securities class action. Flagstar and the named defendants are vigorously defending these actions and also intend to vigorously defend any related actions.
Cyber breach incidents

Flagstar has been named as a defendant in three different sets of purported class actions related to three separate cyber breach incidents. Flagstar has vigorously defended these actions and also intends to vigorously defend any future or related actions. The first set, captioned Phillip Angus et al v. Flagstar Bank, Case No. 2:21-cv-10657-MFL-DRG, filed in the United States District Court for the Eastern District of Michigan, relates to a data breach that occurred in January 2021, after threat actors exploited vulnerabilities in a File Transfer Appliance (FTA) used by Flagstar Bancorp, which was acquired by Flagstar in December 2022, to gain access to confidential customer information. The action seeks unspecified compensatory damages to be proven at trial and alleges breach of implied-in-fact contract, breach of confidence and public disclosure of private fact and also violations of various California consumer protection laws. On March 27, 2025, the court granted Flagstar’s motion to dismiss as to certain allegations and denied Flagstar’s motion to dismiss as to certain other allegations. On April 4, 2025, the court entered a stipulated Order to Stay Proceedings Pending Mediation. The order stayed the matter for 90 days, to allow the parties to participate in mediation to resolve both this matter and the In re: Flagstar December 2021 Data Security Incident Litigation matter, discussed below.

The second set, captioned In re: Flagstar December 2021 Data Security Incident Litigation, Case No. 2:22-cv-11385 is comprised of twenty purported class action lawsuits that were consolidated into a single action filed on June 23, 2023, in the United States District Court for the Eastern District of Michigan, and relates to a cyber breach of Flagstar Bancorp’s information technology system that occurred in December 2021. The action seeks unspecified compensatory damages to be proven at trial and alleges common law and statutory claims associated with the exposure of customers’ Personally Identifiable Information (PII) as a result of the data breach and seeks class certification. On September 30, 2024, the court dismissed 17 of the 18 claims in the plaintiff’s consolidated complaint, allowing only the claim under the California Consumer Privacy Act to proceed, thereby limiting participation in the action to California class members. On April 4, 2025, the court entered a stipulated Order to Stay Proceedings Pending Mediation. The order stayed the matter for 90 days, to allow the parties to participate in mediation to resolve this matter and the Phillip Angus et al v. Flagstar Bank matter, discussed above.

On August 8, 2025, the parties reached a global settlement for both In re: Flagstar December 2021 Data Security Incident Litigation and Phillip Angus et al v. Flagstar Bank. The settlement, which requires court approval would fully resolve the common law and statutory claims of all potential claimants associated with the combined lawsuits. In order to consolidate the two data breach cases, In re: Flagstar December 2021 Data Security Incident Litigation was reassigned to the judge presiding over Phillip Angus et al v. Flagstar Bank. An order was issued on August 25, 2025, closing out In re: Flagstar December 2021 Data Security Incident Litigation and consolidating the two cases into the Angus matter (Case No. 2:21-cv-10657 (E.D. Mich.). As part of the global settlement process, Plaintiffs first filed a consolidated class action complaint on September 24, 2025 and then, on October 1, 2025, filed an unopposed Motion for Preliminary Approval of Class Settlement with the Court. On January 15, 2026, the court scheduled a hearing on the Motion for Preliminary Approval of Class Action Settlement. On February 20, 2026, following a hearing, the Court requested the Plaintiff's submit a written order to the Court for its approval. We await entry of the Order granting preliminary approval.

The third set, captioned In re: MOVEit Customer Data Security Breach Litigation, MDL No.1:23-md-03083-ADB-PGL, includes four purported class action lawsuits filed against Flagstar Bank, N.A in October 2023 that are part of the United States Judicial Panel on Multidistrict Litigation (JPML) case, captioned as, In Re MOVEit Customer Data Security Breach Litigation pending in the United States District Court for the District Court of Massachusetts. The class actions involving Flagstar allege claims of negligence, breach of contract, unjust enrichment, and other claims related to the MOVEit data breach, and seek unspecified compensatory and punitive damages. Litigation involving Flagstar is currently stayed pending ongoing court proceedings against a representative group of the larger class actions and which are intended to address critical legal and factual issues common to the parties.
Signature Bridge Bank

On March 20, 2023, Flagstar Bank entered into a Purchase and Assumption Agreement (the “Agreement”) with the FDIC, as receiver of Signature, to acquire certain assets and assume certain liabilities of Signature (the “Signature Transaction”). In connection with the Signature Transaction, Flagstar Bank assumed all of Signature’s branches. Flagstar Bank acquired only certain parts of Signature it believed to be financially and strategically complementary that were intended to enhance its future growth.
Pursuant to the terms of the Agreement, Flagstar Bank was not required to make a cash payment to the FDIC on March 20, 2023, as consideration for the acquired assets and assumed liabilities. Any items identified that affected the bargain gain were recorded in the period they were identified as a result of ongoing discussion that impacted the assets and liabilities acquired or assumed through the three months end March 31, 2024. Due to the complexity of the transaction that included only certain assets and liabilities of Signature and the servicing agreement, which ceased on March 20, 2024, Flagstar Bank remains engaged with the FDIC regarding the net settlement of historical activity and the amounts assumed at the transaction date as well as the balances of certain assets and liabilities at the time of the Signature Transaction. This is expected to take time to resolve and may result in net settlement payments to or from the FDIC which could impact other income or expense which, although not expected, could be material to the financial statements in future periods.
Interest on Escrow Preemption
Flagstar Bank is pursuing an appeal of a trial court’s decision that it had violated California Civil Code section 2954.8(a), which requires financial institutions to pay at least 2% interest annually on escrow accounts associated with mortgage loans. Plaintiffs filed a class action lawsuit, asserting that Flagstar's refusal to pay interest on California mortgage escrow accounts was an unlawful business act or practice under California law. In response, Flagstar argued that applicable California law was preempted by the NBA because it significantly interfered with Flagstar’s exercise of its federal powers. The district court certified a class of California borrowers, rejected Flagstar’s preemption argument, and granted Plaintiffs’ motion for summary judgment on liability, holding Flagstar liable for failing to pay interest on escrowed funds. The court later enjoined Flagstar to pay interest going forward, and awarded the class $9.3 million in restitution and prejudgment interest. Flagstar then posted a bond with the trial court to stay enforcement of the judgment while Flagstar appealed. The 9th Circuit Court of Appeals affirmed the district court’s preemption holding, based on Lusnak v. Bank of America, N.A., 883 F.3d 1185 (9th Cir. 2018), wherein the Court ruled that the NBA did not preempt California’s interest on escrow statute as applied to another national bank.

In Cantero v. Bank of America, N.A., 49 F.4th 121 (2d Cir. 2022), a separate action not involving Flagstar, the Second Circuit reached a contrary conclusion about preemption of New York’s interest-on-escrow law. Both Flagstar and the Cantero plaintiffs petitioned the Supreme Court for certiorari to resolve the conflict. The Supreme Court granted certiorari in Cantero and reversed. The Court held instead that in applying Dodd-Frank’s codified Barnett Bank standard, courts must conduct a “nuanced comparative analysis” lining up the challenged state law against those the Supreme Court previously examined in its precedents “on which Barnett Bank relied.” On June 10, 2024, the Supreme Court granted Flagstar’s certiorari petition, vacated the panel’s initial decision, and remanded “for consideration in light of Cantero” Flagstar Bank, N.A. v. Kivett, No. 22-349.

On remand, the panel issued a new memorandum disposition decision similar to its pre-Cantero decision and held again that Lusnak’s “unqualified” language controlled and thus California law was not preempted. After Flagstar sought panel rehearing or rehearing en banc, the panel requested supplemental briefing and argument. The panel then issued a new published decision, again affirming the district court’s preemption holding. On November 17, 2025, Flagstar filed its petition for re-hearing en banc, arguing a rehearing is warranted in order to bring the Ninth Circuit’s precedents in line with Cantero.

In November, 2025, the OCC and supporting trade groups filed amicus briefs in support of Flagstar’s rehearing petition. On December 8, 2025, the Ninth Circuit ordered plaintiffs to respond to Flagstar’s petition for rehearing en banc. Plaintiff’s response to Flagstar's petition was filed on January 28, 2026. Flagstar has vigorously defended this action, and intends to continue its defense in this matter by pursuing all available appellate recourse.
v3.25.4
Employee Benefits
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
Retirement Plan

The Retirement Plan of Flagstar Bank, N.A. (the “Retirement Plan”) covers substantially all employees who had attained minimum age, service, and employment status requirements prior to the date when the plan was frozen. Once frozen, the plan ceased to accrue additional benefits, service, and compensation factors, and became closed to employees who would otherwise have met eligibility requirements.

The following table sets forth certain information regarding the Retirement Plan as of the dates indicated:

December 31,
20252024
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year
$106 $115 
Interest cost5 5 
Actuarial (gain) loss
1 (6)
Annuity payments(6)(7)
Settlements(2)(1)
Projected benefit obligation at end of year
$104 $106 
Change in Plan Assets:
Fair value of assets at beginning of year$246 $253 
Actual return on plan assets
34 — 
Annuity payments(6)(6)
Settlements(2)(1)
Fair value of assets at end of year$272 $246 
Funded status (included in Other assets)
$168 $140 
Changes recognized in other comprehensive income (loss) for the year ended December 31:
Amortization of actuarial loss$(3)$(3)
Net actuarial (gain) loss arising during the year(17)10 
Total recognized in other comprehensive income (loss) for the year (pre-tax)
$(20)$7 
Accumulated other comprehensive loss (pre-tax) not yet recognized in net periodic benefit cost at December 31:
Actuarial loss, net$29 $49 
Total accumulated other comprehensive loss (pre-tax)$29 $49 

The accumulated benefit obligation for the Retirement Plan was $104 million and $106 million as of December 31, 2025 and 2024, respectively.

In 2026 less than one million dollars of unrecognized net actuarial loss related to the Retirement Plan are expected to be amortized from accumulated other comprehensive loss into net periodic benefit cost, compared with $3 million in 2025. The discount rates used to determine the projected benefit obligation at December 31, 2025 and 2024 were 5.16 percent and 5.38 percent, respectively.
The components of net periodic pension expense (income) were as follows for the years indicated:

Years Ended December 31,
202520242023
Components of net periodic pension (income):
Interest cost$5 $5 $5 
Expected return on plan assets(16)(17)(14)
Amortization of net actuarial loss3 3 7 
Net periodic pension (income)
$(8)$(9)$(2)
The following table indicates the weighted average assumptions used in determining the net periodic benefit cost for the years indicated:

Years Ended December 31,
202520242023
Discount rate5.38 %4.73 %4.92 %
Expected rate of return on plan assets6.75 6.75 6.25 

The long-term objective for the Plan is to maintain assets at a level that will sufficiently cover future beneficiary obligations and will achieve long-term growth in assets.

To achieve the Plan's long-term investment objectives, the Trustee will invest the assets of the Plan in a diversified combination of asset classes, investment strategies, and pooled vehicles. The asset allocation guidelines in the table below reflect the plan sponsor’s risk tolerance and long-term objectives for the Plan:

Asset Allocation Parameters by Asset Class
EquityMinimumTargetMaximum
U.S. Large-Cap27%
U.S. Mid/Small-Cap
14%
Non-U.S.14%
Total - Equity45%55%65%
Fixed Income
Long/Intermediate Duration
43%
Money Market/Cash Equivalents
2%
Total - Fixed Income/Cash Equivalents35%45%55%

The parameters for each asset class provide the Trustee with the latitude for managing the Plan within a minimum and maximum range. The Trustee will have full discretion to buy, sell, invest and reinvest in these asset segments based on these guidelines.
The following tables present information about the fair value measurements of the investments held by the Retirement Plan as of December 31, 2025 and as of December 31, 2024:

December 31, 2025
TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Equity:
  Large-cap value
$14 $14 $— $— 
  Large-cap core
19 19 — — 
  Mid-cap core
18 18 — — 
  Small-cap core
19 19 — — 
  International growth
26 26 — — 
  International value
13 13 — — 
  Large-cap growth
27 27 — — 
Mutual Funds Fixed Income - Intermediate - Core Plus
110 110 — — 
Common Stock
12 12 — — 
Common/Collective Trust-Equity Large cap value
14 — 14 
$272 $258 $14 $— 

December 31, 2024
TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Equity:
  Large-cap value
$14 $14 $— $— 
  Large-cap core
21 21 — — 
  Mid-cap core
17 17 — — 
  Small-cap core
17 17 — — 
  International growth
18 18 — — 
  International value
12 12 — — 
  Large-cap growth
28 28 — — 
Mutual Funds Fixed Income - Intermediate - Core Plus
96 96 — — 
Common Stock
9 9 — — 
Common/Collective Trust-Equity Large cap value
14 — 14 — 
$246 $232 $14 $— 

Current Asset Allocation
The asset allocations for the Retirement Plan were as follows:

December 31,
20252024
Equity securities60 %61 %
Debt securities40 %39 %
Total100 %100 %

Expected Contributions
We did not make any contributions to the Retirement Plan in the years ended December 31, 2025, 2024, and 2023. We do not expect to contribute to the Retirement Plan in 2026.
Expected Future Annuity Payments
The following annuity payments, which reflect expected future service, as appropriate, are expected to be paid by the Retirement Plan during the years indicated:

2026$9 
20278 
20288 
20298 
20308 
2031 and thereafter41 
Total$82 

Qualified Savings Plan (401(k) Plan)

We maintain a defined contribution qualified savings plan in the form of a 401(k) plan in which all employees are eligible to participate on their date of hire. We match a portion of employee 401(k) plan contributions which totaled $22 million, $28 million, and $21 million for the years ended December 31, 2025 and 2024, and 2023, respectively.
v3.25.4
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our chief operating decision maker is the Chief Executive Officer. We have evaluated our operating structure and determined that we operate in one reportable segment, which constitutes our only operating segment. Our chief operating decision maker regularly evaluates the performance of the business as a whole, with financial results reviewed on a consolidated basis.

Given the current focus on our operations, products, and services, the chief operating decision maker does not assess performance or make operating decisions based on distinct geographic or product line divisions as the focus has been on consolidated cost measures and realigning business operations to ensure long-term profitability. A current focus of the chief operating decision maker is on the primary revenue sources and the costs of the organization. Therefore, the chief operating decision maker considers each element of noninterest expense in decision making about how to allocate the resources of the company. Additionally, the chief operating decision maker is focused on the key consolidated revenue sources, most notably NII, which led to the decision to sell certain portions of our business and certain loan portfolios. Our significant revenues and expenses are reported on the face of the Consolidated Statements of (Loss) Income. As a result, our financial performance is reviewed as a single operating segment.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
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
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy

Protecting customer data that has been entrusted to us as part of the various services we provide to our customers against unauthorized access to or use of same, as well as ensuring business continuity notwithstanding the occurrence of operational disruptions caused by cybersecurity events, is of paramount importance to us.

We rely upon a formalized Information Technology Program (“IT Program”) managed by Flagstar’s Chief Information and Operations Officer (the “CIOO”) to ensure we are protecting the confidentiality, integrity and availability of confidential information. The IT Program is approved by the Board or designated committee thereof annually, and is designed to identify reasonably foreseeable internal and external threats, assess the likelihood and potential damage these threats could cause, and assess the appropriateness of policies, standards and procedures used to identify and mitigate risk levels to within the documented risk appetite. The IT Program has been designed to align with industry best practices, as well as Regulatory guidelines and laws; and leverages both the Secure Control and the National Institute of Standards and Technology Cybersecurity frameworks as its baselines.

Flagstar's Chief Information Security Officer ("CISO"), reporting to the CIOO, is responsible for the First Line cybersecurity program and maintains a set of procedures and operations around IT Risk management, identity- and access- management, network-, application-, and endpoint- security management, data protection, vulnerability management, security operations, security -architecture and -engineering, business continuity management, third party risk management, and regulatory compliance to ensure all associated enterprise technology and operations services performed and/or facilitated or otherwise supported by Flagstar’s Enterprise Technology & Operations Services Department (“ETOS”) remain in compliance with applicable laws, regulations, policies and procedures.

First Line Risk Management for ETOS is responsible for identifying, assessing, monitoring, controlling, reporting, escalating, remediating, and mitigating risks associated with their activities and for adhering to the Company’s Board-approved risk appetite and limits established by senior management and the Board, all in accordance with and pursuant to applicable laws, regulations, policies and procedures. The First Line is also responsible for developing, maintaining, and implementing First Line processes, procedures, and such other internal controls (including, without limitation, establishing, refining, and testing of controls catalogued in the Bank's Governance, Risk, and Compliance ("GRC") risk management platform) as are necessary to ensure the Bank and its third-party vendors and partners, as applicable, comply with applicable laws, regulations, policies and procedures.

The IT Program incorporates formal policies and procedures to ensure established controls are subjected to testing and independent effective challenge, to provide for appropriate due diligence and ongoing oversight of third parties who have access to our confidential information and/or systems, and to provide information and cybersecurity training to our employee population to ensure awareness of risks facing the institution and latest techniques used by malicious actors. A key component of the training program is the performance of phishing and social engineering campaign, the result of which are used to gauge the training program’s effectiveness, as well as to identify employees that pose a potential higher level of phishing/social engineering susceptibility risk, with all such employees provided additional targeted training.

The IT Program also includes subject matter expert review of third-party servicing agreements to ensure provisions adequately protect the bank in the event of a cybersecurity event whenever the relationship involves sensitive customer information. Internal auditors and third-party security experts are relied upon to review and ensure that established controls are appropriately designed, effectively implemented, and operating as intended; with such reviews undertaken as part of our internal audit and third-party penetration testing programs. The information/cybersecurity risk management program relies upon a layered security model to protect against both internal and external threats; and is a component of the RGF, which is reviewed and approved by the Board or a designated committee thereof at least annually.

The RGF sets forth enterprise-wide operational practices to ensure consistency in our approach to risk identification, assessment and testing, issues management, and mitigation with all aspects of risk management documented within a centrally maintained GRC risk management platform. A key aspect of the RGF is the risk and control self-assessment (“RCSA”) process, which is used to evaluate the mitigation effectiveness of implemented controls through an independent effective challenge program. Gaps or control weaknesses identified as part of the RCSA process require creation of issues and remediation strategies, both of which are formally documented within the GRC risk management platform, where remediation efforts are managed and monitored from initial creation through ultimate completion of the respective work effort. Independent effective
challenge has been embedded throughout this process and ensures that remediation efforts will and have satisfactorily addressed the identified issue.

A formal incident response plan is maintained by the Information Security Unit within ETOS and approved by the Board or designated committee thereof at least annually. The response plan sets forth our information/cybersecurity incident response framework, which has been designed to ensure a consistent, repeatable response to any actual or threatened cybersecurity incident. The framework sets forth the team structure utilized for the coordination, monitoring, oversight, and internal and external reporting in connection with any identified incident; and delineates responsibilities for all team members involved in response activities, as well as guidance for all employees in connection with defining, discovering, reporting, investigating, containing, and recovering from an incident. During the reporting period, we did not experience any cybersecurity risks or incidents that have materially or are reasonably likely to materially affect the Bank; including its business strategy, result of operations, or financial condition. We believe that the impact of any previously identified cyber incidents, including those subject to ongoing investigation and remediation, will not have a material impact on the Company, including business strategy, results of operations or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We rely upon a formalized Information Technology Program (“IT Program”) managed by Flagstar’s Chief Information and Operations Officer (the “CIOO”) to ensure we are protecting the confidentiality, integrity and availability of confidential information. The IT Program is approved by the Board or designated committee thereof annually, and is designed to identify reasonably foreseeable internal and external threats, assess the likelihood and potential damage these threats could cause, and assess the appropriateness of policies, standards and procedures used to identify and mitigate risk levels to within the documented risk appetite. The IT Program has been designed to align with industry best practices, as well as Regulatory guidelines and laws; and leverages both the Secure Control and the National Institute of Standards and Technology Cybersecurity frameworks as its baselines.
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 Technology & Operations Committee (the “BTOC”) of the Board, Executive Management, Flagstar’s Enterprise Risk Management Committee (“ERMC”), its Enterprise Technology & Operations Services Management Committee (“ETOSMC”), its Technology, Cyber, and Resilience Risk Management Committee (“TCRRMC”), ETOS personnel, and all applicable Senior Officers are each responsible for oversight of various aspects of the IT Program, as respectively applicable.

The Board, through the RAC and the BTOC, provides direction and oversight of both the RGF and information/cybersecurity risk management programs. The RAC and the BTOC meet quarterly to review and discuss overall state, current developments, management and performance metrics, risk identification and mitigation status, and new initiatives associated with the RGF, the IT Program, and Flagstar’s other supporting information/cybersecurity risk management programs, processes, and controls.

The RAC and the BTOC rely upon various management-level committees (e.g., ERMC, ETOSMC, and TCRRMC) for oversight and direct management of the RGF, which is supported by the IT Program governing, among other things, information/cybersecurity risk management processes and controls and direct reporting by the CISO.

The CISO is responsible for administration, management, and oversight of the Information/Cybersecurity Program; and is supported by a team of individuals that possess various levels of educational and technical hands-on expertise to carry out daily responsibilities and to ensure the Program’s success and continued maturation.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The CISO is responsible for administration, management, and oversight of the Information/Cybersecurity Program; and is supported by a team of individuals that possess various levels of educational and technical hands-on expertise to carry out daily responsibilities and to ensure the Program’s success and continued maturation.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Technology & Operations Committee (the “BTOC”) of the Board, Executive Management, Flagstar’s Enterprise Risk Management Committee (“ERMC”), its Enterprise Technology & Operations Services Management Committee (“ETOSMC”), its Technology, Cyber, and Resilience Risk Management Committee (“TCRRMC”), ETOS personnel, and all applicable Senior Officers are each responsible for oversight of various aspects of the IT Program, as respectively applicable.

The Board, through the RAC and the BTOC, provides direction and oversight of both the RGF and information/cybersecurity risk management programs. The RAC and the BTOC meet quarterly to review and discuss overall state, current developments, management and performance metrics, risk identification and mitigation status, and new initiatives associated with the RGF, the IT Program, and Flagstar’s other supporting information/cybersecurity risk management programs, processes, and controls.
Cybersecurity Risk Role of Management [Text Block]
The Board, through the RAC and the BTOC, provides direction and oversight of both the RGF and information/cybersecurity risk management programs. The RAC and the BTOC meet quarterly to review and discuss overall state, current developments, management and performance metrics, risk identification and mitigation status, and new initiatives associated with the RGF, the IT Program, and Flagstar’s other supporting information/cybersecurity risk management programs, processes, and controls.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Board, through the RAC and the BTOC, provides direction and oversight of both the RGF and information/cybersecurity risk management programs. The RAC and the BTOC meet quarterly to review and discuss overall state, current developments, management and performance metrics, risk identification and mitigation status, and new initiatives associated with the RGF, the IT Program, and Flagstar’s other supporting information/cybersecurity risk management programs, processes, and controls.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
The CISO is responsible for administration, management, and oversight of the Information/Cybersecurity Program; and is supported by a team of individuals that possess various levels of educational and technical hands-on expertise to carry out daily responsibilities and to ensure the Program’s success and continued maturation.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The RAC and the BTOC rely upon various management-level committees (e.g., ERMC, ETOSMC, and TCRRMC) for oversight and direct management of the RGF, which is supported by the IT Program governing, among other things, information/cybersecurity risk management processes and controls and direct reporting by the CISO.

The CISO is responsible for administration, management, and oversight of the Information/Cybersecurity Program; and is supported by a team of individuals that possess various levels of educational and technical hands-on expertise to carry out daily responsibilities and to ensure the Program’s success and continued maturation.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
The accompanying consolidated financial statements include the accounts of the Bank and other entities in which the Bank has a controlling financial interest. We prepare these consolidated financial statements in accordance with GAAP. All inter-company accounts and transactions are eliminated in consolidation. The Bank currently has certain unconsolidated subsidiaries in the form of wholly-owned statutory business trusts, which were formed to issue guaranteed capital securities. See Note 12 - Borrowed Funds, for additional information regarding these trusts.

When necessary, certain reclassifications have been made to prior-year amounts to conform to the current-year presentation.

We have also considered the impact of subsequent events on these consolidated financial statements through the date of issuance of the consolidated financial statements.

Except for per share or otherwise specified amounts, all amounts presented within the tables below are stated in millions.
Use of Estimates
We prepare these consolidated financial statements using financial information available at the time of preparation, which requires us to make estimates that affect the amounts reported. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the estimates employed are appropriate and the resulting balances are reasonable; however, due to inherent uncertainties in making estimates, actual results could differ from the original estimates, requiring adjustments to these balances in future periods.
Our most significant estimate relates to the ACL
Cash and Due from Banks, Interest Earning Deposits, Cash Equivalents and Restricted Cash
Cash and due from banks includes cash equivalents, cash on hand and cash due from other banks. Interest-earning deposits and other securities with financial institutions consists primarily of interest-bearing deposits and short-term money market investments.

