QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Title of each class | Trading symbol | Name of each exchange on which registered |
☒ | Accelerated filer | ☐ | |
Non-accelerated filer | ☐ | Smaller reporting company | |
Emerging growth company |
35 | |
59 | |
59 | |
59 | |
59 | |
60 |
(in millions, except share data) | June 30, 2019 | December 31, 2018 | |||||
(unaudited) | |||||||
ASSETS | |||||||
Cash and due from banks | $ | $ | |||||
Interest-bearing deposits with banks | |||||||
Other short-term investments | |||||||
Investment securities available-for-sale | |||||||
Commercial loans | |||||||
Real estate construction loans | |||||||
Commercial mortgage loans | |||||||
Lease financing | |||||||
International loans | |||||||
Residential mortgage loans | |||||||
Consumer loans | |||||||
Total loans | |||||||
Less allowance for loan losses | ( | ) | ( | ) | |||
Net loans | |||||||
Premises and equipment | |||||||
Accrued income and other assets | |||||||
Total assets | $ | $ | |||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
Noninterest-bearing deposits | $ | $ | |||||
Money market and interest-bearing checking deposits | |||||||
Savings deposits | |||||||
Customer certificates of deposit | |||||||
Other time deposits | |||||||
Foreign office time deposits | |||||||
Total interest-bearing deposits | |||||||
Total deposits | |||||||
Short-term borrowings | |||||||
Accrued expenses and other liabilities | |||||||
Medium- and long-term debt | |||||||
Total liabilities | |||||||
Common stock - $5 par value: | |||||||
Authorized - 325,000,000 shares | |||||||
Issued - 228,164,824 shares | |||||||
Capital surplus | |||||||
Accumulated other comprehensive loss | ( | ) | ( | ) | |||
Retained earnings | |||||||
Less cost of common stock in treasury - 78,367,534 shares at 6/30/19 and 68,081,176 shares at 12/31/18 | ( | ) | ( | ) | |||
Total shareholders’ equity | |||||||
Total liabilities and shareholders’ equity | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(in millions, except per share data) | 2019 | 2018 | 2019 | 2018 | |||||||||||
INTEREST INCOME | |||||||||||||||
Interest and fees on loans | $ | $ | $ | $ | |||||||||||
Interest on investment securities | |||||||||||||||
Interest on short-term investments | |||||||||||||||
Total interest income | |||||||||||||||
INTEREST EXPENSE | |||||||||||||||
Interest on deposits | |||||||||||||||
Interest on short-term borrowings | |||||||||||||||
Interest on medium- and long-term debt | |||||||||||||||
Total interest expense | |||||||||||||||
Net interest income | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | |||||||||||
Net interest income after provision for credit losses | |||||||||||||||
NONINTEREST INCOME | |||||||||||||||
Card fees | |||||||||||||||
Service charges on deposit accounts | |||||||||||||||
Fiduciary income | |||||||||||||||
Commercial lending fees | |||||||||||||||
Foreign exchange income | |||||||||||||||
Letter of credit fees | |||||||||||||||
Bank-owned life insurance | |||||||||||||||
Brokerage fees | |||||||||||||||
Net securities gains (losses) | ( | ) | |||||||||||||
Other noninterest income | |||||||||||||||
Total noninterest income | |||||||||||||||
NONINTEREST EXPENSES | |||||||||||||||
Salaries and benefits expense | |||||||||||||||
Outside processing fee expense | |||||||||||||||
Net occupancy expense | |||||||||||||||
Software expense | |||||||||||||||
Equipment expense | |||||||||||||||
FDIC insurance expense | |||||||||||||||
Advertising expense | |||||||||||||||
Restructuring charges | |||||||||||||||
Other noninterest expenses | |||||||||||||||
Total noninterest expenses | |||||||||||||||
Income before income taxes | |||||||||||||||
Provision for income taxes | |||||||||||||||
NET INCOME | |||||||||||||||
Less income allocated to participating securities | |||||||||||||||
Net income attributable to shares | $ | $ | $ | $ | |||||||||||
Earnings per share: | |||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||
Diluted | |||||||||||||||
Comprehensive income | |||||||||||||||
Cash dividends declared on stock | |||||||||||||||
Cash dividends declared per share |
Accumulated | ||||||||||||||||||||
Common Stock | Other | Total | ||||||||||||||||||
Shares | Capital | Comprehensive | Retained | Treasury | Shareholders' | |||||||||||||||
(in millions, except per share data) | Outstanding | Amount | Surplus | Loss | Earnings | Stock | Equity | |||||||||||||
BALANCE AT MARCH 31, 2018 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
Net income | — | — | — | — | — | |||||||||||||||
Other comprehensive loss, net of tax | — | — | — | ( | ) | — | — | ( | ) | |||||||||||
Cash dividends declared on common stock ($0.34 per share) | — | — | — | — | ( | ) | — | ( | ) | |||||||||||
Purchase of common stock | ( | ) | — | — | — | — | ( | ) | ( | ) | ||||||||||
Net issuance of common stock under employee stock plans | — | — | ( | ) | ||||||||||||||||
Share-based compensation | — | — | — | — | — | |||||||||||||||
BALANCE AT JUNE 30, 2018 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
BALANCE AT MARCH 31, 2019 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
Net income | — | — | — | — | — | |||||||||||||||
Other comprehensive income, net of tax | — | — | — | — | — | |||||||||||||||
Cash dividends declared on common stock ($0.67 per share) | — | — | — | — | ( | ) | — | ( | ) | |||||||||||
Purchase of common stock | ( | ) | — | — | — | — | ( | ) | ( | ) | ||||||||||
Net issuance of common stock under employee stock plans | — | — | ( | ) | ||||||||||||||||
Share-based compensation | — | — | — | — | — | |||||||||||||||
BALANCE AT JUNE 30, 2019 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
BALANCE AT DECEMBER 31, 2017 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
Cumulative effect of change in accounting principles | — | — | — | — | ||||||||||||||||
Net income | — | — | — | — | — | |||||||||||||||
Other comprehensive loss, net of tax | — | — | — | ( | ) | — | — | ( | ) | |||||||||||
Cash dividends declared on common stock ($0.64 per share) | — | — | — | — | ( | ) | — | ( | ) | |||||||||||
Purchase of common stock | ( | ) | — | — | — | — | ( | ) | ( | ) | ||||||||||
Net issuance of common stock under employee stock plans | — | ( | ) | — | ( | ) | ||||||||||||||
Net issuance of common stock for warrants | — | ( | ) | — | ( | ) | ||||||||||||||
Share-based compensation | — | — | — | — | — | |||||||||||||||
BALANCE AT JUNE 30, 2018 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
BALANCE AT DECEMBER 31, 2018 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ | ||||||||||
Cumulative effect of change in accounting principle | — | — | — | — | ( | ) | — | ( | ) | |||||||||||
Net income | — | — | — | — | — | |||||||||||||||
Other comprehensive income, net of tax | — | — | — | — | — | |||||||||||||||
Cash dividends declared on common stock ($1.34 per share) | — | — | — | — | ( | ) | — | ( | ) | |||||||||||
Purchase of common stock | ( | ) | — | — | — | ( | ) | ( | ) | |||||||||||
Net issuance of common stock under employee stock plans | — | ( | ) | — | ( | ) | ( | ) | ||||||||||||
Share-based compensation | — | — | — | — | — | |||||||||||||||
BALANCE AT JUNE 30, 2019 | $ | $ | $ | ( | ) | $ | $ | ( | ) | $ |
Six Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
OPERATING ACTIVITIES | |||||||
Net income | $ | $ | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for credit losses | ( | ) | |||||
(Benefit) provision for deferred income taxes | ( | ) | |||||
Depreciation and amortization | |||||||
Net periodic defined benefit credit | ( | ) | ( | ) | |||
Share-based compensation expense | |||||||
Net amortization of securities | |||||||
Net securities losses (gains) | ( | ) | |||||
Net gains on sales of foreclosed property | ( | ) | |||||
Net change in: | |||||||
Accrued income receivable | ( | ) | ( | ) | |||
Accrued expenses payable | ( | ) | ( | ) | |||
Other, net | ( | ) | |||||
Net cash provided by operating activities | |||||||
INVESTING ACTIVITIES | |||||||
Investment securities available-for-sale: | |||||||
Maturities and redemptions | |||||||
Sales | |||||||
Purchases | ( | ) | ( | ) | |||
Net change in loans | ( | ) | ( | ) | |||
Proceeds from sales of foreclosed property | |||||||
Net increase in premises and equipment | ( | ) | ( | ) | |||
Purchases of Federal Home Loan Bank stock | ( | ) | ( | ) | |||
Proceeds from bank-owned life insurance settlements | |||||||
Other, net | ( | ) | |||||
Net cash used in investing activities | ( | ) | ( | ) | |||
FINANCING ACTIVITIES | |||||||
Net change in: | |||||||
Deposits | ( | ) | ( | ) | |||
Short-term borrowings | |||||||
Medium- and long-term debt: | |||||||
Maturities | ( | ) | |||||
Issuances and advances | |||||||
Common stock: | |||||||
Repurchases | ( | ) | ( | ) | |||
Cash dividends paid | ( | ) | ( | ) | |||
Issuances under employee stock plans | |||||||
Other, net | |||||||
Net cash provided by (used in) financing activities | ( | ) | |||||
Net decrease in cash and cash equivalents | ( | ) | ( | ) | |||
Cash and cash equivalents at beginning of period | |||||||
Cash and cash equivalents at end of period | $ | $ | |||||
Interest paid | $ | $ | |||||
Income tax paid | |||||||
Noncash investing and financing activities: | |||||||
Loans transferred to other real estate | |||||||
Securities transferred from held-to-maturity to available-for-sale | |||||||
Securities transferred from available-for-sale to equity securities |
(in millions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||
June 30, 2019 | ||||||||||||||||
Deferred compensation plan assets | $ | $ | $ | $ | ||||||||||||
Equity securities | ||||||||||||||||
Investment securities available-for-sale: | ||||||||||||||||
U.S. Treasury and other U.S. government agency securities | ||||||||||||||||
Residential mortgage-backed securities (a) | ||||||||||||||||
Total investment securities available-for-sale | ||||||||||||||||
Derivative assets: | ||||||||||||||||
Interest rate contracts | ||||||||||||||||
Energy derivative contracts | ||||||||||||||||
Foreign exchange contracts | ||||||||||||||||
Total derivative assets | ||||||||||||||||
Total assets at fair value | $ | $ | $ | $ | ||||||||||||
Derivative liabilities: | ||||||||||||||||
Interest rate contracts | $ | $ | $ | $ | ||||||||||||
Energy derivative contracts | ||||||||||||||||
Foreign exchange contracts | ||||||||||||||||
Total derivative liabilities | ||||||||||||||||
Deferred compensation plan liabilities | ||||||||||||||||
Total liabilities at fair value | $ | $ | $ | $ | ||||||||||||
December 31, 2018 | ||||||||||||||||
Deferred compensation plan assets | $ | $ | $ | $ | ||||||||||||
Equity securities | ||||||||||||||||
Investment securities available-for-sale: | ||||||||||||||||
U.S. Treasury and other U.S. government agency securities | ||||||||||||||||
Residential mortgage-backed securities (a) | ||||||||||||||||
Total investment securities available-for-sale | ||||||||||||||||
Derivative assets: | ||||||||||||||||
Interest rate contracts | ||||||||||||||||
Energy derivative contracts | ||||||||||||||||
Foreign exchange contracts | ||||||||||||||||
Total derivative assets | ||||||||||||||||
Total assets at fair value | $ | $ | $ | $ | ||||||||||||
Derivative liabilities: | ||||||||||||||||
Interest rate contracts | $ | $ | $ | $ | ||||||||||||
Energy derivative contracts | ||||||||||||||||
Foreign exchange contracts | ||||||||||||||||
Total derivative liabilities | ||||||||||||||||
Deferred compensation plan liabilities | ||||||||||||||||
Total liabilities at fair value | $ | $ | $ | $ |
(a) | Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises. |
Net Realized/Unrealized Gains (Losses) (Pretax) Recorded in Earnings (b) | ||||||||||||||||||||||||
Balance at Beginning of Period | Change in Classification (a) | Balance at End of Period | ||||||||||||||||||||||
Sales and Redemptions | ||||||||||||||||||||||||
(in millions) | Realized | Unrealized | ||||||||||||||||||||||
Three Months Ended June 30, 2019 | ||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | $ | $ | $ | $ | $ | $ | ||||||||||||||||||
Three Months Ended June 30, 2018 | ||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | $ | $ | $ | $ | ( | ) | $ | $ | ||||||||||||||||
Six Months Ended June 30, 2019 | ||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | $ | |||||||||||||||||||||||
Six Months Ended June 30, 2018 | ||||||||||||||||||||||||
Equity securities | $ | $ | $ | $ | $ | ( | ) | $ | ||||||||||||||||
Investment securities available-for-sale: | ||||||||||||||||||||||||
State and municipal securities (c) | ( | ) | ||||||||||||||||||||||
Equity and other non-debt securities (c) | ( | ) | ||||||||||||||||||||||
Total investment securities available-for-sale | ( | ) | ( | ) | ||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||
Interest rate contracts | ( | ) |
(a) | Reflects the reclassification of equity securities resulting from the adoption of ASU 2016-01. |
(b) | Realized and unrealized gains and losses due to changes in fair value are recorded in other noninterest income on the Consolidated Statements of Comprehensive Income. |
(c) | Auction-rate securities. |
(in millions) | Level 3 | ||
June 30, 2019 | |||
Loans: | |||
Commercial | $ | ||
Commercial mortgage | |||
Total assets at fair value | $ | ||
December 31, 2018 | |||
Loans: | |||
Commercial | $ | ||
Commercial mortgage | |||
Total assets at fair value | $ |
Carrying Amount | Estimated Fair Value | ||||||||||||||||||
(in millions) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||
June 30, 2019 | |||||||||||||||||||
Assets | |||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | ||||||||||||||
Interest-bearing deposits with banks | |||||||||||||||||||
Loans held-for-sale | |||||||||||||||||||
Total loans, net of allowance for loan losses (a) | |||||||||||||||||||
Customers’ liability on acceptances outstanding | |||||||||||||||||||
Restricted equity investments | |||||||||||||||||||
Nonmarketable equity securities (b) | |||||||||||||||||||
Liabilities | |||||||||||||||||||
Demand deposits (noninterest-bearing) | |||||||||||||||||||
Interest-bearing deposits | |||||||||||||||||||
Customer certificates of deposit | |||||||||||||||||||
Other time deposits | |||||||||||||||||||
Total deposits | |||||||||||||||||||
Short-term borrowings | |||||||||||||||||||
Acceptances outstanding | |||||||||||||||||||
Medium- and long-term debt | |||||||||||||||||||
Credit-related financial instruments | ( | ) | ( | ) | ( | ) | |||||||||||||
December 31, 2018 | |||||||||||||||||||
Assets | |||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | ||||||||||||||
Interest-bearing deposits with banks | |||||||||||||||||||
Loans held-for-sale | |||||||||||||||||||
Total loans, net of allowance for loan losses (a) | |||||||||||||||||||
Customers’ liability on acceptances outstanding | |||||||||||||||||||
Restricted equity investments | |||||||||||||||||||
Nonmarketable equity securities (b) | |||||||||||||||||||
Liabilities | |||||||||||||||||||
Demand deposits (noninterest-bearing) | |||||||||||||||||||
Interest-bearing deposits | |||||||||||||||||||
Certificates of deposit | |||||||||||||||||||
Total deposits | |||||||||||||||||||
Short-term borrowings | |||||||||||||||||||
Acceptances outstanding | |||||||||||||||||||
Medium- and long-term debt | |||||||||||||||||||
Credit-related financial instruments | ( | ) | ( | ) | ( | ) |
(a) | Included $ |
(b) | Certain investments that are measured at fair value using the net asset value have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets. |
(in millions) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||
June 30, 2019 | |||||||||||||||
Investment securities available-for-sale: | |||||||||||||||
U.S. Treasury and other U.S. government agency securities | $ | $ | $ | $ | |||||||||||
Residential mortgage-backed securities (a) | |||||||||||||||
Total investment securities available-for-sale | $ | $ | $ | $ | |||||||||||
December 31, 2018 | |||||||||||||||
Investment securities available-for-sale: | |||||||||||||||
U.S. Treasury and other U.S. government agency securities | $ | $ | $ | $ | |||||||||||
Residential mortgage-backed securities (a) | |||||||||||||||
Total investment securities available-for-sale | $ | $ | $ | $ |
(a) | Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises. |
Temporarily Impaired | ||||||||||||||||||||||||||
Less than 12 Months | 12 Months or more | Total | ||||||||||||||||||||||||
(in millions) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||
June 30, 2019 | ||||||||||||||||||||||||||
Residential mortgage-backed securities (a) | ||||||||||||||||||||||||||
Total temporarily impaired securities | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
December 31, 2018 | ||||||||||||||||||||||||||
