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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Interest and fees on loans and leases $ 1,871 $ 1,831 $ 3,731 $ 3,545
Interest on securities 458 437 913 876
Interest on other short-term investments 291 102 584 162
Total interest income 2,620 2,370 5,228 4,583 Close
Interest Expense        
Interest on deposits 958 655 1,912 1,133
Interest on federal funds purchased 3 5 6 10
Interest on other short-term borrowings 48 90 95 147
Interest on long-term debt 224 163 444 319
Total interest expense 1,233 913 2,457 1,609 Close
Net Interest Income 1,387 1,457 2,771 2,974 Close
Provision for credit losses 97 177 191 341 Close
Net Interest Income After Provision for Credit Losses 1,290 1,280 2,580 2,633
Noninterest Income        
Wealth and asset management revenue 159 143 320 289
Service charges on deposits 156 144 306 281
Commercial banking revenue 144 146 288 307
Card and processing revenue 108 106 210 206
Mortgage banking net revenue 50 59 104 127
Leasing business revenue 38 47 77 104
Other noninterest income 37 74 88 97
Securities gains, net 3 7 13 11
Total noninterest income 695 726 1,406 1,422 Close
Noninterest Expense        
Compensation and benefits 656 650 1,409 1,407
Technology and communications 114 114 231 232
Net occupancy expense 83 83 170 164
Equipment expense 38 36 76 73
Marketing expense 22 31 48 65
Leasing business expense 34 31 66 60
Card and processing expense 21 20 41 42
Other noninterest expense 253 266 521 519
Total noninterest expense 1,221 1,231 2,562 2,562 CloseClose
Income Before Income Taxes 764 775 1,424 1,493 CloseClose
Total NonInterest Income Expenses -526.0 -505.0 -1156.0 -1140.0 0.0 Close
Applicable income tax expense 163 174 302 334 Close
Net Income 601 601 1,122 1,159 Close
Dividends on preferred stock 40 39 81 62
Net Income Available to Common Shareholders $ 561 $ 562 $ 1,041 $ 1,097
Shares Disclosures        
Earnings per share - basic (in dollars per share) $ 0.82 $ 0.82 $ 1.52 $ 1.60
Earnings per share - diluted (in dollars per share) $ 0.81 $ 0.82 $ 1.51 $ 1.59
Average common shares outstanding - basic (in shares) 686,781,201 684,028,603 686,265,437 684,023,063
Average common shares outstanding - diluted (in shares) 691,082,792 686,385,938 690,858,162 687,967,395