Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.8.0.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and fee income:    
Loans and leases $ 756 $ 676
Available-for-sale securities    
Taxable 70 71
Tax-exempt 23 19
Held-to-maturity securities—taxable 54 45
Interest Income, Securities, Operating, Other, Taxable 6 5
Interest Income, Securities, Operating, Other, Tax Exempt 0 0
Other 5 4
Total interest income 914 820
Interest expense:    
Deposits 60 35
Short-term borrowings 19 6
Federal Home Loan Bank advances 0 0
Subordinated notes and other long-term debt 65 49
Total interest expense 144 90
Net interest income 770 730
Provision for credit losses 66 68
Net interest income after provision for credit losses 704 662
Service charges on deposit accounts 86 83
Cards and payment processing income 53 47
Mortgage banking income 26 32
Trust and investment management services 44 39
Insurance income 21 20
Capital markets fees 19 14
Bank owned life insurance income 15 18
Gain on sale of loans 8 13
Net gains on sales of securities 0 0
Other noninterest income 42 46
Total noninterest income 314 312
Personnel costs 376 382
Outside data processing and other services 73 87
Equipment 40 47
Net occupancy 41 68
Professional services 11 18
Marketing 8 14
Deposit and other insurance expense 18 20
Amortization of intangibles 14 14
Other noninterest expense 52 57
Total noninterest expense 633 707
Income before income taxes 385 267
Provision for income taxes 59 59
Net income 326 208
Dividends on preferred shares 12 19
Net income applicable to common shares $ 314 $ 189
Average common shares—basic (in shares) 1,083,836 1,086,374
Average common shares—diluted (in shares) 1,124,778 1,108,617
Per common share:    
Net income—basic (in usd per share) $ 0.29 $ 0.17
Net income—diluted (in usd per share) 0.28 0.17
Cash dividends declared (in usd per share) $ 0.11 $ 0.08
OTTI losses for the periods presented:    
Total OTTI losses $ 0 $ 0
Noncredit-related portion of loss recognized in OCI 0 0
Impairment losses recognized in earnings on available-for-sale securities $ 0 $ 0