U.S. Treasury and other U.S. government agency securities | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Residential mortgage-backed securities (a) | ||||||||||||||||||||||||||
Total temporarily impaired securities | $ | $ | $ | $ | $ | $ |
(a) | Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises. |
Six Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Securities gains | $ | $ | |||||
Securities losses | ( | ) | |||||
Net securities (losses) gains | $ | ( | ) | $ |
(in millions) | |||||||
June 30, 2019 | Amortized Cost | Fair Value | |||||
Contractual maturity | |||||||
After one year through five years | $ | $ | |||||
After five years through ten years | |||||||
After ten years | |||||||
Total investment securities | $ | $ |
Loans Past Due and Still Accruing | |||||||||||||||||||||||||||
(in millions) | 30-59 Days | 60-89 Days | 90 Days or More | Total | Nonaccrual Loans | Current Loans | Total Loans | ||||||||||||||||||||
June 30, 2019 | |||||||||||||||||||||||||||
Business loans: | |||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Real estate construction: | |||||||||||||||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||||||||||||||
Other business lines (b) | |||||||||||||||||||||||||||
Total real estate construction | |||||||||||||||||||||||||||
Commercial mortgage: | |||||||||||||||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||||||||||||||
Other business lines (b) | |||||||||||||||||||||||||||
Total commercial mortgage | |||||||||||||||||||||||||||
Lease financing | |||||||||||||||||||||||||||
International | |||||||||||||||||||||||||||
Total business loans | |||||||||||||||||||||||||||
Retail loans: | |||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||
Other consumer | |||||||||||||||||||||||||||
Total consumer | |||||||||||||||||||||||||||
Total retail loans | |||||||||||||||||||||||||||
Total loans | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
December 31, 2018 | |||||||||||||||||||||||||||
Business loans: | |||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||
Real estate construction: | |||||||||||||||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||||||||||||||
Other business lines (b) | |||||||||||||||||||||||||||
Total real estate construction | |||||||||||||||||||||||||||
Commercial mortgage: | |||||||||||||||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||||||||||||||
Other business lines (b) | |||||||||||||||||||||||||||
Total commercial mortgage | |||||||||||||||||||||||||||
Lease financing | |||||||||||||||||||||||||||
International | |||||||||||||||||||||||||||
Total business loans | |||||||||||||||||||||||||||
Retail loans: | |||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||
Other consumer | |||||||||||||||||||||||||||
Total consumer | |||||||||||||||||||||||||||
Total retail loans | |||||||||||||||||||||||||||
Total loans | $ | $ | $ | $ | $ | $ | $ |
(a) | Primarily loans to real estate developers. |
(b) | Primarily loans secured by owner-occupied real estate. |
Internally Assigned Rating | |||||||||||||||||||
(in millions) | Pass (a) | Special Mention (b) | Substandard (c) | Nonaccrual (d) | Total | ||||||||||||||
June 30, 2019 | |||||||||||||||||||
Business loans: | |||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | ||||||||||||||
Real estate construction: | |||||||||||||||||||
Commercial Real Estate business line (e) | |||||||||||||||||||
Other business lines (f) | |||||||||||||||||||
Total real estate construction | |||||||||||||||||||
Commercial mortgage: | |||||||||||||||||||
Commercial Real Estate business line (e) | |||||||||||||||||||
Other business lines (f) | |||||||||||||||||||
Total commercial mortgage | |||||||||||||||||||
Lease financing | |||||||||||||||||||
International | |||||||||||||||||||
Total business loans | |||||||||||||||||||
Retail loans: | |||||||||||||||||||
Residential mortgage | |||||||||||||||||||
Consumer: | |||||||||||||||||||
Home equity | |||||||||||||||||||
Other consumer | |||||||||||||||||||
Total consumer | |||||||||||||||||||
Total retail loans | |||||||||||||||||||
Total loans | $ | $ | $ | $ | $ | ||||||||||||||
December 31, 2018 | |||||||||||||||||||
Business loans: | |||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | ||||||||||||||
Real estate construction: | |||||||||||||||||||
Commercial Real Estate business line (e) | |||||||||||||||||||
Other business lines (f) | |||||||||||||||||||
Total real estate construction | |||||||||||||||||||
Commercial mortgage: | |||||||||||||||||||
Commercial Real Estate business line (e) | |||||||||||||||||||
Other business lines (f) | |||||||||||||||||||
Total commercial mortgage | |||||||||||||||||||
Lease financing | |||||||||||||||||||
International | |||||||||||||||||||
Total business loans | |||||||||||||||||||
Retail loans: | |||||||||||||||||||
Residential mortgage | |||||||||||||||||||
Consumer: | |||||||||||||||||||
Home equity | |||||||||||||||||||
Other consumer | |||||||||||||||||||
Total consumer | |||||||||||||||||||
Total retail loans | |||||||||||||||||||
Total loans | $ | $ | $ | $ | $ |
(a) | Includes all loans not included in the categories of special mention, substandard or nonaccrual. |
(b) | Special mention loans are accruing loans that have potential credit weaknesses that deserve management’s close attention, such as loans to borrowers who may be experiencing financial difficulties that may result in deterioration of repayment prospects from the borrower at some future date. This category is generally consistent with the "special mention" category as defined by regulatory authorities. |
(c) | Substandard loans are accruing loans that have a well-defined weakness, or weaknesses, such as loans to borrowers who may be experiencing losses from operations or inadequate liquidity of a degree and duration that jeopardizes the orderly repayment of the loan. Substandard loans also are distinguished by the distinct possibility of loss in the future if these weaknesses are not corrected. This category is generally consistent with the "substandard" category as defined by regulatory authorities. |
(d) | Nonaccrual loans are loans for which the accrual of interest has been discontinued. For further information regarding nonaccrual loans, refer to the Nonperforming Assets subheading in Note 1 - Basis of Presentation and Accounting Policies - on pages F-52 and F-53 in the Corporation's 2018 Annual Report. A significant majority of nonaccrual loans are generally consistent with the "substandard" category and the remainder are generally consistent with the "doubtful" category as defined by regulatory authorities. |
(e) | Primarily loans to real estate developers. |
(f) | Primarily loans secured by owner-occupied real estate. |
(in millions) | June 30, 2019 | December 31, 2018 | |||||
Nonaccrual loans | $ | $ | |||||
Reduced-rate loans (a) | |||||||
Total nonperforming loans | |||||||
Foreclosed property (b) | |||||||
Total nonperforming assets | $ | $ |
(a) | Comprised of reduced-rate retail loans. |
(b) | Included $3 million of foreclosed residential real estate properties at June 30, 2019, compared to none at December 31, 2018. |
2019 | 2018 | ||||||||||||||||||||||
(in millions) | Business Loans | Retail Loans | Total | Business Loans | Retail Loans | Total | |||||||||||||||||
Three Months Ended June 30 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at beginning of period | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loan charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||
Recoveries on loans previously charged-off | |||||||||||||||||||||||
Net loan (charge-offs) recoveries | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Provision for loan losses | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Foreign currency translation adjustment | ( | ) | ( | ) | |||||||||||||||||||
Balance at end of period | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Six Months Ended June 30 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at beginning of period | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loan charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||
Recoveries on loans previously charged-off | |||||||||||||||||||||||
Net loan charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||
Provision for loan losses | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||
Foreign currency translation adjustment | ( | ) | ( | ) | |||||||||||||||||||
Balance at end of period | $ | $ | $ | $ | $ | $ | |||||||||||||||||
As a percentage of total loans | % | % | % | % | % | % | |||||||||||||||||
June 30 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Collectively evaluated for impairment | |||||||||||||||||||||||
Total allowance for loan losses | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Collectively evaluated for impairment | |||||||||||||||||||||||
Total loans evaluated for impairment | $ | $ | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Balance at beginning of period | $ | $ | $ | $ | |||||||||||
Provision for credit losses on lending-related commitments | ( | ) | ( | ) | |||||||||||
Balance at end of period | $ | $ | $ | $ |
Recorded Investment In: | |||||||||||||||||||
(in millions) | Impaired Loans with No Related Allowance | Impaired Loans with Related Allowance | Total Impaired Loans | Unpaid Principal Balance | Related Allowance for Loan Losses | ||||||||||||||
June 30, 2019 | |||||||||||||||||||
Business loans: | |||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | ||||||||||||||
Commercial mortgage: | |||||||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||||||
Other business lines (b) | |||||||||||||||||||
Total commercial mortgage | |||||||||||||||||||
Lease financing | |||||||||||||||||||
International | |||||||||||||||||||
Total business loans | |||||||||||||||||||
Retail loans: | |||||||||||||||||||
Residential mortgage | |||||||||||||||||||
Consumer: | |||||||||||||||||||
Home equity | |||||||||||||||||||
Other consumer | |||||||||||||||||||
Total consumer | |||||||||||||||||||
Total retail loans (c) | |||||||||||||||||||
Total individually evaluated impaired loans | $ | $ | $ | $ | $ | ||||||||||||||
December 31, 2018 | |||||||||||||||||||
Business loans: | |||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | ||||||||||||||
Commercial mortgage: | |||||||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||||||
Other business lines (b) | |||||||||||||||||||
Total commercial mortgage | |||||||||||||||||||
International | |||||||||||||||||||
Total business loans | |||||||||||||||||||
Retail loans: | |||||||||||||||||||
Residential mortgage | |||||||||||||||||||
Consumer: | |||||||||||||||||||
Home equity | |||||||||||||||||||
Other consumer | |||||||||||||||||||
Total consumer | |||||||||||||||||||
Total retail loans (c) | |||||||||||||||||||
Total individually evaluated impaired loans | $ | $ | $ | $ | $ |
(a) | Primarily loans to real estate developers. |
(b) | Primarily loans secured by owner-occupied real estate. |
(c) | Individually evaluated retail loans generally have no related allowance for loan losses, primarily due to policy which results in direct write-downs of most restructured retail loans. |
Individually Evaluated Impaired Loans | |||||||||||||||
2019 | 2018 | ||||||||||||||
(in millions) | Average Balance for the Period | Interest Income Recognized for the Period | Average Balance for the Period | Interest Income Recognized for the Period | |||||||||||
Three Months Ended June 30 | |||||||||||||||
Business loans: | |||||||||||||||
Commercial | $ | $ | $ | $ | |||||||||||
Commercial mortgage: | |||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||
Other business lines (b) | |||||||||||||||
Total commercial mortgage | |||||||||||||||
Lease financing | |||||||||||||||
International | |||||||||||||||
Total business loans | |||||||||||||||
Retail loans: | |||||||||||||||
Residential mortgage | |||||||||||||||
Consumer loans: | |||||||||||||||
Home equity | |||||||||||||||
Other consumer | |||||||||||||||
Total consumer | |||||||||||||||
Total retail loans | |||||||||||||||
Total individually evaluated impaired loans | $ | $ | $ | $ | |||||||||||
Six Months Ended June 30 | |||||||||||||||
Business loans: | |||||||||||||||
Commercial | $ | $ | $ | $ | |||||||||||
Commercial mortgage: | |||||||||||||||
Commercial Real Estate business line (a) | |||||||||||||||
Other business lines (b) | |||||||||||||||
Total commercial mortgage | |||||||||||||||
Lease financing | |||||||||||||||
International | |||||||||||||||
Total business loans | |||||||||||||||
Retail loans: | |||||||||||||||
Residential mortgage | |||||||||||||||
Consumer: | |||||||||||||||
Home equity | |||||||||||||||
Other consumer | |||||||||||||||
Total consumer | |||||||||||||||
Total retail loans | |||||||||||||||
Total individually evaluated impaired loans | $ | $ | $ | $ |
(a) | Primarily loans to real estate developers. |
(b) | Primarily loans secured by owner-occupied real estate. |
(in millions) | 2019 | 2018 | |||||||||||||||||||||
Type of Modification | Type of Modification | ||||||||||||||||||||||
(in millions) | Principal Deferrals (a) | Interest Rate Reductions | Total Modifications | Principal Deferrals (a) | Interest Rate Reductions | Total Modifications | |||||||||||||||||
Three Months Ended June 30, | |||||||||||||||||||||||
Business loans: | |||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Commercial mortgage: | |||||||||||||||||||||||
Other business lines (b) | |||||||||||||||||||||||
Total business loans | |||||||||||||||||||||||
Retail loans: | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||
Home equity (c) | |||||||||||||||||||||||
Total loans | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||||||||
Business loans: | |||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Commercial mortgage: | |||||||||||||||||||||||
Other business lines (b) | |||||||||||||||||||||||
Total business loans | |||||||||||||||||||||||
Retail loans: | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||
Home equity (c) | |||||||||||||||||||||||
Total loans | $ | $ | $ | $ | $ | $ |
(a) |
(b) | Primarily loans secured by owner-occupied real estate. |
(c) | Includes bankruptcy loans for which the court has discharged the borrower's obligation and the borrower has not reaffirmed the debt. |
Principal Deferrals | |||||||
(in millions) | 2019 | 2018 | |||||
June 30 | |||||||
Business loans: | |||||||
Commercial | $ | $ | |||||
Commercial mortgage: | |||||||
Commercial Real Estate business line (a) | |||||||
Other business lines (b) | |||||||
Total commercial mortgage | |||||||
Total business loans | |||||||
Retail loans: | |||||||
Consumer: | |||||||
Home equity (c) | |||||||
Total loans | $ | $ |
(a) | Primarily loans to real estate developers. |
(b) | Primarily loans secured by owner-occupied real estate. |
(c) | Includes bankruptcy loans for which the court has discharged the borrower's obligation and the borrower has not reaffirmed the debt. |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||
(in millions) | Notional/ Contract Amount (a) | Gross Derivative Assets | Gross Derivative Liabilities | Notional/ Contract Amount (a) | Gross Derivative Assets | Gross Derivative Liabilities | |||||||||||||||||
Risk management purposes | |||||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||
Swaps - fair value - receive fixed/pay floating | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Swaps - cash flow - receive fixed/pay floating | |||||||||||||||||||||||
Derivatives used as economic hedges | |||||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||
Spot, forwards and swaps | |||||||||||||||||||||||
Total risk management purposes | |||||||||||||||||||||||
Customer-initiated and other activities | |||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||
Caps and floors written | |||||||||||||||||||||||
Caps and floors purchased | |||||||||||||||||||||||
Swaps | |||||||||||||||||||||||
Total interest rate contracts | |||||||||||||||||||||||
Energy contracts: | |||||||||||||||||||||||
Caps and floors written | |||||||||||||||||||||||
Caps and floors purchased | |||||||||||||||||||||||
Swaps | |||||||||||||||||||||||
Total energy contracts | |||||||||||||||||||||||
Foreign exchange contracts: | |||||||||||||||||||||||
Spot, forwards, options and swaps | |||||||||||||||||||||||
Total customer-initiated and other activities | |||||||||||||||||||||||
Total gross derivatives | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Amounts offset in the Consolidated Balance Sheets: | |||||||||||||||||||||||
Netting adjustment - Offsetting derivative assets/liabilities | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||
Netting adjustment - Cash collateral received/posted | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||
Net derivatives included in the Consolidated Balance Sheets (b) | |||||||||||||||||||||||
