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Summary of Quarterly Financial Statements (Unaudited)
12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Statements (Unaudited) SUMMARY OF QUARTERLY FINANCIAL STATEMENTS (UNAUDITED)
The following quarterly information is unaudited. However, in the opinion of management, the information reflects all adjustments, which are necessary for the fair presentation of the results of operations, for the periods presented.
2020
(in millions, except per share data)Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Interest income$489 $484 $511 $609 
Interest expense20 26 40 96 
Net interest income469 458 471 513 
Provision for credit losses(17)5 138 411 
Net securities gains (losses)  1 (1)
Noninterest income excluding net securities gains (losses)265 252 246 238 
Noninterest expenses473 446 440 425 
Provision (benefit) for income taxes63 48 27 (21)
Net income (loss)215 211 113 (65)
Less:
Income allocated to participating securities1  1  
Preferred stock dividends5 8   
Net income (loss) attributable to common shares$209 $203 $112 $(65)
Earnings (loss) per common share:
Basic$1.50 $1.45 $0.81 $(0.46)
Diluted1.49 1.44 0.80 (0.46)
Comprehensive income 267 169 97 344 
2019
(in millions, except per share data)Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Interest income$659 $711 $727 $710 
Interest expense115 125 124 104 
Net interest income544 586 603 606 
Provision for credit losses35 44 (13)
Net securities gains (losses)— — (8)
Noninterest income excluding net securities gains (losses)265 256 250 246 
Noninterest expenses451 435 424 433 
Provision for income taxes82 80 87 85 
Net income269 292 298 339 
Less income allocated to participating securities
Net income attributable to common shares$267 $290 $297 $337 
Earnings per common share:
Basic$1.87 $1.98 $1.95 $2.14 
Diluted1.85 1.96 1.94 2.11 
Comprehensive income 370 338 429 435