Schwab Charles Corp 8-K, filed Oct 15, 2026

Schwab Charles Corp (SCHW)

8-K 2026-10-15 For: 2026-10-15

Added on October 21, 2026

About this 8-K

Schwab Charles Corp filed this 8-K on October 15, 2026.

The Charles Schwab Corporation reported record third-quarter core net new assets of $190.4 billion, net revenues of $7.2 billion and GAAP diluted EPS of $1.62 for the quarter ended September 30, 2026; revenue rose 17% and EPS rose 29% year-over-year. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Delaware									94-3025021
(State or other jurisdiction of incorporation or organization)									(I.R.S. Employer Identification No.)



☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock – $.01 par value per share	SCHW	New York Stock Exchange
		Texas Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D	SCHW PrD	New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J	SCHW PrJ	New York Stock Exchange



(d)						Exhibits

Exhibit No.						Description
99.1						Press Release dated Oct o ber 15 , 2026
104						Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.



			THE CHARLES SCHWAB CORPORATION


Date:	October 15, 2026	By:	/s/ Michael Verdeschi
			Michael Verdeschi
			Managing Director and Chief Financial Officer


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


			SCHWAB DELIVERS RECORD NET NEW ASSETS & EARNINGS Record Quarterly Core Net New Assets of $190.4 Billion, Up 38% Year-Over-Year 3Q Net Revenues Reached a Record $7.2 Billion, Up 17% Year-Over-Year Record GAAP Earnings Per Share of $1.62; $1.69 Adjusted (1) – Up 29% versus 3Q25


Client Driven Growth	$190.4B 3Q26 Core Net New Assets	“During the third quarter, clients opened 1.2 million new brokerage accounts and entrusted Schwab with $190.4 billion in core net new assets – an annualized growth rate of 5.8%. We are delivering new capabilities and solutions, while our leading value proposition continues to resonate with investors and RIAs.” President & CEO Rick Wurster

Deepen Client Relationships	55% 3Q26 Schwab Wealth AdvisoryTM Net Flows Growth vs. 3Q25	“As investing plays an increasingly central role in people’s financial lives, clients continue to turn to Schwab for our broad set of wealth, trading, and banking capabilities. During the quarter, Pledged Asset LineTM balances grew to $37.3 billion, up 59% year-over-year, while net flows into Schwab Wealth AdvisoryTM increased 55%.” President & CEO Rick Wurster

Diversified Revenue Growth	17% 3Q26 Revenue Growth vs. 3Q25	“Deeper client engagement across Schwab's platform continues to broaden and strengthen our revenue model, helping our third quarter revenue increase 17% year-over-year to a record $7.2 billion.” CFO Mike Verdeschi

Strong Earnings Momentum	29% 3Q26 GAAP EPS Growth vs. 3Q25	“Our diversified business model, continued focus on meeting clients’ evolving needs, and industry leading scale combined to drive year-over-year GAAP earnings growth of 29% to a record $1.62, or $1.69 on an adjusted (1) basis.” CFO Mike Verdeschi


	Three Months Ended September 30,						%	Nine Months Ended September 30,						%
Financial Highlights	2026			2025			Change	2026			2025			Change

Net revenues (in millions)	$	7,171		$	6,135		17%	$	20,725		$	17,585		18%
Net income (in millions)
GAAP	$	2,906		$	2,358		23%	$	8,185		$	6,393		28%
Adjusted	$	3,021		$	2,456		23%	$	8,539		$	6,686		28%
Diluted earnings per common share
GAAP	$	1.62		$	1.26		29%	$	4.53		$	3.33		36%
Adjusted	$	1.69		$	1.31		29%	$	4.73		$	3.49		36%
Pre-tax profit margin
GAAP	52.7		%	49.2		%		51.3		%	47.1		%
Adjusted	54.8		%	51.3		%		53.5		%	49.3		%
Return on average common
stockholders’ equity (annualized)	25		%	21		%		24		%	20		%
Return on tangible
common equity (annualized)	44		%	38		%		42		%	37		%
Note: Items labeled “adjusted” are non-GAAP financial measures; further details are included on pages 10-12 of this release. All per-share results are rounded to the nearest cent, based on weighted-average diluted common shares outstanding.