Amounts not offset in the Consolidated Balance Sheets: | |||||||||||||||||||||||
Marketable securities pledged under bilateral collateral agreements | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Net derivatives after deducting amounts not offset in the Consolidated Balance Sheets | $ | $ | $ | $ |
(a) | Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the Consolidated Balance Sheets. |
(b) | Net derivative assets are included in accrued income and other assets and net derivative liabilities are included in accrued expenses and other liabilities on the Consolidated Balance Sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and credit risk of the Corporation. The fair value of net derivative assets included credit valuation adjustments for counterparty credit risk of $ |
Interest on Medium- and Long-Term Debt | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Total interest on medium-and long-term debt (a) | $ | $ | $ | $ | |||||||||||
Fair value hedging relationships: | |||||||||||||||
Interest rate contracts: | |||||||||||||||
Hedged items | |||||||||||||||
Derivatives designated as hedging instruments | ( | ) | ( | ) |
Weighted Average | |||||||||||||
(dollar amounts in millions) | Derivative Notional Amount | Carrying Value of Hedged Items (a) | Remaining Maturity (in years) | Receive Rate | Pay Rate (b) | ||||||||
June 30, 2019 | |||||||||||||
Swaps - cash flow - receive fixed/pay floating rate | |||||||||||||
Variable rate loans | $ | 3.1 | |||||||||||
Swaps - fair value - receive fixed/pay floating rate | |||||||||||||
Medium- and long-term debt | $ | 4.7 | |||||||||||
December 31, 2018 | |||||||||||||
Swaps - fair value - receive fixed/pay floating rate | |||||||||||||
Medium- and long-term debt | 3.9 |
(a) |
(b) |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
(in millions) | Location of Gain | 2019 | 2018 | 2019 | 2018 | ||||||||||||
Interest rate contracts | Other noninterest income | $ | $ | $ | $ | ||||||||||||
Energy contracts | Other noninterest income | ||||||||||||||||
Foreign exchange contracts | Foreign exchange income | ||||||||||||||||
Total | $ | $ | $ | $ |
(in millions) | June 30, 2019 | December 31, 2018 | |||||
Unused commitments to extend credit: | |||||||
Commercial and other | $ | $ | |||||
Bankcard, revolving check credit and home equity loan commitments | |||||||
Total unused commitments to extend credit | $ | $ | |||||
Standby letters of credit | $ | $ | |||||
Commercial letters of credit |
(dollar amounts in millions) | June 30, 2019 | December 31, 2018 | |||||
Total criticized standby and commercial letters of credit | $ | $ | |||||
As a percentage of total outstanding standby and commercial letters of credit | % | % |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Other noninterest income: | |||||||||||||||
Amortization of other tax credit investments | $ | $ | $ | $ | |||||||||||
Provision for income taxes: | |||||||||||||||
Amortization of LIHTC investments | |||||||||||||||
Low income housing tax credits | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Other tax benefits related to tax credit entities | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Total provision for income taxes | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) |
(in millions) | June 30, 2019 | December 31, 2018 | |||||
Parent company | |||||||
Subordinated notes: | |||||||
3.80% subordinated notes due 2026 (a) | $ | $ | |||||
Medium- and long-term notes: | |||||||
2.125% notes due 2019 (a) | |||||||
3.70% notes due 2023 (a) | |||||||
4.00% notes due 2029 (a) | |||||||
Total medium- and long-term notes | |||||||
Total parent company | |||||||
Subsidiaries | |||||||
Subordinated notes: | |||||||
4.00% subordinated notes due 2025 (a) | |||||||
7.875% subordinated notes due 2026 (a) | |||||||
Total subordinated notes | |||||||
Medium-term notes: | |||||||
2.50% notes due 2020 (a) | |||||||
Federal Home Loan Bank (FHLB) advances: | |||||||
Floating-rate based on FHLB auction rate due 2026 | |||||||
Floating-rate based on FHLB auction rate due 2028 | |||||||
Total FHLB advances | |||||||
Total subsidiaries | |||||||
Total medium- and long-term debt | $ | $ |
(a) | The fixed interest rates on these notes have been swapped to a variable rate and designated in a hedging relationship. Accordingly, carrying value has been adjusted to reflect the change in the fair value of the debt as a result of changes in the benchmark rate. |
Six Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Accumulated net unrealized gains (losses) on investment securities: | |||||||
Balance at beginning of period, net of tax | $ | ( | ) | $ | ( | ) | |
Cumulative effect of change in accounting principle | |||||||
Net unrealized holding gains (losses) arising during the period | ( | ) | |||||
Less: Provision (benefit) for income taxes | ( | ) | |||||
Net unrealized holding gains (losses) arising during the period, net of tax | ( | ) | |||||
Less: | |||||||
Net realized losses included in net securities losses | ( | ) | |||||
Less: Benefit for income taxes | ( | ) | |||||
Reclassification adjustment for net securities losses included in net income, net of tax | ( | ) | |||||
Change in net unrealized gains (losses) on investment securities, net of tax | ( | ) | |||||
Balance at end of period, net of tax | $ | $ | ( | ) | |||
Accumulated net gains on cash flow hedges: | |||||||
Balance at beginning of period, net of tax | $ | $ | |||||
Net cash flow hedge gains arising during the period | |||||||
Less: Provision for income taxes | |||||||
Change in net cash flow hedge gains arising during the period, net of tax | |||||||
Less: | |||||||
Net cash flow hedge losses included in interest and fees on loans | ( | ) | |||||
Change in net cash flow hedge gains, net of tax | |||||||
Balance at end of period, net of tax (a) | $ | $ | |||||
Accumulated defined benefit pension and other postretirement plans adjustment: | |||||||
Balance at beginning of period, net of tax | $ | ( | ) | $ | ( | ) | |
Amortization of actuarial net loss | |||||||
Amortization of prior service credit | ( | ) | ( | ) | |||
Amounts recognized in other noninterest expense | |||||||
Less: Provision for income taxes | |||||||
Change in defined benefit pension and other postretirement plans adjustment, net of tax | |||||||
Balance at end of period, net of tax | $ | ( | ) | $ | ( | ) | |
Total accumulated other comprehensive loss at end of period, net of tax | $ | ( | ) | $ | ( | ) |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(in millions, except per share data) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Basic and diluted | |||||||||||||||
Net income | $ | $ | $ | $ | |||||||||||
Less: Income allocated to participating securities | |||||||||||||||
Net income attributable to shares | $ | $ | $ | $ | |||||||||||
Basic average shares | |||||||||||||||
Basic net income per share | $ | $ | $ | $ | |||||||||||
Basic average shares | |||||||||||||||
Dilutive stock equivalents: | |||||||||||||||
Net effect of the assumed exercise of stock options | |||||||||||||||
Net effect of the assumed exercise of warrants | |||||||||||||||
Diluted average shares | |||||||||||||||
Diluted net income per share | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||
2019 | 2018 | 2019 | 2018 | ||||||
Average outstanding options | 470,162 | — | 446,610 | — | |||||
Range of exercise prices | $79.01 - $95.25 | — | $79.01 - $95.25 | — |
Qualified Defined Benefit Pension Plan | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
(in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Service cost | $ | $ | $ | $ | |||||||||||
Other components of net benefit credit: | |||||||||||||||
Interest cost | |||||||||||||||
Expected return on plan assets | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Amortization of prior service credit | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Amortization of net loss | |||||||||||||||
Total other components of net benefit credit | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Net periodic defined benefit credit | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) |
Non-Qualified Defined Benefit Pension Plan | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
(in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Service cost | $ | $ | $ | $ | |||||||||||
Other components of net benefit cost: | |||||||||||||||
Interest cost | |||||||||||||||
Amortization of prior service credit | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Amortization of net loss | |||||||||||||||
Total other components of net benefit cost | |||||||||||||||
Net periodic defined benefit cost | $ | $ | $ | $ |
Postretirement Benefit Plan | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
(in millions) | 2019 | 2018 | 2019 | 2018 | |||||||||||
Other components of net benefit credit: | |||||||||||||||
Interest cost | $ | $ | $ | $ | |||||||||||
Expected return on plan assets | ( | ) | ( | ) | ( | ) | |||||||||
Net periodic defined benefit credit | $ | $ | ( | ) | $ | $ | ( | ) |
Business Bank | Retail Bank | Wealth Management | Finance | Other | Total | ||||||||||||||||||
(dollar amounts in millions) | |||||||||||||||||||||||
Three Months Ended June 30, 2019 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income (expense) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | |||||||||||||||||||
Noninterest income | ( | ) | |||||||||||||||||||||
Noninterest expenses | |||||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | |||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Net credit-related charge-offs (recoveries) | $ | $ | $ | ( | ) | $ | $ | $ | |||||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (a) | % | % | % | n/m | n/m | % | |||||||||||||||||
Efficiency ratio (b) | n/m | n/m | |||||||||||||||||||||
Three Months Ended June 30, 2018 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income (expense) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | ( | ) | |||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | (c) | ||||||||||||||||||||
Net income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Net credit-related (recoveries) charge-offs | $ | ( | ) | $ | $ | $ | $ | $ | ( | ) | |||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (a) | % | % | % | n/m | n/m | % | |||||||||||||||||
Efficiency ratio (b) | n/m | n/m |
(a) |
(b) | Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding net gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares. |
(c) | Included discrete tax benefits of $ |
(dollar amounts in millions) | Business Bank | Retail Bank | Wealth Management | Finance | Other | Total | |||||||||||||||||
Six Months Ended June 30, 2019 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income (expense) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | |||||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | ( | ) | (a) | ||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Net credit-related charge-offs (recoveries) | $ | $ | $ | ( | ) | $ | $ | $ | |||||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (b) | % | % | % | n/m | n/m | % | |||||||||||||||||
Efficiency ratio (c) | n/m | n/m | |||||||||||||||||||||
Six Months Ended June 30, 2018 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income (expense) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | ( | ) | |||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | ( | ) | (a) | ||||||||||||||||||
Net income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Net credit-related charge-offs (recoveries) | $ | $ | $ | ( | ) | $ | $ | $ | |||||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (b) | % | % | % | n/m | n/m | % | |||||||||||||||||
Efficiency ratio (c) | n/m | n/m |
(a) | Included discrete tax benefits of $ |
(b) | Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity. |
(c) | Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares. |
Michigan | California | Texas | Other Markets | Finance & Other | Total | ||||||||||||||||||
(dollar amounts in millions) | |||||||||||||||||||||||
Three Months Ended June 30, 2019 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income (expense) | $ | $ | $ | $ | $ | ( | ) | $ | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | |||||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | |||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | $ | ( | ) | $ | |||||||||||||||
Net credit-related charge-offs | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (a) | % | % | % | % | n/m | % | |||||||||||||||||
Efficiency ratio (b) | n/m | ||||||||||||||||||||||
Three Months Ended June 30, 2018 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | |||||||||||||||||||||||
Provision for income taxes | (c) | ||||||||||||||||||||||
Net income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Net credit-related charge-offs (recoveries) | $ | $ | $ | $ | ( | ) | $ | $ | ( | ) | |||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (a) | % | % | % | % | n/m | % | |||||||||||||||||
Efficiency ratio (b) | n/m |
(a) | Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity. |
(b) | Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding net gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares. |
(c) | Included discrete tax benefits of $ |
(dollar amounts in millions) | Michigan | California | Texas | Other Markets | Finance & Other | Total | |||||||||||||||||
Six Months Ended June 30, 2019 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income (expense) | $ | $ | $ | $ | $ | ( | ) | $ | |||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | |||||||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | |||||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | (a) | ||||||||||||||||||||
Net income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Net credit-related charge-offs (recoveries) | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (b) | % | % | % | % | n/m | % | |||||||||||||||||
Efficiency ratio (c) | n/m | ||||||||||||||||||||||
Six Months Ended June 30, 2018 | |||||||||||||||||||||||
Earnings summary: | |||||||||||||||||||||||
Net interest income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Provision for credit losses | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||
Noninterest income | |||||||||||||||||||||||
Noninterest expenses | |||||||||||||||||||||||
Provision (benefit) for income taxes | ( | ) | (a) | ||||||||||||||||||||
Net income | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Net credit-related (recoveries) charge-offs | $ | ( | ) | $ | $ | $ | $ | $ | |||||||||||||||
Selected average balances: | |||||||||||||||||||||||
Assets | $ | $ | $ | $ | $ | $ | |||||||||||||||||
Loans | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Statistical data: | |||||||||||||||||||||||
Return on average assets (b) | % | % | % | % | n/m | % | |||||||||||||||||
Efficiency ratio (c) | n/m |
(a) | Included discrete tax benefits of $ |
(b) | Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity. |
(c) | Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares. |
Business Bank | Retail Bank | Wealth Management | Finance & Other | Total | |||||||||||||||
(in millions) | |||||||||||||||||||
Three Months Ended June 30, 2019 | |||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||
Card fees | $ | $ | $ | $ | $ | ||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||
Fiduciary income | |||||||||||||||||||
Commercial loan servicing fees (a) | |||||||||||||||||||
Brokerage fees | |||||||||||||||||||
Other noninterest income (b) | |||||||||||||||||||
Total revenue from contracts with customers | |||||||||||||||||||
Other sources of noninterest income | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
Three Months Ended June 30, 2018 | |||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||
Card fees | $ | $ | $ | $ | $ | ||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||
Fiduciary income | |||||||||||||||||||
Commercial loan servicing fees (a) | |||||||||||||||||||
Brokerage fees | |||||||||||||||||||
Other noninterest income (b) | |||||||||||||||||||
Total revenue from contracts with customers | |||||||||||||||||||
Other sources of noninterest income | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
Six Months Ended June 30, 2019 | |||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||
Card fees | $ | $ | $ | $ | $ | ||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||
Fiduciary income | |||||||||||||||||||
Commercial loan servicing fees (a) | |||||||||||||||||||
Brokerage fees | |||||||||||||||||||
Other noninterest income (b) | |||||||||||||||||||
Total revenue from contracts with customers | |||||||||||||||||||
Other sources of noninterest income | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
Six Months Ended June 30, 2018 | |||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||
