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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income        
Interest and fees on loans and leases $ 1,081 $ 1,035 $ 2,062 $ 2,064
Interest on securities 369 279 663 543
Interest on other short-term investments 14 9 27 17
Total interest income 1,464 1,323 2,752 2,624
Interest Expense        
Interest on deposits 25 15 36 36
Interest on federal funds purchased 1 0 1 0
Interest on other short-term borrowings 12 0 13 1
Interest on long-term debt 87 100 168 202
Total interest expense 125 115 218 239
Net Interest Income 1,339 1,208 2,534 2,385
Provision for (benefit from) credit losses 179 (115) 224 (288)
Net Interest Income After Provision for (Benefit from) Credit Losses 1,160 1,323 2,310 2,673
Noninterest Income        
Service charges on deposits 154 149 306 292
Wealth and asset management revenue 140 145 289 288
Commercial banking revenue 137 160 272 313
Card and processing revenue 105 102 201 196
Leasing business revenue 56 61 118 148
Mortgage banking net revenue 31 64 83 149
Other noninterest income 85 49 138 92
Securities (losses) gains, net (32) 10 (47) 13
Securities (losses) gains, net – non-qualifying hedges on mortgage servicing rights 0 1 (1) (1)
Total noninterest income 676 741 1,359 1,490
Noninterest Expense        
Compensation and benefits 584 638 1,295 1,343
Technology and communications 98 94 199 187
Net occupancy expense 75 77 152 156
Equipment expense 36 34 72 68
Leasing business expense 31 33 63 68
Marketing expense 28 20 52 43
Card and processing expense 20 20 38 50
Other noninterest expense 240 237 463 454
Total noninterest expense 1,112 1,153 2,334 2,369
Income Before Income Taxes 724 911 1,335 1,794
Applicable income tax expense 162 202 279 391
Net Income 562 709 1,056 1,403
Dividends on preferred stock 36 35 56 55
Net Income Available to Common Shareholders $ 526 $ 674 $ 1,000 $ 1,348
Shares Disclosures        
Earnings per share - basic (in dollars per share) $ 0.76 $ 0.95 $ 1.45 $ 1.89
Earnings per share - diluted (in dollars per share) $ 0.76 $ 0.94 $ 1.44 $ 1.87
Average common shares outstanding - basic (in shares) 689,018,541 708,832,787 688,282,355 711,617,331
Average common shares outstanding - diluted (in shares) 694,804,715 718,084,745 695,519,583 720,740,176