THE CHARLES SCHWAB CORPORATION
Financial and Operating Highlights
(Unaudited)
	Q3-26 % change				2026									2025
	vs.		vs.		Third			Second			First			Fourth			Third
(In millions, except per share amounts and as noted)	Q3-25		Q2-26		Quarter			Quarter			Quarter			Quarter			Quarter
Net Revenues
Net interest revenue	14	%	4	%	$	3,476		$	3,357		$	3,144		$	3,172		$	3,050
Asset management and administration fees	14	%	5	%	1,913			1,825			1,759			1,733			1,673
Trading revenue	16	%	(5)	%	1,158			1,215			1,089			1,066			995
Bank deposit account fees	40	%	4	%	345			333			295			238			247
Other	64	%	(18)	%	279			342			195			127			170

Total net revenues	17	%	1	%	7,171			7,072			6,482			6,336			6,135
Expenses Excluding Interest
Compensation and benefits	6	%	(2)	%	1,756			1,790			1,812			1,630			1,653
Professional services	11	%	6	%	325			307			303			344			293
Occupancy and equipment	13	%	5	%	316			301			285			293			280
Advertising and market development	13	%	3	%	114			111			101			115			101
Communications	15	%	(13)	%	172			198			163			142			149
Depreciation and amortization	(8)	%	(1)	%	196			198			201			206			212
Amortization of acquired intangible assets	11	%	(1)	%	141			142			132			127			127
Regulatory fees and assessments	24	%	16	%	73			63			75			62			59
Other	25	%	3	%	301			293			222			237			240
Total expenses excluding interest	9	%	—		3,394			3,403			3,294			3,156			3,114
Income before taxes on income	25	%	3	%	3,777			3,669			3,188			3,180			3,021
Taxes on income	31	%	—		871			869			709			721			663
Net Income	23	%	4	%	2,906			2,800			2,479			2,459			2,358
Preferred stock dividends and other	17	%	(20)	%	95			119			82			92			81
Net Income Available to Common Stockholders	23	%	5	%	$	2,811		$	2,681		$	2,397		$	2,367		$	2,277
Earnings per common share:
Basic	29	%	5	%	$	1.63		$	1.55		$	1.37		$	1.34		$	1.26
Diluted	29	%	5	%	$	1.62		$	1.54		$	1.37		$	1.33		$	1.26
Dividends declared per common share	19	%	—		$	.32		$	.32		$	.32		$	.27		$	.27
Weighted-average common shares outstanding:
Basic	(4)	%	—		1,728			1,735			1,746			1,772			1,806
Diluted	(4)	%	—		1,733			1,739			1,752			1,777			1,811
Performance Measures
Pre-tax profit margin					52.7		%	51.9		%	49.2		%	50.2		%	49.2		%
Return on average common stockholders’ equity (annualized) (1)					25		%	25		%	23		%	22		%	21		%
Financial Condition (at quarter end, in billions)
Cash and cash equivalents	20	%	(10)	%	$	36.7		$	40.6		$	45.0		$	46.0		$	30.6
Cash and investments segregated	(33)	%	(4)	%	31.8			33.0			39.8			42.9			47.8
Receivables from brokers, dealers, and clearing organizations	N/M		24	%	27.2			22.0			11.8			7.2			4.7
Receivables from brokerage clients — net	37	%	4	%	128.1			122.8			106.2			104.7			93.8
Available for sale securities	(5)	%	(6)	%	59.0			62.5			61.1			62.4			62.3
Held to maturity securities	(7)	%	(3)	%	126.6			130.6			131.7			134.0			136.7
Bank loans — net	35	%	8	%	72.3			67.0			60.9			58.0			53.6
Total assets	12	%	1	%	520.7			517.3			493.3			491.0			465.3
Bank deposits	2	%	(2)	%	244.1			249.7			253.0			255.7			239.1
Payables to brokers, dealers, and clearing organizations	108	%	6	%	46.5			43.8			28.1			25.7			22.4
Payables to brokerage clients	8	%	1	%	125.2			124.0			118.0			116.3			115.4
Accrued expenses and other liabilities	18	%	7	%	13.4			12.5			12.0			12.8			11.4
Other short-term borrowings	118	%	2	%	14.2			13.9			12.5			6.9			6.5
Federal Home Loan Bank borrowings	122	%	N/M		2.0			0.5			—			1.9			0.9
Long-term debt	18	%	5	%	23.8			22.7			20.5			22.2			20.2
Total liabilities	13	%	—		469.2			467.1			444.1			441.6			415.9
Stockholders’ equity	4	%	3	%	51.4			50.1			49.2			49.4			49.4
Total liabilities and stockholders’ equity	12	%	1	%	520.7			517.3			493.3			491.0			465.3
Other
Full-time equivalent employees (at quarter end, in thousands)	4	%	1	%	33.9			33.7			33.5			33.0			32.7
Capital expenditures — purchases of equipment, office facilities, and property, net (in millions) (2)	110	%	(60)	%	$	319		$	792		$	173		$	158		$	152
Expenses excluding interest as a percentage of average client assets (annualized)					0.10		%	0.11		%	0.11		%	0.11		%	0.11		%
Clients’ Daily Average Trades (DATs) (in thousands)	44	%	(10)	%	10,687			11,920			9,899			8,274			7,421
Number of Trading Days	1	%	3	%	64.0			62.0			61.0			63.0			63.5
Revenue Per Trade (3)	(20)	%	3	%	$	1.69		$	1.64		$	1.80		$	2.05		$	2.11


