Business Segments (Tables)

12 Months Ended

Dec. 31, 2021

Results of Operations and Assets by Segment

The following tables present the results of operations and assets by business segment for the years ended December 31:


2021 ($ in millions)	Commercial Banking			Branch Banking	Consumer Lending	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	1,498		1,221	562	88	1,401		—		4,770
(Benefit from) provision for credit losses	(583)			97	9	(1)	101		—		(377)
Net interest income after (benefit from) provision for credit losses	2,081			1,124	553	89	1,300		—		5,147
Noninterest income:
Commercial banking revenue	626			9	—	2	—		—		637
Service charges on deposits	363			236	—	1	—		—		600
Wealth and asset management revenue	2			206	—	558	—		(180)	(a)	586
Card and processing revenue	61			329	—	2	10		—		402
Leasing business revenue	300		(c)	—	—	—	—		—		300
Mortgage banking net revenue	—			10	257	3	—		—		270
Other noninterest income(b)	87			103	9	4	129		—		332
Securities (losses) gains, net	8			—	—	—	(15)		—		(7)
Securities losses, net -non-qualifying hedges on MSRs	—			—	(2)	—	—		—		(2)
Total noninterest income	1,447			893	264	570	124		(180)		3,118
Noninterest expense:
Compensation and benefits	586			646	245	205	944		—		2,626
Technology and communications	17			5	11	1	354		—		388
Net occupancy expense(d)	33			191	10	15	63		—		312
Equipment expense	26			38	—	—	74		—		138
Leasing business expense	137			—	—	—	—		—		137
Marketing expense	7			38	3	2	57		—		107
Card and processing expense	6			86	—	1	(4)		—		89
Other noninterest expense	843			870	370	316	(1,268)		(180)		951
Total noninterest expense	1,655			1,874	639	540	220		(180)		4,748
Income before income taxes	1,873			143	178	119	1,204		—		3,517
Applicable income tax expense	354			29	37	25	302		—		747
Net income	1,519			114	141	94	902		—		2,770
Total goodwill	$	1,980		2,303	—	231	—		—		4,514
Total assets	$	73,306		92,079	33,270	13,836	(1,375)	(e)	—		211,116

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

(b)Includes impairment charges of $6 and $1 for bank premises and equipment recorded in Branch Banking and General Corporate and Other, respectively. For more information, refer to Note 7 and Note 28.

(c)Includes impairment charges of $25 for operating lease equipment. For more information, refer to Note 8 and Note 28.

(d)Includes impairment losses and termination charges of $3 for ROU assets related to certain operating leases. For more information, refer to Note 9.

(e)Includes bank premises and equipment of $24 classified as held for sale. For more information, refer to Note 7.


2020 ($ in millions)	Commercial Banking			Branch Banking	Consumer Lending	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	1,903		1,667	381	139	692		—		4,782
Provision for (benefit from) credit losses	1,050			231	34	3	(221)		—		1,097
Net interest income after provision for (benefit from) credit losses	853			1,436	347	136	913		—		3,685
Noninterest income:
Commercial banking revenue	524			5	—	2	(3)		—		528
Service charges on deposits	343			215	—	1	—		—		559
Wealth and asset management revenue	3			172	—	498	—		(153)	(a)	520
Card and processing revenue	54			283	—	2	13		—		352
Leasing business revenue	276		(c)	—	—	—	—		—		276
Mortgage banking net revenue	—			8	307	5	—		—		320
Other noninterest income(b)	101			68	10	18	14		—		211
Securities gains, net	—			—	—	—	62		—		62
Securities gains, net -non-qualifying hedges on MSRs	—			—	2	—	—		—		2
Total noninterest income	1,301			751	319	526	86		(153)		2,830
Noninterest expense:
Compensation and benefits	557			649	221	218	945		—		2,590
Technology and communications	13			4	8	1	336		—		362
Net occupancy expense(d)	31			176	10	12	121		—		350
Equipment expense	27			41	—	1	61		—		130
Leasing business expense	140			—	—	—	—		—		140
Marketing expense	8			32	3	2	59		—		104
Card and processing expense	7			116	—	1	(3)		—		121
Other noninterest expense	938			851	276	298	(1,289)		(153)		921
Total noninterest expense	1,721			1,869	518	533	230		(153)		4,718
Income before income taxes	433			318	148	129	769		—		1,797
Applicable income tax expense	46			67	31	27	199		—		370
Net income	387			251	117	102	570		—		1,427
Total goodwill	$	1,980		2,047	—	231	—		—		4,258
Total assets	$	70,241		79,982	30,480	12,466	11,511	(e)	—		204,680

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

(b)Includes impairment charges of $15 recorded in Branch Banking and $15 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7 and Note 28.

(c)Includes impairment charges of $7 for operating lease equipment. For more information, refer to Note 8 and Note 28.

(d)Includes impairment losses and termination charges of $8 for ROU assets related to certain operating leases. For more information, refer to Note 9.

(e)Includes bank premises and equipment of $35 classified as held for sale. For more information, refer to Note 7.


2019 ($ in millions)	Commercial Banking			Branch Banking	Consumer Lending	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	2,360		2,371	325	182	(441)		—		4,797
Provision for credit losses	183			224	49	—	15		—		471
Net interest income after provision for credit losses	2,177			2,147	276	182	(456)		—		4,326
Noninterest income:
Commercial banking revenue	455			4	—	1	—		—		460
Service charges on deposits	308			260	—	1	(4)		—		565
Wealth and asset management revenue	3			158	—	469	—		(143)	(a)	487
Card and processing revenue	66			285	—	3	6		—		360
Leasing business revenue	270		(c)	—	—	—	—		—		270
Mortgage banking net revenue	—			6	279	2	—		—		287
Other noninterest income(b)	85			89	14	13	863		—		1,064
Securities gains, net	—			—	—	—	40		—		40
Securities gains, net -non-qualifying hedges on MSRs	—			—	3	—	—		—		3
Total noninterest income	1,187			802	296	489	905		(143)		3,536
Noninterest expense:
Compensation and benefits	466			601	196	217	938		—		2,418
Technology and communications	11			4	8	1	398		—		422
Net occupancy expense(d)	28			173	10	13	108		—		332
Equipment expense	25			48	—	1	55		—		129
Leasing business expense	133			—	—	—	—		—		133
Marketing expense	12			72	4	5	69		—		162
Card and processing expense	8			123	—	1	(2)		—		130
Other noninterest expense	938			839	237	291	(1,228)		(143)		934
Total noninterest expense	1,621			1,860	455	529	338		(143)		4,660
Income before income taxes	1,743			1,089	117	142	111		—		3,202
Applicable income tax expense	319			229	25	30	87		—		690
Net income	1,424			860	92	112	24		—		2,512
Total goodwill	$	1,954		2,046	—	252	—		—		4,252
Total assets	$	74,570		69,413	26,555	10,500	(11,669)	(e)	—		169,369

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

(b)Includes impairment charges of $11 and $17 for bank premises and equipment recorded in Branch Banking and General Corporate and Other, respectively. For more information, refer to Note 7.

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

(d)Includes impairment losses and termination charges of $15 for ROU assets related to certain operating leases. For more information, refer to Note 9.

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