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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ 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 $ 877 $ 791 $ 1,742 $ 1,517
Interest on money market investments 56 48 103 105
Interest on securities 140 138 282 275
Total interest income 1,073 977 2,127 1,897
Interest expense:        
Interest on deposits 390 220 766 302
Interest on short- and long-term borrowings 86 166 178 325
Total interest expense 476 386 944 627
Net interest income 597 591 1,183 1,270
Provision for credit losses:        
Provision for loan and lease losses 12 46 33 92
Provision for unfunded lending commitments (7) 0 (15) (1)
Total provision for credit losses 5 46 18 91
Net interest income after provision for credit losses 592 545 1,165 1,179
Noninterest income:        
Commercial account fees 45 45 89 88
Card fees 25 25 48 49
Retail and business banking fees 16 16 32 32
Loan-related fees and income 18 19 33 40
Capital markets fees 21 27 45 44
Wealth management fees 15 14 30 29
Other customer-related fees 14 16 28 31
Customer-related noninterest income 154 162 305 313
Fair value and nonhedge derivative income (1) 1 0 (2)
Dividends and other income (loss) 22 26 28 37
Securities gains (losses), net 4 0 2 1
Total noninterest income 179 189 335 349
Noninterest expense:        
Salaries and employee benefits 318 324 649 663
Technology, telecom, and information processing 66 58 128 113
Occupancy and equipment, net 40 40 79 80
Professional and legal services 17 16 33 29
Marketing and business development 13 13 23 25
Deposit insurance and regulatory expense 21 22 55 40
Credit-related expense 6 7 13 13
Other real estate expense, net (1) 0 (1) 0
Other 29 28 56 57
Total noninterest expense 509 508 1,035 1,020
Income before income taxes 262 226 465 508
Income taxes 61 51 111 129
Net income 201 175 354 379
Preferred stock dividends (11) (9) (21) (15)
Net earnings applicable to common shareholders $ 190 $ 166 $ 333 $ 364
Weighted average common shares outstanding during the period:        
Basic shares (in shares) 147,115 147,692 147,227 147,852
Diluted shares (in shares) 147,120 147,696 147,231 147,865
Earnings Per Share [Abstract]        
Basic (in dollars per share) $ 1.28 $ 1.11 $ 2.24 $ 2.44
Diluted (in dollars per share) $ 1.28 $ 1.11 $ 2.24 $ 2.44