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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Interest and fees on loans and leases $ 1,886 $ 1,687 $ 3,725 $ 3,292
Interest and dividends on securities 300 294 602 585
Interest on other earning assets 20 13 52 38
Total interest income 2,206 1,994 4,379 3,915
Interest Expense        
Interest on deposits 273 148 526 266
Interest on short-term borrowings 50 23 82 43
Interest on long-term debt 193 166 385 316
Total interest expense 516 337 993 625
Net Interest Income 1,690 1,657 3,386 3,290
Provision for credit losses 172 135 327 285
Net Interest Income After Provision for Credit Losses 1,518 1,522 3,059 3,005
Noninterest Income        
Total noninterest income 1,352 1,222 2,554 2,402
Noninterest Expense        
Personnel expense 1,120 1,074 2,207 2,113
Occupancy and equipment expense 184 187 371 381
Software expense 71 67 143 132
Outside IT services 29 32 59 64
Regulatory charges 19 39 37 79
Amortization of intangibles 32 31 64 64
Loan-related expense 30 26 55 55
Professional services 31 32 62 62
Merger-related and restructuring charges, net 23 24 103 52
Other expense 212 208 418 404
Total noninterest expense 1,751 1,720 3,519 3,406
Earnings        
Income before income taxes 1,119 1,024 2,094 2,001
Provision for income taxes 234 202 411 388
Net income 885 822 1,683 1,613
Noncontrolling interests (1) 3 5 6
Dividends on preferred stock 44 44 87 87
Net income available to common shareholders $ 842 $ 775 $ 1,591 $ 1,520
Basic EPS (in dollars per share) $ 1.10 $ 1.00 $ 2.08 $ 1.95
Diluted EPS (in dollars per share) $ 1.09 $ 0.99 $ 2.06 $ 1.93
Basic weighted average shares outstanding (in shares) 765,958 775,836 765,052 777,716
Diluted weighted average shares outstanding (in shares) 774,603 785,750 774,329 788,362
Insurance income        
Noninterest Income        
Total noninterest income $ 566 $ 481 $ 1,076 $ 917
Service charges on deposits        
Noninterest Income        
Total noninterest income 181 179 352 344
Investment banking and brokerage fees and commissions        
Noninterest Income        
Total noninterest income 131 109 242 222
Mortgage banking income        
Noninterest Income        
Total noninterest income 113 94 176 193
Trust and investment advisory revenues        
Noninterest Income        
Total noninterest income 70 72 138 144
Bankcard fees and merchant discounts        
Noninterest Income        
Total noninterest income 77 72 147 141
Checkcard fees        
Noninterest Income        
Total noninterest income 59 57 114 109
Operating lease income        
Noninterest Income        
Total noninterest income 35 36 70 73
Income from bank-owned life insurance        
Noninterest Income        
Total noninterest income 34 30 62 61
Other income        
Noninterest Income        
Total noninterest income 86 91 177 197
Securities gains (losses), net        
Noninterest Income        
Total noninterest income 0 1 0 1
Securities gains (losses), net        
Gross realized gains 20 1 42 1
Gross realized losses $ (20) $ 0 $ (42) $ 0