Item 16. Form 10-K Summary

None.

-128-

THE CHARLES SCHWAB CORPORATION

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on February 25, 2026.

			THE CHARLES SCHWAB CORPORATION
			(Registrant)
			BY:			/s/ Richard A. Wurster
						Richard A. Wurster,
						President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated, on February 25, 2026.

Signature / Title						Signature / Title
/s/ Richard A. Wurster						/s/ Michael Verdeschi
Richard A. Wurster,						Michael Verdeschi,
President and Chief Executive Officer and Director (principal executive officer)						Managing Director and Chief Financial Officer (principal financial and accounting officer)
/s/ Charles R. Schwab						/s/ Walter W. Bettinger II
Charles R. Schwab, Co-Chairman of the Board						Walter W. Bettinger II, Co-Chairman of the Board
/s/ John K. Adams, Jr.						/s/ Marianne C. Brown
John K. Adams, Jr., Director						Marianne C. Brown, Director
/s/ Joan T. Dea						/s/ Christopher V. Dodds
Joan T. Dea, Director						Christopher V. Dodds, Director
/s/ Stephen A. Ellis						/s/ Frank C. Herringer
Stephen A. Ellis, Director						Frank C. Herringer, Director
/s/ Gerri K. Martin-Flickinger						/s/ Charles A. Ruffel
Gerri K. Martin-Flickinger, Director						Charles A. Ruffel, Director
/s/ Arun Sarin						/s/ Carrie Schwab-Pomerantz
Arun Sarin, Director						Carrie Schwab-Pomerantz, Director
/s/ Paula A. Sneed
Paula A. Sneed, Director

- 129 -

THE CHARLES SCHWAB CORPORATION

SUPPLEMENTAL INFORMATION
Disclosure			Page
Average Balance Sheets and Net Interest Revenue			F-2
Analysis of Changes in Net Interest Revenue			F-3
Bank Loan Portfolio			F-4
Allowance for Credit Losses on Bank Loans			F-5
Bank Deposits			F-6

F-1

THE CHARLES SCHWAB CORPORATION

Supplemental Financial Data (Unaudited)

(Dollars in Millions)

As a savings and loan holding company, the Company provides the following supplemental information pursuant to Subpart 1400 of Regulation S-K. Other information required by Subpart 1400 of Regulation S-K is presented throughout this Annual Report on Form 10-K.

1. Average Balance Sheets and Net Interest Revenue

For the Year Ended December 31,			2025									2024									2023
			Average						Average			Average						Average			Average						Average
			Balance			Interest			Rate			Balance			Interest			Rate			Balance			Interest			Rate
Assets:
Cash and cash equivalents			$	28,054		$	1,189		4.18		%	$	29,676		$	1,539		5.10		%	$	37,846		$	1,894		4.94		%
Cash and investments segregated			44,359			1,862			4.14		%	28,450			1,443			4.99		%	28,259			1,355			4.73		%
Receivables from brokerage clients (1)			87,300			5,700			6.44		%	70,811			5,420			7.53		%	61,914			4,793			7.64		%
Available for sale securities (2)			74,478			1,538			2.06		%	101,659			2,166			2.12		%	137,178			2,987			2.17		%
Held to maturity securities (2)			139,447			2,386			1.71		%	152,566			2,636			1.72		%	165,634			2,872			1.73		%
Bank loans (3)			50,595			2,168			4.28		%	42,255			1,867			4.42		%	40,234			1,664			4.14		%
Total interest-earning assets			424,233			14,843			3.47		%	425,417			15,071			3.51		%	471,065			15,565			3.28		%
Securities lending revenue						437									330									419
Other interest revenue (1)						224									136									127
Total interest-earning assets			424,233			15,504			3.62		%	425,417			15,537			3.61		%	471,065			16,111			3.39		%
Non-interest-earning assets (4)			38,439									37,643									34,695
Total assets			$	462,672								$	463,060								$	505,760
Liabilities and Stockholders’ Equity:
Bank deposits			$	238,088		$	1,185		0.50		%	$	256,212		$	3,152		1.23		%	$	306,505		$	3,363		1.10		%
Payables to brokers, dealers, and clearing organizations (4)			18,236			701			3.79		%	8,522			372			4.30		%	4,477			147			3.23		%
Payables to brokerage clients (1)			94,884			244			0.26		%	72,776			272			0.37		%	66,842			271			0.41		%
Other short-term borrowings			7,020			324			4.60		%	9,146			504			5.51		%	7,144			375			5.25		%
Federal Home Loan Bank borrowings			7,682			356			4.57		%	23,102			1,245			5.32		%	34,821			1,810			5.14		%
Long-term debt			21,093			836			3.91		%	23,083			846			3.66		%	22,636			715			3.16		%
Total interest-bearing liabilities			387,003			3,646			0.94		%	392,841			6,391			1.62		%	442,425			6,681			1.51		%
Other interest expense (1)						108									2									3
Non-interest-bearing liabilities (4)			26,372									25,651									25,802
Total liabilities (5)			413,375			3,754			0.88		%	418,492			6,393			1.49		%	468,227			6,684			1.41		%
Stockholders’ equity (4)			49,297									44,568									37,533
Total liabilities and stockholders’ equity			$	462,672								$	463,060								$	505,760
Net interest revenue						$	11,750								$	9,144								$	9,427
Net yield on interest-earning assets									2.74		%							2.12		%							1.98		%

