|        |
|--------|
|        |
|   |

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

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

|        |
|--------|
|        |
|   |

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |
| Virginia(State or other jurisdiction ofincorporation or organization)          |   | 23-2453088(I.R.S. EmployerIdentification No.) |
|                                                                           |   |   |
| 75 State Street, Boston, Massachusetts(Address of principal executive offices) |   | 02109(Zip Code) |

|                           |
|---------------------------|
|                           |  |  |  |  |  |  |
| Large accelerated filer o |   | Accelerated filer o |   | Non-accelerated filer þ |   | Smaller reporting company o |

|                             |
|-----------------------------|
|                             |  |  |
| Class                       |   | Outstanding at April 30, 2016 |
| Common Stock (no par value) |   | 530,391,043 shares |

----

|         |                                                               |
|---------|---------------------------------------------------------------|
| • | Part I - Item 1: Condensed Consolidated Financial Information |

|         |                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------|
| • | Part I - Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|         |                                          |
|---------|------------------------------------------|
| • | Part I - Item 4: Controls and Procedures |

|         |                            |
|---------|----------------------------|
| • | Part II - Item 6: Exhibits |

----

Table of Contents

|                                                                                                                                        |
|----------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                        |  |
|                                                                                                                                   | Page |
|                                                                                                                                   |   |
| PART I. FINANCIAL INFORMATION                                                                                                          |   |
|                                                                                                                                   |   |
| Item 1. Condensed Consolidated Financial Statements (As Restated)                                                                 |   |
|                                                                                                                                   |   |
| Condensed Consolidated Balance Sheets at March 31, 2016 and December 31, 2015 (As Restated)                                       | 4 |
|                                                                                                                                   |   |
| Condensed Consolidated Statements of Operations for the three-month periods ended March 31, 2016 and 2015 (As Restated)           | 5 |
|                                                                                                                                   |   |
| Condensed Consolidated Statements of Comprehensive Income for the three-month periods ended March 31, 2016 and 2015 (As Restated) | 6 |
|                                                                                                                                   |   |
| Condensed Consolidated Statements of Stockholders' Equity for the three-month periods ended March 31, 2016 and 2015 (As Restated) | 7 |
|                                                                                                                                   |   |
| Condensed Consolidated Statements of Cash Flows for the three-month periods ended March 31, 2016 and 2015 (As Restated)           | 8 |
|                                                                                                                                   |   |
| Notes to Condensed Consolidated Financial Statements                                                                                   | 9 |
|                                                                                                                                   |   |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations                                     | 85 |
|                                                                                                                                   |   |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                                                | 137 |
|                                                                                                                                   |   |
| Item 4. Controls and Procedures                                                                                                        | 137 |
|                                                                                                                                   |   |
| PART II. OTHER INFORMATION                                                                                                             | 143 |
|                                                                                                                                   |   |
| Item 1. Legal Proceedings                                                                                                              | 143 |
|                                                                                                                                   |   |
| Item 1A. Risk Factors                                                                                                                  | 143 |
|                                                                                                                                   |   |
| Item 2. Unregistered Sales of Equity Securities and use of Proceeds                                                                    | 143 |
|                                                                                                                                   |   |
| Item 3. Defaults upon Senior Disclosures                                                                                               | 143 |
|                                                                                                                                   |   |
| Item 4. Mine Safety Disclosures                                                                                                        | 143 |
|                                                                                                                                   |   |
| Item 5. Other Information                                                                                                         | 143 |
|                                                                                                                                   |   |
| Item 6. Exhibits                                                                                                                       | 144 |
|                                                                                                                                   |   |
| SIGNATURES                                                                                                                             | 145 |
|                                                                                                                                   |   |
|                                                                                                                                   |   |
|  Ex-31.1 Certification                                                                                                            |
|  Ex-31.2 Certification                                                                                                            |
|  Ex-32.1 Certification                                                                                                            |
|  Ex-32.2 Certification                                                                                                            |
|  EX-101 INSTANCE DOCUMENT                                                                                                         |
|  EX-101 SCHEMA DOCUMENT                                                                                                           |
|  EX-101 CALCULATION LINKBASE DOCUMENT                                                                                             |
|  EX-101 LABELS LINKBASE DOCUMENT                                                                                                  |
|  EX-101 PRESENTATION LINKBASE DOCUMENT                                                                                            |
|  EX-101 DEFINITION LINKBASE DOCUMENT                                                                                              |

----

Table of Contents

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the effects of regulation and policies of the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the "FDIC"), the Office of the Comptroller of the Currency (the “OCC”) and the Consumer Financial Protection Bureau (the “CFPB”), including changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve, the failure to adhere to which could subject SHUSA to formal or informal regulatory compliance and enforcement actions; |

|         |                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the strength of the United States economy in general and regional and local economies in which SHUSA conducts operations in particular, which may affect, among other things, the level of non-performing assets, charge-offs, and provisions for credit losses; |

|         |                                                                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | continued residual effects of recessionary conditions and uneven spread of positive impacts of recovery on the U.S. economy and SHUSA's counterparties, including adverse impacts on levels of unemployment, loan utilization rates, delinquencies, defaults and counterparties' ability to meet credit and other obligations; |

|         |                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the ability of certain European member countries to continue to service their debt and the risk that a weakened European economy could negatively affect U.S.-based financial institutions, counterparties with which SHUSA does business, as well as the stability of global financial markets; |

|         |                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | inflation, interest rate, market and monetary fluctuations, which may, among other things, reduce net interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and secondary markets; |

|         |                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | adverse movements and volatility in debt and equity capital markets and adverse changes in the securities markets, including those related to the financial condition of significant issuers in SHUSA’s investment portfolio; |

|         |                                                                                                                                                                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | SHUSA’s ability to manage changes in the value and quality of its assets, changing market conditions that may force management to alter the implementation or continuation of cost savings or revenue enhancement strategies and the possibility that revenue enhancement initiatives may not be successful in the marketplace or may result in unintended costs; |

|         |                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | SHUSA's ability to grow revenue, manage expenses, attract and retain highly-skilled people and raise capital necessary to achieve its business goals and comply with regulatory requirements and expectations; |

|         |                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | SHUSA’s ability to timely develop competitive new products and services in a changing environment that are responsive to the needs of SHUSA's customers and are profitable to SHUSA, the acceptance of such products and services by customers, and the potential for new products and services to impose additional costs on SHUSA and expose SHUSA to increased operational risk; |

|         |                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | changes or potential changes to the competitive environment, including changes due to regulatory and technological changes, the effects of industry consolidation and perceptions of SHUSA as a suitable service provider or counterparty; |

|         |                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the ability of SHUSA and its third-party vendors to convert and maintain SHUSA’s data processing and related systems on a timely and acceptable basis and within projected cost estimates; |

|         |                                                                                                                                                                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | SHUSA's ability to control operational risks, data security breach risks and outsourcing risks, and the possibility of errors in quantitative models SHUSA uses to manage its business and the possibility that SHUSA's controls will prove insufficient, fail or be circumvented; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of changes in financial services policies, laws and regulations, including laws, regulations and policies concerning taxes, banking, capital, liquidity, proper accounting treatment, securities and insurance, the applications and interpretations thereof by regulatory bodies and the impact of changes in and interpretations of generally accepted accounting principles in the United States of America ("GAAP"); |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "DFA"), enacted in July 2010, which is a significant development for the industry, the full impact of which will not be known until the rule-making processes mandated by the legislation are complete, although the impact has involved and will involve higher compliance costs that have affected and will affect SHUSA’s revenue and earnings negatively; |

|         |                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | SHUSA's ability to promote a strong culture of risk management, operating controls, compliance oversight and governance that meets regulatory expectations; |

|         |                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | competitors of SHUSA that may have greater financial resources or lower costs, may innovate more effectively, or may develop products and technology that enable those competitors to compete more successfully than SHUSA; |

|         |                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------|
| • | acts of terrorism or domestic or foreign military conflicts; and acts of God, including natural disasters; |

|         |                                                              |
|---------|--------------------------------------------------------------|
| • | the costs and effects of regulatory or judicial proceedings; |

|         |                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the outcome of ongoing tax audits by federal, state and local income tax authorities that may require SHUSA to pay additional taxes or recover fewer overpayments compared to what has been accrued or paid as of period-end; |

|         |                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| • | adverse publicity, whether specific to SHUSA or regarding other industry participants or industry-wide factors, or other reputational harm; and |

|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | SHUSA’s success in managing the risks involved in the foregoing. |

----

Table of Contents

|                                                                                                                                                                                                                                              |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                              |  |  |
| 2015 Amendment: OCC consent order signed by Santander Bank, National Association ("SBNA") on June 16, 2015 which amended prior orders signed by SBNA and the Office of the Comptroller of the Currency on April 13, 2011 and January 7, 2013 |   | Covered Fund: hedge fund or a private equity fund under the Volcker Rule |
| ABS: Asset-backed securities                                                                                                                                                                                                                 |   | CPR: Changes in anticipated loan prepayment rates |
| ACL: Allowance for credit losses                                                                                                                                                                                                             |   | CRA: Community Reinvestment Act |
| ADRs: American depositary receipts                                                                                                                                                                                                      |   | DCF: Discounted cash flow |
| ALLL: Allowance for loan and lease losses                                                                                                                                                                                                    |   | DDFS: Dundon DFS LLC |
| Alt-A: Loans originated through brokers outside the Bank's geographic footprint, often lacking full documentation                                                                                                                            |   | Deka Lawsuit: purported securities class action lawsuit filed against SC on August 26, 2014 |
| AOD: Assurance of Discontinuance                                                                                                                                                                                                        |   | DFA: Dodd-Frank Wall Street Reform and Consumer Protection Act |
| APR: Annual percentage rate                                                                                                                                                                                                             |   | DOJ: Department of Justice |
| ASC: Accounting Standards Codification                                                                                                                                                                                                       |   | DOJ Order: Consent order signed by SC with the DOJ on February 25, 2015 that resolved claims related to certain of SC's repossession and collection activities |
| ASU: Accounting Standards Update                                                                                                                                                                                                             |   | DTI: Debt-to-income |
| ATM: Automated teller machine                                                                                                                                                                                                           |   | DTL: Deferred tax liability |
| Bank: Santander Bank, National Association                                                                                                                                                                                                   |   | ECOA: Equal Credit Opportunity Act |
| BB&T: BB&T Corp.                                                                                                                                                                                                                     |   | EPS: Enhanced Prudential Standards |
| BHC: Bank holding company                                                                                                                                                                                                                    |   | EMI: Equity method investment |
| BNY Mellon: Bank of New York Mellon                                                                                                                                                                                                          |   | ETR: Effective tax rate |
| BOLI: Bank-owned life insurance                                                                                                                                                                                                              |   | Exchange Act: Securities Exchange Act of 1934, as amended |
| Brokers: Independent parties                                                                                                                                                                                                                 |   | FASB: Financial Accounting Standards Board |
| CBP: Citizens Bank of Pennsylvania                                                                                                                                                                                                           |   | FBO: Foreign banking organization |
| CCAR: Comprehensive Capital Analysis and Review                                                                                                                                                                                              |   | FCA: Fiat Chrysler Automobiles US LLC |
| CCART: Chrysler Capital Auto Receivables Trust                                                                                                                                                                                               |   | FDIA: Federal Deposit Insurance Act |
| CD: Certificate(s) of deposit                                                                                                                                                                                                                |   | FDIC: Federal Deposit Insurance Corporation |
| CEVF: Commercial equipment vehicle funding                                                                                                                                                                                                   |   | Federal Reserve: Board of Governors of the Federal Reserve System |
| CET1: Common equity tier 1                                                                                                                                                                                                                   |   | FIRREA: Financial Institutions Reform, Recovery, and Enforcement Act |
| CFPB: Consumer Financial Protection Bureau                                                                                                                                                                                                   |   | FHLB: Federal Home Loan Bank |
| CFTC: U.S. Commodity Futures Trading Commission                                                                                                                                                                                         |   | FHLMC: Federal Home Loan Mortgage Corporation |
| Change in Control: First quarter 2014 change in control and consolidation of SC                                                                                                                                                              |   | FICO®: Fair Isaac Corporation credit scoring model |
| Chrysler Agreement: Ten-year private label financing agreement with Fiat Chrysler Automobiles US LLC, formerly Chrysler Group LLC, signed by SC                                                                                              |   | FIRREA: Financial Institutions Reform, Recovery, and Enforcement Act |
| Chrysler Capital: trade name used in providing services under the Chrysler Agreement                                                                                                                                                         |   | Final Rule: Rule implementing certain of the EPS mandated by Section 165 of the DFA |
| CID: Civil investigative demand                                                                                                                                                                                                         |   | FNMA: Federal National Mortgage Association |
| CLO: Collateralized loan obligations                                                                                                                                                                                                    |   | FOMC: Federal Open Market Committee |
| CLTV: Combined loan-to-value                                                                                                                                                                                                            |   | FRB: Federal Reserve Bank |
| CMO: Collateralized mortgage obligation                                                                                                                                                                                                 |   | FSB: Financial Stability Board |
| CODM: Chief Operating Decision Maker                                                                                                                                                                                                    |   | FTP: funds transfer pricing |
| Company: Santander Holdings USA, Inc.                                                                                                                                                                                                        |   | FVO: Fair value option |
| Consent Order: Consent order signed by the Bank with the OCC on April 17, 2015 that resolved issues related to the sale and servicing of the identify theft protection product                                                               |   | GAAP: Accounting principles generally accepted in the United States of America |

----

Table of Contents

|                                                                                                                                                          |
|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                          |  |  |
| GAP: Guaranteed Auto Protection                                                                                                                     |   | OTS: Office of Thrift Supervision |
| GCB: Global Corporate Banking                                                                                                                            |   | OTS Order: Consent order signed by the Bank and other parties with the OTS on April 13, 2011 resolving certain of the Bank's and other parties' foreclosure activities |
| GSE: Government-sponsored entity                                                                                                                         |   | OTTI: Other-than-temporary impairment |
| HQLA: High-quality liquid assets                                                                                                                    |   | Parent Company: the parent holding company of Santander Bank, National Association and other consolidated subsidiaries |
| IHC: U.S. intermediate holding company                                                                                                              |   | Plan: Pension plan acquired during acquisition Independence Community Bank Corp. |
| IFRS: International Financial Reporting Standards                                                                                                   |   | REIT: Real estate investment trust |
| IPO: Initial public offering                                                                                                                        |   | RIC: Retail installment contracts |
| IRS: Internal Revenue Service                                                                                                                       |   | RSUs: Restricted stock units |
| ISDA: International Swaps and Derivatives Association, Inc.                                                                                         |   | RV: Recreational vehicle |
| IT: Information Technology                                                                                                                          |   | RWA: Risk-weighted assets |
| Legacy Covered Funds: Investments in and relationships with covered funds that were in place prior to December 31, 2013                             |   | S&P: Standard & Poor's |
| Lending Club: LendingClub Corporation, a peer-to-peer personal lending platform company from which SC acquired loans under terms of flow agreements |   | Santander: Banco Santander, S.A. |
| LCR: Liquidity coverage ratio                                                                                                                       |   | Santander NY: New York branch of Banco Santander, S.A. |
| LHFI: Loans held-for-investment                                                                                                                     |   | Santander Transaction: The transaction pursuant to which SHUSA became a wholly-owned subsidiary of Santander on January 30, 2009 |
| LHFS: Loans held-for-sale                                                                                                                           |   | Santander UK: Santander UK plc |
| LIBOR: London Interbank Offered Rate                                                                                                                |   | SBNA: Santander Bank, National Association |
| LIHTC: Low income housing tax credit                                                                                                                |   | SC: Santander Consumer USA Holdings Inc. and its subsidiaries |
| LTD: Long-term debt                                                                                                                                 |   | SC Common Stock: Common shares of SC |
| LTV: Loan-to-value                                                                                                                                  |   | SCF: Statement of Cash Flows |
| MBS: Mortgage-backed securities                                                                                                                     |   | SCI: Santander Consumer International PR, LLC |
| Massachusetts AG: Massachusetts Attorney General                                                                                                    |   | SCRA: Servicemembers Civil Relief Act |
| MD&A: Management's Discussion and Analysis of Financial Condition and Results of Operations                                                     |   | SDART: Santander Drive Auto Receivables Trust, a SC securitization platform |
| MSR: Mortgage servicing right                                                                                                                       |   | SDGT: Specially Designated Global Terrorist |
| MVE: Market value of equity                                                                                                                         |   | SDN: Specially Designated Nationals and Blocked Persons |
| NCI: Non-controlling interest                                                                                                                       |   | SEC: Securities and Exchange Commission |
| NMD: Non-maturity deposits                                                                                                                          |   | Securities Act: Securities Act of 1933, as amended |
| NMTC: New Markets Tax Credit                                                                                                                        |   | Separation Agreement: Agreement entered into by Thomas Dundon, the former Chief Executive Officer of SC, DDFS, Santander Consumer USA Inc. and Banco Santander, S.A. on July 2, 2015 |
| NPL: Non-performing loans                                                                                                                           |   | SHUSA: Santander Holdings USA, Inc. |
| NPR: Notice of proposed rulemaking                                                                                                                  |   | SPE: Special purpose entity |
| NPWMD: Non-Proliferation of Weapons of Mass Destruction                                                                                             |   | Sponsor Holdings: Sponsor Auto Finance Holding Series LP |
| NSFR: Net stable funding ratio                                                                                                                      |   | TDR: Troubled debt restructuring |
| NYSE: New York Stock Exchange                                                                                                                       |   | TLAC: Total loss absorbing capacity |
| OCC: Office of the Comptroller of the Currency                                                                                                      |   | Trusts: Securitization trusts |
| OEM: Original equipment manufacturer                                                                                                                |   | UPB: Unpaid Principal Balance |
| OIS: Overnight indexed swap                                                                                                                         |   | VIE: Variable interest entity |
| Order: OCC consent order signed by SBNA on January 26, 2012 which replaced a prior order signed by the Bank and other parties with the OTS          |   | VOE: Voting rights entity |
| OREO: Other real estate owned                                                                                                                       |   |   |
| OTC Derivatives: Over-the-counter derivatives                                                                                                       |   |   |

----

Table of Contents

|              |
|--------------|
|              |  |
| Item 1. | Condensed Consolidated Financial Statements |

|        |
|--------|
|        |  |
|   |   |

|                                                                                                                                                                         |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                         |  |  |  |  |  |  |  |
|                                                                                                                                                                    | March 31, 2016 |   | December 31, 2015 |
|                                                                                                                                                                    | As Restated - Note 18 |   |   |
|                                                                                                                                                                    | (in thousands, except share data) |
| ASSETS                                                                                                                                                                  |   |   |   |
| Cash and cash equivalents                                                                                                                                               | $ | 6,603,448 |  |   | $ | 4,992,042 |  |
| Investment securities:                                                                                                                                                  |   |   |   |
| Available-for-sale at fair value                                                                                                                                        | 20,533,116 |  |   | 20,851,495 |  |
| Other investments                                                                                                                                                       | 978,470 |  |   | 1,024,259 |  |
| Loans held-for-investment (1) (5)                                                                                                                                       | 81,094,242 |  |   | 79,373,792 |  |
| Allowance for loan and lease losses (5)                                                                                                                                 | (3,480,603 | ) |   | (3,160,711 | ) |
| Net loans held-for-investment                                                                                                                                           | 77,613,639 |  |   | 76,213,081 |  |
| Loans held-for-sale (2)                                                                                                                                                 | 2,543,341 |  |   | 3,183,282 |  |
| Premises and equipment, net (3)                                                                                                                                         | 946,138 |  |   | 942,372 |  |
| Leased vehicles, net (5)(6)                                                                                                                                             | 8,959,228 |  |   | 8,377,835 |  |
| Accrued interest receivable (5)                                                                                                                                         | 556,384 |  |   | 586,263 |  |
| Equity method investments                                                                                                                                               | 260,089 |  |   | 266,569 |  |
| Goodwill                                                                                                                                                                | 4,444,389 |  |   | 4,444,389 |  |
| Intangible assets, net                                                                                                                                                  | 624,117 |  |   | 639,055 |  |
| Bank-owned life insurance                                                                                                                                               | 1,733,940 |  |   | 1,727,096 |  |
| Restricted cash (5)                                                                                                                                                     | 2,923,603 |  |   | 2,429,729 |  |
| Other assets (4) (5)                                                                                                                                                    | 2,304,725 |  |   | 1,893,815 |  |
| TOTAL ASSETS                                                                                                                                                            | $ | 131,024,627 |  |   | $ | 127,571,282 |  |
| LIABILITIES                                                                                                                                                             |   |   |   |
| Accrued expenses and payables                                                                                                                                           | $ | 1,516,199 |  |   | $ | 1,666,286 |  |
| Deposits and other customer accounts                                                                                                                                    | 57,464,250 |  |   | 56,114,232 |  |
| Borrowings and other debt obligations (5)                                                                                                                               | 50,756,501 |  |   | 49,086,103 |  |
| Advance payments by borrowers for taxes and insurance                                                                                                                   | 231,107 |  |   | 171,137 |  |
| Deferred tax liabilities, net                                                                                                                                           | 472,572 |  |   | 353,369 |  |
| Other liabilities (5)                                                                                                                                                   | 817,889 |  |   | 598,380 |  |
| TOTAL LIABILITIES                                                                                                                                                       | 111,258,518 |  |   | 107,989,507 |  |
| STOCKHOLDER'S EQUITY                                                                                                                                                    |   |   |   |
| Preferred stock (no par value; $25,000 liquidation preference; 7,500,000 shares authorized; 8,000 shares outstanding at both March 31, 2016 and December 31, 2015) | 195,445 |  |   | 195,445 |  |
| Common stock and paid-in capital (no par value; 800,000,000 shares authorized; 530,391,043 shares outstanding at both March 31, 2016 and December 31, 2015)        | 14,716,851 |  |   | 14,729,566 |  |
| Accumulated other comprehensive loss                                                                                                                                    | (26,679 | ) |   | (139,641 | ) |
| Retained earnings                                                                                                                                                       | 2,361,562 |  |   | 2,351,435 |  |
| TOTAL SHUSA STOCKHOLDER'S EQUITY                                                                                                                                        | 17,247,179 |  |   | 17,136,805 |  |
| Noncontrolling interest                                                                                                                                                 | 2,518,930 |  |   | 2,444,970 |  |
| TOTAL STOCKHOLDER'S EQUITY                                                                                                                                              | 19,766,109 |  |   | 19,581,775 |  |
| TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                                                                                                                              | $ | 131,024,627 |  |   | $ | 127,571,282 |  |

----

Table of Contents

|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |
|                                                        | Three-Month PeriodEnded March 31, |
|                                                        | 2016 |   | 2015 |
|                                                        | As Restated - Note 18 |   |   |
|                                                        | (in thousands) |
| INTEREST INCOME:                                            |   |   |   |
| Loans                                                       | $ | 1,859,053 |  |   | $ | 1,803,678 |  |
| Interest-earning deposits                                   | 8,725 |  |   | 1,762 |  |
| Investment securities:                                      |   |   |   |
| Available-for-sale                                          | 92,653 |  |   | 77,417 |  |
| Other investments                                           | 9,073 |  |   | 19,068 |  |
| TOTAL INTEREST INCOME                                       | 1,969,504 |  |   | 1,901,925 |  |
| INTEREST EXPENSE:                                           |   |   |   |
| Deposits and other customer accounts                        | 68,800 |  |   | 63,393 |  |
| Borrowings and other debt obligations                       | 284,652 |  |   | 215,475 |  |
| TOTAL INTEREST EXPENSE                                      | 353,452 |  |   | 278,868 |  |
| NET INTEREST INCOME                                         | 1,616,052 |  |   | 1,623,057 |  |
| Provision for credit losses                                 | 882,278 |  |   | 1,053,639 |  |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES       | 733,774 |  |   | 569,418 |  |
| NON-INTEREST INCOME:                                        |   |   |   |
| Consumer fees                                               | 124,467 |  |   | 100,704 |  |
| Commercial fees                                             | 41,294 |  |   | 42,685 |  |
| Mortgage banking income, net                                | 16,344 |  |   | 17,863 |  |
| Equity method investments loss, net                         | (4,192 | ) |   | (7,133 | ) |
| Bank-owned life insurance                                   | 13,728 |  |   | 12,956 |  |
| Lease income                                                | 421,520 |  |   | 313,331 |  |
| Miscellaneous (loss)/income                                 | (41,881 | ) |   | 96,540 |  |
| TOTAL FEES AND OTHER INCOME                                 | 571,280 |  |   | 576,946 |  |
| Other-than-temporary impairment recognized in earnings      | (10 | ) |   | — |  |
| Net gain on sale of investment securities                   | 26,431 |  |   | 9,557 |  |
| Net gain recognized in earnings                             | 26,421 |  |   | 9,557 |  |
| TOTAL NON-INTEREST INCOME                                   | 597,701 |  |   | 586,503 |  |
| GENERAL AND ADMINISTRATIVE EXPENSES:                        |   |   |   |
| Compensation and benefits                                   | 368,119 |  |   | 319,101 |  |
| Occupancy and equipment expenses                            | 133,673 |  |   | 129,166 |  |
| Technology expense                                          | 44,816 |  |   | 42,089 |  |
| Outside services                                            | 70,220 |  |   | 48,399 |  |
| Marketing expense                                           | 19,282 |  |   | 14,341 |  |
| Loan expense                                                | 98,645 |  |   | 93,797 |  |
| Lease expense                                               | 292,882 |  |   | 240,948 |  |
| Other administrative expenses                               | 81,637 |  |   | 71,666 |  |
| TOTAL GENERAL AND ADMINISTRATIVE EXPENSES                   | 1,109,274 |  |   | 959,507 |  |
| OTHER EXPENSES:                                             |   |   |   |
| Amortization of intangibles                                 | 14,938 |  |   | 16,806 |  |
| Deposit insurance premiums and other expenses               | 23,858 |  |   | 15,809 |  |
| Loss on debt extinguishment                                 | 32,872 |  |   | — |  |
| Investment expense on qualified affordable housing projects | 85 |  |   | 49 |  |
| TOTAL OTHER EXPENSES                                        | 71,753 |  |   | 32,664 |  |
| INCOME BEFORE INCOME TAX PROVISION                          | 150,448 |  |   | 163,750 |  |
| Income tax provision                                        | 65,396 |  |   | 36,909 |  |
| NET INCOME INCLUDING NONCONTROLLING INTEREST                | 85,052 |  |   | 126,841 |  |
| LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST    | 71,275 |  |   | 41,425 |  |
| NET INCOME ATTRIBUTABLE TO SANTANDER HOLDINGS USA, INC.     | $ | 13,777 |  |   | $ | 85,416 |  |

----

Table of Contents

|                                                                                            |
|--------------------------------------------------------------------------------------------|
|                                                                                            |  |  |  |  |  |  |  |
|                                                                                       | Three-Month PeriodEnded March 31, |
|                                                                                       | 2016 |   | 2015 |
|                                                                                       | As Restated - Note 18 |   |   |
|                                                                                       | (in thousands) |
| NET INCOME INCLUDING NONCONTROLLING INTEREST                                               | $ | 85,052 |  |   | $ | 126,841 |  |
| OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX                                              |   |   |   |
| Net unrealized (losses) on cash flow hedge derivative financial instruments, net of tax(1) | (32,527 | ) |   | (15,115 | ) |
| Net unrealized gains on available-for-sale investment securities, net of tax               | 144,924 |  |   | 65,990 |  |
| Pension and post-retirement actuarial gains, net of tax                                    | 565 |  |   | 615 |  |
| TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAX                                               | 112,962 |  |   | 51,490 |  |
| COMPREHENSIVE INCOME                                                                       | $ | 198,014 |  |   | $ | 178,331 |  |
| NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST                                         | 71,275 |  |   | 41,425 |  |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO SHUSA                                                 | $ | 126,739 |  |   | $ | 136,906 |  |

----

Table of Contents

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                              | CommonSharesOutstanding |   | PreferredStock |   | CommonStock andPaid-inCapital |   | AccumulatedOtherComprehensive(Loss)/Income |   | RetainedEarnings |   | Noncontrolling Interest |   | TotalStockholder'sEquity |
| Balance, December 31, 2014                                                        | 530,391 |  |   | $ | 195,445 |  |   | $ | 14,729,609 |  |   | $ | (96,410 | ) |   | $ | 3,846,417 |  |   | $ | 4,052,395 |  |   | $ | 22,727,456 |  |
| Comprehensive income attributable to Santander Holdings USA, Inc.                 | — |  |   | — |  |   | — |  |   | 51,490 |  |   | 85,416 |  |   | — |  |   | 136,906 |  |
| Comprehensive income attributable to noncontrolling interest                      | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 41,425 |  |   | 41,425 |  |
| Impact of Santander Consumer USA Holdings Inc. stock option activity              | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 14,811 |  |   | 14,811 |  |
| Stock issued in connection with employee benefit and incentive compensation plans | — |  |   | — |  |   | 547 |  |   | — |  |   | — |  |   | — |  |   | 547 |  |
| Dividends paid on preferred stock                                                 | — |  |   | — |  |   | — |  |   | — |  |   | (3,650 | ) |   | — |  |   | (3,650 | ) |
| Balance, March 31, 2015                                                           | 530,391 |  |   | $ | 195,445 |  |   | $ | 14,730,156 |  |   | $ | (44,920 | ) |   | $ | 3,928,183 |  |   | $ | 4,108,631 |  |   | $ | 22,917,495 |  |

|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (As Restated - Note 18)                                                           | CommonSharesOutstanding |   | PreferredStock |   | CommonStock andPaid-inCapital |   | AccumulatedOtherComprehensive(Loss)/Income |   | RetainedEarnings |   | Noncontrolling Interest |   | TotalStockholder'sEquity |
| Balance, January 1, 2016                                                          | 530,391 |  |   | $ | 195,445 |  |   | $ | 14,729,566 |  |   | $ | (139,641 | ) |   | $ | 2,351,435 |  |   | $ | 2,444,970 |  |   | $ | 19,581,775 |  |
| Comprehensive income attributable to Santander Holdings USA, Inc.                 | — |  |   | — |  |   | — |  |   | 112,962 |  |   | 13,777 |  |   | — |  |   | 126,739 |  |
| Other comprehensive income attributable to noncontrolling interest                | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (15,680 | ) |   | (15,680 | ) |
| Net income attributable to noncontrolling interest                                | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 71,275 |  |   | 71,275 |  |
| Impact of Santander Consumer USA Holdings Inc. stock option activity              | — |  |   | — |  |   | (13,111 | ) |   | — |  |   | — |  |   | 18,365 |  |   | 5,254 |  |
| Stock issued in connection with employee benefit and incentive compensation plans | — |  |   | — |  |   | 396 |  |   | — |  |   | — |  |   | — |  |   | 396 |  |
| Dividends paid on preferred stock                                                 | — |  |   | — |  |   | — |  |   | — |  |   | (3,650 | ) |   | — |  |   | (3,650 | ) |
| Balance, March 31, 2016                                                           | 530,391 |  |   | $ | 195,445 |  |   | $ | 14,716,851 |  |   | $ | (26,679 | ) |   | $ | 2,361,562 |  |   | $ | 2,518,930 |  |   | $ | 19,766,109 |  |