Cash that the Bank pledges as maintenance margin on centrally cleared derivatives is considered restricted cash given that it is held in a separate account on the Bank’s behalf and we cannot remove the funds without changing the legal nature of our derivative arrangement. Restricted Cash is included in Other assets on the Consolidated Statements of Condition.
Debt Securities and Equity Investments with Readily Determinable Fair Values
Debt securities that are classified as "available for sale" are carried at their estimated fair value, with any unrealized gains or losses, net of taxes, reported as Accumulated other comprehensive loss. Premiums and discounts on debt securities are amortized to expense and accreted to income, respectively, over their remaining life using the effective interest method and are adjusted for anticipated prepayments. Interest income on our debt securities is recognized when earned and recorded in Securities and money market investments on the Consolidated Statements of (Loss) Income.

We evaluate available-for-sale debt securities in unrealized loss positions on a quarterly basis to determine if any portion of the unrealized losses in Accumulated other comprehensive loss is a result of a credit loss or other factors.

For debt securities we intend to sell or it is more likely than not we will be required to sell the security before the recovery of the unrealized loss, the difference between the fair value and amortized cost basis of the security is considered impaired and is recognized in Other non-interest income on the Consolidated Statements of (Loss) Income.

For debt securities we do not intend to sell or it is not more likely than not to be required to be sold before the recovery of their amortized cost basis, the credit portion of the impairment is recognized through an ACL while the noncredit portion is recognized in OCI. To determine the credit portion, we evaluate the present value of cash flows expected to be collected from the security compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis.

We exclude accrued interest receivable on available-for-sale securities from the estimate of credit losses.
Debt securities are valued based upon the lowest level of input that is significant to the fair value measurement. Securities such as highly liquid government securities and exchange-traded securities are valued based on quoted prices in an active market. For securities where a quoted price is not available, then the fair value is estimated using pricing models. These pricing models primarily use market-based or independently-sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices, and credit spreads. The models also incorporate transaction details such as maturity and cash flow assumptions. Securities valued in this manner primarily include mortgage-related and corporate debt securities.

Equity Investments with Readily Determinable Fair Values

Equity investments with readily determinable fair values are measured at fair value with changes in fair value recognized in Net gain on investment securities in the Consolidated Statements of (Loss) Income. We do not consider contractual restrictions on the sale of equity securities when measuring fair value. Dividend income on these securities is included in Securities and money market investments on the Consolidated Statements of (Loss) Income.
Loans Held-for-Sale
We classify loans as held for sale when we originate or purchase loans that we intend to sell or when we change our intent for loans previously classified as held for investment. Loans held for sale may be carried at the lower of cost or fair value or at fair value where we have elected the fair value option. Gains and losses on loans held for sale for which we have elected the fair value option are recorded to Other noninterest income on the Consolidated Statements of (Loss) Income.

Loans held for sale for which we did not elect the fair value option are recorded at the lower of cost or fair value at the individual loan level.
We elect to measure certain groups of loans held for sale under the fair value option, primarily residential mortgage loans. The fair value of loans held for sale for which we have elected the fair value option is estimated based upon quoted market prices for securities backed by similar types of loans, where available, or by discounting estimated cash flows using observable inputs inclusive of interest rates, prepayment speeds and loss assumptions for similar collateral.
Loans Held for Investment and Non-accrual and Past Due Loans and Leases and Charge-off of Uncollectible Loans
We classify loans that we have the intent and ability to hold for the foreseeable future or until maturity as loans held for investment. We report loans held for investment at their amortized cost which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees and costs, hedge accounting adjustments and fair value adjustments for acquired loans.

We recognize interest income on loans using the effective interest method over the life of the loan. Accordingly, we defer certain loan origination and commitment fees, and certain loan origination costs, and amortize the net fee or cost as an adjustment to the loan yield over the term of the related loan. When a loan is sold or repaid, the remaining net unamortized fee or cost is recognized in interest income.

Non-accrual and Past Due Loans and Leases

Loans are considered past due when the contractual principal and interest is not received within 30 days of the contractual due date.

A loan generally is classified as a "non-accrual" loan when it is determined that we no longer expect to collect all amounts due according to the contractual terms of the loan agreement. This may occur upon the performance of a credit review of a loan or borrower when a loan is 90 days or more past due or when we are made aware of new facts and circumstances that may impact a borrower's ability to pay in accordance with the contractual loan terms. When a loan is placed on non-accrual status, we cease the accrual of interest owed, and previously accrued interest is reversed against Interest Income - Loans and leases. Interest received on non-accrual loans is recorded as a reduction to the outstanding principal. A loan is only returned to accrual status when the loan is current (typically six months of payment performance) and we have reasonable assurance that the loan will be fully collectible. When we have reasonable assurance that the loan will be fully collectible, then interest payments may be recognized in interest income on a cash basis.

Charge-off of Uncollectible Loans

We charge off loans, or portions of loans, when they are deemed uncollectible. The collectability of individual loans is determined through an assessment of the financial condition and repayment capacity of the borrower and/or through an estimate of the fair value of any underlying collateral. For non-real estate-related consumer credits, the following past-due time periods determine when charge-offs are typically recorded: (1) closed-end credits are charged off in the quarter that the loan becomes 120 days past due; (2) open-end credits are charged off in the quarter that the loan becomes 180 days past due; and (3) both closed-end and open-end credits are typically charged off in the quarter that the credit is 60 days past the date the Bank received notification that the borrower has filed for bankruptcy.
Allowance for Credit Losses on Loans and Leases and Unfunded Commitments
The ACL represents our estimate of expected credit losses over the remaining contractual terms of our loans and leases, and unfunded off-balance sheet commitments. The ACL is deducted from the amortized cost basis of loans and leases so that the Statement of Condition reflects the net amount we expect to collect.
We reduce our ACL when a loan is charged off and increase the ACL when we recognize a recovery, which generally occurs upon cash collection. We remeasure our ACL on a quarterly basis with any changes recorded as a provision for (or benefit from) credit losses.

Determining the ACL requires significant judgment and assumptions and is based on ongoing assessments of historical credit loss information, forecasts of market and economic conditions, and qualitative factors considered relevant and appropriate by management.

The ACL represents an estimate of credit losses over the remaining expected life of our loans and leases. Expected life is determined considering the contractual term and prepayment expectations. We group our loans and leases into collectively evaluated pools when similar characteristics exist.

Our pools of loans and leases include multi-family, commercial real estate, commercial and industrial, 1-4 family, and other consumer. The ACL for collectively evaluated loans is estimated using models that project the probability of default and loss given default. These models consider borrower and collateral characteristics and a forecast of market and economic variables over a reasonable and supportable period. We leverage a forecast of market and economic conditions from established independent third parties and consider these to be reasonable and supportable for a period of two years from their estimation period. Beyond this period, our forecasts revert on a straight-line basis to long run historical averages over a one-year period. The ACL for collectively evaluated loans is derived using a weighted average of three scenarios, consisting of a most likely outcome (baseline), and two less probable scenarios with one being a stronger-near-term growth outcome (upside), and the other being a moderate recession outcome (downside).

We consider the need for qualitative adjustments to reflect trends not fully captured by the models. These may include adjustments for changes in underwriting standards, portfolio mix, credit terms, the financial condition of the borrower or collateral conditions. Qualitative adjustments may also include specific idiosyncratic risks such as changes in environmental conditions, legislation, regulation, policies, administrative practices or other relevant factors. Given the dynamic nature of qualitative adjustments, the factors considered by management and their relative impact to the ACL may vary from period to period.

Loans that do not share similar risk characteristics are evaluated on an individual basis. These generally include loans that are in non-accrual status and loans that are designated as TDMs. If a loan is determined to be collateral dependent or meets the criteria to apply the collateral-dependent practical expedient, expected credit losses are generally determined based on the fair value of the collateral at the reporting date, less costs to sell, as appropriate.

We maintain an ACL on off-balance sheet unfunded commitments which is included in Other liabilities. We estimate expected credit losses over the contractual period in which we are exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable. The ACL estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses considering the same elements as those analyzed when determining the allowance for funded loans and leases. Adjustments to the reserve for unfunded commitments are included in the Provision for credit losses in the Consolidated Statements of (Loss) Income.
Intangible Assets We review our finite-lived intangible assets for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable. Our largest intangible asset is the core deposit intangible recorded as a result of acquisitions.
Mortgage Servicing Rights
We purchased and originated mortgage loans for sale to the secondary market and sold the loans on either a servicing-retained or servicing-released basis. If we retained the right to service the loan, an MSR was created at the time of sale which was recorded at fair value. We used an internal valuation model that utilized an option-adjusted spread, constant prepayment speeds, costs to service and other assumptions to determine the fair value of mortgage servicing rights.

Servicing fee income, late fees and ancillary fees received on loans for which we owned the MSR as well as changes in the fair value of our mortgage servicing rights were included in Non-interest income - Net return on mortgage servicing rights
in the Consolidated Statements of (Loss) Income. The fees were based on the outstanding principal and were recorded when earned. Subservicing fees, which were included in Non-interest income - Net loan administration income, were based on a contractual monthly amount per loan including late fees and other ancillary income.
Premises and Equipment, Net
Premises, furniture, fixtures, and equipment, and leasehold improvements are carried at cost less accumulated depreciation computed on a straight-line basis over the estimated useful lives of the respective assets or the shorter of the related lease term or the estimated useful life of the improvement. The estimated useful lives for premises and equipment assets are as follows:

Premises and Equipment
Years
Buildings
20 - 50
Furniture, fixtures and equipment
3 - 10
Leasehold improvements
Up to 20
ATMs3

Whenever events or changes in circumstances dictate, we test our premises and equipment for impairment. In the event the carrying amount of the long-lived asset is not recoverable, an impairment loss is measured by comparing the carrying amount of the long-lived asset or asset group against its fair value. Impairments of our premises and equipment are recorded in Non-interest expense - General and administrative in the Consolidated Statements of (Loss) Income.
Income Taxes
Deferred tax assets and liabilities are recorded to recognize the future tax impact attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. We consider our expectation of future taxable income and establish a valuation allowance when realization of a deferred tax asset is not considered to be “more likely than not.”
We estimate income taxes payable based on the amount we expect to owe the various federal, state and local tax authorities. In estimating income taxes, we assess the relative merits and risks of the appropriate tax treatment of transactions, taking into account statutory, judicial, and regulatory guidance in the context of our tax position. In this process, we also rely on tax opinions, recent audits, and historical experience. Although we use the best available information to record income taxes, underlying estimates and assumptions can change over time as a result of unanticipated events or circumstances such as changes in tax laws and judicial guidance influencing our overall tax position.
Derivative Instruments and Hedging Activities
Derivative financial instruments are recorded at fair value in Other assets and Other liabilities on the Consolidated Statements of Condition on a gross basis, even when provisions allowing for set-off are in place. The accounting for changes in fair value of each derivative financial instrument depends on whether it has been designated and qualifies as an accounting hedge, as well as the type of hedging relationship.

Premiums paid on certain hedging instruments are accounted for separately and are amortized over the life of the derivative. The amortization of these premiums is recorded in Interest expense - Borrowed funds in the Consolidated Statements of (Loss) Income.

Derivatives subject to master netting agreements are cleared through a Central Counterparty Clearing House, which mitigates non-performance risk with counterparties and enables us to settle activity on a net basis.

Derivative contracts cleared through certain central clearing parties are settled daily via the exchange of variation margin. We may exchange additional cash collateral with the derivative counterparties for initial margin. We believe that the non-performance risk inherent in our remaining derivative contracts is minimal based on credit standards and the collateral provisions of the derivative agreements.
Derivatives not designated as hedging instruments

We utilize interest rate swaps and caps to meet the needs of customers. We also enter into interest rate lock commitments, which are commitments to originate mortgage loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. Market risk on interest rate lock commitments and mortgage loans held for sale may be managed using corresponding forward sale commitments. Changes in the fair value of derivatives not designated as hedging instruments are recognized in current period earnings on the Consolidated Statements of (Loss) Income.

Derivatives designated as hedging instruments

In prior periods, we had designated certain interest rate swaps to manage the variability in cash flows associated with overnight SOFR-based variable interest payments on FHLB advances. The changes in the fair value of these contracts were recorded in Accumulated other comprehensive loss and were reclassified into Interest expense – Borrowed funds in the Consolidated Statements of (Loss) Income in the same period in which the hedged transactions were recognized in earnings.

We designate certain fixed-rate to variable-rate interest rate swaps as fair value hedges to hedge the changes in the fair value of certain debt securities available-for-sale. We designate certain fixed-rate to variable-rate interest rate swaps as fair value hedges to hedge the changes in the fair value of certain of our pools of fixed-rate loans. The changes in the fair value of these contracts and the hedged item are recognized in Interest income - Loans and leases or Interest income - Securities and money market investments in the Consolidated Statements of (Loss) Income.

When we elect to de-designate a hedge relationship or a derivative no longer qualifies as an effective fair value hedge, the derivative continues to be carried on the Consolidated Statements of Condition at fair value with the total change in fair value recognized over the remaining life of the previously hedged item.
Fair Value Measurement
Fair value is an “exit” price, representing the amount that would be received when selling an asset, or paid when transferring a liability in an orderly transaction between market participants. Fair value is determined based on assumptions that market participants would use in pricing an asset or liability.

Valuation Hierarchy: GAAP establishes a three-tier fair value hierarchy, which prioritizes the significant inputs used in measuring fair value as follows:

•Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
•Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
•Level 3 – Inputs to the valuation methodology contain significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants use in pricing an asset or liability.
A financial instrument’s categorization within this valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Retirement Plans And Stock-Based Compensation
Our pension benefit obligations and the related costs are calculated using actuarial concepts in accordance with GAAP. The measurement of this obligation and the related expenses require that certain assumptions be made, most notably the discount rate and the expected rate of return on plan assets.

To determine the discount rate, we consider rates of return on high-quality fixed-income investments that are currently available and are expected to be available during the period until the pension benefits are paid. The expected future payments are discounted based on a portfolio of high-quality rated bonds (AA or better) for which we rely on the Financial Times Stock Exchange (“FTSE”) Pension Liability Index that is published as of the measurement date.
The expected long-term rate of return on retirement plan assets assumption is based on historical returns earned by equities and fixed income securities and adjusted to reflect expectations of future returns as applied to the retirement plan’s target allocation of asset classes.We recognize compensation expense for our stock-based awards on a straight-line basis over the requisite service period. Unvested shares are forfeited upon termination, including retirement, other than in cases of death or long-term disability, which may result in accelerated vesting. Compensation expense related to stock option awards is based on the estimated fair value of the stock option award on the grant date using the Black-Scholes option pricing model. Compensation expense related to restricted stock awards is based upon the fair value of the award on the grant date. Forfeitures of stock options and restricted stock awards are accounted for as they occur
Lessor Leasing Agreements
Lessor Arrangements

We provide leases for equipment included in our commercial loan portfolio. These qualify as direct financing leases which are recorded based upon the lease payments, estimated residual values and direct costs, excluding unearned income and uses the implicit interest rate to determine the value. Lease terms typically range from 24 to 120 months. We base residual value estimates on asset life, market value, and lessee behavior using industry data and third-party appraisals. At the end of the lease term, the lessee can renew the lease term, return, or purchase the equipment at its fair value. Impairment of residual value occurs if its fair value is less than the carrying amount. We review our direct financing leases for impairment at least annually. We utilize residual value insurance for certain of our direct finance leases.

Lessee Arrangements
We have operating leases for offices, branches, equipment and other items, generally with terms of 20 years or less. Certain leases contain options to extend or terminate early and we consider these options when evaluating the lease term to determine if they are reasonably certain to be exercised based on all relevant economic and financial factors.

At lease inception, lease liabilities are recognized in Other liabilities based on the present value of the remaining lease payments, discounted using our incremental borrowing rate if no implicit rate in the lease is available. Right-of-use assets, recognized in Other assets, represent our right to use an underlying asset for the lease term and are initially equal to the lease liability, adjusted for any payments made prior to lease commencement and any lease incentives.
We provide direct financing leases for equipment included in our commercial loan portfolio.
Revenue Recognition
Revenue is recognized when obligations, under the terms of a contract with our customer, are satisfied, which generally occurs when services are performed. Revenue is measured as the amount of consideration we expect to receive in exchange for providing services.

Deposit account and other banking income - We charge depositors various deposit account service fees including those for outgoing wires, overdrafts, stop payments, and ATM fees. These fees are generated from a depositor’s option to purchase services offered under the contract and are only considered a contract when the depositor exercises their option to purchase these account services. Therefore, we deem the term of our contracts with depositors to be day-to-day and to not extend beyond the services already provided. Deposit account and other banking fees are recorded at the point in time we perform the requested service.

Interchange income - We collect interchange fee income when debit cards that we have issued to our customers are used in merchant transactions. Our performance obligation is satisfied and revenue is recognized at the point we initiate the payment of funds from a customer’s account to a merchant account.

Treasury management fee income - We collect fees for treasury management services provided to corporate and institutional clients, including services related to liquidity management, payments and collections, financial risk management,
and security, delivered through an integrated platform of products and services. Fees earned on these activities are generally recognized when the transactions occur or the service is performed.
Earnings per Common Share
EPS is calculated under the two-class method as the unvested RSUs granted by the Bank are considered participating securities due to the awards' non-forfeitable rights to dividends paid on our common stock. Under the two-class method, all earnings, distributed and undistributed, are allocated to common stock and participating securities based on their respective rights to receive dividends on our common stock.
Basic and diluted earnings per share are computed by dividing Net income attributable to common stockholders by the weighted-average common shares outstanding in the period. Diluted earnings per share is computed by giving effect to all potentially dilutive securities that are outstanding. The potential dilutive effect of our warrants and convertible preferred stock is determined using the if-converted method and the potential dilutive effect of our stock options and stock-based awards is determined using the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods where the effect would be antidilutive
Accounting and Reporting Developments And Standards adopted in 2025 And Significant Standards Issued but Not Yet Adopted
Standards adopted in 2025

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which amends the disclosure requirement for income taxes. ASU 2023-09 requires (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also updates certain other amendments to improve the effectiveness of income tax disclosures. We adopted this standard on a retrospective basis. The adoption of ASU 2023-09 did not have an impact of our consolidated financial condition, results of operations, or cash flows, as the standard only affects disclosures.

In November 2025, the FASB issued ASU 2025-08, "Financial Instruments—Credit Losses (Topic 326): Purchased Loans," which expanded the gross-up approach for initial recognition and measurement of acquired financial assets to purchased seasoned loans. The adoption of ASU 2025-08 did not have an impact on our consolidated financial statements.

In November 2025, the FASB issued ASU 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements," which clarifies certain aspects of the guidance on hedge accounting and addresses several incremental hedge accounting issues arising from global reference rate reform. The adoption of ASU 2025-09 did not have an impact on our consolidated financial statements.

Significant Standards Issued but Not Yet Adopted

In November 2023, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses," which requires additional
interim and annual disclosures that further disaggregate certain expense captions into specific categories in a separate note to the financial statements, as well as certain qualitative information describing amounts not separately disaggregated. ASU 2024-03 is effective for us in the annual period beginning on January 1, 2027 and interim periods beginning January 1, 2028 and can be applied on a prospective or retroactive basis, with early adoption permitted. We are in the process of assessing the impact of the adoption of ASU 2024-03 on our consolidated financial statements.

In November 2024, the FASB issued ASU 2024-04, "Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments," which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an “induced conversion.” ASU 2024-04 is effective for us in the annual period beginning on January 1, 2026 and can be applied on either a prospective or a retrospective basis, with early adoption permitted. We do not expect ASU 2024-04 to have a material impact on our financial statements upon adoption.
In September 2025, the FASB issued ASU 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software," which increases the operability of the recognition guidance considering different methods of software development. ASU 2025-06 is effective for us in the annual period beginning on January 1, 2028 and can be applied on a prospective, modified, or a retrospective transition approach, with early adoption permitted as of the beginning of an annual reporting period. We are in the process of assessing the impact of the adoption of ASU 2025-06 on our consolidated financial statements.

In December 2025, the FASB issued ASU 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements," which clarifies interim disclosure requirements. ASU 2025-11 is effective for us in the annual period beginning January 1, 2028 and can be applied on a prospective or retrospective basis, with early adoption permitted. We are in the process of assessing the impact of the adoption of ASU 2025-11 on our consolidated financial statements.
Lessee Arrangements
We have operating leases for offices, branches, equipment and other items, generally with terms of 20 years or less. Many of our leases contain options to extend or terminate early and we consider these options when evaluating the lease term to determine if they are reasonably certain to be exercised based on all relevant economic and financial factors.

At lease inception, lease liabilities are recognized in Other liabilities based on the present value of remaining lease payments, discounted using our incremental borrowing rate if no implicit rate in the lease is available. Right-of-use assets, recognized in Other assets, represent our right to use an underlying asset for the lease term and are initially equal to the lease liability, adjusted for any payments made prior to lease commencement and any lease incentives.
Variable costs such as the proportionate share of actual costs for utilities, common area maintenance, property taxes and insurance are not included in the lease liability and are recognized in the period in which they are incurred.
Fair Value of Assets Acquired and Liabilities Assumed
The methods and significant assumptions used to estimate fair values for our financial instruments are described below:

Cash and Cash Equivalents
Cash and cash equivalents include cash and due from banks and federal funds sold. The estimated fair values of cash and cash equivalents are assumed to equal their carrying values, as these financial instruments are either due on demand or have short-term maturities.

Federal Home Loan Bank Stock
Ownership in equity securities of the FHLB is generally restricted and there is no established liquid market for their resale; therefore the estimated fair value of the FHLB securities is assumed to equal their carrying value.

Loans and leases
We disclose the fair value of loans measured at amortized cost using an exit price notion. We determine the fair value on substantially all of our loans for disclosure purposes, on an individual loan basis. The discount rates reflect current market rates for loans with similar terms to borrowers having similar credit quality on an exit price basis.
Deposits

The fair values of deposit liabilities with no stated maturity (i.e., interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts) are equal to the carrying amounts payable on demand. The fair values of CDs represent contractual cash flows, discounted using interest rates currently offered on deposits with similar characteristics and remaining maturities. These estimated fair values do not include the intangible value of core deposit relationships, which comprise a portion of our deposit base.

Borrowed Funds
The estimated fair value of borrowed funds is based either on bid quotations received from securities dealers or the discounted value of contractual cash flows with interest rates currently in effect for borrowed funds with similar maturities and structures.
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, reflecting assumptions that a market participant would use when pricing an asset or liability. In some cases, the estimation of fair values requires management to make estimates about
discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and are subject to change.

Cash and Cash Equivalents

The estimated fair value of cash and cash equivalents approximates their stated face amounts, as these financial instruments are either due on demand or have short-term maturities.

Loans and leases

The fair value for loans was based on a discounted cash flow methodology that considered credit loss expectations, market interest rates and other market factors such as liquidity from the perspective of a market participant. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The probability of default, loss given default and prepayment assumptions were the key factors driving credit losses which were embedded into the estimated cash flows. These assumptions were informed by internal data on loan characteristics, historical loss experience, and current and forecasted economic conditions. The interest and liquidity component of the estimate was determined by discounting interest and principal cash flows through the expected life of each loan. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity. The discount rates do not include a factor for credit losses as that has been included as a reduction to the estimated cash flows. Acquired loans were marked to fair value and adjusted for any PCD gross up as of the date of the Signature Transaction.

Deposit Liabilities

The fair value of deposit liabilities with no stated maturity (i.e., non-interest-bearing and interest-bearing checking accounts) is equal to the carrying amounts payable on demand. The fair value of certificates of deposit represents contractual cash flows, discounted using interest rates currently offered on deposits with similar characteristics and remaining maturities.

Core Deposit Intangible

CDI is a measure of the value of non-interest-bearing and interest-bearing checking accounts, savings accounts, and money market accounts that are acquired in a business combination. The fair value of the CDI was determined using a discounted cashflow methodology which considered discount rate, customer attrition rates, and other relevant market assumptions. This method estimated the fair value by discounting the present value of the expected cost savings attributable to the core deposit funding, relative to an alternative source of funding. The CDI relating to the Signature Transaction will be amortized over an estimated useful life of 10 years using the sum of years digits depreciation method. The Bank evaluates such identifiable intangibles for impairment when an indication of impairment exists.

