Schwab Charles Corp

Company facts

Industry

Security Brokers, Dealers & Flotation Companies

Headquarters

Westlake, Texas

Most recent report

8-K, filed Aug 12, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 316709

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 13 sections worth reading, with 0 positive, 14 notable, and 3 negative flags.

• Management's Discussion (Item 2)

  Strong results (net income +32%) plus key events: crypto launch, Forge acquisition, capital actions.
  Notable

  • Adjusted Tier 1 Leverage Ratio at 6.8%, down from 7.1% YE 2025, at the low end of 6.75%-7.00% target.
  • Issued $1.5B Series L preferred stock and redeemed $2.1B Series I preferred stock in Q2 2026.
  • Common stock repurchases totaled $1.0B in Q2 and $3.4B H1 2026; $11.1B remaining on $20B authorization.
  • Forge acquisition closed Mar 2, 2026 for $636M; integration costs $28M in Q2, $39M H1 2026.
  • Spot crypto trading (bitcoin, ether) started phased rollout in May 2026, via CSPB and sub-custodian Paxos.
  • Margin loans $122.8B at June 30, 2026, up 48% YoY and 17% from Dec 31, 2025. Bank loans $67.0B, up 33% YoY.
  • Full-year 2026 expense growth expected at 10-11%, up from prior guidance, driven by volume and Forge costs.
  • Capital expenditures surged to $792M in Q2 2026 from $136M due to a $633M multi-year software license.
  • Net interest revenue simulation changed to dynamically-sized balance sheet, shrinking rate sensitivity range.
  • CS&Co commercial paper program used: $4.9B outstanding at June 30, 2026, up from zero at Mar 31, 2026.
  • Foreign exposure to non-sovereign entities fell to $8.5B at June 30 from $12.7B at Mar 31 (excluding margins).

• Financial Statements (Item 1)

  Full financials and notes with key metrics and acquisition details.
  Notable

  • Acquired Forge for $636M cash, recording $339M goodwill and $320M intangibles.
  Negative

  • FHLB borrowing capacity dropped to $32.8B from $74.2B at year-end, reducing liquidity cushion.

• Risk Factors (Item 1A)

  New crypto risk factor with sub-custodian reliance and insolvency exposure.
  Notable

  • Clients' crypto is not protected by FDIC or SIPC insurance.
  • Bankruptcy of sub-custodian could delay or prevent clients from accessing crypto.
  Negative

  • Sub-custodian may lack funds to cover a large crypto loss, leaving Schwab exposed.
  • Schwab could owe more than the sub-custodian can repay if crypto is lost.

What changed: Jun 2026 vs. Mar 2026

About 9% of SCHW's Jun 2026 10-Q is new information. 64 paragraphs were added, 230 changed, and 58 removed. Below are the most important lines SECSift identified.

• Item 2 113
• Item 1 110
• Item 1A 16
• Item 4 2
• Item 5 1
• Item 6 1