----

|                                                                                      |
|--------------------------------------------------------------------------------------|
|                                                                                      |  |  |  |  |  |  |  |  |
|                                                                                 | Three-Month Period Ended March 31, |   |
|                                                                                 | 2016 |  | 2015 |   |
|                                                                                 | As Restated - Note 18 |   |   |   |
|                                                                                 | (in thousands) |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                |   |   |   |   |
| Net income including noncontrolling interest                                         | $ | 85,052 |  |   | $ | 126,841 |  |   |
| Adjustments to reconcile net income to net cash provided by operating activities:    |   |   |   |   |
| Provision for credit losses                                                          | 882,278 |  |   | 1,053,639 |  |   |
| Deferred tax expense/(benefit)                                                       | 53,858 |  |   | (71,514 | ) |   |
| Depreciation, amortization and accretion                                             | 212,830 |  |   | 100,151 |  |   |
| Net loss/(gain) on sale of loans                                                     | 69,905 |  |   | (14,501 | ) |   |
| Net gain on sale of investment securities                                            | (26,431 | ) |   | (9,557 | ) |   |
| Net loss/(gain) on sale of leased vehicles                                           | 63 |  |   | (10,847 | ) |   |
| Other-than-temporary impairment ("OTTI") recognized in earnings                      | 10 |  |   | — |  |   |
| Loss on debt extinguishment                                                          | 32,872 |  |   | — |  |   |
| Net loss on real estate owned and premises and equipment                             | 1,530 |  |   | 364 |  |   |
| Stock-based compensation                                                             | 18,607 |  |   | 5,778 |  |   |
| Equity loss on equity method investments                                             | 4,192 |  |   | 7,133 |  |   |
| Originations of loans held-for-sale, net of repayments                               | (1,602,886 | ) |   | (1,190,069 | ) |   |
| Proceeds from sales of loans held-for-sale                                           | 1,263,128 |  |   | 905,354 |  |   |
| Purchases of trading securities                                                      | — |  |   | (390,192 | ) |   |
| Proceeds from sales of trading securities                                            | — |  |   | 823,801 |  |   |
| Net change in:                                                                       |   |   |   |   |
| Loans held for sale                                                                  | (129,330 | ) |   | — |  |   |
| Other assets and bank-owned life insurance                                           | (181,005 | ) |   | 330,671 |  |   |
| Other liabilities                                                                    | 65,021 |  |   | 54,312 |  |   |
| NET CASH PROVIDED BY OPERATING ACTIVITIES                                            | 749,694 |  |   | 1,721,364 |  |   |
|                                                                                 |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                |   |   |   |   |
| Proceeds from sales of available-for-sale investment securities                      | 3,435,844 |  |   | 1,010,515 |  |   |
| Proceeds from prepayments and maturities of available-for-sale investment securities | 1,034,434 |  |   | 827,886 |  |   |
| Purchases of available-for-sale investment securities                                | (4,088,989 | ) |   | (3,940,818 | ) |   |
| Proceeds from sales of other investments                                             | 120,198 |  |   | 140,949 |  |   |
| Purchases of other investments                                                       | (74,916 | ) |   | (153,034 | ) |   |
| Net change in restricted cash                                                        | (498,444 | ) |   | (776,589 | ) |   |
| Proceeds from sales of loans held-for-investment                                     | 934,227 |  |   | 410,930 |  |   |
| Proceeds from the sales of equity method investments                                 | — |  |   | 14,988 |  |   |
| Distributions from equity method investments                                         | 1,799 |  |   | 1,050 |  |   |
| Contributions to equity method and other investments                                 | (1,686 | ) |   | — |  |   |
| Purchases of loans held-for-investment                                               | (39,652 | ) |   | (57,886 | ) |   |
| Net change in loans other than purchases and sales                                   | (2,119,006 | ) |   | (3,917,765 | ) |   |
| Purchases of leased vehicles                                                         | (1,622,199 | ) |   | (1,531,304 | ) |   |
| Proceeds from the sale and termination of leased vehicles                            | 480,604 |  |   | 586,664 |  |   |
| Manufacturer incentives                                                              | 335,008 |  |   | 308,636 |  |   |
| Proceeds from sales of real estate owned and premises and equipment                  | 16,632 |  |   | 23,188 |  |   |
| Purchases of premises and equipment                                                  | (97,735 | ) |   | (39,957 | ) |   |
| NET CASH USED IN INVESTING ACTIVITIES                                                | (2,183,881 | ) |   | (7,092,547 | ) |   |
|                                                                                 |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                |   |   |   |   |
| Net change in deposits and other customer accounts                                   | 1,350,018 |  |   | 1,894,925 |  |   |
| Net change in short-term borrowings                                                  | 500,000 |  |   | (3,400,000 | ) |   |
| Net proceeds from long-term borrowings                                               | 13,373,270 |  |   | 11,935,538 |  |   |
| Repayments of long-term borrowings                                                   | (10,751,400 | ) |   | (9,051,010 | ) |   |
| Proceeds from FHLB advances (with terms greater than 3 months)                       | 2,100,000 |  |   | 3,750,000 |  |   |
| Repayments of FHLB advances (with terms greater than 3 months)                       | (3,582,872 | ) |   | (135,000 | ) |   |
| Net change in advance payments by borrowers for taxes and insurance                  | 59,970 |  |   | 54,943 |  |   |
| Cash dividends paid to preferred stockholders                                        | (3,650 | ) |   | (3,650 | ) |   |
| Proceeds from the issuance of common stock                                           | 257 |  |   | 9,161 |  |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                                            | 3,045,593 |  |   | 5,054,907 |  |   |
|                                                                                 |   |   |   |   |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS                                 | 1,611,406 |  |   | (316,276 | ) |   |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                       | 4,992,042 |  |   | 2,201,783 |  |   |
| CASH AND CASH EQUIVALENTS, END OF PERIOD                                             | $ | 6,603,448 |  |   | $ | 1,885,507 |  |   |
|                                                                                 |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES                                                             |   |   |   |   |
| Income taxes paid/(received), net                                                    | $ | 23,149 |  |   | $ | (237,980 | ) |   |
| Interest paid                                                                        | 347,289 |  |   | 281,952 |  |   |
|                                                                                 |   |   |   |   |
| NON-CASH TRANSACTIONS                                                                |   |   |   |   |
| Loans transferred to other real estate owned                                         | 28,666 |  |   | 9,628 |  |   |
| Loans transferred to repossessed vehicles                                            | — |  |   | 18,170 |  |   |
| Loans transferred from held-for-investment to held-for-sale, net                     | 417,283 |  |   | 848,137 |  |   |
| Unsettled sales of investment securities                                             | 176,862 |  |   | — |  |   |

----

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company adopted ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (Topic 718) on a prospective basis. This ASU was issued by the FASB in June 2014 and requires that a performance target that affects vesting, and could be achieved after the requisite service period, be treated as a performance condition. Application of existing guidance in Accounting Standards Codification ("ASC") 718 as it relates to awards with performance conditions that affect vesting should continue to be used to account for such awards. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company also adopted ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items on a prospective basis. This ASU was issued by FASB in January 2015 and eliminates the concept of extraordinary items from GAAP, which previously required the separate classification, presentation, and disclosure of extraordinary events and transactions. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company also adopted ASU 2015-02, Consolidation (Topic 820): Amendments to the Consolidation Analysis, which the FASB issued in February 2015. This ASU changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Specifically, this ASU modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities (VOEs); eliminates the presumption that a general partner should consolidate a limited partnership; potentially changes the consolidation conclusions of reporting entities that are involved with VIEs, in particular those that have fee arrangements and related party arrangements; and provides a scope exception for reporting entities with interests held in certain money market funds and similar unregistered money market funds. As the adoption did not result in any significant impact to the Company’s consolidated financial statements, it did not result in a retrospective or modified retrospective application. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company also adopted ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent) on a retrospective basis. This ASU removes the requirement to categorize investments fair valued using the net asset value per share practical expedient within the fair value hierarchy. It also modifies disclosure requirements to include only investments for which the entity elects to use the practical expedient rather than the prior guidance which required disclosures for all investments eligible to use the practical expedient. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company also adopted ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments on a prospective basis. This amendment eliminates the requirement to account for adjustments to provisional amounts recognized in a business combination retrospectively. Instead, the acquirer will recognize the adjustments to provisional amounts during the period in which the adjustments are determined, including the effect on earnings of any amounts the acquirer would have recorded in previous periods if the accounting had been completed at the acquisition date. |

----

----

----

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                             | March 31, 2016 |
|                                             | AmortizedCost |   | GrossUnrealizedGains |   | GrossUnrealizedLoss |   | FairValue |
|                                             | (in thousands) |
| U.S. Treasury securities                         | $ | 349,274 |  |   | $ | 468 |  |   | $ | — |  |   | $ | 349,742 |  |
| Corporate debt securities                        | 1,417,264 |  |   | 15,972 |  |   | (3,646 | ) |   | 1,429,590 |  |
| Asset-backed securities ("ABS")                  | 2,038,606 |  |   | 9,621 |  |   | (1,648 | ) |   | 2,046,579 |  |
| Equity securities                                | 10,964 |  |   | 5 |  |   | (282 | ) |   | 10,687 |  |
| State and municipal securities                   | 21,278 |  |   | 349 |  |   | — |  |   | 21,627 |  |
| Mortgage-backed securities ("MBS"):              |   |   |   |   |   |   |   |
| U.S. government agencies - Residential           | 5,871,610 |  |   | 51,967 |  |   | (18,121 | ) |   | 5,905,456 |  |
| U.S. government agencies - Commercial            | 1,094,751 |  |   | 16,994 |  |   | (1,992 | ) |   | 1,109,753 |  |
| FHLMC and FNMA - Residential debt securities (1) | 9,498,678 |  |   | 80,842 |  |   | (60,101 | ) |   | 9,519,419 |  |
| FHLMC and FNMA - Commercial debt securities      | 137,804 |  |   | 2,749 |  |   | (327 | ) |   | 140,226 |  |
| Non-agency securities                            | 37 |  |   | — |  |   | — |  |   | 37 |  |
| Total investment securities available-for-sale   | $ | 20,440,266 |  |   | $ | 178,967 |  |   | $ | (86,117 | ) |   | $ | 20,533,116 |  |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                           | December 31, 2015 |
|                                           | AmortizedCost |   | GrossUnrealizedGains |   | GrossUnrealizedLoss |   | FairValue |
|                                           | (in thousands) |
| U.S. Treasury securities                       | $ | 3,192,411 |  |   | $ | 1,658 |  |   | $ | (5,681 | ) |   | $ | 3,188,388 |  |
| Corporate debt securities                      | 1,476,801 |  |   | 10,021 |  |   | (11,248 | ) |   | 1,475,574 |  |
| Asset-backed securities                        | 1,763,178 |  |   | 7,826 |  |   | (1,494 | ) |   | 1,769,510 |  |
| Equity securities                              | 10,894 |  |   | 1 |  |   | (408 | ) |   | 10,487 |  |
| State and municipal securities                 | 748,696 |  |   | 19,616 |  |   | (432 | ) |   | 767,880 |  |
| Mortgage-backed securities:                    |   |   |   |   |   |   |   |
| U.S. government agencies - Residential         | 4,033,041 |  |   | 10,225 |  |   | (36,513 | ) |   | 4,006,753 |  |
| U.S. government agencies - Commercial          | 1,006,161 |  |   | 3,347 |  |   | (7,153 | ) |   | 1,002,355 |  |
| FHLMC and FNMA - Residential debt securities   | 8,636,745 |  |   | 10,556 |  |   | (153,128 | ) |   | 8,494,173 |  |
| FHLMC and FNMA - Commercial debt securities    | 138,094 |  |   | 723 |  |   | (2,487 | ) |   | 136,330 |  |
| Non-agency securities                          | 45 |  |   | — |  |   | — |  |   | 45 |  |
| Total investment securities available-for-sale | $ | 21,006,066 |  |   | $ | 63,973 |  |   | $ | (218,544 | ) |   | $ | 20,851,495 |  |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |
|                                       | AmortizedCost |   | FairValue |
|                                       | (in thousands) |
| Due within one year                        | $ | 545,999 |  |   | $ | 547,001 |  |
| Due after 1 year but within 5 years   | 3,073,546 |  |   | 3,094,514 |  |
| Due after 5 years but within 10 years | 318,364 |  |   | 320,688 |  |
| Due after 10 years                    | 16,491,393 |  |   | 16,560,226 |  |
| Total                                      | $ | 20,429,302 |  |   | $ | 20,522,429 |  |
|                                       |   |   |   |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                         | March 31, 2016 |
|                                         | Less than 12 months |   | 12 months or longer |   | Total |
|                                         | Fair Value |   | UnrealizedLosses |   | Fair Value |   | UnrealizedLosses |   | Fair Value |   | UnrealizedLosses |
|                                         | (in thousands) |
| Corporate debt securities                    | $ | 261,839 |  |   | $ | (1,900 | ) |   | $ | 174,222 |  |   | $ | (1,746 | ) |   | $ | 436,061 |  |   | $ | (3,646 | ) |
| Asset-backed securities                      | 260,657 |  |   | (1,037 | ) |   | 67,243 |  |   | (611 | ) |   | 327,900 |  |   | (1,648 | ) |
| Equity securities                            | 293 |  |   | (2 | ) |   | 9,900 |  |   | (280 | ) |   | 10,193 |  |   | (282 | ) |
| Mortgage-backed securities:                  |   |   |   |   |   |   |   |   |   |   |   |
| U.S. government agencies - Residential       | 762,829 |  |   | (9,966 | ) |   | 733,921 |  |   | (8,155 | ) |   | 1,496,750 |  |   | (18,121 | ) |
| U.S. government agencies - Commercial        | 6,109 |  |   | (28 | ) |   | 113,681 |  |   | (1,964 | ) |   | 119,790 |  |   | (1,992 | ) |
| FHLMC and FNMA - Residential debt securities | 814,228 |  |   | (3,550 | ) |   | 2,075,785 |  |   | (56,551 | ) |   | 2,890,013 |  |   | (60,101 | ) |
| FHLMC and FNMA - Commercial debt securities  | 23,855 |  |   | (327 | ) |   | — |  |   | — |  |   | 23,855 |  |   | (327 | ) |
| Total                                        | $ | 2,129,810 |  |   | $ | (16,810 | ) |   | $ | 3,174,752 |  |   | $ | (69,307 | ) |   | $ | 5,304,562 |  |   | $ | (86,117 | ) |

----

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                         | December 31, 2015 |
|                                         | Less than 12 months |   | 12 months or longer |   | Total |
|                                         | Fair Value |   | UnrealizedLosses |   | Fair Value |   | UnrealizedLosses |   | Fair Value |   | UnrealizedLosses |
|                                         | (in thousands) |
| U.S. Treasury securities                     | $ | 2,243,343 |  |   | $ | (5,681 | ) |   | $ | — |  |   | $ | — |  |   | $ | 2,243,343 |  |   | $ | (5,681 | ) |
| Corporate debt securities                    | 775,366 |  |   | (5,269 | ) |   | 152,486 |  |   | (5,979 | ) |   | 927,852 |  |   | (11,248 | ) |
| Asset-backed securities                      | 300,869 |  |   | (1,083 | ) |   | 35,126 |  |   | (411 | ) |   | 335,995 |  |   | (1,494 | ) |
| Equity securities                            | 596 |  |   | (7 | ) |   | 9,748 |  |   | (401 | ) |   | 10,344 |  |   | (408 | ) |
| State and municipal securities               | 15,665 |  |   | (119 | ) |   | 26,024 |  |   | (313 | ) |   | 41,689 |  |   | (432 | ) |
| Mortgage-backed securities:                  |   |   |   |   |   |   |   |   |   |   |   |
| U.S. government agencies - Residential       | 1,670,150 |  |   | (11,164 | ) |   | 954,916 |  |   | (25,349 | ) |   | 2,625,066 |  |   | (36,513 | ) |
| U.S. government agencies - Commercial        | 367,706 |  |   | (3,382 | ) |   | 114,038 |  |   | (3,771 | ) |   | 481,744 |  |   | (7,153 | ) |
| FHLMC and FNMA - Residential debt securities | 4,650,327 |  |   | (38,013 | ) |   | 2,127,962 |  |   | (115,115 | ) |   | 6,778,289 |  |   | (153,128 | ) |
| FHLMC and FNMA - Commercial debt securities  | 115,347 |  |   | (2,487 | ) |   | — |  |   | — |  |   | 115,347 |  |   | (2,487 | ) |
| Total                                        | $ | 10,139,369 |  |   | $ | (67,205 | ) |   | $ | 3,420,300 |  |   | $ | (151,339 | ) |   | $ | 13,559,669 |  |   | $ | (218,544 | ) |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |
|                                                     | Three-Month PeriodEnded March 31, |
|                                                     | 2016 |   | 2015 |
|                                                     | (in thousands) |
| Proceeds from the sales of available-for-sale securities | $ | 3,435,844 |  |   | $ | 1,010,515 |  |
|                                                     |   |   |   |
| Gross realized gains                                     | $ | 26,707 |  |   | $ | 10,782 |  |
| Gross realized (losses)                                  | (276 | ) |   | (1,225 | ) |
| OTTI                                                     | (10 | ) |   | — |  |
|     Net realized gains               | $ | 26,421 |  |   | $ | 9,557 |  |

|        |
|--------|
|        |  |  |  |
|   |   |   |   |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | March 31, 2016 |   | December 31, 2015 |
|                                                     | Amount |   | Percent |   | Amount |   | Percent |
|                                                     | (in thousands) |
| Commercial loans held-for-investment:                    |   |   |   |   |   |   |   |
| Commercial real estate loans                             | $ | 9,315,291 |  |   | 11.5 | % |   | $ | 8,722,917 |  |   | 11.0 | % |
| Commercial and industrial loans                          | 20,336,828 |  |   | 25.1 | % |   | 19,787,834 |  |   | 24.9 | % |
| Multifamily loans                                        | 9,330,482 |  |   | 11.5 | % |   | 9,438,463 |  |   | 11.9 | % |
| Other commercial(2)                                      | 2,739,515 |  |   | 3.4 | % |   | 2,676,506 |  |   | 3.4 | % |
| Total commercial loans held-for-investment               | 41,722,116 |  |   | 51.5 | % |   | 40,625,720 |  |   | 51.2 | % |
| Consumer loans secured by real estate:                   |   |   |   |   |   |   |   |
| Residential mortgages                                    | 6,219,967 |  |   | 7.7 | % |   | 6,230,995 |  |   | 7.8 | % |
| Home equity loans and lines of credit                    | 6,103,844 |  |   | 7.5 | % |   | 6,151,232 |  |   | 7.7 | % |
| Total consumer loans secured by real estate              | 12,323,811 |  |   | 15.2 | % |   | 12,382,227 |  |   | 15.5 | % |
| Consumer loans not secured by real estate:               |   |   |   |   |   |   |   |
| Retail installment contracts and auto loans - originated | 20,088,220 |  |   | 24.8 | % |   | 18,539,588 |  |   | 23.4 | % |
| Retail installment contracts and auto loans - purchased  | 5,293,741 |  |   | 6.4 | % |   | 6,108,210 |  |   | 7.7 | % |
| Personal unsecured loans                                 | 693,328 |  |   | 0.9 | % |   | 685,467 |  |   | 0.9 | % |
| Other consumer(3)                                        | 973,026 |  |   | 1.2 | % |   | 1,032,580 |  |   | 1.3 | % |
| Total consumer loans                                     | 39,372,126 |  |   | 48.5 | % |   | 38,748,072 |  |   | 48.8 | % |
| Total loans held-for-investment(1)                       | $ | 81,094,242 |  |   | 100.0 | % |   | $ | 79,373,792 |  |   | 100.0 | % |
| Total loans held-for-investment:                         |   |   |   |   |   |   |   |
| Fixed rate                                               | $ | 47,394,655 |  |   | 58.4 | % |   | $ | 46,721,562 |  |   | 58.9 | % |
| Variable rate                                            | 33,699,587 |  |   | 41.6 | % |   | 32,652,230 |  |   | 41.1 | % |
| Total loans held-for-investment(1)                       | $ | 81,094,242 |  |   | 100.0 | % |   | $ | 79,373,792 |  |   | 100.0 | % |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |
| Commercial Portfolio Segment(2)            |   |   |   |   |
| Major Loan Classifications(1)              |   | March 31, 2016 |   | December 31, 2015 |
|                                       |   | (in thousands) |
| Commercial loans held for investment:      |   |   |   |   |
| Commercial real estate:                    |   |   |   |   |
| Corporate Banking                          |   | $ | 2,959,176 |  |   | $ | 2,949,089 |  |
| Middle Market Real Estate                  |   | 4,855,085 |  |   | 4,223,359 |  |
| Santander Real Estate Capital              |   | 1,501,030 |  |   | 1,550,469 |  |
| Total commercial real estate               |   | 9,315,291 |  |   | 8,722,917 |  |
| Commercial and industrial (3)              |   | 20,336,828 |  |   | 19,787,834 |  |
| Multifamily                                |   | 9,330,482 |  |   | 9,438,463 |  |
| Other commercial                           |   | 2,739,515 |  |   | 2,676,506 |  |
| Total commercial loans held-for-investment |   | $ | 41,722,116 |  |   | $ | 40,625,720 |  |

|     |                                                                                                                                        |
|-----|----------------------------------------------------------------------------------------------------------------------------------------|
| (1) | These represent the Company's loan categories based on the Securities and Exchange Commission (the "SEC's") Regulation S-X, Article 9. |

|     |                                                                        |
|-----|------------------------------------------------------------------------|
| (2) | These represent the Company's loan classes used to determine its ALLL. |

|     |                                                                                                                                              |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Commercial and industrial loans had no LHFS at March 31, 2016 and excluded $86.4 million of LHFS at December 31, 2015. |

----

|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |
| Consumer Portfolio Segment(2)                               |   |   |   |   |
| Major Loan Classifications(1)                               |   | March 31, 2016 |   | December 31, 2015 |
|                                                        |   | (in thousands) |
| Consumer loans secured by real estate:                      |   |   |   |
| Residential mortgages(3)                                    |   | $ | 6,219,967 |  |   | $ | 6,230,995 |  |
| Home equity loans and lines of credit                       |   | 6,103,844 |  |   | 6,151,232 |  |
| Total consumer loans secured by real estate                 |   | 12,323,811 |  |   | 12,382,227 |  |
| Consumer loans not secured by real estate:                  |   |   |   |
| Retail installment contracts and auto loans - originated(4) |   | 20,088,220 |  |   | 18,539,588 |  |
| Retail installment contracts and auto loans - purchased(4)  |   | 5,293,741 |  |   | 6,108,210 |  |
| Personal unsecured loans(5)                                 |   | 693,328 |  |   | 685,467 |  |
| Other consumer                                              |   | 973,026 |  |   | 1,032,580 |  |
| Total consumer loans held-for-investment                    |   | $ | 39,372,126 |  |   | $ | 38,748,072 |  |

|     |                                                                                             |
|-----|---------------------------------------------------------------------------------------------|
| (1) | These represent the Company's loan categories based on the SEC's Regulation S-X, Article 9. |

|     |                                                                        |
|-----|------------------------------------------------------------------------|
| (2) | These represent the Company's loan classes used to determine its ALLL. |

|     |                                                                                                                                                      |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Residential mortgages exclude $219.2 million and $236.8 million of LHFS at March 31, 2016 and December 31, 2015, respectively. |

|     |                                                                                                                                                 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | RIC and auto loans exclude $1.3 billion and $905.7 million of LHFS at March 31, 2016 and December 31, 2015, respectively. |

|     |                                                                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Personal unsecured loans exclude $1.0 billion and $2.0 billion of LHFS at March 31, 2016 and December 31, 2015, respectively. |

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |
|                                         |   | March 31, 2016 |   | December 31, 2015 |
|                                         |   | (in thousands) |
| RICs - Purchased:                            |   |   |   |
| UPB (1)                                      |   | $ | 5,808,885 |  |   | $ | 6,709,748 |  |
| UPB - FVO (2)                           |   | 100,588 |  |   | 140,995 |  |
| Total UPB                                    |   | 5,909,473 |  |   | 6,850,743 |  |
| Purchase Marks (3)                           | (615,732 | ) |   | (742,533 | ) |
| Total RICs - Purchased                       |   | 5,293,741 |  |   | 6,108,210 |  |
|                                         |   |   |   |   |
| RICs - Originated:                           |   |   |   |   |
| UPB (1)                                 |   | 20,615,741 |  |   | 19,069,801 |  |
| Net discount                                 |   | (545,071 | ) |   | (548,057 | ) |
| Total RICs - Originated                      | 20,070,670 |  |   | 18,521,744 |  |
| SBNA auto loans                              |   | 17,550 |  |   | 17,844 |  |
| Total RICs originated post-change in control |   | 20,088,220 |  |   | 18,539,588 |  |
| Total RICs and auto loans                    |   | $ | 25,381,961 |  |   | $ | 24,647,798 |  |

----

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                    | Three-Month Period Ended March 31, 2016 |
|                                                                                    | Commercial |   | Consumer |   | Unallocated |   | Total |
|                                                                                    | (in thousands) |
| Allowance for loan and lease losses, beginning of period                                | $ | 435,717 |  |   | $ | 2,679,666 |  |   | $ | 45,328 |  |   | $ | 3,160,711 |  |
| Provision for loan and lease losses                                                     | 111,034 |  |   | 746,633 |  |   | — |  |   | 857,667 |  |
| Charge-offs                                                                             | (40,315 | ) |   | (1,129,413 | ) |   | — |  |   | (1,169,728 | ) |
| Recoveries                                                                              | 25,414 |  |   | 606,539 |  |   | — |  |   | 631,953 |  |
| Charge-offs, net of recoveries                                                          | (14,901 | ) |   | (522,874 | ) |   | — |  |   | (537,775 | ) |
| Allowance for loan and lease losses, end of period                                      | $ | 531,850 |  |   | $ | 2,903,425 |  |   | $ | 45,328 |  |   | $ | 3,480,603 |  |
| Reserve for unfunded lending commitments, beginning of period                           | $ | 147,397 |  |   | $ | — |  |   | $ | — |  |   | $ | 147,397 |  |
| Provision for unfunded lending commitments                                              | 24,611 |  |   | — |  |   | — |  |   | 24,611 |  |
| Loss on unfunded lending commitments                                                    | — |  |   | — |  |   | — |  |   | — |  |
| Reserve for unfunded lending commitments, end of period                                 | 172,008 |  |   | — |  |   | — |  |   | 172,008 |  |
| Total allowance for credit losses, end of period                                        | $ | 703,858 |  |   | $ | 2,903,425 |  |   | $ | 45,328 |  |   | $ | 3,652,611 |  |
| Ending balance, individually evaluated for impairment(1)                                | $ | 129,399 |  |   | $ | 1,009,528 |  |   | $ | — |  |   | $ | 1,138,927 |  |
| Ending balance, collectively evaluated for impairment                                   | 402,451 |  |   | 1,893,896 |  |   | 45,328 |  |   | 2,341,675 |  |
|                                                                                    |   |   |   |   |   |   |   |
| Financing receivables:                                                                  |   |   |   |   |   |   |   |
| Ending balance                                                                          | $ | 41,722,116 |  |   | $ | 41,915,467 |  |   | $ | — |  |   | $ | 83,637,583 |  |
| Ending balance, evaluated under the fair value option or lower of cost or fair value(2) | — |  |   | 2,829,151 |  |   | — |  |   | 2,829,151 |  |
| Ending balance, individually evaluated for impairment(1)                                | 638,617 |  |   | 4,435,725 |  |   | — |  |   | 5,074,342 |  |
| Ending balance, collectively evaluated for impairment                                   | 41,083,499 |  |   | 34,650,591 |  |   | — |  |   | 75,734,090 |  |

----

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                    | Three-Month Period Ended March 31, 2015 |
|                                                                                    | Commercial |   | Consumer |   | Unallocated |   | Total |
|                                                                                    | (in thousands) |
| Allowance for loan and lease losses, beginning of period                                | $ | 401,553 |  |   | $ | 1,267,025 |  |   | $ | 33,024 |  |   | $ | 1,701,602 |  |
| Provision for loan and lease losses                                                     | 24,801 |  |   | 995,563 |  |   | 38,275 |  |   | 1,058,639 |  |
| Other(1)                                                                                | — |  |   | (27,117 | ) |   | — |  |   | (27,117 | ) |
| Charge-offs                                                                             | (19,339 | ) |   | (942,975 | ) |   | — |  |   | (962,314 | ) |
| Recoveries                                                                              | 5,999 |  |   | 504,478 |  |   | — |  |   | 510,477 |  |
| Charge-offs, net of recoveries                                                          | (13,340 | ) |   | (438,497 | ) |   | — |  |   | (451,837 | ) |
| Allowance for loan and lease losses, end of period                                      | $ | 413,014 |  |   | $ | 1,796,974 |  |   | $ | 71,299 |  |   | $ | 2,281,287 |  |
|                                                                                    |   |   |   |   |   |   |   |
| Reserve for unfunded lending commitments, beginning of period                           | $ | 132,641 |  |   | $ | — |  |   | $ | — |  |   | $ | 132,641 |  |
| Provision for unfunded lending commitments                                              | (5,000 | ) |   | — |  |   | — |  |   | (5,000 | ) |
| Loss on unfunded lending commitments                                                    | — |  |   | — |  |   | — |  |   | — |  |
| Reserve for unfunded lending commitments, end of period                                 | 127,641 |  |   | — |  |   | — |  |   | 127,641 |  |
| Total allowance for credit losses, end of period                                        | $ | 540,655 |  |   | $ | 1,796,974 |  |   | $ | 71,299 |  |   | $ | 2,408,928 |  |
| Ending balance, individually evaluated for impairment(2)                                | $ | 78,665 |  |   | $ | 286,453 |  |   | $ | — |  |   | $ | 365,118 |  |
| Ending balance, collectively evaluated for impairment                                   | 334,349 |  |   | 1,510,521 |  |   | 71,299 |  |   | 1,916,169 |  |
|                                                                                    |   |   |   |   |   |   |   |
| Financing receivables:                                                                  |   |   |   |   |   |   |   |
| Ending balance                                                                          | $ | 38,335,323 |  |   | $ | 41,465,532 |  |   | $ | — |  |   | $ | 79,800,855 |  |
| Ending balance, evaluated under the fair value option or lower of cost or fair value(3) | 44,325 |  |   | 1,993,666 |  |   | — |  |   | 2,037,991 |  |
| Ending balance, individually evaluated for impairment(2)                                | 478,179 |  |   | 3,020,216 |  |   | — |  |   | 3,498,395 |  |
| Ending balance, collectively evaluated for impairment                                   | 37,812,819 |  |   | 36,451,650 |  |   | — |  |   | 74,264,469 |  |

|     |                                                                                                                                                                                  |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The "Other" amount represents the impact on the ALLL in connection with SC classifying approximately $1.0 billion of RICs as held-for-sale during the first quarter of 2015. |

|     |                                            |
|-----|--------------------------------------------|
| (2) | Consists primarily of loans in TDR status. |

|     |                                                                            |
|-----|----------------------------------------------------------------------------|
| (3) | Represents LHFS and those loans for which the Company has elected the FVO. |