(1) Beginning in the fourth quarter of 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from interest-earning assets and funding sources. Average margin loans and average short credits related to these client strategies totaled $2.8 billion for the year ended December 31, 2025. Interest revenue and expense related to these client strategies are presented in other interest revenue and other interest expense, respectively. The amounts and average yields for 2025 have been reclassified and recalculated to reflect this change. Prior-year amounts were not impacted by this change.

(2) Amounts have been calculated based on amortized cost.

(3) Includes average principal balances of nonaccrual loans.

(4) Average balance calculation based on month end balances.

(5) Average rate calculation based on total funding sources.

F-2

THE CHARLES SCHWAB CORPORATION

Supplemental Financial Data (Unaudited)

(Dollars in Millions)

2. Analysis of Changes in Net Interest Revenue

An analysis of the year-to-year changes in the categories of interest revenue and interest expense resulting from changes in volume and rate is as follows:

			2025 Compared to 2024 Increase (Decrease) Due to Change in:																		2024 Compared to 2023 Increase (Decrease) Due to Change in:
			Average Volume						Average Rate						Total						Average Volume						Average Rate						Total
Interest-earning assets:
Cash and cash equivalents (1)			$	(83)					$	(267)					$	(350)					$	(404)					$	49					$	(355)
Cash and investments segregated			794						(375)						419						9						79						88
Receivables from brokerage clients (2)			1,242						(962)						280						680						(53)						627
Available for sale securities (3)			(576)						(52)						(628)						(771)						(50)						(821)
Held to maturity securities (3)			(226)						(24)						(250)						(226)						(10)						(236)
Bank loans (4)			369						(68)						301						84						119						203
Securities lending revenue			—						107						107						—						(89)						(89)
Other interest revenue (2)			—						88						88						—						9						9
Total interest-earning assets			$	1,520					$	(1,553)					$	(33)					$	(628)					$	54					$	(574)
Interest-bearing sources of funds:
Bank deposits			$	(223)					$	(1,744)					$	(1,967)					$	(553)					$	342					$	(211)
Payables to brokers, dealers, and clearing organizations			418						(89)						329						131						94						225
Payables to brokerage clients (2)			82						(110)						(28)						24						(23)						1
Other short-term borrowings			(117)						(63)						(180)						105						24						129
Federal Home Loan Bank borrowings			(820)						(69)						(889)						(602)						37						(565)
Long-term debt			(73)						63						(10)						14						117						131
Other interest expense (2)			—						106						106						—						(1)						(1)
Total sources on which interest is paid			(733)						(1,906)						(2,639)						(881)						590						(291)
Change in net interest revenue			$	2,253					$	353					$	2,606					$	253					$	(536)					$	(283)

Note: Changes that are not due solely to volume or rate have been allocated to rate.

(1) Includes deposits with banks and short-term investments.

(2) Beginning in the fourth quarter of 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from interest-earning assets and funding sources. Interest revenue and expense related to these client strategies are presented in other interest revenue and other interest expense, respectively. The amounts and average yields for 2025 have been reclassified and recalculated to reflect his change. Prior-year amounts were not impacted by this change.

(3) Amounts have been calculated based on amortized cost.

(4) Includes average principal balances of nonaccrual loans.

F-3

THE CHARLES SCHWAB CORPORATION

Supplemental Financial Data (Unaudited)

(Dollars in Millions)

3. Bank Loan Portfolio

The maturities of the bank loan portfolio are as follows:

December 31, 2025			Within 1 year						After 1 year through 5 years						After 5 years through 15 years						After 15 years						Total
Residential real estate:
First Mortgages			$	—					$	35					$	1,106					$	29,343					$	30,484
HELOCs			—						—						76						351						427
Total residential real estate			—						35						1,182						29,694						30,911
Pledged asset lines			26,603						—						—						—						26,603
Other			33						398						38						8						477
Total			$	26,636					$	433					$	1,220					$	29,702					$	57,991

Note: Maturities in the above table are based upon the contractual terms of the loans. Substantially all pledged asset lines are payable on demand. The maturities for HELOCs are based on 30-year loan terms, with an initial draw period of ten years, followed by a 20-year amortizing period.

