Business Segments (Tables)

9 Months Ended

Sep. 30, 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:


September 30, 2022 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	594	833	79	(8)		—		1,498
Provision for (benefit from) credit losses	(2)		34	—	126		—		158
Net interest income after provision for (benefit from) credit losses	$	596	799	79	(134)		—		1,340
Noninterest income:
Service charges on deposits	$	90	53	—	—		—		143
Wealth and asset management revenue	1		52	132	—		(44)	(a)	141
Commercial banking revenue	133		1	1	(1)		—		134
Card and processing revenue	22		79	1	3		—		105
Leasing business revenue	60		—	—	—		—		60
Mortgage banking net revenue	—		69	—	—		—		69
Other noninterest income(b)	24		33	—	2		—		59
Securities losses, net	(32)		—	—	(6)		—		(38)
Securities losses, net – non-qualifying hedges on MSRs	—		(1)	—	—		—		(1)
Total noninterest income	$	298	286	134	(2)		(44)		672
Noninterest expense:
Compensation and benefits	$	147	207	54	197		—		605
Technology and communications	2		6	—	98		—		106
Net occupancy expense	10		49	3	12		—		74
Equipment expense	7		9	—	20		—		36
Leasing business expense	33		—	—	—		—		33
Marketing expense	1		20	—	14		—		35
Card and processing expense	3		19	—	(1)		—		21
Other noninterest expense	237		298	85	(319)		(44)		257
Total noninterest expense	$	440	608	142	21		(44)		1,167
Income (loss) before income taxes	$	454	477	71	(157)		—		845
Applicable income tax expense (benefit)	85		100	15	(8)		—		192
Net income (loss)	$	369	377	56	(149)		—		653
Total goodwill	$	2,324	2,375	226	—		—		4,925
Total assets	$	83,798	84,653	12,232	24,780	(c)	—		205,463

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes $1 of impairment charges for bank premises and equipment recorded in Consumer and Small Business Banking. For more information, refer to Note 7 and Note 22.

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


September 30, 2021 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	394	429	22	344		—		1,189
(Benefit from) provision for credit losses	(250)		19	—	189		—		(42)
Net interest income after (benefit from) provision for credit losses	$	644	410	22	155		—		1,231
Noninterest income:
Service charges on deposits	$	96	56	—	—		—		152
Wealth and asset management revenue	—		53	140	—		(46)	(a)	147
Commercial banking revenue	151		1	—	—		—		152
Card and processing revenue	21		78	1	2		—		102
Leasing business revenue	78		—	—	—		—		78
Mortgage banking net revenue	—		85	1	—		—		86
Other noninterest income(b)	26		28	1	65		—		120
Securities (losses) gains, net	2		—	—	(3)		—		(1)
Securities losses, net – non-qualifying hedges on MSRs	—		—	—	—		—		—
Total noninterest income	$	374	301	143	64		(46)		836
Noninterest expense:
Compensation and benefits	$	152	207	48	220		—		627
Technology and communications	5		4	—	89		—		98
Net occupancy expense(c)	9		49	4	17		—		79
Equipment expense	7		9	—	18		—		34
Leasing business expense	33		—	—	—		—		33
Marketing expense	1		11	1	16		—		29
Card and processing expense	2		18	—	(1)		—		19
Other noninterest expense	225		295	81	(302)		(46)		253
Total noninterest expense	$	434	593	134	57		(46)		1,172
Income before income taxes	$	584	118	31	162		—		895
Applicable income tax expense	114		25	7	45		—		191
Net income	$	470	93	24	117		—		704
Total goodwill	$	1,981	2,302	231	—		—		4,514
Total assets	$	72,423	83,130	11,272	40,906	(d)	—		207,731

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of $3 recorded in Consumer and Small Business Banking for bank premises and equipment. For more information, refer to Note 7 and Note 22.

