Cover and table of contents

12K characters. Original on sec.gov · Markdown

Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 001-07511

STATE STREET CORPORATION

(Exact name of Registrant as Specified in its Charter)


MA					04-2456637
(State or other jurisdiction of incorporation)					(I.R.S. Employer Identification No.)
One Congress Street
Boston,	MA				02114
(Address of principal executive offices)					(Zip Code)
		(617)	786-3000
		(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class				Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $1 par value per share				STT	New York Stock Exchange

Depositary Shares, each representing a 1/4,000th ownership interest in a share of				STT.PRG	New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par value per share

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act.


Large accelerated filer			☒						Accelerated filer			☐						Non-accelerated filer			☐						Smaller reporting company			☐
Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The number of shares of the registrant’s common stock outstanding as of April 27, 2026 was 276,767,033.

STATE STREET CORPORATION

QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED

March 31, 2026

TABLE OF CONTENTS


		Page

PART I	FINANCIAL INFORMATION
Item 2	Management's Discussion and Analysis of Financial Condition and Results of Operations	4
	General	4
	Financial Results and Highlights	8
	Consolidated Results of Operations	9
	Total Revenue	9
	Net Interest Income	13
	Provision for Credit Losses	15
	Expenses	15

	Repositioning Charges	16
	Income Tax Expense	16
	Line of Business Information	16
	Investment Servicing	17
	Investment Management	18
	Financial Condition	18
	Investment Securities	19
	Loans	22

	Risk Management	23
	Credit and Counterparty Risk Management	23
	Liquidity Risk Management	23
	Operational Risk Management	26
	Information Technology Risk Management	26
	Market Risk Management	27
	Model Risk Management	30
	Strategic Risk Management	30
	Capital	31
	Off-Balance Sheet Arrangements	38

	Recent Accounting Developments	38
Item 3	Quantitative and Qualitative Disclosures About Market Risk	39
Item 4	Controls and Procedures	39
Item 1	Financial Statements	40
	Consolidated Statement of Income (unaudited)	40
	Consolidated Statement of Comprehensive Income (unaudited)	41
	Consolidated Statement of Condition	42
	Consolidated Statement of Changes in Shareholders' Equity (unaudited)	43
	Consolidated Statement of Cash Flows (unaudited)	44
	Condensed Notes to Consolidated Financial Statements (unaudited)	45
	Note 1. Summary of Significant Accounting Policies	45
	Note 2. Fair Value	46
	Note 3. Investment Securities	49
	Note 4. Loans and Allowance for Credit Losses	53
	Note 5. Goodwill and Other Intangible Assets	58
	Note 6. Other Assets	59

State Street Corporation | 2


	Note 7. Derivative Financial Instruments	59
	Note 8. Offsetting Arrangements	63
	Note 9. Commitments and Guarantees	66
	Note 10. Contingencies	66
	Note 11. Variable Interest Entities	68
	Note 12. Shareholders' Equity	69
	Note 13. Regulatory Capital	71
	Note 14. Net Interest Income	73
	Note 15. Expenses	73
	Note 16. Earnings Per Common Share	74
	Note 17. Line of Business Information	74
	Note 18. Revenue from Contracts with Customers	76
	Note 19. Non-U.S. Activities	77
	Note 20. Subsequent Events	77
	Review Report of Independent Registered Public Accounting Firm	78

PART II	OTHER INFORMATION
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	81
Item 5	Other Information	81
Item 6	Exhibits	82
	Signatures	83

We use acronyms and other defined terms for certain business terms and abbreviations, as defined in the acronyms list and glossary following the consolidated financial statements in this Form 10-Q.

State Street Corporation | 3

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

PART I. FINANCIAL INFORMATION

Next: Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS