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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Interest and fees on loans and leases $ 2,901 $ 3,377 $ 5,903 $ 7,153
Interest on securities 497 444 940 938
Interest on other earning assets 45 67 94 223
Total interest income 3,443 3,888 6,937 8,314
Interest Expense        
Interest on deposits 36 201 83 622
Interest on long-term debt 147 211 295 483
Interest on other borrowings 15 28 29 111
Total interest expense 198 440 407 1,216
Net Interest Income 3,245 3,448 6,530 7,098
Provision for credit losses (434) 844 (386) 1,737
Net Interest Income After Provision for Credit Losses 3,679 2,604 6,916 5,361
Noninterest Income        
Noninterest income 2,405 2,423 4,602 4,384
Noninterest Expense        
Personnel expense 2,207 2,008 4,349 3,980
Professional fees and outside processing 341 289 691 536
Net occupancy expense 182 243 391 464
Software expense 246 216 456 426
Amortization of intangibles 142 178 286 343
Equipment expense 122 120 235 236
Marketing and customer development 66 56 132 140
Operating lease depreciation 47 77 97 148
Loan-related expense 55 56 109 118
Regulatory costs 31 30 56 59
Merger-related and restructuring charges 297 209 438 316
Loss (gain) on early extinguishment of debt 0 235 (3) 235
Other expense 275 161 384 308
Total noninterest expense 4,011 3,878 7,621 7,309
Earnings        
Income before income taxes 2,073 1,149 3,897 2,436
Provision for income taxes 415 191 766 415
Net income 1,658 958 3,131 2,021
Noncontrolling interests 1 3 (3) 6
Net income available to the bank holding company 1,657 955 3,134 2,015
Preferred stock dividends and other 98 53 241 127
Net income available to common shareholders $ 1,559 $ 902 $ 2,893 $ 1,888
Basic EPS $ 1.16 $ 0.67 $ 2.16 $ 1.40
Diluted EPS $ 1.16 $ 0.67 $ 2.14 $ 1.39
Basic weighted average shares outstanding (in shares) 1,338,302 1,347,512 1,341,963 1,345,942
Diluted weighted average shares outstanding (in shares) 1,349,492 1,355,834 1,354,210 1,356,809
Insurance income        
Noninterest Income        
Noninterest income $ 690 $ 581 $ 1,316 $ 1,130
Wealth management income        
Noninterest Income        
Noninterest income 345 289 686 621
Service charges on deposits        
Noninterest Income        
Noninterest income 253 202 511 507
Residential mortgage income        
Noninterest Income        
Noninterest income 117 341 217 586
Investment banking and trading income        
Noninterest Income        
Noninterest income 317 274 657 392
Card and payment related fees        
Noninterest Income        
Noninterest income 225 171 425 358
Lending related fees        
Noninterest Income        
Noninterest income 94 66 194 133
Operating lease income        
Noninterest Income        
Noninterest income 66 83 134 160
Commercial real estate related income        
Noninterest Income        
Noninterest income 138 49 181 93
Income from bank-owned life insurance        
Noninterest Income        
Noninterest income 46 45 96 89
Securities gains (losses)        
Noninterest Income        
Noninterest income 0 300 0 298
Other income        
Noninterest Income        
Noninterest income $ 114 $ 22 $ 185 $ 17