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

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

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


September 30, 2022 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	1,669		1,981	167	215		—		4,032
Provision for credit losses	44			93	—	246		—		383
Net interest income after provision for credit losses	$	1,625		1,888	167	(31)		—		3,649
Noninterest income:
Service charges on deposits	$	285		164	1	(1)		—		449
Wealth and asset management revenue	2			154	407	—		(133)	(a)	430
Commercial banking revenue	405			2	1	(2)		—		406
Card and processing revenue	65			231	2	8		—		306
Leasing business revenue	179		(c)	—	—	—		—		179
Mortgage banking net revenue	—			151	1	—		—		152
Other noninterest income(b)	88			86	—	21		—		195
Securities losses, net	(32)			—	—	(52)		—		(84)
Securities losses, net – non-qualifying hedges on MSRs	—			(2)	—	—		—		(2)
Total noninterest income	$	992		786	412	(26)		(133)		2,031
Noninterest expense:
Compensation and benefits	$	483		630	166	621		—		1,900
Technology and communications	9			15	1	281		—		306
Net occupancy expense(e)	30			147	9	39		—		225
Equipment expense	21			28	—	59		—		108
Leasing business expense	95			—	—	—		—		95
Marketing expense	3			44	1	39		—		87
Card and processing expense	8			54	—	(3)		—		59
Other noninterest expense	712			871	244	(973)		(133)		721
Total noninterest expense	$	1,361		1,789	421	63		(133)		3,501
Income (loss) before income taxes	$	1,256		885	158	(120)		—		2,179
Applicable income tax expense	230			186	33	21		—		470
Net income (loss)	$	1,026		699	125	(141)		—		1,709
Total goodwill	$	2,324		2,375	226	—		—		4,925
Total assets	$	83,798		84,653	12,232	24,780	(d)	—		205,463

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes $2 of impairment charges for bank premises and equipment recorded in Consumer and Small Business Banking. For more information, refer to Note 7 and Note 22.

(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8 and Note 22.

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

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


September 30, 2021 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	1,183		1,247	64	1,080		—		3,574
(Benefit from) provision for credit losses	(479)			95	(1)	55		—		(330)
Net interest income after (benefit from) provision for credit losses	$	1,662		1,152	65	1,025		—		3,904
Noninterest income:
Service charges on deposits	$	288		157	—	—		—		445
Wealth and asset management revenue	2			154	414	—		(134)	(a)	436
Commercial banking revenue	462			2	1	—		—		465
Card and processing revenue	57			232	2	7		—		298
Leasing business revenue	226		(c)	—	—	—		—		226
Mortgage banking net revenue	—			233	2	—		—		235
Other noninterest income(b)	70			75	3	63		—		211
Securities gains, net	8			—	—	4		—		12
Securities losses, net – non-qualifying hedges on MSRs	—			(2)	—	—		—		(2)
Total noninterest income	$	1,113		851	422	74		(134)		2,326
Noninterest expense:
Compensation and benefits	$	475		633	151	712		—		1,971
Technology and communications	12			12	1	260		—		285
Net occupancy expense(d)	28			149	11	47		—		235
Equipment expense	19			28	—	55		—		102
Leasing business expense	102			—	—	—		—		102
Marketing expense	4			26	1	41		—		72
Card and processing expense	5			68	—	(3)		—		70
Other noninterest expense	668			882	236	(948)		(134)		704
Total noninterest expense	$	1,313		1,798	400	164		(134)		3,541
Income before income taxes	$	1,462		205	87	935		—		2,689
Applicable income tax expense	276			44	19	243		—		582
Net income	$	1,186		161	68	692		—		2,107
Total goodwill	$	1,981		2,302	231	—		—		4,514
Total assets	$	72,423		83,130	11,272	40,906	(e)	—		207,731

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of $6 and $1 for branches and land recorded in Consumer and Small Business Banking and General Corporate and Other, respectively. For more information, refer to Note 7 and Note 22.

(c)Includes impairment charges of $25 for operating lease equipment. For more information, refer to Note 8 and Note 22.

(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 $25 classified as held for sale. For more information, refer to Note 7.