Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.20.2
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and fee income:        
Loans and leases $ 754 $ 903 $ 1,563 $ 1,804
Available-for-sale securities        
Taxable 64 72 141 148
Tax-exempt 15 21 33 43
Held-to-maturity securities—taxable 59 56 117 110
Other securities—taxable 1 4 3 10
Other 9 12 20 23
Total interest income 902 1,068 1,877 2,138
Interest expense:        
Deposits 46 150 151 295
Short-term borrowings 1 19 13 33
Long-term debt 63 87 131 176
Total interest expense 110 256 295 504
Net interest income 792 812 1,582 1,634
Provision for credit losses 327 59 768 126
Net interest income after provision for credit losses 465 753 814 1,508
Service charges on deposit accounts 60 92 148 179
Card and payment processing income 59 63 117 119
Trust and investment management services 96 34 92 87
Mortgage banking income 45 43 154 55
Capital markets fees 25 23 64 56
Insurance income 31 34 48 44
Bank Owned Life Insurance Income 17 15 32 31
Gain (Loss) on Sales of Loans, Net 8 13 17 26
Net (losses) gains on sales of securities (1) (2) (1) (2)
Noninterest Income, Other Operating Income 51 59 81 98
Total noninterest income 391 374 752 693
Personnel costs 418 428 814 822
Outside data processing and other services 90 89 175 170
Equipment 46 40 87 80
Net occupancy 39 38 79 80
Professional services 5 11 22 24
Amortization of intangibles 10 12 21 25
Marketing 11 12 14 18
Deposit and other insurance expense 9 8 18 16
Other noninterest expense 47 62 97 118
Total noninterest expense 675 700 1,327 1,353
Income before income taxes 181 427 239 848
Provision for income taxes 31 63 41 126
Net income 150 364 198 722
Dividends on preferred shares 19 18 37 37
Net income applicable to common shares $ 131 $ 346 $ 161 $ 685
Average common shares—basic (in shares) 1,016,259 1,044,802 1,016,951 1,045,899
Average common shares—diluted (in shares) 1,028,683 1,060,280 1,031,629 1,062,959
Per common share:        
Net income—basic (in usd per share) $ 0.13 $ 0.33 $ 0.16 $ 0.66
Net income—diluted (in usd per share) $ 0.13 $ 0.33 $ 0.16 $ 0.64