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | Three Month Period Ended March 31, 2016 |
|                                                     | Purchased |   | Originated |   | Total |
|                                                     | (in thousands) |
| Allowance for loan and lease losses, beginning of period | $ | 590,807 |  |   | $ | 1,891,989 |  |   | $ | 2,482,796 |  |
| Provision for / (Release of) loan and lease losses       | 73,635 |  |   | 674,420 |  |   | 748,055 |  |
| Other                                                    | — |  |   | — |  |   | — |  |
| Charge-offs                                              | (264,792 | ) |   | (825,080 | ) |   | (1,089,872 | ) |
| Recoveries                                               | 189,457 |  |   | 395,941 |  |   | 585,398 |  |
| Charge-offs, net of recoveries                           | (75,335 | ) |   | (429,139 | ) |   | (504,474 | ) |
| Allowance for loan and lease losses, end of period       | $ | 589,107 |  |   | $ | 2,137,270 |  |   | $ | 2,726,377 |  |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | Three Month Period Ended March 31, 2015 |
|                                                     | Purchased |   | Originated |   | Total |
|                                                     | (in thousands) |
| Allowance for loan and lease losses, beginning of period | $ | 963 |  |   | $ | 709,024 |  |   | $ | 709,987 |  |
| Provision for / (Release of) loan and lease losses       | 498,905 |  |   | 380,138 |  |   | 879,043 |  |
| Other                                                    | (27,117 | ) |   | — |  |   | (27,117 | ) |
| Charge-offs                                              | (487,624 | ) |   | (319,002 | ) |   | (806,626 | ) |
| Recoveries                                               | 334,104 |  |   | 149,993 |  |   | 484,097 |  |
| Charge-offs, net of recoveries                           | (153,520 | ) |   | (169,009 | ) |   | (322,529 | ) |
| Allowance for loan and lease losses, end of period       | $ | 319,231 |  |   | $ | 920,153 |  |   | $ | 1,239,384 |  |

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |
|                                                     | March 31, 2016 |   | December 31, 2015 |
|                                                     | (in thousands) |
| Non-accrual loans:                                       |   |   |   |
| Commercial:                                              |   |   |   |
| Commercial real estate:                                  |   |   |   |
| Corporate banking                                        | $ | 86,397 |  |   | $ | 71,979 |  |
| Middle market commercial real estate                     | 69,249 |  |   | 37,745 |  |
| Santander real estate capital                            | 2,754 |  |   | 3,454 |  |
| Commercial and industrial                                | 249,463 |  |   | 85,745 |  |
| Multifamily                                              | 4,855 |  |   | 9,162 |  |
| Other commercial                                         | 2,959 |  |   | 2,982 |  |
| Total commercial loans                                   | 415,677 |  |   | 211,067 |  |
| Consumer:                                                |   |   |   |
| Residential mortgages                                    | 168,212 |  |   | 173,780 |  |
| Home equity loans and lines of credit                    | 123,883 |  |   | 127,171 |  |
| Retail installment contracts and auto loans - originated | 541,565 |  |   | 701,785 |  |
| Retail installment contracts and auto loans - purchased  | 262,233 |  |   | 417,276 |  |
| Personal unsecured loans                                 | 400 |  |   | 895 |  |
| Other consumer                                           | 16,474 |  |   | 23,125 |  |
| Total consumer loans                                     | 1,112,767 |  |   | 1,444,032 |  |
| Total non-accrual loans                                  | 1,528,444 |  |   | 1,655,099 |  |
|                                                     |   |   |   |
| Other real estate owned ("OREO")                         | 36,981 |  |   | 38,959 |  |
| Repossessed vehicles                                     | 188,744 |  |   | 172,375 |  |
| Foreclosed and other repossessed assets                  | 1,821 |  |   | 374 |  |
| Total OREO and other repossessed assets                  | 227,546 |  |   | 211,708 |  |
| Total non-performing assets                              | $ | 1,755,990 |  |   | $ | 1,866,807 |  |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | As of March 31, 2016 |
|                                                     |   | 30-89Days PastDue |   | GreaterThan 90Days |   | TotalPast Due |   | Current |   | TotalFinancingReceivables(1) |   | Recorded Investment> 90 DaysandAccruing |
|                                                     | (in thousands) |
| Commercial:                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial real estate:                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate banking                                        |   | $ | 18,862 |  |   | $ | 31,754 |  |   | $ | 50,616 |  |   | $ | 2,908,560 |  |   | $ | 2,959,176 |  |   | $ | — |  |
| Middle market commercial real estate                     |   | 39,964 |  |   | 18,014 |  |   | 57,978 |  |   | 4,797,107 |  |   | 4,855,085 |  |   | — |  |
| Santander real estate capital                            |   | 10,240 |  |   | — |  |   | 10,240 |  |   | 1,490,790 |  |   | 1,501,030 |  |   | — |  |
| Commercial and industrial                                |   | 54,518 |  |   | 38,407 |  |   | 92,925 |  |   | 20,243,903 |  |   | 20,336,828 |  |   | — |  |
| Multifamily                                              |   | 2,117 |  |   | 284 |  |   | 2,401 |  |   | 9,328,081 |  |   | 9,330,482 |  |   | — |  |
| Other commercial                                         |   | 7,185 |  |   | 982 |  |   | 8,167 |  |   | 2,731,348 |  |   | 2,739,515 |  |   | — |  |
| Consumer:                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential mortgages                                    |   | 122,560 |  |   | 138,503 |  |   | 261,063 |  |   | 6,178,055 |  |   | 6,439,118 |  |   | — |  |
| Home equity loans and lines of credit                    |   | 28,548 |  |   | 77,532 |  |   | 106,080 |  |   | 5,997,764 |  |   | 6,103,844 |  |   | — |  |
| Retail installment contracts and auto loans - originated |   | 1,773,921 |  |   | 158,701 |  |   | 1,932,622 |  |   | 19,500,968 |  |   | 21,433,590 |  |   | — |  |
| Retail installment contracts and auto loans - purchased  |   | 887,473 |  |   | 64,310 |  |   | 951,783 |  |   | 4,341,958 |  |   | 5,293,741 |  |   | — |  |
| Personal unsecured loans                                 |   | 79,949 |  |   | 77,102 |  |   | 157,051 |  |   | 1,515,097 |  |   | 1,672,148 |  |   | 72,878 |  |
| Other consumer                                           |   | 33,103 |  |   | 25,231 |  |   | 58,334 |  |   | 914,692 |  |   | 973,026 |  |   | — |  |
| Total                                                    |   | $ | 3,058,440 |  |   | $ | 630,820 |  |   | $ | 3,689,260 |  |   | $ | 79,948,323 |  |   | $ | 83,637,583 |  |   | $ | 72,878 |  |

|     |                                     |
|-----|-------------------------------------|
| (1) | Financing receivables include LHFS. |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | As of December 31, 2015 |
|                                                     |   | 30-89Days PastDue |   | GreaterThan 90Days |   | TotalPast Due |   | Current |   | TotalFinancingReceivable(1) |   | RecordedInvestment> 90 DaysandAccruing |
|                                                     | (in thousands) |
| Commercial:                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial real estate:                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate banking                                        |   | $ | 18,085 |  |   | $ | 30,000 |  |   | $ | 48,085 |  |   | $ | 2,901,004 |  |   | $ | 2,949,089 |  |   | $ | — |  |
| Middle market commercial real estate                     |   | 575 |  |   | 21,063 |  |   | 21,638 |  |   | 4,201,721 |  |   | 4,223,359 |  |   | — |  |
| Santander real estate capital                            |   | — |  |   | 654 |  |   | 654 |  |   | 1,549,815 |  |   | 1,550,469 |  |   | — |  |
| Commercial and industrial                                |   | 31,067 |  |   | 44,032 |  |   | 75,099 |  |   | 19,799,134 |  |   | 19,874,233 |  |   | — |  |
| Multifamily                                              |   | 2,951 |  |   | 4,537 |  |   | 7,488 |  |   | 9,430,975 |  |   | 9,438,463 |  |   | — |  |
| Other commercial                                         |   | 3,968 |  |   | 2,079 |  |   | 6,047 |  |   | 2,670,459 |  |   | 2,676,506 |  |   | — |  |
| Consumer:                                                |   |  |   |  |   |  |   |  |   |  |   |    |
| Residential mortgages                                    |   | 140,323 |  |   | 142,510 |  |   | 282,833 |  |   | 6,184,922 |  |   | 6,467,755 |  |   | — |  |
| Home equity loans and lines of credit                    |   | 28,166 |  |   | 79,715 |  |   | 107,881 |  |   | 6,043,351 |  |   | 6,151,232 |  |   | — |  |
| Retail installment contracts and auto loans - originated |   | 2,149,480 |  |   | 212,569 |  |   | 2,362,049 |  |   | 17,083,248 |  |   | 19,445,297 |  |   | — |  |
| Retail installment contracts and auto loans - purchased  |   | 1,242,545 |  |   | 109,258 |  |   | 1,351,803 |  |   | 4,756,407 |  |   | 6,108,210 |  |   | — |  |
| Personal unsecured loans                                 |   | 78,741 |  |   | 83,686 |  |   | 162,427 |  |   | 2,477,454 |  |   | 2,639,881 |  |   | 79,729 |  |
| Other consumer                                           |   | 41,667 |  |   | 32,573 |  |   | 74,240 |  |   | 958,340 |  |   | 1,032,580 |  |   | — |  |
| Total                                                    |   | $ | 3,737,568 |  |   | $ | 762,676 |  |   | $ | 4,500,244 |  |   | $ | 78,056,830 |  |   | $ | 82,557,074 |  |   | $ | 79,729 |  |

|     |                                     |
|-----|-------------------------------------|
| (1) | Financing receivables include LHFS. |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     |   | March 31, 2016 |
|                                                     |   | Recorded Investment(1) |   | UnpaidPrincipalBalance |   | RelatedSpecificReserves |   | AverageRecordedInvestment |
|                                                     |   | (in thousands) |
| With no related allowance recorded:                      |   |   |   |   |   |   |   |   |
| Commercial:                                              |   |   |   |   |   |   |   |   |
| Commercial real estate:                                  |   |   |   |   |   |   |   |   |
| Corporate banking                                        |   | $ | 34,657 |  |   | $ | 37,396 |  |   | $ | — |  |   | $ | 37,750 |  |
| Middle market commercial real estate                     |   | 77,307 |  |   | 122,255 |  |   | — |  |   | 77,816 |  |
| Santander real estate capital                            |   | 2,754 |  |   | 2,754 |  |   | — |  |   | 2,785 |  |
| Commercial and industrial                                |   | 5,360 |  |   | 6,636 |  |   | — |  |   | 4,498 |  |
| Multifamily                                              |   | 13,525 |  |   | 14,537 |  |   | — |  |   | 11,496 |  |
| Other commercial                                         |   | 193 |  |   | 193 |  |   | — |  |   | 216 |  |
| Consumer:                                                |   |   |   |   |   |   |   |   |
| Residential mortgages                                    |   | 68,860 |  |   | 68,860 |  |   | — |  |   | 47,834 |  |
| Home equity loans and lines of credit                    |   | 52,211 |  |   | 52,211 |  |   | — |  |   | 41,646 |  |
| Retail installment contracts and auto loans - originated |   | 12 |  |   | 12 |  |   | — |  |   | 14 |  |
| Retail installment contracts and auto loans - purchased  |   | 61,649 |  |   | 78,831 |  |   | — |  |   | 68,674 |  |
| Personal unsecured loans(2)                              |   | 19,775 |  |   | 19,775 |  |   | — |  |   | 16,320 |  |
| Other consumer                                           |   | 19,800 |  |   | 24,026 |  |   | — |  |   | 16,148 |  |
| With an allowance recorded:                              |   |   |   |   |   |   |   |   |
| Commercial:                                              |   |   |   |   |   |   |   |   |
| Commercial real estate:                                  |   |   |   |   |   |   |   |   |
| Corporate banking                                        |   | 41,908 |  |   | 43,172 |  |   | 7,814 |  |   | 36,642 |  |
| Middle market commercial real estate                     |   | 73,054 |  |   | 83,875 |  |   | 13,100 |  |   | 55,550 |  |
| Santander real estate capital                            |   | — |  |   | — |  |   | — |  |   | 327 |  |
| Commercial and industrial                                |   | 310,338 |  |   | 315,312 |  |   | 108,141 |  |   | 211,848 |  |
| Multifamily                                              |   | 4,285 |  |   | 4,290 |  |   | 233 |  |   | 4,969 |  |
| Other commercial                                         |   | 624 |  |   | 1,077 |  |   | 111 |  |   | 1,920 |  |
| Consumer:                                                |   |   |   |   |   |   |   |   |
| Residential mortgages                                    |   | 131,665 |  |   | 159,330 |  |   | 25,157 |  |   | 151,965 |  |
| Home equity loans and lines of credit                    |   | 51,512 |  |   | 66,348 |  |   | 4,242 |  |   | 61,680 |  |
| Retail installment contracts and auto loans - originated |   | 1,687,960 |  |   | 1,727,498 |  |   | 509,735 |  |   | 1,506,968 |  |
| Retail installment contracts and auto loans - purchased  |   | 2,324,690 |  |   | 2,627,273 |  |   | 466,941 |  |   | 2,389,399 |  |
|   Personal unsecured loans                     |   | 1,607 |  |   | 2,838 |  |   | 421 |  |   | 1,723 |  |
|   Other consumer                               |   | 14,567 |  |   | 18,996 |  |   | 3,032 |  |   | 16,615 |  |
| Total:                                                   |   |   |   |   |   |   |   |   |
| Commercial                                               |   | $ | 564,005 |  |   | $ | 631,497 |  |   | $ | 129,399 |  |   | $ | 445,817 |  |
| Consumer                                                 |   | 4,434,308 |  |   | 4,845,998 |  |   | 1,009,528 |  |   | 4,318,986 |  |
| Total                                                    |   | $ | 4,998,313 |  |   | $ | 5,477,495 |  |   | $ | 1,138,927 |  |   | $ | 4,764,803 |  |

|     |                                                                                                                                                                                    |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Recorded investment includes deferred loan fees, net of deferred origination costs and unamortized purchase premiums, net of discounts as well as purchase accounting adjustments. |

|     |                |
|-----|----------------|
| (2) | Includes LHFS. |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     |   | December 31, 2015 |
|                                                     |   | Recorded Investment(1) |   | UnpaidPrincipalBalance |   | RelatedSpecificReserves |   | AverageRecordedInvestment |
|                                                     |   | (in thousands) |
| With no related allowance recorded:                      |   |   |   |   |   |   |   |   |
| Commercial:                                              |   |   |   |   |   |   |   |   |
| Commercial real estate:                                  |   |   |   |   |   |   |   |   |
|  Corporate banking                                  |   | $ | 40,843 |  |   | $ | 43,582 |  |   | $ | — |  |   | $ | 39,289 |  |
|  Middle market commercial real estate               |   | 78,325 |  |   | 123,495 |  |   | — |  |   | 103,059 |  |
|  Santander real estate capital                      |   | 2,815 |  |   | 2,815 |  |   | — |  |   | 2,899 |  |
| Commercial and industrial                                |   | 3,635 |  |   | 5,046 |  |   | — |  |   | 5,780 |  |
| Multifamily                                              |   | 9,467 |  |   | 10,488 |  |   | — |  |   | 15,980 |  |
| Other commercial                                         |   | 239 |  |   | 239 |  |   | — |  |   | 164 |  |
| Consumer:                                                |   |   |   |   |   |   |   |   |
| Residential mortgages                                    |   | 26,808 |  |   | 26,808 |  |   | — |  |   | 25,108 |  |
| Home equity loans and lines of credit                    |   | 31,080 |  |   | 31,080 |  |   | — |  |   | 29,155 |  |
| Retail installment contracts and auto loans - originated |   | 15 |  |   | 15 |  |   | — |  |   | 8 |  |
| Retail installment contracts and auto loans - purchased  |   | 75,698 |  |   | 96,768 |  |   | — |  |   | 931,411 |  |
| Personal unsecured loans                                 |   | 12,865 |  |   | 12,865 |  |   | — |  |   | 6,729 |  |
| Other consumer                                           |   | 12,495 |  |   | 16,002 |  |   | — |  |   | 9,048 |  |
| With an allowance recorded:                              |   |   |   |   |   |   |   |   |
| Commercial:                                              |   |   |   |   |   |   |   |   |
|  Corporate banking                                  |   | 31,376 |  |   | 32,650 |  |   | 6,413 |  |   | 45,663 |  |
|  Middle market commercial real estate               |   | 38,046 |  |   | 43,745 |  |   | 5,624 |  |   | 49,072 |  |
|  Santander real estate capital                      |   | 654 |  |   | 782 |  |   | 98 |  |   | 2,266 |  |
| Commercial and industrial                                |   | 113,358 |  |   | 142,308 |  |   | 35,184 |  |   | 88,771 |  |
| Multifamily                                              |   | 5,653 |  |   | 5,658 |  |   | 443 |  |   | 5,816 |  |
| Other commercial                                         |   | 3,216 |  |   | 4,465 |  |   | 749 |  |   | 2,574 |  |
| Consumer:                                                |   |   |   |   |   |   |   |   |
| Residential mortgages                                    |   | 172,265 |  |   | 200,176 |  |   | 25,034 |  |   | 151,539 |  |
| Home equity loans and lines of credit                    |   | 71,847 |  |   | 86,355 |  |   | 3,757 |  |   | 65,990 |  |
| Retail installment contracts and auto loans - originated |   | 1,325,975 |  |   | 1,359,585 |  |   | 408,208 |  |   | 691,244 |  |
| Retail installment contracts and auto loans - purchased  |   | 2,454,108 |  |   | 2,773,536 |  |   | 454,926 |  |   | 1,227,054 |  |
| Personal unsecured loans                                 |   | 1,839 |  |   | 2,226 |  |   | 430 |  |   | 9,158 |  |
| Other consumer                                           |   | 18,663 |  |   | 23,790 |  |   | 3,225 |  |   | 17,479 |  |
| Total:                                                   |   |   |   |   |   |   |   |   |
| Commercial                                               |   | $ | 327,627 |  |   | $ | 415,273 |  |   | $ | 48,511 |  |   | $ | 361,333 |  |
| Consumer                                                 |   | 4,203,658 |  |   | 4,629,206 |  |   | 895,580 |  |   | 3,163,923 |  |
| Total                                                    |   | $ | 4,531,285 |  |   | $ | 5,044,479 |  |   | $ | 944,091 |  |   | $ | 3,525,256 |  |

|     |                                                                                                                                                                                    |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Recorded investment includes deferred loan fees, net of deferred origination costs and unamortized purchase premiums, net of discounts as well as purchase accounting adjustments. |

----

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                   |   | Commercial Real Estate |   |   |   |   |   |   |   |   |
| March 31, 2016    |   | Corporatebanking |   | Middlemarketcommercialreal estate |   | Santanderreal estatecapital |   | Commercial and industrial |   | Multifamily |   | Remainingcommercial |   | Total(1) |
|                   |   | (in thousands) |
| Regulatory Rating:     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass                   |   | $ | 2,675,141 |  |   | $ | 4,621,615 |  |   | $ | 1,401,131 |  |   | $ | 18,884,555 |  |   | $ | 9,094,426 |  |   | $ | 2,702,806 |  |   | $ | 39,379,674 |  |
| Special Mention        |   | 80,161 |  |   | 80,253 |  |   | 71,246 |  |   | 587,511 |  |   | 169,933 |  |   | 12,441 |  |   | 1,001,545 |  |
| Substandard            |   | 190,974 |  |   | 98,361 |  |   | 28,652 |  |   | 833,213 |  |   | 65,717 |  |   | 23,698 |  |   | 1,240,615 |  |
| Doubtful               |   | 12,901 |  |   | 54,856 |  |   | — |  |   | 31,549 |  |   | 406 |  |   | 570 |  |   | 100,282 |  |
| Total commercial loans |   | $ | 2,959,177 |  |   | $ | 4,855,085 |  |   | $ | 1,501,029 |  |   | $ | 20,336,828 |  |   | $ | 9,330,482 |  |   | $ | 2,739,515 |  |   | $ | 41,722,116 |  |

|     |                                     |
|-----|-------------------------------------|
| (1) | Financing receivables include LHFS. |

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                   |   | Commercial Real Estate |   |   |   |   |   |   |   |   |
| December 31, 2015 |   | Corporatebanking |   | Middlemarketcommercialreal estate |   | Santanderreal estatecapital |   | Commercial and industrial |   | Multifamily |   | Remainingcommercial |   | Total(1) |
|                   |   | (in thousands) |
| Regulatory Rating:     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass                   |   | $ | 2,627,159 |  |   | $ | 4,055,623 |  |   | $ | 1,363,031 |  |   | $ | 18,881,150 |  |   | $ | 9,114,466 |  |   | $ | 2,631,935 |  |   | $ | 38,673,364 |  |
| Special Mention        |   | 99,090 |  |   | 29,620 |  |   | 144,597 |  |   | 492,128 |  |   | 249,165 |  |   | 28,686 |  |   | 1,043,286 |  |
| Substandard            |   | 208,785 |  |   | 117,571 |  |   | 42,187 |  |   | 467,983 |  |   | 74,410 |  |   | 15,601 |  |   | 926,537 |  |
| Doubtful               |   | 14,055 |  |   | 20,545 |  |   | 654 |  |   | 32,972 |  |   | 422 |  |   | 284 |  |   | 68,932 |  |
| Total commercial loans |   | $ | 2,949,089 |  |   | $ | 4,223,359 |  |   | $ | 1,550,469 |  |   | $ | 19,874,233 |  |   | $ | 9,438,463 |  |   | $ | 2,676,506 |  |   | $ | 40,712,119 |  |

|     |                                     |
|-----|-------------------------------------|
| (1) | Financing receivables include LHFS. |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | March 31, 2016 |   | December 31, 2015 |
| Credit Score Range(2) |   | Retail installment contracts and auto loans(3) |   | Percent |   | Retail installment contracts and auto loans(3) |   | Percent |
|                  |   | (in thousands) |
| No FICO®(1)      |   | $ | 4,660,293 |  |   | 17.4 | % |   | $ | 4,913,606 |  |   | 19.2 | % |
| <600               |   | 14,356,257 |  |   | 53.7 | % |   | 13,374,065 |  |   | 52.3 | % |
| 600-639               |   | 4,540,230 |  |   | 17.0 | % |   | 4,260,982 |  |   | 16.7 | % |
| >=640              |   | 3,170,551 |  |   | 11.9 | % |   | 3,004,854 |  |   | 11.8 | % |
| Total                 |   | $ | 26,727,331 |  |   | 100.0 | % |   | $ | 25,553,507 |  |   | 100.0 | % |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Residential Mortgages(1)(3) |
| March 31, 2016        |   | N/A(2) |   | LTV<=70% |   | 70.01-80% |   | 80.01-90% |   | 90.01-100% |   | 100.01-110% |   | LTV>110% |   | Grand Total |
| FICO® Score |   | (in thousands) |
| N/A(2)                |   | $ | 434,206 |  |   | $ | 13,447 |  |   | $ | 1,273 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 448,926 |  |
| <600               |   | 124 |  |   | 221,524 |  |   | 61,470 |  |   | 26,279 |  |   | 19,021 |  |   | 9,100 |  |   | 10,509 |  |   | 348,027 |  |
| 600-639               |   | 53 |  |   | 150,320 |  |   | 40,977 |  |   | 22,786 |  |   | 13,105 |  |   | 4,091 |  |   | 6,845 |  |   | 238,177 |  |
| 640-679               |   | 66 |  |   | 257,146 |  |   | 97,181 |  |   | 39,952 |  |   | 39,929 |  |   | 8,262 |  |   | 10,465 |  |   | 453,001 |  |
| 680-719               |   | 84 |  |   | 464,194 |  |   | 167,379 |  |   | 62,961 |  |   | 48,935 |  |   | 7,942 |  |   | 18,479 |  |   | 769,974 |  |
| 720-759               |   | 108 |  |   | 673,413 |  |   | 336,181 |  |   | 65,824 |  |   | 54,597 |  |   | 10,846 |  |   | 19,882 |  |   | 1,160,851 |  |
| >=760              |   | 345 |  |   | 2,061,656 |  |   | 750,250 |  |   | 111,211 |  |   | 57,432 |  |   | 18,473 |  |   | 20,795 |  |   | 3,020,162 |  |
| Grand Total           |   | $ | 434,986 |  |   | $ | 3,841,700 |  |   | $ | 1,454,711 |  |   | $ | 329,013 |  |   | $ | 233,019 |  |   | $ | 58,714 |  |   | $ | 86,975 |  |   | $ | 6,439,118 |  |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Home Equity Loans and Lines of Credit(2) |
| March 31, 2016        |   | N/A(1) |   | LTV<=70% |   | 70.01-90% |   | 90.01-110% |   | LTV>110% |   | Grand Total |
| FICO® Score |   | (in thousands) |
| N/A(1)                |   | $ | 189,921 |  |   | $ | 553 |  |   | $ | 919 |  |   | $ | — |  |   | $ | — |  |   | $ | 191,393 |  |
| <600               |   | 10,979 |  |   | 150,526 |  |   | 75,867 |  |   | 21,222 |  |   | 20,745 |  |   | 279,339 |  |
| 600-639               |   | 8,447 |  |   | 138,913 |  |   | 83,320 |  |   | 20,173 |  |   | 12,142 |  |   | 262,995 |  |
| 640-679               |   | 11,587 |  |   | 252,008 |  |   | 175,327 |  |   | 31,474 |  |   | 25,246 |  |   | 495,642 |  |
| 680-719               |   | 11,691 |  |   | 430,595 |  |   | 322,550 |  |   | 55,127 |  |   | 30,885 |  |   | 850,848 |  |
| 720-759               |   | 10,456 |  |   | 613,886 |  |   | 428,576 |  |   | 62,879 |  |   | 39,619 |  |   | 1,155,416 |  |
| >=760              |   | 28,449 |  |   | 1,616,776 |  |   | 1,023,547 |  |   | 130,401 |  |   | 69,038 |  |   | 2,868,211 |  |
| Grand Total           |   | $ | 271,530 |  |   | $ | 3,203,257 |  |   | $ | 2,110,106 |  |   | $ | 321,276 |  |   | $ | 197,675 |  |   | $ | 6,103,844 |  |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Residential Mortgages(1)(3) |
| December 31, 2015     |   | N/A (2) |   | LTV<=70% |   | 70.01-80% |   | 80.01-90% |   | 90.01-100% |   | 100.01-110% |   | LTV>110% |   | Grand Total |
| FICO® Score |   | (in thousands) |
| N/A(2)                |   | $ | 461,839 |  |   | $ | 12,250 |  |   | $ | 2,769 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 476,858 |  |
| <600               |   | 128 |  |   | 226,185 |  |   | 69,698 |  |   | 30,491 |  |   | 18,279 |  |   | 8,441 |  |   | 9,602 |  |   | 362,824 |  |
| 600-639               |   | 1 |  |   | 158,290 |  |   | 43,002 |  |   | 23,281 |  |   | 15,585 |  |   | 5,238 |  |   | 7,579 |  |   | 252,976 |  |
| 640-679               |   | 230 |  |   | 252,727 |  |   | 81,552 |  |   | 35,001 |  |   | 29,125 |  |   | 9,101 |  |   | 12,034 |  |   | 419,770 |  |
| 680-719               |   | 19 |  |   | 462,180 |  |   | 183,568 |  |   | 62,670 |  |   | 51,659 |  |   | 9,194 |  |   | 22,770 |  |   | 792,060 |  |
| 720-759               |   | 339 |  |   | 681,473 |  |   | 341,934 |  |   | 72,729 |  |   | 55,461 |  |   | 11,024 |  |   | 20,982 |  |   | 1,183,942 |  |
| >=760              |   | 84 |  |   | 2,049,268 |  |   | 717,671 |  |   | 112,721 |  |   | 57,385 |  |   | 21,580 |  |   | 20,616 |  |   | 2,979,325 |  |
| Grand Total           |   | $ | 462,640 |  |   | $ | 3,842,373 |  |   | $ | 1,440,194 |  |   | $ | 336,893 |  |   | $ | 227,494 |  |   | $ | 64,578 |  |   | $ | 93,583 |  |   | $ | 6,467,755 |  |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Home Equity Loans and Lines of Credit(2) |
| December 31, 2015     |   | N/A(1) |   | LTV<=70% |   | 70.01-90% |   | 90.01-110% |   | LTV>110% |   | Grand Total |
| FICO® Score |   | (in thousands) |
| N/A(1)                |   | $ | 192,379 |  |   | $ | 390 |  |   | $ | 305 |  |   | $ | — |  |   | $ | — |  |   | $ | 193,074 |  |
| <600               |   | 11,110 |  |   | 155,306 |  |   | 79,389 |  |   | 22,373 |  |   | 22,261 |  |   | 290,439 |  |
| 600-639               |   | 8,871 |  |   | 140,277 |  |   | 83,548 |  |   | 20,766 |  |   | 12,525 |  |   | 265,987 |  |
| 640-679               |   | 12,534 |  |   | 254,481 |  |   | 174,223 |  |   | 32,925 |  |   | 26,565 |  |   | 500,728 |  |
| 680-719               |   | 14,273 |  |   | 431,818 |  |   | 317,260 |  |   | 56,589 |  |   | 31,722 |  |   | 851,662 |  |
| 720-759               |   | 12,673 |  |   | 614,748 |  |   | 425,744 |  |   | 63,840 |  |   | 39,981 |  |   | 1,156,986 |  |
| >=760              |   | 34,579 |  |   | 1,644,168 |  |   | 1,007,561 |  |   | 135,571 |  |   | 70,477 |  |   | 2,892,356 |  |
| Grand Total           |   | $ | 286,419 |  |   | $ | 3,241,188 |  |   | $ | 2,088,030 |  |   | $ | 332,064 |  |   | $ | 203,531 |  |   | $ | 6,151,232 |  |

|                |
|----------------|
|                |  |  |  |  |  |  |  |
|           | March 31, 2016 |   | December 31, 2015 |
|           | (in thousands) |
| Performing     | $ | 4,178,248 |  |   | $ | 3,797,231 |  |
| Non-performing | 509,592 |  |   | 602,315 |  |
| Total          | $ | 4,687,840 |  |   | $ | 4,399,546 |  |

----

----

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                           | Three-Month Period Ended March 31, 2016 |
|                                                           | Number ofContracts |   | Pre-TDR RecordedInvestment(1) |   | Term Extension | Principal Forbearance | Other(4) | Post-TDR Recorded Investment(2) |
|                                                           | (in thousands) |
| Commercial:                                                    |   |   |   |   |   |   |   |   |
| Commercial real estate:                                        |   |   |   |   |   |   |   |   |
|  Corporate Banking                                        | 9 |  |   | $ | 47,776 |  |   | $ | (16 | ) | $ | (10,583 | ) | $ | (11 | ) | $ | 37,166 |  |
|  Middle market                                            | 3 |  |   | 10,454 |  |   | — |  | — |  | (69 | ) | 10,385 |  |
| Commercial and industrial                                      | 223 |  |   | 7,230 |  |   | (1 | ) | — |  | — |  | 7,229 |  |
| Consumer:                                                      |   |   |   |   |   |   |   |   |
| Residential mortgages(3)                                       | 49 |  |   | 6,648 |  |   | (1 | ) | — |  | 205 |  | 6,852 |  |
|  Home equity loans and lines of credit                    | 67 |  |   | 4,539 |  |   | 132 |  | — |  | (237 | ) | 4,434 |  |
|  Retail installment contracts and auto loans - originated | 27,695 |  |   | 514,066 |  |   | (83 | ) | — |  | (61 | ) | 513,922 |  |
|  Retail installment contracts and auto loans - purchased  | 14,344 |  |   | 175,968 |  |   | (598 | ) | — |  | (59 | ) | 175,311 |  |
|  Personal unsecured loans                                 | 17,055 |  |   | 21,345 |  |   | — |  | — |  | (129 | ) | 21,216 |  |
|  Other consumer                                           | 26 |  |   | 923 |  |   | — |  | — |  | (178 | ) | 745 |  |
| Total                                                          | 59,471 |  |   | $ | 788,949 |  |   | $ | (567 | ) | $ | (10,583 | ) | $ | (539 | ) | $ | 777,260 |  |

----

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                           | Three-Month Period Ended March 31, 2015 |
|                                                           | Number ofContracts |   | Pre-TDR RecordedInvestment(1) |   | Term Extension | Principal Forbearance | Other(4) | Post-TDR Recorded Investment(2) |
|                                                           | (in thousands) |
| Commercial:                                                    |   |
| Commercial real estate:                                        |   |   |   |   |   |   |   |   |
|  Corporate Banking                                        | 2 |  |   | $ | 1,448 |  |   | $ | — |  | $ | — |  | $ | (9 | ) | $ | 1,439 |  |
|  Middle Market                                            | 1 |  |   | 14,439 |  |   | — |  | — |  | — |  | 14,439 |  |
| Commercial and industrial                                      | 81 |  |   | 10,872 |  |   | (34 | ) | (2,679 | ) | — |  | 8,159 |  |
| Consumer:                                                      |   |   |   |   |   |   |   |   |
| Residential mortgages(3)                                       | 46 |  |   | 7,866 |  |   | — |  | (25 | ) | (253 | ) | 7,588 |  |
|  Home equity loans and lines of credit                    | 40 |  |   | 3,671 |  |   | — |  | — |  | — |  | 3,671 |  |
|  Retail installment contracts and auto loans - originated | 7,031 |  |   | 137,751 |  |   | (14 | ) | — |  | (58 | ) | 137,679 |  |
|  Retail installment contracts and auto loans - purchased  | 68,458 |  |   | 973,931 |  |   | (1,781 | ) | — |  | (407 | ) | 971,743 |  |
|  Personal unsecured loans                                 | 4,468 |  |   | 5,394 |  |   | — |  | — |  | (38 | ) | 5,356 |  |
|  Other consumer                                           | 15 |  |   | 920 |  |   | — |  | — |  | (8 | ) | 912 |  |
| Total                                                          | 80,142 |  |   | $ | 1,156,292 |  |   | $ | (1,829 | ) | $ | (2,704 | ) | $ | (773 | ) | $ | 1,150,986 |  |

|     |                                                                                                                                     |
|-----|-------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Post-TDR modification outstanding recorded investment amount is the month-end balance for the month that the modification occurred. |

|     |                                                                                                                        |
|-----|------------------------------------------------------------------------------------------------------------------------|
| (3) | The post-TDR modification outstanding recorded investment amounts for residential mortgages exclude interest reserves. |

|     |                                                                                                                         |
|-----|-------------------------------------------------------------------------------------------------------------------------|
| (4) | Other modifications may include modifications such as interest rate reductions, fee waivers, or capitalization of fees. |

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                  | Three-Month Period Ended March 31, |
|                                  | 2016 |   | 2015 |
|                                  | Number ofContracts |   | Recorded Investment(1) |   | Number ofContracts |   | Recorded Investment(1) |
|                                  | (in thousands) |
| Commercial                            |   |   |   |   |   |   |   |
| Commercial and industrial             | 55 |  |   | $ | 2,000 |  |   | 10 |  |   | $ | 276 |  |
| Consumer:                             |   |   |   |   |   |   |   |
| Residential mortgages                 | 11 |  |   | 1,812 |  |   | 8 |  |   | 931 |  |
| Home equity loans and lines of credit | 5 |  |   | 341 |  |   | 5 |  |   | 262 |  |
| RIC and auto loans                    | 13,124 |  |   | 214,702 |  |   | 9,693 |  |   | 142,534 |  |
| Unsecured loans                       | 1,599 |  |   | 1,827 |  |   | 64 |  |   | 58 |  |
| Other consumer                        | 2 |  |   | 24 |  |   | 2 |  |   | 244 |  |
| Total                                 | 14,796 |  |   | $ | 220,706 |  |   | 9,782 |  |   | $ | 144,305 |  |

|     |                                                                                                                                             |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The recorded investment represents the period-end balance at March 31, 2016 and 2015.  Does not include Chapter 7 bankruptcy TDRs. |

----

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |  |  |  |  |  |
|                                               |   | March 31, 2016 |   | December 31, 2015 |
|                                               |   | (in thousands) |
| Leased vehicles                                    |   | $ | 12,255,737 |  |   | $ | 11,297,752 |  |
| Origination fees and other costs                   |   | 30,127 |  |   | 29,800 |  |
| Manufacturer subvention payments, net of accretion |   | (1,153,959 | ) |   | (1,048,713 | ) |
| Leased vehicles, gross                             |   | 11,131,905 |  |   | 10,278,839 |  |
| Less: accumulated depreciation                     |   | (2,172,677 | ) |   | (1,901,004 | ) |
| Leased vehicles, net                               |   | $ | 8,959,228 |  |   | $ | 8,377,835 |  |

|                   |
|-------------------|
|                   |  |  |  |  |
|              |   |   |
|              |   |   |
| Remainder of 2016 |   | $ | 1,280,280 |  |
| 2017              |   | 1,140,764 |  |
| 2018              |   | 445,015 |  |
| 2019              |   | 24,175 |  |
| 2020              |   | 50 |  |
| Total             |   | $ | 2,890,284 |  |

----

|                           |
|---------------------------|
|                           |  |  |  |  |  |  |  |  |
|                      |   | March 31, 2016 |   | December 31, 2015 |
|                      |   | (in thousands) |
| Assets                    |   |   |   |   |
| Restricted cash           |   | $ | 1,982,611 |  |   | $ | 1,842,877 |  |
| Loans(1)                  |   | 23,213,909 |  |   | 23,494,541 |  |
| Leased vehicles, net      |   | 7,277,220 |  |   | 6,497,310 |  |
| Various other assets      |   | 589,279 |  |   | 630,017 |  |
| Total Assets              |   | $ | 33,063,019 |  |   | $ | 32,464,745 |  |
| Liabilities               |   |   |   |   |
| Notes payable             |   | $ | 30,515,797 |  |   | $ | 30,628,837 |  |
| Various other liabilities |   | 85,111 |  |   | 85,844 |  |
| Total Liabilities         |   | $ | 30,600,908 |  |   | $ | 30,714,681 |  |

----

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |  |
|                                           |   | Three-Month PeriodEnded March 31, |   |
|                                           |   | 2016 |   | 2015 |   |
|                                           |   | (in thousands) |
| Assets securitized                             |   | $ | 3,657,955 |  |   | $ | 3,981,855 |  |   |
|                                           |   |   |   |   |   |
| Net proceeds from new securitizations (1)      |   | 2,702,004 |  |   | 3,056,950 |  |   |
| Cash received for servicing fees (2)           |   | 194,365 |  |   | 161,962 |  |   |
| Net distributions from Trusts (2)              |   | 629,726 |  |   | 456,053 |  |   |
| Total cash received from securitization trusts |   | $ | 3,526,095 |  |   | $ | 3,674,965 |  |   |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |
|                                           |   | Three-Month PeriodEnded March 31, |
|                                           |   | 2016 |   | 2015 |
|                                           |   | (in thousands) |
| Assets securitized                             |   | $ | — |  |   | $ | — |  |
|                                           |   |   |   |   |
| Net proceeds from new securitizations          |   | $ | — |  |   | $ | — |  |
| Cash received for servicing fees               |   | 15,701 |  |   | 5,304 |  |
| Total cash received from securitization trusts |   | $ | 15,701 |  |   | $ | 5,304 |  |

----

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   | Consumer and Business Banking (1) |   | Auto Finance & Business Banking |   | Commercial Real Estate(2)  |   | Commercial Banking(2) |   | Global Corporate Banking |   | SC |   | Total |
|                             |   | (in thousands) |
| Goodwill at December 31, 2015    |   | $ | 1,550,321 |  |   | $ | 445,923 |  |   | $ | — |  |   | $ | 1,297,055 |  |   | $ | 131,130 |  |   | $ | 1,019,960 |  |   | $ | 4,444,389 |  |
| Disposals during the period      |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Additions during the period      |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Impairment during the period     |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Re-allocations during the period |   | 329,983 |  |   | (445,923 | ) |   | 870,411 |  |   | (754,471 | ) |   | — |  |   | — |  |   | — |  |
| Goodwill at March 31, 2016       |   | $ | 1,880,304 |  |   | $ | — |  |   | $ | 870,411 |  |   | $ | 542,584 |  |   | $ | 131,130 |  |   | $ | 1,019,960 |  |   | $ | 4,444,389 |  |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The small business banking, commercial business banking, and auto leasing lines of business formerly included in the Auto Finance and Business Banking reportable segment were combined with the Consumer and Business Banking reportable segment. The combined impact of these organizational changes resulted in the re-allocation of $330.0 million of goodwill from Auto Finance & Business Banking to Consumer and Business Banking. |

|         |                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Real Estate and Commercial Banking reportable segment was split into the Commercial Real Estate reportable segment and the Commercial Banking reportable segment, resulting in the re-allocation of $870.4 million of goodwill from Commercial Banking to Commercial Real Estate. |

|         |                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The commercial equipment vehicle financing and dealer floor plan lines of business, formerly included in the Auto Finance & Business Banking reportable segment were moved to the Commercial Banking business unit, resulting in the re-allocation of $115.9 million of goodwill from Auto Finance & Business Banking to Commercial Banking. |

----

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                      | March 31, 2016 |   | December 31, 2015 |
|                                      | NetCarryingAmount |   | AccumulatedAmortization |   | NetCarryingAmount |   | AccumulatedAmortization |
|                                      | (in thousands) |
| Intangibles subject to amortization:      |   |   |   |   |   |   |   |
| Dealer networks                           | $ | 495,036 |  |   | $ | (84,964 | ) |   | $ | 504,839 |  |   | $ | (75,161 | ) |
| Chrysler relationship                     | 106,250 |  |   | (32,500 | ) |   | 110,000 |  |   | (28,750 | ) |
| Core deposit intangibles                  | 152 |  |   | (295,690 | ) |   | 763 |  |   | (295,079 | ) |
| Other intangibles                         | 4,679 |  |   | (25,230 | ) |   | 5,453 |  |   | (24,455 | ) |
| Total intangibles subject to amortization | 606,117 |  |   | (438,384 | ) |   | 621,055 |  |   | (423,445 | ) |
| Intangibles not subject to amortization:  |   |   |   |   |   |   |   |
| Trade name                                | 18,000 |  |   | — |  |   | 18,000 |  |   | — |  |
| Total Intangibles                         | $ | 624,117 |  |   | $ | (438,384 | ) |   | $ | 639,055 |  |   | $ | (423,445 | ) |

----

|            |
|------------|
|            |  |  |  |  |  |  |  |  |  |  |  |  |
| Year       |   | Calendar Year Amount |   | Recorded To Date |   | Remaining Amount To Record |
|       |   | (in thousands) |
| 2016       |   | $ | 57,162 |  |   | $ | 14,938 |  |   | $ | 42,224 |  |
| 2017       |   | 55,055 |  |   | — |  |   | 55,055 |  |
| 2018       |   | 54,702 |  |   | — |  |   | 54,702 |  |
| 2019       |   | 54,501 |  |   | — |  |   | 54,501 |  |
| 2020       |   | 54,441 |  |   | — |  |   | 54,441 |  |
| Thereafter |   | 345,194 |  |   | — |  |   | 345,194 |  |

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |
|                                 |   | March 31, 2016 |   | December 31, 2015 |
|                                 |   | (in thousands) |
| Income tax receivables               |   | $ | 606,460 |  |   | $ | 613,339 |  |
| Derivative assets at fair value      |   | 481,733 |  |   | 355,169 |  |
| Other repossessed assets             |   | 190,565 |  |   | 172,749 |  |
| MSRs, at fair value                  |   | 130,742 |  |   | 147,233 |  |
| Prepaid expenses                     |   | 176,733 |  |   | 162,879 |  |
| OREO                                 |   | 36,981 |  |   | 38,959 |  |
| Miscellaneous assets and receivables |   | 681,511 |  |   | 403,487 |  |
| Total other assets                   |   | $ | 2,304,725 |  |   | $ | 1,893,815 |  |

----

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |
|                                              | Three-Month Period Ended |
|                                              | March 31, 2016 |   | March 31, 2015 |
|                                              | (in thousands) |
| Fair value at beginning of period                 | $ | 147,233 |  |   | $ | 145,047 |  |
| Mortgage servicing assets recognized              | 3,591 |  |   | 3,526 |  |
| Principal reductions                              | (5,726 | ) |   | (6,131 | ) |
| Change in fair value due to valuation assumptions | (14,356 | ) |   | (6,990 | ) |
| Fair value at end of period                       | $ | 130,742 |  |   | $ | 135,452 |  |

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                 | March 31, 2016 |   | December 31, 2015 |
|                                 | Balance |   | Percent of total deposits |   | Balance |   | Percent of total deposits |
|                                 | (in thousands) |
| Interest-bearing demand deposits     | $ | 9,804,755 |  |   | 17.1 | % |   | $ | 10,253,948 |  |   | 18.3 | % |
| Non-interest-bearing demand deposits | 8,565,569 |  |   | 14.9 | % |   | 8,240,023 |  |   | 14.7 | % |
| Savings                              | 4,149,767 |  |   | 7.2 | % |   | 3,956,165 |  |   | 7.0 | % |
| Customer repurchase accounts         | 879,411 |  |   | 1.5 | % |   | 896,736 |  |   | 1.6 | % |
| Money market                         | 24,589,904 |  |   | 42.8 | % |   | 24,254,357 |  |   | 43.2 | % |
| Certificates of deposit              | 9,474,844 |  |   | 16.5 | % |   | 8,513,003 |  |   | 15.2 | % |
| Total Deposits (1)                   | $ | 57,464,250 |  |   | 100 | % |   | $ | 56,114,232 |  |   | 100 | % |

|        |
|--------|
|        |  |  |  |  |  |
|   |   |   |   |   |   |

|        |
|--------|
|        |  |
|   |   |

|        |
|--------|
|        |  |
|   |   |

----

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                     | March 31, 2016 |   | December 31, 2015 |
|                                                                                     | Balance |   | EffectiveRate |   | Balance |   | EffectiveRate |
|                                                                                     | (dollars in thousands) |
| 4.625% senior notes, due April 2016                                                 | $ | 475,982 |  |   | 4.85 | % |   | $ | 475,723 |  |   | 4.85 | % |
| Senior notes with related party, due August 2017(1)                                      | 1,500,000 |  |   | 2.80 | % |   | — |  |   | — | % |
| 3.45% senior notes, due August 2018                                                      | 497,999 |  |   | 3.62 | % |   | 497,800 |  |   | 3.62 | % |
| 2.65% senior notes, due April 2020                                                       | 993,527 |  |   | 2.82 | % |   | 993,151 |  |   | 2.82 | % |
| 4.50% senior notes, due July 2025                                                        | 1,094,599 |  |   | 4.56 | % |   | 1,094,483 |  |   | 4.56 | % |
| Junior subordinated debentures - Capital Trust VI, due June 2036                         | 69,781 |  |   | 7.91 | % |   | 69,775 |  |   | 7.91 | % |
| Common securities - Capital Trust VI                                                     | 10,000 |  |   | 7.91 | % |   | 10,000 |  |   | 7.91 | % |
| Junior subordinated debentures - Capital Trust IX, due July 2036                         | 149,411 |  |   | 2.43 | % |   | 149,404 |  |   | 2.18 | % |
| Common securities - Capital Trust IX                                                     | 4,640 |  |   | 2.43 | % |   | 4,640 |  |   | 2.18 | % |
|      Total Parent Company borrowings and other debt obligations | $ | 4,795,939 |  |   | 3.57 | % |   | $ | 3,294,976 |  |   | 3.91 | % |

----

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                           | March 31, 2016 |   | December 31, 2015 |
|                                                                           | Balance |   | EffectiveRate |   | Balance |   | EffectiveRate |
|                                                                           | (dollars in thousands) |
| 2.00% senior notes, due January 2018                                           | $ | 746,818 |  |   | 2.24 | % |   | $ | 746,381 |  |   | 2.24 | % |
| Senior notes, due January 2018(1)                                              | 249,486 |  |   | 1.72 | % |   | 249,415 |  |   | 1.31 | % |
| Overnight federal funds purchased                                              | 100,000 |  |   | 0.35 | % |   | — |  |   | — | % |
| 8.750% subordinated debentures, due May 2018                              | 498,346 |  |   | 8.92 | % |   | 498,175 |  |   | 8.92 | % |
| Subordinated term loan, due February 2019                                      | 124,979 |  |   | 6.53 | % |   | 130,899 |  |   | 6.15 | % |
| FHLB advances, maturing through July 2019                            | 12,835,000 |  |   | 1.24 | % |   | 13,885,000 |  |   | 1.40 | % |
| REIT preferred, due May 2020                                                   | 155,310 |  |   | 13.48 | % |   | 154,930 |  |   | 13.66 | % |
| Subordinated term loan, due August 2022                                        | 30,445 |  |   | 8.28 | % |   | 30,344 |  |   | 7.89 | % |
|      Total Bank borrowings and other debt obligations | $ | 14,740,384 |  |   | 1.74 | % |   | $ | 15,695,144 |  |   | 1.85 | % |

|                                                                    |
|--------------------------------------------------------------------|
|                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                               | March 31, 2016 |
|                                                               | Balance |   | EffectiveRate |   | Assets Pledged |   | Restricted Cash Pledged |
|                                                               | (dollars in thousands) |
| Warehouse line, maturing on various dates(1)                       | $ | 898,785 |  |   | 1.65 | % |   | $ | 1,268,593 |  |   | $ | 33,876 |  |
| Warehouse line, due June 2016                                      | 328,484 |  |   | 1.53 | % |   | 470,935 |  |   | — |  |
| Warehouse line, due November 2016(2)                               | 175,000 |  |   | 1.99 | % |   | — |  |   | — |  |
| Warehouse line, due November 2016(2)                               | 250,000 |  |   | 1.99 | % |   | — |  |   | 2,502 |  |
| Warehouse line, due July 2017(3)                                   | 1,136,620 |  |   | 1.26 | % |   | 1,327,405 |  |   | 39,890 |  |
| Warehouse line, due July 2017(4)                                   | 2,151,543 |  |   | 1.37 | % |   | 3,301,792 |  |   | 59,169 |  |
| Warehouse line, due December 2017                                  | 1,342,277 |  |   | 1.59 | % |   | 1,903,553 |  |   | 45,797 |  |
| Warehouse line, due January 2018                                   | 73,000 |  |   | 3.13 | % |   | 102,309 |  |   | — |  |
| Warehouse line, due March 2018(5)                                  | 886,199 |  |   | 1.26 | % |   | 1,287,618 |  |   | 28,733 |  |
| Repurchase facility, due December 2016(6)                          | 1,147,361 |  |   | 2.51 | % |   | — |  |   | 44,767 |  |
| Line of credit with related party, due December 2016(7)            | 500,000 |  |   | 2.74 | % |   | — |  |   | — |  |
| Line of credit with related party, due December 2016(7)            | 1,000,000 |  |   | 2.70 | % |   | — |  |   | — |  |
| Line of credit with related party, due December 2018(7)            | 975,000 |  |   | 2.94 | % |   | — |  |   | — |  |
|      Total SC revolving credit facilities | $ | 10,864,269 |  |   | 1.89 | % |   | $ | 9,662,205 |  |   | $ | 254,734 |  |

----

|                                                                    |
|--------------------------------------------------------------------|
|                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                               | December 31, 2015 |
|                                                               | Balance |   | EffectiveRate |   | Assets Pledged |   | Restricted Cash Pledged |
|                                                               | (dollars in thousands) |
| Warehouse line, maturing on various dates(1)                       | $ | 808,135 |  |   | 1.29 | % |   | $ | 1,137,257 |  |   | $ | 24,942 |  |
| Warehouse line, due June 2016                                      | 378,301 |  |   | 1.48 | % |   | 535,737 |  |   | — |  |
| Warehouse line, due November 2016(2)                               | 175,000 |  |   | 1.90 | % |   | — |  |   | — |  |
| Warehouse line, due November 2016(2)                               | 250,000 |  |   | 1.90 | % |   | — |  |   | 2,501 |  |
| Warehouse line, due July 2017(3)                                   | 682,720 |  |   | 1.35 | % |   | 809,185 |  |   | 20,852 |  |
| Warehouse line, due July 2017(4)                                   | 2,247,443 |  |   | 1.41 | % |   | 3,412,321 |  |   | 48,589 |  |
| Warehouse line, due September 2017                                 | 565,399 |  |   | 1.20 | % |   | 824,327 |  |   | 15,759 |  |
| Warehouse line, due December 2017 (5)                         | 944,877 |  |   | 1.56 | % |   | 1,345,051 |  |   | 32,038 |  |
| Repurchase facility, due December 2016(6)                          | 850,904 |  |   | 2.07 | % |   | — |  |   | 34,166 |  |
| Line of credit with related party, due December 2016(7)            | 500,000 |  |   | 2.65 | % |   | — |  |   | — |  |
| Line of credit with related party, due December 2016(7)            | 1,000,000 |  |   | 2.61 | % |   | — |  |   | — |  |
| Line of credit with related party, due December 2018(7)            | 800,000 |  |   | 2.84 | % |   | — |  |   | — |  |
|      Total SC revolving credit facilities | $ | 9,202,779 |  |   | 1.81 | % |   | $ | 8,063,878 |  |   | $ | 178,847 |  |

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | March 31, 2016 |
|                                                                 | Balance |   | Initial Note Amounts Issued |   | Initial Weighted Average Interest Rate Range |   | Collateral |   | Restricted Cash |
|                                                                 | (dollars in thousands) |
| SC public securitizations, maturing on various dates(1)              | $ | 12,565,678 |  |   | $ | 26,563,082 |  |   | 0.89% - 2.44% |   | $ | 16,452,180 |  |   | $ | 1,396,275 |  |
| SC privately issued amortizing notes, maturing on various dates(1)   | 7,790,231 |  |   | 11,535,991 |  |   | 0.88% - 2.81% |   | 11,029,245 |  |   | 498,836 |  |
|      Total SC secured structured financings | $ | 20,355,909 |  |   | $ | 38,099,073 |  |   | 0.88% - 2.81% |   | $ | 27,481,425 |  |   | $ | 1,895,111 |  |

----

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | December 31, 2015 |
|                                                                 | Balance |   | Initial Note Amounts Issued |   | Initial Weighted Average Interest Rate Range |   | Collateral |   | Restricted Cash |
|                                                                 | (dollars in thousands) |
| SC public securitizations, maturing on various dates(1)              | $ | 12,679,987 |  |   | $ | 24,923,292 |  |   | 0.89% - 2.29% |   | $ | 16,256,067 |  |   | $ | 1,242,857 |  |
| SC privately issued amortizing notes, maturing on various dates(1)   | 8,213,217 |  |   | 11,729,171 |  |   | 0.88% - 2.81% |   | 11,495,352 |  |   | 457,840 |  |
|      Total SC secured structured financings | $ | 20,893,204 |  |   | $ | 36,652,463 |  |   | 0.88% - 2.81% |   | $ | 27,751,419 |  |   | $ | 1,700,697 |  |

|        |
|--------|
|        |  |
|   |   |

----

----

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                   | NotionalAmount |   | Asset |   | Liability |   | Weighted Average ReceiveRate |   | Weighted Average PayRate |   | Weighted Average  Life(Years) |
|                                                   | (dollars in thousands) |
| March 31, 2016                                    |   |   |   |   |   |   |   |   |   |   |   |
| Fair value hedges:                                     |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate swaps                                    | $ | 351,000 |  |   | $ | 804 |  |   | $ | 7,247 |  |   | 1.38 | % |   | 2.22 | % |   | 3.22 |
| Cash flow hedges:                                      |   |   |   |   |   |   |   |   |   |   |   |
| Pay fixed — receive floating interest rate swaps | 11,926,299 |  |   | 189 |  |   | 94,576 |  |   | 0.46 | % |   | 1.12 | % |   | 2.92 |
| Total                                                  | $ | 12,277,299 |  |   | $ | 993 |  |   | $ | 101,823 |  |   | 0.49 | % |   | 1.15 | % |   | 2.93 |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2015                                 |   |   |   |   |   |   |   |   |   |   |   |
| Fair Value hedges:                                     |   |   |   |   |   |   |   |   |   |   |   |
| Cross-currency swaps                                   | $ | 16,390 |  |   | $ | 3,695 |  |   | $ | 92 |  |   | 4.76 | % |   | 4.75 | % |   | 0.11 |
|     Interest rate swaps            | 318,000 |  |   | 47 |  |   | 2,006 |  |   | 1.07 | % |   | 2.31 | % |   | 3.50 |
| Cash flow hedges:                                      |   |   |   |   |   |   |   |   |   |   |   |
| Pay fixed — receive floating interest rate swaps | 11,030,431 |  |   | 7,295 |  |   | 23,047 |  |   | 0.32 | % |   | 1.13 | % |   | 3.00 |
| Total                                                  | $ | 11,364,821 |  |   | $ | 11,037 |  |   | $ | 25,145 |  |   | 0.35 | % |   | 1.17 | % |   | 3.01 |