PCD loans
Purchased loans that reflect a more than insignificant deterioration of credit from origination are considered PCD. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held for investment
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Premises and Equipment and Estimated Useful Lives The estimated useful lives for premises and equipment assets are as follows:
Premises and Equipment
Years
Buildings
20 - 50
Furniture, fixtures and equipment
3 - 10
Leasehold improvements
Up to 20
ATMs3
The table below presents our Premises and equipment:
December 31,
20252024
Premises and equipment
$1,009 $1,131 
Less: Accumulated depreciation
(532)(569)
Premises and equipment, net
$477 $562 

The table below presents our Depreciation expense:
Year Ended December 31,
202520242023
Depreciation expense(1)
$41 $48 $39 
(1)Included in Occupancy and equipment expense in the Consolidated Statements of (Loss) Income.
v3.25.4
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Net Assets Acquired
A summary of the bargain purchase gain is as follows:


Net assets acquired as of March 20, 2023 before fair value adjustments
$2,973 
  Fair value adjustments:
    Loans(727)
    Core deposit and other intangibles464 
    Certificates of deposit 27 
    Other net assets and liabilities39 
    FDIC Equity Appreciation Instrument(85)
Deferred tax liability(690)
Bargain purchase gain on Signature Transaction, as initially reported$2,001 
Adjustments related to items identified subsequent to the initial reporting period as of March 20, 2023:
Measurement period adjustments, excluding taxes$(134)
Change in deferred tax liability143 
Bargain purchase gain on Signature Transaction, as adjusted$2,010 
The incremental changes are included as measurement period adjustments in the table below.
As Initially Reported
Measurement Period Adjustments
As Adjusted
Purchase Price consideration$85 $— $85 
Fair value of assets acquired:
Cash & cash equivalents25,043 (142)24,901 
Loans held for sale232 — 232 
Loans held for investment:
Commercial and industrial10,102 (214)9,888 
Commercial real estate1,942 (262)1,680 
Consumer and other174 (1)173 
Total loans held for investment$12,218 $(477)$11,741 
CDI and other intangible assets464 — 464 
Other assets679 (266)413 
Total assets acquired$38,636 $(885)$37,751 
Fair value of liabilities assumed:
Deposits33,568 (61)33,507 
Other liabilities2,982 (833)2,149 
Total liabilities assumed$36,550 $(894)$35,656 
Fair value of net identifiable assets2,086 9 2,095 
Bargain purchase gain$2,001 $9 $2,010 
Schedule of Loans and Leases Purchased as Part of Acquisition The following table provides a summary of loans and leases purchased as part of the Signature Transaction with credit deterioration and the associated credit loss reserve at acquisition:
Total
Par value (UPB)$583 
Allowance for credit losses at acquisition(13)
Non-credit (discount)(76)
Fair value$494 
v3.25.4
Earnings per Common Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Loss Per Share of Common Stock
The following table reflects basic and diluted weighted average shares and net loss per share:

Year Ended December 31,
202520242023
Net (loss) income attributable to common stockholders$(210)$(1,153)$(112)
Less: Income allocated to participating securities
— — (5)
(Loss) earnings attributable to common stock$(210)$(1,153)$(117)
Weighted average common shares outstanding415,327,556330,713,517237,881,183
Basic (loss) earnings per common share$(0.50)$(3.49)$(0.49)
(Loss) earnings attributable to common stock$(210)$(1,153)$(117)
Weighted average common shares outstanding415,327,556330,713,517237,881,183
Dilutive potential common shares
———
Total shares for diluted earnings per common share computation415,327,556330,713,517 237,881,183 
Diluted (loss) earnings per common share and common share equivalents$(0.50)$(3.49)$(0.49)
v3.25.4
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax
The following table summarizes the changes in AOCL, net of tax, for the periods presented:

Securities AFS
Cash Flow Hedges
Pension and Post-retirement Plans
Total
Balance as of December 31, 2022
$(626)$52 $(46)$(620)
   Other comprehensive income (loss) before reclassification, net of tax
4561263
   Amounts reclassified from AOCL to (income)/expense, net of tax
—(48)6(42)
   Other comprehensive income (loss), net of tax
45(42)1821
Balance as of December 31, 2023
$(581)$10 $(28)$(599)
   Other comprehensive income (loss) before reclassification, net of tax
(72)106(8)26
   Amounts reclassified from AOCL to (income)/expense, net of tax
—(69)2(67)
   Other comprehensive income (loss), net of tax
(72)37(6)(41)
Balance as of December 31, 2024
$(653)$47 $(34)$(640)
   Other comprehensive income (loss) before reclassification, net of tax
186—10196
   Amounts reclassified from AOCL to (income)/expense, net of tax
—(47)2(45)
   Other comprehensive income (loss), net of tax
186(47)12151
Balance as of December 31, 2025
$(467)$— $(22)$(489)
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The following table sets forth the amounts reclassified out of accumulated other comprehensive loss:

Amount Reclassified out of AOCL
Affected Line Item in the Consolidated Statements of (Loss) Income
202520242023
Cash Flow Hedges:
Realized gain on cash flow hedges
$64 $93 $65 
Interest expense - Borrowed funds
Tax benefit (expense)
(17)(24)(17)
Income tax (benefit)
$47 $69 $48 
Pension and Post-retirement Plans:
Amortization of actuarial losses
(3)(3)(7)
General and administrative
Tax benefit (expense)
1 1 1 
Income tax (benefit)
$(2)$(2)$(6)
Amounts reclassified from AOCL, net of tax
$45 $67 $42 
v3.25.4
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Trading and Available-for-sale Securities
The following tables summarize our portfolio of debt securities available-for-sale:

December 31, 2025

Amortized Cost
Gross Unrealized GainGross Unrealized LossFair Value
Debt securities available-for-sale
Mortgage-Related Debt Securities:
GSE CMOs$12,129 $55 $360 $11,824 
GSE certificates1,116 2 119 999 
Private label CMOs
147 12 — 159 
Total mortgage-related debt securities$13,392 $69 $479 $12,982 
Other Debt Securities:
GSE debentures$1,502 $— $206 $1,296 
U. S. Treasury obligations1,001 16 — 1,017 
Corporate bonds147 — 3 144 
Asset-backed securities
217 — 4 213 
Capital trust notes47 6 8 45 
Municipal bonds4 — — 4 
Total debt securities
$2,918 $22 $221 $2,719 
Total debt securities available-for-sale, net of allowance(1)(2)(3)(4)
$16,310 $91 $700 $15,701 
(1)At December 31, 2025, substantially all of our debt securities available-for-sale are comprised of securities issued by GSEs or are explicitly guaranteed by the U.S. government.
(2)As of December 31, 2025, the ACL was $2 million.
(3)Excludes accrued interest receivable of $58 million included in Other assets in the Consolidated Statements of Condition.
(4)We pledged investment securities of $15.4 billion as collateral for certain borrowings.
December 31, 2024

Amortized Cost
Gross Unrealized GainGross Unrealized LossFair Value
Debt securities available-for-sale
Mortgage-Related Debt Securities:
GSE CMOs$7,724 $27 $447 $7,304 
GSE certificates1,273 — 167 1,106 
Private label CMOs158 6 1 163 
Total mortgage-related debt securities$9,155 $33 $615 $8,573 
Other Debt Securities:
GSE debentures$1,502 $— $299 $1,203 
Corporate bonds314 — 6 308 
Asset-backed securities
237 1 2 236 
Capital trust notes47 5 10 42 
Foreign Notes35 — — 35 
Municipal bonds5 — — 5 
Total debt securities
$2,140 $6 $317 $1,829 
Total securities available-for-sale, net of allowance(1)(2)(3)(4)
$11,295 $39 $932 $10,402 
(1)At December 31, 2024, substantially all of our debt securities available-for-sale are comprised of securities issued by GSEs or are explicitly guaranteed by the U.S. government.
(2)As of December 31, 2024, the ACL was $3 million.
(3)Excludes accrued interest receivable of $35 million included in Other assets in the Consolidated Statements of Condition.
(4)We pledged investment securities of $10.2 billion as collateral for certain borrowings.
Schedule of Unrealized Loss Positions on Investment Securities Held-to-Maturity
The following table summarizes, by contractual maturity, the fair value of securities as of December 31, 2025:

Mortgage- Related SecuritiesU.S. Government and GSE Obligations
Corporate and Other Bonds
Asset-Backed Securities
Total
Available-for-Sale Debt Securities:
Due from one to five years$148 $1,083 $128 $— $1,359 
Due from five to ten years210 1,230 27 — 1,467 
Due after ten years12,624 — 38 213 12,875 
Total debt securities available-for-sale
$12,982 $2,313 $193 $213 $15,701 
Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity
The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2025:

Number of Debt Securities(1)
Less than Twelve MonthsTwelve Months or LongerTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Debt securities in a continuous unrealized loss position:
U.S. Government agency and GSE obligations33$— $— $1,297 $206 $1,297 $206 
GSE certificates3248 — 926 119 934 119 
GSE CMOs226427 1 2,993 359 3,420 360 
Asset-backed securities 5— — 152 4 152 4 
Municipal bonds1— — 4 — 4 — 
Corporate bonds5— — 144 3 144 3 
Capital trust notes 5— — 35 8 35 8 
Total debt securities in a continuous unrealized loss position599$435 $1 $5,551 $699 $5,986 $700 
(1)Count of securities that have been in a loss position for twelve or more months.

The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2024:

Number of Debt Securities(1)
Less than Twelve MonthsTwelve Months or LongerTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Debt securities in a continuous unrealized loss position:
GSE CMOs223$1,636 $3 $2,822 $444 $4,458 $447 
U.S. Government agency and GSE obligations33— — 1,203 299 1,203 299 
GSE certificates32838 — 1,040 167 1,078 167 
Corporate bonds11— — 308 6 308 6 
Asset-backed securities5— — 154 2 154 2 
Capital trust notes5— — 33 10 33 10 
Private Label CMOs2— — 17 1 17 1 
Foreign notes1— — 10 — 10 — 
Municipal bonds1— — 5 — 5 — 
Total debt securities in a continuous unrealized loss position609 $1,674 $3 $5,592 $929 $7,266 $932 
(1)Count of securities that have been in a loss position for twelve or more months.
v3.25.4
Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of Components
The composition of our loan portfolio for the periods indicated was as follows:

December 31,
Loans and leases held for investment:20252024
Multi-family$28,983 $34,093 
Commercial real estate(1)
9,314 11,836
One-to-four family first mortgage5,630 5,201
Commercial and industrial(2)
15,217 15,376
Other1,588 1,766
Total loans and leases held for investment (3)(4)
$60,732 $68,272 
Allowance for credit losses on loans and leases(1,030)(1,201)
Total loans and leases held for investment, net$59,702 $67,071 
Loans held for sale265 899
Total loans and leases, net$59,967 $67,970 
(1)Includes ADC loans.
(2)Includes lease financing receivables (net of unearned income of $129 million and $169 million) of $1.7 billion and $2.1 billion at December 31, 2025 and December 31, 2024, respectively.
(3)Excludes accrued interest receivable of $242 million and $277 million at December 31, 2025 and December 31, 2024, respectively, which is included in Other assets in the Consolidated Statements of Condition.
(4)We pledged loans of $31.5 billion and $44.6 billion between the FHLB and FRB-NY to serve as collateral for our wholesale borrowings at December 31, 2025 and December 31, 2024, respectively.
Schedule of Delinquency Status of Our Loans Held for Investment
The following table presents information regarding the delinquency status of our loans held for investment as of December 31, 2025:

Current
Loans 30-89 Days Past Due
Non-Accrual Loans
Total Loans Receivable
Multi-family$26,134 $588 $2,261 $28,983 
Commercial real estate(1)
8,670 155 489 9,314 
One-to-four family first mortgage5,488 78 64 5,630 
Commercial and industrial (2)
14,961 126 130 15,217 
Other1,518 39 31 1,588 
Total$56,771 $986 $2,975 $60,732 
(1)Includes ADC loans.
(2)Includes lease financing receivables.

The following table presents information regarding the delinquency status of our loans held for investment as of December 31, 2024:

CurrentLoans 30-89 Days Past Due Non-Accrual Loans Total Loans Receivable
Multi-family$31,589 $749 $1,755 $34,093 
Commercial real estate(1)
11,202 70 564 11,836 
One-to-four family first mortgage5,106 25 70 5,201 
Commercial and industrial (2)
15,064 110 202 15,376 
Other1,731 11 24 1,766 
Total$64,692 $965 $2,615 $68,272 
(1)Includes ADC loans.
(2)Includes lease financing receivables.
Schedule of Loans Held for Investment
The following table presents the credit rating by vintage for our loans held for investment as of December 31, 2025:

Term LoansRevolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Origination Year
2025
2024
2023
2022
2021
Prior To
2021
Total
Multi-family
Pass$45 $15 $592 $5,782 $5,238 $7,887 $4 $69 $19,632 
Special Mention— — — 754 751 546 — 14 2,065 
Substandard— — 134 819 1,132 2,938 2 — 5,025 
Non-accrual— — 12 293 359 1,597 — — 2,261 
Total Multi-family45 15 738 7,648 7,480 12,968 6 83 28,983 
Year to date gross charge-offs— — — (59)(71)(155)— — (285)
Commercial Real Estate(1)
Pass$478 $373 $1,053 $1,297 $955 $2,104 $924 $95 $7,279 
Special Mention10 10 50 88 5 154 25 10 352 
Substandard1 21 147 143 86 513 124 159 1,194 
Non-accrual— — 12 74 4 365 33 1 489 
Total Commercial Real Estate489 404 1,262 1,602 1,050 3,136 1,106 265 9,314 
Year to date gross charge-offs— — (5)(1)(7)(28)— — (41)
One-to-Four Family
Pass$938 $285 $415 $2,178 $778 $682 $78 $4 $5,358 
Substandard— 1 4 12 2 189 — — 208 
Non-accrual1 3 7 18 12 21 2 — 64 
Total One-to-Four Family939 289 426 2,208 792 892 80 4 5,630 
Year to date gross charge-offs— — — (2)— (2)— — (4)
Commercial and Industrial(2)
Pass$3,638 $793 $1,876 $1,513 $493 $739 $5,236 $231 $14,519 
Special Mention— 42 7 21 1 28 127 — 226 
Substandard— 8 50 35 31 16 201 1 342 
Non-accrual1 18 23 21 5 29 24 9 130 
Total Commercial and Industrial3,639 861 1,956 1,590 530 812 5,588 241 15,217 
Year to date gross charge-offs(25)(1)(32)(21)(5)(3)— — (87)
Other Loans
Pass$44 $27 $21 $7 $2 $30 $1,336 $89 $1,556 
Substandard— — — — — — 1 — 1 
Non-accrual— — — — — 1 30 — 31 
Total Other Loans44 27 21 7 2 31 1,367 89 1,588 
Year to date gross charge-offs(10)(2)(7)(7)— (6)— — (32)
(1)Includes ADC loans.
(2)Includes lease financing receivables.
The following table presents the credit rating by vintage for out loans held for investment as of December 31, 2024:

Term LoansRevolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Origination Year
2024
2023
2022
2021
2020
Prior To
2020
Total
Multi-family
Pass$17 $700 $6,599 $6,070 $5,203 $3,997 $27 $— $22,613 
Special Mention—146886946467951—2,838
Substandard21235298681,5263,8345—6,887
Non-accrual——1131442741,224——1,755
Total Multi-family198377,9297,7767,6499,85033—34,093
Year to date gross charge-offs——(28)(34)(42)(204)——(308)
Commercial Real Estate(1)
Pass$542 $1,298 $1,753 $1,106 $576 $2,068 $1,597 $367 $9,307 
Special Mention—7213069106138120—635
Substandard23117911016272311761,330
Non-accrual—37343644476—564
Total Commercial Real Estate5441,4382,0961,3218483,3761,84037311,836
Year to date gross charge-offs—(8)(81)(1)(27)(349)——(466)
One-to-Four Family
Pass$250 $521 $2,431 $859 $178 $609 $80 $2 $4,930 
Substandard128216172——201
Non-accrual—416107285—70
Total One-to-Four Family2515272,4558712018098525,201
Year to date gross charge-offs——(1)——(7)——(8)
Commercial and Industrial(2)
Pass$1,267 $2,609 $2,014 $651 $450 $759 $5,554 $1,164 $14,468 
Special Mention17291842111196206
Substandard135072727132658500
Non-accrual3516098152—202
Total Commercial and Industrial1,3002,6932,2647364677985,9401,17815,376
Year to date gross charge-offs(3)(20)(40)(20)(19)(34)——(136)
Other Loans
Pass$100 $29 $12 $4 $2 $32 $1,441 $121 $1,741 
Special Mention——————1—1
Non-accrual—————519—24
Total Other Loans100291242371,4611211,766
Year to date gross charge-offs(2)(4)(4)(1)(1)(8)——(20)
(1)Includes ADC loans.
(2)Includes lease financing receivables.
Schedule of Collateral-Dependent Loans Held for Investment
The following table summarizes the recorded investment of our collateral-dependent loans held for investment by collateral type:

December 31,
20252024
Collateral Type
Real PropertyReal Property
Multi-family$2,320 $1,817 
Commercial real estate(1)
426 554 
One-to-four family first mortgage59 48 
Commercial and industrial4 — 
Total collateral-dependent loans held for investment$2,809 $2,419 
(1)Includes ADC loans.
Schedule of Modifications to Borrowers Experiencing Financial Difficulty and Performance of Loans Modified in Last 12 Months, and TDRs
The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty:

Interest Rate ReductionTerm ExtensionPrincipal Forgiveness
Weighted-Average Contractual Interest Rate
FromTo
Weighted-Average Term (in years)
Reduced Amortized Cost Basis
Year Ended December 31, 2025
Commercial real estate
— %— %0.4
One-to-four family first mortgage7.02 %6.09 %9.3
Commercial and industrial7.50 %7.25 %2.8
Other Consumer10.30 %5.97 %13.0
Year Ended December 31, 2024
Multi-family8.08 %6.00 %
Commercial real estate
8.13 %6.95 %0.3
One-to-four family first mortgage4.73 %3.80 %11.3$1 
Commercial and industrial7.73 %6.10 %0.7
Other Consumer10.69 %3.71 %2.1
Year Ended December 31, 2023
Multi-family7.45 %6.02 %
Commercial real estate
8.83 %4.56 %
One-to-four family first mortgage6.08 %4.79 %
Commercial and industrial8.44 %8.08 %0.6
Other Consumer9.09 %4.82 %

The following table presents the amortized cost basis of the modifications for borrowers experiencing financial difficulty that subsequently defaulted and were within twelve months of the modification date:

Year Ended December 31, 2025Term ExtensionPrincipal ForgivenessCombination - Interest Rate Reduction and Term/Payment Extension/Delay
One-to-four family first mortgage$13 $— $7 
Commercial and industrial5—2
Total$18 $— $9 
Year Ended December 31, 2024
Commercial real estate$4 $— $— 
One-to-four family first mortgage2 1 1 
Commercial real estate
1 — — 
Total$7 $1 $1 
Year Ended December 31, 2023
One-to-four family first mortgage$4 $— $4 
Total$4 $— $4 
The following tables provide a summary of loan balances which were modified during the prior twelve months, by class of financing receivable and delinquency status:

December 31, 2025Current30 - 89 Past Due90+ Past DueTotal
Commercial real estate
$6 $— $— $6 
One-to-four family first mortgage1—4142
Commercial and industrial—7—7
Total$7 $7 $41 $55 
December 31, 2024
Multi-family$2 $— $— $2 
Commercial real estate
8 — 4 12
One-to-four family first mortgage8 — 8 16
Commercial and industrial— — 4 4
Total$18 $— $16 $34 
December 31, 2023
Commercial real estate
$1 $— $— $1 
One-to-four family first mortgage3 — 8 11 
Commercial and industrial39113
Other Consumer11—2
Total$8 $10 $9 $27 
v3.25.4
Allowance for Credit Losses on Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
Schedule of Additional Information about Nonaccrual Loans
The following table summarizes activity in the ACL on loans and leases for the periods indicated:

Multi- Family
Commercial Real Estate(1)
One-to-Four Family First Mortgage
Commercial and Industrial
OtherTotal
Year Ended December 31, 2025
Balance, beginning of period$639 $304 $39 $150 $69 $1,201 
Charge-offs(285)(41)(4)(87)(32)(449)
Recoveries508—281298 
Provision for (recovery of) credit losses on loans and leases145(42)—5918180 
Balance, end of period$549 $229 $35 $150 $67 $1,030 
Year Ended December 31, 2024
Balance, beginning of period$307 $402 $47 $131 $105 $992 
Charge-offs(308)(466)(8)(136)(20)(938)
Recoveries58521746 
Provision for (recovery of) credit losses on loans and leases635360(5)134(23)1,101 
Balance, end of period$639 $304 $39 $150 $69 $1,201 
Year Ended December 31, 2023
Balance, beginning of period$178 $67 $46 $38 $64 $393 
Adjustment for Purchased PCD Loans———13—13 
Charge-offs(119)(56)(4)(30)(14)(223)
Recoveries———10515 
Provision for (recovery of) credit losses on loans and leases248391510050794 
Balance, end of period$307 $402 $47 $131 $105 $992 
(1)Includes ADC loans.
The following table presents additional information about our non-accrual loans as of December 31, 2025:

Non-accrual loans with no related allowance:
Non-accrual loans with an allowance recorded:
Total non-accrual loans
Related Allowance
Multi-family$1,141 $1,120 $2,261 $99 
Commercial real estate(1)
319170489 60
One-to-four family first mortgage402464 2
Commercial and Industrial
3793130 32
Other
—3131 29
Total
$1,537 $1,438 $2,975 $222 
(1)Includes ADC loans.

The following table presents additional information about our non-accrual loans as of December 31, 2024:
Non-accrual loans with no related allowance:Non-accrual loans with an allowance recorded:
Total non-accrual loans
Related Allowance
Multi-family$1,092 $663 $1,755 $77 
Commercial real estate(1)
429135564 31
One-to-four family first mortgage61970 1
Commercial and Industrial
51151202 —
Other
32124 55
Total
$1,636 $979 $2,615 $164 
(1)Includes ADC loans.
v3.25.4
Leases, Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Components of Lease Income The following table presents our interest income on lease financing:
Year Ended December 31,
202520242023
Interest income on lease financing
$93 $136 $119 
Schedule of Components of Net Investment in Direct Financing Leases
The components of our gross investment in direct financing leases are shown below:

December 31,
20252024
Lease payments receivable
$1,534 $2,039 
Unguaranteed residual assets (1)
266 285 
Gross investment in direct financing leases
$1,800 $2,324 
(1)The amount of residual value insurance in place at December 31, 2025 and December 31, 2024 was insignificant.
Schedule of Components of Net Investment in Direct Financing Leases
The following table presents the remaining maturity analysis of the undiscounted lease receivables, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition:

December 31, 2025
2026$445 
2027441 
2028279 
2029220 
2030145 
Thereafter270 
Gross investment in direct financing leases$1,800 
Plus: deferred origination costs27 
Less: unearned income(129)
Less: purchase accounting adjustment(28)
Less: other
(10)
Total lease finance receivables, net$1,660 
Schedule of Lease Cost Information Operating lease costs are recorded in Occupancy and Equipment on the Consolidated Statements of (Loss) Income and costs were as follows:
Year Ended December 31,
202520242023
Operating lease cost
$77 $75 $86 
The table below presents the supplemental cash flow information related to the leases:

Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$76 $71 $64 
Schedule of Supplemental Balance Sheet Information
Supplemental balance sheet information related to our operating lease arrangements is presented below:

December 31,
20252024
Operating Leases:
Operating lease right-of-use assets
$380 $416 
Operating lease liabilities
$427 $463 
Weighted average remaining lease term10.1 years10.7 years
Weighted average discount rate %4.79 %4.77 %
Schedule of Supplemental Balance Sheet Information
The following table presents the remaining maturity analysis of our lease liabilities, as well as the reconciliation to the total present value of the lease liability recorded in Other liabilities on the Consolidated Statements of Condition:
December 31, 2025
Maturities of lease liabilities:
2026$70 
202764 
202857 
202951 
203044 
Thereafter261 
Total lease payments$547 
Less: imputed interest(120)
Total present value of lease liabilities$427 
Schedule of Premises and Equipment and Estimated Useful Lives The estimated useful lives for premises and equipment assets are as follows:
Premises and Equipment
Years
Buildings
20 - 50
Furniture, fixtures and equipment
3 - 10
Leasehold improvements
Up to 20
ATMs3
The table below presents our Premises and equipment:
December 31,
20252024
Premises and equipment
$1,009 $1,131 
Less: Accumulated depreciation
(532)(569)
Premises and equipment, net
$477 $562 

The table below presents our Depreciation expense:
Year Ended December 31,
202520242023
Depreciation expense(1)
$41 $48 $39 
(1)Included in Occupancy and equipment expense in the Consolidated Statements of (Loss) Income.
v3.25.4
Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2025
Transfers and Servicing [Abstract]  
Schedule of Changes in the Fair Value of Residential First Mortgage MSRs
Changes in the fair value of residential first mortgage servicing rights ("MSRs") were as follows:

Year Ended December 31,
20242023
Balance at beginning of period$1,111 $1,033 
Additions from loans sold with servicing retained184 208 
Reductions from sales(1,194)(51)
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes, and other (1)
(105)(80)
Changes in estimates of fair value due to interest rate risk (1) (2)
30 1 
Fair value of MSRs at end of period$26 $1,111 
(1)Changes in fair value are included within net return on mortgage servicing rights on the Consolidated Statements of (Loss) Income.
(2)Represents estimated MSR value change resulting primarily from market-driven changes which we managed through the use of derivatives.
Schedule of Income and Fees
The following table summarizes income and fees associated with owned mortgage servicing rights:

Year Ended December 31,
20242023
Net return on mortgage servicing rights
Servicing fees, ancillary income and late fees (1)
$202 $227 
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other(105)(80)
Changes in fair value due to interest rate risk30 1 
Gain on MSR derivatives (2)
(54)(47)
Net transaction costs— 2 
Total return (loss) included in net return on mortgage servicing rights$73 $103 
(1)Servicing fees are recorded on an accrual basis. Ancillary income and late fees are recorded on a cash basis.
(2)Changes in the derivatives utilized as economic hedges to offset changes in fair value of the mortgage servicing rights.


