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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Loans and leases, including fees $ 455 $ 297 $ 1,278 $ 760
Securities:        
Taxable 38 31 109 82
Tax-exempt 7 7 21 20
Other 13 8 33 15
Total Interest Income 513 343 1,441 877
Interest Expense        
Deposits 139 31 335 54
Short-term borrowings 23 6 55 17
Long-term borrowings 25 9 59 21
Total Interest Expense 187 46 449 92
Net Interest Income 326 297 992 785
Provision for credit losses 25 12 58 36
Net Interest Income After Provision for Credit Losses 301 285 934 749
Non-Interest Income        
Service charges 35 36 101 102
Trust services 11 10 32 30
Insurance commissions and fees 5 6 19 20
Securities commissions and fees 7 6 21 18
Capital markets income 7 10 20 25
Mortgage banking operations 4 5 14 18
Dividends on non-marketable equity securities 5 3 15 8
Bank owned life insurance 3 2 9 9
Other 4 5 10 13
Total Non-Interest Income 81 83 241 243
Non-Interest Expense        
Salaries and employee benefits 114 107 348 323
Net occupancy 18 16 52 50
Equipment 24 20 67 56
Amortization of intangibles 5 3 15 10
Outside services 21 19 61 53
Marketing 5 3 13 11
FDIC insurance 8 5 23 15
Bank shares and franchise taxes 4 4 12 12
Merger-related 0 2 2 33
Other 19 16 57 52
Total Non-Interest Expense 218 195 650 615
Income Before Income Taxes 164 173 525 377
Income taxes 19 35 91 77
Net Income 145 138 434 300
Preferred stock dividends 2 2 6 6
Net income available to common stockholders 143 136 428 294
Net income available to common stockholders $ 143 $ 136 $ 428 $ 294
Earnings per Common Share        
Basic (USD per share) $ 0.40 $ 0.39 $ 1.19 $ 0.84
Diluted (USD per share) $ 0.40 $ 0.38 $ 1.18 $ 0.83