----

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                     | Notional |   | Asset derivativesFair value |   | Liability derivativesFair value |
|                                     | March 31, 2016 |   | December 31, 2015 |   | March 31, 2016 |   | December 31, 2015 |   | March 31, 2016 |   | December 31, 2015 |
|                                     | (in thousands) |
| Mortgage banking derivatives:            |   |   |   |   |   |   |   |   |   |   |   |
| Forward commitments to sell loans        | $ | 506,374 |  |   | $ | 396,518 |  |   | $ | — |  |   | $ | 542 |  |   | $ | 3,371 |  |   | $ | — |  |
| Interest rate lock commitments           | 349,468 |  |   | 187,930 |  |   | 6,992 |  |   | 2,540 |  |   | — |  |   | — |  |
| Mortgage servicing                       | 435,000 |  |   | 435,000 |  |   | 14,916 |  |   | 679 |  |   | 2,669 |  |   | 3,502 |  |
| Total mortgage banking risk management   | 1,290,842 |  |   | 1,019,448 |  |   | 21,908 |  |   | 3,761 |  |   | 6,040 |  |   | 3,502 |  |
|                                     |   |   |   |   |   |   |   |   |   |   |   |
| Customer related derivatives:            |   |   |   |   |   |   |   |   |   |   |   |
| Swaps receive fixed                      | 9,067,978 |  |   | 9,060,134 |  |   | 351,336 |  |   | 205,397 |  |   | 114 |  |   | 6,023 |  |
| Swaps pay fixed                          | 9,291,483 |  |   | 9,273,627 |  |   | 316 |  |   | 16,183 |  |   | 311,595 |  |   | 177,114 |  |
| Other                                    | 2,852,757 |  |   | 3,035,085 |  |   | 50,076 |  |   | 53,418 |  |   | 49,148 |  |   | 52,502 |  |
| Total customer related derivatives       | 21,212,218 |  |   | 21,368,846 |  |   | 401,728 |  |   | 274,998 |  |   | 360,857 |  |   | 235,639 |  |
|                                     |   |   |   |   |   |   |   |   |   |   |   |
| Other derivative activities:             |   |   |   |   |   |   |   |   |   |   |   |
| Foreign exchange contracts               | 2,619,226 |  |   | 2,513,305 |  |   | 33,604 |  |   | 30,262 |  |   | 33,263 |  |   | 30,144 |  |
| Interest rate swap agreements            | 1,984,000 |  |   | 2,399,000 |  |   | — |  |   | 1,176 |  |   | 6,580 |  |   | 2,481 |  |
| Interest rate cap agreements             | 9,159,361 |  |   | 10,013,912 |  |   | 13,716 |  |   | 32,950 |  |   | — |  |   | — |  |
| Options for interest rate cap agreements | 9,159,361 |  |   | 10,013,912 |  |   | — |  |   | — |  |   | 13,785 |  |   | 32,977 |  |
| Total return settlement                  | 1,404,726 |  |   | 1,404,726 |  |   | — |  |   | — |  |   | 53,793 |  |   | 53,432 |  |
| Other                                    | 1,009,210 |  |   | 899,394 |  |   | 16,565 |  |   | 11,146 |  |   | 19,423 |  |   | 14,553 |  |
| Total                                    | $ | 47,838,944 |  |   | $ | 49,632,543 |  |   | $ | 487,521 |  |   | $ | 354,293 |  |   | $ | 493,741 |  |   | $ | 372,728 |  |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |
|                                          |   |   |   | Three-Month PeriodEnded March 31, |
| Derivative Activity(1)                        |   | Line Item |   | 2016 |   | 2015 |
|                                          |   |   |   | (in thousands) |
| Fair value hedges:                            |   |   |   |   |   |   |
| Cross-currency swaps                          |   | Miscellaneous income |   | $ | 174 |  |   | $ | (36 | ) |
| Interest rate swaps                           |   | Miscellaneous income |   | (4,484 | ) |   | (2,993 | ) |
| Cash flow hedges:                             |   |   |   |   |  |   |   |  |
| Pay fixed-receive variable interestrate swaps |   | Net interest income |   | (2,663 | ) |   | (4,451 | ) |
| Other derivative activities:                  |   |   |   |   |  |   |   |  |
| Forward commitments to sell loans             |   | Mortgage banking income |   | (3,912 | ) |   | (187 | ) |
| Interest rate lock commitments                |   | Mortgage banking income |   | 4,452 |  |   | 3,937 |  |
| Mortgage servicing                            |   | Mortgage banking income |   | 15,070 |  |   | (1,219 | ) |
| Customer related derivatives                  |   | Miscellaneous income |   | 1,510 |  |   | 418 |  |
| Foreign exchange                              |   | Miscellaneous income |   | 223 |  |   | (874 | ) |
| SC non-hedging derivatives                    |   | Miscellaneous income |   | (5,499 | ) |   | (2,397 | ) |
|                                          | Net interest income |   | 15,139 |  |   | 18,044 |  |
|                                          | Other administrative expenses |   | (1,316 | ) |   | (11,955 | ) |
| Other                                         |   | Miscellaneous income |   | (1,131 | ) |   | (1,445 | ) |

----

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                    |   | Offsetting of Financial Assets |
|                                                                                    |   |   |   |   |   |   |   | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet |
|                                                                                    |   | Gross Amounts of Recognized Assets |   | Gross Amounts Offset in the Condensed Consolidated Balance Sheet |   | Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheet |   | Financial Instruments |   | Cash Collateral Received |   | Net Amount |
|                                                                                    |   | (in thousands) |
| March 31, 2016                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Fair value hedges                                                                       |   | $ | 804 |  |   | $ | — |  |   | $ | 804 |  |   | $ | — |  |   | $ | — |  |   | $ | 804 |  |
| Cash flow hedges                                                                        |   | 189 |  |   | — |  |   | 189 |  |   | — |  |   | — |  |   | 189 |  |
| Other derivative activities(1)                                                          |   | 480,529 |  |   | 6,781 |  |   | 473,748 |  |   | 8,024 |  |   | 2,786 |  |   | 462,938 |  |
| Total derivatives subject to a master netting arrangement or similar arrangement        |   | 481,522 |  |   | 6,781 |  |   | 474,741 |  |   | 8,024 |  |   | 2,786 |  |   | 463,931 |  |
| Total derivatives not subject to a master netting arrangement or similar arrangement(2) |   | 6,992 |  |   | — |  |   | 6,992 |  |   | — |  |   | — |  |   | 6,992 |  |
| Total Derivative Assets                                                                 |   | $ | 488,514 |  |   | $ | 6,781 |  |   | $ | 481,733 |  |   | $ | 8,024 |  |   | $ | 2,786 |  |   | $ | 470,923 |  |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Financial Assets                                                                  |   | $ | 488,514 |  |   | $ | 6,781 |  |   | $ | 481,733 |  |   | $ | 8,024 |  |   | $ | 2,786 |  |   | $ | 470,923 |  |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2015                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Fair value hedges                                                                       |   | $ | 3,742 |  |   | $ | — |  |   | $ | 3,742 |  |   | $ | — |  |   | $ | — |  |   | $ | 3,742 |  |
| Cash flow hedges                                                                        |   | 7,295 |  |   | — |  |   | 7,295 |  |   | — |  |   | — |  |   | 7,295 |  |
| Other derivative activities(1)                                                          |   | 351,761 |  |   | 10,161 |  |   | 341,600 |  |   | 8,008 |  |   | 16,424 |  |   | 317,168 |  |
| Total derivatives subject to a master netting arrangement or similar arrangement        |   | 362,798 |  |   | 10,161 |  |   | 352,637 |  |   | 8,008 |  |   | 16,424 |  |   | 328,205 |  |
| Total derivatives not subject to a master netting arrangement or similar arrangement(2) |   | 2,532 |  |   | — |  |   | 2,532 |  |   | — |  |   | — |  |   | 2,532 |  |
| Total Derivative Assets                                                                 |   | $ | 365,330 |  |   | $ | 10,161 |  |   | $ | 355,169 |  |   | $ | 8,008 |  |   | $ | 16,424 |  |   | $ | 330,737 |  |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Financial Assets                                                                  |   | $ | 365,330 |  |   | $ | 10,161 |  |   | $ | 355,169 |  |   | $ | 8,008 |  |   | $ | 16,424 |  |   | $ | 330,737 |  |

|     |                                                 |
|-----|-------------------------------------------------|
| (1) | Includes customer-related and other derivatives |

|     |                                       |
|-----|---------------------------------------|
| (2) | Includes mortgage banking derivatives |

----

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                    |   | Offsetting of Financial Liabilities |
|                                                                                    |   |   |   |   |   |   |   | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet |
|                                                                                    |   | Gross Amounts of Recognized Liabilities |   | Gross Amounts Offset in the Condensed Consolidated Balance Sheet |   | Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheet |   | Financial Instruments |   | Cash Collateral Pledged |   | Net Amount |
|                                                                                    |   | (in thousands) |
| March 31, 2016                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Fair value hedges                                                                       |   | $ | 7,247 |  |   | $ | — |  |   | $ | 7,247 |  |   | $ | 111 |  |   | $ | 11,732 |  |   | $ | (4,596 | ) |
| Cash flow hedges                                                                        |   | 94,576 |  |   | — |  |   | 94,576 |  |   | — |  |   | 104,392 |  |   | (9,816 | ) |
| Other derivative activities(1)                                                          |   | 439,268 |  |   | 96,925 |  |   | 342,343 |  |   | 3,054 |  |   | 271,819 |  |   | 67,470 |  |
| Total derivatives subject to a master netting arrangement or similar arrangement        |   | 541,091 |  |   | 96,925 |  |   | 444,166 |  |   | 3,165 |  |   | 387,943 |  |   | 53,058 |  |
| Total derivatives not subject to a master netting arrangement or similar arrangement(2) |   | 54,473 |  |   | — |  |   | 54,473 |  |   | — |  |   | — |  |   | 54,473 |  |
| Total Derivative Liabilities                                                            |   | $ | 595,564 |  |   | $ | 96,925 |  |   | $ | 498,639 |  |   | $ | 3,165 |  |   | $ | 387,943 |  |   | $ | 107,531 |  |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Financial Liabilities                                                             |   | $ | 595,564 |  |   | $ | 96,925 |  |   | $ | 498,639 |  |   | $ | 3,165 |  |   | $ | 387,943 |  |   | $ | 107,531 |  |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2015                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Fair value hedges                                                                       |   | $ | 2,098 |  |   | $ | — |  |   | $ | 2,098 |  |   | $ | 87 |  |   | $ | 10,602 |  |   | $ | (8,591 | ) |
| Cash flow hedges                                                                        |   | 23,047 |  |   |  |   | 23,047 |  |   | — |  |   | 39,388 |  |   | (16,341 | ) |
| Other derivative activities(1)                                                          |   | 319,296 |  |   | 77,734 |  |   | 241,562 |  |   | 4,265 |  |   | 208,305 |  |   | 28,992 |  |
| Total derivatives subject to a master netting arrangement or similar arrangement        |   | 344,441 |  |   | 77,734 |  |   | 266,707 |  |   | 4,352 |  |   | 258,295 |  |   | 4,060 |  |
| Total derivatives not subject to a master netting arrangement or similar arrangement(2) |   | 53,432 |  |   | — |  |   | 53,432 |  |   | — |  |   | — |  |   | 53,432 |  |
| Total Derivative Liabilities                                                            |   | $ | 397,873 |  |   | $ | 77,734 |  |   | $ | 320,139 |  |   | $ | 4,352 |  |   | $ | 258,295 |  |   | $ | 57,492 |  |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Financial Liabilities                                                             |   | $ | 397,873 |  |   | $ | 77,734 |  |   | $ | 320,139 |  |   | $ | 4,352 |  |   | $ | 258,295 |  |   | $ | 57,492 |  |

|     |                                                 |
|-----|-------------------------------------------------|
| (1) | Includes customer-related and other derivatives |

|     |                                       |
|-----|---------------------------------------|
| (2) | Includes mortgage banking derivatives |

----

----

|                                                                                                            |
|------------------------------------------------------------------------------------------------------------|
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                            | Total OtherComprehensive Income/(Loss) |  | Total AccumulatedOther Comprehensive Income/(Loss) |
|                                                                                                            | Three-Month Period Ended March 31, 2016 |  | December 31, 2015 |  |  |  | March 31, 2016 |
|                                                                                                            | PretaxActivity |  | TaxEffect |  | Net Activity |  | BeginningBalance |  | NetActivity |  | EndingBalance |
|                                                                                                       | As Restated |   |   |   |   |   | As Restated |
|                                                                                                            | (in thousands) |
| Change in accumulated (losses)/gains on cash flow hedge derivative financial instruments                   | $ | (64,195 | ) |  | $ | 30,260 |  |  | $ | (33,935 | ) |  |   |  |   |  |   |
| Reclassification adjustment for net gains/(losses) on cash flow hedge derivative financial instruments (1) | 2,663 |  |  | (1,255 | ) |  | 1,408 |  |  |   |  |   |  |   |
| Net unrealized (losses)/gains on cash flow hedge derivative financial instruments                          | (61,532 | ) |  | 29,005 |  |  | (32,527 | ) |  | $ | (16,582 | ) |  | $ | (32,527 | ) |  | $ | (49,109 | ) |
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Change in unrealized gains/(losses) on investment securities available-for-sale                            | 265,175 |  |  | (104,213 | ) |  | 160,962 |  |  |   |  |   |  |   |
| Reclassification adjustment for net(gains)/losses included in net income on non-OTTI securities (2)        | (26,431 | ) |  | 10,387 |  |  | (16,044 | ) |  |  |  |  |  |  |
| Reclassification adjustment for net losses/(gains) included in net income on OTTI securities (3)           | 10 |  |  | (4 | ) |  | 6 |  |  |  |  |  |  |  |
| Reclassification adjustment for net (gains)/losses included in net income                                  | (26,421 | ) |  | 10,383 |  |  | (16,038 | ) |  |   |  |   |  |   |
| Net unrealized gains/(losses) on investment securities available-for-sale                                  | 238,754 |  |  | (93,830 | ) |  | 144,924 |  |  | (96,026 | ) |  | 144,924 |  |  | 48,898 |  |
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pension and post-retirement actuarial gain/(loss) (4)                                                      | 929 |  |  | (364 | ) |  | 565 |  |  | (27,033 | ) |  | 565 |  |  | (26,468 | ) |
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| As of March 31, 2016                                                                                       | $ | 178,151 |  |  | $ | (65,189 | ) |  | $ | 112,962 |  |  | $ | (139,641 | ) |  | $ | 112,962 |  |  | $ | (26,679 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                            |
|------------------------------------------------------------------------------------------------------------|
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                       | Total OtherComprehensive Income/(Loss) |   | Total AccumulatedOther Comprehensive Income/(Loss) |
|                                                                                                       | Three-Month Period Ended March 31, 2015 |   | December 31, 2014 |   |   |   | March 31, 2015 |
|                                                                                                       | PretaxActivity |   | TaxEffect |   | Net Activity |   | BeginningBalance |   | NetActivity |   | EndingBalance |
|                                                                                                       | (in thousands) |
| Change in accumulated (losses)/gains on cash flow hedge derivative financial instruments                   | $ | (29,009 | ) |   | $ | 11,154 |  |   | $ | (17,855 | ) |   |   |   |   |   |   |
| Reclassification adjustment for net gains/(losses) on cash flow hedge derivative financial instruments (1) | 4,451 |  |   | (1,711 | ) |   | 2,740 |  |   |   |   |   |   |   |
| Net unrealized (losses)/gains on cash flow hedge derivative financial instruments                          | (24,558 | ) |   | 9,443 |  |   | (15,115 | ) |   | $ | (14,260 | ) |   | $ | (15,115 | ) |   | $ | (29,375 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Change in unrealized gains/(losses) on investment securities available-for-sale                            | 117,781 |  |   | (45,964 | ) |   | 71,817 |  |   |   |   |   |   |   |
| Reclassification adjustment for net (gains)/losses included in net income on non-OTTI securities(2)        | (9,557 | ) |   | 3,730 |  |   | (5,827 | ) |   |   |   |   |   |   |
| Net unrealized gains/(losses) on investment securities available-for-sale                                  | 108,224 |  |   | (42,234 | ) |   | 65,990 |  |   | (52,515 | ) |   | 65,990 |  |   | 13,475 |  |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Pension and post-retirement actuarial gain/(loss)(3)                                                       | 1,018 |  |   | (403 | ) |   | 615 |  |   | (29,635 | ) |   | 615 |  |   | (29,020 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| As of March 31, 2015                                                                                       | $ | 84,684 |  |   | $ | (33,194 | ) |   | $ | 51,490 |  |   | $ | (96,410 | ) |   | $ | 51,490 |  |   | $ | (44,920 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |
| Other Commitments                |   | March 31, 2016 |   | December 31, 2015 |
|                             |   | (in thousands) |
| Commitments to extend credit (1) |   | $ | 28,277,773 |  |   | $ | 31,379,039 |  |
| Letters of credit                |   | 1,846,310 |  |   | 1,832,884 |  |
| Recourse exposure on sold loans  |   | 73,286 |  |   | 70,394 |  |
| Commitments to sell loans        |   | 53,237 |  |   | 56,982 |  |
| Total commitments                |   | $ | 30,250,606 |  |   | $ | 33,339,299 |  |

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |
|                    |   | March 31, 2016 |   | December 31, 2015 |
|                    |   | (in thousands) |
| 1 year or less          |   | $ | 5,746,695 |  |   | $ | 6,451,239 |  |
| Over 1 year to 3 years  |   | 4,981,342 |  |   | 5,250,512 |  |
| Over 3 years to 5 years |   | 9,920,170 |  |   | 12,136,625 |  |
| Over 5 years (1)        |   | 7,629,566 |  |   | 7,540,663 |  |
| Total                   |   | $ | 28,277,773 |  |   | $ | 31,379,039 |  |

----

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |
|                    |   | March 31, 2016 |   | December 31, 2015 |
|                    |   | (in thousands) |
| 1 year or less          |   | $ | 1,215,499 |  |   | $ | 1,230,424 |  |
| Over 1 year to 3 years  |   | 522,750 |  |   | 308,634 |  |
| Over 3 years to 5 years |   | 52,816 |  |   | 268,946 |  |
| Over 5 years            |   | 55,245 |  |   | 24,880 |  |
| Total                   |   | $ | 1,846,310 |  |   | $ | 1,832,884 |  |

----

----

----

----

----

----

|        |
|--------|
|        |  |  |  |  |  |  |
|   |   |   |   |   |   |   |

----

----

----

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | Quoted Prices in ActiveMarkets for IdenticalAssets (Level 1) |   | Significant OtherObservable Inputs(Level 2) |   | SignificantUnobservable Inputs(Level 3) |   | Balance at March 31, 2016 |
|                                              | (in thousands) |
| Financial assets:                                 |   |   |   |   |   |   |   |
| U.S. Treasury securities                          | $ | — |  |   | $ | 349,742 |  |   | $ | — |  |   | $ | 349,742 |  |
| Corporate debt                                    | — |  |   | 1,429,590 |  |   | — |  |   | 1,429,590 |  |
| Asset-backed securities                           | — |  |   | 406,156 |  |   | 1,640,423 |  |   | 2,046,579 |  |
| State and municipal securities                    | — |  |   | 21,627 |  |   | — |  |   | 21,627 |  |
| Mortgage backed securities                        | — |  |   | 16,674,891 |  |   | — |  |   | 16,674,891 |  |
| Total investment securities available-for-sale(1) | — |  |   | 18,882,006 |  |   | 1,640,423 |  |   | 20,522,429 |  |
| Retail installment contracts held-for-investment  | — |  |   | — |  |   | 285,811 |  |   | 285,811 |  |
| Loans held-for-sale(2)                            | — |  |   | 219,151 |  |   | — |  |   | 219,151 |  |
| Mortgage servicing rights                         | — |  |   | — |  |   | 130,742 |  |   | 130,742 |  |
| Derivatives:                                      |   |   |   |   |   |   |   |
| Fair value                                        | — |  |   | 804 |  |   | — |  |   | 804 |  |
| Cash flow                                         | — |  |   | 189 |  |   | — |  |   | 189 |  |
| Mortgage banking interest rate lock commitments   | — |  |   | — |  |   | 6,992 |  |   | 6,992 |  |
| Customer related                                  | — |  |   | 401,728 |  |   | — |  |   | 401,728 |  |
| Foreign exchange                                  | — |  |   | 33,604 |  |   | — |  |   | 33,604 |  |
| Mortgage servicing                                | — |  |   | 14,916 |  |   | — |  |   | 14,916 |  |
| Interest rate cap agreements                      | — |  |   | 13,716 |  |   | — |  |   | 13,716 |  |
| Other                                             | — |  |   | 16,557 |  |   | 8 |  |   | 16,565 |  |
| Total financial assets                            | $ | — |  |   | $ | 19,582,671 |  |   | $ | 2,063,976 |  |   | $ | 21,646,647 |  |
| Financial liabilities:                            |   |   |   |   |   |   |   |
| Derivatives:                                      |   |   |   |   |   |   |   |
| Fair value                                        | $ | — |  |   | $ | 7,247 |  |   | $ | — |  |   | $ | 7,247 |  |
| Cash flow                                         | — |  |   | 94,576 |  |   | — |  |   | 94,576 |  |
| Mortgage banking forward sell commitments         | — |  |   | 3,371 |  |   | — |  |   | 3,371 |  |
| Customer related                                  | — |  |   | 360,857 |  |   | — |  |   | 360,857 |  |
| Total return swap                                 | — |  |   | — |  |   | 282 |  |   | 282 |  |
| Foreign exchange                                  | — |  |   | 33,263 |  |   | — |  |   | 33,263 |  |
| Mortgage servicing                                | — |  |   | 2,669 |  |   | — |  |   | 2,669 |  |
| Interest rate swaps                               | — |  |   | 6,580 |  |   | — |  |   | 6,580 |  |
| Option for interest rate cap                      | — |  |   | 13,785 |  |   | — |  |   | 13,785 |  |
| Total return settlement                           | — |  |   | — |  |   | 53,793 |  |   | 53,793 |  |
| Other                                             | — |  |   | 18,993 |  |   | 148 |  |   | 19,141 |  |
| Total financial liabilities                       | $ | — |  |   | $ | 541,341 |  |   | $ | 54,223 |  |   | $ | 595,564 |  |

----

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | Quoted Prices in ActiveMarkets for IdenticalAssets (Level 1) |   | Significant OtherObservable Inputs(Level 2) |   | SignificantUnobservable Inputs(Level 3) |   | Balance atDecember 31, 2015 |
|                                              | (in thousands) |
| Financial assets:                                 |   |   |   |   |   |   |   |
| U.S. Treasury securities                          | $ | — |  |   | $ | 3,188,388 |  |   | $ | — |  |   | $ | 3,188,388 |  |
| Corporate debt                                    | — |  |   | 1,475,574 |  |   | — |  |   | 1,475,574 |  |
| Asset-backed securities                           | — |  |   | 409,270 |  |   | 1,360,240 |  |   | 1,769,510 |  |
| State and municipal securities                    | — |  |   | 767,880 |  |   | — |  |   | 767,880 |  |
| Mortgage backed securities                        | — |  |   | 13,639,656 |  |   | — |  |   | 13,639,656 |  |
| Total investment securities available-for-sale(1) | — |  |   | 19,480,768 |  |   | 1,360,240 |  |   | 20,841,008 |  |
| Retail installment contracts held-for-investment  | — |  |   | — |  |   | 328,655 |  |   | 328,655 |  |
| Loans held-for-sale(2)                            | — |  |   | 236,760 |  |   | — |  |   | 236,760 |  |
| Mortgage servicing rights                         | — |  |   | — |  |   | 147,233 |  |   | 147,233 |  |
| Derivatives:                                      |   |   |   |   |   |   |   |
| Fair value                                        | — |  |   | 3,742 |  |   | — |  |   | 3,742 |  |
| Cash flow                                         | — |  |   | 7,295 |  |   | — |  |   | 7,295 |  |
| Mortgage banking interest rate lock commitments   | — |  |   | — |  |   | 2,540 |  |   | 2,540 |  |
| Mortgage banking forward sell commitments         | — |  |   | 542 |  |   | — |  |   | 542 |  |
| Customer related                                  | — |  |   | 274,998 |  |   | — |  |   | 274,998 |  |
| Foreign exchange                                  | — |  |   | 30,262 |  |   | — |  |   | 30,262 |  |
| Mortgage servicing                                | — |  |   | 679 |  |   | — |  |   | 679 |  |
| Interest rate swap agreements                     | — |  |   | 1,176 |  |   | — |  |   | 1,176 |  |
| Interest rate cap agreements                      | — |  |   | 32,950 |  |   | — |  |   | 32,950 |  |
| Other                                             | — |  |   | 11,136 |  |   | 10 |  |   | 11,146 |  |
| Total financial assets                            | $ | — |  |   | $ | 20,080,308 |  |   | $ | 1,838,678 |  |   | $ | 21,918,986 |  |
| Financial liabilities:                            |   |   |   |   |   |   |   |
| Derivatives:                                      |   |   |   |   |   |   |   |
| Fair value                                        | $ | — |  |   | $ | 2,098 |  |   | $ | — |  |   | $ | 2,098 |  |
| Cash flow                                         | — |  |   | 23,047 |  |   | — |  |   | 23,047 |  |
| Customer related                                  | — |  |   | 235,639 |  |   | — |  |   | 235,639 |  |
| Total return swap                                 | — |  |   | — |  |   | 282 |  |   | 282 |  |
| Foreign exchange                                  | — |  |   | 30,144 |  |   | — |  |   | 30,144 |  |
| Mortgage servicing                                | — |  |   | 3,502 |  |   | — |  |   | 3,502 |  |
| Interest rate swaps                               | — |  |   | 2,481 |  |   | — |  |   | 2,481 |  |
| Option for interest rate cap                      | — |  |   | 32,977 |  |   | — |  |   | 32,977 |  |
| Total return settlement                           | — |  |   | — |  |   | 53,432 |  |   | 53,432 |  |
| Other                                             | — |  |   | 14,149 |  |   | 122 |  |   | 14,271 |  |
| Total financial liabilities                       | $ | — |  |   | $ | 344,037 |  |   | $ | 53,836 |  |   | $ | 397,873 |  |

----

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                               | Quoted Prices in Active Markets for Identical Assets (Level 1) |   | Significant Other Observable Inputs (Level 2) |   | Significant Unobservable Inputs (Level 3) |   | Fair Value |
|                               | (in thousands) |
| March 31, 2016                |   |   |   |   |   |   |   |
| Impaired loans held-for-investment | $ | — |  |   | $ | 279,069 |  |   | $ | 41,118 |  |   | $ | 320,187 |  |
| Foreclosed assets                  | — |  |   | 15,242 |  |   | — |  |   | 15,242 |  |
| Vehicle inventory                  | — |  |   | 251,926 |  |   | — |  |   | 251,926 |  |
| Loans held for sale                | — |  |   | — |  |   | 978,819 |  |   | 978,819 |  |
|                               |   |   |   |   |   |   |   |
| December 31, 2015             |   |   |   |   |   |   |   |
| Impaired loans held-for-investment | $ | — |  |   | $ | 122,792 |  |   | $ | 326 |  |   | $ | 123,118 |  |
| Foreclosed assets                  | — |  |   | 27,574 |  |   | — |  |   | 27,574 |  |
| Vehicle inventory                  | — |  |   | 204,120 |  |   | — |  |   | 204,120 |  |
| Loans held for sale                | — |  |   | — |  |   | 2,040,813 |  |   | 2,040,813 |  |
| Goodwill                           | — |  |   | — |  |   | 1,019,960 |  |   | 1,019,960 |  |
| Indefinite lived intangibles       | — |  |   | — |  |   | 18,000 |  |   | 18,000 |  |

----

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |
|                               | Statement of OperationsLocation |   | Three-Month PeriodEnded March 31, |
|                               |   |   | 2016 |   | 2015 |
|                               |   |   | (in thousands) |
| Impaired loans held-for-investment | Provision for credit losses |   | $ | (88,311 | ) |   | $ | (570 | ) |
| Foreclosed assets                  | Miscellaneous income(1) |   | (1,812 | ) |   | (611 | ) |
| Loans held for sale                | Miscellaneous income(1) |   | (64,213 | ) |   | — |  |
|                               |   |   | $ | (154,336 | ) |   | $ | (1,181 | ) |

|                                                                                                            |
|------------------------------------------------------------------------------------------------------------|
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Three-Month Period Ended March 31, 2016                                                                    |   |   |   |   |   |   |   |   |
|                                                                                                       | InvestmentsAvailable-for-Sale |   | Retail Installment Contracts Held for Investment |   | MSRs |   | Derivatives |   | Total |
|                                                                                                       | (in thousands) |
| Balance, December 31, 2015                                                                                 | $ | 1,360,240 |  |   | $ | 328,655 |  |   | $ | 147,233 |  |   | $ | (51,286 | ) |   | $ | 1,784,842 |  |
| Gains in other comprehensive income                                                                        | 1,585 |  |   | — |  |   | — |  |   | — |  |   | 1,585 |  |
| Gains/(losses) in earnings                                                                                 | — |  |   | 26,749 |  |   | (14,356 | ) |   | 3,010 |  |   | 15,403 |  |
| Additions/Issuances                                                                                        | 278,686 |  |   | — |  |   | 3,591 |  |   | — |  |   | 282,277 |  |
| Settlements(1)                                                                                             | (88 | ) |   | (69,593 | ) |   | (5,726 | ) |   | 1,053 |  |   | (74,354 | ) |
| Balance, March 31, 2016                                                                                    | $ | 1,640,423 |  |   | $ | 285,811 |  |   | $ | 130,742 |  |   | $ | (47,223 | ) |   | $ | 2,009,753 |  |
| Changes in unrealized gains/(losses) included in earnings related to balances still held at March 31, 2016 | $ | — |  |   | $ | 26,749 |  |   | $ | (14,356 | ) |   | $ | (1,442 | ) |   | $ | 10,951 |  |
|                                                                                                       |   |   |   |   |   |   |   |   |   |

|     |                                                                         |
|-----|-------------------------------------------------------------------------|
| (1) | Settlements include charge-offs, prepayments, pay downs and maturities. |

----

|                                                                                                            |
|------------------------------------------------------------------------------------------------------------|
|                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Three-Month Period Ended March 31, 2015                                                                    |   |   |   |   |   |   |   |   |
|                                                                                                       | InvestmentsAvailable-for-Sale |   | Retail Installment Contracts Held for Investment |   | MSRs |   | Derivatives |   | Total |
|                                                                                                       | (in thousands) |
| Balance, December 31, 2014                                                                                 | $ | 1,267,643 |  |   | $ | 845,911 |  |   | $ | 145,047 |  |   | $ | (46,178 | ) |   | $ | 2,212,423 |  |
| Gains in other comprehensive income                                                                        | 4,779 |  |   | — |  |   | — |  |   | — |  |   | 4,779 |  |
| Gains/(losses) in earnings                                                                                 | — |  |   | 86,492 |  |   | (6,990 | ) |   | (8,129 | ) |   | 71,373 |  |
| Additions/Issuances                                                                                        | 253,973 |  |   | — |  |   | 3,526 |  |   | — |  |   | 257,499 |  |
| Settlements(1)                                                                                             | (11,878 | ) |   | (256,306 | ) |   | (6,131 | ) |   | 1,356 |  |   | (272,959 | ) |
| Balance, March 31, 2015                                                                                    | $ | 1,514,517 |  |   | $ | 676,097 |  |   | $ | 135,452 |  |   | $ | (52,951 | ) |   | $ | 2,273,115 |  |
| Changes in unrealized gains/(losses) included in earnings related to balances still held at March 31, 2015 | $ | — |  |   | $ | 86,492 |  |   | $ | (6,990 | ) |   | $ | (12,065 | ) |   | $ | 67,437 |  |
|                                                                                                       |   |   |   |   |   |   |   |   |   |

|     |                                                                         |
|-----|-------------------------------------------------------------------------|
| (1) | Settlements include charge-offs, prepayments, pay downs and maturities. |

----

----

|         |                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • |  A 10% and 20% increase in the CPR speed would decrease the fair value of the residential servicing asset by $5.3 million and $10.3 million, respectively, at March 31, 2016. |

|         |                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A 10% and 20% increase in the discount rate would decrease the fair value of the residential servicing asset by $4.4 million and $8.5 million, respectively, at March 31, 2016. |