The following table summarizes income and fees associated with our mortgage loans subserviced for others:
Year Ended December 31,
20242023
Loan administration income on mortgage loans subserviced
Servicing fees, ancillary income and late fees (1)
$117 $154 
Charges on subserviced custodial balances (2)
(141)(168)
Other servicing charges2(3)
Total income (loss) on mortgage loans subserviced, included in loan administration income$(22)$(17)
(1)Servicing fees are recorded on an accrual basis. Ancillary income and late fees are recorded on a cash basis.
(2)Charges on subserviced custodial balances represent interest due to MSR owner.
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Statistical Disclosure for Banks [Abstract]  
Schedule of Deposit Liabilities, Type
The following table is a summary of our deposits:

December 31,
20252024
Interest-bearing checking and money market accounts$18,233 $20,780 
Savings accounts14,864 14,282 
Certificates of deposit20,843 27,324 
Non-interest-bearing accounts12,060 13,484 
Total deposits$66,000 $75,870 
v3.25.4
Borrowed Funds (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes our borrowed funds:
December 31,
20252024
Short-term borrowings(1)
FHLB advances$4,000 $2,750 
Total short-term borrowings
$4,000 $2,750 
Long-term debt
FHLB advances
$7,151 $10,650 
Junior subordinated debentures585 582 
Subordinated notes448 444 
Total long-term debt
$8,184 $11,676 
Borrowed Funds
$12,184 $14,426 
Weighted average interest rate on short-term borrowings
3.92 %4.67 %
Weighted average interest rate on long-term debt
4.53 %4.94 %
(1)Borrowings with original maturities of one year or less are classified as short-term borrowings.
Schedule of Total Interest Expense
The following table summarizes our total interest expense:

Year Ended December 31,
202520242023
Interest expense on short-term borrowings
$110 $449 $370 
Interest expense on long-term debt
496 768 278 
Total interest expense(1)
$606 $1,217 $648 
(1)This excludes amortization expense of $7 million, $8 million, and $8 million during the years ended December 31, 2025, 2024 and 2023, respectively.
Schedule of Federal Home Loan Bank, Advance, Branch of FHLBank
The contractual maturities and the next call dates of FHLB advances outstanding as of December 31, 2025 were as follows:
Contractual MaturityEarlier of Contractual Maturity or Next Call Date
Amount
Weighted Average Interest Rate
Amount
Weighted Average Interest Rate
2026$7,001 4.10 $7,250 4.08 
20271,500 3.91 1,500 3.91 
20282,400 4.40 2,400 4.40 
2032250 3.50 — — 
Total FHLB advances$11,151 $11,150 
Schedule of Subordinated Borrowing
The following table presents contractual terms of the junior subordinated debentures outstanding as of December 31, 2025:
IssuerInterest Rate of Capital Securities and Debentures
Junior Subordinated Debentures Amount Outstanding
Capital Securities Amount OutstandingDate of Original IssueStated Maturity
New York Community Capital Trust V (BONUSES Units) (1)
6.00 %$148 $142 November 04, 2002November 01, 2051
New York Community Capital Trust X (2)
5.58 %124 120 December 14, 2006December 15, 2036
PennFed Capital Trust III (2)
7.23 %31 30 June 02, 2003June 15, 2033
New York Community Capital Trust XI (2)
5.60 %59 58 April 16, 2007June 30, 2037
Flagstar Statutory Trust II (2)(3)
7.20 %26 25 December 26, 2002December 26, 2032
Flagstar Statutory Trust III (2)(3)
7.42 %26 25 February 19, 2003April 7, 2033
Flagstar Statutory Trust IV (2)(3)
7.20 %26 25 March 19, 2003March 19, 2033
Flagstar Statutory Trust V (2)(3)
6.17 %26 25 December 29, 2004January 07, 2035
Flagstar Statutory Trust VI (2)(3)
6.17 %26 25 March 30, 2005April 7, 2035
Flagstar Statutory Trust VII (2)(3)
5.73 %51 50 March 29, 2005June 15, 2035
Flagstar Statutory Trust VIII (2)(3)
5.67 %26 25 September 22, 2005October 7, 2035
Flagstar Statutory Trust IX (2)(3)
5.43 %26 25 June 28, 2007September 15, 2037
Flagstar Statutory Trust X (2)(3)
6.48 %15 15 August 31, 2007September 15, 2037
Total junior subordinated debentures
$610 $590 
(1)Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002.
(2)Callable at any time.
(3)Excludes Flagstar Bancorp acquisition fair value adjustments of $25 million, which amortizes over the contractual term.
As of December 31, 2025 and December 31, 2024, we had a total of $448 million and $444 million, respectively, of fixed-to-floating rate subordinated notes outstanding:
Date of Original IssueStated MaturityInterest RateOriginal Issue Amount
(1)
November 6, 2018November 6, 20286.928%$300
(2)
October 28, 2020November 1, 20307.764%$150
(1)The interest rate will reset quarterly to an annual interest rate equal to the then-current three-month SOFR plus 304.16 basis points payable quarterly.
(2)The Notes will bear a variable rate tied to SOFR thereafter until maturity. We have the option to redeem all or a part of the Notes beginning on November 1, 2025, and on any subsequent interest payment date.
v3.25.4
Federal, State, and Local Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities
The following table summarizes the components of our net deferred tax asset (liability):

December 31,
20252024
Deferred Tax Assets:
Allowance for credit losses on loans and leases$273 $314 
Acquisition accounting and fair value adjustments on securities (including OTTI)133177 
Right of use liability
113121 
Non-accrual interest 7011 
Compensation and related benefit obligations4754 
Other2927 
Unrealized gains and amortization of mortgage servicing rights
—26 
Accrued expenses
1516 
Net operating loss carryforwards812 
Gross deferred tax assets$688 $758 
Valuation allowance$(4)$(4)
Net deferred tax asset after valuation allowance$684 $754 
Deferred Tax Liabilities:
Leases$(281)$(315)
Fair value adjustments on loans(161)(198)
Right of use asset
(101)(109)
Amortizable intangibles(72)(95)
Prepaid pension cost(44)(37)
Premises and equipment(38)(29)
Other(22)(14)
Acquisition accounting and fair value adjustments on debt(7)(8)
Gross deferred tax liabilities$(726)$(805)
Net deferred tax liability$(42)$(51)
Schedule of Components of the Provision (Benefit) for Income Taxes
The following table presents our income tax (benefit)/expense:

Year Ended December 31,
202520242023
Federal – current$26 $126 $156 
State and local – current16 25 59 
Total current42 151 215 
Federal – deferred(45)(336)(137)
State and local – deferred(18)(75)(49)
Total deferred(63)(411)(186)
Income tax (benefit)/expense reported in net income
(21)(260)29 
Income tax impact reported in stockholders’ equity related to:
Securities available-for-sale66 (24)15 
Pension liability adjustments5 (2)6 
Cash flow hedge(17)12 (14)
Total income taxes$33 $(274)$36 
Schedule of Differences Between the Effective Tax Rate and the Statutory Federal Tax Rate
The following table presents a reconciliation of statutory federal income tax (benefit)/expense to income tax (benefit)/expense reported in net income for the periods indicated:
Year Ended December 31,
202520242023
Statutory federal income tax at 21%
$(42)21.0 %$(289)20.9 %$(10)21.0 %
State and local income taxes, net of federal income tax effect(1)
(2)1.1 %(39)2.9 %8 (16.5)%
Federal tax credits(7)3.4 %(14)1.0 %(31)63.8 %
Nontaxable or nondeductible items
Non-deductible FDIC deposit insurance premiums37 (18.8)%66 (4.8)%16 (33.0)%
Non-taxable or deductible bargain gain— — %25 (1.8)%(447)909.0 %
Non-taxable expense of bank-owned life insurance(10)5.2 %(9)0.7 %(9)18.5 %
Tax exempt income (8)4.2 %(8)0.6 %(6)11.3 %
Effect of tax deductibility of deferred compensation3 (1.4)%3 (0.2)%(3)6.2 %
Non-deductible executive compensation7 (3.5)%— — %— — %
Non-deductible goodwill impairment— — %— — %509 (1035.1)%
Other
— — %6 (0.5)%— (0.8)%
Other, net1 (0.6)%(1)0.1 %2 (4.0)%
Total income tax (benefit)/expense
$(21)10.6 %$(260)18.9 %$29 (59.6)%
(1)States taxes in the following states made up the majority of the category or greater than 50% of the tax effected category:
2025-New York State, New York City, New Jersey, California and Texas
2024-New York State and New York City
2023-New York State, New York City, New Jersey, California, Georgia, Illinois, Florida, Virginia and Arizona
Schedule of Income Taxes Paid
The amount of income taxes paid (net of refunds) is as follows:

Year Ended December 31,
202520242023
US Federal
$— $(8)$9 
US State and Local
State Taxes:
New York State
10 9 13 
New Jersey
(1)1 (2)
California
*1 8 
Illinois
*1 2 
Florida
*2 2 
Maryland
*1 *
Massachusetts
*1 *
Texas
2 2 *
Indiana
*1 1 
Other
— 4 11 
Local Taxes:
New York City
2 **
Total state and local
$13 $23 $35 
Total $13 $15 $44 
*The amount of income taxes paid during the year does not meet the 5% disaggregation threshold.
Schedule of Unrecognized Tax Benefits
The following table summarizes changes in the liability for unrecognized gross tax benefits:

Year Ended December 31,
202520242023
Uncertain tax positions at beginning of year$43 $42 $40 
Additions for tax positions relating to current-year operations1 1 1 
Additions for tax positions relating to prior tax years— — 2 
Subtractions for tax positions relating to prior tax years(1)— (1)
Uncertain tax positions at end of year$43 $43 $42 
Schedule of Income Tax Filings are Currently Under Examination
The following notable income tax filings are currently under examination:

Jurisdiction
Period
Federal income tax
2019-2021
New York State income tax
2010-2021
New York City income tax
2011-2014, 2016-2021
Illinois income tax
2018-2019, 2020-2023
California
2021-2022
v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Based Compensation Expense and Related Tax Benefit
The following table presents total stock-based compensation expense and the related tax benefit for the periods indicated:

Year Ended December 31,
202520242023
Stock-based compensation expense
$61 $54 $48 
Tax benefit
11912
Schedule of Nonvested Restricted Stock Shares Activity
The following table summarizes RSU activity for the period indicated:

Year Ended December 31, 2025
Number of Restricted Stock Awards
Weighted-Average Grant Date Fair Value
Unvested as of January 1, 2025
7,621,331$17.20 
Granted(1)
5,218,85911.57 
Vested(1,962,003)16.48 
Forfeited(3,761,901)14.76 
Unvested as of December 31, 2025
7,116,28614.48 
(1)The number of shares granted during the year ended December 31, 2024 and 2023 were 5,280,114 and 9,995,495, respectively with an average fair value of $10.23 and $10.24 per share on the date of grant, respectively.
Schedule of Share-Based Payment Arrangement, Option, Activity
The following table summarizes stock option activity for the period indicated:

Year Ended December 31, 2025
Stock Options
Number of Options
Weighted-
Average
Exercise Price per Share
Outstanding as of January 1, 2025
12,083,000$8.69 
Granted—— 
Vested
(5,000,000)8.73 
Forfeited
(1,000,000)9.21 
Unvested as of December 31, 2025
6,083,0008.41 
Exercisable as of December 31, 2025
6,250,000
v3.25.4
Derivative and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following tables set forth information regarding our derivative financial instruments:

December 31, 2025December 31, 2024
Fair ValueFair Value
Notional AmountOther AssetsOther LiabilitiesExpiration DatesNotional AmountOther AssetsOther LiabilitiesExpiration Dates
Derivatives designated as hedging instruments:
Interest rate swaps (fair value hedge)
$3,993 $— $— 2027-2029$— $— $— 
Derivatives not designated as hedging instruments:
Rate lock commitments
$241 $4 $1 2026 $563 $3 $3 2025 
Mortgage-backed securities forwards203 — 1 2026 344 7 2 2025 
Interest rate swaps
3,926 19 21 2025-20273,323 15 30 2024-2041
Interest rate caps
2,000 3 — 2028 — — — 
Schedule of Company's Carrying Amounts on our Hedged Loans
The following amounts were recorded in the Consolidated Statements of Condition related to items designated and qualifying as hedged items in a fair value hedging relationship:

December 31, 2025December 31, 2024
 Carrying Amount of Hedged Items  Cumulative Amount of Fair Value Hedging Adjustments Carrying Amount of Hedged Items Cumulative Amount of Fair Value Hedging Adjustments
U.S. treasury obligations$1,016 $14 $— $— 
GSE CMOs1,957 7 — — 
GSE debentures1,297 10 — — 
Debt securities available-for-sale(1)
$4,270 $31 $— $— 
Loans and leases held-for-investment(2)
$5,073 $(2)$5,861 $(18)
(1)During the year ended 2025, 2024, and 2023, the amount recorded in Interest income - Securities and money market investments in the Consolidated Statement of Income was immaterial.
(2)Relates to hedges on multi-family loans that were discontinued in 2024. During the year ended 2025, 2024, and 2023, the amount recorded to Interest income - Loans and leases in the Consolidated Statement of Income was $13 million, $30 million, and $24 million, respectively.
Schedule of Offsetting Liabilities
The tables below present the gross derivative assets and liabilities, and the related cash pledged as collateral as of December 31, 2025 and 2024. No amounts were netted in the Consolidated Statements of Condition.

December 31, 2025
Gross Amounts Not Offset in the Statements of Condition
Financial InstrumentsCash Collateral Pledged (Received)
Derivatives designated hedging instruments:
Interest rate swaps
$— $76 
Derivatives not designated as hedging instruments:
Assets
Interest rate swaps
19 — 
Total derivative assets$19 $— 
Liabilities
Mortgage-backed securities forwards$1 $1 
Interest rate swaps
21 34 
Total derivative liabilities$22 $35 

December 31, 2024
Gross Amounts Not Offset in the Statements of Condition
Financial InstrumentsCash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Mortgage-backed securities forwards$7 $(2)
Interest rate swaptions15 (3)
Total derivative assets$22 $(5)
Liabilities
Mortgage-backed securities forwards$2 $10 
Interest rate swaps
30 47 
Total derivative liabilities$32 $57 
Schedule of Offsetting Assets
The tables below present the gross derivative assets and liabilities, and the related cash pledged as collateral as of December 31, 2025 and 2024. No amounts were netted in the Consolidated Statements of Condition.

December 31, 2025
Gross Amounts Not Offset in the Statements of Condition
Financial InstrumentsCash Collateral Pledged (Received)
Derivatives designated hedging instruments:
Interest rate swaps
$— $76 
Derivatives not designated as hedging instruments:
Assets
Interest rate swaps
19 — 
Total derivative assets$19 $— 
Liabilities
Mortgage-backed securities forwards$1 $1 
Interest rate swaps
21 34 
Total derivative liabilities$22 $35 

December 31, 2024
Gross Amounts Not Offset in the Statements of Condition
Financial InstrumentsCash Collateral Pledged (Received)
Derivatives not designated as hedging instruments:
Assets
Mortgage-backed securities forwards$7 $(2)
Interest rate swaptions15 (3)
Total derivative assets$22 $(5)
Liabilities
Mortgage-backed securities forwards$2 $10 
Interest rate swaps
30 47 
Total derivative liabilities$32 $57 
Schedule of Net Gain (Loss) Recognized in Income on Derivative Instruments
The following table presents the net gain (loss) recognized in income on derivatives not designated as hedging instruments, net of the impact of offsetting positions:

Year Ended December 31,
202520242023
Derivatives not designated as hedging instruments:
Location of Gain (Loss)
FuturesNet return on mortgage servicing rights$— $2 $1 
Interest rate swaps and swaptionsNet return on mortgage servicing rights— (38)(34)
Mortgage-backed securities forwardsNet return on mortgage servicing rights— (18)(15)
Rate lock and Forward commitments
Net gain on loan sales and securitizations
(3)23 2 
Interest rate swaps (1)
Fee income
4 — — 
Interest rate swaps (1)
Other non-interest income— — (1)
Total derivative (loss) gain$1 $(31)$(47)
(1) Includes customer-initiated commercial interest rate swaps.
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash within the Consolidated Statements of Condition that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows:
December 31,

20252024
Cash and due from banks$553 $434 
Interest-earning deposits and other securities with financial institutions5,341 14,996 
Restricted cash included in other assets
83 129 
Total
$5,977 $15,559 
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash within the Consolidated Statements of Condition that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows:
December 31,

20252024
Cash and due from banks$553 $434 
Interest-earning deposits and other securities with financial institutions5,341 14,996 
Restricted cash included in other assets
83 129 
Total
$5,977 $15,559 
v3.25.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
As of December 31, 2025 and December 31, 2024, intangible assets consisted of the following:

December 31, 2025December 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Core deposit intangible$700 $(332)$368 $700 $(229)$471 
Other intangible assets21(8)1326(9)17
Core deposit and other intangibles
$721 $(340)$381 $726 $(238)$488 
Schedule of Finite-Lived Intangible Assets Amortization Expense
The following table presents our amortization expense for the periods indicated:

Year Ended December 31,
202520242023
Amortization expense
$107 $136 $126 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The estimated amortization expense of our CDI and other intangible assets for the next five years and beyond is as follows:

Amortization Expense
2026$93 
202780 
202868 
202955 
203041 
2031 and beyond44 
Total$381 
v3.25.4
Capital (Tables)
 12 Months Ended
Dec. 31, 2025
Broker-Dealer [Abstract]  
Schedule of Regulatory Capital Ratios
The following table sets forth our common equity tier 1, tier 1 risk-based, total risk-based, and leverage capital amounts and ratios, as well as the respective minimum regulatory capital requirements, at that date:

Risk-Based Capital
Common Equity Tier 1Tier 1TotalLeverage Capital
December 31, 2025AmountRatioAmountRatioAmountRatioAmountRatio
Actual capital
$7,845 12.83 %$8,348 13.66 %$9,921 16.23 %$8,348 9.22 %
Minimum for capital adequacy purposes2,751 4.50 3,668 6.00 4,890 8.00 3,623 4.00 
Excess$5,094 8.33 %$4,680 7.66 %$5,031 8.23 %$4,725 5.22 %
December 31, 2024
Actual capital
$7,997 11.83 %$8,501 12.57 %$10,238 15.14 %$8,501 7.68 %
Minimum for capital adequacy purposes3,043 4.50 4,057 6.00 5,409 8.00 4,428 4.00 
Excess$4,954 7.33 %$4,444 6.57 %$4,829 7.14 %$4,073 3.68 %
v3.25.4
Fair Value Measurement (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2025 and December 31, 2024, and that were included in the Consolidated Statements of Condition at those dates:

December 31, 2025
Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)(1)
Total Fair Value
Assets:
Mortgage-related debt securities available-for-sale:
GSE CMOs$— $11,824 $— $11,824 
GSE certificates— 999 — 999 
Private label CMOs— 136 23 159 
Total mortgage-related debt securities$— $12,959 $23 $12,982 
Other debt securities available-for-sale:
GSE debentures$— $1,296 $— $1,296 
U. S. Treasury obligations1,017 — — 1,017 
Asset-backed securities— 213 — 213 
Corporate bonds— 144 — 144 
Municipal bonds, foreign notes, and capital trust
— 49 — 49 
Total other debt securities$1,017 $1,702 $— $2,719 
Total debt securities available-for-sale
$1,017 $14,661 $23 $15,701 
Equity securities:
Mutual funds and common stock$51 $14 $— $65 
Total equity securities$51 $14 $— $65 
Total securities$1,068 $14,675 $23 $15,766 
Loans held for sale
Residential first mortgage loans$— $193 $— $193 
Commercial real estate(2)
— 48 — 48 
Derivative assets
Interest rate swaps
— 19 — 19 
Rate lock commitments (fallout adjustments)
— — 4 4 
Interest rate caps
— 3 — 3 
Total assets at fair value$1,068 $14,938 $27 $16,033 
Derivative liabilities
Interest rate swaps
$— $21 $— $21 
Rate lock commitments
— — 1 1 
Mortgage-backed securities forwards— 1 — 1 
Total liabilities at fair value$— $22 $1 $23 
(1)The change in the fair value due to significant unobservable inputs was immaterial.
(2)Includes ADC loans.
December 31, 2024
Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total Fair Value
Assets:
Mortgage-related debt securities available-for-sale:
GSE CMOs$— $7,304 $— $7,304 
GSE certificates— 1,106 — 1,106 
Private label CMOs— 130 33 163 
Total mortgage-related debt securities$— $8,540 $33 $8,573 
Other debt securities available-for-sale:
GSE debentures$— $1,203 $— $1,203 
Corporate bonds—308—308 
Asset-backed securities—236—236 
Municipal bonds, foreign notes, and capital trust
—82—82 
Total other debt securities$— $1,829 $— $1,829 
Total debt securities available-for-sale
$— $10,369 $33 $10,402 
Equity securities:
Mutual funds and common stock$— $14 $— $14 
Total equity securities$— $14 $— $14 
Loans held for sale
One-to-four family first mortgage$— $382 $— $382 
Commercial real estate(1)
—182 —182 
Derivative assets
Interest rate swaps— 15 — 15 
Mortgage-backed securities forwards— 7 — 7 
Rate lock commitments (fallout adjustments)
— — 3 3 
Mortgage servicing rights— — 26 26 
Total assets at fair value$— $10,969 $62 $11,031 
Derivative liabilities
Interest rate swaps and swaptions$— $30 $— $30 
Rate lock commitments— — 3 3 
Mortgage-backed securities forwards— 2 — 2 
Total liabilities at fair value$— $32 $3 $35 
(1)Includes ADC loans.
Schedule of Roll Forward of Financial Instruments
The following tables include a roll forward of the Consolidated Statements of Condition amounts (including the change in fair value) for financial instruments classified by us within Level 3 of the valuation hierarchy:

Balance at Beginning of Year
Total Gains / (Losses) Recorded in Earnings (1)
Purchases / OriginationsSalesTransfers In (Out)Balance at End of Year
Year Ended December 31, 2024
Assets
Mortgage servicing rights (1)
$1,111 $(75)$184 $(1,194)$— $26 
Private Label collateralized mortgage obligations32 1 — — — 33 
Rate lock commitments (net) (1)(2)
9 5 57 — (71)— 
Totals$1,152 $(69)$241 $(1,194)$(71)$59 
(1)We utilized swaptions, futures, forward agency and loan sales and interest rate swaps to manage the risk associated with mortgage servicing rights and rate lock commitments. Gains and losses for individual lines do not reflect the effect of our risk management activities related to such Level 3 instruments.
(2)Rate lock commitments are reported on a fallout-adjusted basis. Transfers out of Level 3 represent the settlement value of the commitments that are transferred to loans held for sale, which are classified as Level 2 assets.
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis
The following tables present assets that were measured at fair value on a non-recurring basis as of December 31, 2025 and December 31, 2024:

Fair Value Measurements as of December 31, 2025 Using
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair Value
Loans held for investment(1)
$— $— $2,784 $2,784 
Loans held for sale— 24 — 24 
Other assets(2)
— — 31 31 
Total$— $24 $2,815 $2,839 
(1)Represents the fair value of impaired loans, based primarily on the value of the collateral less costs to sell.
(2)Primarily comprised of equity securities without readily determinable fair values.

Fair Value Measurements as of December 31, 2024 Using
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair Value
Loans held for investment(1)
$— $— $2,469 $2,469 
Loans held for sale— 335 — 335 
Other assets(2)
— — 52 52 
Total$— $335 $2,521 $2,856 
(1)Represents the fair value of impaired loans, based primarily on the value of the collateral less costs to sell.
(2)Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity securities without readily determinable fair values. These equity securities are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments
The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Bank’s Consolidated Statements of Condition:

December 31, 2025
Fair Value Measurement Using
Carrying ValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents$5,894 $5,894 $5,894 $— $— 
FHLB and FRB stock (1)
973 973 — 973 — 
Loans and leases held for investment, net(2)
59,702 56,605 — — 56,605 
Financial Liabilities:
Deposits$66,000 $65,991 $45,157 
(3)
$20,834 
(4)
$— 
Borrowed funds12,184 11,972 — 11,972 — 
(1)Carrying value and estimated fair value are at cost.
(2)Carrying value and estimated fair value include impaired loans held for investment.
(3)Includes interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
(4)Includes CDs.

