Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.10.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest and fee income:      
Loans and leases $ 3,305 $ 2,838 $ 2,178
Available-for-sale securities      
Taxable 279 283 211
Tax-exempt 97 77 59
Held-to-maturity securities-taxable 211 193 138
Interest Income, Securities, Operating, Other, Taxable 25 20 12
Other interest income 32 22 34
Total interest income 3,949 3,433 2,632
Interest expense      
Deposits 391 180 102
Short-term borrowings 48 25 5
Long-term debt 321 226 156
Total interest expense 760 431 263
Net interest income 3,189 3,002 2,369
Provision for credit losses 235 201 191
Net interest income after provision for credit losses 2,954 2,801 2,178
Service charges on deposit accounts 364 353 324
Card and payment processing income 224 206 169
Fees and Commissions, Fiduciary and Trust Activities 171 156 123
Mortgage banking income 108 131 128
Capital markets fees 91 76 60
Insurance income 82 81 84
Bank owned life insurance income 67 67 58
Gain on sale of loans and leases 55 56 47
Net (losses) gains on sales of securities (21) 0 2
Impairment losses recognized in earnings on available-for-sale securities 0 (4) (2)
Other income 180 185 157
Total noninterest income 1,321 1,307 1,150
Personnel costs 1,559 1,524 1,349
Outside data processing and other services 294 313 305
Net occupancy 184 212 153
Equipment 164 171 165
Deposit and other insurance expense 63 78 54
Professional services 60 69 105
Marketing 53 60 63
Amortization of intangibles 53 56 30
Other expense 217 231 184
Total noninterest expense 2,647 2,714 2,408
Income before income taxes 1,628 1,394 920
Provision for income taxes 235 208 208
Net income 1,393 1,186 712
Dividends on preferred shares 70 76 65
Net income available to common shareholders $ 1,323 $ 1,110 $ 647
Average common shares—basic (in shares) 1,081,542 1,084,686 904,438
Average common shares—diluted (in shares) 1,105,985 1,136,186 918,790
Per common share:      
Net income - basic (in USD per share) $ 1.22 $ 1.02 $ 0.72
Net income - diluted (in USD per share) $ 1.20 $ 1.00 $ 0.70
Impairment losses on available-for-sale securities:      
Total OTTI losses $ 0 $ (4) $ (6)
Noncredit-related portion of loss recognized in other comprehensive income 0 0 4
Impairment losses recognized in earnings on available-for-sale securities $ 0 $ (4) $ (2)