----

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |
|                                             | Fair Value at March 31, 2016 |   | Valuation Technique |   | Unobservable Inputs |   | Range (Weighted Average) |
|                                             | (in thousands) |
| Financial Assets:                                |   |
| Asset-backed securities                          |   |   |   |   |   |   |   |
| Financing bonds                                  | $ | 1,589,828 |  |   | Discounted Cash Flow |   | Discount Rate (1) |   | 0.92% - 1.82% (1.21%) |  |
| Sale-leaseback securities                        | $ | 50,595 |  |   | Consensus Pricing (2) |   | Offered quotes (3) |   | 128.84 | % |
| Retail installment contracts held-for-investment | $ | 285,811 |  |   | Discounted Cash Flow |   | Prepayment rate (CPR) (4) |   | 9.50 | % |
|                                             |   |   |   |   | Discount Rate (5) |   | 9.50% - 14.50% (10.50%) |  |
|                                             |   |   |   |   | Recovery Rate (6) |   | 25.00% - 43.00% (29.50%) |  |
| Mortgage servicing rights                        | $ | 130,742 |  |   | Discounted Cash Flow |   | Prepayment rate (CPR) (7) |   | 0.20% - 29.51% (11.33%) |  |
|                                             |   |   |   |   | Discount Rate (8) |   | 9.90 | % |
| Mortgage banking interest rate lock commitments  | $ | 6,992 |  |   | Discounted Cash Flow |   | Pull through percentage (9) |   | 76.97 | % |
|                                             |   |   |   |   | MSR value (10) |   | 0.73% - 1.07% (1.01%) |  |
| Financial Liabilities:                           |   |   |   |   |   |   |   |
| Total return settlement                          | $ | 53,793 |  |   | Discounted Cash Flow |   | Discount Rate (4) |   | 8.32 | % |

----

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | March 31, 2016 |
|                                              | Carrying Value |   | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
|                                              | (in thousands) |
| Financial assets:                                 |   |   |   |   |   |   |   |   |   |
| Cash and amounts due from depository institutions | $ | 6,603,448 |  |   | $ | 6,603,448 |  |   | $ | 6,603,448 |  |   | $ | — |  |   | $ | — |  |
| Available-for-sale investment securities(1)       | 20,522,429 |  |   | 20,522,429 |  |   | — |  |   | 18,882,006 |  |   | 1,640,423 |  |
| Loans held-for-investment, net                    | 77,613,639 |  |   | 78,677,855 |  |   | — |  |   | 279,069 |  |   | 78,398,786 |  |
| Loans held-for-sale                               | 2,543,341 |  |   | 2,554,038 |  |   | — |  |   | 219,151 |  |   | 2,334,887 |  |
| Restricted cash                                   | 2,923,603 |  |   | 2,923,603 |  |   | 2,923,603 |  |   | — |  |   | — |  |
| Mortgage servicing rights                         | 130,742 |  |   | 130,742 |  |   | — |  |   | — |  |   | 130,742 |  |
| Derivatives                                       | 488,514 |  |   | 488,514 |  |   | — |  |   | 481,514 |  |   | 7,000 |  |
|                                              |   |   |   |   |   |   |   |   |   |
| Financial liabilities:                            |   |  |   |   |  |   |   |   |   |  |   |   |  |
| Deposits                                          | 57,464,250 |  |   | 57,484,122 |  |   | 47,989,406 |  |   | 9,494,716 |  |   | — |  |
| Borrowings and other debt obligations             | 50,756,501 |  |   | 51,106,200 |  |   | — |  |   | 40,241,931 |  |   | 10,864,269 |  |
| Derivatives                                       | 595,564 |  |   | 595,564 |  |   | — |  |   | 541,341 |  |   | 54,223 |  |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | December 31, 2015 |
|                                              | Carrying Value |   | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
|                                              | (in thousands) |
| Financial assets:                                 |   |   |   |   |   |   |   |   |   |
| Cash and amounts due from depository institutions | $ | 4,992,042 |  |   | $ | 4,992,042 |  |   | $ | 4,992,042 |  |   | $ | — |  |   | $ | — |  |
| Available-for-sale investment securities(1)       | 20,841,008 |  |   | 20,841,008 |  |   | — |  |   | 19,480,768 |  |   | 1,360,240 |  |
| Loans held-for-investment, net                    | 76,213,081 |  |   | 76,290,862 |  |   | — |  |   | 122,792 |  |   | 76,168,070 |  |
| Loans held-for-sale                               | 3,183,282 |  |   | 3,195,513 |  |   | — |  |   | 236,760 |  |   | 2,958,753 |  |
| Restricted cash                                   | 2,429,729 |  |   | 2,429,729 |  |   | 2,429,729 |  |   | — |  |   | — |  |
| Mortgage servicing rights                         | 147,233 |  |   | 147,233 |  |   | — |  |   | — |  |   | 147,233 |  |
| Derivatives                                       | 365,330 |  |   | 365,330 |  |   | — |  |   | 362,780 |  |   | 2,550 |  |
|                                              |   |   |   |   |   |   |   |   |   |
| Financial liabilities:                            |   |  |   |   |  |   |   |   |   |  |   |   |  |
| Deposits                                          | 56,114,232 |  |   | 56,121,954 |  |   | 47,601,229 |  |   | 8,520,725 |  |   | — |  |
| Borrowings and other debt obligations             | 49,086,103 |  |   | 49,320,778 |  |   | — |  |   | 40,117,999 |  |   | 9,202,779 |  |
| Derivatives                                       | 397,873 |  |   | 397,873 |  |   | — |  |   | 344,037 |  |   | 53,836 |  |

----

----

----

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                             |   | Fair Value |   | Aggregate Unpaid Principal Balance |   | Difference |
|                                             |   | (in thousands) |
| March 31, 2016                                   |   |   |   |   |   |   |
| Loans held-for-sale(1)                           |   | $ | 219,151 |  |   | $ | 213,250 |  |   | $ | 5,901 |  |
| Nonaccrual loans                                 |   | — |  |   | — |  |   | — |  |
| Retail installment contracts held-for-investment |   | $ | 285,811 |  |   | $ | 367,312 |  |   | $ | (81,501 | ) |
| Nonaccrual loans                                 |   | 23,832 |  |   | 38,415 |  |   | (14,583 | ) |

|         |                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The small business banking, commercial business banking, and auto leasing lines of business formerly included in the Auto Finance and Business Banking reportable segment, were combined with the Consumer and Business Banking reportable segment. |

|         |                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Real Estate and Commercial reportable segment was split into the Commercial Real Estate reportable segment and the Commercial Banking reportable segment. |

|         |                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The CEVF and dealer floor plan lines of business, formerly included in the Auto Finance & Business Banking reportable segment, were moved to the Commercial Banking business unit. |

|         |                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The internal FTP guidelines and methodologies were revised to align with Santander corporate criteria for internal management reporting. These FTP changes impact all reporting segments, excluding SC. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Consumer and Business Banking segment (formerly known as the Retail Banking segment) primarily comprises the Bank's branch locations, residential mortgage business and business banking customers. The branch locations offer a wide range of products and services to both consumers and business banking customers, which attract deposits by offering a variety of deposit instruments including demand and interest-bearing demand deposit accounts, money market and savings accounts, CDs and retirement savings products. The branch locations also offer consumer loans such as credit cards, and home equity loans and lines of credit, and business loans such as commercial lines of credit and business credit cards. In addition, investment services provide annuities, mutual funds, managed monies, and insurance products and acts as an investment brokerage agent to the customers of the Consumer and Business Banking segment. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Commercial Banking segment currently provides commercial lines, loans, and deposits to medium and large business banking customers as well as financing and deposits for government entities, commercial loans to dealers and financing for commercial vehicles and municipal equipment. This segment also provides financing and deposits for government entities and niche product financing for specific industries, including oil and gas and mortgage warehousing, among others. |

|         |                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------|
| • | The Commercial Real Estate segment offers commercial real estate loans and multifamily loans to customers. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The GCB segment was formerly designated as the Global Corporate Banking & Market & Large Corporate Banking segment and was renamed during the third quarter of 2015. This segment serves the needs of global commercial and institutional customers by leveraging the international footprint of the Santander group to provide financing and banking services to corporations with over $500 million in annual revenues. GCB's offerings and strategy are based on Santander's local and global capabilities in wholesale banking. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | SC is a specialized consumer finance company focused on vehicle finance and third-party servicing. SC’s primary business is the indirect origination of RICs, principally through manufacturer-franchised dealers in connection with their sale of new and used vehicles to retail consumers. In conjunction with a ten-year private label financing agreement with FCA that became effective May 1, 2013, SC offers a full spectrum of auto financing products and services to FCA customers and dealers under the Chrysler Capital brand. These products and services include consumer RICs and leases, as well as dealer loans for inventory, construction, real estate, working capital and revolving lines of credit. SC also originates vehicle loans through a Web-based direct lending program, purchases vehicle RICs from other lenders, and services automobile, recreational and marine vehicle portfolios for other lenders. Additionally, SC has several relationships through which it provides personal loans, private label credit cards and other consumer finance products. During 2015, SC announced its intention to exit the personal lending business. |

----

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                   |   |   |   |   |   |   |   |   |   |   |   |
| For the Three-Month Period Ended       | SHUSA Reportable Segments |   |   |   |   |
| March 31, 2016                    | Consumer and Business Banking | Commercial Banking | Commercial Real Estate | Global Corporate Banking | Other(2) |   | SC(3) | SC Purchase Price Adjustments(4) | Eliminations(4) |   | Total |
|                                   | (in thousands) |
| Net interest income                    | $ | 218,389 |  | $ | 77,183 |  | $ | 64,757 |  | $ | 60,317 |  | $ | (21,406 | ) |   | $ | 1,163,578 |  | $ | 51,773 |  | $ | 1,461 |  |   | $ | 1,616,052 |  |
| Total non-interest income              | 174,165 |  | 12,602 |  | 2,062 |  | 17,267 |  | 35,869 |  |   | 353,191 |  | 13,782 |  | (11,237 | ) |   | 597,701 |  |
| Provision/(release)  for credit losses | (6,504 | ) | 61,661 |  | 12,680 |  | 47,795 |  | 4,313 |  |   | 660,170 |  | 102,163 |  | — |  |   | 882,278 |  |
| Total expenses                         | 403,065 |  | 44,595 |  | 19,599 |  | 34,952 |  | 149,363 |  |   | 527,657 |  | 14,733 |  | (12,937 | ) |   | 1,181,027 |  |
| Income/(loss) before income taxes      | (4,007 | ) | (16,471 | ) | 34,540 |  | (5,163 | ) | (139,213 | ) |   | 328,942 |  | (51,341 | ) | 3,161 |  |   | 150,448 |  |
|                                   |   |   |   |   |   |   |   |   |   |   |   |
| Intersegment (expense)/revenue(1)      | 548 |  | 990 |  | 500 |  | (2,109 | ) | 71 |  |   | — |  | — |  | — |  |   | — |  |
| Total assets                           | 21,293,161 |  | 11,734,670 |  | 15,552,072 |  | 12,555,445 |  | 33,091,504 |  |   | 36,797,775 |  | — |  | — |  |   | 131,024,627 |  |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |

|     |                                                                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Intersegment revenue/(expense) represents charges or credits for funds used or provided by each of the segments and is included in net interest income. |

|     |                                                                                                                                                                                                                                                                                                                 |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Other is not considered a segment and includes earnings from non-strategic assets, the investment portfolio, interest expense on the Bank’s and Parent Company's borrowings and other debt obligations, amortization of intangible assets and certain unallocated corporate income and indirect expenses. |

|     |                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------|
| (3) | Management of SHUSA manages SC by analyzing the pre-Change in Control results of SC as disclosed in this column. |

|     |                                                                                                                                                                                                                |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Purchase Price Adjustments represents the impact that SC purchase marks had on the results of SC included within the consolidated operations of SHUSA, while eliminations eliminate intercompany transactions. |

----

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                  |   |   |   |   |   |   |   |   |   |   |   |
| For the Three-Month Period Ended      | SHUSA Reportable Segments |   |   |   |   |
| March 31, 2015                   | Consumer and Business Banking | Commercial Banking | Commercial Real Estate | Global Corporate Banking | Other(2) |   | SC(3) | SC Purchase Price Adjustments(4) | Eliminations(4) |   | Total |
|                                  | (in thousands) |
| Net interest income                   | $ | 204,714 |  | $ | 64,238 |  | $ | 65,320 |  | $ | 49,090 |  | $ | 15,714 |  |   | $ | 1,109,958 |  | $ | 113,936 |  | $ | 87 |  |   | $ | 1,623,057 |  |
| Total non-interest income             | 156,268 |  | 11,658 |  | 7,835 |  | 15,971 |  | 23,713 |  |   | 327,479 |  | 59,303 |  | (15,724 | ) |   | 586,503 |  |
| Provision/(release) for credit losses | 697 |  | 1,614 |  | 10,838 |  | 2,751 |  | 31,100 |  |   | 631,847 |  | 374,792 |  | — |  |   | 1,053,639 |  |
| Total expenses                        | 420,991 |  | 44,593 |  | 17,673 |  | 24,974 |  | 43,551 |  |   | 440,322 |  | 13,743 |  | (13,676 | ) |   | 992,171 |  |
| Income/(loss) before income taxes     | (60,706 | ) | 29,689 |  | 44,644 |  | 37,336 |  | (35,224 | ) |   | 365,268 |  | (215,296 | ) | (1,961 | ) |   | 163,750 |  |
|                                  |   |   |   |   |   |   |   |   |   |   |   |
| Intersegment revenue/(expense)(1)     | 363 |  | 976 |  | 359 |  | (2,325 | ) | 627 |  |   | — |  | — |  | — |  |   | — |  |
| Total assets                          | 22,394,925 |  | 15,497,925 |  | 14,037,580 |  | 11,763,672 |  | 25,602,484 |  |   | 34,119,945 |  | — |  | — |  |   | 123,416,531 |  |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |

|     |                                                                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Intersegment revenue/(expense) represents charges or credits for funds used or provided by each of the segments and is included in net interest income. |

|     |                                                                                                                                                                                                                                                                                                                 |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Other is not considered a segment and includes earnings from non-strategic assets, the investment portfolio, interest expense on the Bank’s and Parent Company's borrowings and other debt obligations, amortization of intangible assets and certain unallocated corporate income and indirect expenses. |

|     |                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------|
| (3) | Management of SHUSA manages SC by analyzing the pre-Change in Control results of SC as disclosed in this column. |

|     |                                                                                                                                                                                                               |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Purchase Price Adjustments represent the impact that SC purchase marks had on the results of SC included within the consolidated operations of SHUSA, while eliminations eliminate intercompany transactions. |

|        |
|--------|
|        |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company determined that its historical methodology for estimating its credit loss allowance for RICs held for investment was in error as it utilized the original contractual interest rate rather than the original effective interest rate as the discount rate applied to the expected cash flows to determine TDR impairment. ASC 310-40-35-12 requires that expected future cash flows be discounted using the original effective interest rate. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company has determined that its application of the retrospective effective interest method for accreting discounts, subvention payments from manufacturers, and other origination costs (collectively "discount") on retail installment contracts held for investment was in error, as (i) these cost basis adjustments were accreted over the average life of a loan rather than the aggregate life of a loan pool, (ii) defaults were inappropriately considered in the estimate of future principal prepayments, (iii) the portfolio was not adequately segmented to consider different prepayment performance based on credit quality and term,  (iv) remaining unaccreted balances at charge off were being recorded as interest income rather than as reductions of the net charge off, and (v) the unaccreted discount component of TDR carrying value was misstated, resulting in inaccurate TDR impairment. |

----

|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |
|                                                |   | March 31, 2016 |
|                                                |   | (in thousands) |
| Overstatement of loans held for investment          |   | $ | 143,909 |  |
|                                                |   |   |
| (Under)/Overstatement of allowance (TDR impairment) |   | $ | 31,100 |  |

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |
|                                         |   | March 31, 2016 |
|                                         |   | (in thousands) |
| Overstatement of Interest income - Loans     |   | $ | (40,132 | ) |
| Overstatement of Provision for credit losses |   | 48,362 |  |
| Understatement of Miscellaneous income       |   | 737 |  |
|                                         |   | $ | 8,967 |  |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company previously omitted the consideration of net discounts when estimating the allowance for credit losses for the non-TDR portfolio of retail installment contracts held for investment. ASC 310, Receivables, refers to the recorded investment in the loan as the appropriate accounting basis. Accordingly, management has determined that the omission of consideration of net discounts in the allowance was in error. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | During the year ended December 31, 2015, the Company had recognized $12.3 million in severance related expenses, $9.9 million in stock compensation expense and a liability of $115.1 million in contemplation of the amounts and benefits payable to the former CEO of SC pursuant to a Separation Agreement among Mr. Dundon, SC, DDFS LLC, SHUSA and Santander. However, the Company has subsequently determined that the previous accounting for the expenses and liabilities contemplated in the Separation Agreement was in error as such expenses and liabilities should not have been recorded until all applicable conditions have been satisfied, including that all regulatory approvals have been obtained. Accordingly, the accompanying restated consolidated financial statements as of and for the year ended December 31, 2015 do not include any expense or liability associated with the Separation Agreement. Further, in the absence of satisfaction of applicable conditions, Mr. Dundon's remaining unexercised vested options are considered to have expired subsequent to his termination without cause; accordingly, the restated financial statements reflect the removal of the deferred tax asset associated with the previously recorded compensation expense related to Mr. Dundon's vested but unexercised options. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company recorded an $50.0 million indefinite lived intangible at the Change in Control of SC. During the quarter ended December 31, 2015.  As part of the Step 2 goodwill impairment analysis, the Company performed a valuation of the intangible assets allocated to the SC reporting unit as of  December 31, 2015. The Company's impairment analysis concluded that the estimated fair value of the indefinite-lived trade name was lower than its carrying value.  As such, the Company originally recorded an $11.7 million impairment charge during the fourth quarter of 2015 and an additional impairment charge of $20.3 million during in the first quarter of 2016. The trade name, as restated, reflects the correction of an error to reflect an impairment charge to the trade name attributed to the fourth quarter of 2014 in the amount of $28.5 million. In addition, during the fourth quarter of 2015, the Company recorded an additional $3.5 million  relating to the trade name. The impairments in 2014 and 2015 were recorded within amortization expense of intangible assets. |

|         |                                              |
|---------|----------------------------------------------|
| • | Note 4 Loans and Allowance for Credit Losses |

|         |                        |
|---------|------------------------|
| • | Note 5 Leased Vehicles |

|         |                                   |
|---------|-----------------------------------|
| • | Note 6 Variable Interest Entities |

|         |                                       |
|---------|---------------------------------------|
| • | Note 7 Goodwill and Other Intangibles |

|         |                     |
|---------|---------------------|
| • | Note 8 Other Assets |

|         |                     |
|---------|---------------------|
| • | Note 11 Derivatives |

|         |                      |
|---------|----------------------|
| • | Note 12 Income Taxes |

|         |                                                       |
|---------|-------------------------------------------------------|
| • | Note 13 Accumulated Other Comprehensive Income/(Loss) |

|         |                                    |
|---------|------------------------------------|
| • | Note 15 Related Party Transactions |

|         |                    |
|---------|--------------------|
| • | Note 16 Fair Value |

|         |                                      |
|---------|--------------------------------------|
| • | Note 17 Business Segment Information |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  |   | As Reported(1) |   | Corrections |   | As Restated |
|                                                  |   | (in thousands) |
| Cash and cash equivalents                             |   | $ | 6,647,408 |  |   | $ | (43,960 | ) |   | $ | 6,603,448 |  |
| Loans held-for-investment                             |   | 81,213,607 |  |   | (119,365 | ) |   | 81,094,242 |  |
| Allowance for loan and lease losses                   |   | (3,533,940 | ) |   | 53,337 |  |   | (3,480,603 | ) |
| Net loans held-for-investment                         |   | 77,679,667 |  |   | (66,028 | ) |   | 77,613,639 |  |
| Leased vehicles, net                                  |   | 8,980,530 |  |   | (21,302 | ) |   | 8,959,228 |  |
| Restricted cash                                       |   | 3,002,322 |  |   | (78,719 | ) |   | 2,923,603 |  |
| Other assets                                          |   | 2,168,999 |  |   | 135,726 |  |   | 2,304,725 |  |
| Total assets                                          |   | 131,098,910 |  |   | (74,283 | ) |   | 131,024,627 |  |
| Accrued expenses and payables                         |   | 1,686,311 |  |   | (170,112 | ) |   | 1,516,199 |  |
| Advance payments by borrowers for taxes and insurance |   | 232,925 |  |   | (1,818 | ) |   | 231,107 |  |
| Deferred tax liabilities, net                         |   | 443,082 |  |   | 29,490 |  |   | 472,572 |  |
| Other liabilities                                     |   | 773,872 |  |   | 44,017 |  |   | 817,889 |  |
| Total liabilities                                     |   | 111,356,941 |  |   | (98,423 | ) |   | 111,258,518 |  |
| Stockholder's equity                                  |   |   |   |   |   |   |
| Common stock and paid-in-capital                      |   | 14,704,909 |  |   | 11,942 |  |   | 14,716,851 |  |
| Accumulated other comprehensive (loss)/ income        |   | (42,359 | ) |   | 15,680 |  |   | (26,679 | ) |
| Retained earnings                                     |   | 2,376,115 |  |   | (14,553 | ) |   | 2,361,562 |  |
| Total SHUSA stockholder's equity                      |   | 17,234,110 |  |   | 13,069 |  |   | 17,247,179 |  |
| Noncontrolling interest                               |   | 2,507,859 |  |   | 11,071 |  |   | 2,518,930 |  |
| Total stockholder's equity                            |   | 19,741,969 |  |   | 24,140 |  |   | 19,766,109 |  |
| Total liabilities and stockholder's equity            |   | $ | 131,098,910 |  |   | $ | (74,283 | ) |   | $ | 131,024,627 |  |

----

|                                                                 |
|-----------------------------------------------------------------|
|                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                            |   | As Reported(1) |   | Corrections |   | As Restated |
|                                                            |   | (in thousands) |
| Interest on loans                                               |   | $ | 1,899,185 |  |   | $ | (40,132 | ) |   | $ | 1,859,053 |  |
| Total interest income                                           |   | 2,009,636 |  |   | (40,132 | ) |   | 1,969,504 |  |
| Net interest income                                             |   | 1,656,184 |  |   | (40,132 | ) |   | 1,616,052 |  |
| Provision for credit losses                                     |   | 920,439 |  |   | (38,161 | ) |   | 882,278 |  |
| Net interest income after provision for credit losses           |   | 735,745 |  |   | (1,971 | ) |   | 733,774 |  |
| Consumer fees                                                   |   | 123,682 |  |   | 785 |  |   | 124,467 |  |
| Lease income                                                    |   | 434,652 |  |   | (13,132 | ) |   | 421,520 |  |
| Miscellaneous income/expense                                    |   | (50,294 | ) |   | 8,413 |  |   | (41,881 | ) |
| Total fees and other income                                     |   | 575,214 |  |   | (3,934 | ) |   | 571,280 |  |
| Total non-interest income                                       |   | 601,635 |  |   | (3,934 | ) |   | 597,701 |  |
| Compensation and benefits                                       |   | 366,119 |  |   | 2,000 |  |   | 368,119 |  |
| Loan expense                                                    |   | 99,995 |  |   | (1,350 | ) |   | 98,645 |  |
| Lease expense                                                   |   | 293,779 |  |   | (897 | ) |   | 292,882 |  |
| Other administrative expenses                                   |   | 80,321 |  |   | 1,316 |  |   | 81,637 |  |
| Total general and administrative expenses                       |   | 1,108,205 |  |   | 1,069 |  |   | 1,109,274 |  |
| Amortization of intangibles                                     |   | 35,238 |  |   | (20,300 | ) |   | 14,938 |  |
| Deposit insurance premiums and other expenses                   |   | 22,235 |  |   | 1,623 |  |   | 23,858 |  |
| Total other expenses                                            |   | 90,430 |  |   | (18,677 | ) |   | 71,753 |  |
| Income/(loss) before income taxes                               |   | 138,745 |  |   | 11,703 |  |   | 150,448 |  |
| Income tax provision/(benefit)                                  |   | 65,010 |  |   | 386 |  |   | 65,396 |  |
| Net income/(loss) including noncontrolling interest             |   | 73,735 |  |   | 11,317 |  |   | 85,052 |  |
| Less: net income/(loss) attributable to noncontrolling interest |   | 61,895 |  |   | 9,380 |  |   | 71,275 |  |
| Net income/(loss) attributable to SHUSA                         |   | $ | 11,840 |  |   | $ | 1,937 |  |   | $ | 13,777 |  |

----

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                    |   | As Reported (1) |   | Corrections |   | As Restated |
|                                                                                    |   | (in thousands) |
| Net income including noncontrolling interest                                            |   | $ | 73,735 |  |   | $ | 11,317 |  |   | $ | 85,052 |  |
| Net unrealized (losses) on cash flow hedge derivative financial instruments, net of tax |   | (48,207 | ) |   | 15,680 |  |   | (32,527 | ) |
| Total other comprehensive income, net of tax                                            |   | 97,282 |  |   | 15,680 |  |   | 112,962 |  |
| Comprehensive income                                                                    |   | 171,017 |   | 26,997 |   | 198,014 |
| Net income attributable to noncontrolling interest                                      |   | 61,895 |  |   | 9,380 |  |   | 71,275 |  |
| Comprehensive income attributable to SHUSA                                              |   | $ | 109,122 |  |   | $ | 17,617 |  |   | $ | 126,739 |  |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                     | Common Stock and Paid-in Capital | AccumulatedOtherComprehensive(Loss)/Income | Retained Earnings | Non-controlling Interest | Total Stockholder's Equity |   | Common Stock and Paid-in Capital | AccumulatedOtherComprehensive(Loss)/Income | Retained Earnings | Non-controlling Interest | Total Stockholder's Equity |   | Common Stock and Paid-in Capital | AccumulatedOtherComprehensive(Loss)/Income | Retained Earnings | Non-controlling Interest | Total Stockholder's Equity |
|                                     | As Reported(1) |   | Corrections |   | As Restated |
|                                     | (in thousands) |
| Balance, Beginning of period             | $ | 14,717,625 |  | $ | (139,641 | ) | $ | 2,367,925 |  | $ | 2,427,599 |  | $ | 19,568,953 |  |   | $ | 11,941 |  | $ | — |  | $ | (16,490 | ) | $ | 17,371 |  | $ | 12,822 |  |   | $ | 14,729,566 |  | $ | (139,641 | ) | $ | 2,351,435 |  | $ | 2,444,970 |  | $ | 19,581,775 |  |
| Comprehensive loss attributable to SHUSA | — |  | 97,282 |  | 11,840 |  | 15,680 |  | 109,122 |  |   | — |  | 15,680 |  | 1,937 |  | (31,360 | ) | 17,617 |  |   | — |  | 112,962 |  | 13,777 |  | (15,680 | ) | 126,739 |  |
| Comprehensive income attributable to NCI | — |  | — |  | — |  | 61,895 |  | 61,895 |  |   | — |  | — |  | — |  | 9,380 |  | 9,380 |  |   | — |  | — |  | — |  | 71,275 |  | 71,275 |  |
| Impact of SC Stock Option                | (13,112 | ) | — |  | — |  | 2,685 |  | (10,427 | ) |   | 1 |  | — |  | — |  | 15,680 |  | 15,681 |  |   | (13,111 | ) | — |  | — |  | 18,365 |  | 5,254 |  |
| Balance, End of period                   | $ | 14,704,909 |  | $ | (42,359 | ) | $ | 2,376,115 |  | $ | 2,507,859 |  | $ | 19,741,969 |  |   | $ | 11,942 |  | $ | 15,680 |  | $ | (14,553 | ) | $ | 11,071 |  | $ | 24,140 |  |   | $ | 14,716,851 |  | $ | (26,679 | ) | $ | 2,361,562 |  | $ | 2,518,930 |  | $ | 19,766,109 |  |