December 31, 2024
Fair Value Measurement Using
Carrying ValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents$15,430 $15,430 $15,430 $— $— 
FHLB and FRB stock (1)
1,146 1,146 — 1,146 — 
Loans and leases held for investment, net(2)
67,071 61,831 — — 61,831 
Financial Liabilities:
Deposits$75,870 $75,894 $48,546 
(3)
$27,348 
(4)
$— 
Borrowed funds14,426 14,217 — 14,217 — 
(1)Carrying value and estimated fair value are at cost.
(2)Carrying value and estimated fair value include impaired loans held for investment.
(3)Includes interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
(4)Includes CDs.
Schedule of Changes in Fair Value included in Earnings - Fair Value Option
Year Ended December 31,
202520242023
Assets
Loans held for sale
Net gain on loan sales$26 $47 $43 
Schedule of Differences between Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance Outstanding - Fair Value Option
The following table reflects the difference between the aggregate fair value and aggregate remaining contractual principal balance outstanding for assets and liabilities for which the fair value option has been elected:

December 31,
20252024
Unpaid Principal BalanceFair ValueFair Value Over / (Under) UPBUnpaid Principal BalanceFair ValueFair Value Over / (Under) UPB
Assets:
Non-accrual loans:
Loans held for sale
$6 $7 $1 $4 $4 $— 
Total non-accrual loans$6 $7 $1 $4 $4 $— 
Accrual loans:
Loans held for sale
$230 $234 $4 $553 $560 $7 
Loans held for investment— — — 67 66 (1)
Total accrual loans
$230 $234 $4 $620 $626 $6 
Total loans:
Loans held for sale
$236 $241 $5 $557 $564 $7 
Loans held for investment— — — 67 66 (1)
Total loans$236 $241 $5 $624 $630 $6 
v3.25.4
Mezzanine and Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Temporary Equity Disclosure [Abstract]  
Schedule of Temporary Equity
December 31, 2025
December 31,
Preferred Stock Series
Shares Authorized (1)
Shares Issued (2)
Shares Outstanding (3)
Par ValueLiquidation Preference Per Share20252024
6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A
5,000,000 515,000 515,000 $0.01 $1,000 $503 $503 
Fixed Rate Perpetual Noncumulative Convertible Series B
267,062 192,062 750 $0.01 $— 1 1 
13.00% Fixed Rate Perpetual Noncumulative Convertible Series C
523,369 — — $0.01 $2,000 $— $— 
Non-Voting Common Equivalent Series D
315,000 45 15 $0.01 $0.0001 $— $— 
(1)As of December 31, 2024, we authorized 5,000,000 shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 267,062 shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, 523,369 shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 315,000 shares of Non-Voting Common Equivalent Series D stock.
(2)As of December 31, 2024, we issued 515,000 shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 192,062 shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, 256,307 shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 45 shares of Non-Voting Common Equivalent Series D stock.
(3)As of December 31, 2024, there were 515,000 outstanding shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 750 outstanding shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, no outstanding shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 15 outstanding shares of Non-Voting Common Equivalent Series D stock.
Schedule of Stock by Class
December 31, 2025
December 31,
Preferred Stock Series
Shares Authorized (1)
Shares Issued (2)
Shares Outstanding (3)
Par ValueLiquidation Preference Per Share20252024
6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A
5,000,000 515,000 515,000 $0.01 $1,000 $503 $503 
Fixed Rate Perpetual Noncumulative Convertible Series B
267,062 192,062 750 $0.01 $— 1 1 
13.00% Fixed Rate Perpetual Noncumulative Convertible Series C
523,369 — — $0.01 $2,000 $— $— 
Non-Voting Common Equivalent Series D
315,000 45 15 $0.01 $0.0001 $— $— 
(1)As of December 31, 2024, we authorized 5,000,000 shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 267,062 shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, 523,369 shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 315,000 shares of Non-Voting Common Equivalent Series D stock.
(2)As of December 31, 2024, we issued 515,000 shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 192,062 shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, 256,307 shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 45 shares of Non-Voting Common Equivalent Series D stock.
(3)As of December 31, 2024, there were 515,000 outstanding shares of 6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A stock, 750 outstanding shares of Fixed Rate Perpetual Noncumulative Convertible Series B stock, no outstanding shares of 13.00% Fixed Rate Perpetual Noncumulative Convertible Series C stock, and 15 outstanding shares of Non-Voting Common Equivalent Series D stock.
v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of the Contractual Amount of Significant Commitments
The following table summarizes our off-balance sheet commitments to originate loans and letters of credit:

December 31,
20252024
Multi-family and commercial real estate(1)
$553 $2,478 
One-to-four family including interest rate locks1,031 725 
Other loan commitments9,099 9,837 
Total loan commitments$10,683 $13,040 
Stand-by letters of credit628 803 
Total commitments(2)
$11,311 $13,843 
(1)Includes ADC loans.
(2)The allowance for unfunded commitments is $55 million and $50 million as of December 31, 2025 and December 31, 2024, respectively, and is included in Other liabilities.
v3.25.4
Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The following table sets forth certain information regarding the Retirement Plan as of the dates indicated:

December 31,
20252024
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year
$106 $115 
Interest cost5 5 
Actuarial (gain) loss
1 (6)
Annuity payments(6)(7)
Settlements(2)(1)
Projected benefit obligation at end of year
$104 $106 
Change in Plan Assets:
Fair value of assets at beginning of year$246 $253 
Actual return on plan assets
34 — 
Annuity payments(6)(6)
Settlements(2)(1)
Fair value of assets at end of year$272 $246 
Funded status (included in Other assets)
$168 $140 
Changes recognized in other comprehensive income (loss) for the year ended December 31:
Amortization of actuarial loss$(3)$(3)
Net actuarial (gain) loss arising during the year(17)10 
Total recognized in other comprehensive income (loss) for the year (pre-tax)
$(20)$7 
Accumulated other comprehensive loss (pre-tax) not yet recognized in net periodic benefit cost at December 31:
Actuarial loss, net$29 $49 
Total accumulated other comprehensive loss (pre-tax)$29 $49 
Schedule of Net Benefit Costs
The components of net periodic pension expense (income) were as follows for the years indicated:

Years Ended December 31,
202520242023
Components of net periodic pension (income):
Interest cost$5 $5 $5 
Expected return on plan assets(16)(17)(14)
Amortization of net actuarial loss3 3 7 
Net periodic pension (income)
$(8)$(9)$(2)
Schedule of Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table indicates the weighted average assumptions used in determining the net periodic benefit cost for the years indicated:

Years Ended December 31,
202520242023
Discount rate5.38 %4.73 %4.92 %
Expected rate of return on plan assets6.75 6.75 6.25 
Schedule of Allocation of Plan Assets The asset allocation guidelines in the table below reflect the plan sponsor’s risk tolerance and long-term objectives for the Plan:
Asset Allocation Parameters by Asset Class
EquityMinimumTargetMaximum
U.S. Large-Cap27%
U.S. Mid/Small-Cap
14%
Non-U.S.14%
Total - Equity45%55%65%
Fixed Income
Long/Intermediate Duration
43%
Money Market/Cash Equivalents
2%
Total - Fixed Income/Cash Equivalents35%45%55%
The following tables present information about the fair value measurements of the investments held by the Retirement Plan as of December 31, 2025 and as of December 31, 2024:

December 31, 2025
TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Equity:
  Large-cap value
$14 $14 $— $— 
  Large-cap core
19 19 — — 
  Mid-cap core
18 18 — — 
  Small-cap core
19 19 — — 
  International growth
26 26 — — 
  International value
13 13 — — 
  Large-cap growth
27 27 — — 
Mutual Funds Fixed Income - Intermediate - Core Plus
110 110 — — 
Common Stock
12 12 — — 
Common/Collective Trust-Equity Large cap value
14 — 14 
$272 $258 $14 $— 

December 31, 2024
TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Equity:
  Large-cap value
$14 $14 $— $— 
  Large-cap core
21 21 — — 
  Mid-cap core
17 17 — — 
  Small-cap core
17 17 — — 
  International growth
18 18 — — 
  International value
12 12 — — 
  Large-cap growth
28 28 — — 
Mutual Funds Fixed Income - Intermediate - Core Plus
96 96 — — 
Common Stock
9 9 — — 
Common/Collective Trust-Equity Large cap value
14 — 14 — 
$246 $232 $14 $— 
Schedule of Defined Benefit Plan, Plan Assets, Allocation
The asset allocations for the Retirement Plan were as follows:

December 31,
20252024
Equity securities60 %61 %
Debt securities40 %39 %
Total100 %100 %
Schedule of Expected Benefit Payments
The following annuity payments, which reflect expected future service, as appropriate, are expected to be paid by the Retirement Plan during the years indicated:

2026$9 
20278 
20288 
20298 
20308 
2031 and thereafter41 
Total$82 
v3.25.4
Description of Business, Organization and Basis of Presentation (Details)
Dec. 31, 2025
state
location
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of locations | location 340
Number of states in which offices are located | state 9
v3.25.4
Summary of Significant Accounting Policies - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Payment performance period threshold 6 months    
Term of contract 20 years    
Pension Plan      
Property, Plant and Equipment [Line Items]      
Expected rate of return on plan assets 6.75% 6.75% 6.25%
Compensation increase percentage 2.50%    
Minimum      
Property, Plant and Equipment [Line Items]      
Term of lease 24 months    
Minimum | Pension Plan      
Property, Plant and Equipment [Line Items]      
Long-term inflation rate 5.00%    
Minimum | Equity securities | Pension Plan      
Property, Plant and Equipment [Line Items]      
Expected rate of return on plan assets 6.00%    
Minimum | Fixed income securities | Pension Plan      
Property, Plant and Equipment [Line Items]      
Expected rate of return on plan assets 3.00%    
Maximum      
Property, Plant and Equipment [Line Items]      
Term of lease 120 months    
Maximum | Pension Plan      
Property, Plant and Equipment [Line Items]      
Long-term inflation rate 7.00%    
Maximum | Equity securities | Pension Plan      
Property, Plant and Equipment [Line Items]      
Expected rate of return on plan assets 8.00%    
Maximum | Fixed income securities | Pension Plan      
Property, Plant and Equipment [Line Items]      
Expected rate of return on plan assets 5.00%    
v3.25.4
Summary of Significant Accounting Policies - Schedule of Premises and Equipment and Estimated Useful Lives (Details)
Dec. 31, 2025
Buildings | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 20 years
Buildings | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 50 years
Furniture, fixtures and equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 3 years
Furniture, fixtures and equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 10 years
Leasehold improvements  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 20 years
ATMs  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 3 years
v3.25.4
Business Combinations - Narrative (Details) - shares
 12 Months Ended
Mar. 31, 2023
Mar. 20, 2023
Dec. 31, 2025
Dec. 31, 2024
Core deposit intangible        
Business Combination [Line Items]        
Estimated useful life     7 years 7 years
Signature Bridge Bank | Core deposit intangible        
Business Combination [Line Items]        
Estimated useful life   10 years    
Signature Bridge Bank | FDIC        
Business Combination [Line Items]        
Shares issued (in shares) 13,010,668      
v3.25.4
Business Combinations - Schedule of Net Assets Acquired (Details) - Signature Bridge Bank
$ in Millions
Mar. 20, 2023
USD ($)
Business Combination [Line Items]  
Net assets acquired as of March 20, 2023 before fair value adjustments $ 2,973
Fair value adjustments:  
Loans (727)
Core deposit and other intangibles 464
Certificates of deposit 27
Other net assets and liabilities 39
FDIC Equity Appreciation Instrument (85)
Deferred tax liability (690)
Bargain purchase gain on Signature Transaction, as initially reported 2,010
Measurement period adjustments, excluding taxes (134)
Change in deferred tax liability 143
As Initially Reported  
Fair value adjustments:  
Bargain purchase gain on Signature Transaction, as initially reported 2,001
Measurement Period Adjustments  
Fair value adjustments:  
Bargain purchase gain on Signature Transaction, as initially reported $ 2,010
v3.25.4
Business Combinations - Schedule of Preliminary Allocation (Details) - Signature Bridge Bank
$ in Millions
Mar. 20, 2023
USD ($)
Business Combination [Line Items]  
Purchase Price consideration $ 85
Fair value of assets acquired:  
Cash & cash equivalents 24,901
Loans held for sale 232
Loans held for investment: 11,741
CDI and other intangible assets 464
Other assets 413
Total assets acquired 37,751
Fair value of liabilities assumed:  
Deposits 33,507
Other liabilities 2,149
Total liabilities assumed 35,656
Fair value of net identifiable assets 2,095
Bargain purchase gain $ 2,010
Business Combination Bargain Purchase Gain Recognized Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag Bargain purchase gain
As Initially Reported  
Business Combination [Line Items]  
Purchase Price consideration $ 85
Fair value of assets acquired:  
Cash & cash equivalents 25,043
Loans held for sale 232
Loans held for investment: 12,218
CDI and other intangible assets 464
Other assets 679
Total assets acquired 38,636
Fair value of liabilities assumed:  
Deposits 33,568
Other liabilities 2,982
Total liabilities assumed 36,550
Fair value of net identifiable assets 2,086
Bargain purchase gain 2,001
Measurement Period Adjustments  
Fair value of liabilities assumed:  
Bargain purchase gain 2,010
Measurement Period Adjustments  
Purchase Price consideration 0
Cash & cash equivalents (142)
Loans held for sale 0
Loans held for investment: (477)
CDI and other intangible assets 0
Other assets (266)
Total assets acquired (885)
Deposits (61)
Other liabilities (833)
Total liabilities assumed (894)
Fair value of net identifiable assets 9
Bargain purchase gain 9
Commercial and industrial  
Fair value of assets acquired:  
Loans held for investment: 9,888
Commercial and industrial | As Initially Reported  
Fair value of assets acquired:  
Loans held for investment: 10,102
Commercial and industrial | Measurement Period Adjustments  
Measurement Period Adjustments  
Loans held for investment: (214)
Commercial real estate  
Fair value of assets acquired:  
Loans held for investment: 1,680
Commercial real estate | As Initially Reported  
Fair value of assets acquired:  
Loans held for investment: 1,942
Commercial real estate | Measurement Period Adjustments  
Measurement Period Adjustments  
Loans held for investment: (262)
Consumer and other  
Fair value of assets acquired:  
Loans held for investment: 173
Consumer and other | As Initially Reported  
Fair value of assets acquired:  
Loans held for investment: 174
Consumer and other | Measurement Period Adjustments  
Measurement Period Adjustments  
Loans held for investment: $ (1)
v3.25.4
Business Combinations - Schedule of PCD Loans Acquired (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 20, 2023
Dec. 31, 2023
Business Combination [Line Items]    
Allowance for credit losses at acquisition   $ (13)
Signature Bridge Bank    
Business Combination [Line Items]    
Par value (UPB) $ 583  
Allowance for credit losses at acquisition (13)  
Non-credit (discount) (76)  
Fair value $ 494  
v3.25.4
Earnings Per Common Share - Schedule of Computation of Basic and Diluted Net Loss Per Share of Common Stock (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Net (loss) income attributable to common stockholders $ (210) $ (1,153) $ (112)
Less: Income allocated to participating securities 0 0 (5)
(Loss) earnings attributable to common stock $ (210) $ (1,153) $ (117)
Weighted average common shares outstanding (in shares) 415,327,556 330,713,517 237,881,183
Basic (loss) earnings per common share (in usd per share) $ (0.50) $ (3.49) $ (0.49)
Dilutive potential common shares (in shares) 0 0 0
Total shares for diluted earnings per common share compensation (in shares) 415,327,556 330,713,517 237,881,183
Diluted (loss) earnings per common share and common share equivalents (in usd per share) $ (0.50) $ (3.49) $ (0.49)
v3.25.4
Earnings per Common Share - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
shares
Earnings Per Share [Abstract]  
Diluted EPS calculation been antidilutive (in shares) 40,125,738
v3.25.4
Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance $ 8,167 $ 8,367 $ 8,824
Other comprehensive income (loss) before reclassification, net of tax 196 26 63
Amounts reclassified from AOCL to (income)/expense, net of tax (45) (67) (42)
Total other comprehensive gain (loss), net of tax 151 (41) 21
Ending balance 8,143 8,167 8,367
Total      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (640) (599) (620)
Total other comprehensive gain (loss), net of tax 151 (41) 21
Ending balance (489) (640) (599)
Securities AFS      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (653) (581) (626)
Other comprehensive income (loss) before reclassification, net of tax 186 (72) 45
Amounts reclassified from AOCL to (income)/expense, net of tax 0 0 0
Total other comprehensive gain (loss), net of tax 186 (72) 45
Ending balance (467) (653) (581)
Cash Flow Hedges      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance 47 10 52
Other comprehensive income (loss) before reclassification, net of tax 0 106 6
Amounts reclassified from AOCL to (income)/expense, net of tax (47) (69) (48)
Total other comprehensive gain (loss), net of tax (47) 37 (42)
Ending balance 0 47 10
Pension and Post-retirement Plans      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (34) (28) (46)
Other comprehensive income (loss) before reclassification, net of tax 10 (8) 12
Amounts reclassified from AOCL to (income)/expense, net of tax 2 2 6
Total other comprehensive gain (loss), net of tax 12 (6) 18
Ending balance $ (22) $ (34) $ (28)
v3.25.4
Accumulated Other Comprehensive Loss - Narrative (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Equity [Abstract]  
Unrealized gains on derivatives $ 47
v3.25.4
Accumulated Other Comprehensive Loss - Schedule of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Interest expense - Borrowed funds $ 2,745 $ 3,801 $ 2,414
Income tax (benefit)/expense 21 260 (29)
General and administrative 307 513 389
Net (loss) income (177) (1,118) (79)
Reclassification from AOCI      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Net (loss) income 45 67 42
Reclassification from AOCI | Cash Flow Hedges:      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Interest expense - Borrowed funds 64 93 65
Income tax (benefit)/expense (17) (24) (17)
Net (loss) income 47 69 48
Reclassification from AOCI | Pension and Post-retirement Plans      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Net (loss) income (2) (2) (6)
Reclassification from AOCI | Amortization of actuarial losses      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Income tax (benefit)/expense 1 1 1
General and administrative $ (3) $ (3) $ (7)
v3.25.4
Investment Securities - Schedule of Investment Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt securities available-for-sale    
Fair Value $ 15,701 $ 10,402
Amortized cost of investment securities 2 3
Interest receivable 58 $ 35
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]   Other assets
Asset pledged as collateral    
Debt securities available-for-sale    
Fair Value 15,400 $ 10,200
Mortgage Backed Securities And Other Securities    
Debt securities available-for-sale    
Amortized Cost 16,310 11,295
Gross Unrealized Gain 91 39
Gross Unrealized Loss 700 932
Fair Value 15,701 10,402
Mortgage- Related Securities    
Debt securities available-for-sale    
Amortized Cost 13,392 9,155
Gross Unrealized Gain 69 33
Gross Unrealized Loss 479 615
Fair Value 12,982 8,573
GSE CMOs    
Debt securities available-for-sale    
Amortized Cost 12,129 7,724
Gross Unrealized Gain 55 27
Gross Unrealized Loss 360 447
Fair Value 11,824 7,304
GSE certificates    
Debt securities available-for-sale    
Amortized Cost 1,116 1,273
Gross Unrealized Gain 2 0
Gross Unrealized Loss 119 167
Fair Value 999 1,106
Private label CMOs    
Debt securities available-for-sale    
Amortized Cost 147 158
Gross Unrealized Gain 12 6
Gross Unrealized Loss 0 1
Fair Value 159 163
Debt Securities    
Debt securities available-for-sale    
Amortized Cost 2,918 2,140
Gross Unrealized Gain 22 6
Gross Unrealized Loss 221 317
Fair Value 2,719 1,829
GSE debentures    
Debt securities available-for-sale    
Amortized Cost 1,502 1,502
Gross Unrealized Gain 0 0
Gross Unrealized Loss 206 299
Fair Value 1,296 1,203
U. S. Treasury obligations    
Debt securities available-for-sale    
Amortized Cost 1,001  
Gross Unrealized Gain 16  
Gross Unrealized Loss 0  
Fair Value 1,017  
Corporate bonds    
Debt securities available-for-sale    
Amortized Cost 147 314
Gross Unrealized Gain 0 0
Gross Unrealized Loss 3 6
Fair Value 144 308
Asset-backed securities    
Debt securities available-for-sale    
Amortized Cost 217 237
Gross Unrealized Gain 0 1
Gross Unrealized Loss 4 2
Fair Value 213 236
Capital trust notes    
Debt securities available-for-sale    
Amortized Cost 47 47
Gross Unrealized Gain 6 5
Gross Unrealized Loss 8 10
Fair Value 45 42
Foreign notes    
Debt securities available-for-sale    
Amortized Cost   35
Gross Unrealized Gain   0
Gross Unrealized Loss   0
Fair Value   35
Municipal bonds    
Debt securities available-for-sale    
Amortized Cost 4 5
Gross Unrealized Gain 0 0
Gross Unrealized Loss 0 0
Fair Value $ 4 $ 5
v3.25.4
Investment Securities - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Available-for-sale securities sold $ 95,000,000 $ 106,000,000 $ 1,600,000,000
Gross realized gains (losses) 0 1,000,000  
Gross realized gains     2,000,000
Gross realized losses     (3,000,000)
Equity securities with readily determinable fair values 65,000,000 14,000,000  
Gain - net gain on investment securities 30,000,000    
Equity securities, gain $ 31,000,000 $ 0 $ 0
v3.25.4
Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]    
Due from one to five years $ 1,359  
Due from five to ten years 1,467  
Due after ten years 12,875  
Total debt securities available-for-sale 15,701 $ 10,402
Mortgage- Related Securities    
Debt Securities, Available-for-sale [Line Items]    
Due from one to five years 148  
Due from five to ten years 210  
Due after ten years 12,624  
Total debt securities available-for-sale 12,982 8,573
U.S. Government and GSE Obligations    
Debt Securities, Available-for-sale [Line Items]    
Due from one to five years 1,083  
Due from five to ten years 1,230  
Due after ten years 0  
Total debt securities available-for-sale 2,313  
Corporate and Other Bonds    
Debt Securities, Available-for-sale [Line Items]    
Due from one to five years 128  
Due from five to ten years 27  
Due after ten years 38  
Total debt securities available-for-sale 193  
Asset-backed securities    
Debt Securities, Available-for-sale [Line Items]    
Due from one to five years 0  
Due from five to ten years 0  
Due after ten years 213  
Total debt securities available-for-sale $ 213 $ 236
v3.25.4
Investment Securities - Schedule of Unrealized Loss Positions on Investment Securities (Details)
$ in Millions
Dec. 31, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
security
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 599 609
Fair Value    
Less than Twelve Months $ 435 $ 1,674
Twelve Months or Longer 5,551 5,592
Total 5,986 7,266
Unrealized Loss    
Less than Twelve Months 1 3
Twelve Months or Longer 699 929
Total $ 700 $ 932
Debt Securities | U.S. Government and GSE Obligations    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 33 33
Fair Value    
Less than Twelve Months $ 0 $ 0
Twelve Months or Longer 1,297 1,203
Total 1,297 1,203
Unrealized Loss    
Less than Twelve Months 0 0
Twelve Months or Longer 206 299
Total $ 206 $ 299
Debt Securities | GSE certificates    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 324 328
Fair Value    
Less than Twelve Months $ 8 $ 38
Twelve Months or Longer 926 1,040
Total 934 1,078
Unrealized Loss    
Less than Twelve Months 0 0
Twelve Months or Longer 119 167
Total $ 119 $ 167
Debt Securities | GSE CMOs    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 226 223
Fair Value    
Less than Twelve Months $ 427 $ 1,636
Twelve Months or Longer 2,993 2,822
Total 3,420 4,458
Unrealized Loss    
Less than Twelve Months 1 3
Twelve Months or Longer 359 444
Total $ 360 $ 447
Debt Securities | Asset-backed securities    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 5 5
Fair Value    
Less than Twelve Months $ 0 $ 0
Twelve Months or Longer 152 154
Total 152 154
Unrealized Loss    
Less than Twelve Months 0 0
Twelve Months or Longer 4 2
Total $ 4 $ 2
Debt Securities | Municipal bonds    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 1 1
Fair Value    
Less than Twelve Months $ 0 $ 0
Twelve Months or Longer 4 5
Total 4 5
Unrealized Loss    
Less than Twelve Months 0 0
Twelve Months or Longer 0 0
Total $ 0 $ 0
Debt Securities | Corporate bonds    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 5 11
Fair Value    
Less than Twelve Months $ 0 $ 0
Twelve Months or Longer 144 308
Total 144 308
Unrealized Loss    
Less than Twelve Months 0 0
Twelve Months or Longer 3 6
Total $ 3 $ 6
Debt Securities | Private Label CMOs    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security   2
Fair Value    
Less than Twelve Months   $ 0
Twelve Months or Longer   17
Total   17
Unrealized Loss    
Less than Twelve Months   0
Twelve Months or Longer   1
Total   $ 1
Debt Securities | Foreign notes    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security   1
Fair Value    
Less than Twelve Months   $ 0
Twelve Months or Longer   10
Total   10
Unrealized Loss    
Less than Twelve Months   0
Twelve Months or Longer   0
Total   $ 0
Debt Securities | Capital trust notes    
Debt Securities, Available-for-sale [Line Items]    
Number of Debt Securities | security 5 5
Fair Value    
Less than Twelve Months $ 0 $ 0
Twelve Months or Longer 35 33
Total 35 33
Unrealized Loss    
Less than Twelve Months 0 0
Twelve Months or Longer 8 10
Total $ 8 $ 10
v3.25.4
Loans and Leases - Schedule of Components (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment $ 60,732 $ 68,272    
Allowance for credit losses on loans and leases (1,030) (1,201) $ (992) $ (393)
Total loans and leases held for investment, net 59,702 67,071    
Loans held for sale 265 899    
Total loans and leases, net 59,967 67,970    
Less: unearned income (129) (169)    
Accrued interest receivable $ 242 $ 277    
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
Asset pledged as collateral        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment $ 31,500 $ 44,600    
Loans held for investment | Multi-family        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment 28,983 34,093    
Allowance for credit losses on loans and leases (549) (639) (307) (178)
Loans held for investment | Commercial real estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment 9,314 11,836    
Allowance for credit losses on loans and leases (229) (304) (402) (67)
Loans held for investment | One-to-four family including interest rate locks        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment 5,630 5,201    
Loans held for investment | Commercial and industrial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment 15,217 15,376    
Allowance for credit losses on loans and leases (150) (150) (131) (38)
Commercial and industrial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses on loans and leases (67) (69) $ (105) $ (64)
Commercial and industrial | Commercial and industrial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment 15,217 15,376    
Commercial and industrial | Other        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment 1,588 1,766    
Commercial and industrial | Lease financing        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases held for investment $ 1,700 $ 2,100    
v3.25.4
Loans and Leases - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Unamortized premiums, discounts, deferred fees and costs $ 430,000,000 $ 583,000,000  
LGG loans 331,000,000 360,000,000  
Interest income recognized on non-accrual loans 0 0 $ 0
Loans 90 days or greater past due and still accruing 0 0  
Residential mortgage loans in process of foreclosure 19,000,000 41,000,000  
Loans held for investment 59,702,000,000 67,071,000,000  
Loans modified 55,000,000 34,000,000 $ 262,000,000
Officers And Directors      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for investment $ 0 $ 1,000,000  
v3.25.4
Loans and Leases - Schedule of Delinquency Status of Our Loans Held for Investment (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable $ 60,732 $ 68,272
Non-Accrual Loans 2,975 2,615
Current    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 56,771 64,692
Loans 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 986 965
Loans held for investment | Multi-family    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 28,983 34,093
Non-Accrual Loans 2,261 1,755
Loans held for investment | Multi-family | Current    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 26,134 31,589
Loans held for investment | Multi-family | Loans 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 588 749
Loans held for investment | Commercial real estate    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 9,314 11,836
Non-Accrual Loans 489 564
Loans held for investment | Commercial real estate | Current    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 8,670 11,202
Loans held for investment | Commercial real estate | Loans 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 155 70
Loans held for investment | One-to-four family first mortgage    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 5,630 5,201
Non-Accrual Loans 64 70
Loans held for investment | One-to-four family first mortgage | Current    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 5,488 5,106
Loans held for investment | One-to-four family first mortgage | Loans 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 78 25
Commercial and industrial | Commercial and industrial loans and lease financing    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 15,217 15,376
Non-Accrual Loans 130 202
Commercial and industrial | Commercial and industrial loans and lease financing | Current    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 14,961 15,064
Commercial and industrial | Commercial and industrial loans and lease financing | Loans 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 126 110
Commercial and industrial | Other    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 1,588 1,766
Non-Accrual Loans 31 24
Commercial and industrial | Other | Current    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable 1,518 1,731
Commercial and industrial | Other | Loans 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due    
Total Loans Receivable $ 39 $ 11
v3.25.4
Loans and Leases - Schedule of Loans Held for Investment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Total $ 60,732 $ 68,272  
Year to date gross charge-offs      
Total (449) (938) $ (223)
Loans held for investment | Multi-family      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 45 19  
Originated year two 15 837  
Originated year three 738 7,929  
Originated year four 7,648 7,776  
Originated year five 7,480 7,649  
Prior year 12,968 9,850  
Revolving Loans 6 33  
Revolving Loans Converted to Term Loans 83 0  
Total 28,983 34,093  
Year to date gross charge-offs      
Originated year one 0 0  
Originated year two 0 0  
Originated year three 0 (28)  
Originated year four (59) (34)  
Originated year five (71) (42)  
Prior year (155) (204)  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total (285) (308) (119)
Loans held for investment | Multi-family | Pass      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 45 17  
Originated year two 15 700  
Originated year three 592 6,599  
Originated year four 5,782 6,070  
Originated year five 5,238 5,203  
Prior year 7,887 3,997  
Revolving Loans 4 27  
Revolving Loans Converted to Term Loans 69 0  
Total 19,632 22,613  
Loans held for investment | Multi-family | Special Mention      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 0  
Originated year two 0 14  
Originated year three 0 688  
Originated year four 754 694  
Originated year five 751 646  
Prior year 546 795  
Revolving Loans 0 1  
Revolving Loans Converted to Term Loans 14 0  
Total 2,065 2,838  
Loans held for investment | Multi-family | Substandard      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 2  
Originated year two 0 123  
Originated year three 134 529  
Originated year four 819 868  
Originated year five 1,132 1,526  
Prior year 2,938 3,834  
Revolving Loans 2 5  
Revolving Loans Converted to Term Loans 0 0  
Total 5,025 6,887  
Loans held for investment | Multi-family | Non-accrual      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 0  
Originated year two 0 0  
Originated year three 12 113  
Originated year four 293 144  
Originated year five 359 274  
Prior year 1,597 1,224  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 2,261 1,755  
Loans held for investment | Commercial real estate      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 489 544  
Originated year two 404 1,438  
Originated year three 1,262 2,096  
Originated year four 1,602 1,321  
Originated year five 1,050 848  
Prior year 3,136 3,376  
Revolving Loans 1,106 1,840  
Revolving Loans Converted to Term Loans 265 373  
Total 9,314 11,836  
Year to date gross charge-offs      
Originated year one 0 0  
Originated year two 0 (8)  
Originated year three (5) (81)  
Originated year four (1) (1)  
Originated year five (7) (27)  
Prior year (28) (349)  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total (41) (466) (56)
Loans held for investment | Commercial real estate | Pass      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 478 542  
Originated year two 373 1,298  
Originated year three 1,053 1,753  
Originated year four 1,297 1,106  
Originated year five 955 576  
Prior year 2,104 2,068  
Revolving Loans 924 1,597  
Revolving Loans Converted to Term Loans 95 367  
Total 7,279 9,307  
Loans held for investment | Commercial real estate | Special Mention      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 10 0  
Originated year two 10 72  
Originated year three 50 130  
Originated year four 88 69  
Originated year five 5 106  
Prior year 154 138  
Revolving Loans 25 120  
Revolving Loans Converted to Term Loans 10 0  
Total 352 635  
Loans held for investment | Commercial real estate | Substandard      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 1 2  
Originated year two 21 31  
Originated year three 147 179  
Originated year four 143 110  
Originated year five 86 162  
Prior year 513 723  
Revolving Loans 124 117  
Revolving Loans Converted to Term Loans 159 6  
Total 1,194 1,330  
Loans held for investment | Commercial real estate | Non-accrual      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 0  
Originated year two 0 37  
Originated year three 12 34  
Originated year four 74 36  
Originated year five 4 4  
Prior year 365 447  
Revolving Loans 33 6  
Revolving Loans Converted to Term Loans 1 0  
Total 489 564  
Loans held for investment | One-to-four family first mortgage      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 939 251  
Originated year two 289 527  
Originated year three 426 2,455  
Originated year four 2,208 871  
Originated year five 792 201  
Prior year 892 809  
Revolving Loans 80 85  
Revolving Loans Converted to Term Loans 4 2  
Total 5,630 5,201  
Year to date gross charge-offs      
Originated year one 0 0  
Originated year two 0 0  
Originated year three 0 (1)  
Originated year four (2) 0  
Originated year five 0 0  
Prior year (2) (7)  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total (4) (8) (4)
Loans held for investment | One-to-four family first mortgage | Pass      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 938 250  
Originated year two 285 521  
Originated year three 415 2,431  
Originated year four 2,178 859  
Originated year five 778 178  
Prior year 682 609  
Revolving Loans 78 80  
Revolving Loans Converted to Term Loans 4 2  
Total 5,358 4,930  
Loans held for investment | One-to-four family first mortgage | Substandard      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 1  
Originated year two 1 2  
Originated year three 4 8  
Originated year four 12 2  
Originated year five 2 16  
Prior year 189 172  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 208 201  
Loans held for investment | One-to-four family first mortgage | Non-accrual      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 1 0  
Originated year two 3 4  
Originated year three 7 16  
Originated year four 18 10  
Originated year five 12 7  
Prior year 21 28  
Revolving Loans 2 5  
Revolving Loans Converted to Term Loans 0 0  
Total 64 70  
Loans held for investment | Commercial and industrial      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 3,639 1,300  
Originated year two 861 2,693  
Originated year three 1,956 2,264  
Originated year four 1,590 736  
Originated year five 530 467  
Prior year 812 798  
Revolving Loans 5,588 5,940  
Revolving Loans Converted to Term Loans 241 1,178  
Total 15,217 15,376  
Year to date gross charge-offs      
Originated year one   (3)  
Originated year two   (20)  
Originated year three   (40)  
Originated year four   (20)  
Originated year five   (19)  
Prior year   (34)  
Revolving Loans   0  
Revolving Loans Converted to Term Loans   0  
Total (87) (136) (30)
Loans held for investment | Commercial and industrial | Pass      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 3,638 1,267  
Originated year two 793 2,609  
Originated year three 1,876 2,014  
Originated year four 1,513 651  
Originated year five 493 450  
Prior year 739 759  
Revolving Loans 5,236 5,554  
Revolving Loans Converted to Term Loans 231 1,164  
Total 14,519 14,468  
Loans held for investment | Commercial and industrial | Special Mention      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 17  
Originated year two 42 29  
Originated year three 7 18  
Originated year four 21 4  
Originated year five 1 2  
Prior year 28 11  
Revolving Loans 127 119  
Revolving Loans Converted to Term Loans 0 6  
Total 226 206  
Loans held for investment | Commercial and industrial | Substandard      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 13  
Originated year two 8 50  
Originated year three 50 72  
Originated year four 35 72  
Originated year five 31 7  
Prior year 16 13  
Revolving Loans 201 265  
Revolving Loans Converted to Term Loans 1 8  
Total 342 500  
Loans held for investment | Commercial and industrial | Non-accrual      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 1 3  
Originated year two 18 5  
Originated year three 23 160  
Originated year four 21 9  
Originated year five 5 8  
Prior year 29 15  
Revolving Loans 24 2  
Revolving Loans Converted to Term Loans 9 0  
Total 130 202  
Commercial and industrial      
Year to date gross charge-offs      
Total (32) (20) $ (14)
Commercial and industrial | Commercial and industrial      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Total 15,217 15,376  
Year to date gross charge-offs      
Originated year one (25)    
Originated year two (1)    
Originated year three (32)    
Originated year four (21)    
Originated year five (5)    
Prior year (3)    
Revolving Loans 0    
Revolving Loans Converted to Term Loans 0    
Total (87)    
Commercial and industrial | Other      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 44 100  
Originated year two 27 29  
Originated year three 21 12  
Originated year four 7 4  
Originated year five 2 2  
Prior year 31 37  
Revolving Loans 1,367 1,461  
Revolving Loans Converted to Term Loans 89 121  
Total 1,588 1,766  
Year to date gross charge-offs      
Originated year one (10) (2)  
Originated year two (2) (4)  
Originated year three (7) (4)  
Originated year four (7) (1)  
Originated year five 0 (1)  
Prior year (6) (8)  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total (32) (20)  
Commercial and industrial | Other | Pass      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 44 100  
Originated year two 27 29  
Originated year three 21 12  
Originated year four 7 4  
Originated year five 2 2  
Prior year 30 32  
Revolving Loans 1,336 1,441  
Revolving Loans Converted to Term Loans 89 121  
Total 1,556 1,741  
Commercial and industrial | Other | Special Mention      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one   0  
Originated year two   0  
Originated year three   0  
Originated year four   0  
Originated year five   0  
Prior year   0  
Revolving Loans   1  
Revolving Loans Converted to Term Loans   0  
Total   1  
Commercial and industrial | Other | Substandard      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0    
Originated year two 0    
Originated year three 0    
Originated year four 0    
Originated year five 0    
Prior year 0    
Revolving Loans 1    
Revolving Loans Converted to Term Loans 0    
Total 1    
Commercial and industrial | Other | Non-accrual      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]      
Originated year one 0 0  
Originated year two 0 0  
Originated year three 0 0  
Originated year four 0 0  
Originated year five 0 0  
Prior year 1 5  
Revolving Loans 30 19  
Revolving Loans Converted to Term Loans 0 0  
Total $ 31 $ 24  
v3.25.4
Loans and Leases - Schedule of Collateral-Dependent Loans Held for Investment (Details) - Collateral Type - Asset pledged as collateral - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Total collateral-dependent loans held for investment $ 2,809 $ 2,419
Loans held for investment | Multi-family    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Total collateral-dependent loans held for investment 2,320 1,817
Loans held for investment | Commercial real estate    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Total collateral-dependent loans held for investment 426 554
Loans held for investment | One-to-four family first mortgage    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Total collateral-dependent loans held for investment 59 48
Commercial and industrial | Commercial and industrial    
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Total collateral-dependent loans held for investment $ 4 $ 0
v3.25.4
Loans and Leases - Schedule of Modifications to Borrowers Experiencing Financial Difficulty (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modified [Line Items]      
Reduced Amortized Cost Basis $ 55 $ 34 $ 262
Contractual Interest Rate Reduction | Loans held for investment | Multi-family      
Financing Receivable, Modified [Line Items]      
Weighted-Average Term (in years)  
Contractual Interest Rate Reduction | Loans held for investment | Multi-family | Minimum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate   8.08% 7.45%
Contractual Interest Rate Reduction | Loans held for investment | Multi-family | Maximum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate   6.00% 6.02%
Contractual Interest Rate Reduction | Loans held for investment | Commercial real estate      
