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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Interest and fees on loans and leases $ 1,859 $ 1,714
Interest on securities 455 439
Interest on other short-term investments 294 60
Total interest income 2,608 2,213
Interest Expense    
Interest on deposits 954 478
Interest on federal funds purchased 3 5
Interest on other short-term borrowings 47 57
Interest on long-term debt 220 156
Total interest expense 1,224 696
Net Interest Income 1,384 1,517
Provision for credit losses 94 164
Net Interest Income After Provision for Credit Losses 1,290 1,353
Noninterest Income    
Wealth and asset management revenue 161 146
Service charges on deposits 151 137
Commercial banking revenue 143 161
Card and processing revenue 102 100
Mortgage banking net revenue 54 69
Leasing business revenue 39 57
Other noninterest income 50 22
Securities gains, net 10 4
Securities gains, net – non-qualifying hedges on mortgage servicing rights 0 0
Total noninterest income 710 696
Noninterest Expense    
Compensation and benefits 753 757
Technology and communications 117 118
Net occupancy expense 87 81
Equipment expense 37 37
Marketing expense 25 34
Leasing business expense 32 29
Card and processing expense 20 22
Other noninterest expense 271 253
Total noninterest expense 1,342 1,331
Income Before Income Taxes 658 718
Applicable income tax expense 138 160
Net Income 520 558
Dividends on preferred stock 40 23
Net Income Available to Common Shareholders $ 480 $ 535
Shares Disclosures    
Earnings per share - basic (in dollars per share) $ 0.70 $ 0.78
Earnings per share - diluted (in dollars per share) $ 0.70 $ 0.78
Average common shares outstanding - basic (in shares) 685,749,673 684,017,462
Average common shares outstanding - diluted (in shares) 690,633,531 689,566,425