The interest sensitivity of loans with contractual maturities in excess of one year is as follows:

December 31, 2025			After 1 year through 5 years						After 5 years through 15 years						After 15 years
Loans with floating or adjustable interest rates:
Residential real estate:
First Mortgages			$	—					$	42					$	26,149
HELOCs			—						76						351
Total residential real estate			—						118						26,500
Pledged asset lines			—						—						—
Other			—						—						—
Total loans with floating or adjustable interest rates			—						118						26,500
Loans with predetermined interest rates:
Residential real estate:
First Mortgages			35						1,064						3,194
HELOCs			—						—						—
Total residential real estate			35						1,064						3,194
Pledged asset lines			—						—						—
Other			398						38						8
Total loans with predetermined interest rates			433						1,102						3,202
Total			$	433					$	1,220					$	29,702

Note: Maturities in the above table are based upon the contractual terms of the loans. Substantially all pledged asset lines are payable on demand. The maturities for HELOCs are based on 30-year loan terms, with an initial draw period of ten years, followed by a 20-year amortizing period.

F-4

THE CHARLES SCHWAB CORPORATION

Supplemental Financial Data (Unaudited)

(Dollars in Millions)

4. Allowance for Credit Losses on Bank Loans

The following table presents several credit ratios related to the Company’s bank loans portfolio. See Part II – Item 8 – Note 7 for the values underlying these ratios:

December 31,			2025						2024
Allowance for credit losses to total year-end loans			0.06		%				0.05		%
Nonaccrual loans to total year-end loans			0.07		%				0.08		%
Allowance for credit losses to total nonaccrual year-end loans			84		%				60		%

The following table presents information regarding average loans outstanding during the period and the ratio of net charge-offs (recoveries) during the period to average loans outstanding:

Year Ended December 31,			2025												2024												2023
			Average loans						Net charge-offs (recoveries) to average loans						Average loans						Net charge-offs (recoveries) to average loans						Average loans						Net charge-offs (recoveries) to average loans
Residential real estate:
First Mortgages			$	28,634					—						$	26,531					—						$	25,748					—
HELOCs			421						—						446						—						525						—
Total residential real estate			29,055						—						26,977						—						26,273						—
Pledged asset lines			21,126						—						14,924						—						13,727						—
Other			414						—						354						—						234						—
Total			$	50,595					—						$	42,255					—						$	40,234					—

The increase in the Company’s average loan portfolio in the years presented was driven by growth in First Mortgages and PALs. Growth in these loan types was due in large part to overall growth in Schwab’s client base and net new client assets, as well as an increase in the average loan amount, during the years presented.

The ratio of nonaccrual loans to total year-end loans decreased due to the growth in total year-end loans exceeding the change in nonaccrual loans. The ratios of the allowance for credit losses to year-end loans and nonaccrual loans increased primarily due to the increase in the allowance for credit losses resulting from an increase in projected loss rates in the Company’s bank loans portfolio as discussed in Part II – Item 8 – Note 7.

The following table presents the allocation of the allowance for credit losses on bank loans and loans by category as a percentage of total bank loans. See Part II – Item 8 – Note 7 for loan balances by category and in total.

December 31,			2025												2024
			Allowance for Credit Losses						Percent of loans to total loans						Allowance for Credit Losses						Percent of loans to total loans
Residential real estate:
First Mortgages			$	28					52		%				$	14					61		%
HELOCs			1						1		%				1						1		%
Total residential real estate			29						53		%				15						62		%
Pledged asset lines			—						46		%				—						38		%
Other			7						1		%				6						—
Total			$	36					100		%				$	21					100		%

F-5

THE CHARLES SCHWAB CORPORATION

Supplemental Financial Data (Unaudited)

(Dollars in Millions)

5. Bank Deposits

The following table presents the average amount of, and the average rate paid on, deposit categories that are in excess of ten percent of average total bank deposits:

Year Ended December 31,			2025									2024
			Amount			Rate						Amount			Rate
Analysis of average daily deposits:
Money market and other savings deposits			$	203,770		0.23		%				$	200,074		0.56		%
Time certificates of deposit (1)			—			—						37,390			5.22		%
Total			$	203,770								$	237,464

(1) Time certificates of deposit did not exceed ten percent of average total bank deposits for the year ended December 31, 2025.

As of December 31, 2025 and 2024, uninsured bank deposits totaled approximately $35.2 billion and $32.7 billion, respectively. As of December 31, 2025 and 2024, the Company’s bank deposits did not include any time deposits that were in excess of FDIC insurance limits or otherwise uninsured.

F-6