Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

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:


2022 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	2,542		3,131	262	(326)		—		5,609
Provision for credit losses	33			139	—	391		—		563
Net interest income after provision for credit losses	2,509			2,992	262	(717)		—		5,046
Noninterest income:
Service charges on deposits	372			216	1	—		—		589
Wealth and asset management revenue	3			204	540	—		(177)	(a)	570
Commercial banking revenue	563			3	1	(2)		—		565
Card and processing revenue	87			308	2	12		—		409
Leasing business revenue	237		(c)	—	—	—		—		237
Mortgage banking net revenue	—			214	1	—		—		215
Other noninterest income(b)	111			110	—	44		—		265
Securities losses, net	(33)			—	—	(49)		—		(82)
Securities losses, net -non-qualifying hedges on MSRs	—			(2)	—	—		—		(2)
Total noninterest income	1,340			1,053	545	5		(177)		2,766
Noninterest expense:
Compensation and benefits	639			828	218	869		—		2,554
Technology and communications	11			22	1	382		—		416
Net occupancy expense(d)	40			196	13	58		—		307
Equipment expense	27			38	—	80		—		145
Leasing business expense	131			—	—	—		—		131
Marketing expense	5			58	1	54		—		118
Card and processing expense	11			72	1	(4)		—		80
Other noninterest expense	959			1,175	322	(1,311)		(177)		968
Total noninterest expense	1,823			2,389	556	128		(177)		4,719
Income (loss) before income taxes	2,026			1,656	251	(840)		—		3,093
Applicable income tax expense (benefit)	377			347	53	(130)		—		647
Net income (loss)	1,649			1,309	198	(710)		—		2,446
Total goodwill	$	2,324		2,365	226	—		—		4,915
Total assets	$	83,535		83,697	14,253	25,967	(e)	—		207,452

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

(b)Includes impairment charges of $6 recorded in Consumer and Small Business Banking and $3 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 $2 for operating lease equipment. For more information, refer to Note 8 and Note 28.

(d)Includes impairment losses and termination charges of $2 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.


2021 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	1,596		1,685	88	1,401		—		4,770
(Benefit from) provision for credit losses	(597)			120	(1)	101		—		(377)
Net interest income after (benefit from) provision for credit losses	2,193			1,565	89	1,300		—		5,147
Noninterest income:
Service charges on deposits	385			214	1	—		—		600
Wealth and asset management revenue	2			206	558	—		(180)	(a)	586
Commercial banking revenue	633			2	2	—		—		637
Card and processing revenue	78			312	2	10		—		402
Leasing business revenue	300		(c)	—	—	—		—		300
Mortgage banking net revenue	—			267	3	—		—		270
Other noninterest income(b)	91			108	4	129		—		332
Securities (losses) gains, net	8			—	—	(15)		—		(7)
Securities losses, net -non-qualifying hedges on MSRs	—			(2)	—	—		—		(2)
Total noninterest income	1,497			1,107	570	124		(180)		3,118
Noninterest expense:
Compensation and benefits	644			833	205	944		—		2,626
Technology and communications	17			16	1	354		—		388
Net occupancy expense(d)	37			197	15	63		—		312
Equipment expense	26			38	—	74		—		138
Leasing business expense	137			—	—	—		—		137
Marketing expense	7			41	2	57		—		107
Card and processing expense	7			85	1	(4)		—		89
Other noninterest expense	898			1,185	316	(1,268)		(180)		951
Total noninterest expense	1,773			2,395	540	220		(180)		4,748
Income before income taxes	1,917			277	119	1,204		—		3,517
Applicable income tax expense	363			57	25	302		—		747
Net income	1,554			220	94	902		—		2,770
Total goodwill	$	1,980		2,303	231	—		—		4,514
Total assets	$	75,387		85,455	13,836	36,438	(e)	—		211,116

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

(b)Includes impairment charges of $6 recorded in Consumer and Small Business Banking and $1 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 $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			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	2,009		1,942	139	692		—		4,782
Provision for (benefit from) credit losses	1,086			229	3	(221)		—		1,097
Net interest income after provision for (benefit from) credit losses	923			1,713	136	913		—		3,685
Noninterest income:
Service charges on deposits	358			200	1	—		—		559
Wealth and asset management revenue	3			172	498	—		(153)	(a)	520
Commercial banking revenue	527			2	2	(3)		—		528
Card and processing revenue	68			269	2	13		—		352
Leasing business revenue	276		(c)	—	—	—		—		276
Mortgage banking net revenue	—			315	5	—		—		320
Other noninterest income(b)	101			78	18	14		—		211
Securities gains, net	—			—	—	62		—		62
Securities gains, net -non-qualifying hedges on MSRs	—			2	—	—		—		2
Total noninterest income	1,333			1,038	526	86		(153)		2,830
Noninterest expense:
Compensation and benefits	606			821	218	945		—		2,590
Technology and communications	13			12	1	336		—		362
Net occupancy expense(d)	32			185	12	121		—		350
Equipment expense	27			41	1	61		—		130
Leasing business expense	140			—	—	—		—		140
Marketing expense	9			34	2	59		—		104
Card and processing expense	7			116	1	(3)		—		121
Other noninterest expense	975			1,090	298	(1,289)		(153)		921
Total noninterest expense	1,809			2,299	533	230		(153)		4,718
Income before income taxes	447			452	129	769		—		1,797
Applicable income tax expense	49			95	27	199		—		370
Net income	398			357	102	570		—		1,427
Total goodwill	$	1,980		2,047	231	—		—		4,258
Total assets	$	71,801		77,169	12,466	43,244	(e)	—		204,680

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

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

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

(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.