	Three Months Ended September 30,												Nine Months Ended September 30,
	2026						2025						2026						2025
	Average Balance		Interest Revenue/ Expense		Average Yield/ Rate		Average Balance		Interest Revenue/ Expense		Average Yield/ Rate		Average Balance		Interest Revenue/ Expense		Average Yield/ Rate		Average Balance		Interest Revenue/ Expense		Average Yield/ Rate
Interest-earning assets
Cash and cash equivalents	$	34,525	$	317	3.59	%	$	24,298	$	264	4.26	%	$	32,577	$	883	3.58	%	$	27,571	$	897	4.29	%
Cash and investments segregated	31,251		289		3.62	%	46,046		494		4.20	%	38,795		1,060		3.60	%	44,104		1,412		4.22	%

Receivables from brokerage clients (1)	123,061		1,792		5.70	%	87,292		1,454		6.52	%	113,307		4,900		5.70	%	82,992		4,154		6.60	%
Available for sale securities (2)	65,149		379		2.31	%	69,794		360		2.05	%	65,422		1,063		2.16	%	77,324		1,198		2.06	%
Held to maturity securities (2)	128,026		553		1.72	%	137,672		587		1.70	%	130,433		1,690		1.72	%	141,032		1,811		1.71	%
Bank loans	69,526		775		4.43	%	51,849		557		4.27	%	64,249		2,095		4.35	%	48,882		1,568		4.28	%
Total interest-earning assets	451,538		4,105		3.58	%	416,951		3,716		3.51	%	444,783		11,691		3.48	%	421,905		11,040		3.46	%
Securities lending revenue			238						183						507						339
Other interest revenue (1,3)			130						57						383						121
Total interest-earning assets	$	451,538	$	4,473	3.90	%	$	416,951	$	3,956	3.74	%	$	444,783	$	12,581	3.75	%	$	421,905	$	11,500	3.61	%
Funding sources
Bank deposits	$	244,309	$	139	0.23	%	$	229,281	$	248	0.43	%	$	244,451	$	371	0.20	%	$	237,488	$	1,010	0.57	%
Payables to brokers, dealers, and clearing organizations	42,113		376		3.50	%	19,131		188		3.84	%	33,165		869		3.46	%	16,673		492		3.89	%
Payables to brokerage clients (1)	106,900		59		0.22	%	96,064		67		0.28	%	106,952		174		0.22	%	92,909		176		0.25	%
Other short-term borrowings	14,349		148		4.06	%	7,593		87		4.56	%	11,531		351		4.04	%	7,314		256		4.68	%
Federal Home Loan Bank borrowings	929		10		3.97	%	7,103		79		4.35	%	776		23		3.90	%	9,180		322		4.62	%
Long-term debt	23,572		272		4.52	%	20,204		207		4.01	%	22,206		701		4.16	%	21,029		625		3.92	%
Total interest-bearing liabilities	432,172		1,004		0.91	%	379,376		876		0.91	%	419,081		2,489		0.79	%	384,593		2,881		0.99	%
Non-interest-bearing funding sources	19,366						37,575						25,702						37,312

Other interest expense (1,3)			(7)						30						115						41
Total funding sources	$	451,538	$	997	0.86	%	$	416,951	$	906	0.86	%	$	444,783	$	2,604	0.78	%	$	421,905	$	2,922	0.92	%
Net interest revenue			$	3,476	3.04	%			$	3,050	2.88	%			$	9,977	2.97	%			$	8,578	2.69	%