Card fees | $ | $ | $ | $ | $ | ||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||
Fiduciary income | |||||||||||||||||||
Commercial loan servicing fees (a) | |||||||||||||||||||
Brokerage fees | |||||||||||||||||||
Other noninterest income (b) | |||||||||||||||||||
Total revenue from contracts with customers | |||||||||||||||||||
Other sources of noninterest income | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ |
(a) | Included in commercial lending fees on the Consolidated Statements of Comprehensive Income. |
Excludes derivative, warrant and other miscellaneous income. |
(in millions) | |||
Years Ending December 31 | |||
2019 (a) | $ | ||
2020 | |||
2021 | |||
2022 | |||
2023 | |||
Thereafter | |||
Total contractual maturities | |||
Less imputed interest | ( | ) | |
Total operating lease liabilities | $ |
(a) | Contractual maturities for the six months remaining in 2019. |
(in millions) | |||
Years Ending December 31 | |||
2019 (a) | $ | ||
2020 | |||
2021 | |||
2022 | |||
2023 | |||
Thereafter | |||
Total lease payments receivable | |||
Unguaranteed residual values | |||
Less deferred interest income | ( | ) | |
Total lease receivables (b) | $ |
(a) | Contractual maturities for the six months remaining in 2019. |
(b) | Excludes net investment in leveraged leases of $215 million. |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||||
(in millions, except per share data) | Amount | Per Share | Amount | Per Share | Amount | Per Share | Amount | Per Share | |||||||||||||||||
Securities repositioning loss, net of tax (a) | $ | — | $ | — | $ | — | $ | — | $ | (6 | ) | $ | (0.04 | ) | $ | — | $ | — | |||||||
Restructuring charges, net of tax | — | — | (9 | ) | (0.05 | ) | — | — | (21 | ) | (0.12 | ) | |||||||||||||
Discrete tax items (b) | — | — | 3 | 0.02 | 11 | 0.07 | 25 | 0.14 |
(a) | Losses incurred on the sale of approximately $1 billion of treasury securities that were replaced by securities yielding about $1 million of additional interest per quarter. |
(b) | Primarily tax benefits from employee stock transactions. |
• | Growth in average loans of 3 percent to 4 percent, reflecting better than expected growth in the first half of 2019 and normal seasonality in the second half. |
• | Decline in average deposits of 2 percent coincident with loan growth and customers using cash in their businesses. |
• | Growth in net interest income of 2 percent from the full-year net benefit of higher interest rates, growth in average loans and repositioning the securities portfolio, partially offset by higher wholesale funding, a shift in deposit mix and lower interest recoveries. |
• | Provision for credit losses of 15 basis points to 20 basis points of total loans ($25 million to $35 million per quarter for the second half of 2019) and net charge-offs to remain low, with continued solid credit quality. |
• | Noninterest income higher by 1 percent to 2 percent, benefiting from growth in card fees and fiduciary income, partially offset by lower derivative income and service charges on deposit accounts. |
• | Noninterest expenses lower by 3 percent, reflecting the end of restructuring charges from the GEAR Up initiatives ($53 million in full-year 2018), FDIC insurance expense lower by $16 million from the discontinuance of the surcharge, as well as lower compensation and pension expense, partially offset by higher outside processing expenses in line with growing revenue, technology expenditures and typical inflationary pressures. |
◦ | Lower compensation driven by executive incentive compensation, partially offset by merit increases. |
◦ | Stable noninterest expenses, excluding restructuring charges. |
• | Income tax expense to be approximately 23 percent of pre-tax income, excluding any tax impact from employee stock transactions. |
◦ | Full-year 2018 included discrete tax benefits of $48 million. |
• | Common equity Tier 1 capital ratio target of approximately 10 percent. |
Three Months Ended | |||||||||||||||||
June 30, 2019 | June 30, 2018 | ||||||||||||||||
(dollar amounts in millions) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | |||||||||||
Commercial loans | $ | 32,607 | $ | 405 | 5.00 | % | $ | 30,966 | $ | 357 | 4.64 | % | |||||
Real estate construction loans | 3,319 | 47 | 5.74 | 3,189 | 41 | 5.12 | |||||||||||
Commercial mortgage loans | 9,060 | 116 | 5.12 | 9,174 | 107 | 4.65 | |||||||||||
Lease financing | 546 | 3 | 2.32 | 457 | 4 | 3.65 | |||||||||||
International loans | 1,025 | 14 | 5.30 | 981 | 13 | 5.02 | |||||||||||
Residential mortgage loans | 1,943 | 19 | 3.92 | 1,993 | 20 | 3.88 | |||||||||||
Consumer loans | 2,463 | 31 | 5.02 | 2,465 | 26 | 4.35 | |||||||||||
Total loans (a) | 50,963 | 635 | 5.00 | 49,225 | 568 | 4.63 | |||||||||||
Mortgage-backed securities | 9,326 | 58 | 2.45 | 9,098 | 52 | 2.25 | |||||||||||
Other investment securities | 2,765 | 17 | 2.47 | 2,701 | 12 | 1.71 | |||||||||||
Total investment securities | 12,091 | 75 | 2.45 | 11,799 | 64 | 2.12 | |||||||||||
Interest-bearing deposits with banks | 2,694 | 16 | 2.37 | 3,957 | 18 | 1.82 | |||||||||||
Other short-term investments | 142 | 1 | 1.34 | 133 | — | 0.94 | |||||||||||
Total earning assets | 65,890 | 727 | 4.42 | 65,114 | 650 | 3.98 | |||||||||||
Cash and due from banks | 900 | 1,235 | |||||||||||||||
Allowance for loan losses | (660 | ) | (708 | ) | |||||||||||||
Accrued income and other assets | 5,122 | 4,879 | |||||||||||||||
Total assets | $ | 71,252 | $ | 70,520 | |||||||||||||
Money market and interest-bearing checking deposits | $ | 22,913 | 53 | 0.93 | $ | 22,187 | 26 | 0.47 | |||||||||
Savings deposits | 2,169 | — | 0.03 | 2,231 | — | 0.04 | |||||||||||
Customer certificates of deposit | 2,346 | 7 | 1.10 | 2,063 | 2 | 0.38 | |||||||||||
Other time deposits | 1,156 | 7 | 2.46 | — | — | — | |||||||||||
Foreign office time deposits | 13 | — | 1.54 | 33 | — | 1.13 | |||||||||||
Total interest-bearing deposits | 28,597 | 67 | 0.94 | 26,514 | 28 | 0.42 | |||||||||||
Short-term borrowings | 927 | 6 | 2.42 | 56 | — | 1.74 | |||||||||||
Medium- and long-term debt | 6,712 | 51 | 3.00 | 5,584 | 32 | 2.24 | |||||||||||
Total interest-bearing sources | 36,236 | 124 | 1.36 | 32,154 | 60 | 0.74 | |||||||||||
Noninterest-bearing deposits | 26,398 | 29,316 | |||||||||||||||
Accrued expenses and other liabilities | 1,333 | 1,073 | |||||||||||||||
Total shareholders’ equity | 7,285 | 7,977 | |||||||||||||||
Total liabilities and shareholders’ equity | $ | 71,252 | $ | 70,520 | |||||||||||||
Net interest income/rate spread | $ | 603 | 3.06 | $ | 590 | 3.24 | |||||||||||
Impact of net noninterest-bearing sources of funds | 0.61 | 0.38 | |||||||||||||||
Net interest margin (as a percentage of average earning assets) | 3.67 | % | 3.62 | % |
(a) | Nonaccrual loans are included in average balances reported and in the calculation of average rates. |
Three Months Ended | ||||||||||||
June 30, 2019/June 30, 2018 | ||||||||||||
(in millions) | Increase Due to Rate | Increase (Decrease) Due to Volume (a) | Net Increase (Decrease) | |||||||||
Interest Income: | ||||||||||||
Loans | $ | 45 | $ | 22 | $ | 67 | ||||||
Investment securities | 9 | 2 | 11 | |||||||||
Interest-bearing deposits with banks | 5 | (7 | ) | (2 | ) | |||||||
Other short-term investments | 1 | — | 1 | |||||||||
Total interest income | 60 | 17 | 77 | |||||||||
Interest Expense: | ||||||||||||
Interest-bearing deposits | 32 | 7 | 39 | |||||||||
Short-term borrowings | — | 6 | 6 | |||||||||
Medium- and long-term debt | 9 | 10 | 19 | |||||||||
Total interest expense | 41 | 23 | 64 | |||||||||
Net interest income | $ | 19 | $ | (6 | ) | $ | 13 |
(a) | Rate/volume variances are allocated to variances due to volume. |
Three Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Card fees | $ | 65 | $ | 60 | |||
Service charges on deposit accounts | 51 | 53 | |||||
Fiduciary income | 52 | 52 | |||||
Commercial lending fees | 21 | 23 | |||||
Foreign exchange income | 11 | 12 | |||||
Letter of credit fees | 10 | 11 | |||||
Bank-owned life insurance | 11 | 9 | |||||
Brokerage fees | 7 | 6 | |||||
Other noninterest income (a) | 22 | 22 | |||||
Total noninterest income | $ | 250 | $ | 248 |
(a) | The table below provides further details on certain categories included in other noninterest income. |
Three Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Customer derivative income | $ | 6 | $ | 6 | |||
Investment banking fees | 1 | 1 | |||||
Deferred compensation asset returns (a) | — | 1 | |||||
Securities trading income | 2 | 2 | |||||
Income from principal investing and warrants | 2 | 1 | |||||
All other noninterest income | 11 | 11 | |||||
Other noninterest income | $ | 22 | $ | 22 |
(a) | Compensation deferred by the Corporation's officers and directors is invested based on investment selections of the officers and directors. Income earned on these assets is reported in other noninterest income and the offsetting change in deferred compensation plan liabilities is reported in salaries and benefits expense. |
Three Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Salaries and benefits expense | $ | 245 | $ | 250 | |||
Outside processing fee expense | 65 | 64 | |||||
Net occupancy expense | 37 | 37 | |||||
Software expense | 28 | 32 | |||||
Equipment expense | 12 | 11 | |||||
FDIC insurance expense | 6 | 12 | |||||
Advertising expense | 9 | 8 | |||||
Restructuring charges | — | 11 | |||||
Other noninterest expenses | 22 | 23 | |||||
Total noninterest expenses | $ | 424 | $ | 448 |
Six Months Ended | |||||||||||||||||
June 30, 2019 | June 30, 2018 | ||||||||||||||||
(dollar amounts in millions) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | |||||||||||
Commercial loans | $ | 32,037 | $ | 799 | 5.04 | % | $ | 30,556 | $ | 672 | 4.44 | % | |||||
Real estate construction loans | 3,279 | 93 | 5.74 | 3,129 | 77 | 4.93 | |||||||||||
Commercial mortgage loans | 9,028 | 230 | 5.13 | 9,195 | 205 | 4.49 | |||||||||||
Lease financing | 533 | 8 | 3.08 | 461 | 9 | 3.93 | |||||||||||
International loans | 1,019 | 27 | 5.33 | 989 | 24 | 4.81 | |||||||||||
Residential mortgage loans | 1,954 | 38 | 3.89 | 2,002 | 38 | 3.78 | |||||||||||
Consumer loans | 2,473 | 61 | 5.00 | 2,493 | 52 | 4.24 | |||||||||||
Total loans (a) | 50,323 | 1,256 | 5.03 | 48,825 | 1,077 | 4.45 | |||||||||||
Mortgage-backed securities | 9,275 | 114 | 2.43 | 9,133 | 104 | 2.23 | |||||||||||
Other investment securities | 2,748 | 33 | 2.40 | 2,722 | 24 | 1.71 | |||||||||||
Total investment securities | 12,023 | 147 | 2.42 | 11,855 | 128 | 2.11 | |||||||||||
Interest-bearing deposits with banks | 2,773 | 33 | 2.38 | 4,251 | 35 | 1.68 | |||||||||||
Other short-term investments | 138 | 1 | 1.34 | 132 | — | 0.84 | |||||||||||
Total earning assets | 65,257 | 1,437 | 4.43 | 65,063 | 1,240 | 3.83 | |||||||||||
Cash and due from banks | 912 | 1,248 | |||||||||||||||
Allowance for loan losses | (666 | ) | (713 | ) | |||||||||||||
Accrued income and other assets | 5,012 | 4,825 | |||||||||||||||
Total assets | $ | 70,515 | $ | 70,423 | |||||||||||||
Money market and interest-bearing checking deposits | $ | 22,763 | 100 | 0.88 | $ | 22,039 | 40 | 0.37 | |||||||||
Savings deposits | 2,169 | — | 0.04 | 2,205 | — | 0.03 | |||||||||||
Customer certificates of deposit | 2,258 | 11 | 0.96 | 2,092 | 4 | 0.36 | |||||||||||
Other time deposits | 661 | 8 | 2.45 | — | — | — | |||||||||||
Foreign office time deposits | 13 | — | 1.54 | 32 | — | 1.13 | |||||||||||
Total interest-bearing deposits | 27,864 | 119 | 0.86 | 26,368 | 44 | 0.34 | |||||||||||
Short-term borrowings | 576 | 7 | 2.42 | 45 | — | 1.63 | |||||||||||
Medium- and long-term debt | 6,703 | 102 | 3.03 | 5,390 | 57 | 2.11 | |||||||||||
Total interest-bearing sources | 35,143 | 228 | 1.30 | 31,803 | 101 | 0.64 | |||||||||||
Noninterest-bearing deposits | 26,634 | 29,591 | |||||||||||||||
Accrued expenses and other liabilities | 1,367 | 1,077 | |||||||||||||||
Total shareholders’ equity | 7,371 | 7,952 | |||||||||||||||
Total liabilities and shareholders’ equity | $ | 70,515 | $ | 70,423 | |||||||||||||
Net interest income/rate spread | $ | 1,209 | 3.13 | $ | 1,139 | 3.19 | |||||||||||
Impact of net noninterest-bearing sources of funds | 0.60 | 0.33 | |||||||||||||||
Net interest margin (as a percentage of average earning assets) | 3.73 | % | 3.52 | % |
(a) | Nonaccrual loans are included in average balances reported and in the calculation of average rates. |
Six Months Ended | ||||||||||||
June 30, 2019/June 30, 2018 | ||||||||||||
(in millions) | Increase Due to Rate | Increase (Decrease) Due to Volume (a) | Net Increase (Decrease) | |||||||||
Interest Income: | ||||||||||||
Loans | $ | 143 | $ | 36 | $ | 179 | ||||||
Investment securities | 15 | 4 | 19 | |||||||||
Interest-bearing deposits with banks | 15 | (17 | ) | (2 | ) | |||||||
Other short-term investments | 1 | — | 1 | |||||||||
Total interest income | 174 | 23 | 197 | |||||||||
Interest Expense: | ||||||||||||
Interest-bearing deposits | 67 | 8 | 75 | |||||||||
Short-term borrowings | — | 7 | 7 | |||||||||
Medium- and long-term debt | 21 | 24 | 45 | |||||||||
Total interest expense | 88 | 39 | 127 | |||||||||
Net interest income | $ | 86 | $ | (16 | ) | $ | 70 |
(a) | Rate/volume variances are allocated to variances due to volume. |
Six Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Card fees | $ | 128 | $ | 119 | |||
Service charges on deposit accounts | 102 | 107 | |||||
Fiduciary income | 101 | 104 | |||||
Commercial lending fees | 43 | 41 | |||||
Foreign exchange income | 22 | 24 | |||||
Letter of credit fees | 19 | 21 | |||||
Bank-owned life insurance | 20 | 18 | |||||
Brokerage fees | 14 | 13 | |||||
Net securities gains (losses) | (8 | ) | 1 | ||||
Other noninterest income (a) | 47 | 44 | |||||
Total noninterest income | $ | 488 | $ | 492 |
(a) | The table below provides further details on certain categories included in other noninterest income. |
Six Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Customer derivative income | $ | 13 | $ | 10 | |||
Investment banking fees | 3 | 4 | |||||
Deferred compensation asset returns (a) | 2 | 2 | |||||
Securities trading income | 4 | 5 | |||||
Income from principal investing and warrants | 3 | 1 | |||||
All other noninterest income | 22 | 22 | |||||
Other noninterest income | $ | 47 | $ | 44 |
(a) | Compensation deferred by the Corporation's officers and directors is invested based on investment selections of the officers and directors. Income earned on these assets is reported in other noninterest income and the offsetting change in deferred compensation plan liabilities is reported in salaries and benefits expense. |
Six Months Ended June 30, | |||||||
(in millions) | 2019 | 2018 | |||||
Salaries and benefits expense | $ | 510 | $ | 505 | |||
Outside processing fee expense | 128 | 125 | |||||
Net occupancy expense | 74 | 75 | |||||
Software expense | 57 | 63 | |||||
Equipment expense | 24 | 22 | |||||
FDIC insurance expense | 11 | 25 | |||||
Advertising expense | 14 | 14 | |||||
Restructuring charges | — | 27 | |||||
Other noninterest expenses | 39 | 38 | |||||
Total noninterest expenses | $ | 857 | $ | 894 |
Six Months Ended June 30, | |||||||||||||
(dollar amounts in millions) | 2019 | 2018 | |||||||||||
Business Bank | $ | 512 | 80 | % | $ | 491 | 85 | % | |||||
Retail Bank | 51 | 8 | 26 | 5 | |||||||||
Wealth Management | 73 | 12 | 60 | 10 | |||||||||
636 | 100 | % | 577 | 100 | % | ||||||||
Finance | (13 | ) | 9 | ||||||||||
Other (a) | 14 | 21 | |||||||||||
Total | $ | 637 | $ | 607 |
(a) | Included discrete tax benefits of $11 million and $25 million for the six months ended June 30, 2019 and 2018, respectively. |
Six Months Ended June 30, | |||||||||||||
(dollar amounts in millions) | 2019 | 2018 | |||||||||||
Michigan | $ | 192 | 30 | % | $ | 137 | 24 | % | |||||
California | 223 | 35 | 197 | 34 | |||||||||
Texas | 81 | 13 | 106 | 18 | |||||||||
Other Markets | 140 | 22 | 137 | 24 | |||||||||
636 | 100 | % | 577 | 100 | % | ||||||||
Finance & Other (a) | 1 | 30 | |||||||||||
Total | $ | 637 | $ | 607 |
(a) | Included discrete tax benefits of $11 million and $25 million for the six months ended June 30, 2019 and 2018, respectively. |
June 30, | |||||
2019 | 2018 | ||||
Michigan | 192 | 194 | |||
Texas | 123 | 122 | |||
California | 96 | 97 | |||
Other Markets | 25 | 25 | |||
Total | 436 | 438 |
Three Months Ended | Percent Change | |||||||||||||
(average balances; dollar amounts in millions) | June 30, 2019 | December 31, 2018 | Change | |||||||||||
By Loan Type: | ||||||||||||||
Commercial loans | $ | 32,607 | $ | 30,651 | $ | 1,956 | 6 | % | ||||||
Real estate construction loans | 3,319 | 3,164 | 155 | 5 | ||||||||||
Commercial mortgage loans | 9,060 | 9,051 | 9 | — | ||||||||||
Lease financing | 546 | 495 | 51 | 10 | ||||||||||
