Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.19.3
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and fee income:        
Loans and leases $ 889 $ 848 $ 2,692 $ 2,414
Available-for-sale securities        
Taxable 74 68 222 209
Tax-exempt 20 24 64 71
Held-to-maturity securities—taxable 54 52 164 159
Other securities—taxable 3 6 13 19
Other 12 9 35 21
Total interest income 1,052 1,007 3,190 2,893
Interest expense:        
Deposits 154 112 449 259
Short-term borrowings 13 9 46 42
Subordinated notes and other long-term debt 86 84 262 236
Total interest expense 253 205 757 537
Net interest income 799 802 2,433 2,356
Provision for credit losses 82 53 208 175
Net interest income after provision for credit losses 717 749 2,225 2,181
Service charges on deposit accounts 98 93 277 270
Cards and payment processing income 64 57 183 166
Trust and investment management services 44 43 131 129
Mortgage banking income 54 31 109 85
Capital markets fees 36 26 92 74
Insurance income 20 19 64 61
Bank Owned Life Insurance Income 18 19 49 51
Gain (Loss) on Sales of Loans, Net 13 16 39 39
Net (losses) gains on sales of securities 0 (2) (2) (2)
Noninterest Income, Other Operating Income 42 40 140 119
Total noninterest income 389 342 1,082 992
Personnel costs 406 388 1,228 1,160
Outside data processing and other services 87 69 257 211
Net occupancy 38 38 118 114
Equipment 41 38 121 116
Deposit and other insurance expense 8 18 24 54
Professional services 16 17 40 43
Marketing 10 12 28 38
Amortization of intangibles 12 13 37 40
Other noninterest expense 49 58 167 160
Total noninterest expense 667 651 2,020 1,936
Income before income taxes 439 440 1,287 1,237
Provision for income taxes 67 62 193 178
Net income 372 378 1,094 1,059
Dividends on preferred shares 18 18 55 51
Net income applicable to common shares $ 354 $ 360 $ 1,039 $ 1,008
Average common shares—basic (in shares) 1,034,940 1,084,536 1,042,246 1,090,570
Average common shares—diluted (in shares) 1,051,273 1,103,740 1,059,064 1,116,978
Per common share:        
Net income—basic (in usd per share) $ 0.34 $ 0.33 $ 1.00 $ 0.92
Net income—diluted (in usd per share) $ 0.34 $ 0.33 $ 0.98 $ 0.90