Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)Quarterly financial information for 2021 and 2020 is presented below. Prior period amounts have been reclassified to conform with the current year presentation, where applicable. These reclassifications did not affect net income. See related discussion in Note 1.

(In millions, except per share amounts)	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
2021
Gross interest income	$	566	$	569	$	570	$	562
Net interest income	553		555		555		545
Provision for credit losses	25		(46)		(123)		(132)
Noninterest income	190		139		205		169
Noninterest expense	449		429		428		435
Income before income taxes	269		311		455		411
Net income	213		240		354		322
Preferred stock dividends	6		6		9		8
Net earnings applicable to common shareholders	207		234		345		314
Net earnings per common share:
Basic	1.34		1.45		2.08		1.90
Diluted	1.34		1.45		2.08		1.90
2020
Gross interest income	$	571	$	581	$	595	$	622
Net interest income	550		555		563		548
Provision for credit losses	(67)		55		168		258
Noninterest income	166		157		117		134
Noninterest expense	424		442		430		408
Income before income taxes	359		215		82		16
Net income	284		175		66		14
Preferred stock dividends	9		8		9		8
Net earnings applicable to common shareholders	275		167		57		6
Net earnings per common share:
Basic	1.66		1.01		0.34		0.04
Diluted	1.66		1.01		0.34		0.04