Average investment securities in the first quarter of 2025 were $171.178 billion, $9.9 billion higher than the first quarter of 2024. This increase is attributed to balance sheet positioning and liquidity management strategies.

Average total deposits for the first quarter of 2025 were $506.534 billion, $3.5 billion higher than the first quarter of 2024. The increase was driven by savings deposits, offset by a decrease in noninterest-bearing deposits, indicating a shift in customer preferences.

The company repurchased 3,382,164 shares of common stock during the first quarter of 2025 at an average price of $47.18 per share. This indicates a continued effort to return capital to shareholders.

The efficiency ratio, a measure of operating expenses as a percentage of revenue, improved significantly from 66.4% in Q1 2024 to 60.8% in Q1 2025. This improvement suggests better cost management and operational effectiveness.

The company manages its exposure to changes in interest rates through asset and liability management activities, including the use of derivatives. This proactive approach aims to mitigate potential adverse impacts on earnings and capital.

The company's risk management framework includes a 'three lines of defense' model to establish effective checks and balances. This model aims to ensure risks are appropriately managed and controlled across the organization.

The 10-Q includes a 'Safe Harbor' statement that acknowledges potential material differences between actual results and forward-looking statements due to factors including economic conditions and financial market turbulence.

The 'Safe Harbor' statement also acknowledges potential material differences between actual results and forward-looking statements due to changes to statutes, regulations, or regulatory policies.

The 'Safe Harbor' statement also acknowledges potential material differences between actual results and forward-looking statements due to effects of climate change and related physical and transition risks.

The company manages its credit risk, in part, through diversification of its loan portfolio, which is achieved through limit setting by product type criteria, such as industry, geography and identification of credit concentrations.

Diversification in the credit card portfolio is achieved with broad customer relationship distribution through the Company's and financial institution partners' branches, retail and affinity partners, and digital channels.

The Company is subject to various litigation and regulatory matters that arise from the conduct of its business activities. The Company establishes reserves for such matters when potential losses become probable and can be reasonably estimated.

Noninterest expense in the first quarter of 2025 was $4.2 billion, representing a decrease of $227 million from the first quarter of 2024. The decrease in noninterest expense reflected the impact of merger and integration charges in the prior year, along with lower compensation and employee benefits expense.

Technology and communications expense increased primarily due to investments in infrastructure and technology development. This indicates a focus on improving operational capabilities through technology.

The Company's liquidity risk management process is designed to identify, measure, and manage the Company's funding and liquidity risk to meet its daily funding needs and to address expected and unexpected changes in its funding requirements.

Technology and communications expense increased primarily due to investments in infrastructure and technology development. This indicates a commitment to enhancing technological capabilities.

The Company also maintains a cybersecurity risk program which provides centralized planning and management of related and interdependent work with a focus on risks from cybersecurity threats.

Changes in customer behavior and preferences and the ability to implement technological changes to respond to customer needs and meet competitive demands.

The Company repurchased 3,382,164 shares of common stock during the first quarter of 2025 at an average price of $47.18 per share, reflecting a continued effort to return capital to shareholders.

The Company also manages its capital to exceed regulatory capital requirements for banking organizations. To achieve its capital goals, the Company employs a variety of capital management tools, including dividends, common share repurchases, and the issuance of subordinated debt, non-cumulative perpetual preferred stock, common stock and other capital instruments.

Treasury and Corporate Support includes the Company's investment portfolios, funding, capital management, interest rate risk management, income taxes not allocated to business segments, including most investments in tax-advantaged projects.

The Company's investments in these entities generate a return primarily through the realization of federal and state income tax credits, and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These tax credits are recognized as a reduction of tax expense or, for investments qualifying as investment tax credits, as a reduction to the related investment asset and support the Company's regulatory compliance with the Community Reinvestment Act.

In addition, the Company provides financing to domestic multinational corporations that generate revenue from customers in European countries, transacts with various European banks as counterparties to certain derivative-related activities, and through a subsidiary, manages money market funds that hold certain investments in European sovereign debt.

The Company provides merchant processing and corporate trust services in Europe either directly or through banking affiliations in Europe. Revenue generated from sources in Europe represented approximately 2 percent of the Company's total net revenue for the three months ended March 31, 2025.

The 'Safe Harbor' statement also acknowledges potential material differences between actual results and forward-looking statements due to deterioration in general business and economic conditions or turbulence in domestic or global financial markets.

The 'Safe Harbor' statement also acknowledges potential material differences between actual results and forward-looking statements due to increased competition from both banks and non-banks.

The 'Safe Harbor' statement also acknowledges potential material differences between actual results and forward-looking statements due to impacts of supply chain disruptions, rising inflation, slower growth or a recession.