International loans | 1,025 | 1,035 | (10 | ) | (1 | ) | ||||||||
Residential mortgage loans | 1,943 | 1,968 | (25 | ) | (1 | ) | ||||||||
Consumer loans | 2,463 | 2,468 | (5 | ) | — | |||||||||
Total loans | $ | 50,963 | $ | 48,832 | $ | 2,131 | 4 | % | ||||||
Loans By Geographic Market: | ||||||||||||||
Michigan | $ | 12,704 | $ | 12,457 | $ | 247 | 2 | % | ||||||
California | 18,928 | 18,279 | 649 | 4 | ||||||||||
Texas | 10,692 | 9,889 | 803 | 8 | ||||||||||
Other Markets | 8,639 | 8,207 | 432 | 5 | ||||||||||
Total loans | $ | 50,963 | $ | 48,832 | $ | 2,131 | 4 | % |
(in millions) | |||||||
Balance at January 1, 2019 | $ | 7,507 | |||||
Cumulative effect of change in accounting principle | (14 | ) | |||||
Net income | 637 | ||||||
Cash dividends declared on common stock | (205 | ) | |||||
Purchase of common stock | (859 | ) | |||||
Other comprehensive income: | |||||||
Investment securities | $ | 181 | |||||
Cash flow hedges | 40 | ||||||
Defined benefit and other postretirement plans | 6 | ||||||
Total other comprehensive income | 227 | ||||||
Issuance of common stock under employee stock plans | (2 | ) | |||||
Share-based compensation | 32 | ||||||
Balance at June 30, 2019 | $ | 7,323 |
(shares in thousands) | Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans or Programs | Remaining Share Repurchase Authorization (a) | Total Number of Shares Purchased (b) | Average Price Paid Per Share | ||||||||
Total first quarter 2019 | 5,094 | 14,613 | 5,216 | $ | 83.48 | |||||||
April 2019 | 1,944 | 12,669 | 1,946 | 77.91 | ||||||||
May 2019 | 3,225 | 9,444 | 3,225 | 74.11 | ||||||||
June 2019 | 487 | 8,957 | 487 | 70.80 | ||||||||
Total second quarter 2019 | 5,656 | 8,957 | 5,658 | 75.13 | ||||||||
Total 2019 year-to-date | 10,750 | 8,957 | 10,874 | 79.13 |
(a) | Maximum number of shares that may yet be purchased under the publicly announced plans or programs. |
(b) | Includes approximately 124,000 shares purchased pursuant to deferred compensation plans and shares purchased from employees to pay for taxes related to restricted stock vesting under the terms of an employee share-based compensation plan during the six months ended June 30, 2019. These transactions are not considered part of the Corporation's repurchase program. |
Common equity tier 1 capital to risk-weighted assets | 4.50 | % |
Tier 1 capital to risk-weighted assets | 6.00 | |
Total capital to risk-weighted assets | 8.00 | |
Capital conservation buffer (a) | 2.50 | |
Tier 1 capital to adjusted average assets (leverage ratio) | 4.00 |
(a) | In addition to the minimum risk-based capital requirements, the Corporation is required to maintain a minimum capital conservation buffer, in the form of common equity, in order to avoid restrictions on capital distributions and discretionary bonuses. |
June 30, 2019 | December 31, 2018 | ||||||||||||
(dollar amounts in millions) | Capital/Assets | Ratio | Capital/Assets | Ratio | |||||||||
Common equity tier 1 and tier 1 risk based (a) | $ | 7,060 | 10.19 | % | $ | 7,470 | 11.14 | % | |||||
Total risk-based (a) | 8,446 | 12.19 | 8,855 | 13.21 | |||||||||
Leverage (a) | 7,060 | 9.90 | 7,470 | 10.51 | |||||||||
Common equity | 7,323 | 10.10 | 7,507 | 10.60 | |||||||||
Tangible common equity (b) | 6,684 | 9.30 | 6,866 | 9.78 | |||||||||
Risk-weighted assets (a) | 69,291 | 67,047 |
(a) | June 30, 2019 capital, risk-weighted assets and ratios are estimated. |
(b) | See Supplemental Financial Data section for reconcilements of non-GAAP financial measures. |
(dollar amounts in millions) | June 30, 2019 | December 31, 2018 | |||||
Nonaccrual loans: | |||||||
Business loans: | |||||||
Commercial | $ | 155 | $ | 141 | |||
Commercial mortgage | 12 | 20 | |||||
Lease financing | 1 | 2 | |||||
International | 3 | 3 | |||||
Total nonaccrual business loans | 171 | 166 | |||||
Retail loans: | |||||||
Residential mortgage | 35 | 36 | |||||
Consumer: | |||||||
Home equity | 18 | 19 | |||||
Total nonaccrual retail loans | 53 | 55 | |||||
Total nonaccrual loans | 224 | 221 | |||||
Reduced-rate loans | 6 | 8 | |||||
Total nonperforming loans | 230 | 229 | |||||
Foreclosed property | 3 | 1 | |||||
Total nonperforming assets | $ | 233 | $ | 230 | |||
Nonperforming loans as a percentage of total loans | 0.44 | % | 0.46 | % | |||
Nonperforming assets as a percentage of total loans and foreclosed property | 0.45 | 0.46 | |||||
Allowance for loan losses as a multiple of total nonperforming loans | 2.9x | 2.9x | |||||
Loans past due 90 days or more and still accruing | $ | 17 | $ | 16 | |||
Loans past due 90 days or more and still accruing as a percentage of total loans | 0.03 | % | 0.03 | % |
(in millions) | June 30, 2019 | December 31, 2018 | |||||
Nonperforming TDRs: | |||||||
Nonaccrual TDRs | $ | 71 | $ | 73 | |||
Reduced-rate TDRs | 6 | 8 | |||||
Total nonperforming TDRs | 77 | 81 | |||||
Performing TDRs (a) | 61 | 101 | |||||
Total TDRs | $ | 138 | $ | 182 |
(a) | TDRs that do not include a reduction in the original contractual interest rate which are performing in accordance with their modified terms. |
Three Months Ended | |||||||||||
(in millions) | June 30, 2019 | March 31, 2019 | December 31, 2018 | ||||||||
Balance at beginning of period | $ | 191 | $ | 221 | $ | 230 | |||||
Loans transferred to nonaccrual (a) | 93 | 4 | 42 | ||||||||
Nonaccrual loan gross charge-offs | (44 | ) | (20 | ) | (21 | ) | |||||
Loans transferred to accrual status (a) | — | — | (3 | ) | |||||||
Nonaccrual loans sold | (5 | ) | — | (5 | ) | ||||||
Payments/other (b) | (11 | ) | (14 | ) | (22 | ) | |||||
Balance at end of period | $ | 224 | $ | 191 | $ | 221 |
(a) | Based on an analysis of nonaccrual loans with book balances greater than $2 million. |
(b) | Includes net changes related to nonaccrual loans with balances less than $2 million, payments on nonaccrual loans with book balances greater than $2 million and transfers of nonaccrual loans to foreclosed property. |
June 30, 2019 | December 31, 2018 | ||||||||||||
(dollar amounts in millions) | Number of Borrowers | Balance | Number of Borrowers | Balance | |||||||||
Under $2 million | 756 | $ | 72 | 799 | $ | 78 | |||||||
$2 million - $5 million | 12 | 32 | 14 | 41 | |||||||||
$5 million - $10 million | 5 | 34 | 10 | 69 | |||||||||
$10 million - $25 million | 5 | 86 | 2 | 33 | |||||||||
Total | 778 | $ | 224 | 825 | $ | 221 |
June 30, 2019 | Three Months Ended June 30, 2019 | |||||||||||||||||||
(dollar amounts in millions) | Nonaccrual Loans | Loans Transferred to Nonaccrual (a) | Net Loan Charge-Offs (Recoveries) | |||||||||||||||||
Industry Category | ||||||||||||||||||||
Mining, Quarrying and Oil & Gas Extraction | $ | 84 | 38 | % | $ | 88 | 93 | % | $ | 25 | 76 | % | ||||||||
Residential Mortgage | 35 | 15 | — | — | — | — | ||||||||||||||
Manufacturing | 25 | 11 | 3 | 4 | 1 | 3 | ||||||||||||||
Health Care & Social Assistance | 11 | 5 | — | — | 2 | 8 | ||||||||||||||
Services | 11 | 5 | 2 | 3 | 5 | 14 | ||||||||||||||
Contractors | 10 | 5 | — | — | — | — | ||||||||||||||
Real Estate & Home Builders | 8 | 3 | — | — | (1 | ) | (4 | ) | ||||||||||||
Information & Communication | 7 | 3 | — | — | 1 | 3 | ||||||||||||||
Wholesale Trade | 4 | 2 | — | — | — | — | ||||||||||||||
Other (b) | 29 | 13 | — | — | — | — | ||||||||||||||
Total | $ | 224 | 100 | % | $ | 93 | 100 | % | $ | 33 | 100 | % |
(a) | Based on an analysis of nonaccrual loans with book balances greater than $2 million. |
(b) | Consumer, excluding residential mortgage and certain personal purpose nonaccrual loans and net charge-offs, are included in the Other category. |
(dollar amounts in millions) | June 30, 2019 | March 31, 2019 | December 31, 2018 | ||||||||
Total criticized loans | $ | 1,948 | $ | 1,806 | $ | 1,548 | |||||
As a percentage of total loans | 3.8 | % | 3.6 | % | 3.1 | % |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||
(in millions) | Commercial Real Estate business line (a) | Other (b) | Total | Commercial Real Estate business line (a) | Other (b) | Total | |||||||||||||||||
Real estate construction loans | $ | 2,936 | $ | 356 | $ | 3,292 | $ | 2,687 | $ | 390 | $ | 3,077 | |||||||||||
Commercial mortgage loans | 1,897 | 7,320 | 9,217 | 1,743 | 7,363 | 9,106 | |||||||||||||||||
Total commercial real estate | $ | 4,833 | $ | 7,676 | $ | 12,509 | $ | 4,430 | $ | 7,753 | $ | 12,183 |
(a) | Primarily loans to real estate developers. |
(b) | Primarily loans secured by owner-occupied real estate. |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||||||
(dollar amounts in millions) | Residential Mortgage Loans | % of Total | Home Equity Loans | % of Total | Residential Mortgage Loans | % of Total | Home Equity Loans | % of Total | |||||||||||||||||||
Geographic market: | |||||||||||||||||||||||||||
Michigan | $ | 426 | 22 | % | $ | 624 | 36 | % | $ | 406 | 21 | % | $ | 650 | 37 | % | |||||||||||
California | 960 | 51 | 720 | 40 | 993 | 50 | 710 | 40 | |||||||||||||||||||
Texas | 298 | 15 | 348 | 20 | 310 | 16 | 346 | 20 | |||||||||||||||||||
Other Markets | 240 | 12 | 61 | 4 | 261 | 13 | 59 | 3 | |||||||||||||||||||
Total | $ | 1,924 | 100 | % | $ | 1,753 | 100 | % | $ | 1,970 | 100 | % | $ | 1,765 | 100 | % |
June 30, 2019 | December 31, 2018 | ||||||||||||||||||||||
(dollar amounts in millions) | Outstandings | Nonaccrual | Criticized (a) | Outstandings | Nonaccrual | Criticized (a) | |||||||||||||||||
Exploration and production (E&P) | $ | 1,897 | 78 | % | $ | 83 | $ | 146 | $ | 1,771 | 82 | % | $ | 46 | $ | 143 | |||||||
Midstream | 457 | 19 | — | 44 | 298 | 14 | — | 43 | |||||||||||||||
Services | 80 | 3 | 1 | 20 | 94 | 4 | 2 | 19 | |||||||||||||||
Total Energy business line | $ | 2,434 | 100 | % | $ | 84 | $ | 210 | $ | 2,163 | 100 | % | $ | 48 | $ | 205 | |||||||
As a percentage of total Energy loans | 3 | % | 9 | % | 2 | % | 9 | % |
(a) | Includes nonaccrual loans. |
Estimated Annual Change | |||||||||||||
June 30, 2019 | December 31, 2018 | ||||||||||||
(in millions) | Amount | % | Amount | % | |||||||||
Change in Interest Rates: | |||||||||||||
Rising 200 basis points | $ | 105 | 4 | % | $ | 142 | 6 | % | |||||
Declining 200 basis points | (261 | ) | (11 | ) | (313 | ) | (12 | ) |
June 30, 2019 | December 31, 2018 | ||||||||||||
(in millions) | Amount | % | Amount | % | |||||||||
Change in Interest Rates: | |||||||||||||
Rising 200 basis points | $ | 755 | 7 | % | $ | 711 | 6 | % | |||||
Declining 200 basis points | (2,823 | ) | (26 | ) | (2,769 | ) | (21 | ) |
Comerica Incorporated | Comerica Bank | ||||
June 30, 2019 | Rating | Outlook | Rating | Outlook | |
Standard and Poor’s | BBB+ | Stable | A- | Stable | |
Moody’s Investors Service | A3 | Stable | A3 | Stable | |
Fitch Ratings | A | Stable | A | Stable |
(dollar amounts in millions) | June 30, 2019 | December 31, 2018 | |||||
Tangible Equity Ratio: | |||||||
Shareholders' equity | $ | 7,323 | $ | 7,507 | |||
Less: | |||||||
Goodwill | 635 | 635 | |||||
Other intangible assets | 4 | 6 | |||||
Tangible equity | $ | 6,684 | $ | 6,866 | |||
Total assets | $ | 72,537 | $ | 70,818 | |||
Less: | |||||||
Goodwill | 635 | 635 | |||||
Other intangible assets | 4 | 6 | |||||
Tangible assets | $ | 71,898 | $ | 70,177 | |||
Equity ratio | 10.10 | % | 10.60 | % | |||
Tangible equity ratio | 9.30 | 9.78 | |||||
Tangible Equity per Share of Stock: | |||||||
Shareholders' equity | $ | 7,323 | $ | 7,507 | |||
Tangible equity | 6,684 | 6,866 | |||||
Shares of stock outstanding (in millions) | 150 | 160 | |||||
Shareholders' equity per share of stock | 48.89 | 46.89 | |||||
Tangible equity per share of stock | 44.61 | 42.89 |
(a) | Evaluation of Disclosure Controls and Procedures. The Corporation maintains a set of disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) that are designed to ensure that information required to be disclosed by the Corporation in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to the Corporation's management, including the Corporation's Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Management has evaluated, with the participation of the Corporation's Chief Executive Officer and Chief Financial Officer, the effectiveness of the Corporation's disclosure controls and procedures as of the end of the period covered by this quarterly report (the "Evaluation Date"). Based on the evaluation, the Corporation's Chief Executive Officer and Chief Financial Officer have concluded that, as of the Evaluation Date, the Corporation's disclosure controls and procedures are effective. |
(b) | Changes in Internal Control Over Financial Reporting. During the period to which this report relates, there have not been any changes in the Corporation's internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that have materially affected, or that are reasonably likely to materially affect, such controls. |
Exhibit No. | Description | |
3.1 | ||
3.2 | ||
3.3 | ||
4 | [In accordance with Regulation S-K Item No. 601(b)(4)(iii), the Registrant is not filing copies of instruments defining the rights of holders of long-term debt because none of those instruments authorizes debt in excess of 10% of the total assets of the registrant and its subsidiaries on a consolidated basis. The Registrant hereby agrees to furnish a copy of any such instrument to the SEC upon request.] | |
31.1 | ||
31.2 | ||
32 | ||
101 | Financial statements from Quarterly Report on Form 10-Q of the Registrant for the quarter ended June 30, 2019, formatted in Inline XBRL: (i) the Consolidated Balance Sheets (unaudited), (ii) the Consolidated Statements of Comprehensive Income (unaudited), (iii) the Consolidated Statements of Changes in Shareholders' Equity (unaudited), (iv) the Consolidated Statements of Cash Flows (unaudited) and (v) the Notes to Consolidated Financial Statements (unaudited). | |
104 | The cover page from the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, formatted in Inline XBRL (included in Exhibit 101). | |
† | Management contract or compensatory plan or arrangement. |
COMERICA INCORPORATED | |
(Registrant) | |
/s/ Mauricio A. Ortiz | |
Mauricio A. Ortiz | |
Senior Vice President and | |
Chief Accounting Officer and | |
Duly Authorized Officer |
1. | I have reviewed this report on Form 10-Q for the quarterly period ended June 30, 2019 of Comerica Incorporated (the “Registrant”); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report; |
4. | The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the Registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter (the Registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and |
5. | The Registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. |
Date: | August 1, 2019 | /s/ Curtis C. Farmer |
Curtis C. Farmer | ||
President and Chief Executive Officer | ||
1. | I have reviewed this report on Form 10-Q for the quarterly period ended June 30, 2019 of Comerica Incorporated (the “Registrant”); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report; |
4. | The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the Registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter (the Registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and |
5. | The Registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. |
Date: | August 1, 2019 | /s/ Muneera S. Carr |
Muneera S. Carr | ||
Executive Vice President and Chief Financial Officer | ||
(1) | the Quarterly Report on Form 10-Q of the Company for the quarterly period ended June 30, 2019 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and |
(2) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
Dated: | August 1, 2019 | /s/ Curtis C. Farmer |
Curtis C. Farmer | ||
President and Chief Executive Officer | ||
/s/ Muneera S. Carr | ||
Muneera S. Carr | ||
Executive Vice President and Chief Financial Officer | ||
Consolidated Balance Sheets (Parenthetical) - $ / shares |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 5 | $ 5 |
Common stock, authorized shares | 325,000,000 | 325,000,000 |
Common stock, issued shares | 228,164,824 | 228,164,824 |
Shares in treasury | 78,367,534 | 68,081,176 |
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) shares in Millions, $ in Millions |
Total |
Common Stock |
Capital Surplus |
Accumulated Other Comprehensive Loss |
Retained Earnings |
Treasury Stock |
---|---|---|---|---|---|---|
Cumulative effect of change in accounting principle | $ 15 | $ 1 | $ 14 | |||
BALANCE (in shares) at Dec. 31, 2017 | 172.9 | |||||
BALANCE at Dec. 31, 2017 | 7,963 | $ 1,141 | $ 2,122 | (451) | 7,887 | $ (2,736) |
Net income | 607 | 607 | ||||
Other comprehensive income (loss), net of tax | (139) | (139) | ||||
Cash dividends declared on stock | (110) | (110) | ||||
Purchase of common stock | (328) | (328) | ||||
Purchase of common stock (in shares) | (3.4) | |||||
Net issuance of common stock under employee stock plans | 37 | (11) | (21) | 69 | ||
