Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)

v3.19.3.a.u2
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly results of operations
The following is a summary of the quarterly results of operations, for the years ended December 31, 2019 and 2018:
 
Three Months Ended
 
December 31,
 
September 30,
 
June 30,
 
March 31,
(dollar amounts in millions, except per share data)
2019
 
2019
 
2019
 
2019
Interest income
$
1,011

 
$
1,052

 
$
1,068

 
$
1,070

Interest expense
231

 
253

 
256

 
248

Net interest income
780

 
799

 
812

 
822

Provision for credit losses
79

 
82

 
59

 
67

Noninterest income
372

 
389

 
374

 
319

Noninterest expense
701

 
667

 
700

 
653

Income before income taxes
372

 
439

 
427

 
421

Provision for income taxes
55

 
67

 
63

 
63

Net income
317

 
372

 
364

 
358

Dividends on preferred shares
19

 
18

 
18

 
19

Net income applicable to common shares
$
298

 
$
354

 
$
346

 
$
339

Net income per common share — Basic
$
0.29

 
$
0.34

 
$
0.33

 
$
0.32

Net income per common share — Diluted
0.28

 
0.34

 
0.33

 
0.32

 
Three Months Ended
 
December 31,
 
September 30,
 
June 30,
 
March 31,
(dollar amounts in millions, except per share data)
2018
 
2018
 
2018
 
2018
Interest income
$
1,056

 
$
1,007

 
$
972

 
$
914

Interest expense
223

 
205

 
188

 
144

Net interest income
833

 
802

 
784

 
770

Provision for credit losses
60

 
53

 
56

 
66

Noninterest income
329

 
342

 
336

 
314

Noninterest expense
711

 
651

 
652

 
633

Income before income taxes
391

 
440

 
412

 
385

Provision (benefit) for income taxes
57

 
62

 
57

 
59

Net income
334

 
378

 
355

 
326

Dividends on preferred shares
19

 
18

 
21

 
12

Net income applicable to common shares
$
315

 
$
360

 
$
334

 
$
314

Net income per common share — Basic
$
0.30

 
$
0.33

 
$
0.30

 
$
0.29

Net income per common share — Diluted
0.29

 
0.33

 
0.30

 
0.28