Quarterly Financial Information

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Financial information by quarter for 2019 and 2018 is as follows:

(In millions, except per share amounts)	Quarters
	First		Second		Third		Fourth		Year
2019
Gross interest income	$	675	$	684	$	677	$	647	$	2,683
Net interest income	577		569		567		559		2,272
Provision for credit losses	4		21		10		4		39
Noninterest income	132		132		146		152		562
Noninterest expense	431		424		415		472		1,742
Income before income taxes	274		256		288		235		1,053
Net income	213		198		222		183		816
Preferred stock dividends	(8)		(9)		(8)		(9)		(34)
Net earnings applicable to common shareholders	205		189		214		174		782
Net earnings per common share:
Basic	1.10		1.05		1.23		1.03		4.41
Diluted	1.03		0.99		1.17		0.97		4.16
2018
Gross interest income	$	588	$	606	$	631	$	656	$	2,481
Net interest income	541		548		565		576		2,230
Provision for credit losses	(47)		12		(11)		6		(40)
Noninterest income	138		138		136		140		552
Noninterest expense	418		421		420		420		1,679
Income before income taxes	308		253		292		290		1,143
Net income	238		197		223		226		884
Preferred stock dividends	(7)		(10)		(8)		(9)		(34)
Net earnings applicable to common shareholders	231		187		215		217		850
Net earnings per common share:
Basic	1.16		0.95		1.11		1.14		4.36
Diluted	1.08		0.88		1.04		1.08		4.08

Certain prior period amounts have been reclassified to conform with the current year presentation. These reclassifications did not affect net income. See related discussion in Note 1. Individual quarter information may be different than previously reported due to rounding.

Quarterly Financial Information [Table Text Block]

(In millions, except per share amounts)	Quarters
	First		Second		Third		Fourth		Year
2019
Gross interest income	$	675	$	684	$	677	$	647	$	2,683
Net interest income	577		569		567		559		2,272
Provision for credit losses	4		21		10		4		39
Noninterest income	132		132		146		152		562
Noninterest expense	431		424		415		472		1,742
Income before income taxes	274		256		288		235		1,053
Net income	213		198		222		183		816
Preferred stock dividends	(8)		(9)		(8)		(9)		(34)
Net earnings applicable to common shareholders	205		189		214		174		782
Net earnings per common share:
Basic	1.10		1.05		1.23		1.03		4.41
Diluted	1.03		0.99		1.17		0.97		4.16
2018
Gross interest income	$	588	$	606	$	631	$	656	$	2,481
Net interest income	541		548		565		576		2,230
Provision for credit losses	(47)		12		(11)		6		(40)
Noninterest income	138		138		136		140		552
Noninterest expense	418		421		420		420		1,679
Income before income taxes	308		253		292		290		1,143
Net income	238		197		223		226		884
Preferred stock dividends	(7)		(10)		(8)		(9)		(34)
Net earnings applicable to common shareholders	231		187		215		217		850
Net earnings per common share:
Basic	1.16		0.95		1.11		1.14		4.36
Diluted	1.08		0.88		1.04		1.08		4.08