----

|                                                                     |
|---------------------------------------------------------------------|
|                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                |   | As Reported (1) |   | Corrections |   | As Restated |
|                                                                |   | (in thousands) |
| Net income including noncontrolling interest                        |   | $ | 73,735 |  |   | $ | 11,317 |  |   | $ | 85,052 |  |
| Provision for credit losses                                         |   | 920,439 |  |   | (38,161 | ) |   | 882,278 |  |
| Deferred tax expense                                                |   | 53,474 |  |   | 384 |  |   | 53,858 |  |
| Depreciation, amortization and accretion                            |   | 186,238 |  |   | 26,592 |  |   | 212,830 |  |
| Net loss/(gain) on sale of loans                                    |   | 74,000 |  |   | (4,095 | ) |   | 69,905 |  |
| Stock-based compensation                                            |   | 4,723 |  |   | 13,884 |  |   | 18,607 |  |
| Net change in other assets and bank-owned life insurance            |   | (122,411 | ) |   | (58,594 | ) |   | (181,005 | ) |
| Net change in other liabilities                                     |   | 102,639 |  |   | (37,618 | ) |   | 65,021 |  |
| Net cash provided by operating activities                           |   | 835,985 |  |   | (86,291 | ) |   | 749,694 |  |
|                                                                |   |   |   |   |   |   |
| Net change in restricted cash                                       |   | (577,163 | ) |   | 78,719 |  |   | (498,444 | ) |
| Proceeds from the sale and termination of leased vehicles           |   | 483,353 |  |   | (2,749 | ) |   | 480,604 |  |
| Net cash used in investing activities                               |   | (2,259,851 | ) |   | 75,970 |  |   | (2,183,881 | ) |
|                                                                |   |   |   |   |   |   |
| Net proceeds from long-term borrowings                              |   | 13,305,671 |  |   | 67,599 |  |   | 13,373,270 |  |
| Repayments of long-term borrowings                                  |   | (10,683,801 | ) |   | (67,599 | ) |   | (10,751,400 | ) |
| Net change in advance payments by borrowers for taxes and insurance |   | 59,995 |  |   | (25 | ) |   | 59,970 |  |
| Proceeds from the issuance of common stock                          |   | 765 |  |   | (508 | ) |   | 257 |  |
| Net cash provided by financing activities                           |   | 3,046,126 |  |   | (533 | ) |   | 3,045,593 |  |
|                                                                |   |   |   |   |   |   |
| Net change in cash and cash equivalents                             |   | 1,622,260 |  |   | (10,854 | ) |   | 1,611,406 |  |
| Cash and cash equivalents, beginning of period                      |   | 5,025,148 |  |   | (33,106 | ) |   | 4,992,042 |  |
| Cash and cash equivalents, end of period                            |   | $ | 6,647,408 |  |   | $ | (43,960 | ) |   | $ | 6,603,448 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                              |
|------------------------------|
|                              |  |  |
|                         |   | March 31, 2016 |
| Dow Jones Industrial Average |   | 1.5% |
| S&P 500                  |   | 0.8% |
| NASDAQ Composite             |   | (2.7)% |

|                |
|----------------|
|                |  |  |  |  |  |  |  |  |  |  |  |
|           | BANK |   | SHUSA |   | SANTANDER |   | SPAIN |
|           | Moody's | S&P |   | Moody's | S&P |   | Moody's | S&P |   | Moody's | S&P |
| LT Senior Debt | Baa2 | BBB+ |   | Baa2 | BBB+ |   | A3 | A- |   | Baa2 | BBB+ |
| ST Deposits    | P-1 | A-2 |   | n/a | A-2 |   | P-2 | A-2 |   | P-2 | A-2 |
| Outlook        | Stable | Stable |   | Negative | Stable |   | Stable | Stable |   | Stable | Stable |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Santander UK holds two frozen savings and two frozen current accounts for three customers resident in the U.K. who are currently designated by the U.S. under the Specially Designated Global Terrorist ("SDGT") sanctions program. The accounts held by each customer were blocked after the customer's designation and have remained blocked and dormant throughout the first quarter of 2016. Revenue generated by Santander UK on these accounts in the first quarter of 2016 was £3.67 while net profits in the first quarter of 2016 were negligible relative to the overall profits of the Company. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | An Iranian national, resident in the U.K., who is currently designated by the U.S. under the Iranian Financial Sanctions Regulations and the Non-Proliferation Weapons of Mass Destruction ("NPWMD") designation, holds a mortgage with Santander U.K. that was issued prior to any such designation. No further draw-down has been made (or would be allowed) under this mortgage, although Santander U.K. continues to receive repayment installments. In the first quarter of 2016, total revenue in connection with this mortgage was approximately £201.22, while net profits were negligible relative to the overall profits of Santander U.K. Santander U.K. does not intend to enter into any new relationships with this customer, and any disbursements will only be made in accordance with applicable sanctions. The same Iranian national also holds two investment accounts with Santander ISA Managers Limited; with the funds split into the same investment portfolio fund. The accounts have remained frozen during the first quarter of 2016. The investment returns are being automatically reinvested, and no disbursements have been made to the customer. Total revenue for the Santander group in connection with the investment accounts was approximately £4.89 while net profits in the first quarter of 2016 were negligible relative to the overall profits of Santander. |

|         |                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A UK national designated by the U.S. under the SDGT sanctions program, holds a Santander U.K. current account. The account remained in arrears through the first quarter of 2016 (£1,344 in debit) and is currently being managed by Santander U.S. Collections & Recoveries department. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In addition, during the first quarter of 2016, Santander UK has identified an OFAC match on a power of attorney account. The power of attorney listed on the account is currently designated by the U.S. under the SDGT and Iranian Financial Sanction Regulation ("IFSR") sanctions program. During the first quarter of 2016, revenue generated by Santander U.K. was £73.81 whilst net profits in the first quarter of 2016 were negligible relative to the overall profits of Santander. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | Three-Month PeriodEnded March 31, |
|                                | 2016 |   | 2015 |
|                                | As Restated |   |   |
|                                | (in thousands) |
| Net interest income                 | $ | 1,616,052 |  |   | $ | 1,623,057 |  |
| Provision for credit losses         | (882,278 | ) |   | (1,053,639 | ) |
| Total non-interest income           | 597,701 |  |   | 586,503 |  |
| General and administrative expenses | (1,109,274 | ) |   | (959,507 | ) |
| Other expenses                      | (71,753 | ) |   | (32,664 | ) |
| Income before income taxes          | 150,448 |  |   | 163,750 |  |
| Income tax provision                | (65,396 | ) |   | (36,909 | ) |
| Net income(1)                       | $ | 85,052 |  |   | $ | 126,841 |  |

|         |                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net interest income decreased $7.0 million for the three-month period ended March 31, 2016, compared to the corresponding period in 2015. This decrease was primarily due to an increase in interest expense on borrowed funds in three-month period ended March 31, 2016 compared to the three-month period ended March 31, 2015. |

|         |                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The provision for credit losses decreased $171.4 million for the three-month period ended March 31, 2016, compared to the corresponding period in 2015. The decrease was primarily due to activity in the RIC and auto loan portfolio and the related provisions for these portfolios. |

|         |                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Total non-interest income increased $11.2 million for the three-month period ended March 31, 2016, compared to the corresponding period in 2015. The increase was primarily due to increases in lease income and consumer fees. |

|         |                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Total general and administrative expenses increased $149.8 million for the three-month period ended March 31, 2016, compared to the corresponding period in 2015. The increase was primarily due to increases in lease expense and compensation and benefits. |

|         |                                                                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Other expenses increased $39.1 million for the three-month period ended March 31, 2016, compared to the corresponding period in 2015. The increase was primarily due to a loss on debt extinguishment. |

|         |                                                                                                                                                                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The income tax provision increased $28.5 million for the three-month period ended March 31, 2016, compared to the corresponding period in 2015. The increase was due to a higher effective tax rate. Refer to Note 12 of these condensed consolidated financial statements for additional information. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| CONSOLIDATED AVERAGE BALANCE SHEET / TAX EQUIVALENT NET INTEREST MARGIN ANALYSIS |
| THREE-MONTH PERIODS ENDED MARCH 31, 2016 AND 2015                                |
|                                                                             | 2016 (1) |   | 2015 (1) |
|                                                                             | AverageBalance |   | Interest Income |   | Yield/Rate |   | AverageBalance |   | Interest Income |   | Yield/Rate |
|                                                                             | As Restated |   |   |   |   |   |   |
|                                                                             | (dollars in thousands) |
| EARNING ASSETS                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| INVESTMENTS AND INTEREST EARNING DEPOSITS                                        | $ | 26,292,454 |  |   | $ | 110,451 |  |   | 1.72 | % |   | $ | 18,693,857 |  |   | $ | 98,247 |  |   | 2.27 | % |
| LOANS(2):                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loans                                                                 | 31,749,767 |  |   | 248,101 |  |   | 3.17 | % |   | 28,359,319 |  |   | 220,536 |  |   | 3.16 | % |
| Multi-family                                                                     | 9,344,353 |  |   | 83,942 |  |   | 3.60 | % |   | 8,575,214 |  |   | 89,305 |  |   | 4.17 | % |
| Consumer loans:                                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Residential mortgages                                                            | 6,405,010 |  |   | 62,361 |  |   | 3.89 | % |   | 6,910,227 |  |   | 69,571 |  |   | 4.03 | % |
| Home equity loans and lines of credit                                            | 6,134,034 |  |   | 55,288 |  |   | 3.61 | % |   | 6,194,836 |  |   | 54,503 |  |   | 3.52 | % |
| Total consumer loans secured by real estate                                      | 12,539,044 |  |   | 117,649 |  |   | 3.75 | % |   | 13,105,063 |  |   | 124,074 |  |   | 3.79 | % |
| Retail installment contracts and auto loans                                      | 26,056,702 |  |   | 1,227,882 |  |   | 18.85 | % |   | 23,103,356 |  |   | 1,159,277 |  |   | 20.07 | % |
| Personal unsecured                                                               | 2,134,911 |  |   | 158,916 |  |   | 29.77 | % |   | 2,712,367 |  |   | 181,057 |  |   | 26.70 | % |
| Other consumer(3)                                                                | 1,004,955 |  |   | 22,563 |  |   | 8.98 | % |   | 1,273,457 |  |   | 29,429 |  |   | 9.24 | % |
| Total consumer                                                                   | 41,735,612 |  |   | 1,527,010 |  |   | 14.64 | % |   | 40,194,243 |  |   | 1,493,837 |  |   | 14.87 | % |
| Total loans                                                                      | 82,829,732 |  |   | 1,859,053 |  |   | 9.00 | % |   | 77,128,776 |  |   | 1,803,678 |  |   | 9.37 | % |
| Allowance for loan losses (4)                                                    | (3,247,634 | ) |   | — |  |   | —% |  |   | (1,811,274 | ) |   | — |  |   | —% |  |
| NET LOANS                                                                        | 79,582,098 |  |   | 1,859,053 |  |   | 9.36 | % |   | 75,317,502 |  |   | 1,803,678 |  |   | 9.60 | % |
| Intercompany investments                                                         | 14,640 |  |   | 225 |  |   | 6.16 | % |   | 14,640 |  |   | 221 |  |   | 6.03 | % |
| TOTAL EARNING ASSETS                                                             | 105,889,192 |  |   | 1,969,729 |  |   | 7.46 | % |   | 94,025,999 |  |   | 1,902,146 |  |   | 8.14 | % |
| Other assets(5)                                                                  | 22,914,860 |  |   |   |   |   |   | 25,150,847 |  |   |   |   |   |
| TOTAL ASSETS                                                                     | $ | 128,804,052 |  |   |   |   |   |   | $ | 119,176,846 |  |   |   |   |   |
| INTEREST BEARING FUNDING LIABILITIES                                             |   |   |   |   |   |   |   |   |   |   |   |
| Deposits and other customer related accounts:                                    |   |   |   |   |   |   |   |   |   |   |   |
| Interest bearing demand deposits                                                 | $ | 10,794,180 |  |   | $ | 14,463 |  |   | 0.54 | % |   | $ | 11,596,473 |  |   | $ | 12,840 |  |   | 0.44 | % |
| Savings                                                                          | 4,012,265 |  |   | 1,020 |  |   | 0.10 | % |   | 3,903,245 |  |   | 1,202 |  |   | 0.12 | % |
| Money market                                                                     | 24,369,473 |  |   | 32,456 |  |   | 0.53 | % |   | 22,056,441 |  |   | 30,355 |  |   | 0.55 | % |
| Certificates of deposit                                                          | 9,013,589 |  |   | 20,861 |  |   | 0.93 | % |   | 8,185,116 |  |   | 18,996 |  |   | 0.93 | % |
| TOTAL INTEREST BEARING DEPOSITS                                                  | 48,189,507 |  |   | 68,800 |  |   | 0.57 | % |   | 45,741,275 |  |   | 63,393 |  |   | 0.55 | % |
| BORROWED FUNDS:                                                                  |   |   |   |   |   |   |   |   |   |   |   |
| FHLB advances                                                                    | 12,998,187 |  |   | 48,492 |  |   | 1.49 | % |   | 7,157,556 |  |   | 43,382 |  |   | 2.42 | % |
| Federal funds and repurchase agreements                                          | 1,099 |  |   | 1 |  |   | 0.36 | % |   | 24,722 |  |   | 8 |  |   | 0.13 | % |
| Other borrowings                                                                 | 36,435,659 |  |   | 236,159 |  |   | 2.59 | % |   | 31,894,131 |  |   | 172,085 |  |   | 2.16 | % |
| TOTAL BORROWED FUNDS (6)                                                         | 49,434,945 |  |   | 284,652 |  |   | 2.30 | % |   | 39,076,409 |  |   | 215,475 |  |   | 2.21 | % |
| TOTAL INTEREST BEARING FUNDING LIABILITIES                                       | 97,624,452 |  |   | 353,452 |  |   | 1.45 | % |   | 84,817,684 |  |   | 278,868 |  |   | 1.32 | % |
| Noninterest bearing demand deposits                                              | 8,412,743 |  |   |   |   |   |   | 7,943,049 |  |   |   |   |   |
| Other liabilities(7)                                                             | 3,030,349 |  |   |   |   |   |   | 3,468,082 |  |   |   |   |   |
| TOTAL LIABILITIES                                                                | 109,067,544 |  |   |   |   |   |   | 96,228,815 |  |   |   |   |   |
| STOCKHOLDER’S EQUITY                                                       | 19,736,508 |  |   |   |   |   |   | 22,948,031 |  |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY                                 | $ | 128,804,052 |  |   |   |   |   |   | $ | 119,176,846 |  |   |   |   |   |
| TAXABLE EQUIVALENT NET INTEREST INCOME                                           |   |   | $ | 1,616,052 |  |   |   |   |   |   | $ | 1,623,057 |  |   |   |
| NET INTEREST SPREAD (8)                                                          |   |   |   |   | 6.01 | % |   |   |   |   |   | 6.82 | % |
| NET INTEREST MARGIN (9)                                                          |   |   |   |   | 6.13 | % |   |   |   |   |   | 6.95 | % |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|     |                                                                                                                                       |
|-----|---------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Average balances are based on daily averages when available. When daily averages are unavailable, mid-month averages are substituted. |

|     |                                                                                                                                                                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Interest on loans includes amortization of premiums and discounts on purchased loan portfolios and amortization of deferred loan fees, net of origination costs. Average loan balances includes non-accrual loans and loans held for sale ("LHFS"). |

|     |                                                                                 |
|-----|---------------------------------------------------------------------------------|
| (3) | Other consumer primarily includes recreational vehicle ("RV") and marine loans. |

|     |                                                                                                    |
|-----|----------------------------------------------------------------------------------------------------|
| (4) | Refer to Note 4 to the Condensed Consolidated Financial Statements for further discussion. |

|     |                                                                                                                                                                                                                                                                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Other assets primarily includes goodwill and intangibles, premise and equipment, net deferred tax assets, equity method investments, BOLI, accrued interest receivable, derivative assets, miscellaneous receivables, prepaid expenses and MSRs. Refer to Note 8 to the Condensed Consolidated Financial Statements for further discussion. |

|     |                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------|
| (6) | Refer to Note 10 to the Condensed Consolidated Financial Statements for further discussion. |

|     |                                                                                                                                                                                  |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7) | Other liabilities primarily includes accounts payable and accrued expenses, derivative liabilities, net deferred tax liabilities and the unfunded lending commitments liability. |

|     |                                                                                                                |
|-----|----------------------------------------------------------------------------------------------------------------|
| (8) | Represents the difference between the yield on total earning assets and the cost of total funding liabilities. |

|     |                                                                                                           |
|-----|-----------------------------------------------------------------------------------------------------------|
| (9) | Represents annualized, taxable equivalent net interest income divided by average interest-earning assets. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |
|                                                                         | Three-Month PeriodEnded March 31, |
|                                                                         | 2016 |   | 2015 |
|                                                                         | As Restated |   |   |
|                                                                         | (in thousands) |
| INTEREST INCOME:                                                             |   |   |   |
| Interest-earning deposits                                                    | $ | 8,725 |  |   | $ | 1,762 |  |
| Investments available-for-sale                                               | 92,653 |  |   | 77,417 |  |
| Other investments                                                            | 9,073 |  |   | 19,068 |  |
| Total interest income on investment securities and interest-earning deposits | 110,451 |  |   | 98,247 |  |
| Interest on loans                                                            | 1,859,053 |  |   | 1,803,678 |  |
| Total Interest Income                                                        | 1,969,504 |  |   | 1,901,925 |  |
| INTEREST EXPENSE:                                                            |   |   |   |
| Deposits and customer accounts                                               | 68,800 |  |   | 63,393 |  |
| Borrowings and other debt obligations                                        | 284,652 |  |   | 215,475 |  |
| Total Interest Expense                                                       | 353,452 |  |   | 278,868 |  |
|  NET INTEREST INCOME                                                    | $ | 1,616,052 |  |   | $ | 1,623,057 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |
|                                                          | Three-Month Period Ended March 31, |
|                                                          | 2016 |   | 2015 |
|                                                          | (As Restated) |   |   |
|                                                          | (in thousands) |
| Allowance for loan and lease losses, beginning of period      | $ | 3,160,711 |  |   | $ | 1,701,602 |  |
| Charge-offs:                                                  |   |   |   |
| Commercial                                                    | (40,315 | ) |   | (19,339 | ) |
| Consumer                                                      | (1,129,413 | ) |   | (942,975 | ) |
| Total charge-offs                                             | (1,169,728 | ) |   | (962,314 | ) |
| Recoveries:                                                   |   |   |   |
| Commercial                                                    | 25,414 |  |   | 5,999 |  |
| Consumer                                                      | 606,539 |  |   | 504,478 |  |
| Total recoveries                                              | 631,953 |  |   | 510,477 |  |
| Charge-offs, net of recoveries                                | (537,775 | ) |   | (451,837 | ) |
| Provision for loan and lease losses (1)                       | 857,667 |  |   | 1,058,639 |  |
| Other(2):                                                     |   |   |   |
| Consumer                                                      | — |  |   | (27,117 | ) |
| Allowance for loan and lease losses, end of period            | $ | 3,480,603 |  |   | $ | 2,281,287 |  |
|                                                          |   |   |   |
| Reserve for unfunded lending commitments, beginning of period | $ | 147,397 |  |   | $ | 132,641 |  |
| Provision for unfunded lending commitments (1)                | 24,611 |  |   | (5,000 | ) |
| Reserve for unfunded lending commitments, end of period       | 172,008 |  |   | 127,641 |  |
| Total allowance for credit losses ("ACL"), end of period      | $ | 3,652,611 |  |   | $ | 2,408,928 |  |

|     |                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The provision for credit losses in the Condensed Consolidated Statement of Operations is the sum of the total provision for loan and lease losses and provision for unfunded lending commitments. |

|     |                                                                                                                                                                                  |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The "Other" amount represents the impact on the ALLL in connection with SC classifying approximately $1.0 billion of RICs as held-for-sale during the first quarter of 2015. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                    | Three-Month PeriodEnded March 31, |   | Change |
|                                                    | 2016 |   | 2015 |   | Dollar |   | Percentage |
|                                                    | (As Restated) |   |   |   |   |   |   |
|                                                    | (in thousands) |   |   |   |   |
| Consumer fees                                           | $ | 124,467 |  |   | $ | 100,704 |  |   | $ | 23,763 |  |   | 23.6 |  % |
| Commercial fees                                         | 41,294 |  |   | 42,685 |  |   | (1,391 | ) |   | (3.3 | )% |
| Mortgage banking income, net                            | 16,344 |  |   | 17,863 |  |   | (1,519 | ) |   | (8.5 | )% |
| Equity method investments loss, net                     | (4,192 | ) |   | (7,133 | ) |   | 2,941 |  |   | (41.2 | )% |
| Bank-owned life insurance                               | 13,728 |  |   | 12,956 |  |   | 772 |  |   | 6.0 |  % |
| Lease income                                            | 421,520 |  |   | 313,331 |  |   | 108,189 |  |   | 34.5 |  % |
| Miscellaneous income                                    | (41,881 | ) |   | 96,540 |  |   | (138,421 | ) |   | (143.4 | )% |
| Net gain recognized in earnings                         | 26,421 |  |   | 9,557 |  |   | 16,864 |  |   | 176.5 |  % |
|      Total non-interest income | $ | 597,701 |  |   | $ | 586,503 |  |   | $ | 11,198 |  |   | 1.9 |  % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                                         |
|-------------------------------------------------------------------------|
|                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                    | Three-Month PeriodEnded March 31, |   | Change |
|                                                                    | 2016 |   | 2015 |   | Dollar |   | Percentage |
|                                                                    | (in thousands) |   |   |   |   |
| Mortgage and multifamily servicing fees                                 | $ | 10,820 |  |   | $ | 11,233 |  |   | $ | (413 | ) |   | (3.7 | )% |
| Net gains on sales of residential mortgage loans and related securities | 3,132 |  |   | 6,204 |  |   | (3,072 | ) |   | (49.5 | )% |
| Net gains on sales of multifamily mortgage loans                        | 400 |  |   | 4,947 |  |   | (4,547 | ) |   | (91.9 | )% |
| Net gains on hedging activities                                         | 22,074 |  |   | 8,600 |  |   | 13,474 |  |   | 156.7 |  % |
| Net losses from changes in MSR fair value                               | (14,356 | ) |   | (6,990 | ) |   | (7,366 | ) |   | 105.4 |  % |
| MSR principal reductions                                                | (5,726 | ) |   | (6,131 | ) |   | 405 |  |   | (6.6 | )% |
|      Total mortgage banking income, net        | $ | 16,344 |  |   | $ | 17,863 |  |   | $ | (1,519 | ) |   | (8.5 | )% |

|                    |
|--------------------|
|                    |  |  |  |  |  |
|               | 30-Year Fixed |   | 15-Year Fixed |
| March 31, 2014     | 4.38 | % |   | 3.50 | % |
| June 30, 2014      | 4.13 | % |   | 3.38 | % |
| September 30, 2014 | 4.25 | % |   | 3.50 | % |
| December 31, 2014  | 3.99 | % |   | 3.25 | % |
| March 31, 2015     | 3.88 | % |   | 3.13 | % |
| June 30, 2015      | 4.13 | % |   | 3.38 | % |
| September 30, 2015 | 3.88 | % |   | 3.13 | % |
| December 31, 2015  | 4.13 | % |   | 3.38 | % |
| March 31, 2016     | 3.63 | % |   | 2.88 | % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                      | Three-Month PeriodEnded March 31, |   | Change |
|                                      | 2016 |   | 2015 |   | Dollar |   | Percentage |
|                                      | (As Restated) |   |   |   |   |   |   |
|                                      | (in thousands) |   |   |   |   |
| Compensation and benefits                 | $ | 368,119 |  |   | $ | 319,101 |  |   | $ | 49,018 |  |   | 15.4 | % |
| Occupancy and equipment expenses          | 133,673 |  |   | 129,166 |  |   | 4,507 |  |   | 3.5 | % |
| Technology expense                        | 44,816 |  |   | 42,089 |  |   | 2,727 |  |   | 6.5 | % |
| Outside services                          | 70,220 |  |   | 48,399 |  |   | 21,821 |  |   | 45.1 | % |
| Marketing expense                         | 19,282 |  |   | 14,341 |  |   | 4,941 |  |   | 34.5 | % |
| Loan expense                              | 98,645 |  |   | 93,797 |  |   | 4,848 |  |   | 5.2 | % |
| Lease expense                             | 292,882 |  |   | 240,948 |  |   | 51,934 |  |   | 21.6 | % |
| Other administrative expenses             | 81,637 |  |   | 71,666 |  |   | 9,971 |  |   | 13.9 | % |
| Total general and administrative expenses | $ | 1,109,274 |  |   | $ | 959,507 |  |   | $ | 149,767 |  |   | 15.6 | % |

|         |                                                                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Compensation and benefits expense increased $49.0 million for the three-month period ended March 31, 2016 from the corresponding period in 2015. The primary driver of this increase was the Company's headcount, in particular within its consumer finance subsidiary. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Outside services increased $21.8 million for the three-month period ended March 31, 2016 from the corresponding period in 2015. This increase was primarily due to increased consulting service fees that relate to regulatory-related initiatives, including preparation for meeting the requirements of the IHC implementation rules. Consulting fees increased $14.8 million for the three-month period ended March 31, 2016 from the corresponding period in 2015, which accounts for 68.0% of the increase. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Loan expense increased $4.8 million for the three-month period ended March 31, 2016 from the corresponding period in 2015. This increase was primarily due to a $14.6 million increase in loan collection expenses largely associated with the growing RIC and auto loan portfolio. The increase was offset by a decrease of $6.9 million in loan servicing expenses and a decrease of $2.8 million in loan origination expense. |

|         |                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Lease expense increased $51.9 million for the three-month period ended March 31, 2016 from the corresponding period in 2015. This increase was primarily due to the continued growth of the Company's leased vehicle portfolio and depreciation associated with this portfolio. |

|         |                                                                                                                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Other administrative expenses increased $10.0 million for the three-month period ended March 31, 2016 from the corresponding period in 2015. The increase is due to a $7.1 million increase in the accrual for open regulatory and government matters that accounted for approximately 70.9% of the increase. |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | Three-Month PeriodEnded March 31, |   | Change |
|                                              | 2016 |   | 2015 |   | Dollar |   | Percentage |
|                                              | As Restated |   |   |   |   |   |   |
|                                              | (in thousands) |   |   |   |   |
| Amortization of intangibles                       | $ | 14,938 |  |   | $ | 16,806 |  |   | $ | (1,868 | ) |   | (11.1 | )% |
| Deposit insurance premiums and other expenses     | 23,858 |  |   | 15,809 |  |   | 8,049 |  |   | 50.9 |  % |
| Loss on debt extinguishment                       | 32,872 |  |   | — |  |   | 32,872 |  |   | 100% |  |
| Investment expense on affordable housing projects | 85 |  |   | 49 |  |   | 36 |  |   | 73.5 |  % |
| Total other expenses                              | $ | 71,753 |  |   | $ | 32,664 |  |   | $ | 39,089 |  |   | 119.7 |  % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                 | March 31, 2016 |   | December 31, 2015 |   | March 31, 2015 |
|                                                 | Amount |   | Percent |   | Amount |   | Percent |   | Amount |   | Percent |
|                                                 | As Restated |   |   |   |   |   |   |   |   |
|                                                 | (dollars in thousands) |
| Commercial loans:                                    |   |   |   |   |   |   |   |   |   |   |   |
| Commercial real estate loans                         | $ | 9,315,291 |  |   | 11.1 | % |   | $ | 8,722,917 |  |   | 10.6 | % |   | $ | 8,799,757 |  |   | 11.0 | % |
| Commercial and industrial loans and other commercial | 23,076,343 |  |   | 27.5 | % |   | 22,550,739 |  |   | 27.3 | % |   | 20,982,655 |  |   | 26.3 | % |
| Multifamily                                          | 9,330,482 |  |   | 11.2 | % |   | 9,438,463 |  |   | 11.4 | % |   | 8,552,911 |  |   | 10.7 | % |
| Total Commercial Loans                               | 41,722,116 |  |   | 49.8 | % |   | 40,712,119 |  |   | 49.3 | % |   | 38,335,323 |  |   | 48.0 | % |
| Consumer loans secured by real estate:               |   |   |   |   |   |   |   |   |   |   |   |
| Residential mortgages                                | 6,439,118 |  |   | 7.7 | % |   | 6,467,755 |  |   | 7.8 | % |   | 7,014,276 |  |   | 8.8 | % |
| Home equity loans and lines of credit                | 6,103,844 |  |   | 7.3 | % |   | 6,151,232 |  |   | 7.5 | % |   | 6,176,299 |  |   | 7.7 | % |
| Total consumer loans secured by real estate          | 12,542,962 |  |   | 15.0 | % |   | 12,618,987 |  |   | 15.3 | % |   | 13,190,575 |  |   | 16.5 | % |
| Consumer loans not secured by real estate:           |   |   |   |   |   |   |   |   |   |   |   |
| Retail installment contracts and auto loans          | 26,727,331 |  |   | 32.0 | % |   | 25,553,507 |  |   | 31.0 | % |   | 24,341,530 |  |   | 30.5 | % |
| Personal unsecured loans                             | 1,672,148 |  |   | 2.0 | % |   | 2,639,881 |  |   | 3.2 | % |   | 2,696,815 |  |   | 3.4 | % |
| Other consumer                                       | 973,026 |  |   | 1.2 | % |   | 1,032,580 |  |   | 1.2 | % |   | 1,236,612 |  |   | 1.6 | % |
| Total Consumer Loans                                 | 41,915,467 |  |   | 50.2 | % |   | 41,844,955 |  |   | 50.7 | % |   | 41,465,532 |  |   | 52.0 | % |
| Total Loans                                          | $ | 83,637,583 |  |   | 100.0 | % |   | $ | 82,557,074 |  |   | 100.0 | % |   | $ | 79,800,855 |  |   | 100.0 | % |
| Total Loans with:                                    |   |   |   |   |   |   |   |   |   |   |   |
| Fixed                                                | $ | 49,071,437 |  |   | 58.7 | % |   | $ | 48,871,915 |  |   | 59.2 | % |   | $ | 48,155,051 |  |   | 60.3 | % |
| Variable                                             | 34,566,146 |  |   | 41.3 | % |   | 33,685,159 |  |   | 40.8 | % |   | 31,645,804 |  |   | 39.7 | % |
| Total Loans                                          | $ | 83,637,583 |  |   | 100.0 | % |   | $ | 82,557,074 |  |   | 100.0 | % |   | $ | 79,800,855 |  |   | 100.0 | % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                 |
|---------------------------------|
|                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                            |   | AT MARCH 31, 2016, MATURING |
|                            |   | In One YearOr Less |   | One to FiveYears |   | After FiveYears |   | Total(1) |
|                            |   | (in thousands) |
| Commercial real estate loans    |   | $ | 1,988,423 |  |   | $ | 5,551,131 |  |   | $ | 1,775,737 |  |   | $ | 9,315,291 |  |
| Commercial and industrial loans |   | 8,747,133 |  |   | 11,756,123 |  |   | 2,573,087 |  |   | 23,076,343 |  |
| Multifamily loans               |   | 883,706 |  |   | 6,582,071 |  |   | 1,864,705 |  |   | 9,330,482 |  |
| Total                           |   | $ | 11,619,262 |  |   | $ | 23,889,325 |  |   | $ | 6,213,529 |  |   | $ | 41,722,116 |  |
| Loans with:                     |   |   |   |   |   |   |   | — |  |
| Fixed rates                     |   | $ | 2,188,999 |  |   | $ | 9,383,716 |  |   | $ | 2,672,657 |  |   | $ | 14,245,372 |  |
| Variable rates                  |   | 9,430,263 |  |   | 14,505,609 |  |   | 3,540,872 |  |   | 27,476,744 |  |
| Total                           |   | $ | 11,619,262 |  |   | $ | 23,889,325 |  |   | $ | 6,213,529 |  |   | $ | 41,722,116 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | March 31, 2016 |   | December 31, 2015 |
| Credit Score Range(2) |   | Retail installment contracts and auto loans |   | Retail installment contracts and auto loans |
|                  |   | Standard file(3) |   | Non-Standard file(4) |   | Standard file(3) |   | Non-Standard file(4) |
|                  |   |   |   |   |   |   |   |   |
| No FICOs(1)           |   | 17.4 | % |   | 65.1 | % |   | 19.2 | % |   | 64.5 | % |
| <600               |   | 53.7 | % |   | 20.8 | % |   | 52.3 | % |   | 21.3 | % |
| 600-639               |   | 17.0 | % |   | 6.6 | % |   | 16.7 | % |   | 6.7 | % |
| >=640              |   | 11.9 | % |   | 7.5 | % |   | 11.8 | % |   | 7.5 | % |
| Total                 |   | 100.0 | % |   | 100.0 | % |   | 100.0 | % |   | 100.0 | % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                                                                |
|------------------------------------------------------------------------------------------------|
|                                                                                                |  |  |  |  |  |  |  |
|                                                                                           | March 31, 2016 |   | December 31, 2015 |
|                                                                                           | As Restated |   |   |
|                                                                                           | (in thousands) |
| Non-accrual loans:                                                                             |   |   |   |
| Commercial:                                                                                    |   |   |   |
| Commercial real estate                                                                         | $ | 158,400 |  |   | $ | 113,178 |  |
| Commercial and industrial loans and other commercial                                           | 252,422 |  |   | 88,727 |  |
| Multifamily                                                                                    | 4,855 |  |   | 9,162 |  |
| Total commercial loans                                                                         | 415,677 |  |   | 211,067 |  |
| Consumer:                                                                                      |   |  |   |   |  |
| Residential mortgages                                                                          | 168,212 |  |   | 173,780 |  |
| Consumer loans secured by real estate                                                          | 123,883 |  |   | 127,171 |  |
| Retail Installment Contracts and auto loans                                                    | 803,798 |  |   | 1,119,061 |  |
| Other consumer                                                                                 | 16,874 |  |   | 24,020 |  |
| Total consumer loans                                                                           | 1,112,767 |  |   | 1,444,032 |  |
|                                                                                           |   |   |   |
| Total non-accrual loans                                                                        | 1,528,444 |  |   | 1,655,099 |  |
|                                                                                           |   |   |   |
| Other real estate owned                                                                        | 36,981 |  |   | 38,959 |  |
| Repossessed vehicles                                                                           | 188,744 |  |   | 172,375 |  |
| Other repossessed assets                                                                       | 1,821 |  |   | 374 |  |
| Total other real estate owned and other repossessed assets                                     | 227,546 |  |   | 211,708 |  |
| Total non-performing assets                                                                    | $ | 1,755,990 |  |   | $ | 1,866,807 |  |
|                                                                                           |   |   |   |
| Past due 90 days or more as to interest or principal and accruing interest                | $ | 72,878 |  |   | $ | 79,729 |  |
| Annualized net loan charge-offs to average loans (2)                                           | 2.6 | % |   | 2.3 | % |
| Non-performing assets as a percentage of total assets                                          | 1.3 | % |   | 1.5 | % |
| NPLs as a percentage of total loans                                                            | 1.8 | % |   | 2.0 | % |
| Non-performing assets as a percentage of total loans, real estate owned and repossessed assets | 2.1 | % |   | 2.3 | % |
| ACL as a percentage of total non-performing assets (1)                                         | 208.0 | % |   | 177.2 | % |
| ACL as a percentage of total NPLs (1)                                                          | 239.0 | % |   | 199.9 | % |

