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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest Income    
Interest and fees on loans and leases $ 1,030 $ 1,235
Interest on securities 264 283
Interest on other short-term investments 8 7
Total interest income 1,302 1,525
Interest Expense    
Interest on deposits 21 166
Interest on federal funds purchased 0 2
Interest on other short-term borrowings 1 6
Interest on long-term debt 104 122
Total interest expense 126 296
Net Interest Income 1,176 1,229
(Benefit from) provision for credit losses (173) 640
Net Interest Income After (Benefit from) Provision for Credit Losses 1,349 589
Noninterest Income    
Commercial banking revenue 153 124
Service charges on deposits 144 148
Wealth and asset management revenue 143 134
Card and processing revenue 94 86
Leasing business revenue 87 73
Mortgage banking net revenue 85 120
Other noninterest income 42 7
Securities gains (losses), net 3 (24)
Securities (losses) gains, net – non-qualifying hedges on mortgage servicing rights (2) 3
Total noninterest income 749 671
Noninterest Expense    
Compensation and benefits 706 647
Technology and communications 93 93
Net occupancy expense 79 82
Leasing business expense 35 35
Equipment expense 34 32
Card and processing expense 30 31
Marketing expense 23 31
Other noninterest expense 215 249
Total noninterest expense 1,215 1,200
Income Before Income Taxes 883 60
Applicable income tax expense 189 14
Net Income 694 46
Dividends on preferred stock 20 17
Net Income Available to Common Shareholders $ 674 $ 29
Shares Disclosures    
Earnings per share - basic (in dollars per share) $ 0.94 $ 0.04
Earnings per share - diluted (in dollars per share) $ 0.93 $ 0.04
Average common shares outstanding - basic (in shares) 714,432,813 713,555,693
Average common shares outstanding - diluted (in shares) 723,425,111 720,362,697