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CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Interest and fees on loans and leases $ 996 $ 858 $ 1,933 $ 1,696
Interest on securities 267 245 530 490
Interest on other short-term investments 6 3 11 6
Total interest income 1,269 1,106 2,474 2,192
Interest Expense        
Interest on deposits 119 65 215 124
Interest on federal funds purchased 5 1 7 2
Interest on other short-term borrowings 11 10 19 12
Interest on long-term debt 114 91 217 182
Total interest expense 249 167 458 320
Net Interest Income 1,020 939 2,016 1,872
Provision for loan and lease losses 33 52 56 126
Net Interest Income After Provision for Loan and Lease Losses 987 887 1,960 1,746
Noninterest Income        
Service charges on deposits 137 139 275 277
Wealth and asset management revenue 108 103 221 211
Corporate banking revenue 120 101 208 175
Card and processing revenue 84 79 163 153
Mortgage banking net revenue 53 55 109 108
Other noninterest income 250 85 708 160
Securities gains (losses), net (5) 0 (15) 1
Securities gains (losses), net - non-qualifying hedges on mortgage servcing rights (4) 2 (17) 2
Total noninterest income 743 564 1,652 1,087
Noninterest Expense        
Salaries, wages and incentives 471 397 918 808
Employee benefits 78 86 188 196
Net occupancy expense 74 70 149 148
Technology and communications 67 57 135 116
Equipment expense 30 29 61 57
Card and processing expense 30 33 60 63
Other noninterest expense 287 285 572 555
Total noninterest expense 1,037 957 2,083 1,943
Income (Loss) Before Income Taxes 693 494 1,529 890
Applicable income tax expense 107 127 239 218
Net Income (loss) 586 367 1,290 672
Less: Net income attributable to noncontrolling interests 0 0 0 0
Net income attributable to Bancorp 586 367 1,290 672
Dividends on preferred stock 23 23 38 38
Net income (loss) available to common shareholders $ 563 $ 344 $ 1,252 $ 634
Earnings per share - basic $ 0.81 $ 0.46 $ 1.8 $ 0.84
Earnings per share - diluted $ 0.8 $ 0.45 $ 1.77 $ 0.83
Average common shares outstanding- basic 683,344,844 741,400,700 686,564,682 744,516,799
Average common shares oustanding - diluted 696,209,943 752,328,298 700,133,642 756,545,341
Common stock dividends declared per share $ 0.18 $ 0.14 $ 0.34 $ 0.28