Business Combinations (Tables)

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Summary of Preliminary Fair Value of The Identifiable Tangible and Intangible Assets and Liabilities

The following table includes the fair value of consideration transferred and the preliminary fair value of the identifiable tangible and intangible assets and liabilities from MUB:

December 1, 2022 (Dollars in Millions)
Acquisition consideration
Cash	$	5,500
Market value of shares of common stock		2,014
Total consideration transferred at acquisition close date		7,514
Discounted liability to MUFG (a)		2,944
Total	$	10,458
Fair Value of MUB assets and liabilities
Assets
Cash and due from banks	$	17,754
Investment securities		22,725
Loans held for sale		2,220
Loans		53,395
Less allowance for loan losses		(463	)
Net loans		52,932
Premises and equipment		646
Other intangible assets (excluding goodwill)		2,808
Other assets		4,764
Total assets	$	103,849
Liabilities
Deposits	$	86,110
Short-term borrowings		4,773
Long-term debt		2,584
Other liabilities		2,248
Total liabilities		95,715
Less: Net assets	$	8,134
Goodwill	$	2,324

(a) Represents $3.5 billion of noninterest-bearing additional cash held by MUB upon close of the acquisition to be delivered to MUFG on or prior to December 1, 2027, discounted at the Company’s 5-year unsecured borrowing rate as of the acquisition date, per authoritative accounting guidance.