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Business Segment Information (Tables)
 3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Business Segment Financial Results
Business segment financial results are as follows:
 
Business
Bank
 
Retail
Bank
 
Wealth Management
 
Finance
 
Other
 
Total
(dollar amounts in millions)
 
 
 
 
 
Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
Earnings summary:
 
 
 
 
 
 
 
 
 
 
 
Net interest income (expense)
$
412

 
$
146

 
$
47

 
$
(15
)
 
$
16

 
$
606

Provision for credit losses
(6
)
 
(4
)
 
(5
)
 
—

 
2

 
(13
)
Noninterest income
136

 
31

 
64

 
4

 
3

 
238

Noninterest expenses
198

 
145

 
72

 
—

 
18

 
433

Provision (benefit) for income taxes
82

 
8

 
11

 
(4
)
 
(12
)
(a)
85

Net income (loss)
$
274

 
$
28

 
$
33

 
$
(7
)
 
$
11

 
$
339

Net credit-related charge-offs (recoveries)
$
12

 
$
—

 
$
(1
)
 
$
—

 
$
—

 
$
11

 
 
 
 
 
 
 
 
 
 
 
 
Selected average balances:
 
 
 
 
 
 
 
 
 
 
 
Assets
$
43,909

 
$
2,812

 
$
5,174

 
$
13,911

 
$
3,965

 
$
69,771

Loans
42,538

 
2,103

 
5,036

 
—

 
—

 
49,677

Deposits
28,463

 
20,470

 
3,801

 
1,130

 
132

 
53,996

 
 
 
 
 
 
 
 
 
 
 
 
Statistical data:
 
 
 
 
 
 
 
 
 
 
 
Return on average assets (b)
2.53
%
 
0.54
%
 
2.67
%
 
n/m

 
n/m

 
1.97
%
Efficiency ratio (c)
36.23

 
81.12

 
64.41

 
n/m

 
n/m

 
50.81

 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Earnings summary:
 
 
 
 
 
 
 
 
 
 
 
Net interest income (expense)
$
381

 
$
127

 
$
43

 
$
(14
)
 
$
12

 
$
549

Provision for credit losses
16

 
(2
)
 
(4
)
 
—

 
2

 
12

Noninterest income
131

 
33

 
67

 
11

 
2

 
244

Noninterest expenses
213

 
148

 
72

 
(1
)
 
14

 
446

Provision (benefit) for income taxes
65

 
3

 
10

 
(3
)
 
(21
)
(a)
54

Net income
$
218

 
$
11

 
$
32

 
$
1

 
$
19

 
$
281

Net credit-related charge-offs (recoveries)
$
30

 
$
—

 
$
(2
)
 
$
—

 
$
—

 
$
28

 
 
 
 
 
 
 
 
 
 
 
 
Selected average balances:
 
 
 
 
 
 
 
 
 
 
 
Assets
$
42,706

 
$
2,632

 
$
5,373

 
$
13,779

 
$
5,836

 
$
70,326

Loans
41,102

 
2,073

 
5,246

 
—

 
—

 
48,421

Deposits
30,485

 
20,893

 
3,796

 
823

 
93

 
56,090

 
 
 
 
 
 
 
 
 
 
 
 
Statistical data:
 
 
 
 
 
 
 
 
 
 
 
Return on average assets (b)
2.07
%
 
0.20
%
 
2.42
%
 
n/m

 
n/m

 
1.62
%
Efficiency ratio (c)
41.55

 
92.16

 
65.81

 
n/m

 
n/m

 
56.33

(a)
Included discrete tax benefits of $11 million and $22 million for the three months ended March 31, 2019 and 2018, respectively.
(b)
Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(c)
Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares.
n/m – not meaningful
Market Segment Financial Results
Market segment financial results are as follows:
 
Michigan
 
California
 
Texas
 
Other
Markets
 
Finance
& Other
 
Total
(dollar amounts in millions)
 
 
 
 
 
Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
Earnings summary:
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
187

 
$
205

 
$
122

 
$
91

 
$
1

 
$
606

Provision for credit losses
5

 
(1
)
 
(11
)
 
(8
)
 
2

 
(13
)
Noninterest income
71

 
41

 
32

 
87

 
7

 
238

Noninterest expenses
140

 
100

 
84

 
91

 
18

 
433

Provision (benefit) for income taxes
26

 
37

 
19

 
19

 
(16
)
(a)
85

Net income
$
87

 
$
110

 
$
62

 
$
76

 
$
4

 
$
339

Net credit-related charge-offs (recoveries)
$
4

 
$
(3
)
 
$
13

 
$
(3
)
 
$
—

 
$
11

 
 
 
 
 
 
 
 
 
 
 
 
Selected average balances:
 
 
 
 
 
 
 
 
 
 
 
Assets
$
13,075

 
$
19,048

 
$
10,920

 
$
8,852

 
$
17,876

 
$
69,771

Loans
12,557

 
18,768

 
10,270

 
8,082

 
—

 
49,677

Deposits
19,893

 
16,245

 
8,698

 
7,898

 
1,262

 
53,996

 
 
 
 
 
 
 
 
 
 
 
 
Statistical data:
 
 
 
 
 
 
 
 
 
 
 
Return on average assets (b)
1.74
%
 
2.32
%
 
2.30
%
 
3.48
%
 
n/m

 
1.97
%
Efficiency ratio (c)
53.82

 
40.85

 
54.60

 
50.99

 
n/m

 
50.81

 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Earnings summary:
 
 
 
 
 
 
 
 
 
 
 
Net interest income (expense)
$
175

 
$
188

 
$
111

 
$
78

 
$
(3
)
 
$
549

Provision for credit losses
34

 
(2
)
 
(14
)
 
(8
)
 
2

 
12

Noninterest income
73

 
39

 
31

 
88

 
13

 
244

Noninterest expenses
144

 
106

 
92

 
91

 
13

 
446

Provision (benefit) for income taxes
17

 
32

 
15

 
15

 
(25
)
(a)
54

Net income
$
53

 
$
91

 
$
49

 
$
68

 
$
20

 
$
281

Net credit-related (recoveries) charge-offs
$
(1
)
 
$
13

 
$
5

 
$
11

 
$
—

 
$
28

 
 
 
 
 
 
 
 
 
 
 
 
Selected average balances:
 
 
 
 
 
 
 
 
 
 
 
Assets
$
13,395

 
$
18,582

 
$
10,373

 
$
8,361

 
$
19,615

 
$
70,326

Loans
12,604

 
18,347

 
9,830

 
7,640

 
—

 
48,421

Deposits
21,224

 
17,091

 
9,188

 
7,670

 
917

 
56,090

 
 
 
 
 
 
 
 
 
 
 
 
Statistical data:
 
 
 
 
 
 
 
 
 
 
 
Return on average assets (b)
0.98
%
 
1.98
%
 
1.91
%
 
3.32
%
 
n/m

 
1.62
%
Efficiency ratio (c)
57.99

 
46.82

 
64.71

 
54.98

 
n/m

 
56.33

(a)
Included discrete tax benefits of $11 million and $22 million for the three months ended March 31, 2019 and 2018, respectively.
(b)
Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(c)
Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares.
n/m – not meaningful