Net issuance of common stock under employee stock plans (in shares) | 1.3 | |||||
Net issuance of common stock for warrants | 0 | (1) | (3) | 4 | ||
Net issuance of common stock for warrants (in shares) | 0.1 | |||||
Share-based compensation | 34 | 34 | ||||
BALANCE at Jun. 30, 2018 | 8,079 | $ 1,141 | 2,144 | (589) | 8,374 | (2,991) |
BALANCE (in shares) at Jun. 30, 2018 | 170.9 | |||||
BALANCE (in shares) at Mar. 31, 2018 | 172.5 | |||||
BALANCE at Mar. 31, 2018 | 8,000 | $ 1,141 | 2,134 | (553) | 8,110 | (2,832) |
Net income | 326 | 326 | ||||
Other comprehensive income (loss), net of tax | (36) | (36) | ||||
Cash dividends declared on stock | (58) | (58) | ||||
Purchase of common stock | (169) | (169) | ||||
Purchase of common stock (in shares) | (1.7) | |||||
Net issuance of common stock under employee stock plans | 6 | (4) | 10 | |||
Net issuance of common stock under employee stock plans (in shares) | 0.1 | |||||
Net issuance of common stock for warrants | 0 | |||||
Share-based compensation | 10 | 10 | ||||
BALANCE at Jun. 30, 2018 | 8,079 | $ 1,141 | 2,144 | (589) | 8,374 | (2,991) |
BALANCE (in shares) at Jun. 30, 2018 | 170.9 | |||||
Cumulative effect of change in accounting principle | (14) | (14) | ||||
BALANCE (in shares) at Dec. 31, 2018 | 160.1 | |||||
BALANCE at Dec. 31, 2018 | 7,507 | $ 1,141 | 2,148 | (609) | 8,781 | (3,954) |
Net income | 637 | 637 | ||||
Other comprehensive income (loss), net of tax | 227 | 227 | ||||
Cash dividends declared on stock | (205) | (205) | ||||
Purchase of common stock | (859) | 0 | (859) | |||
Purchase of common stock (in shares) | (10.9) | |||||
Net issuance of common stock under employee stock plans | (2) | (12) | (23) | 33 | ||
Net issuance of common stock under employee stock plans (in shares) | 0.6 | |||||
Share-based compensation | 32 | 32 | ||||
BALANCE at Jun. 30, 2019 | 7,323 | $ 1,141 | 2,168 | (382) | 9,176 | (4,780) |
BALANCE (in shares) at Jun. 30, 2019 | 149.8 | |||||
BALANCE (in shares) at Mar. 31, 2019 | 155.4 | |||||
BALANCE at Mar. 31, 2019 | 7,409 | $ 1,141 | 2,159 | (513) | 8,979 | (4,357) |
Net income | 298 | 298 | ||||
Other comprehensive income (loss), net of tax | 131 | 131 | ||||
Cash dividends declared on stock | (100) | (100) | ||||
Purchase of common stock | (425) | (425) | ||||
Purchase of common stock (in shares) | (5.7) | |||||
Net issuance of common stock under employee stock plans | 2 | 1 | (1) | 2 | ||
Net issuance of common stock under employee stock plans (in shares) | 0.1 | |||||
Share-based compensation | 8 | 8 | ||||
BALANCE at Jun. 30, 2019 | $ 7,323 | $ 1,141 | $ 2,168 | $ (382) | $ 9,176 | $ (4,780) |
BALANCE (in shares) at Jun. 30, 2019 | 149.8 |
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends declared on stock, per share | $ 0.67 | $ 0.34 | $ 1.34 | $ 0.64 |
Consolidated Statements Of Cash Flows - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
|
OPERATING ACTIVITIES | ||
Net income | $ 637 | $ 607 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 31 | (17) |
(Benefit) provision for deferred income taxes | (4) | 14 |
Depreciation and amortization | 57 | 60 |
Net periodic defined benefit credit | (14) | (10) |
Share-based compensation expense | 32 | 34 |
Net amortization of securities | 1 | 2 |
Net securities (losses) gains | 8 | (1) |
Net gains on sales of foreclosed property | 0 | (1) |
Net change in accrued income receivable | (12) | (38) |
Net change in accrued expenses payable | (86) | (51) |
Other, net | (225) | 15 |
Net cash provided by operating activities | 425 | 614 |
INVESTING ACTIVITIES | ||
Maturities and redemptions of investment securities available-for-sale | 991 | 895 |
Sales of investment securities available-for-sale | 987 | 5 |
Purchases of investment securities available-for-sale | (2,043) | (891) |
Net change in loans | (1,685) | (651) |
Proceeds from sales of foreclosed property | 0 | 6 |
Net increase in premises and equipment | (29) | (41) |
Purchases of Federal Home Loan Bank stock | (49) | (41) |
Proceeds from bank-owned life insurance settlements | 7 | 3 |
Other, net | 0 | 1 |
Net cash used in investing activities | (1,821) | (716) |
FINANCING ACTIVITIES | ||
Net change in deposits | (209) | (737) |
Net change in short-term borrowings | 1,689 | 48 |
Maturities of medium- and long-term debt | (350) | 0 |
Issuances and advances of medium- and long-term debt | 350 | 1,000 |
Repurchases of common stock | (872) | (337) |
Cash dividends paid on common stock | (203) | (104) |
Issuances of common stock under employee stock plans | 11 | 46 |
Other, net | 0 | 1 |
Net cash provided by (used in) financing activities | 416 | (83) |
Net decrease in cash and cash equivalents | (980) | (185) |
Cash and cash equivalents at beginning of period | 4,561 | 5,845 |
Cash and cash equivalents at end of period | 3,581 | 5,660 |
Interest paid | 220 | 99 |
Income tax paid | 161 | 94 |
Noncash investing and financing activities: | ||
Loans transferred to other real estate | 2 | 2 |
Securities transferred from held-to-maturity to available-for-sale | 0 | 1,266 |
Securities transferred from available-for-sale to equity securities | $ 0 | $ 81 |
Basis of Presentation and Accounting Policies |
6 Months Ended |
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Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Accounting Policies | BASIS OF PRESENTATION AND ACCOUNTING POLICIES Organization The accompanying unaudited consolidated financial statements were prepared in accordance with United States (U.S.) generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation were included. The results of operations for the six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. Certain items in prior periods were reclassified to conform to the current presentation. For further information, refer to the consolidated financial statements and footnotes thereto included in the Annual Report of Comerica Incorporated and Subsidiaries (the Corporation) on Form 10-K for the year ended December 31, 2018. Leases Effective January 1, 2019, the Corporation adopted the provisions of Accounting Standards Update (ASU) No. 2016-02, “Leases (Topic 842),” (ASU 2016-02), for all open leases with a term greater than one year as of the adoption date, using the modified retrospective approach. Prior comparable periods are presented in accordance with previous guidance under Accounting Standards Codification (ASC) 840, “Leases.” Topic 842 requires the recognition of a lease liability, measured as the present value of unpaid lease payments for operating leases where the Corporation is the lessee, and a corresponding right-of-use (ROU) asset for the right to use the leased properties. The Corporation elected not to reassess whether contracts are or contain leases, lease classification or initial direct costs for existing leases, a set of practical expedients for transition provided by ASU 2016-12. Further, the Corporation elected the practical expedient to use hindsight in determining the lease term and assessing impairment. The election of the hindsight practical expedient resulted in longer lease terms for a limited number of strategic locations based on relevant factors as of the adoption date. The impact at adoption was increases of $329 million and $343 million to total assets and liabilities, respectively, and a $14 million reduction to retained earnings. The increase in total assets was due to the recognition of ROU assets recorded in accrued income and other assets, and the increase in total liabilities was due to corresponding recognition of lease payment liabilities recorded in accrued expenses and other liabilities. Operating lease liabilities reflect the Corporation’s obligation to make future lease payments, primarily for real estate locations. Lease terms typically comprise contractual terms but may include extension options reasonably certain of being exercised at lease inception for certain strategic locations such as regional headquarters. Payments are discounted using the rate the Corporation would pay to borrow amounts equal to the lease payments over the lease term (the Corporation’s incremental borrowing rate). The Corporation does not separate lease and non-lease components for contracts in which it is the lessee. ROU assets are measured based on lease liabilities adjusted for incentives as well as accrued and prepaid rent. Operating lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are recognized as incurred. Common area maintenance and other executory costs are the main components of variable lease payments. Operating and variable lease expenses are recorded in net occupancy expense in the Consolidated Statements of Income. The Corporation is the lessor in sales-type, direct finance and leveraged lease arrangements. Leases are recorded at the principal balance outstanding, net of unearned income and charge-offs. Interest income is recognized using the interest method. The impact of adopting Topic 842 for lessor accounting was not significant. Pending Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," (ASU 2016-13), which addresses concerns regarding the perceived delay in recognition of credit losses under the existing incurred loss model. The amendment introduces a new, single model for recognizing credit losses on all financial instruments presented on a cost basis. Under the new model, entities must estimate current expected credit losses by considering all available relevant information, including historical and current conditions, as well as reasonable and supportable forecasts of future events. The update also requires additional qualitative and quantitative disclosure to allow users to better understand the credit risk within the portfolio and the methodologies for determining the allowance for credit losses. ASU 2016-13 is effective for the Corporation on January 1, 2020 and must be applied using the modified retrospective approach with limited exceptions. The Corporation’s cross-functional implementation team, led by the Chief Financial Officer and Chief Credit Officer, continue to make progress in accordance with the detailed implementation plan for adoption. In prior periods, the Corporation developed and completed internal validations of new credit estimation models. The Corporation has implemented new processes and controls for the execution of the new model and is in the process of testing them. The implementation team continues to challenge current model assumptions and outputs, refine the qualitative framework and finalize policies and disclosures. Additionally, limited parallel runs, which began in the fourth quarter 2018, will be enhanced throughout 2019 as more end-to-end processes, controls and policies are finalized. Incorporating reasonable and supportable forecasts of economic conditions into the estimate of expected credit losses will require significant judgment, such as selecting economic variables and forecast scenarios as well as determining the appropriate length of the forecast horizon. Management will select economic variables it believes to be most relevant based on the composition of the loan portfolio and customer base, likely to include forecasted levels of employment, gross domestic product, corporate bond and treasury spreads, industrial production levels, consumer and commercial real estate price indices as well as housing statistics. Different economic forecasts ranging from more benign to more severe will be evaluated each reporting period to forecast losses over the contractual life of the loan portfolio. The Corporation anticipates using a two-year forecast horizon, which encompasses most of the remaining contractual life of its portfolio of commercial loans. The ultimate impact of ASU 2016-13 will depend on the composition of the portfolio as well as economic conditions and forecasts at the time of adoption. Based on current factors, the overall allowance for credit losses is not expected to materially change due to the portfolio’s relatively short average contractual life. The commercial portfolio, comprising the majority of the Corporation’s portfolio, consists of loans and lending arrangements with short contractual maturities that are expected to result in a slight reduction to the allowance for credit losses. The allowance for credit losses is expected to increase for the consumer portfolio given its longer contractual maturities. ASU 2016-13 will be adopted in first quarter 2020.
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Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS The Corporation utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The determination of fair values of financial instruments often requires the use of estimates. In cases where quoted market values in an active market are not available, the Corporation uses present value techniques and other valuation methods to estimate the fair values of its financial instruments. These valuation methods require considerable judgment and the resulting estimates of fair value can be significantly affected by the assumptions made and methods used. Equity securities, investment securities available-for-sale, derivatives and deferred compensation plan assets and liabilities are recorded at fair value on a recurring basis. Additionally, from time to time, the Corporation may be required to record other assets and liabilities at fair value on a nonrecurring basis, such as impaired loans, other real estate (primarily foreclosed property), nonmarketable equity securities and certain other assets and liabilities. These nonrecurring fair value adjustments typically involve write-downs of individual assets or application of lower of cost or fair value accounting. Refer to Note 1 to the consolidated financial statements in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2018 for further information about the fair value hierarchy, descriptions of the valuation methodologies and key inputs used to measure financial assets and liabilities recorded at fair value, as well as a description of the methods and significant assumptions used to estimate fair value disclosures for financial instruments not recorded at fair value in their entirety on a recurring basis. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following tables present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018.
There were no transfers of assets or liabilities recorded at fair value on a recurring basis into or out of Level 1, Level 2 and Level 3 fair value measurements during each of the three- and six-month periods ended June 30, 2019 and 2018. The following table summarizes the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three- and six-month periods ended June 30, 2019 and 2018.
Assets and Liabilities at Fair Value on a Nonrecurring Basis The Corporation may be required to record certain assets and liabilities at fair value on a nonrecurring basis. These include assets that are recorded at the lower of cost or fair value, and were recognized at fair value since it was less than cost at the end of the period. The following table presents assets recorded at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018. No liabilities were recorded at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018.
Level 3 assets recorded at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018 included loans for which a specific allowance was established based on the fair value of collateral. The unobservable inputs were the additional adjustments applied by management to the appraised values to reflect such factors as non-current appraisals and revisions to estimated time to sell. These adjustments are determined based on qualitative judgments made by management on a case-by-case basis and are not quantifiable inputs, although they are used in the determination of fair value. Estimated Fair Values of Financial Instruments Not Recorded at Fair Value on a Recurring Basis The Corporation typically holds the majority of its financial instruments until maturity and thus does not expect to realize many of the estimated fair value amounts disclosed. The disclosures also do not include estimated fair value amounts for items that are not defined as financial instruments, but which have significant value. These include such items as core deposit intangibles, the future earnings potential of significant customer relationships and the value of trust operations and other fee generating businesses. The Corporation believes the imprecision of an estimate could be significant. The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis on the Corporation’s Consolidated Balance Sheets are as follows:
(b) Certain investments that are measured at fair value using the net asset value have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets.