Non-GAAP Adjustment or Measure	Definition	Usefulness to Investors and Uses by Management
Acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs	Schwab adjusts certain GAAP financial measures to exclude the impact of acquisition and integration-related costs incurred as a result of the Company’s acquisitions, amortization of acquired intangible assets, restructuring costs, and, where applicable, the income tax effect of these expenses. Adjustments made to exclude amortization of acquired intangible assets are reflective of all acquired intangible assets, which were recorded as part of purchase accounting. These acquired intangible assets contribute to the Company’s revenue generation. Amortization of acquired intangible assets will continue in future periods over their remaining useful lives.	We exclude acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs for the purpose of calculating certain non-GAAP measures because we believe doing so provides additional transparency of Schwab’s ongoing operations, and is useful in both evaluating the operating performance of the business and facilitating comparison of results with prior and future periods. Costs related to acquisition and integration or restructuring fluctuate based on the timing of acquisitions, integration and restructuring activities, thereby limiting comparability of results among periods, and are not representative of the costs of running the Company’s ongoing business. Amortization of acquired intangible assets is excluded because management does not believe it is indicative of the Company’s underlying operating performance.
Return on tangible common equity	Return on tangible common equity represents annualized adjusted net income available to common stockholders as a percentage of average tangible common equity. Tangible common equity represents common equity less goodwill, acquired intangible assets — net, and related deferred tax liabilities.	Acquisitions typically result in the recognition of significant amounts of goodwill and acquired intangible assets. We believe return on tangible common equity may be useful to investors as a supplemental measure to facilitate assessing capital efficiency and returns relative to the composition of Schwab’s balance sheet.
Adjusted Tier 1 Leverage Ratio	Adjusted Tier 1 Leverage Ratio represents the Tier 1 Leverage Ratio as prescribed by bank regulatory guidance for the consolidated company and for Charles Schwab Bank, SSB (CSB), adjusted to reflect the inclusion of accumulated other comprehensive income (AOCI) in the ratio.	Inclusion of the impacts of AOCI in the Company’s Tier 1 Leverage Ratio provides additional information regarding the Company’s current capital position. We believe Adjusted Tier 1 Leverage Ratio may be useful to investors as a supplemental measure of the Company’s capital levels.


	(Preliminary)
	September 30, 2026
	CSC			CSB
Tier 1 Leverage Ratio (GAAP)	8.9%			10.6%
Tier 1 Capital	$	44,782		$	26,925
Plus: AOCI adjustment	(10,389)			(9,043)
Adjusted Tier 1 Capital	34,393			17,882
Average assets with regulatory adjustments	501,735			255,095
Plus: AOCI adjustment	(9,894)			(8,746)
Adjusted average assets with regulatory adjustments	$	491,841		$	246,349
Adjusted Tier 1 Leverage Ratio (non-GAAP)	7.0		%	7.3		%



Item 2.02			Results of Operations and Financial Condition



Item 9.01			Financial Statements and Exhibits


	Three Months Ended September 30,												Nine Months Ended September 30,
	2026						2025						2026						2025
	Average Client Assets		Revenue		Average Fee		Average Client Assets		Revenue		Average Fee		Average Client Assets		Revenue		Average Fee		Average Client Assets		Revenue		Average Fee
Schwab money market funds	$	699,067	$	481	0.27	%	$	663,218	$	458	0.27	%	$	696,173	$	1,422	0.27	%	$	643,168	$	1,318	0.27	%
Schwab equity and bond funds, exchange-traded funds (ETFs), and collective trust funds (CTFs)	943,891		167		0.07	%	735,519		132		0.07	%	881,581		470		0.07	%	685,300		376		0.07	%
Mutual Fund OneSource ® and other no- transaction-fee funds (NTFs)	486,893		277		0.23	%	443,660		259		0.23	%	479,690		812		0.23	%	384,614		699		0.24	%
Other third-party mutual funds, ETFs, and alternatives (1)	696,598		126		0.07	%	639,677		112		0.07	%	680,066		358		0.07	%	637,610		344		0.07	%
Total mutual funds, ETFs, CTFs, and alternatives (1,2)	$	2,826,449	$	1,051	0.15	%	$	2,482,074	$	961	0.15	%	$	2,737,510	$	3,062	0.15	%	$	2,350,692	$	2,737	0.16	%
Managed investing solutions (2)
Fee-based	$	801,949	$	761	0.38	%	$	654,220	$	619	0.38	%	$	764,516	$	2,142	0.37	%	$	613,302	$	1,777	0.39	%
Non-fee-based	165,151		—		—		127,592		—		—		156,678		—		—		122,920		—		—
Total managed investing solutions	$	967,100	$	761	0.31	%	$	781,812	$	619	0.31	%	$	921,194	$	2,142	0.31	%	$	736,222	$	1,777	0.32	%
Other balance-based fees (1,3)	1,020,380		70		0.03	%	900,385		66		0.03	%	991,943		209		0.03	%	849,876		191		0.03	%
Other (4)			31						27						84						68
Total asset management and administration fees			$	1,913					$	1,673					$	5,497					$	4,773


