Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and fee income:        
Loans and leases $ 810 $ 700 $ 1,566 $ 1,376
Available-for-sale securities        
Taxable 71 74 141 145
Tax-exempt 24 19 47 38
Held-to-maturity securities—taxable 53 44 107 89
Interest Income, Securities, Operating, Other, Taxable 7 4 13 9
Other 7 5 12 10
Total interest income 972 846 1,886 1,667
Interest expense:        
Deposits 87 42 147 77
Short-term borrowings 14 5 33 11
Subordinated notes and other long-term debt 87 54 152 104
Total interest expense 188 101 332 192
Net interest income 784 745 1,554 1,475
Provision for credit losses 56 25 122 93
Net interest income after provision for credit losses 728 720 1,432 1,382
Service charges on deposit accounts 91 88 177 171
Cards and payment processing income 56 52 109 100
Mortgage banking income 28 32 54 64
Trust and investment management services 42 37 86 76
Insurance income 21 22 42 42
Capital markets fees 21 17 40 31
Bank owned life insurance income 17 15 32 33
Gain on sale of loans 15 12 23 25
Net gains on sales of securities 0 4 0 4
Other noninterest income 45 50 87 96
Total noninterest income 336 325 650 638
Personnel costs 396 392 772 774
Outside data processing and other services 69 75 142 162
Equipment 38 43 78 90
Net occupancy 35 53 76 120
Professional services 15 18 26 36
Marketing 18 19 26 33
Deposit and other insurance expense 18 20 36 41
Amortization of intangibles 13 14 27 29
Other noninterest expense 50 60 102 117
Total noninterest expense 652 694 1,285 1,402
Income before income taxes 412 351 797 618
Provision for income taxes 57 79 116 138
Net income 355 272 681 480
Dividends on preferred shares 21 19 33 38
Net income applicable to common shares $ 334 $ 253 $ 648 $ 442
Average common shares—basic (in shares) 1,103,337 1,088,934 1,093,587 1,087,654
Average common shares—diluted (in shares) 1,122,612 1,108,527 1,123,646 1,108,572
Per common share:        
Net income—basic (in usd per share) $ 0.30 $ 0.23 $ 0.59 $ 0.41
Net income—diluted (in usd per share) 0.30 0.23 0.58 0.40
Cash dividends declared (in usd per share) $ 0.11 $ 0.08 $ 0.22 $ 0.16
OTTI losses for the periods presented:        
Total OTTI losses $ 0 $ (4) $ 0 $ (4)
Noncredit-related portion of loss recognized in OCI 0 0 0 0
Impairment losses recognized in earnings on available-for-sale securities $ 0 $ (4) $ 0 $ (4)