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Investment Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | INVESTMENT SECURITIES A summary of the Corporation’s investment securities follows:
A summary of the Corporation’s investment securities in an unrealized loss position as of June 30, 2019 and December 31, 2018 follows:
At June 30, 2019, the Corporation had 206 residential mortgage-backed securities securities in an unrealized loss position with no credit impairment. The unrealized losses for these securities resulted from changes in market interest rates and liquidity, not changes in credit quality. The Corporation ultimately expects full collection of the carrying amount of these securities, does not intend to sell the securities in an unrealized loss position, and it is not more-likely-than-not that the Corporation will be required to sell the securities in an unrealized loss position prior to recovery of amortized cost. The Corporation does not consider these securities to be other-than-temporarily impaired at June 30, 2019. Sales, calls and write-downs of investment securities available-for-sale resulted in the following gains and losses recorded in net securities (losses) gains on the Consolidated Statements of Comprehensive Income, computed based on the adjusted cost of the specific security. There were no significant gains or losses of investment securities available-for-sale during both the three months ended June 30, 2019 and 2018.
The following table summarizes the amortized cost and fair values of debt securities by contractual maturity. Securities with multiple maturity dates are classified in the period of final maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Included in the contractual maturity distribution in the table above were residential mortgage-backed securities with total amortized cost and fair value of $9.5 billion. The actual cash flows of mortgage-backed securities may differ from contractual maturity as the borrowers of the underlying loans may exercise prepayment options. At June 30, 2019, investment securities with a carrying value of $311 million were pledged where permitted or required by law to secure $259 million of liabilities, primarily public and other deposits of state and local government agencies as well as derivative instruments.
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Credit Quality And Allowance For Credit Losses |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Credit Quality And Allowance For Credit Losses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Quality And Allowance For Credit Losses | CREDIT QUALITY AND ALLOWANCE FOR CREDIT LOSSES The following table presents an aging analysis of the recorded balance of loans.
The following table presents loans by credit quality indicator, based on internal risk ratings assigned to each business loan at the time of approval and subjected to subsequent reviews, generally at least annually, and to pools of retail loans with similar risk characteristics.
The following table summarizes nonperforming assets.
There were no retail loans secured by residential real estate properties in process of foreclosure included in nonaccrual loans at June 30, 2019, compared to $1 million at December 31, 2018. Allowance for Credit Losses The following table details the changes in the allowance for loan losses and related loan amounts.
Changes in the allowance for credit losses on lending-related commitments, included in accrued expenses and other liabilities on the Consolidated Balance Sheets, are summarized in the following table.
Individually Evaluated Impaired Loans The following table presents additional information regarding individually evaluated impaired loans.
The following table presents information regarding average individually evaluated impaired loans and the related interest recognized as of June 30, 2019 and 2018. Interest income recognized for the period primarily related to performing restructured loans.
Troubled Debt Restructurings The following table details the recorded balance at June 30, 2019 and 2018 of loans considered to be troubled debt restructurings (TDRs) that were restructured during the three- and six-month periods ended June 30, 2019 and 2018, by type of modification. In cases of loans with more than one type of modification, the loans were categorized based on the most significant modification.
The Corporation charges interest on principal balances outstanding during deferral periods. Additionally, none of the modifications involved forgiveness of principal. As a result, the current and future financial effects of the recorded balance of loans considered to be TDRs that were restructured during the six months ended June 30, 2019 and 2018 were insignificant. At June 30, 2019 and December 31, 2018, commitments to lend additional funds to borrowers whose terms have been modified in TDRs totaled $6 million and $20 million, respectively. On an ongoing basis, the Corporation monitors the performance of modified loans to their restructured terms. The allowance for loan losses continues to be reassessed on the basis of an individual evaluation of the loan. The following table presents information regarding the recorded balance at June 30, 2019 and 2018 of loans modified by principal deferral during the twelve-month periods ended June 30, 2019 and 2018.
During the twelve-month periods ended June 30, 2019 and 2018, loans with a carrying value of $3 million and $2 million, respectively, were modified by interest rate reduction (reduced-rate loans). There were no loans restructured into two notes (AB note restructures) during either of the twelve-month periods ended June 30, 2019 and 2018. For principal deferrals, incremental deterioration in the credit quality of the loan, represented by a downgrade in the risk rating of the loan, for example, due to missed interest payments or a reduction of collateral value, is considered a subsequent default. For interest rate reductions and AB note restructures, a subsequent payment default is defined in terms of delinquency, when a principal or interest payment is 90 days past due. There were no subsequent defaults of principal deferrals, interest rate reductions or AB note restructures during both the three- and six-month periods ended June 30, 2019 and 2018.
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Derivative And Credit-Related Financial Instruments |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative And Credit-Related Financial Instruments | DERIVATIVE AND CREDIT-RELATED FINANCIAL INSTRUMENTS In the normal course of business, the Corporation enters into various transactions involving derivative and credit-related financial instruments to manage exposure to fluctuations in interest rate, foreign currency and other market risks and to meet the financing needs of customers (customer-initiated derivatives). These financial instruments involve, to varying degrees, elements of market and credit risk. Market and credit risk are included in the determination of fair value. Market risk is the potential loss that may result from movements in interest rates, foreign currency exchange rates or energy commodity prices that cause an unfavorable change in the value of a financial instrument. The Corporation manages this risk by establishing monetary exposure limits and monitoring compliance with those limits. Market risk inherent in interest rate and energy contracts entered into on behalf of customers is mitigated by taking offsetting positions, except in those circumstances when the amount, tenor and/or contract rate level results in negligible economic risk, whereby the cost of purchasing an offsetting contract is not economically justifiable. The Corporation mitigates most of the inherent market risk in foreign exchange contracts entered into on behalf of customers by taking offsetting positions and manages the remainder through individual foreign currency position limits and aggregate value-at-risk limits. These limits are established annually and positions are monitored quarterly. Market risk inherent in derivative instruments held or issued for risk management purposes is typically offset by changes in the fair value of the assets or liabilities being hedged. Credit risk is the possible loss that may occur in the event of nonperformance by the counterparty to a financial instrument. The Corporation attempts to minimize credit risk arising from customer-initiated derivatives by evaluating the creditworthiness of each customer, adhering to the same credit approval process used for traditional lending activities and obtaining collateral as deemed necessary. Derivatives with dealer counterparties are either cleared through a clearinghouse or settled directly with a single counterparty. For derivatives settled directly with dealer counterparties, the Corporation utilizes counterparty risk limits and monitoring procedures as well as master netting arrangements and bilateral collateral agreements to facilitate the management of credit risk. Master netting arrangements effectively reduce credit risk by permitting settlement of positive and negative positions and offset cash collateral held with the same counterparty on a net basis. Bilateral collateral agreements require daily exchange of cash or highly rated securities issued by the U.S. Treasury or other U.S. government entities to collateralize amounts due to either party. At June 30, 2019, counterparties with bilateral collateral agreements pledged $1 million of marketable investment securities and deposited $51 million of cash with the Corporation to secure the fair value of contracts in an unrealized gain position, and the Corporation had pledged $21 million of marketable investment securities and posted $10 million of cash as collateral for contracts in an unrealized loss position. For those counterparties not covered under bilateral collateral agreements, collateral is obtained, if deemed necessary, based on the results of management’s credit evaluation of the counterparty. Collateral varies, but may include cash, investment securities, accounts receivable, equipment or real estate. Included in the fair value of derivative instruments are credit valuation adjustments reflecting counterparty credit risk. These adjustments are determined by applying a credit spread for the counterparty or the Corporation, as appropriate, to the total expected exposure of the derivative. There were no derivative instruments with credit-risk-related contingent features that were in a liability position at June 30, 2019. Derivative Instruments Derivative instruments utilized by the Corporation are negotiated over-the-counter and primarily include swaps, caps and floors, forward contracts and options, each of which may relate to interest rates, energy commodity prices or foreign currency exchange rates. Swaps are agreements in which two parties periodically exchange cash payments based on specified indices applied to a specified notional amount until a stated maturity. Caps and floors are agreements which entitle the buyer to receive cash payments based on the difference between a specified reference rate or price and an agreed strike rate or price, applied to a specified notional amount until a stated maturity. Forward contracts are over-the-counter agreements to buy or sell an asset at a specified future date and price. Options are similar to forward contracts except the purchaser has the right, but not the obligation, to buy or sell the asset during a specified period or at a specified future date. Over-the-counter contracts are tailored to meet the needs of the counterparties involved and, therefore, contain a greater degree of credit risk and liquidity risk than exchange-traded contracts, which have standardized terms and readily available price information. The Corporation reduces exposure to market and liquidity risks from over-the-counter derivative instruments entered into for risk management purposes, and transactions entered into to mitigate the market risk associated with customer-initiated transactions, by taking offsetting positions with investment grade domestic and foreign financial institutions and subjecting counterparties to credit approvals, limits and collateral monitoring procedures similar to those used in making other extensions of credit. In addition, certain derivative contracts executed bilaterally with a dealer counterparty in the over-the-counter market are cleared through a clearinghouse, whereby the clearinghouse becomes the counterparty to the transaction. The following table presents the composition of the Corporation’s derivative instruments held or issued for risk management purposes or in connection with customer-initiated and other activities at June 30, 2019 and December 31, 2018. The table excludes commitments and warrants accounted for as derivatives.
Risk Management The Corporation's derivative instruments used for managing interest rate risk currently comprise swaps converting fixed-rate long-term debt to variable rates and variable-rate loans to fixed rates. The following table details the effects of fair value hedging on the Consolidated Statements of Comprehensive Income.
For the impact of cash flow hedging, refer to Note 8. The following table summarizes the expected weighted average remaining maturity of the notional amount of risk management interest rate swaps, the carrying amount of the related hedged items and the weighted average interest rates associated with amounts expected to be received or paid on interest rate swap agreements as of June 30, 2019 and December 31, 2018.
Foreign exchange rate risk arises from changes in the value of certain assets and liabilities denominated in foreign currencies. The Corporation employs spot and forward contracts in addition to swap contracts to manage exposure to these and other risks. These instruments are used as economic hedges and net gains or losses are included in other noninterest income in the Consolidated Statements of Comprehensive Income. Customer-Initiated and Other The Corporation enters into derivative transactions at the request of customers and generally takes offsetting positions with dealer counterparties to mitigate the inherent market risk. Income primarily results from the spread between the customer derivative and the offsetting dealer position. For customer-initiated foreign exchange contracts where offsetting positions have not been taken, the Corporation manages the remaining inherent market risk through individual foreign currency position limits and aggregate value-at-risk limits. These limits are established annually and reviewed quarterly. For those customer-initiated derivative contracts which were not offset or where the Corporation holds a position within the limits described above, the Corporation recognized no net gains or losses in other noninterest income in the Consolidated Statements of Comprehensive Income for both the three- and six-month periods ended June 30, 2019 and 2018. Fair values of customer-initiated and other derivative instruments represent the net unrealized gains or losses on such contracts and are recorded in the Consolidated Balance Sheets. Changes in fair value are recognized in the Consolidated Statements of Comprehensive Income. The net gains recognized in income on customer-initiated derivative instruments, net of the impact of offsetting positions, were as follows.
Credit-Related Financial Instruments The Corporation issues off-balance sheet financial instruments in connection with commercial and consumer lending activities. The Corporation’s credit risk associated with these instruments is represented by the contractual amounts indicated in the following table.
The Corporation maintains an allowance to cover probable credit losses inherent in lending-related commitments, including unused commitments to extend credit, letters of credit and financial guarantees. The allowance for credit losses on lending-related commitments, included in accrued expenses and other liabilities on the Consolidated Balance Sheets, was $31 million and $30 million at June 30, 2019 and December 31, 2018, respectively. Unused Commitments to Extend Credit Commitments to extend credit are legally binding agreements to lend to a customer, provided there is no violation of any condition established in the contract. These commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments expire without being drawn upon, the total contractual amount of commitments does not necessarily represent future cash requirements of the Corporation. Commercial and other unused commitments are primarily variable rate commitments. The allowance for credit losses on lending-related commitments included $24 million at both June 30, 2019 and December 31, 2018 for probable credit losses inherent in the Corporation’s unused commitments to extend credit. Standby and Commercial Letters of Credit Standby letters of credit represent conditional obligations of the Corporation which guarantee the performance of a customer to a third party. Standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. Commercial letters of credit are issued to finance foreign or domestic trade transactions. These contracts expire in decreasing amounts through the year 2028. The Corporation may enter into participation arrangements with third parties that effectively reduce the maximum amount of future payments which may be required under standby and commercial letters of credit. These risk participations covered $145 million and $136 million, respectively, of the $3.3 billion standby and commercial letters of credit outstanding at June 30, 2019 and December 31, 2018. The carrying value of the Corporation’s standby and commercial letters of credit, included in accrued expenses and other liabilities on the Consolidated Balance Sheets, totaled $32 million at June 30, 2019, including $25 million in deferred fees and $7 million in the allowance for credit losses on lending-related commitments. At December 31, 2018, the comparable amounts were $34 million, $28 million and $6 million, respectively. The following table presents a summary of criticized standby and commercial letters of credit at June 30, 2019 and December 31, 2018. The Corporation's criticized list is generally consistent with the Special Mention, Substandard and Doubtful categories defined by regulatory authorities. The Corporation manages credit risk through underwriting, periodically reviewing and approving its credit exposures using Board committee approved credit policies and guidelines.
Other Credit-Related Financial Instruments The Corporation enters into credit risk participation agreements, under which the Corporation assumes credit exposure associated with a borrower’s performance related to certain interest rate derivative contracts. The Corporation is not a party to the interest rate derivative contracts and only enters into these credit risk participation agreements in instances in which the Corporation is also a party to the related loan participation agreement for such borrowers. The Corporation manages its credit risk on the credit risk participation agreements by monitoring the creditworthiness of the borrowers, which is based on the normal credit review process had it entered into the derivative instruments directly with the borrower. The notional amount of such credit risk participation agreement reflects the pro-rata share of the derivative instrument, consistent with its share of the related participated loan. As of June 30, 2019 and December 31, 2018, the total notional amount of the credit risk participation agreements was approximately $720 million and $703 million, respectively, and the fair value was insignificant for both periods. The maximum estimated exposure to these agreements, as measured by projecting a maximum value of the guaranteed derivative instruments, assuming 100 percent default by all obligors on the maximum values, was $21 million and $7 million at June 30, 2019 and December 31, 2018, respectively. In the event of default, the lead bank has the ability to liquidate the assets of the borrower, in which case the lead bank would be required to return a percentage of the recouped assets to the participating banks. As of June 30, 2019, the weighted average remaining maturity of outstanding credit risk participation agreements was 3.4 years.
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Variable Interest Entities (VIEs) |
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Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entities (VIEs) | VARIABLE INTEREST ENTITIES (VIEs) The Corporation evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Corporation is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. The Corporation holds ownership interests in funds in the form of limited partnerships or limited liability companies (LLCs) investing in affordable housing projects that qualify for the low-income housing tax credit (LIHTC). The Corporation also directly invests in limited partnerships and LLCs that invest in community development projects, which generate similar tax credits to investors (other tax credit entities). As an investor, the Corporation obtains income tax credits and deductions from the operating losses of these tax credit entities. These tax credit entities meet the definition of a VIE; however, the Corporation is not the primary beneficiary of the entities, as the general partner or the managing member has both the power to direct the activities that most significantly impact the economic performance of the entities and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. The Corporation accounts for its interests in LIHTC entities using the proportional amortization method. Ownership interests in other tax credit entities are accounted for under either the cost or equity method. Exposure to loss as a result of the Corporation's involvement in LIHTC entities and other tax credit entities at June 30, 2019 was limited to $437 million and $6 million, respectively. Investment balances, including all legally binding commitments to fund future investments, are included in accrued income and other assets on the Consolidated Balance Sheets. A liability is recognized in accrued expenses and other liabilities on the Consolidated Balance Sheets for all legally binding unfunded commitments to fund tax credit entities ($166 million at June 30, 2019). Amortization and other write-downs of LIHTC investments are presented on a net basis as a component of the provision for income taxes on the Consolidated Statements of Comprehensive Income, while amortization and write-downs of other tax credit investments are recorded in other noninterest income. The income tax credits and deductions are recorded as a reduction of income tax expense and a reduction of federal income taxes payable. The Corporation provided no financial or other support that was not contractually required to any of the above VIEs during the six months ended June 30, 2019 and 2018. The following table summarizes the impact of these tax credit entities on line items on the Corporation’s Consolidated Statements of Comprehensive Income.
