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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income    
Interest and fees on loans and leases $ 806 $ 444
Interest and fees on loans held for sale 11 10
Interest on investment securities 62 38
Interest on trading securities 20 11
Interest on other earning assets 21 7
Total interest income 920 510
Interest expense    
Interest on deposits 171 11
Interest on trading liabilities 3 2
Interest on short-term borrowings 38 1
Interest on term borrowings 20 17
Total interest expense 232 31
Net interest income 688 479
Provision for credit losses 50 (40)
Net interest income after provision for credit losses 638 519
Noninterest income    
Deposit transactions and cash management 42 44
Fixed income 39 73
Brokerage, management fees and commissions 22 24
Card and digital banking fees 20 20
Other service charges and fees 13 13
Trust services and investment management 11 13
Mortgage banking and title income 5 22
Securities gains (losses), net 0 6
Other income 19 14
Noninterest income 171 229
Noninterest expense    
Personnel expense 271 280
Net occupancy expense 31 32
Computer software 28 29
Operations services 22 20
Advertising and public relations 14 11
Contract employment and outsourcing 12 19
Amortization of intangible assets 12 13
Equipment expense 11 11
Communications and delivery 9 10
Legal and professional fees 8 23
Other expense 60 45
Total noninterest expense 478 493
Income (loss) before income taxes 331 255
Income tax expense 76 57
Net income 255 198
Net income attributable to noncontrolling interest 4 3
Net income attributable to controlling interest 251 195
Preferred stock dividends 8 8
Net income available to common shareholders 243 187
Net income available to common shareholders $ 243 $ 187
Basic earnings per common share (in dollars per share) $ 0.45 $ 0.35
Diluted earnings per common share (in dollars per share) $ 0.43 $ 0.34
Weighted average common shares (in shares) 536,938 533,218
Diluted average common shares (in shares) 571,991 549,809