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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Interest and fees on loans and leases $ 4,976 $ 3,490 $ 14,547 $ 9,032
Interest on securities 763 709 2,264 2,024
Interest on other earning assets 490 170 1,379 343
Total interest income 6,229 4,369 18,190 11,399
Interest Expense        
Interest on deposits 1,831 331 4,462 462
Interest on long-term debt 491 190 1,739 459
Interest on other borrowings 343 103 932 143
Total interest expense 2,665 624 7,133 1,064
Net Interest Income 3,564 3,745 11,057 10,335
Provision for credit losses 497 234 1,537 310
Net Interest Income After Provision for Credit Losses 3,067 3,511 9,520 10,025
Noninterest Income        
Noninterest income 2,108 2,102 6,635 6,492
Noninterest Expense        
Personnel expense 2,200 2,116 6,637 6,269
Professional fees and outside processing 317 352 983 1,064
Software expense 238 225 689 691
Net occupancy expense 180 176 543 565
Amortization of intangibles 130 140 397 420
Equipment expense 97 122 299 354
Marketing and customer development 78 105 235 282
Operating lease depreciation 43 45 133 140
Regulatory costs 77 52 225 131
Merger-related and restructuring charges 75 62 192 399
Other expense 312 218 853 552
Total noninterest expense 3,747 3,613 11,186 10,867
Earnings        
Income before income taxes 1,428 2,000 4,969 5,650
Provision for income taxes 245 363 926 1,065
Net income 1,183 1,637 4,043 4,585
Noncontrolling interests 6 4 44 6
Preferred stock dividends and other 106 97 284 262
Net income available to common shareholders $ 1,071 $ 1,536 $ 3,715 $ 4,317
Basic EPS $ 0.80 $ 1.16 $ 2.79 $ 3.25
Diluted EPS $ 0.80 $ 1.15 $ 2.77 $ 3.22
Basic weighted average shares outstanding (in shares) 1,333,522 1,326,539 1,331,377 1,328,569
Diluted weighted average shares outstanding (in shares) 1,340,574 1,336,659 1,339,041 1,339,071
Insurance income        
Noninterest Income        
Noninterest income $ 793 $ 725 $ 2,541 $ 2,277
Wealth management income        
Noninterest Income        
Noninterest income 343 334 1,012 1,014
Investment banking and trading income        
Noninterest Income        
Noninterest income 185 222 657 738
Service charges on deposits        
Noninterest Income        
Noninterest income 152 263 641 769
Card and payment related fees        
Noninterest Income        
Noninterest income 238 241 704 699
Mortgage banking income        
Noninterest Income        
Noninterest income 102 122 343 343
Lending related fees        
Noninterest Income        
Noninterest income 102 80 294 265
Operating lease income        
Noninterest Income        
Noninterest income 63 66 194 190
Securities gains (losses)        
Noninterest Income        
Noninterest income 0 (1) 0 (71)
Other income        
Noninterest Income        
Noninterest income $ 130 $ 50 $ 249 $ 268