Financing Receivable, Modified [Line Items]      
Weighted-Average Term (in years) 4 months 24 days 3 months 18 days
Contractual Interest Rate Reduction | Loans held for investment | Commercial real estate | Minimum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 0.00% 8.13% 8.83%
Contractual Interest Rate Reduction | Loans held for investment | Commercial real estate | Maximum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 0.00% 6.95% 4.56%
Contractual Interest Rate Reduction | Loans held for investment | One-to-four family first mortgage      
Financing Receivable, Modified [Line Items]      
Weighted-Average Term (in years) 9 years 3 months 18 days 11 years 3 months 18 days
Contractual Interest Rate Reduction | Loans held for investment | One-to-four family first mortgage | Minimum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 7.02% 4.73% 6.08%
Contractual Interest Rate Reduction | Loans held for investment | One-to-four family first mortgage | Maximum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 6.09% 3.80% 4.79%
Contractual Interest Rate Reduction | Loans held for investment | Commercial and industrial      
Financing Receivable, Modified [Line Items]      
Weighted-Average Term (in years) 2 years 9 months 18 days 8 months 12 days 7 months 6 days
Contractual Interest Rate Reduction | Loans held for investment | Commercial and industrial | Minimum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 7.50% 7.73% 8.44%
Contractual Interest Rate Reduction | Loans held for investment | Commercial and industrial | Maximum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 7.25% 6.10% 8.08%
Contractual Interest Rate Reduction | Loans held for investment | Other Consumer      
Financing Receivable, Modified [Line Items]      
Weighted-Average Term (in years) 13 years 2 years 1 month 6 days
Contractual Interest Rate Reduction | Loans held for investment | Other Consumer | Minimum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 10.30% 10.69% 9.09%
Contractual Interest Rate Reduction | Loans held for investment | Other Consumer | Maximum      
Financing Receivable, Modified [Line Items]      
Weighted-Average Contractual Interest Rate 5.97% 3.71% 4.82%
Principal Forgiveness | Loans held for investment | One-to-four family first mortgage      
Financing Receivable, Modified [Line Items]      
Reduced Amortized Cost Basis   $ 1  
v3.25.4
Loans and Leases - Schedule of Experiencing Financial Difficulty that Subsequently Defaulted (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Term Extension      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total $ 18 $ 7 $ 4
Principal Forgiveness      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 0 1 0
Combination - Interest Rate Reduction and Term/Payment Extension/Delay      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 9 1 4
Loans held for investment | Commercial real estate | Term Extension      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total   4  
Loans held for investment | Commercial real estate | Principal Forgiveness      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total   0  
Loans held for investment | Commercial real estate | Combination - Interest Rate Reduction and Term/Payment Extension/Delay      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total   0  
Loans held for investment | One-to-four family first mortgage | Term Extension      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 13 2 4
Loans held for investment | One-to-four family first mortgage | Principal Forgiveness      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 0 1 0
Loans held for investment | One-to-four family first mortgage | Combination - Interest Rate Reduction and Term/Payment Extension/Delay      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 7 1 $ 4
Loans held for investment | Commercial and industrial | Term Extension      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 5 1  
Loans held for investment | Commercial and industrial | Principal Forgiveness      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total 0 0  
Loans held for investment | Commercial and industrial | Combination - Interest Rate Reduction and Term/Payment Extension/Delay      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total $ 2 $ 0  
v3.25.4
Loans and Leases - Schedule of Performance of Loans Modified in Last 12 Months (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modified [Line Items]      
Total $ 55 $ 34 $ 27
Current      
Financing Receivable, Modified [Line Items]      
Total 7 18 8
30 - 89 Past Due      
Financing Receivable, Modified [Line Items]      
Total 7 0 10
90+ Past Due      
Financing Receivable, Modified [Line Items]      
Total 41 16 9
Loans held for investment | Multi-family      
Financing Receivable, Modified [Line Items]      
Total   2  
Loans held for investment | Multi-family | Current      
Financing Receivable, Modified [Line Items]      
Total   2  
Loans held for investment | Multi-family | 30 - 89 Past Due      
Financing Receivable, Modified [Line Items]      
Total   0  
Loans held for investment | Multi-family | 90+ Past Due      
Financing Receivable, Modified [Line Items]      
Total   0  
Loans held for investment | Commercial real estate      
Financing Receivable, Modified [Line Items]      
Total 6 12 1
Loans held for investment | Commercial real estate | Current      
Financing Receivable, Modified [Line Items]      
Total 6 8 1
Loans held for investment | Commercial real estate | 30 - 89 Past Due      
Financing Receivable, Modified [Line Items]      
Total 0 0 0
Loans held for investment | Commercial real estate | 90+ Past Due      
Financing Receivable, Modified [Line Items]      
Total 0 4 0
Loans held for investment | One-to-four family first mortgage      
Financing Receivable, Modified [Line Items]      
Total 42 16 11
Loans held for investment | One-to-four family first mortgage | Current      
Financing Receivable, Modified [Line Items]      
Total 1 8 3
Loans held for investment | One-to-four family first mortgage | 30 - 89 Past Due      
Financing Receivable, Modified [Line Items]      
Total 0 0 0
Loans held for investment | One-to-four family first mortgage | 90+ Past Due      
Financing Receivable, Modified [Line Items]      
Total 41 8 8
Commercial and industrial | Commercial and industrial      
Financing Receivable, Modified [Line Items]      
Total 7 4 13
Commercial and industrial | Commercial and industrial | Current      
Financing Receivable, Modified [Line Items]      
Total 0 0 3
Commercial and industrial | Commercial and industrial | 30 - 89 Past Due      
Financing Receivable, Modified [Line Items]      
Total 7 0 9
Commercial and industrial | Commercial and industrial | 90+ Past Due      
Financing Receivable, Modified [Line Items]      
Total $ 0 $ 4 1
Commercial and industrial | Other Consumer      
Financing Receivable, Modified [Line Items]      
Total     2
Commercial and industrial | Other Consumer | Current      
Financing Receivable, Modified [Line Items]      
Total     1
Commercial and industrial | Other Consumer | 30 - 89 Past Due      
Financing Receivable, Modified [Line Items]      
Total     1
Commercial and industrial | Other Consumer | 90+ Past Due      
Financing Receivable, Modified [Line Items]      
Total     $ 0
v3.25.4
Allowance for Credit Losses on Loans and Leases - Schedule of Activity in the Allowance for Loan and Lease Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses      
Balance, beginning of period $ 1,201 $ 992 $ 393
Adjustment for Purchased PCD Loans     13
Charge-offs (449) (938) (223)
Recoveries 98 46 15
Provision for (recovery of) credit losses on loans and leases 180 1,101 794
Balance, end of period 1,030 1,201 992
Loans held for investment | Multi-family      
Financing Receivable, Allowance for Credit Losses      
Balance, beginning of period 639 307 178
Adjustment for Purchased PCD Loans     0
Charge-offs (285) (308) (119)
Recoveries 50 5 0
Provision for (recovery of) credit losses on loans and leases 145 635 248
Balance, end of period 549 639 307
Loans held for investment | Commercial real estate      
Financing Receivable, Allowance for Credit Losses      
Balance, beginning of period 304 402 67
Adjustment for Purchased PCD Loans     0
Charge-offs (41) (466) (56)
Recoveries 8 8 0
Provision for (recovery of) credit losses on loans and leases (42) 360 391
Balance, end of period 229 304 402
Loans held for investment | One-to-four family first mortgage      
Financing Receivable, Allowance for Credit Losses      
Balance, beginning of period 39 47 46
Adjustment for Purchased PCD Loans     0
Charge-offs (4) (8) (4)
Recoveries 0 5 0
Provision for (recovery of) credit losses on loans and leases 0 (5) 5
Balance, end of period 35 39 47
Loans held for investment | Commercial and industrial      
Financing Receivable, Allowance for Credit Losses      
Balance, beginning of period 150 131 38
Adjustment for Purchased PCD Loans     13
Charge-offs (87) (136) (30)
Recoveries 28 21 10
Provision for (recovery of) credit losses on loans and leases 59 134 100
Balance, end of period 150 150 131
Commercial and industrial      
Financing Receivable, Allowance for Credit Losses      
Balance, beginning of period 69 105 64
Adjustment for Purchased PCD Loans     0
Charge-offs (32) (20) (14)
Recoveries 12 7 5
Provision for (recovery of) credit losses on loans and leases 18 (23) 50
Balance, end of period 67 $ 69 $ 105
Commercial and industrial | Commercial and industrial      
Financing Receivable, Allowance for Credit Losses      
Charge-offs $ (87)    
v3.25.4
Allowance for Credit Losses on Loans and Leases - Narrative (Details)
Dec. 31, 2025
Dec. 31, 2024
Credit Loss [Abstract]    
Allowance for credit loss to loans held for investment ratio 1.70% 1.76%
v3.25.4
Allowance for Credit Losses on Loans and Leases - Schedule of Non-Accrual Loans (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Non-accrual loans with no related allowance: $ 1,537 $ 1,636
Non-accrual loans with an allowance recorded: 1,438 979
Total non-accrual loans 2,975 2,615
Related Allowance 222 164
Loans held for investment | Multi-family    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Non-accrual loans with no related allowance: 1,141 1,092
Non-accrual loans with an allowance recorded: 1,120 663
Total non-accrual loans 2,261 1,755
Related Allowance 99 77
Loans held for investment | Commercial real estate    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Non-accrual loans with no related allowance: 319 429
Non-accrual loans with an allowance recorded: 170 135
Total non-accrual loans 489 564
Related Allowance 60 31
Loans held for investment | One-to-four family first mortgage    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Non-accrual loans with no related allowance: 40 61
Non-accrual loans with an allowance recorded: 24 9
Total non-accrual loans 64 70
Related Allowance 2 1
Commercial and industrial    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Non-accrual loans with no related allowance: 0 3
Non-accrual loans with an allowance recorded: 31 21
Total non-accrual loans 31 24
Related Allowance 29 55
Commercial and industrial | Commercial and industrial    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Non-accrual loans with no related allowance: 37 51
Non-accrual loans with an allowance recorded: 93 151
Total non-accrual loans 130 202
Related Allowance $ 32 $ 0
v3.25.4
Leases - Schedule of Components of Lease Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Interest income on lease financing $ 93 $ 136 $ 119
v3.25.4
Leases, Premises and Equipment - Schedule of Components of Net Investment in Direct Financing Leases (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Lease payments receivable $ 1,534 $ 2,039
Unguaranteed residual assets 266 285
Gross investment in direct financing leases $ 1,800 $ 2,324
v3.25.4
Leases, Premises and Equipment - Schedule of Maturity Analysis of Undiscounted Lease Receivables (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
2026 $ 445  
2027 441  
2028 279  
2029 220  
2030 145  
Thereafter 270  
Gross investment in direct financing leases 1,800  
Plus: deferred origination costs 27  
Less: unearned income (129) $ (169)
Less: purchase accounting adjustment (28)  
Less: other (10)  
Total lease finance receivables, net $ 1,660  
v3.25.4
Leases, Premises and Equipment - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2025
Leases [Abstract]      
Term of contract     20 years
Impairment expense $ 31 $ 46  
v3.25.4
Leases - Schedule of Operating Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease cost $ 77 $ 75 $ 86
v3.25.4
Leases, Premises and Equipment - Schedule of Balance Sheet Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Leases:    
Operating lease right-of-use assets $ 380 $ 416
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Operating lease liabilities $ 427 $ 463
Operating Lease, Liability, Statement of Financial Position [Extensible List] Operating lease liabilities Operating lease liabilities
Weighted average remaining lease term 10 years 1 month 6 days 10 years 8 months 12 days
Weighted average discount rate % 4.79% 4.77%
v3.25.4
Leases, Premises and Equipment - Schedule of Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flow, Lessee [Abstract]      
Operating cash flows from operating leases $ 76 $ 71 $ 64
v3.25.4
Leases, Premises and Equipment - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
2026 $ 70  
2027 64  
2028 57  
2029 51  
2030 44  
Thereafter 261  
Total lease payments 547  
Less: imputed interest (120)  
Total present value of lease liabilities $ 427 $ 463
v3.25.4
Leases, Premises and Equipment - Schedule of Premises and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Premises and equipment $ 1,009 $ 1,131
Less: Accumulated depreciation (532) (569)
Premises and equipment, net $ 477 $ 562
v3.25.4
Leases, Premises and Equipment - Schedule of Depreciation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Depreciation expense $ 41 $ 48 $ 39
v3.25.4
Mortgage Servicing Rights - Schedule of Changes in the Fair Value of Residential First Mortgage MSRs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Servicing Asset at Fair Value [Roll Forward]    
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other $ (105) $ (80)
Changes in estimates of fair value due to interest rate risk $ 30 $ 1
Servicing Asset, Fair Value, Change in Fair Value, Other, Statement of Income or Comprehensive Income [Extensible Enumeration] Mortgage Servicing Rights (MSR) Impairment (Recovery) Mortgage Servicing Rights (MSR) Impairment (Recovery)
Residential First Mortgage    
Servicing Asset at Fair Value [Roll Forward]    
Balance at beginning of period $ 1,111 $ 1,033
Additions from loans sold with servicing retained 184 208
Reductions from sales (1,194) (51)
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other (105) (80)
Changes in estimates of fair value due to interest rate risk 30 1
Fair value of MSRs at end of period $ 26 $ 1,111
v3.25.4
Mortgage Servicing Rights - Schedule of Income and Fees (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Servicing Assets at Fair Value [Line Items]      
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other   $ (105) $ (80)
Changes in fair value due to interest rate risk   30 1
Total return (loss) included in net return on mortgage servicing rights $ 0 73 103
Total income (loss) on mortgage loans subserviced, included in loan administration income   (22) (17)
Residential first mortgage loans      
Servicing Assets at Fair Value [Line Items]      
Servicing fees, ancillary income and late fees   202 227
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other   (105) (80)
Changes in fair value due to interest rate risk   30 1
Gain on MSR derivatives   (54) (47)
Net transaction costs   0 2
Residential first mortgage loans | Loan administration income on mortgage loans subserviced      
Servicing Assets at Fair Value [Line Items]      
Servicing fees, ancillary income and late fees   117 154
Charges on subserviced custodial balances   (141) (168)
Other servicing charges   $ 2 $ (3)
v3.25.4
Mortgage Servicing Rights - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
FDIC Serviced Loans | Loan administration income on mortgage loans subserviced      
Servicing Assets at Fair Value [Line Items]      
Servicing fees, ancillary income and late fees $ 0 $ 10 $ 95
v3.25.4
Variable Interest Entities (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
entity
Dec. 31, 2024
USD ($)
entity
Private-label Securitizations [Line Items]    
Number of variable interest entities | entity 0 0
Fair Value | $ $ 15,701 $ 10,402
Variable Interest Entity, Not Primary Beneficiary    
Private-label Securitizations [Line Items]    
VIE ownership percentage 5.00%  
v3.25.4
Deposits - Schedule of Deposits (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statistical Disclosure for Banks [Abstract]    
Interest-bearing checking and money market accounts $ 18,233 $ 20,780
Savings accounts 14,864 14,282
Certificates of deposit 20,843 27,324
Non-interest-bearing accounts 12,060 13,484
Total deposits $ 66,000 $ 75,870
v3.25.4
Deposits - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statistical Disclosure for Banks [Abstract]    
Aggregate amount of time deposit accounts $ 6,300 $ 12,600
Deposits reclassified $ 30 $ 33
v3.25.4
Borrowed Funds - Schedule of Breakdown of borrowed funds (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument    
Total short-term borrowings $ 4,000 $ 2,750
Total long-term debt 8,184 11,676
Borrowed Funds $ 12,184 $ 14,426
Weighted average interest rate on short-term borrowings 3.92% 4.67%
Weighted average interest rate on long-term debt 4.53% 4.94%
FHLB advances    
Debt Instrument    
Total long-term debt $ 7,151 $ 10,650
Junior subordinated debentures    
Debt Instrument    
Total long-term debt 585 582
Subordinated notes    
Debt Instrument    
Total long-term debt $ 448 $ 444
v3.25.4
Borrowed Funds - Schedule of Interest Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]      
Interest expense on short-term borrowings $ 110 $ 449 $ 370
Interest expense on long-term debt 496 768 278
Total interest expense 606 1,217 648
Amortization expense $ 7 $ 8 $ 8
v3.25.4
Borrowed Funds - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nov. 04, 2002
Debt Instrument        
Interest payable $ 39,000,000 $ 51,000,000    
FHLB lock out term 5 years      
Advances and letters of credit $ 8,300,000,000 7,000,000,000.0    
Warrant or right, coupon rate       6.00%
Warrant term       49 years
Settlement terms, fair value of shares amount $ 183,000,000      
Settlement terms, period 49 years      
Outstanding principal amount $ 212,000,000      
Deferrable term 5 years      
Interest expenses on junior subordinated debentures $ 44,000,000 49,000,000 $ 48,000,000  
Subordinated notes 448,000,000 $ 444,000,000    
New York Community Capital Trust V (BONUSES Units)        
Debt Instrument        
Junior subordinated debentures 148,000,000      
Unamortized discount 92,000,000      
BONUSES Units        
Debt Instrument        
Offering price (in dollars per share)       $ 50.00
Warrant outstanding (in shares)       5,500,000
Warrants proceeds amount       $ 275,000,000
Unamortized discount 64,000,000      
BONUSES Units | New York Community Capital Trust V (BONUSES Units)        
Debt Instrument        
Unamortized discount $ 92,000,000      
v3.25.4
Borrowed Funds - Schedule of Advances (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Amount  
2026 $ 7,001
2027 1,500
2028 2,400
2032 250
Total FHLB advances $ 11,151
Weighted Average Interest Rate  
2026 4.10%
2027 3.91%
2028 4.40%
2032 3.50%
Amount  
2026 $ 7,250
2027 1,500
2028 2,400
2032 0
Total FHLB advances $ 11,150
Weighted Average Interest Rate  
2026 4.08%
2027 3.91%
2028 4.40%
2032 0.00%
v3.25.4
Borrowed Funds - Schedule of Junior Subordinated Debentures (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument    
Capital Securities Amount Outstanding $ 590  
Flagstar Bancorp    
Debt Instrument    
Fair value adjustment (25)  
As Initially Reported    
Debt Instrument    
Junior Subordinated Debentures Amount Outstanding $ 610 $ 610
New York Community Capital Trust V (BONUSES Units)    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 6.00%  
Junior Subordinated Debentures Amount Outstanding $ 148  
Capital Securities Amount Outstanding $ 142  
New York Community Capital Trust X    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 5.58%  
Junior Subordinated Debentures Amount Outstanding $ 124  
Capital Securities Amount Outstanding $ 120  
PennFed Capital Trust III    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 7.23%  
Junior Subordinated Debentures Amount Outstanding $ 31  
Capital Securities Amount Outstanding $ 30  
New York Community Capital Trust XI    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 5.60%  
Junior Subordinated Debentures Amount Outstanding $ 59  
Capital Securities Amount Outstanding $ 58  
Flagstar Statutory Trust II    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 7.20%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust III    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 7.42%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust IV    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 7.20%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust V    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 6.17%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust VI    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 6.17%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust VII    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 5.73%  
Junior Subordinated Debentures Amount Outstanding $ 51  
Capital Securities Amount Outstanding $ 50  
Flagstar Statutory Trust VIII    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 5.67%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust IX    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 5.43%  
Junior Subordinated Debentures Amount Outstanding $ 26  
Capital Securities Amount Outstanding $ 25  
Flagstar Statutory Trust X    
Debt Instrument    
Interest Rate of Capital Securities and Debentures 6.48%  
Junior Subordinated Debentures Amount Outstanding $ 15  
Capital Securities Amount Outstanding $ 15  
v3.25.4
Borrowed Funds - Schedule of Subordinated Notes (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Debt Instrument  
Original Issue Amount $ 212,000,000
Subordinated notes maturing in 2028 | Subordinated notes  
Debt Instrument  
Interest Rate 6.928%
Original Issue Amount $ 300,000,000
Variable rate on spread 3.0416%
Subordinated notes maturing in 2030 | Subordinated notes  
Debt Instrument  
Interest Rate 7.764%
Original Issue Amount $ 150,000,000
v3.25.4
Federal, State, and Local Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred Tax Assets:    
Allowance for credit losses on loans and leases $ 273 $ 314
Acquisition accounting and fair value adjustments on securities (including OTTI) 133 177
Right of use liability 113 121
Non-accrual interest 70 11
Compensation and related benefit obligations 47 54
Other 29 27
Unrealized gains and amortization of mortgage servicing rights 0 26
Accrued expenses 15 16
Net operating loss carryforwards 8 12
Gross deferred tax assets 688 758
Valuation allowance (4) (4)
Net deferred tax asset after valuation allowance 684 754
Deferred Tax Liabilities:    
Leases (281) (315)
Fair value adjustments on loans (161) (198)
Right of use asset (101) (109)
Amortizable intangibles (72) (95)
Prepaid pension cost (44) (37)
Premises and equipment (38) (29)
Other (22) (14)
Acquisition accounting and fair value adjustments on debt (7) (8)
Gross deferred tax liabilities (726) (805)
Net deferred tax liability $ (42) $ (51)
v3.25.4
Federal, State, and Local Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Contingency [Line Items]        
Net deferred tax asset $ 684 $ 754    
Net deferred tax liability 42 51    
Net operating loss carryforwards 8 12    
Total state net operating loss carryforwards 172      
Valuation allowance $ 4 $ 4    
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
Low income housing tax credits $ 296 $ 335    
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Cash Flows [Extensible Enumeration] Income tax (benefit)/expense      
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Income tax (benefit)/expense      
Affordable housing tax credits $ 46 41 $ 34  
Affordable housing tax credit amortization $ 39 37 30  
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Net (loss) income      
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration] Net (loss) income      
Affordable housing tax credit write down $ 0 0 0  
Unrecognized tax benefits 43 43 42 $ 40
Total amount of net unrecognized tax benefits that would have effective tax rate 35 34    
Income tax expense interest and penalties 9 8 $ 8  
Income tax accrued interest expense and penalties 51 $ 42    
Bad debt reserve 62      
Federal deferred tax liability, bad debt reserve 13      
Other Assets        
Income Tax Contingency [Line Items]        
Net deferred tax asset 22      
Other Liabilities        
Income Tax Contingency [Line Items]        
Net deferred tax liability $ 64      
v3.25.4
Federal, State, and Local Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal – current $ 26 $ 126 $ 156
State and local – current 16 25 59
Total current 42 151 215
Federal – deferred (45) (336) (137)
State and local – deferred (18) (75) (49)
Total deferred (63) (411) (186)
Income tax (benefit)/expense reported in net income (21) (260) 29
Income tax impact reported in stockholders’ equity related to:      
Securities available-for-sale 66 (24) 15
Pension liability adjustments 5 (2) 6
Cash flow hedge (17) 12 (14)
Total income taxes $ 33 $ (274) $ 36
v3.25.4
Federal, State, and Local Taxes - Schedule of Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Statutory federal income tax at 21% $ (42) $ (289) $ (10)
State and local income taxes, net of federal income tax effect (2) (39) 8
Federal tax credits (7) (14) (31)
Non-deductible FDIC deposit insurance premiums 37 66 16
Non-taxable or deductible bargain gain 0 25 (447)
Non-taxable expense of bank-owned life insurance (10) (9) (9)
Tax exempt income (8) (8) (6)
Effect of tax deductibility of deferred compensation 3 3 (3)
Non-deductible executive compensation 7 0 0
Non-deductible goodwill impairment 0 0 509
Other 0 6 0
Other, net 1 (1) 2
Income tax (benefit)/expense reported in net income $ (21) $ (260) $ 29
Percent      
Statutory federal income tax at 21% 21.00% 20.90% 21.00%
State and local income taxes, net of federal income tax effect 1.10% 2.90% (16.50%)
Federal tax credits 3.40% 1.00% 63.80%
Non-deductible FDIC deposit insurance premiums (18.80%) (4.80%) (33.00%)
Non-taxable or deductible bargain gain 0.00% (1.80%) 909.00%
Non-taxable expense of bank-owned life insurance 5.20% 0.70% 18.50%
Tax exempt income 4.20% 0.60% 11.30%
Effect of tax deductibility of deferred compensation (1.40%) (0.20%) 6.20%
Non-deductible executive compensation (3.50%) 0.00% 0.00%
Non-deductible goodwill impairment 0.00% 0.00% (1035.10%)
Other 0.00% (0.50%) (0.80%)
Other, net (0.60%) 0.10% (4.00%)
Total income tax (benefit)/expense 10.60% 18.90% (59.60%)
v3.25.4
Federal, State, and Local Taxes - Schedule of Income Taxes Paid Net of Refunds (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Contingency [Line Items]      
US Federal $ 0 $ (8) $ 9
Total state and local 13 23 35
Total 13 15 44
New York State      
Income Tax Contingency [Line Items]      
Total state and local 10 9 13
New Jersey      
Income Tax Contingency [Line Items]      
Total state and local (1) 1 (2)
California      
Income Tax Contingency [Line Items]      
Total state and local   1 8
Illinois      
Income Tax Contingency [Line Items]      
Total state and local   1 2
Florida      
Income Tax Contingency [Line Items]      
Total state and local   2 2
Maryland      
Income Tax Contingency [Line Items]      
Total state and local   1  
Massachusetts      
Income Tax Contingency [Line Items]      
Total state and local   1  
Texas      
Income Tax Contingency [Line Items]      
Total state and local 2 2  
Indiana      
Income Tax Contingency [Line Items]      
Total state and local   1 1
Other      
Income Tax Contingency [Line Items]      
Total state and local 0 $ 4 $ 11
New York City      
Income Tax Contingency [Line Items]      
Total state and local $ 2    
v3.25.4
Federal, State, and Local Taxes - Schedule of Reconciliation of Gross Amounts of Tax Contingencies (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Uncertain tax positions at beginning of year $ 43 $ 42 $ 40
Additions for tax positions relating to current-year operations 1 1 1
Additions for tax positions relating to prior tax years 0 0 2
Subtractions for tax positions relating to prior tax years (1) 0 (1)
Uncertain tax positions at end of year $ 43 $ 43 $ 42
v3.25.4
Stock-Based Compensation - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Non-vested balance (in shares) 7,864,135    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Non-vested balance (in shares) 7,116,286 7,621,331  
Granted (in shares) 5,218,859 5,280,114 9,995,495
Granted (in usd per share) $ 11.57 $ 10.23 $ 10.24
Unrecognized compensation cost $ 69    
Period to be recognized 1 year 10 months 24 days    
Restricted Stock Units (RSUs) | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 1 year    
Restricted Stock Units (RSUs) | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized compensation cost $ 26    
Period to be recognized 1 year 4 months 24 days    
v3.25.4
Stock-Based Compensation - Schedule of Stock Based Compensation Expense and Related Tax Benefit (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]      
Stock-based compensation expense $ 61 $ 54 $ 48
Tax benefit $ 11 $ 9 $ 12
v3.25.4
Stock-Based Compensation - Schedule of Restricted Stock Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of Restricted Stock Awards      
Non-vested balance at end of period (in shares) 7,864,135    
Restricted Stock Units (RSUs)      
Number of Restricted Stock Awards      
Non-vested balance at beginning of period (in shares) 7,621,331    
Granted (in shares) 5,218,859 5,280,114 9,995,495
Vested (in shares) (1,962,003)    
Forfeited (in shares) (3,761,901)    
Non-vested balance at end of period (in shares) 7,116,286 7,621,331  
Weighted-Average Grant Date Fair Value      
Non-vested balance at beginning of period (in usd per share) $ 17.20    
Granted (in usd per share) 11.57 $ 10.23 $ 10.24
Vested (in usd per share) 16.48    
Forfeited (in usd per share) 14.76    
Non-vested balance at end of period (in usd per share) $ 14.48 $ 17.20  
v3.25.4
Stock-Based Compensation - Schedule of Stock Option Activity (Details)
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Options  
Outstanding, beginning balance (in shares) 12,083,000
Granted (in shares) 0
Vested (in shares) (5,000,000)
Forfeited (in shares) (1,000,000)
Unvested, ending balance (in shares) 6,083,000
Exercisable, ending balance (in shares) 6,250,000
Weighted-
Average
Exercise Price per Share  
Outstanding, beginning balance (in dollars per share) | $ / shares $ 8.69
Granted (in dollars per share) | $ / shares 0
Vested (in dollars per share) | $ / shares 8.73
Forfeited (in usd per share) | $ / shares 9.21
Outstanding, ending balance (in dollars per share) | $ / shares $ 8.41
v3.25.4
Derivative and Hedging Activities - Schedule of Notional Amount and Fair Value of Derivative Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives designated as hedging instruments: | Interest rate swaps | Fair value hedging    
Assets    
Notional Amount $ 3,993 $ 0
Derivatives designated as hedging instruments: | Interest rate swaps | Other Assets | Fair value hedging    
Assets    
Fair Value 0 0
Derivatives designated as hedging instruments: | Interest rate swaps | Other Liabilities | Fair value hedging    
Assets    
Fair Value 0 0
Derivatives not designated as hedging instruments: | Interest rate swaps    
Assets    
Notional Amount 3,926 3,323
Derivatives not designated as hedging instruments: | Interest rate swaps | Other Assets    
Assets    
Fair Value 19 15
Derivatives not designated as hedging instruments: | Interest rate swaps | Other Liabilities    
Assets    
Fair Value 21 30
Derivatives not designated as hedging instruments: | Rate lock commitments    
Assets    
Notional Amount 241 563
Derivatives not designated as hedging instruments: | Rate lock commitments | Other Assets    
Assets    
Fair Value 4 3
Derivatives not designated as hedging instruments: | Rate lock commitments | Other Liabilities    
Assets    
Fair Value 1 3
Derivatives not designated as hedging instruments: | Mortgage-backed securities forwards    
Assets    
Notional Amount 203 344
Derivatives not designated as hedging instruments: | Mortgage-backed securities forwards | Other Assets    
Assets    
Fair Value 0 7
Derivatives not designated as hedging instruments: | Mortgage-backed securities forwards | Other Liabilities    
Assets    
Fair Value 1 2
Derivatives not designated as hedging instruments: | Interest rate caps    
Assets    
Notional Amount 2,000 0
Derivatives not designated as hedging instruments: | Interest rate caps | Other Assets    
Assets    
Fair Value 3 0
Derivatives not designated as hedging instruments: | Interest rate caps | Other Liabilities    
Assets    
Fair Value $ 0 $ 0
v3.25.4
Derivative and Hedging Activities - Narrative (Details) - Derivatives designated as hedging instruments: - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Repayment of FHLB loan advances $ 2,000 $ 2,800
Amount of gain recognized in accumulated other comprehensive loss $ 20 28
Interest Rate Swaps, FHLB Advances    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, notional amount   $ 5,500
v3.25.4
Derivative and Hedging Activities - Schedule of Company's Carrying Amounts on our Hedged Loans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Loans and leases $ 3,310 $ 4,369 $ 4,509
U. S. Treasury obligations      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Carrying Amount of Hedged Items 1,016 0  
Cumulative Amount of Fair Value Hedging Adjustments 14 0  
GSE CMOs      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Carrying Amount of Hedged Items 1,957 0  
Cumulative Amount of Fair Value Hedging Adjustments 7 0  
GSE debentures      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Carrying Amount of Hedged Items 1,297 0  
Cumulative Amount of Fair Value Hedging Adjustments 10 0  
Debt securities available-for-sale      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Carrying Amount of Hedged Items 4,270 0  
