Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.19.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and fee income:    
Loans and leases $ 901 $ 756
Available-for-sale securities    
Taxable 76 70
Tax-exempt 22 23
Held-to-maturity securities—taxable 54 54
Other securities—taxable 6 6
Other 11 5
Total interest income 1,070 914
Interest expense:    
Deposits 145 60
Short-term borrowings 14 19
Subordinated notes and other long-term debt 89 65
Total interest expense 248 144
Net interest income 822 770
Provision for credit losses 67 66
Net interest income after provision for credit losses 755 704
Service charges on deposit accounts 87 86
Cards and payment processing income 56 53
Trust and investment management services 44 44
Mortgage banking income 21 26
Capital markets fees 22 21
Insurance income 21 21
Bank owned life insurance income 16 15
Gain on sale of loans and leases 13 8
Other noninterest income 39 40
Total noninterest income 319 314
Personnel costs 394 376
Outside data processing and other services 81 73
Net occupancy 42 41
Equipment 40 40
Deposit and other insurance expense 8 18
Professional services 12 11
Marketing 7 8
Amortization of intangibles 13 14
Other noninterest expense 56 52
Total noninterest expense 653 633
Income before income taxes 421 385
Provision for income taxes 63 59
Net income 358 326
Dividends on preferred shares 19 12
Net income applicable to common shares $ 339 $ 314
Average common shares—basic (in shares) 1,046,995 1,083,836
Average common shares—diluted (in shares) 1,065,638 1,124,778
Per common share:    
Net income—basic (in usd per share) $ 0.32 $ 0.29
Net income—diluted (in usd per share) $ 0.32 $ 0.28