Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

v3.8.0.1
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following is a summary of the quarterly results of operations, for the years ended December 31, 2017 and 2016:
 
Three Months Ended
 
December 31,
 
September 30,
 
June 30,
 
March 31,
(dollar amounts in millions, except per share data)
2017
 
2017
 
2017
 
2017
Interest income
$
894

 
$
873

 
$
846

 
$
820

Interest expense
124

 
115

 
101

 
91

Net interest income
770

 
758

 
745

 
729

Provision for credit losses
65

 
43

 
25

 
68

Noninterest income
340

 
330

 
325

 
312

Noninterest expense
633

 
680

 
694

 
707

Income before income taxes
412

 
365

 
351

 
266

Provision (benefit) for income taxes
(20
)
 
90

 
79

 
59

Net income
432

 
275

 
272

 
207

Dividends on preferred shares
19

 
19

 
19

 
19

Net income applicable to common shares
$
413

 
$
256

 
$
253

 
$
188

Net income per common share — Basic
$
0.38

 
$
0.24

 
$
0.23

 
$
0.17

Net income per common share — Diluted
0.37

 
0.23

 
0.23

 
0.17

 
Three Months Ended
 
December 31,
 
September 30,
 
June 30,
 
March 31,
(dollar amounts in millions, except per share data)
2016
 
2016
 
2016
 
2016
Interest income
$
815

 
$
694

 
$
566

 
$
557

Interest expense
80

 
69

 
60

 
54

Net interest income
735

 
625

 
506

 
503

Provision for credit losses
75

 
63

 
25

 
28

Noninterest income
334

 
303

 
271

 
242

Noninterest expense
681

 
713

 
523

 
491

Income before income taxes
313

 
152

 
229

 
226

Provision (benefit) for income taxes
74

 
25

 
54

 
55

Net income
239

 
127

 
175

 
171

Dividends on preferred shares
19

 
18

 
20

 
8

Net income applicable to common shares
$
220

 
$
109

 
$
155

 
$
163

Net income per common share — Basic
$
0.20

 
$
0.12

 
$
0.19

 
$
0.21

Net income per common share — Diluted
0.20

 
0.11

 
0.19

 
0.20