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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Interest and fees on loans and leases $ 4,879 $ 4,915 $ 9,744 $ 9,571
Interest on securities 838 749 1,643 1,501
Interest on other earning assets 634 511 1,148 887
Total interest income 6,351 6,175 12,535 11,959
Interest Expense        
Interest on deposits 2,016 1,527 3,980 2,652
Interest on long-term debt 446 734 928 1,248
Interest on other borrowings 362 311 728 589
Total interest expense 2,824 2,572 5,636 4,489
Net Interest Income 3,527 3,603 6,899 7,470
Provision for credit losses 451 538 951 1,040
Net Interest Income After Provision for Credit Losses 3,076 3,065 5,948 6,430
Noninterest Income        
Noninterest Income (5,212) 1,380 (3,766) 2,801
Noninterest Expense        
Personnel expense 1,661 1,705 3,291 3,373
Professional fees and outside processing 308 311 586 598
Software expense 218 223 442 423
Net occupancy expense 160 166 320 335
Amortization of Intangible Assets 89 99 177 199
Equipment expense 89 87 177 189
Marketing and customer development 63 69 119 137
Operating lease depreciation 34 44 74 90
Regulatory costs 85 73 237 148
Restructuring charges 33 48 84 104
Other expense 354 221 540 465
Total noninterest expense 3,094 3,046 6,047 6,061
Earnings        
Income (loss) before income taxes (5,230) 1,399 (3,865) 3,170
Provision (benefit) for income taxes (1,324) 230 (1,092) 591
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (3,906) 1,169 (2,773) 2,579
Net income from discontinued operations 4,828 176 4,895 281
Net income (loss) 922 1,345 2,122 2,860
Net Income (Loss) Attributable to Noncontrolling Interest 19 36 22 38
Preferred stock dividends and other 77 75 183 178
Net income available to common shareholders $ 826 $ 1,234 $ 1,917 $ 2,644
Basic earnings from continuing operations $ (2.98) $ 0.82 $ (2.21) $ 1.80
Basic EPS 0.62 0.93 1.43 1.99
Diluted earnings from continuing operations (2.98) 0.82 (2.21) 1.79
Diluted EPS $ 0.62 $ 0.92 $ 1.43 $ 1.98
Basic weighted average shares outstanding 1,338,149 1,331,953 1,336,620 1,330,286
Diluted weighted average shares outstanding 1,338,149 1,337,307 1,336,620 1,338,346
Wealth management income        
Noninterest Income        
Noninterest Income $ 361 $ 330 $ 717 $ 669
Investment banking and trading income        
Noninterest Income        
Noninterest Income 286 211 609 472
Card and payment related fees        
Noninterest Income        
Noninterest Income 230 236 454 466
Service charges on deposits        
Noninterest Income        
Noninterest Income 232 240 457 490
Mortgage banking income        
Noninterest Income        
Noninterest Income 112 99 209 241
Lending related fees        
Noninterest Income        
Noninterest Income 89 86 185 192
Operating lease income        
Noninterest Income        
Noninterest Income 50 64 109 131
Securities gains (losses)        
Noninterest Income        
Noninterest Income (6,650) 0 (6,650) 0
Other income        
Noninterest Income        
Noninterest Income $ 78 $ 114 $ 144 $ 140