Business Segments (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022 ($ in millions)	Commercial Banking			Branch Banking	Consumer Lending	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	479		430	131	35	120		—		1,195
Provision for (benefit from) credit losses	(28)			17	6	—	50		—		45
Net interest income after provision for (benefit from) credit losses	$	507		413	125	35	70		—		1,150
Noninterest income:
Service charges on deposits	$	94		59	—	—	(1)		—		152
Wealth and asset management revenue	—			51	—	142	—		(44)	(a)	149
Commercial banking revenue	133			2	—	—	—		—		135
Card and processing revenue	16			78	—	1	2		—		97
Leasing business revenue	62		(c)	—	—	—	—		—		62
Mortgage banking net revenue	—			2	50	—	—		—		52
Other noninterest income(b)	22			24	3	1	2		—		52
Securities losses, net	—			—	—	—	(14)		—		(14)
Securities losses, net – non-qualifying hedges on MSRs	—			—	(1)	—	—		—		(1)
Total noninterest income	$	327		216	52	144	(11)		(44)		684
Noninterest expense:
Compensation and benefits	$	166		177	57	60	251		—		711
Technology and communications	5			1	3	—	92		—		101
Net occupancy expense(e)	9			47	2	3	16		—		77
Equipment expense	7			9	—	—	20		—		36
Leasing business expense	32			—	—	—	—		—		32
Marketing expense	1			10	1	—	12		—		24
Card and processing expense	2			18	—	—	(1)		—		19
Other noninterest expense	224			228	81	79	(346)		(44)		222
Total noninterest expense	$	446		490	144	142	44		(44)		1,222
Income before income taxes	$	388		139	33	37	15		—		612
Applicable income tax expense	70			30	7	8	3		—		118
Net income	$	318		109	26	29	12		—		494
Total goodwill	$	1,980		2,303	—	231	—		—		4,514
Total assets	$	77,820		94,552	32,680	13,715	(7,308)	(d)	—		211,459

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

(b)Includes an immaterial amount of impairment charges for bank premises and equipment recorded in Branch Banking. For more information, refer to Note 7 and Note 20.

(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8 and Note 20.

(d)Includes bank premises and equipment of $25 classified as held for sale. For more information, refer to Note 7.

(e)Includes $1 of impairment losses and termination charges for ROU assets related to certain operating leases. For more information, refer to Note 9.


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:
Service charges on deposits	$	90		54	—	—	—		—		144
Wealth and asset management revenue	1			49	—	136	—		(43)	(a)	143
Commercial banking revenue	151			2	—	—	—		—		153
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
Equipment expense	6			10	—	—	18		—		34
Leasing business expense	35			—	—	—	—		—		35
Marketing expense	1			8	—	—	14		—		23
Card and processing expense	1			30	—	—	(1)		—		30
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 $1 recorded in Branch Banking and $1 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7 and Note 20.

(c)Includes impairment charges of $25 for operating lease equipment. For more information, refer to Note 8 and Note 20.

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