Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

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:


2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	3,812	5,207	360	(3,552)		—		5,827
Provision for credit losses	12		303	1	199		—		515
Net interest income after provision for credit losses	3,800		4,904	359	(3,751)		—		5,312
Noninterest income:
Commercial banking revenue	619		4	1	—		—		624
Wealth and asset management revenue	2		216	549	—		(186)	(a)	581
Service charges on deposits	371		208	1	(3)		—		577
Card and processing revenue	92		312	2	10		—		416
Mortgage banking net revenue	—		250	—	—		—		250
Leasing business revenue	208		—	—	—		—		208
Other noninterest income(b)	73		115	2	17		—		207
Securities gains (losses), net	(9)		—	—	27		—		18
Securities losses, net - non-qualifying hedges on MSRs	—		—	—	—		—		—
Total noninterest income	1,356		1,105	555	51		(186)		2,881
Noninterest expense:
Compensation and benefits	654		878	220	942		—		2,694
Technology and communications	14		27	1	422		—		464
Net occupancy expense(c)	41		209	12	69		—		331
Equipment expense	29		44	—	75		—		148
Marketing expense	3		70	1	52		—		126
Leasing business expense	121		—	—	—		—		121
Card and processing expense	11		76	1	(4)		—		84
Other noninterest expense	1,130		1,211	326	(1,244)		(186)		1,237
Total noninterest expense	2,003		2,515	561	312		(186)		5,205
Income (loss) before income taxes	3,153		3,494	353	(4,012)		—		2,988
Applicable income tax expense (benefit)	594		733	74	(762)		—		639
Net income (loss)	2,559		2,761	279	(3,250)		—		2,349
Total goodwill	$	2,324	2,369	226	—		—		4,919
Total assets	$	77,640	88,144	10,891	37,899	(d)	—		214,574

(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 $1 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 losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9.

(d)Includes bank premises and equipment of $19 classified as held for sale. For more information, refer to Note 7.


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:
Commercial banking revenue	563			3	1	(2)		—		565
Wealth and asset management revenue	3			204	540	—		(177)	(a)	570
Service charges on deposits	372			216	1	—		—		589
Card and processing revenue	87			308	2	12		—		409
Mortgage banking net revenue	—			214	1	—		—		215
Leasing business revenue	237		(c)	—	—	—		—		237
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
Marketing expense	5			58	1	54		—		118
Leasing business expense	131			—	—	—		—		131
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:
Commercial banking revenue	633			2	2	—		—		637
Wealth and asset management revenue	2			206	558	—		(180)	(a)	586
Service charges on deposits	385			214	1	—		—		600
Card and processing revenue	78			312	2	10		—		402
Mortgage banking net revenue	—			267	3	—		—		270
Leasing business revenue	300		(c)	—	—	—		—		300
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
Marketing expense	7			41	2	57		—		107
Leasing business expense	137			—	—	—		—		137
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.

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

(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.