Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Total
Net interest income	$	686	1,125	59	(486)		1,384
Provision for (benefit from) credit losses	71		84	—	(61)		94
Net interest income after provision for (benefit from) credit losses	$	615	1,041	59	(425)		1,290
Noninterest income:
Wealth and asset management revenue	$	1	59	101	—		161
Service charges on deposits	100		51	—	—		151
Commercial banking revenue	142		1	—	—		143
Card and processing revenue	25		74	1	2		102
Mortgage banking net revenue	—		54	—	—		54
Leasing business revenue	39		—	—	—		39
Other noninterest income	18		27	—	5		50
Securities gains, net	1		—	—	9		10
Securities gains, net – non-qualifying hedges on MSRs	—		—	—	—		—
Total noninterest income	$	326	266	102	16		710
Noninterest expense:
Compensation and benefits	$	189	234	62	268		753
Technology and communications	4		7	—	106		117
Net occupancy expense	10		53	3	21		87
Equipment expense	7		13	—	17		37
Marketing expense	1		22	—	9		32
Leasing business expense	25		—	—	—		25
Card and processing expense	2		19	—	(1)		20
Other noninterest expense	263		291	38	(321)		271
Total noninterest expense	$	501	639	103	99		1,342
Income (loss) before income taxes	$	440	668	58	(508)		658
Applicable income tax expense (benefit)	71		141	12	(86)		138
Net income (loss)	$	369	527	46	(422)		520
Total goodwill	$	2,324	2,369	225	—		4,918
Total assets	$	77,401	89,219	11,360	36,526	(a)	214,506

(a)Includes bank premises and equipment of $16 classified as held for sale. For more information, refer to Note 7.


March 31, 2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		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:
Wealth and asset management revenue	$	1	53	92	—		146
Service charges on deposits	87		51	—	(1)		137
Commercial banking revenue	160		1	—	—		161
Card and processing revenue	22		74	1	3		100
Mortgage banking net revenue	—		69	—	—		69
Leasing business revenue	57		—	—	—		57
Other noninterest income(a)	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	92	(5)		696
Noninterest expense:
Compensation and benefits	$	190	224	61	282		757
Technology and communications	2		7	—	109		118
Net occupancy expense(c)	11		51	3	16		81
Equipment expense	7		11	—	19		37
Marketing expense	—		17	—	12		29
Leasing business expense	34		—	—	—		34
Card and processing expense	3		20	—	(1)		22
Other noninterest expense	304		315	36	(402)		253
Total noninterest expense	$	551	645	100	35		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	(b)	208,657

(a)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 21.

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

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