Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.20.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest and fee income:    
Loans and leases $ 809 $ 901
Available-for-sale securities    
Taxable 76 76
Tax-exempt 18 22
Held-to-maturity securities—taxable 59 54
Other securities—taxable 2 6
Other 11 11
Total interest income 975 1,070
Interest expense:    
Deposits 105 145
Short-term borrowings 12 14
Long-term debt 68 89
Total interest expense 185 248
Net interest income 790 822
Provision for credit losses 441 67
Net interest income after provision for credit losses 349 755
Service charges on deposit accounts 87 87
Card and payment processing income 58 56
Trust and investment management services 47 44
Mortgage banking income 58 21
Capital markets fees 33 22
Insurance income 23 21
Bank Owned Life Insurance Income 16 16
Gain (Loss) on Sales of Loans, Net 8 13
Net (losses) gains on sales of securities 0 0
Noninterest Income, Other Operating Income 31 39
Total noninterest income 361 319
Personnel costs 395 394
Outside data processing and other services 85 81
Equipment 41 40
Net occupancy 40 42
Professional services 11 12
Amortization of intangibles 11 13
Marketing 9 7
Deposit and other insurance expense 9 8
Other noninterest expense 51 56
Total noninterest expense 652 653
Income before income taxes 58 421
Provision for income taxes 10 63
Net income 48 358
Dividends on preferred shares 18 19
Net income applicable to common shares $ 30 $ 339
Average common shares—basic (in shares) 1,017,643 1,046,995
Average common shares—diluted (in shares) 1,034,576 1,065,638
Per common share:    
Net income—basic (in usd per share) $ 0.03 $ 0.32
Net income—diluted (in usd per share) $ 0.03 $ 0.32