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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Interest and fees on loans and leases $ 996 $ 941 $ 2,923 $ 2,624
Interest and fees on loans held for sale 10 15 27 40
Interest on investment securities 60 62 179 186
Interest on trading securities 22 19 64 57
Interest on other earning assets 31 43 91 107
Total interest income 1,119 1,080 3,284 3,014
Interest expense        
Interest on deposits 434 409 1,231 845
Interest on trading liabilities 6 3 18 8
Interest on short-term borrowings 35 46 104 182
Interest on term borrowings 17 17 50 56
Total interest expense 492 475 1,403 1,091
Net interest income 627 605 1,881 1,923
Provision for credit losses 35 110 140 210
Net interest income after provision for credit losses 592 495 1,741 1,713
Noninterest income        
Fixed income 47 28 138 97
Deposit transactions and cash management 45 46 134 133
Brokerage, management fees and commissions 27 21 76 66
Card and digital banking fees 19 20 58 61
Other service charges and fees 13 14 40 41
Trust services and investment management 12 12 36 35
Mortgage banking income 9 7 28 18
Gain on merger termination 0 0 0 225
Securities gains (losses), net 1 0 2 1
Other income 27 25 69 68
Total noninterest income 200 173 581 745
Noninterest expense        
Personnel expense 282 266 862 821
Net occupancy expense 33 30 95 92
Computer software 30 26 89 82
Operations services 25 21 69 65
Legal and professional fees 15 13 47 33
Advertising and public relations 14 16 37 47
Contract employment and outsourcing 12 12 40 36
Deposit insurance expense 11 14 51 40
Amortization of intangible assets 11 12 33 36
Equipment expense 10 11 32 32
Communications and delivery 8 8 24 27
Contributions 4 3 6 60
Other expense 56 42 142 137
Total noninterest expense 511 474 1,527 1,508
Income before income taxes 281 194 795 950
Income tax expense 58 52 171 223
Net income 223 142 624 727
Net income attributable to noncontrolling interest 5 5 15 14
Net income attributable to controlling interest 218 137 609 713
Preferred stock dividends 5 8 28 24
Net income available to common shareholders 213 129 581 689
Net income available to common shareholders $ 213 $ 129 $ 581 $ 689
Basic earnings per common share (in dollars per share) $ 0.40 $ 0.23 $ 1.07 $ 1.26
Diluted earnings per common share (in dollars per share) $ 0.40 $ 0.23 $ 1.06 $ 1.23
Weighted average common shares (in shares) 534,222 558,559 544,356 544,952
Diluted average common shares (in shares) 537,971 561,421 547,629 561,930