Business Segments (Tables)

3 Months Ended

Mar. 31, 2021

Results of Operations and Assets by Segment

The following tables present the results of operations and assets by business segment for the three months ended:


March 31, 2021 ($ in millions)	Commercial Banking			Branch Banking	Consumer Lending	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	365		295	128	21	367		—		1,176
(Benefit from) provision for credit losses	(76)			41	8	(1)	(145)		—		(173)
Net interest income after (benefit from) provision for credit losses	441			254	120	22	512		—		1,349
Noninterest income:
Commercial banking revenue	151			2	—	—	—		—		153
Service charges on deposits	90			54	—	—	—		—		144
Wealth and asset management revenue	1			49	—	136	—		(43)	(a)	143
Card and processing revenue	14			77	—	—	3		—		94
Leasing business revenue	87		(c)	—	—	—	—		—		87
Mortgage banking net revenue	—			2	82	1	—		—		85
Other noninterest income(b)	12			20	2	1	7		—		42
Securities gains (losses), net	6			—	—	—	(3)		—		3
Securities losses, net – non-qualifying hedges on MSRs	—			—	(2)	—	—		—		(2)
Total noninterest income	361			204	82	138	7		(43)		749
Noninterest expense:
Compensation and benefits	156			170	66	53	261		—		706
Technology and communications	4			1	2	—	86		—		93
Net occupancy expense	8			47	3	4	17		—		79
Leasing business expense	35			—	—	—	—		—		35
Equipment expense	6			10	—	—	18		—		34
Card and processing expense	1			30	—	—	(1)		—		30
Marketing expense	1			8	—	—	14		—		23
Other noninterest expense	209			223	90	78	(342)		(43)		215
Total noninterest expense	420			489	161	135	53		(43)		1,215
Income (loss) before income taxes	382			(31)	41	25	466		—		883
Applicable income tax expense (benefit)	70			(7)	9	5	112		—		189
Net income (loss)	312			(24)	32	20	354		—		694
Total goodwill	$	1,980		2,047	—	232	—		—		4,259
Total assets	$	68,645		87,645	31,873	11,654	7,082	(d)	—		206,899

(a)Revenue sharing agreements between wealth and asset management and branch banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of $2 for branches and land. For more information, refer to Note 7 and Note 21.

(c)Includes impairment charges of $25 for operating lease equipment. For more information, refer to Note 8 and Note 21.

(d)Includes bank premises and equipment of $27 classified as held for sale. For more information, refer to Note 7.


March 31, 2020 ($ in millions)	Commercial Banking			Branch Banking	Consumer Lending	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	507		505	89	37	91		—		1,229
Provision for credit losses	45			62	13	1	519		—		640
Net interest income after provision for credit losses	462			443	76	36	(428)		—		589
Noninterest income:
Commercial banking revenue	124			1	—	—	(1)		—		124
Service charges on deposits	84			65	—	—	(1)		—		148
Wealth and asset management revenue	1			44	—	129	—		(40)	(a)	134
Card and processing revenue	16			67	—	—	3		—		86
Leasing business revenue	73		(c)	—	—	—	—		—		73
Mortgage banking net revenue	—			2	117	1	—		—		120
Other noninterest income(b)	(11)			19	4	5	(10)		—		7
Securities losses, net	—			—	—	—	(24)		—		(24)
Securities gains, net – non-qualifying hedges on MSRs	—			—	3	—	—		—		3
Total noninterest income	287			198	124	135	(33)		(40)		671
Noninterest expense:
Compensation and benefits	150			168	51	61	217		—		647
Technology and communications	3			1	2	—	87		—		93
Net occupancy expense(e)	7			44	2	3	26		—		82
Leasing business expense	35			—	—	—	—		—		35
Equipment expense	7			11	—	—	14		—		32
Card and processing expense	2			30	—	—	(1)		—		31
Marketing expense	2			13	1	1	14		—		31
Other noninterest expense	274			221	66	78	(350)		(40)		249
Total noninterest expense	480			488	122	143	7		(40)		1,200
Income (loss) before income taxes	269			153	78	28	(468)		—		60
Applicable income tax expense (benefit)	45			32	17	6	(86)		—		14
Net income (loss)	224			121	61	22	(382)		—		46
Total goodwill	$	1,961		2,047	—	253	—		—		4,261
Total assets	$	84,576		70,283	27,132	11,653	(8,253)	(d)	—		185,391

(a)Revenue sharing agreements between wealth and asset management and branch banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of $3 for branches and land. For more information, refer to Note 7 and Note 21.

(c)Includes impairment charges of $3 for operating lease equipment. For more information refer to Note 8 and Note 21.

(d)Includes bank premises and equipment of $36 classified as held for sale. For more information, refer to Note 7.

(e)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information refer to Note 9.