Cumulative Amount of Fair Value Hedging Adjustments 31 0  
Loans and leases held-for-investment      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Carrying Amount of Hedged Items 5,073 5,861  
Cumulative Amount of Fair Value Hedging Adjustments (2) (18)  
Loans and leases $ 13 $ 30 $ 24
v3.25.4
Derivative and Hedging Activities - Schedule of Derivatives Subject to a Master Netting Arrangement (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives designated as hedging instruments: | Interest rate swaps    
Assets    
Financial Instruments $ 0  
Cash Collateral Pledged (Received) 76  
Derivatives not designated as hedging instruments:    
Assets    
Financial Instruments 19 $ 22
Cash Collateral Pledged (Received) 0 (5)
Liabilities    
Financial Instruments 22 32
Cash Collateral Pledged (Received) 35 57
Derivatives not designated as hedging instruments: | Interest rate swaps    
Assets    
Financial Instruments 19 15
Cash Collateral Pledged (Received) 0 (3)
Derivatives not designated as hedging instruments: | Mortgage-backed securities forwards    
Assets    
Financial Instruments   7
Cash Collateral Pledged (Received)   (2)
Liabilities    
Financial Instruments 1 2
Cash Collateral Pledged (Received) 1 10
Derivatives not designated as hedging instruments: | Interest rate swaps    
Liabilities    
Financial Instruments 21 30
Cash Collateral Pledged (Received) $ 34 $ 47
v3.25.4
Derivative and Hedging Activities - Schedule of Net Gain (Loss) Recognized on Designated Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain $ 1 $ (31) $ (47)
Futures | Net return on mortgage servicing rights      
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain 0 2 1
Interest rate swaps and swaptions | Net return on mortgage servicing rights      
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain 0 (38) (34)
Mortgage-backed securities forwards | Net return on mortgage servicing rights      
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain 0 (18) (15)
Rate lock and Forward commitments | Net gain on loan sales and securitizations      
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain (3) 23 2
Interest rate swaps | Fee income      
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain 4 0 0
Interest rate swaps | Other noninterest income      
Derivative Instruments, Gain (Loss) [Line Items]      
Total derivative (loss) gain $ 0 $ 0 $ (1)
v3.25.4
Derivative and Hedging Activities - Schedule of Restrictions on Cash and Cash Equivalents (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
 [1]
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Cash and due from banks $ 553 $ 434    
Interest-earning deposits and other securities with financial institutions 5,341 14,996    
Restricted cash included in other assets 83 129    
Total $ 5,977 [1] $ 15,559 [1] $ 11,609 $ 2,082
[1] Refer to Note 15 - Derivative and Hedging Activities for our reconciliation of cash, cash equivalents, and restricted cash.
v3.25.4
Intangible Assets - Schedule Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 721 $ 726
Accumulated Amortization (340) (238)
Net Carrying Value 381 488
Core deposit intangible    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 700 700
Accumulated Amortization (332) (229)
Net Carrying Value 368 471
Other intangible assets    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 21 26
Accumulated Amortization (8) (9)
Net Carrying Value $ 13 $ 17
v3.25.4
Intangible Assets - Schedule of Amortization Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 107 $ 136 $ 126
v3.25.4
Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Goodwill impairment $ 0 $ 0 $ 2,426
Core deposit intangible      
Finite-Lived Intangible Assets [Line Items]      
Estimated useful life 7 years 7 years  
Other intangible assets      
Finite-Lived Intangible Assets [Line Items]      
Estimated useful life 5 years 5 years  
v3.25.4
Intangible Assets - Schedule of Future Amortization (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 93
2027 80
2028 68
2029 55
2030 41
2031 and beyond 44
Total $ 381
v3.25.4
Capital (Details) - Parent company
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Common Equity Tier 1    
Total capital, amount $ 7,845,000,000 $ 7,997,000,000
Total capital, ratio 0.1283 0.1183
Minimum for capital adequacy, amount $ 2,751,000,000 $ 3,043,000,000
Minimum for capital adequacy, ratio 0.0450 0.0450
Excess, amount $ 5,094,000,000 $ 4,954,000,000
Excess, ratio 8.33% 7.33%
Tier 1    
Total capital, amount $ 8,348,000,000 $ 8,501,000,000
Total capital, ratio 0.1366 0.1257
Minimum for capital adequacy, amount $ 3,668,000,000 $ 4,057,000,000
Minimum for capital adequacy, ratio 0.0600 0.0600
Excess, amount $ 4,680,000,000 $ 4,444,000,000
Excess, ratio 0.0766 0.0657
Total    
Total capital, amount $ 9,921,000,000 $ 10,238,000,000
Total capital, ratio 0.1623 0.1514
Minimum for capital adequacy, amount $ 4,890,000,000 $ 5,409,000,000
Minimum for capital adequacy, ratio 0.0800 0.0800
Excess, amount $ 5,031,000,000 $ 4,829,000,000
Excess, ratio 0.0823 0.0714
Leverage Capital    
Total capital, amount $ 8,348,000,000 $ 8,501,000,000
Total capital, ratio 0.0922 0.0768
Minimum for capital adequacy, amount $ 3,623,000,000 $ 4,428,000,000
Minimum for capital adequacy, ratio 0.0400 0.0400
Excess, amount $ 4,725,000,000 $ 4,073,000,000
Excess, ratio 5.22% 3.68%
v3.25.4
Fair Value Measurement - Schedule of Financial Instruments Carried at Fair Value (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Total debt securities available-for-sale $ 15,701 $ 10,402
Total equity securities 65 14
Total securities 15,766  
Total assets at fair value 16,033 11,031
Liabilities:    
Total liabilities at fair value 23 35
Commercial real estate    
Assets:    
Loans held for sale 48 182
One-to-four family first mortgage    
Assets:    
Loans held for sale   382
Loans held for investment | Residential first mortgage loans    
Assets:    
Loans held for sale 193  
Interest rate swaps    
Assets:    
Derivative assets 19 15
Liabilities:    
Derivative liabilities 21  
Rate lock commitments (fallout adjustments)    
Assets:    
Derivative assets 4 3
Liabilities:    
Derivative liabilities 1 3
Interest rate caps    
Assets:    
Derivative assets 3  
Mortgage-backed securities forwards    
Assets:    
Derivative assets   7
Liabilities:    
Derivative liabilities 1 2
Mortgage servicing rights    
Assets:    
Mortgage servicing rights   26
Interest rate swaps and swaptions    
Liabilities:    
Derivative liabilities   30
Total debt securities available-for-sale    
Assets:    
Total debt securities available-for-sale 15,701 10,402
Mortgage-related debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 12,982 8,573
GSE CMOs    
Assets:    
Total debt securities available-for-sale 11,824 7,304
GSE certificates    
Assets:    
Total debt securities available-for-sale 999 1,106
Private label CMOs    
Assets:    
Total debt securities available-for-sale 159 163
Other debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 2,719 1,829
GSE debentures    
Assets:    
Total debt securities available-for-sale 1,296 1,203
U. S. Treasury obligations    
Assets:    
Total debt securities available-for-sale 1,017  
Asset-backed securities    
Assets:    
Total debt securities available-for-sale 213 236
Corporate bonds    
Assets:    
Total debt securities available-for-sale 144 308
Municipal bonds, foreign notes, and capital trust    
Assets:    
Total debt securities available-for-sale 49 82
Equity securities:    
Assets:    
Total equity securities 65 14
Mutual funds and common stock    
Assets:    
Total equity securities 65 14
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Assets:    
Total securities 1,068  
Total assets at fair value 1,068 0
Liabilities:    
Total liabilities at fair value 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial real estate    
Assets:    
Loans held for sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | One-to-four family first mortgage    
Assets:    
Loans held for sale   0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans held for investment | Residential first mortgage loans    
Assets:    
Loans held for sale 0  
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps    
Assets:    
Derivative assets 0 0
Liabilities:    
Derivative liabilities 0  
Quoted Prices in Active Markets for Identical Assets (Level 1) | Rate lock commitments (fallout adjustments)    
Assets:    
Derivative assets 0 0
Liabilities:    
Derivative liabilities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate caps    
Assets:    
Derivative assets 0  
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities forwards    
Assets:    
Derivative assets   0
Liabilities:    
Derivative liabilities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage servicing rights    
Assets:    
Mortgage servicing rights   0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps and swaptions    
Liabilities:    
Derivative liabilities   0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Total debt securities available-for-sale    
Assets:    
Total debt securities available-for-sale 1,017 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-related debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE CMOs    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE certificates    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Private label CMOs    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 1,017 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE debentures    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U. S. Treasury obligations    
Assets:    
Total debt securities available-for-sale 1,017  
Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal bonds, foreign notes, and capital trust    
Assets:    
Total debt securities available-for-sale 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities:    
Assets:    
Total equity securities 51 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds and common stock    
Assets:    
Total equity securities 51 0
Significant Other Observable Inputs (Level 2)    
Assets:    
Total securities 14,675  
Total assets at fair value 14,938 10,969
Liabilities:    
Total liabilities at fair value 22 32
Significant Other Observable Inputs (Level 2) | Commercial real estate    
Assets:    
Loans held for sale 48 182
Significant Other Observable Inputs (Level 2) | One-to-four family first mortgage    
Assets:    
Loans held for sale   382
Significant Other Observable Inputs (Level 2) | Loans held for investment | Residential first mortgage loans    
Assets:    
Loans held for sale 193  
Significant Other Observable Inputs (Level 2) | Interest rate swaps    
Assets:    
Derivative assets 19 15
Liabilities:    
Derivative liabilities 21  
Significant Other Observable Inputs (Level 2) | Rate lock commitments (fallout adjustments)    
Assets:    
Derivative assets 0 0
Liabilities:    
Derivative liabilities 0 0
Significant Other Observable Inputs (Level 2) | Interest rate caps    
Assets:    
Derivative assets 3  
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities forwards    
Assets:    
Derivative assets   7
Liabilities:    
Derivative liabilities 1 2
Significant Other Observable Inputs (Level 2) | Mortgage servicing rights    
Assets:    
Mortgage servicing rights   0
Significant Other Observable Inputs (Level 2) | Interest rate swaps and swaptions    
Liabilities:    
Derivative liabilities   30
Significant Other Observable Inputs (Level 2) | Total debt securities available-for-sale    
Assets:    
Total debt securities available-for-sale 14,661 10,369
Significant Other Observable Inputs (Level 2) | Mortgage-related debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 12,959 8,540
Significant Other Observable Inputs (Level 2) | GSE CMOs    
Assets:    
Total debt securities available-for-sale 11,824 7,304
Significant Other Observable Inputs (Level 2) | GSE certificates    
Assets:    
Total debt securities available-for-sale 999 1,106
Significant Other Observable Inputs (Level 2) | Private label CMOs    
Assets:    
Total debt securities available-for-sale 136 130
Significant Other Observable Inputs (Level 2) | Other debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 1,702 1,829
Significant Other Observable Inputs (Level 2) | GSE debentures    
Assets:    
Total debt securities available-for-sale 1,296 1,203
Significant Other Observable Inputs (Level 2) | U. S. Treasury obligations    
Assets:    
Total debt securities available-for-sale 0  
Significant Other Observable Inputs (Level 2) | Asset-backed securities    
Assets:    
Total debt securities available-for-sale 213 236
Significant Other Observable Inputs (Level 2) | Corporate bonds    
Assets:    
Total debt securities available-for-sale 144 308
Significant Other Observable Inputs (Level 2) | Municipal bonds, foreign notes, and capital trust    
Assets:    
Total debt securities available-for-sale 49 82
Significant Other Observable Inputs (Level 2) | Equity securities:    
Assets:    
Total equity securities 14 14
Significant Other Observable Inputs (Level 2) | Mutual funds and common stock    
Assets:    
Total equity securities 14 14
Significant Unobservable Inputs (Level 3)    
Assets:    
Total securities 23  
Total assets at fair value 27 62
Liabilities:    
Total liabilities at fair value 1 3
Significant Unobservable Inputs (Level 3) | Commercial real estate    
Assets:    
Loans held for sale 0 0
Significant Unobservable Inputs (Level 3) | One-to-four family first mortgage    
Assets:    
Loans held for sale   0
Significant Unobservable Inputs (Level 3) | Loans held for investment | Residential first mortgage loans    
Assets:    
Loans held for sale 0  
Significant Unobservable Inputs (Level 3) | Interest rate swaps    
Assets:    
Derivative assets 0 0
Liabilities:    
Derivative liabilities 0  
Significant Unobservable Inputs (Level 3) | Rate lock commitments (fallout adjustments)    
Assets:    
Derivative assets 4 3
Liabilities:    
Derivative liabilities 1 3
Significant Unobservable Inputs (Level 3) | Interest rate caps    
Assets:    
Derivative assets 0  
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities forwards    
Assets:    
Derivative assets   0
Liabilities:    
Derivative liabilities 0 0
Significant Unobservable Inputs (Level 3) | Mortgage servicing rights    
Assets:    
Mortgage servicing rights   26
Significant Unobservable Inputs (Level 3) | Interest rate swaps and swaptions    
Liabilities:    
Derivative liabilities   0
Significant Unobservable Inputs (Level 3) | Total debt securities available-for-sale    
Assets:    
Total debt securities available-for-sale 23 33
Significant Unobservable Inputs (Level 3) | Mortgage-related debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 23 33
Significant Unobservable Inputs (Level 3) | GSE CMOs    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | GSE certificates    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Private label CMOs    
Assets:    
Total debt securities available-for-sale 23 33
Significant Unobservable Inputs (Level 3) | Other debt securities available-for-sale:    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | GSE debentures    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | U. S. Treasury obligations    
Assets:    
Total debt securities available-for-sale 0  
Significant Unobservable Inputs (Level 3) | Asset-backed securities    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Corporate bonds    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Municipal bonds, foreign notes, and capital trust    
Assets:    
Total debt securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Equity securities:    
Assets:    
Total equity securities 0 0
Significant Unobservable Inputs (Level 3) | Mutual funds and common stock    
Assets:    
Total equity securities $ 0 $ 0
v3.25.4
Fair Value Measurement - Schedule of Roll Forward of Financial Instruments (Details) - Significant Unobservable Inputs (Level 3)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance at Beginning of Year $ 1,152
Total Gains / (Losses) Recorded in Earnings (69)
Purchases / Originations 241
Sales (1,194)
Transfers In (Out) (71)
Balance at End of Year $ 59
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Noninterest Income
Mortgage servicing rights  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance at Beginning of Year $ 1,111
Total Gains / (Losses) Recorded in Earnings (75)
Purchases / Originations 184
Sales (1,194)
Transfers In (Out) 0
Balance at End of Year 26
Private Label collateralized mortgage obligations  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance at Beginning of Year 32
Total Gains / (Losses) Recorded in Earnings 1
Purchases / Originations 0
Sales 0
Transfers In (Out) 0
Balance at End of Year 33
Rate lock commitments  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance at Beginning of Year 9
Total Gains / (Losses) Recorded in Earnings 5
Purchases / Originations 57
Sales 0
Transfers In (Out) (71)
Balance at End of Year $ 0
v3.25.4
Fair Value Measurement - Schedule of Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Total assets at fair value $ 16,033 $ 11,031
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Total assets at fair value 1,068 0
Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Total assets at fair value 14,938 10,969
Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Total assets at fair value 27 62
Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loans held for investment 2,784 2,469
Loans held for sale 24 335
Other assets 31 52
Total assets at fair value 2,839 2,856
Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loans held for investment 0 0
Loans held for sale 0 0
Other assets 0 0
Total assets at fair value 0 0
Nonrecurring | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loans held for investment 0 0
Loans held for sale 24 335
Other assets 0 0
Total assets at fair value 24 335
Nonrecurring | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loans held for investment 2,784 2,469
Loans held for sale 0 0
Other assets 31 52
Total assets at fair value $ 2,815 $ 2,521
v3.25.4
Fair Value Measurement - Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Carrying Value    
Financial Assets:    
Cash and cash equivalents $ 5,894 $ 15,430
FHLB and FRB stock 973 1,146
Loans and leases held for investment, net 59,702 67,071
Financial Liabilities:    
Deposits 66,000 75,870
Borrowed funds 12,184 14,426
Estimated Fair Value    
Financial Assets:    
Cash and cash equivalents 5,894 15,430
FHLB and FRB stock 973 1,146
Loans and leases held for investment, net 56,605 61,831
Financial Liabilities:    
Deposits 65,991 75,894
Borrowed funds 11,972 14,217
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Financial Assets:    
Cash and cash equivalents 5,894 15,430
FHLB and FRB stock 0 0
Loans and leases held for investment, net 0 0
Financial Liabilities:    
Deposits 45,157 48,546
Borrowed funds 0 0
Estimated Fair Value | Significant Other Observable Inputs (Level 2)    
Financial Assets:    
Cash and cash equivalents 0 0
FHLB and FRB stock 973 1,146
Loans and leases held for investment, net 0 0
Financial Liabilities:    
Deposits 20,834 27,348
Borrowed funds 11,972 14,217
Estimated Fair Value | Significant Unobservable Inputs (Level 3)    
Financial Assets:    
Cash and cash equivalents 0 0
FHLB and FRB stock 0 0
Loans and leases held for investment, net 56,605 61,831
Financial Liabilities:    
Deposits 0 0
Borrowed funds $ 0 $ 0
v3.25.4
Fair Value Measurement - Schedule of Changes in Fair Value Included in Earnings - Fair Value Option (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value Disclosures [Abstract]      
Net gain on loan sales $ 26 $ 47 $ 43
v3.25.4
Fair Value Measurement - Schedule of Differences Between Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance Outstanding - Fair Value Option (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance $ 236 $ 624
Fair Value 241 630
Fair Value Over / (Under) UPB 5 6
Non-accrual loans:    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 6 4
Fair Value 7 4
Fair Value Over / (Under) UPB 1 0
Accrual loans:    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 230 620
Fair Value 234 626
Fair Value Over / (Under) UPB 4 6
Loans held for sale    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 236 557
Fair Value 241 564
Fair Value Over / (Under) UPB 5 7
Loans held for sale | Non-accrual loans:    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 6 4
Fair Value 7 4
Fair Value Over / (Under) UPB 1 0
Loans held for sale | Accrual loans:    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 230 553
Fair Value 234 560
Fair Value Over / (Under) UPB 4 7
Loans held-for-investment    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 0 67
Fair Value 0 66
Fair Value Over / (Under) UPB 0 (1)
Loans held-for-investment | Accrual loans:    
Fair Value, Option, Quantitative Disclosures    
Unpaid Principal Balance 0 67
Fair Value 0 66
Fair Value Over / (Under) UPB $ 0 $ (1)
v3.25.4
Mezzanine and Stockholders' Equity - Schedule of Preferred and Temporary Equity (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
2025      
Preferred stock $ 503,000,000 $ 503,000,000  
Common stock $ 4,000,000 $ 4,000,000  
Shares Authorized      
Common stock, shares authorized (in shares) 916,666,666 666,666,666  
Shares Issued      
Common stock (in shares) 422,931,277 422,416,178  
Shares Outstanding      
Common stock, shares outstanding (in shares) 415,982,036 414,934,628  
Par Value      
Noncumulative convertible preferred stock (in usd per share) $ 0.01 $ 0.01 $ 0.01
Common stock (in usd per share) $ 0.01 $ 0.01  
6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A      
2025      
Preferred stock $ 503,000,000 $ 503,000,000  
Shares Authorized      
Preferred stock (in shares) 5,000,000 5,000,000  
Shares Issued      
Preferred stock, shares issued (in shares) 515,000 515,000  
Shares Outstanding      
Preferred stock, shares outstanding (in shares) 515,000 515,000  
Par Value      
Preferred stock (in usd per share) $ 0.01    
Liquidation Preference Per Share      
Preferred Stock $ 1,000    
Dividend rate percentage 6.375% 6.375%  
Fixed Rate Perpetual Noncumulative Convertible Series B      
2025      
Preferred stock $ 1,000,000 $ 1,000,000  
Shares Authorized      
Noncumulative convertible preferred stock (in shares) 267,062 267,062  
Shares Issued      
Noncumulative convertible preferred stock (in shares) 192,062 192,062  
Shares Outstanding      
Noncumulative convertible preferred stock (in shares) 750 750  
Par Value      
Noncumulative convertible preferred stock (in usd per share) $ 0.01    
Liquidation Preference Per Share      
Noncumulative convertible preferred stock $ 0    
13.00% Fixed Rate Perpetual Noncumulative Convertible Series C      
2025      
Preferred stock $ 0 $ 0  
Shares Authorized      
Noncumulative convertible preferred stock (in shares) 523,369 523,369  
Shares Issued      
Noncumulative convertible preferred stock (in shares) 0 256,307  
Shares Outstanding      
Noncumulative convertible preferred stock (in shares) 0 0  
Par Value      
Noncumulative convertible preferred stock (in usd per share) $ 0.01    
Liquidation Preference Per Share      
Noncumulative convertible preferred stock $ 2,000    
Dividend rate percentage 13.00% 13.00%  
Non-Voting Common Equivalent Series D      
2025      
Common stock $ 0 $ 0  
Shares Authorized      
Common stock, shares authorized (in shares) 315,000 315,000  
Shares Issued      
Common stock (in shares) 45 45  
Shares Outstanding      
Common stock, shares outstanding (in shares) 15 15  
Par Value      
Common stock (in usd per share) $ 0.01    
Liquidation Preference Per Share      
Common Stock $ 0.0001    
v3.25.4
Mezzanine and Stockholders' Equity - Narrative (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Mar. 17, 2027
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
USD ($)
Nov. 04, 2002
Temporary Equity [Line Items]        
Warrant term       49 years
Treasury stock, acquired, shares (in shares) | shares   10,000,000    
Treasury stock, shares average price (in dollars per share)   $ 28.60    
Treasury stock, acquired, cost | $   $ 286    
Series D Preferred Stock Warrants        
Temporary Equity [Line Items]        
Offering price (in dollars per share)   $ 2,500    
Warrant term   7 years    
Exercise price of the warrants (in dollars per share)   $ 2,479.42    
Forecast        
Temporary Equity [Line Items]        
Dividend payment variable rate 408.26      
6.375% Fixed-to-Floating Rate Perpetual Noncumulative Series A        
Temporary Equity [Line Items]        
Interest in share conversion ratio   0.025    
Liquidation preference per share (in usd per share)   $ 1,000    
Conversion price (in dollars per share)   $ 25    
Dividend rate percentage   6.375% 6.375%  
Dividends | $   $ 33 $ 33  
Preferred stock, par value (in usd per share)   $ 0.01    
Preferred Stock (Par Value: $0.01)        
Temporary Equity [Line Items]        
Dividend rate percentage   6.375%    
Fixed Rate Perpetual Noncumulative Convertible Series B        
Temporary Equity [Line Items]        
Common stock issued upon conversion (in shares) | shares   250,000    
Noncumulative Preferred Stock Series B        
Temporary Equity [Line Items]        
Dividends | $   $ 0 $ 0  
Series D NYCE Stock        
Temporary Equity [Line Items]        
Preferred stock, par value (in usd per share)   $ 0.01    
Series D NYCE Stock | Series D Preferred Stock Warrants        
Temporary Equity [Line Items]        
Convertible stock (in shares) | shares   315,000    
Common Stock (Par Value: $0.01)        
Temporary Equity [Line Items]        
Strike price (in dollars per share)   $ 7.43    
Common Stock (Par Value: $0.01) | Series D Preferred Stock Warrants        
Temporary Equity [Line Items]        
Convertible stock (in shares) | shares   105,000,000    
v3.25.4
Commitments and Contingencies - Schedule of the Contractual Amount of Significant Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Commitments [Line Items]        
Stand-by letters of credit $ 628 $ 803    
Total commitments 11,311 13,843    
Allowance for credit losses on loans and leases 1,030 1,201 $ 992 $ 393
Total loan commitments        
Other Commitments [Line Items]        
Allowance for credit losses on loans and leases 55 50    
Total loan commitments        
Other Commitments [Line Items]        
Total loan commitments 10,683 13,040    
Multi-family and commercial real estate        
Other Commitments [Line Items]        
Total loan commitments 553 2,478    
One-to-four family including interest rate locks        
Other Commitments [Line Items]        
Total loan commitments 1,031 725    
Other loan commitments        
Other Commitments [Line Items]        
Total loan commitments $ 9,099 $ 9,837    
v3.25.4
Commitments and Contingencies - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Interest annually on escrow accounts 2.00%
Restitution and prejudgment interest $ 9.3
v3.25.4
Employee Benefits - Schedule of Obligations (Details) - Pension Plan - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in Projected Benefit Obligation:      
Projected benefit obligation at beginning of year $ 106 $ 115  
Interest cost 5 5 $ 5
Actuarial (gain) loss 1 (6)  
Annuity payments (6) (7)  
Settlements (2) (1)  
Projected benefit obligation at end of year 104 106 115
Change in Plan Assets:      
Fair value of assets at beginning of year 246 253  
Actual return on plan assets 34 0  
Annuity payments (6) (6)  
Settlements (2) (1)  
Fair value of assets at end of year 272 246 $ 253
Funded status (included in Other assets) 168 140  
Changes recognized in other comprehensive income (loss) for the year ended December 31:      
Amortization of actuarial gain (loss) (3) (3)  
Net actuarial (gain) loss arising during the year (17) 10  
Total recognized in other comprehensive income (loss) for the year (pre-tax) (20) 7  
Accumulated other comprehensive loss (pre-tax) not yet recognized in net periodic benefit cost at December 31:      
Actuarial loss, net 29 49  
Total accumulated other comprehensive loss (pre-tax) $ 29 $ 49  
v3.25.4
Employee Benefits - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
401(k) plan contributions by employer $ 22 $ 28 $ 21
Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Accumulated benefit obligation for the retirement plan 104 106  
Unrecognized net actuarial loss 1,000,000    
Amortization of actuarial gain (loss) $ 3 $ 3  
Discount rate 5.16% 5.38%  
v3.25.4
Employee Benefits - Schedule of Net Benefit Costs (Details) - Pension Plan - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Components of net periodic pension (income):      
Interest cost $ 5 $ 5 $ 5
Expected return on plan assets (16) (17) (14)
Amortization of net actuarial loss 3 3 7
Net periodic pension (income) $ (8) $ (9) $ (2)
v3.25.4
Employee Benefits - Schedule of Weighted Average Assumption (Details) - Pension Plan
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Discount rate 5.38% 4.73% 4.92%
Expected rate of return on plan assets 6.75% 6.75% 6.25%
v3.25.4
Employee Benefits - Schedule of Asset Allocation Percentage (Details) - Pension Plan
Dec. 31, 2025
Equity securities  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 55.00%
Equity securities | Minimum  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 45.00%
Equity securities | Maximum  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 65.00%
U.S. Large-Cap  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 27.00%
U.S. Mid/Small-Cap  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 14.00%
Non-U.S.  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 14.00%
Total - Fixed Income/Cash Equivalents  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 45.00%
Total - Fixed Income/Cash Equivalents | Minimum  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 35.00%
Total - Fixed Income/Cash Equivalents | Maximum  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 55.00%
Long/Intermediate Duration  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 43.00%
Money Market/Cash Equivalents  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
Asset Allocation Parameters by Asset Class 2.00%
v3.25.4
Employee Benefits- Schedule of Fair Value of Investments (Details) - Pension Plan - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 272 $ 246 $ 253
Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 258 232  
Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 14 14  
Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Large-cap value      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 14 14  
Large-cap value | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 14 14  
Large-cap value | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Large-cap value | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Large-cap core      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 19 21  
Large-cap core | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 19 21  
Large-cap core | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Large-cap core | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Mid-cap core      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 18 17  
Mid-cap core | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 18 17  
Mid-cap core | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Mid-cap core | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Small-cap core      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 19 17  
Small-cap core | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 19 17  
Small-cap core | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Small-cap core | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
International growth      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 26 18  
International growth | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 26 18  
International growth | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
International growth | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
International value      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 13 12  
International value | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 13 12  
International value | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
International value | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Large-cap growth      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 27 28  
Large-cap growth | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 27 28  
Large-cap growth | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Large-cap growth | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Mutual Funds Fixed Income - Intermediate - Core Plus      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 110 96  
Mutual Funds Fixed Income - Intermediate - Core Plus | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 110 96  
Mutual Funds Fixed Income - Intermediate - Core Plus | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Mutual Funds Fixed Income - Intermediate - Core Plus | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Common Stock      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 12 9  
Common Stock | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 12 9  
Common Stock | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Common Stock | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Common/Collective Trust-Equity Large cap value      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 14 14  
Common/Collective Trust-Equity Large cap value | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Common/Collective Trust-Equity Large cap value | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 14 14  
Common/Collective Trust-Equity Large cap value | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 0  
v3.25.4
Employee Benefits - Schedule of Current Allocations (Details) - Pension Plan
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Current allocations percentage 100.00% 100.00%
Equity securities    
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Current allocations percentage 60.00% 61.00%
Debt securities    
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Current allocations percentage 40.00% 39.00%
v3.25.4
Employee Benefits - Schedule of Expected Future Payments (Details) - Pension Plan
$ in Millions
Dec. 31, 2025
USD ($)
Defined Benefit Plan, Plan Assets, Category [Line Items]  
2026 $ 9
2027 8
2028 8
2029 8
2030 8
2031 and thereafter 41
Total $ 82
v3.25.4
Segment Reporting (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segment 1
Number of operating segment 1