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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest Income      
Interest and fees on loans and leases $ 5,051 $ 4,078 $ 3,478
Interest on securities 1,162 1,080 996
Interest on other short-term investments 41 25 15
Total interest income 6,254 5,183 4,489
Interest Expense      
Interest on deposits 892 538 277
Interest on federal funds purchased 29 30 6
Interest on other short-term borrowings 28 29 30
Interest on long-term debt 508 446 378
Total interest expense 1,457 1,043 691
Net Interest Income 4,797 4,140 3,798
Provision for credit losses 471 207 261
Net Interest Income After Provision for Credit Losses 4,326 3,933 3,537
Noninterest Income:      
Corporate banking revenue 570 438 353
Service charges on deposits 565 549 554
Wealth and asset management revenue 487 444 419
Card and processing revenue 360 329 313
Mortgage banking net revenue 287 212 224
Other noninterest income 1,224 887 1,357
Securities gains (losses), net 40 (54) 2
Securities gains (losses), net - non-qualifying hedges on mortgage servcing rights 3 (15) 2
Total noninterest income 3,536 2,790 3,224
Noninterest expense:      
Salaries, wages and incentives 2,001 1,783 1,633
Employee benefits 417 332 356
Technology and communications 422 285 245
Net occupancy expense 332 292 295
Card and processing expense 130 123 129
Equipment expense 129 123 117
Other noninterest expense 1,229 1,020 1,007
Total noninterest expense 4,660 3,958 3,782
Income Before Income Taxes 3,202 2,765 2,979
Applicable income tax expense 690 572 799
Net Income 2,512 2,193 2,180
Less: Net income attributable to noncontrolling interests 0 0 0
Net Income attributable to Bancorp 2,512 2,193 2,180
Dividends on preferred stock 93 75 75
Net Income Available to Common Shareholders $ 2,419 $ 2,118 $ 2,105
Shares Disclosures      
Earnings per share - basic $ 3.38 $ 3.11 $ 2.86
Earnings per share - diluted $ 3.33 $ 3.06 $ 2.81
Average common shares outstanding - basic 710,433,611 673,346,168 728,289,200
Average common shares outstanding - diluted 720,065,498 685,488,498 740,691,433