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CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Interest and fees on loans and leases $ 858 $ 808 [1] $ 1,696 $ 1,613
Interest on securities 245 236 [1] 490 468
Interest on other short-term investments 3 2 [1] 6 4
Total interest income 1,106 1,046 [1] 2,192 2,085
Interest Expense        
Interest on deposits 65 50 [1] 124 99
Interest on federal funds purchased 1 1 [1] 2 1
Interest on other short-term borrowings 10 3 [1] 12 7
Interest on long-term debt 91 90 [1] 182 173
Total interest expense 167 144 [1] 320 280
Net Interest Income 939 902 [1],[2] 1,872 1,805 [3]
Provision for loan and lease losses 52 91 [1],[2] 126 210 [3],[4]
Net Interest Income After Provision for Loan and Lease Losses 887 811 [1],[2] 1,746 1,595 [3]
Noninterest Income        
Service charges on deposits 139 138 [1] 277 274
Wealth and asset management revenue 103 101 [1] 211 203
Corporate banking revenue 101 117 [1] 175 219
Card and processing revenue 79 82 [1] 153 161
Mortgage banking net revenue 55 75 [1] 108 154
Other noninterest income 85 80 [1] 160 215
Securities gains, net 0 6 [1] 1 9
Securities gains, net - non-qualifying hedges on mortgage servcing rights 2 0 2 0
Total noninterest income 564 599 [1],[2] 1,087 1,235 [3]
Noninterest Expense        
Salaries, wages and incentives 397 407 [1] 808 810
Employee benefits 86 85 [1] 196 185
Net occupancy expense 70 75 [1] 148 152
Technology and communications 57 60 [1] 116 116
Card and processing expense 33 37 [1] 63 72
Equipment expense 29 30 [1] 57 60
Other noninterest expense 285 289 [1] 555 573
Total noninterest expense 957 983 [1],[2] 1,943 1,968 [3]
Income (Loss) Before Income Taxes 494 427 [1],[2] 890 862 [3]
Applicable income tax expense 127 103 [1],[2] 218 212 [3]
Net Income (loss) 367 324 [1],[2],[5] 672 650 [3],[4],[5]
Less: Net income attributable to noncontrolling interests 0 (4) [1],[2] 0 (4) [3]
Net income attributable to Bancorp 367 328 [1],[2],[6] 672 654 [3]
Dividends on preferred stock 23 23 [1],[2],[6] 38 38 [3]
Net income (loss) available to common shareholders $ 344 $ 305 [2],[7] $ 634 $ 616 [3],[6]
Earnings per share - basic $ 0.46 $ 0.4 [7] $ 0.84 $ 0.8 [6]
Earnings per share - diluted $ 0.45 $ 0.39 [7] $ 0.83 $ 0.79 [6]
Average common shares outstanding- basic 741,400,700 759,105,385 [7] 744,516,799 766,334,781 [6]
Average common shares oustanding - diluted 752,328,298 764,811,003 [7] 756,545,341 771,284,468 [6]
Common stock dividends declared per share $ 0.14 $ 0.13 [1] $ 0.28 $ 0.26
[1]

Net tax deficiencies of $ 5 and $6 were reclassified from capital surplus to applicable income tax expense and average common shares out standing – diluted were adjusted for t he three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

[2]

A net tax deficiency of $ 5 was reclassified from capital surplus to applicable income tax expense for the three months ended June 30, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effe ctive date of January 1, 2016.

[3]

Net tax deficiencies of $ 6 were reclassified from capital surplus to applicable income tax expense for the six months ended June 30, 2016 related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective d ate of January 1, 2016

[4]

Net tax deficiencies of $ 6 were reclassified from capital surplus to applicable income tax expense for the six months ended June 30, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

[5]

Net tax deficiencies of $5 and $6 were reclassified from capital surplus to applicable income tax expense for the three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an ef fective date of January 1, 2016.

[6]

Net tax deficiencies of $6 were reclassified from capital surplus to applicable income tax expense and average common shares outstanding - diluted were adjusted for the six months ended June 30, 2016 related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016 .

[7]

A net tax deficiency of $5 was reclassified from capital surplus to applicable income tax expense and average common shares outstanding - diluted were adjusted for the three months ended June 30, 2016 related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016