Business Segments (Tables)

9 Months Ended

Sep. 30, 2014

Results of Operations and Average Assets by Segment

Results of operations and assets by segment for the three and nine months ended September 30, 2014 and 2013 are:

						General
		Commercial	Branch	Consumer	Investment	Corporate
($ in millions)		Banking	Banking	Lending	Advisors	and Other	Eliminations	Total
Three months ended September 30, 2014
Net interest income	$	418	389	64	30	2	-	903
Provision for loan and lease losses		47	50	17	1	(44)	-	71
Net interest income after provision for loan
and lease losses		371	339	47	29	46	-	832
Noninterest income:
Service charges on deposits		72	73	-	-	-	-	145
Corporate banking revenue		98	2	-	-	-	-	100
Investment advisory revenue		1	40	-	101	(1)	(38)^(a)	103
Mortgage banking net revenue		-	1	60	-	-	-	61
Card and processing revenue		16	58	-	1	-	-	75
Other noninterest income		31	20	10	-	(28)	-	33
Securities gains, net		-	-	-	-	3	-	3
Securities gains, net - non-qualifying hedges on
mortgage servicing rights		-	-	-	-	-	-	-
Total noninterest income		218	194	70	102	(26)	(38)	520
Noninterest expense:
Salaries, wages and incentives		63	106	23	33	132	-	357
Employee benefits		10	29	7	6	23	-	75
Net occupancy expense		6	47	2	2	21	-	78
Technology and communications		2	1	1	-	49	-	53
Card and processing expense		2	35	-	-	-	-	37
Equipment expense		3	15	-	-	12	-	30
Other noninterest expense		236	160	82	70	(252)	(38)	258
Total noninterest expense		322	393	115	111	(15)	(38)	888
Income before income taxes		267	140	2	20	35	-	464
Applicable income tax expense		50	49	1	7	17	-	124
Net income		217	91	1	13	18	-	340
Less: Net income attributable to noncontrolling interests		-	-	-	-	-	-	-
Net income attributable to Bancorp		217	91	1	13	18	-	340
Dividends on preferred stock		-	-	-	-	12	-	12
Net income available to common shareholders	$	217	91	1	13	6	-	328
Total goodwill	$	613	1,655	-	148	-	-	2,416
Total assets	$	56,496	49,552	22,631	9,856	(4,347)	-	134,188

Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Condensed Consolidated Statements of Income.


						General
		Commercial	Branch	Consumer	Investment	Corporate
($ in millions)		Banking	Banking	Lending	Advisors	and Other	Eliminations	Total
Three months ended September 30, 2013
Net interest income	$	401	347	76	38	31	-	893
Provision for loan and lease losses		39	50	20	-	(58)	-	51
Net interest income after provision for loan
and lease losses		362	297	56	38	89	-	842
Noninterest income:
Service charges on deposits		67	72	-	1	-	-	140
Corporate banking revenue		100	2	-	1	(1)	-	102
Investment advisory revenue		2	35	-	95	-	(35)^(a)	97
Mortgage banking net revenue		-	3	118	-	-	-	121
Card and processing revenue		16	52	-	1	-	-	69
Other noninterest income		31	23	11	1	119	-	185
Securities gains, net		-	-	2	-	-	-	2
Securities gains, net - non-qualifying hedges on
mortgage servicing rights		-	-	5	-	-	-	5
Total noninterest income		216	187	136	99	118	(35)	721
Noninterest expense:
Salaries, wages and incentives		63	106	40	33	147	-	389
Employee benefits		11	29	9	6	28	-	83
Net occupancy expense		6	46	2	2	19	-	75
Technology and communications		4	1	-	-	47	-	52
Card and processing expense		3	30	-	-	-	-	33
Equipment expense		1	15	-	-	13	-	29
Other noninterest expense		226	167	117	66	(243)	(35)	298
Total noninterest expense		314	394	168	107	11	(35)	959
Income before income taxes		264	90	24	30	196	-	604
Applicable income tax expense		48	31	9	10	85	-	183
Net income		216	59	15	20	111	-	421
Less: Net income attributable to noncontrolling interests		-	-	-	-	-	-	-
Net income attributable to Bancorp		216	59	15	20	111	-	421
Dividends on preferred stock		-	-	-	-	-	-	-
Net income available to common shareholders	$	216	59	15	20	111	-	421
Total goodwill	$	613	1,655	-	148	-	-	2,416
Total assets	$	53,212	46,359	23,015	9,182	(6,095)	-	125,673

Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Condensed Consolidated Statements of Income.


