Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.10.0.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and fee income:        
Loans and leases $ 848 $ 724 $ 2,414 $ 2,100
Available-for-sale securities        
Taxable 68 69 209 215
Tax-exempt 24 19 71 56
Held-to-maturity securities—taxable 52 49 159 138
Other securities—taxable 6 5 19 14
Other 9 7 21 16
Total interest income 1,007 873 2,893 2,539
Interest expense:        
Deposits 112 50 259 126
Short-term borrowings 9 6 42 17
Subordinated notes and other long-term debt 84 59 236 163
Total interest expense 205 115 537 306
Net interest income 802 758 2,356 2,233
Provision for credit losses 53 43 175 136
Net interest income after provision for credit losses 749 715 2,181 2,097
Service charges on deposit accounts 93 91 270 262
Cards and payment processing income 57 54 166 153
Trust and investment management services 43 39 129 115
Mortgage banking income 31 34 85 98
Insurance income 19 18 61 60
Capital markets fees 22 22 62 53
Bank owned life insurance income 19 16 51 49
Gain on sale of loans and leases 16 14 39 39
Net (losses) gains on sales of securities (2) 0 (2) 4
Other noninterest income 44 42 131 138
Total noninterest income 342 330 992 967
Personnel costs 388 377 1,160 1,151
Outside data processing and other services 69 80 211 242
Net occupancy 38 55 114 176
Equipment 38 45 116 135
Deposit and other insurance expense 18 19 54 59
Professional services 17 15 43 51
Marketing 12 17 38 50
Amortization of intangibles 13 14 40 42
Other noninterest expense 58 58 160 176
Total noninterest expense 651 680 1,936 2,082
Income before income taxes 440 365 1,237 982
Provision for income taxes 62 90 178 228
Net income 378 275 1,059 754
Dividends on preferred shares 18 19 51 57
Net income applicable to common shares $ 360 $ 256 $ 1,008 $ 697
Average common shares—basic (in shares) 1,084,536 1,086,038 1,090,570 1,087,115
Average common shares—diluted (in shares) 1,103,740 1,106,491 1,116,978 1,107,878
Per common share:        
Net income—basic (in usd per share) $ 0.33 $ 0.24 $ 0.92 $ 0.64
Net income—diluted (in usd per share) 0.33 0.23 0.90 0.63
Cash dividends declared (in usd per share) $ 0.14 $ 0.08 $ 0.36 $ 0.24
OTTI losses for the periods presented:        
Total OTTI losses $ 0 $ 0 $ 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 $ 0 $ 0 $ (4)