Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)Quarterly financial information for 2022 and 2021 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
2022
Total interest income	$	835	$	707	$	608	$	555
Net interest income	720		663		593		544
Provision for credit losses	43		71		41		(33)
Noninterest income	153		165		172		142
Noninterest expense	471		479		464		464
Income before income taxes	359		278		260		255
Net income	284		217		203		203
Preferred stock dividends	7		6		8		8
Net earnings applicable to common shareholders	277		211		195		195
Net earnings per common share:
Basic	1.84		1.40		1.29		1.27
Diluted	1.84		1.40		1.29		1.27
2021
Total 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