						General
		Commercial	Branch	Consumer	Investment	Corporate
($ in millions)		Banking	Banking	Lending	Advisors	and Other	Eliminations	Total
Nine months ended September 30, 2014
Net interest income	$	1,231	1,152	193	90	31	-	2,697
Provision for loan and lease losses		184	142	55	3	(168)	-	216
Net interest income after provision for loan
and lease losses		1,047	1,010	138	87	199	-	2,481
Noninterest income:
Service charges on deposits		214	202	-	2	-	-	418
Corporate banking revenue		311	3	-	1	(4)	-	311
Investment advisory revenue		2	115	-	300	-	(110)^(a)	307
Mortgage banking net revenue		-	3	244	1	-	-	248
Card and processing revenue		48	167	-	3	-	-	218
Other noninterest income		72	43^(b)	33	1	151	-	300
Securities gains, net		-	-	-	-	18	-	18
Securities gains, net - non-qualifying hedges on
mortgage servicing rights		-	-	-	-	-	-	-
Total noninterest income		647	533	277	308	165	(110)	1,820
Noninterest expense:
Salaries, wages and incentives		192	316	74	101	400	-	1,083
Employee benefits		38	91	22	21	83	-	255
Net occupancy expense		19	140	6	7	64	-	236
Technology and communications		8	3	2	-	145	-	158
Card and processing expense		6	98	-	-	-	-	104
Equipment expense		7	45	-	-	38	-	90
Other noninterest expense		716	474	341	204	(759)	(110)	866
Total noninterest expense		986	1,167	445	333	(29)	(110)	2,792
Income (loss) before income taxes		708	376	(30)	62	393	-	1,509
Applicable income tax expense (benefit)		114	133	(11)	22	153	-	411
Net income (loss)		594	243	(19)	40	240	-	1,098
Less: Net income attributable to noncontrolling interests		-	-	-	-	2	-	2
Net income (loss) attributable to Bancorp		594	243	(19)	40	238	-	1,096
Dividends on preferred stock		-	-	-	-	44	-	44
Net income (loss) available to common shareholders	$	594	243	(19)	40	194	-	1,052
Total goodwill	$	613	1,655	-	148	-	-	2,416
Total assets	$	56,496	49,552	22,631	9,856	(4,347)	-	134,188

Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Condensed Consolidated Statements of Income.
Includes an impairment charge of $18 for branches and land. For more information refer to Note 7 and Note 22 of the Notes to Condensed Consolidated Financial Statements.


						General
		Commercial	Branch	Consumer	Investment	Corporate
($ in millions)		Banking	Banking	Lending	Advisors	and Other	Eliminations	Total
Nine months ended September 30, 2013
Net interest income	$	1,172	1,002	246	109	132	-	2,661
Provision for loan and lease losses		122	156	71	1	(174)	-	176
Net interest income after provision for loan
and lease losses		1,050	846	175	108	306	-	2,485
Noninterest income:
Service charges on deposits		198	207	-	2	-	-	407
Corporate banking revenue		300	5	-	2	-	-	307
Investment advisory revenue		4	110	-	289	-	(108)^(a)	295
Mortgage banking net revenue		-	10	563	1	-	-	574
Card and processing revenue		46	152	-	3	-	-	201
Other noninterest income		71	66	37	8	526	-	708
Securities gains, net		-	-	2	-	17	-	19
Securities gains, net - non-qualifying hedges on
mortgage servicing rights		-	-	13	-	-	-	13
Total noninterest income		619	550	615	305	543	(108)	2,524
Noninterest expense:
Salaries, wages and incentives		195	321	148	100	429	-	1,193
Employee benefits		40	93	34	20	93	-	280
Net occupancy expense		19	137	6	7	61	-	230
Technology and communications		8	3	1	-	139	-	151
Card and processing expense		6	91	-	-	-	-	97
Equipment expense		3	43	1	-	38	-	85
Other noninterest expense		640	488	366	217	(667)	(108)	936
Total noninterest expense		911	1,176	556	344	93	(108)	2,972
Income before income taxes		758	220	234	69	756	-	2,037
Applicable income tax expense		130	77	83	24	299	-	613
Net income		628	143	151	45	457	-	1,424
Less: Net income attributable to noncontrolling interests		-	-	-	-	(9)	-	(9)
Net income attributable to Bancorp		628	143	151	45	466	-	1,433
Dividends on preferred stock		-	-	-	-	18	-	18
Net income available to common shareholders	$	628	143	151	45	448	-	1,415
Total goodwill	$	613	1,655	-	148	-	-	2,416
Total assets	$	53,212	46,359	23,015	9,182	(6,095)	-	125,673

Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Condensed Consolidated Statements of Income.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details