Business Segments (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	977	1,257	101	(818)		—		1,517
Provision for credit losses	46		51	—	67		—		164
Net interest income after provision for credit losses	$	931	1,206	101	(885)		—		1,353
Noninterest income:
Commercial banking revenue	$	160	1	—	—		—		161
Wealth and asset management revenue	1		53	138	—		(46)	(a)	146
Service charges on deposits	87		51	—	(1)		—		137
Card and processing revenue	22		74	1	3		—		100
Mortgage banking net revenue	—		69	—	—		—		69
Leasing business revenue	57		—	—	—		—		57
Other noninterest income(b)	16		25	(1)	(18)		—		22
Securities gains (losses), net	(7)		—	—	11		—		4
Securities losses, net – non-qualifying hedges on MSRs	—		—	—	—		—		—
Total noninterest income	$	336	273	138	(5)		(46)		696
Noninterest expense:
Compensation and benefits	$	190	224	61	282		—		757
Technology and communications	2		7	—	109		—		118
Net occupancy expense(d)	11		51	3	16		—		81
Equipment expense	7		11	—	19		—		37
Leasing business expense	34		—	—	—		—		34
Marketing expense	—		17	—	12		—		29
Card and processing expense	3		20	—	(1)		—		22
Other noninterest expense	304		315	82	(402)		(46)		253
Total noninterest expense	$	551	645	146	35		(46)		1,331
Income (loss) before income taxes	$	716	834	93	(925)		—		718
Applicable income tax expense (benefit)	136		175	19	(170)		—		160
Net income (loss)	$	580	659	74	(755)		—		558
Total goodwill	$	2,324	2,365	226	—		—		4,915
Total assets	$	83,545	85,296	11,707	28,109	(c)	—		208,657

(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 $1 for bank premises and equipment recorded in Consumer and Small Business Banking and an immaterial amount recorded in General Corporate and Other. For more information, refer to Note 7 and Note 22.

(c)Includes bank premises and equipment of $22 classified as held for sale. For more information, refer to Note 7.

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


March 31, 2022 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	523		517	35	120		—		1,195
Provision for (benefit from) credit losses	(34)			29	—	50		—		45
Net interest income after provision for (benefit from) credit losses	$	557		488	35	70		—		1,150
Noninterest income:
Commercial banking revenue	$	135		—	—	—		—		135
Wealth and asset management revenue	—			51	142	—		(44)	(a)	149
Service charges on deposits	100			53	—	(1)		—		152
Card and processing revenue	20			74	1	2		—		97
Mortgage banking net revenue	—			52	—	—		—		52
Leasing business revenue	62		(c)	—	—	—		—		62
Other noninterest income(b)	22			27	1	2		—		52
Securities losses, net	—			—	—	(14)		—		(14)
Securities losses, net – non-qualifying hedges on MSRs	—			(1)	—	—		—		(1)
Total noninterest income	$	339		256	144	(11)		(44)		684
Noninterest expense:
Compensation and benefits	$	182		218	60	251		—		711
Technology and communications	5			4	—	92		—		101
Net occupancy expense(e)	10			48	3	16		—		77
Equipment expense	7			9	—	20		—		36
Leasing business expense	32			—	—	—		—		32
Marketing expense	1			11	—	12		—		24
Card and processing expense	2			18	—	(1)		—		19
Other noninterest expense	240			293	79	(346)		(44)		222
Total noninterest expense	$	479		601	142	44		(44)		1,222
Income before income taxes	$	417		143	37	15		—		612
Applicable income tax expense	76			31	8	3		—		118
Net income	$	341		112	29	12		—		494
Total goodwill	$	1,980		2,303	231	—		—		4,514
Total assets	$	79,970		86,626	13,715	31,148	(d)	—		211,459

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

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