The company repurchased a significant amount of its common stock, indicating management's belief that the company's shares are undervalued or that it has excess capital to return to shareholders.

The company issued preferred stock, increasing its capital base. The proceeds from this issuance can be used for various corporate purposes, including funding growth initiatives or strengthening the balance sheet.

The company redeemed its Series D preferred stock, potentially to reduce its cost of capital or simplify its capital structure.

The effects of geopolitical instability, such as the wars in Ukraine and the Middle East, may adversely affect the company and create significant risks and uncertainties for its business.

The company operates in a highly competitive industry, which could result in losing business or margin declines and have a material adverse effect on its business, financial condition and results of operations.

There is global concern over the risks of climate change and related environmental sustainability matters. The physical risks of climate change include discrete events, such as flooding and wildfires, and longer-term shifts in climate patterns.

The company is subject to a variety of cybersecurity risks that, if realized, could adversely affect how it conducts its business. The company may be required to expend significant additional resources to continue to modify or enhance its layers of defense, to investigate and remediate any information security vulnerabilities internally.

Volatility and uncertainty related to inflation and the effects of inflation may enhance or contribute to some of the risks of the company's business by negatively impacting its costs and expenses, including increasing funding costs and expenses related to talent acquisition and retention, and negatively impacting consumer demand and client purchasing power for our products and services.

The company's operations are subject to extensive regulation, supervision and examination by the federal banking regulators, as well as the CFPB. As part of the supervisory and examination process, if the company is unsuccessful in meeting the regulatory requirements and supervisory expectations that apply to it, regulatory agencies may from time to time take supervisory actions against it, including actions that may not be publicly disclosed.

Noninterest expense decreased from $5.507 billion in 2023 to $5.234 billion in 2024, primarily driven by other operating expense associated with FDIC deposit insurance, reflecting an estimate of CBNA's special assessment of $31 million and $225 million, respectively, recognized in 2024 and 2023.

The efficiency ratio, a measure of operating expenses as a percentage of total revenue, remained stable at 67.0% compared to 2023.

The company launched a TOP 10 program in 2025 to continue to self-fund investments, indicating a focus on operational efficiency.