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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Income    
Interest and fees on loans and leases $ 1,714 $ 983
Interest on securities 439 294
Interest on other short-term investments 60 12
Total interest income 2,213 1,289
Interest Expense    
Interest on deposits 478 11
Interest on federal funds purchased 5 0
Interest on other short-term borrowings 57 0
Interest on long-term debt 156 83
Total interest expense 696 94
Net Interest Income 1,517 1,195
Provision for credit losses 164 45
Net Interest Income After Provision for Credit Losses 1,353 1,150
Noninterest Income    
Commercial banking revenue 161 135
Wealth and asset management revenue 146 149
Service charges on deposits 137 152
Card and processing revenue 100 97
Mortgage banking net revenue 69 52
Leasing business revenue 57 62
Other noninterest income 22 52
Securities gains (losses), net 4 (14)
Securities losses, net – non-qualifying hedges on mortgage servicing rights 0 (1)
Total noninterest income 696 684
Noninterest Expense    
Compensation and benefits 757 711
Technology and communications 118 101
Net occupancy expense 81 77
Equipment expense 37 36
Leasing business expense 34 32
Marketing expense 29 24
Card and processing expense 22 19
Other noninterest expense 253 222
Total noninterest expense 1,331 1,222
Income Before Income Taxes 718 612
Applicable income tax expense 160 118
Net Income 558 494
Dividends on preferred stock 23 20
Net Income Available to Common Shareholders $ 535 $ 474
Shares Disclosures    
Earnings per share - basic (in dollars per share) $ 0.78 $ 0.69
Earnings per share - diluted (in dollars per share) $ 0.78 $ 0.68
Average common shares outstanding - basic (in shares) 684,017,462 687,537,989
Average common shares outstanding - diluted (in shares) 689,566,425 696,242,395