|     |                                                                                                                                                                   |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The ACL is comprised of the ALLL and the reserve for unfunded lending commitments. The reserve for unfunded lending commitments is included in other liabilities. |

|     |                                                                                                                                                                                 |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Annualized net loan charge-offs to average loans is calculated as annualized net loan charge-offs divided by the average loan balance for the period ended March 31, 2016. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | March 31, 2016 |   | December 31, 2015 |
|                                | Residential mortgages (1) |   | Home equity loans and lines of credit |   | Residential mortgages (1) |   | Home equity loans and lines of credit |
|                                | (dollars in thousands) |
|                                |   |   |   |   |   |   |   |
| Non-performing loans                | $ | 168,212 |  |   | $ | 123,883 |  |   | $ | 173,780 |  |   | $ | 127,171 |  |
| Total loans                         | $ | 6,439,118 |  |   | $ | 6,103,844 |  |   | $ | 6,467,755 |  |   | $ | 6,151,232 |  |
| NPLs as a percentage of total loans | 2.6 | % |   | 2.0 | % |   | 2.7 | % |   | 2.1 | % |
| NPLs in foreclosure status          | 21.2 | % |   | 24.1 | % |   | 43.3 | % |   | 23.5 | % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                  |
|------------------|
|                  |  |  |  |
|             | March 31, 2016 |   | December 31, 2015 |
|             |   |   |   |
| New Jersey       | 25.0% |   | 17.2% |
| New York         | 22.9% |   | 27.4% |
| Pennsylvania     | 10.9% |   | 22.3% |
| Massachusetts    | 18.9% |   | 10.6% |
| All other states | 22.3% |   | 22.5% |

|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |
|                                                                   | March 31, 2016 |   | December 31, 2015 |
|                                                                   | (dollars in thousands) |
|                                                                   |   |   |   |
| Alt-A loans                                                            | $ | 512,527 |  |   | $ | 531,824 |  |
| Alt-A loans as a percentage of the residential mortgage portfolio(1)   | 8.0 | % |   | 8.2 | % |
| Alt-A loans in NPL status                                              | $ | 45,281 |  |   | $ | 46,426 |  |
| Alt-A loans in NPL status as a percentage of residential mortgage NPLs | 26.9 | % |   | 26.7 | % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |
|                                       | March 31, 2016 |   | December 31, 2015 |
|                                       | As Restated |   |   |
|                                       | (in thousands) |
| Performing                                 |   |   |   |
| Commercial                                 | $ | 167,765 |  |   | $ | 127,989 |  |
| Residential mortgage                       | 136,793 |  |   | 134,356 |  |
| Retail installment contracts and auto loan | 3,761,656 |  |   | 3,434,412 |  |
| Other consumer                             | 112,034 |  |   | 100,474 |  |
| Total performing                           | 4,178,248 |  |   | 3,797,231 |  |
| Non-performing                             |   |   |   |
| Commercial                                 | 85,745 |  |   | 66,042 |  |
| Residential mortgage                       | 63,733 |  |   | 66,573 |  |
| Retail installment contracts and auto loan | 312,642 |  |   | 421,356 |  |
| Other consumer                             | 47,472 |  |   | 48,344 |  |
| Total non-performing                       | 509,592 |  |   | 602,315 |  |
| Total                                      | $ | 4,687,840 |  |   | $ | 4,399,546 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                         |   |   |   |   |   |   |   |   |
|                         |   | Three-Month Period Ended March 31, 2016 |   | Three-Month Period Ended March 31, 2015 |
|                         |   | Retail installment contracts and auto loan |   | All other loans(1)(2) |   | Retail installment contracts and auto loan |   | All other loans(1)(2) |
|                         |   | As Restated |   |   |   |   |
|                         |   | (in thousands) |
| TDRs, beginning of period(1) |   | $ | 3,866,235 |  |   | $ | 530,992 |  |   | $ | 1,840,970 |  |   | $ | 526,966 |  |
| New TDRs                     |   | 724,691 |  |   | 89,157 |  |   | 1,089,823 |  |   | 39,751 |  |
| Charged-Off TDRs             |   | (364,153 | ) |   | (4,240 | ) |   | (185,762 | ) |   | (7,570 | ) |
| Sold TDRs                    |   | 2,203 |  |   | — |  |   | 126 |  |   | — |  |
| Payments on TDRs             |   | (154,677 | ) |   | (21,771 | ) |   | (88,508 | ) |   | (47,418 | ) |
| TDRs, end of period(2)       |   | $ | 4,074,299 |  |   | $ | 594,137 |  |   | $ | 2,656.649 |  |   | $ | 511.729 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |
|                          | March 31, 2016 |   | December 31, 2015 |
|                          | Consumer Loans Secured by Real Estate | Retail Installment Contracts and auto loans | Other Consumer Loans | Commercial Loans | Total |   | Consumer Loans Secured by Real Estate | Retail Installment Contracts and auto loans | Other Consumer Loans | Commercial Loans | Total |
|                          | As Restated |   |   |   |   |   |   |
|                          | (in thousands) |
| Total Delinquencies           | $367,143 | $2,884,405 | $215,385 | $222,327 | $3,689,260 |   | $390,714 | $3,713,852 | $236,667 | $159,011 | $4,500,244 |
| Total Loans(1)                | $12,542,962 | $26,727,331 | $2,645,174 | $41,722,116 | $83,637,583 |   | $12,618,987 | $25,553,507 | $3,672,461 | $40,712,119 | $82,557,074 |
| Delinquencies as a % of Loans | 2.9% | 10.8% | 8.1% | 0.5% | 4.4% |   | 3.1% | 14.5% | 6.4% | 0.4% | 5.5% |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                      | March 31, 2016 |   | December 31, 2015 |
|                                      | Amount |   | % of Loans to Total HFI Loans |   | Amount |   | % of Loans to Total HFI Loans |
|                                      | As Restated |   |   |   |   |
|                                      | (dollars in thousands) |
| Allocated allowance:                      |   |   |   |   |   |   |   |
| Commercial loans                          | $ | 531,850 |  |   | 51.5 | % |   | $ | 435,717 |  |   | 51.2 | % |
| Consumer loans                            | 2,903,425 |  |   | 48.5 | % |   | 2,679,666 |  |   | 48.8 | % |
| Unallocated allowance                     | 45,328 |  |   | n/a |  |   | 45,328 |  |   | n/a |  |
| Total allowance for loan and lease losses | 3,480,603 |  |   | 100.0 | % |   | 3,160,711 |  |   | 100.0 | % |
| Reserve for unfunded lending commitments  | 172,008 |  |   |   |   | 147,397 |  |   |   |
| Total allowance for credit losses         | $ | 3,652,611 |  |   |   |   | $ | 3,308,108 |  |   |   |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |
|                                             | March 31, 2016 |   | December 31, 2015 |
|                                             | (in thousands) |
| Investment securities available-for-sale:        |   |   |   |
| U.S. Treasury securities and government agencies | $ | 7,364,951 |  |   | $ | 8,197,496 |  |
| FNMA and FHLMC securities                        | 9,659,645 |  |   | 8,630,503 |  |
| State and municipal securities                   | 21,627 |  |   | 767,880 |  |
| Other securities (1)                             | 3,486,893 |  |   | 3,255,616 |  |
| Total investment securities available-for-sale   | 20,533,116 |  |   | 20,851,495 |  |
| Other investments                                | 978,470 |  |   | 1,024,259 |  |
| Total investment portfolio                       | $ | 21,511,586 |  |   | $ | 21,875,754 |  |

|          |
|----------|
|          |  |  |  |  |  |  |  |
|     | At March 31, 2016 |
|     | Amortized Cost |   | Fair Value |
|     | (in thousands) |
| FNMA     | $ | 4,833,726 |  |   | $ | 4,838,774 |  |
| FHLMC    | 4,792,105 |  |   | 4,809,875 |  |
| GNMA (1) | 6,960,261 |  |   | 7,009,191 |  |
| Total    | $ | 16,586,092 |  |   | $ | 16,657,840 |  |

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                       |   | Retail Banking |   | Commercial Real Estate |   | Commercial Banking |   | Global Corporate Banking |   | SC |   | Total |
|                       |   | (in thousands) |
| Goodwill at March 31, 2016 |   | $ | 1,880,304 |  |   | $ | 870,411 |  |   | $ | 542,584 |  |   | $ | 131,130 |  |   | $ | 1,019,960 |  |   | $ | 4,444,389 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|        |
|--------|
|        |  |  |  |  |
|   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |
|   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |
|   |   |   |   |   |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |
|                                           |   | March 31, 2016 |   | December 31, 2015 |
|                                           |   | (in thousands) |
| Accrued interest                               |   | $ | 139,001 |  |   | $ | 126,771 |  |
| Accrued federal/foreign/state tax credits      |   | 188,131 |  |   | 189,684 |  |
| Deposits payable                               |   | 106,485 |  |   | 105,530 |  |
| Expense accruals                               |   | 478,238 |  |   | 452,509 |  |
| Payroll/tax benefits payable                   |   | 250,232 |  |   | 337,502 |  |
| Accounts payable                               |   | 104,855 |  |   | 154,400 |  |
| Miscellaneous payable                          |   | 249,257 |  |   | 299,890 |  |
|     Total accrued expenses |   | $ | 1,516,199 |  |   | $ | 1,666,286 |  |

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |
|                                            |   | March 31, 2016 |   | December 31, 2015 |
|                                            |   | (in thousands) |
| Total derivative activity                       |   | $ | 498,640 |  |   | $ | 320,139 |  |
| Official checks and money orders in process     |   | 122,159 |  |   | 105,102 |  |
| Deferred gains/credits                          |   | 25,083 |  |   | 25,683 |  |
| Reserve for unfunded commitments                |   | 172,007 |  |   | 147,456 |  |
|     Total other liabilities |   | $ | 817,889 |  |  | $ | 598,380 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |
|                               |   | BANK |
|                               |   |   |   |   |   |   |
|                               |   | March 31, 2016 |   | Well-capitalized Requirement(1) |   | Minimum Requirement(1) |
| Common equity tier 1 capital ratio |   | 13.92 | % |   | 6.50 | % |   | 4.50 | % |
| Tier 1 capital ratio               |   | 13.92 | % |   | 8.00 | % |   | 6.00 | % |
| Total capital ratio                |   | 15.36 | % |   | 10.00 | % |   | 8.00 | % |
| Leverage ratio                     |   | 11.27 | % |   | 5.00 | % |   | 4.00 | % |

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |
|                               |   | SHUSA |
|                               |   |   |   |   |   |   |
|                               |   | March 31, 2016 |   | Well-capitalized Requirement(2) |   | Minimum Requirement(2) |
| Common equity tier 1 capital ratio |   | 11.88 | % |   | 6.50 | % |   | 4.50 | % |
| Tier 1 capital ratio               |   | 13.44 | % |   | 8.00 | % |   | 6.00 | % |
| Total capital ratio                |   | 15.33 | % |   | 10.00 | % |   | 8.00 | % |
| Leverage ratio                     |   | 11.54 | % |   | 5.00 | % |   | 4.00 | % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|         |                                                              |
|---------|--------------------------------------------------------------|
| • | a securitization on its SDART platform for $1.0 billion; |

|         |                                                                                |
|---------|--------------------------------------------------------------------------------|
| • | a securitization on its deeper subprime DRIVE platform for $639.0 million; |

|         |                                                                      |
|---------|----------------------------------------------------------------------|
| • | a private amortizing lease facility totaling $500.0 million; and |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | a top-up of a private amortizing lease facility totaling $500.0 million. |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |
|                                      |   | Three-Month Period Ended March 31, |
|                                      |   | 2016 |   | 2015 |
|                                      |   | (in thousands) |
| Net cash provided by operating activities |   | $ | 749,694 |  |   | $ | 1,721,364 |  |
| Net cash (used in) investing activities   |   | (2,183,881 | ) |   | (7,092,547 | ) |
| Net cash provided by financing activities |   | 3,045,593 |  |   | 5,054,907 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | Payments Due by Period |
|                                                                 | Total |   | Less than1 year |   | Over 1 yrto 3 yrs |   | Over 3 yrsto 5 yrs |   | Over5 yrs |
|                                                                 | (in thousands) |
| FHLB advances (1)                                                    | $ | 12,521,631 |  |   | $ | 6,853,103 |  |   | $ | 5,115,507 |  |   | $ | 553,021 |  |   | $ | — |  |
| Notes payable - revolving facilities                                 | 10,864,269 |  |   | 3,850,238 |  |   | 7,014,031 |  |   | — |  |   | — |  |
| Notes payable - secured structured financings                        | 20,400,011 |  |   | 634,322 |  |   | 5,115,307 |  |   | 10,291,645 |  |   | 4,358,737 |  |
| Other debt obligations (1) (2)                                       | 8,539,799 |  |   | 1,365,020 |  |   | 4,432,010 |  |   | 1,413,434 |  |   | 1,329,335 |  |
| Junior subordinated debentures due to capital trust entities (1) (2) | 441,567 |  |   | 10,133 |  |   | 20,267 |  |   | 20,267 |  |   | 390,900 |  |
| Certificates of deposit (1)                                          | 9,585,371 |  |   | 7,086,477 |  |   | 1,909,592 |  |   | 589,302 |  |   | — |  |
| Non-qualified pension and post-retirement benefits                   | 70,445 |  |   | 6,881 |  |   | 13,906 |  |   | 14,159 |  |   | 35,499 |  |
| Operating leases(3)                                                  | 707,916 |  |   | 119,340 |  |   | 200,897 |  |   | 143,395 |  |   | 244,284 |  |
| Total contractual cash obligations                                   | $ | 63,131,009 |  |   | $ | 19,925,514 |  |   | $ | 23,821,517 |  |   | $ | 13,025,223 |  |   | $ | 6,358,755 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Includes interest on both fixed and variable rate obligations. The interest associated with variable rate obligations is based on interest rates in effect at March 31, 2016. The contractual amounts to be paid on variable rate obligations are affected by changes in market interest rates. Future changes in market interest rates could materially affect the contractual amounts to be paid. |

|     |                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------|
| (2) | Includes all carrying value adjustments, such as unamortized premiums and discounts and hedge basis adjustments. |

|     |                                                   |
|-----|---------------------------------------------------|
| (3) | Does not include future expected sublease income. |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |
| If interest rates changed in parallel by theamounts below at March 31, 2016 |   | The following estimated percentage increase/(decrease) to net interest income would result |
| Down 100 basis points                                                       |   | (1.84 | )% |
| Up 100 basis points                                                         |   | 2.03 |  % |
| Up 200 basis points                                                         |   | 3.38 |  % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |
|                                     |   | The following estimated percentageincrease/(decrease) to MVE would result |
| If interest rates changed in parallel by |   | March 31, 2016 |   | December 31, 2015 |
| Down 100 basis points                    |   | (4.55 | )% |   | (3.44 | )% |
| Up 100 basis points                      |   | 1.76 |  % |   | 0.73 |  % |
| Up 200 basis points                      |   | 1.79 |  % |   | 0.23 |  % |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|               |
|---------------|
|               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|          |   | March 31, 2016 |
| Country       |   |  Covered Bonds |   | Financial Institution Bonds |   | Non-Financial Institutions Bonds |   | Total |
|          |   | (in thousands) |
| France        |   | $ | — |  |   | $ | 6,000 |  |   | $ | 4,967 |  |   | $ | 10,967 |  |
| Germany       |   | — |  |   | — |  |   | 137,567 |  |   | 137,567 |  |
| Great Britain |   | — |  |   | 69,098 |  |   | 248,588 |  |   | 317,686 |  |
| Italy         |   | — |  |   | — |  |   | 56,381 |  |   | 56,381 |  |
| Netherlands   |   | — |  |   | 45,968 |  |   | 5,881 |  |   | 51,849 |  |
| Norway        |   | — |  |   | — |  |   | 7,997 |  |   | 7,997 |  |
| Portugal      |   | — |  |   | — |  |   | 40,663 |  |   | 40,663 |  |
| Spain         |   | 73,179 |  |   | 7,000 |  |   | 18,210 |  |   | 98,389 |  |
| Sweden        |   | — |  |   | 51,954 |  |   | — |  |   | 51,954 |  |
| Switzerland   |   | — |  |   | 4,998 |  |   | — |  |   | 4,998 |  |
|          |   | $ | 73,179 |  |   | $ | 185,018 |  |   | $ | 520,254 |  |   | $ | 778,451 |  |

|               |
|---------------|
|               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|          |   | December 31, 2015 |
| Country       |   |  Covered Bonds |   | Financial Institution Bonds |   | Non-Financial Institutions Bonds |   | Total |
|          |   | (in thousands) |
| France        |   | $ | — |  |   | $ | 6,000 |  |   | $ | 4,964 |  |   | $ | 10,964 |  |
| Germany       |   | — |  |   | — |  |   | 137,904 |  |   | 137,904 |  |
| Great Britain |   | — |  |   | 80,106 |  |   | 255,018 |  |   | 335,124 |  |
| Italy         |   | — |  |   | — |  |   | 56,670 |  |   | 56,670 |  |
| Netherlands   |   | — |  |   | 45,966 |  |   | — |  |   | 45,966 |  |
| Norway        |   | — |  |   | — |  |   | 7,996 |  |   | 7,996 |  |
| Portugal      |   | — |  |   | — |  |   | 40,749 |  |   | 40,749 |  |
| Spain         |   | 93,325 |  |   | 6,999 |  |   | 44,231 |  |   | 144,555 |  |
| Sweden        |   | — |  |   | 51,950 |  |   | — |  |   | 51,950 |  |
| Switzerland   |   | — |  |   | 4,998 |  |   | — |  |   | 4,998 |  |
|          |   | $ | 93,325 |  |   | $ | 196,019 |  |   | $ | 547,532 |  |   | $ | 836,876 |  |

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

Table of Contents

|              |
|--------------|
|              |  |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk |

|              |
|--------------|
|              |  |
| Item 4. | Controls and Procedures |

|         |                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Management did not effectively execute a strategy to hire and retain a sufficient complement of personnel with an appropriate level of knowledge, experience, and training in certain areas important to financial reporting. |

|         |                                                                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The tone at the top was insufficient to ensure there were adequate mechanisms and oversight to ensure accountability for the performance of internal control over financial reporting responsibilities and to ensure corrective actions were appropriately prioritized and implemented in a timely manner. |

|         |                                                                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | There was not adequate management oversight of accounting and financial reporting activities in implementing certain accounting practices to conform to the Company’s policies and GAAP. |

|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | There was not an adequate assessment of changes in risks by management that could significantly impact internal control over financial reporting or an adequate determination and prioritization of how those risks should be managed. |

|         |                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------|
| • | There was not adequate management oversight and identification of models material to financial reporting. |

|         |                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | There were insufficiently documented Company accounting policies and insufficiently detailed Company procedures to put policies into effective action. |

----

Table of Contents

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | There was a lack of appropriate tone at the top in establishing an effective control owner of the risk and controls self-assessment process, which contributed to a lack of clarity for ownership of risk assessments and control design and effectiveness. There was insufficient governance, oversight and monitoring of the credit loss allowance and accretion processes, and a lack of defined roles and responsibilities in monitoring functions. |

|         |                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Review controls of the TDR footnote disclosures and supporting information did not effectively identify that parameters used to query the loan data were incorrect. |

|         |                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A review of inputs used to estimate the expected and present value of cash flows of loans modified in TDRs did not identify errors in types of cash flows included and in the assumed timing and amount of defaults and did not identify that the discount rate was incorrect. |

----

Table of Contents

|         |                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Review controls over data, inputs and assumptions in models used for estimating credit loss allowance and related model changes were not effective and management did not adequately challenge significant assumptions. |

|         |                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------|
| • | Review and approval controls over the development of new models to estimate credit loss allowance and related model changes were ineffective. |

|         |                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Adequate and comprehensive performance monitoring over related model output results was not performed and we did not maintain adequate model documentation. |

|         |                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Review controls over data, inputs and assumptions in models used for estimating accretion and related model changes were not effective and management did not adequately challenge significant assumptions. |

|         |                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------|
| • | Review and approval controls over the development of new models to estimate accretion and related model changes were ineffective. |

|         |                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Adequate and comprehensive performance monitoring over related model output results was not performed and we did not maintain adequate model documentation. |

----

Table of Contents

----

Table of Contents

|         |                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company and SC have begun efforts to hire additional personnel with the requisite skillsets in certain areas important to financial reporting. Three key positions at SC, Head of Internal Control, Director of SEC Reporting and a Vice President of Accounting Policy, were recently filled by SC. A number of positions also were added and filled in the credit loss allowance area. |

|         |                                                                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company has established regular working group meetings, with appropriate oversight by management of both SC and the Company to strengthen accountability for performance of internal control over financial reporting responsibilities and prioritization of corrective actions. |

|         |                                                                                                                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In conjunction with previously developing new credit loss allowance models and refining our loss forecasting methodology to be in compliance with GAAP, the Company also is enhancing its accounting documentation relating to credit loss allowance, to demonstrate how the Company’s policies and procedures align with GAAP and produce a repeatable process. |

|         |                                                                                                                                                                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Management is also in the process of performing a comprehensive review of current accounting practices to ensure compliance with the Company’s accounting policies and GAAP, and to ensure sufficient specificity in procedures. Additionally, management will implement a recurring review by a team of qualified individuals. |

|         |                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Processes to identify, track, and report TDRs, that take into account changes to TDRs and new modification types, were enhanced and are being documented. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A formal and comprehensive ongoing performance monitoring plan related to credit loss allowance with specific details relating to monitoring activities performed to allow for repeatable and consistent testing is being developed. This plan is intended to be consistent with the Company’s overarching model risk management policy and will provide a consistent methodology for measuring performance across all models. |

|         |                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Management is ensuring that all models significant to financial reporting are subject to appropriate validation, documentation and procedures. |

|         |                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Model documentation is being developed, or in some cases enhanced to address model documentation gaps, related to credit loss allowance and accretion models. |

----

Table of Contents

|         |                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A framework and documentation are being developed to outline model security attributes/procedures for models related to credit loss allowance and models are being placed in an environment where access is restricted to authorized personnel and an audit trail is retained. |

|         |                                                                                  |
|---------|----------------------------------------------------------------------------------|
| • | The Company is enhancing its Material Risk Program and Assessment documentation. |

|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company is enhancing the internal documentation requirements and procedures to be performed related to goodwill impairment testing and the procedures to be performed over the work prepared by third-party valuation specialists. |

|         |                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company has designed and implemented additional controls (including additional reviews at a detailed level) over the preparation and review of the SCF and Notes to the Consolidated Financial Statements. |

|         |                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company is enhancing the internal documentation requirements and procedures to be performed in the implementation of new accounting models used by the Company for financial reporting purposes. |

|         |                                                                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Company has begun efforts to enhance its oversight of subsidiaries by establishing additional procedures to identify high risk, unusual, or material transactions to ensure that there are sufficient activities performed to ensure accurate and timely financial reporting. |

----

Table of Contents

|             |
|-------------|
|             |  |
| Item 1 | — Legal Proceedings |

|              |
|--------------|
|              |  |
| Item 1A | — Risk Factors |

|             |
|-------------|
|             |  |
| Item 2 | — Unregistered Sales of Equity Securities and Use of Proceeds. |

|             |
|-------------|
|             |  |
| Item 3 | — Defaults upon Senior Securities |

|             |
|-------------|
|             |  |
| Item 4 | — Mine Safety Disclosures |

|             |
|-------------|
|             |  |
| Item 5 | — Other Information |

----

Table of Contents

|             |
|-------------|
|             |  |
| Item 6 | — Exhibits |

|        |
|--------|
|        |  |
| (2.1)  | Transaction Agreement, dated as of October 13, 2008, between Santander Holdings USA, Inc. and Banco Santander, S.A. (Incorporated by reference to Exhibit 2.1 to SHUSA's Current Report on Form 8-K filed October 16, 2008) (Commission File Number 333-172807) |
|   |   |
| (3.1)  | Amended and Restated Articles of Incorporation of Santander Holdings USA, Inc. (Incorporated by reference to Exhibit 3.1 to Santander Holdings USA, Inc.’s Current Report on Form 8-K filed January 30, 2009) (Commission File Number 333-172807) |
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| (3.2)  | Articles of Amendment to the Articles of Incorporation of Santander Holdings USA, Inc. (Incorporated by reference to Exhibit 3.1 to Santander Holdings USA, Inc.'s Current Report on Form 8-K filed March 27, 2009) (Commission File Number 333-172807) |
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| (3.3)  | Articles of Amendment to the Articles of Incorporation of Santander Holdings USA, Inc. (Incorporated by reference to Exhibit 3.1 to Santander Holdings USA, Inc.’s Current Report on Form 8-K filed February 5, 2010) (Commission File Number 333-172807) |
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| (3.4)  | Articles of Amendment to the Articles of Incorporation of Santander Holdings USA, Inc. (Incorporated by reference to Exhibit 3.2 to Santander Holdings USA, Inc.’s Current Report on Form 8-K filed June 21, 2011) (Commission File Number 333-172807) |
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| (3.5)  | Amended and Restated Bylaws of Santander Holdings USA, Inc. (Incorporated by reference to Exhibit 3.1 of Santander Holdings USA, Inc.’s Current Report on Form 8-K filed January 30, 2012) (Commission File Number 333-172807) |
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| (4.1)  | Santander Holdings USA, Inc. has certain debt obligations outstanding. None of the instruments evidencing such debt authorizes an amount of securities in excess of 10% of the total assets of Santander Holdings USA, Inc. and its subsidiaries on a consolidated basis; therefore, copies of such instruments are not included as exhibits to this Quarterly Report on Form 10-Q. Santander Holdings USA, Inc. agrees to furnish copies to the SEC on request. |
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| (10.1) | Underwriting Agreement dated January 22, 2014 among Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the underwriters listed therein, Santander Consumer USA Holdings Inc., Santander Consumer Illinois, Santander Holdings USA, Inc. and the other Selling Stockholders listed in Schedule II thereto (Incorporated by reference to Exhibit 1.1 to the Company's Current Report on Form 8-K filed January 28, 2014 (Commission File Number 001-16581) |
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| (10.2) | Shareholders Agreement dated January 28, 2014 among the Company, Santander Consumer USA Holdings Inc., Sponsor Holdings, DDFS, Thomas G. Dundon and Banco Santander, S.A. (Incorporated by reference to Exhibit 1.2 to Santander Holdings USA, Inc.’s Current Report on Form 8-K filed January 28, 2014 (Commission File Number 001-16581) |
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| (10.3) | Written Agreement, dated as of September 15, 2014, by and between Santander Holdings USA, Inc. and the Federal Reserve Bank of Boston (Incorporated by reference to Exhibit 99.1 of Santander Holdings USA, Inc.’s Current Report on Form 8-K filed September 18, 2014 (Commission File Number 001-16581) |
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| (10.4) | Written Agreement, dated as of July 2, 2015, by and between Santander Holdings USA, Inc. and the Federal Reserve Bank of Boston (Incorporated by reference to Exhibit 99.1 of Santander Holdings USA, Inc.’s Current Report on Form 8-K filed July 7, 2015 (Commission File Number 001-16581) |
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| (31.1) | Chief Executive Officer certification pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herewith) |
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| (31.2) | Chief Financial Officer certification pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herewith) |
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| (32.1) | Chief Executive Officer certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Filed herewith) |
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| (32.2) | Chief Financial Officer certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Filed herewith) |
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| (101)  | Interactive Data File (XBRL). (Filed herewith) |

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Table of Contents

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|   |   |   | SANTANDER HOLDINGS USA, INC.(Registrant) |
|   |   |   |   |
| Date:  | December 7, 2016 |   | /s/ Scott E. Powell |
|   |   |   | Scott E. Powell |
|   |   |   | President and Chief Executive Officer(Authorized Officer)  |
|   |   |   |   |
|   |   |   |   |
| Date:  | December 7, 2016 |   | /s/ Madhukar Dayal |
|   |   |   | Madhukar Dayal |
|   |   |   | Chief Financial Officer and Senior Executive Vice President |