	Q3-26 % Change				2026						2025
	vs.		vs.		Third		Second		First		Fourth		Third
(In billions, at quarter end, except as noted)	Q3-25		Q2-26		Quarter		Quarter		Quarter		Quarter		Quarter
Assets in client accounts
Schwab One®, certain cash equivalents, and bank deposits	20	%	3	%	$	428.5	$	415.4	$	390.5	$	379.5	$	357.1
Bank deposit account balances	(13)	%	(4)	%	68.0		70.6		73.5		76.2		78.5
Proprietary mutual funds (Schwab Funds® and Laudus Funds®) and CTFs
Money market funds	5	%	1	%	698.7		690.5		700.8		693.8		666.4
Equity and bond funds and CTFs (1)	17	%	2	%	316.0		311.2		271.8		277.4		269.7
Total proprietary mutual funds and CTFs	8	%	1	%	1,014.7		1,001.7		972.6		971.2		936.1
Mutual Fund Marketplace® (2)
Mutual Fund OneSource® and other NTF funds	—		(3)	%	472.9		485.7		443.3		454.2		473.5
Mutual fund clearing services	2	%	(2)	%	327.3		334.3		311.1		327.7		320.2
Other third-party mutual funds	9	%	(1)	%	1,350.8		1,366.0		1,263.7		1,274.3		1,237.2
Total Mutual Fund Marketplace	6	%	(2)	%	2,151.0		2,186.0		2,018.1		2,056.2		2,030.9
Total mutual fund assets	7	%	(1)	%	3,165.7		3,187.7		2,990.7		3,027.4		2,967.0
Exchange-traded funds
Proprietary ETFs (1)	27	%	4	%	605.1		583.7		512.6		495.3		476.0
Other third-party ETFs	27	%	3	%	3,046.7		2,959.7		2,579.8		2,527.5		2,395.7
Total ETF assets	27	%	3	%	3,651.8		3,543.4		3,092.4		3,022.8		2,871.7
Equity and other securities	16	%	3	%	5,383.2		5,228.4		4,566.9		4,722.6		4,624.7
Fixed income securities	4	%	2	%	823.9		804.5		780.6		786.8		792.1
Margin loans outstanding	93	%	14	%	(187.9)		(165.1)		(126.7)		(112.3)		(97.2)
Total client assets	15	%	2	%	$	13,333.2	$	13,084.9	$	11,767.9	$	11,903.0	$	11,593.9
Client assets by business
Investor Services (3)	14	%	2	%	$	7,487.3	$	7,343.0	$	6,566.4	$	6,707.5	$	6,577.2
Advisor Services	17	%	2	%	5,845.9		5,741.9		5,201.5		5,195.5		5,016.7
Total client assets	15	%	2	%	$	13,333.2	$	13,084.9	$	11,767.9	$	11,903.0	$	11,593.9
Net growth in assets in client accounts (for the quarter ended)
Net new assets by business
Investor Services (3)	37	%	88	%	$	72.3	$	38.5	$	54.1	$	60.4	$	52.7
Advisor Services	47	%	50	%	120.1		80.2		85.8		97.8		81.7
Total net new assets	43	%	62	%	$	192.4	$	118.7	$	139.9	$	158.2	$	134.4
Net market gains (losses)					55.9		1,198.3		(275.0)		150.9		702.2
Net growth (decline)					$	248.3	$	1,317.0	$	(135.1)	$	309.1	$	836.6
New brokerage accounts (in thousands, for the quarter ended)	9	%	(10)	%	1,243		1,388		1,299		1,268		1,143
Client accounts (in thousands)
Active brokerage accounts	6	%	1	%	40,260		39,802		39,099		38,506		37,963
Banking accounts	13	%	3	%	2,425		2,352		2,281		2,214		2,150