EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:

TABLE 15.1

	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in millions, except per share data)	2021		2020		2021		2020
Net income	$	102	$	84	$	195	$	131
Less: Preferred stock dividends	2		2		4		4
Net income available to common stockholders	$	100	$	82	$	191	$	127
Basic weighted average common shares outstanding	319,599,352		323,304,237		320,283,480		323,775,973
Net effect of dilutive stock options, warrants and restricted stock	3,728,813		1,848,335		3,744,783		1,939,894
Diluted weighted average common shares outstanding	323,328,165		325,152,572		324,028,263		325,715,867
Earnings per common share:
Basic	$	0.31	$	0.25	$	0.60	$	0.39
Diluted	$	0.31	$	0.25	$	0.59	$	0.39

Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation

The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: 

TABLE 15.2

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Average shares excluded from the diluted earnings per common share calculation	—	40,778	—	15,301