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CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Interest and fees on loans and leases $ 1,320 $ 1,040 $ 3,799 $ 2,975
Interest on securities 291 269 862 798
Interest on other short-term investments 14 6 33 17
Total interest income 1,625 1,315 4,694 3,790
Interest Expense        
Interest on deposits 243 144 692 359
Interest on federal funds purchased 4 10 23 17
Interest on other short-term borrowings 8 6 23 25
Interest on long-term debt 128 112 387 330
Total interest expense 383 272 1,125 731
Net Interest Income 1,242 1,043 3,569 3,059
Provision for credit losses 134 84 310 111
Net Interest Income After Provision for Credit Losses 1,108 959 3,259 2,948
Noninterest Income        
Service charges on deposits 143 139 417 414
Wealth and asset management revenue 124 114 358 335
Corporate banking revenue 168 100 417 308
Card and processing revenue 94 82 266 245
Mortgage banking net revenue 95 49 214 158
Other noninterest income 111 86 794 794
Securities gains (losses), net 5 (6) 30 (21)
Securities gains (losses), net - non-qualifying hedges on mortgage servcing rights 0 (1) 5 (18)
Total noninterest income 740 563 2,501 2,215
Noninterest Expense        
Salaries, wages and incentives 497 421 1,527 1,339
Employee benefits 87 82 316 270
Net occupancy expense 84 70 248 219
Technology and communications 100 71 319 206
Equipment expense 33 31 96 92
Card and processing expense 33 31 98 91
Other noninterest expense 325 266 895 767
Total noninterest expense 1,159 972 3,499 2,984
Income (Loss) Before Income Taxes 689 550 2,261 2,179
Applicable income tax expense 140 114 483 442
Net Income (loss) 549 436 1,778 1,737
Less: Net income attributable to noncontrolling interests 0 0 0 0
Net income attributable to Bancorp 549 436 1,778 1,737
Dividends on preferred stock 19 15 60 52
Net income (loss) available to common shareholders $ 530 $ 421 $ 1,718 $ 1,685
Earnings per share - basic $ 0.72 $ 0.62 $ 2.40 $ 2.45
Earnings per share - diluted $ 0.71 $ 0.61 $ 2.37 $ 2.41
Average common shares outstanding- basic 726,715,542 667,624,132 708,848,535 680,181,785
Average common shares oustanding - diluted 736,086,399 679,198,715 718,413,237 693,078,647