Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Statements of Income (Parent Company Only)

Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)	2020		2019	2018
Income
Dividends from consolidated nonbank subsidiaries(a)	$	1,285	2,155	1,890
Securities gains, net	1		2	—
Interest on loans to subsidiaries	17		24	24
Total income	1,303		2,181	1,914
Expenses
Interest	266		267	211
Other	26		65	34
Total expenses	292		332	245
Income Before Income Taxes and Change in Undistributed Earnings of Subsidiaries	1,011		1,849	1,669
Applicable income tax benefit	(65)		(69)	(50)
Income Before Change in Undistributed Earnings of Subsidiaries	1,076		1,918	1,719
Equity in undistributed earnings	351		594	474
Net Income Attributable to Bancorp	$	1,427	2,512	2,193
Other Comprehensive Income	—		—	—
Comprehensive Income Attributable to Bancorp	$	1,427	2,512	2,193

(a)The Bancorp’s indirect banking subsidiary paid dividends to the Bancorp’s direct nonbank subsidiary holding company of $1.3 billion, $2.0 billion and $1.9 billion for the years ended December 31, 2020, 2019 and 2018, respectively. Additionally, a $200 million dividend was paid by MB Financial, Inc. to the Bancorp during the year ended December 31, 2019.

Condensed Balance Sheets (Parent Company Only)

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)	2020		2019
Assets
Cash	$	120	118
Other short-term investments	5,578		4,723
Equity securities	49		49
Loans to nonbank subsidiaries	350		444
Investment in nonbank subsidiaries	25,214		23,779
Goodwill	80		80
Other assets	479		379
Total Assets	$	31,870	29,572
Liabilities
Other short-term borrowings	$	450	359
Accrued expenses and other liabilities	548		497
Long-term debt (external)	7,761		7,513
Total Liabilities	$	8,759	8,369
Equity
Common stock	$	2,051	2,051
Preferred stock	2,116		1,770
Capital surplus	3,635		3,599
Retained earnings	18,384		18,315
Accumulated other comprehensive income	2,601		1,192
Treasury stock	(5,676)		(5,724)
Total Equity	23,111		21,203
Total Liabilities and Equity	$	31,870	29,572

Condensed Statements of Cash Flows (Parent Company Only)

Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions)	2020		2019	2018
Operating Activities
Net income	$	1,427	2,512	2,193
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion	7		7	4
Provision for (benefit from) deferred income taxes	—		(11)	3
Securities gains, net	(1)		(2)	—
Equity in undistributed earnings	(351)		(594)	(474)
Net change in:
Equity securities	—		(49)	—
Other assets	(1)		(80)	61
Accrued expenses and other liabilities	—		127	(120)
Net Cash Provided by Operating Activities	1,081		1,910	1,667
Investing Activities
Net change in:
Other short-term investments	(855)		(1,081)	(149)
Loans to nonbank subsidiaries	94		127	272
Net cash paid on acquisition	—		(469)	—
Net Cash (Used in) Provided by Investing Activities	(761)		(1,423)	123
Financing Activities
Net change in other short-term borrowings	91		106	(62)
Dividends paid on common and preferred stock	(858)		(753)	(565)
Proceeds from issuance of long-term debt	1,243		2,235	895
Repayment of long-term debt	(1,100)		(500)	(500)
Issuance of preferred stock	346		242	—
Repurchase of treasury stock and related forward contract	—		(1,763)	(1,453)
Other, net	(40)		(56)	(65)
Net Cash Used in Financing Activities	(318)		(489)	(1,750)
Increase (Decrease) in Cash	2		(2)	40
Cash at Beginning of Period	118		120	80
Cash at End of Period	$	120	118	120