For further information on the Corporation’s consolidation policy, see Note 1 to the consolidated financial statements in the Corporation's 2018 Annual Report.
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Medium- And Long-Term Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medium- And Long-Term Debt | MEDIUM- AND LONG-TERM DEBT Medium- and long-term debt is summarized as follows:
Subordinated notes with remaining maturities greater than one year qualify as Tier 2 capital. Comerica Bank (the Bank), a wholly-owned subsidiary of the Corporation, is a member of the FHLB, which provides short- and long-term funding to its members through advances collateralized by real estate-related assets. The interest rate on the FHLB advances resets between four and eight weeks, based on the FHLB auction rate. At June 30, 2019, the weighted-average rate on the FHLB advances was 2.46%. Each note may be prepaid in full, without penalty, at each scheduled reset date. Borrowing capacity is contingent on the amount of collateral available to be pledged to the FHLB. At June 30, 2019, $17.0 billion of real estate-related loans were pledged to the FHLB as collateral for current and potential future borrowings of approximately $4.1 billion. In the first quarter 2019, the Corporation issued $350 million of 4.00% senior notes maturing in 2029, swapped to a floating rate at 30-day LIBOR plus 129 basis points. Unamortized debt issuance costs deducted from the carrying amount of medium- and long-term debt totaled $9 million at June 30, 2019 and $8 million at December 31, 2018.
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Accumulated Other Comprehensive Loss |
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Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE LOSS The following table presents a reconciliation of the changes in the components of accumulated other comprehensive loss and details the components of other comprehensive income (loss) for the six months ended June 30, 2019 and 2018, including the amount of income tax expense (benefit) allocated to each component of other comprehensive income (loss).
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Net Income Per Share |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Per Share | NET INCOME PER SHARE Basic and diluted net income per share are presented in the following table.
The following average shares related to outstanding options to purchase shares of stock were not included in the computation of diluted net income per share because the options were anti-dilutive for the period.
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Employee Benefit Plans |
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Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Net periodic defined benefit cost (credit) comprise service cost and other components of net benefit cost (credit). Service costs are included in salaries and benefits expense and other components of net benefit cost (credit) are included in other noninterest expenses on the Consolidated Statements of Comprehensive Income. For further information on the Corporation's employee benefit plans, refer to Note 17 to the consolidated financial statements in the Corporation's 2018 Annual Report. The components of net periodic benefit cost (credit) for the Corporation's qualified pension plan, non-qualified pension plan and postretirement benefit plan are as follows.
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Income Taxes And Tax-Related Items |
6 Months Ended |
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Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes and Tax-Related Items | INCOME TAXES AND TAX-RELATED ITEMS At June 30, 2019, net unrecognized tax benefits were $15 million, compared to $14 million at December 31, 2018. The Corporation anticipates it is reasonably possible settlements with tax authorities will result in a $1 million decrease in net unrecognized tax benefits within the next twelve months. The liability for tax-related interest and penalties included in accrued expenses and other liabilities was $7 million at both June 30, 2019 and December 31, 2018. Net deferred tax assets were $104 million at June 30, 2019, compared to $166 million at December 31, 2018. The $62 million decrease in net deferred tax assets resulted from a decrease in deferred tax assets, due to a decrease in unrealized losses on investment securities, and an increase in deferred tax liabilities arising from cash flow hedges used to manage interest rate risk. Included in deferred tax assets at both June 30, 2019 and December 31, 2018 were $4 million of state net operating loss carryforwards, which expire between 2019 and 2028. The Corporation believes it is more likely than not the benefit from certain of these state net operating loss carryforwards will not be realized and, accordingly, maintained a valuation allowance of $3 million at both June 30, 2019 and December 31, 2018. In the ordinary course of business, the Corporation enters into certain transactions that have tax consequences. From time to time, the Internal Revenue Service (IRS) or other tax jurisdictions may review and/or challenge specific interpretive tax positions taken by the Corporation with respect to those transactions. The Corporation believes its tax returns were filed based upon applicable statutes, regulations and case law in effect at the time of the transactions. The IRS or other tax jurisdictions, an administrative authority or a court, if presented with the transactions, could disagree with the Corporation’s interpretation of the tax law. Based on current knowledge and probability assessment of various potential outcomes, the Corporation believes current tax reserves are adequate, and the amount of any potential incremental liability arising is not expected to have a material adverse effect on the Corporation’s consolidated financial condition or results of operations. Probabilities and outcomes are reviewed as events unfold, and adjustments to the reserves are made when necessary.
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Contingent Liabilities |
6 Months Ended |
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Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingent Liabilities | CONTINGENT LIABILITIES Legal Proceedings As previously reported in the Corporation's Form 10-K for the year ended December 31, 2018 and Form 10-Q for the period ended March 31, 2019, the Bank was named in November 2011 as a third-party defendant in Butte Local Development v. Masters Group v. Comerica Bank (the case), for lender liability. The case was tried in January 2014, in the Montana Second District Judicial Court for Silver Bow County in Butte, Montana. On January 17, 2014, a jury awarded Masters $52 million against the Bank. On July 1, 2015, after an appeal filed by the Corporation, the Montana Supreme Court reversed the judgment against the Corporation and remanded the case for a new trial with instructions that Michigan contract law should apply and dismissing all other claims. The case was retried in the same district court, without a jury, in January 2017, and the Corporation awaits a ruling. Management believes current reserves related to this case are adequate in the event of a negative outcome. The Corporation and certain of its subsidiaries are subject to various other pending or threatened legal proceedings arising out of the normal course of business or operations. The Corporation believes it has meritorious defenses to the claims asserted against it in its other currently outstanding legal proceedings and, with respect to such legal proceedings, intends to continue to defend itself vigorously, litigating or settling cases according to management’s judgment as to what is in the best interests of the Corporation and its shareholders. Settlement may result from the Corporation's determination that it may be more prudent financially to settle, rather than litigate, and should not be regarded as an admission of liability. On at least a quarterly basis, the Corporation assesses its potential liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. On a case-by-case basis, reserves are established for those legal claims for which it is probable that a loss will be incurred either as a result of a settlement or judgment, and the amount of such loss can be reasonably estimated. The actual costs of resolving these claims may be substantially higher or lower than the amounts reserved. Based on current knowledge, and after consultation with legal counsel, management believes current reserves are adequate, and the amount of any incremental liability arising from these matters is not expected to have a material adverse effect on the Corporation’s consolidated financial condition, results of operations or cash flows. Legal fees of $4 million were included in other noninterest expenses for both the three-month periods ended June 30, 2019 and 2018, and $5 million and $7 million for the six-month periods ended June 30, 2019 and 2018, respectively. For matters where a loss is not probable, the Corporation has not established legal reserves. The Corporation believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for all legal proceedings in which it is involved is from zero to approximately $35 million at June 30, 2019. This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Corporation is involved, taking into account the Corporation’s best estimate of such losses for those cases for which such estimate can be made. For certain cases, the Corporation does not believe an estimate can currently be made. The Corporation’s estimate involves significant judgment, given the varying stages of the proceedings (including the fact many are currently in preliminary stages), the existence in certain proceedings of multiple defendants (including the Corporation) whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims) and the attendant uncertainty of the various potential outcomes of such proceedings. Accordingly, the Corporation’s estimate will change from time to time, and actual losses may be more or less than the current estimate. In the event of unexpected future developments, it is possible the ultimate resolution of these matters, if unfavorable, may be material to the Corporation's consolidated financial condition, results of operations or cash flows. For information regarding income tax contingencies, refer to Note 11.
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Business Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segment Information | BUSINESS SEGMENT INFORMATION The Corporation has strategically aligned its operations into three major business segments: the Business Bank, the Retail Bank and Wealth Management. These business segments are differentiated based on the type of customer and the related products and services provided. In addition to the three major business segments, the Finance Division is also reported as a segment. Business segment results are produced by the Corporation’s internal management accounting system. This system measures financial results based on the internal business unit structure of the Corporation. The performance of the business segments is not comparable with the Corporation's consolidated results and is not necessarily comparable with similar information for any other financial institution. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. The management accounting system assigns balance sheet and income statement items to each business segment using certain methodologies, which are regularly reviewed and refined. From time to time, the Corporation may make reclassifications among the segments to more appropriately reflect management's current view of the segments, and methodologies may be modified as the management accounting system is enhanced and changes occur in the organizational structure and/or product lines. For comparability purposes, amounts in all periods are based on business unit structure and methodologies in effect at June 30, 2019. The following discussion provides information about the activities of each business segment. A discussion of the financial results and the factors impacting performance can be found in the section entitled "Business Segments" in the financial review. The Business Bank meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering various products and services including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services. The Retail Bank includes a full range of personal financial services, consisting of consumer lending, consumer deposit gathering and mortgage loan origination. This business segment offers a variety of consumer products including deposit accounts, installment loans, credit cards, student loans, home equity lines of credit and residential mortgage loans. Wealth Management offers products and services consisting of fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. This business segment also offers the sale of annuity products, as well as life, disability and long-term care insurance products. The Finance segment includes the Corporation’s securities portfolio and asset and liability management activities. This segment is responsible for managing the Corporation’s funding, liquidity and capital needs, performing interest sensitivity analysis and executing various strategies to manage the Corporation’s exposure to liquidity, interest rate risk and foreign exchange risk. The Other category includes the income and expense impact of equity and cash, tax benefits not assigned to specific business segments, charges of an unusual or infrequent nature that are not reflective of the normal operations of the business segments and miscellaneous other expenses of a corporate nature. For further information on the methodologies which form the basis for these results refer to Note 23 to the consolidated financial statements in the Corporation's 2018 Annual Report. Business segment financial results are as follows:
n/m – not meaningful
n/m – not meaningful The Corporation operates in three primary markets - Texas, California, and Michigan as well as in Arizona and Florida, with select businesses operating in several other states and in Canada and Mexico. The Corporation produces market segment results for the Corporation’s three primary geographic markets as well as Other Markets. Other Markets includes Florida, Arizona, the International Finance division and businesses with a national perspective. The Finance & Other category includes the Finance segment and the Other category as previously described. Market segment results are provided as supplemental information to the business segment results and may not meet all operating segment criteria as set forth in GAAP. For comparability purposes, amounts in all periods are based on market segments and methodologies in effect at June 30, 2019. A discussion of the financial results and the factors impacting performance can be found in the section entitled "Market Segments" in the financial review. Market segment financial results are as follows:
n/m – not meaningful
n/m – not meaningful
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Revenue from Contracts with Customers |
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Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue from contracts with customers comprises the noninterest income earned by the Corporation in exchange for services provided to customers. The following table presents the composition of revenue from contracts with customers, segregated from other sources of noninterest income, by business segment.
Adjustments to revenue during the three- and six-month periods ended June 30, 2019 and 2018 for refunds or credits relating to prior periods were not significant. Revenue from contracts with customers did not generate significant contract assets and liabilities.
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Leases |
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Leases (Narrative) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | LEASES As a lessee, the Corporation has entered into operating leases for the majority of its real estate locations, primarily retail and office space. Total lease expenses were $19 million, including $16 million of operating lease expense and $3 million of variable lease expense, for the three months ended June 30, 2019 and were $38 million, including $31 million of operating lease expense and $7 million of variable lease expense, for the six months ended June 30, 2019. At June 30, 2019, the Corporation's ROU assets and operating lease liabilities were $329 million and $366 million, respectively. The weighted average lease term for the lease liabilities was 9 years, and the weighted average discount rate of remaining payments was 3.88 percent. Lease liabilities from new ROU assets obtained during the six months ended June 30, 2019 totaled $26 million. Cash paid on operating lease liabilities was $17 million and $33 million for the three and six months ended June 30, 2019, respectively. As of June 30, 2019, the contractual maturities of operating lease liabilities were as follows:
As a lessor, the Corporation leases certain types of manufacturing and warehouse equipment as well as public and private transportation vehicles to its customers. The Corporation recognized lease-related revenue, primarily interest income from sales-type and direct financing leases of $3 million and $6 million for the three and six months ended June 30, 2019, respectively. At June 30, 2019, the Corporation's net investment in sales-type and direct financing leases was $360 million. As of June 30, 2019, the contractual maturities of sales-type and direct financing lease receivables were as follows:
(b) Excludes net investment in leveraged leases of $215 million.
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Basis of Presentation and Accounting Policies Basis of Presentation and Accounting Policies (Policies) |
6 Months Ended |
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Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Leases | Leases Effective January 1, 2019, the Corporation adopted the provisions of Accounting Standards Update (ASU) No. 2016-02, “Leases (Topic 842),” (ASU 2016-02), for all open leases with a term greater than one year as of the adoption date, using the modified retrospective approach. Prior comparable periods are presented in accordance with previous guidance under Accounting Standards Codification (ASC) 840, “Leases.” Topic 842 requires the recognition of a lease liability, measured as the present value of unpaid lease payments for operating leases where the Corporation is the lessee, and a corresponding right-of-use (ROU) asset for the right to use the leased properties. The Corporation elected not to reassess whether contracts are or contain leases, lease classification or initial direct costs for existing leases, a set of practical expedients for transition provided by ASU 2016-12. Further, the Corporation elected the practical expedient to use hindsight in determining the lease term and assessing impairment. The election of the hindsight practical expedient resulted in longer lease terms for a limited number of strategic locations based on relevant factors as of the adoption date. The impact at adoption was increases of $329 million and $343 million to total assets and liabilities, respectively, and a $14 million reduction to retained earnings. The increase in total assets was due to the recognition of ROU assets recorded in accrued income and other assets, and the increase in total liabilities was due to corresponding recognition of lease payment liabilities recorded in accrued expenses and other liabilities. Operating lease liabilities reflect the Corporation’s obligation to make future lease payments, primarily for real estate locations. Lease terms typically comprise contractual terms but may include extension options reasonably certain of being exercised at lease inception for certain strategic locations such as regional headquarters. Payments are discounted using the rate the Corporation would pay to borrow amounts equal to the lease payments over the lease term (the Corporation’s incremental borrowing rate). The Corporation does not separate lease and non-lease components for contracts in which it is the lessee. ROU assets are measured based on lease liabilities adjusted for incentives as well as accrued and prepaid rent. Operating lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are recognized as incurred. Common area maintenance and other executory costs are the main components of variable lease payments. Operating and variable lease expenses are recorded in net occupancy expense in the Consolidated Statements of Income. The Corporation is the lessor in sales-type, direct finance and leveraged lease arrangements. Leases are recorded at the principal balance outstanding, net of unearned income and charge-offs. Interest income is recognized using the interest method. The impact of adopting Topic 842 for lessor accounting was not significant.
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Pending Accounting Pronouncements | Pending Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," (ASU 2016-13), which addresses concerns regarding the perceived delay in recognition of credit losses under the existing incurred loss model. The amendment introduces a new, single model for recognizing credit losses on all financial instruments presented on a cost basis. Under the new model, entities must estimate current expected credit losses by considering all available relevant information, including historical and current conditions, as well as reasonable and supportable forecasts of future events. The update also requires additional qualitative and quantitative disclosure to allow users to better understand the credit risk within the portfolio and the methodologies for determining the allowance for credit losses. ASU 2016-13 is effective for the Corporation on January 1, 2020 and must be applied using the modified retrospective approach with limited exceptions. The Corporation’s cross-functional implementation team, led by the Chief Financial Officer and Chief Credit Officer, continue to make progress in accordance with the detailed implementation plan for adoption. In prior periods, the Corporation developed and completed internal validations of new credit estimation models. The Corporation has implemented new processes and controls for the execution of the new model and is in the process of testing them. The implementation team continues to challenge current model assumptions and outputs, refine the qualitative framework and finalize policies and disclosures. Additionally, limited parallel runs, which began in the fourth quarter 2018, will be enhanced throughout 2019 as more end-to-end processes, controls and policies are finalized. Incorporating reasonable and supportable forecasts of economic conditions into the estimate of expected credit losses will require significant judgment, such as selecting economic variables and forecast scenarios as well as determining the appropriate length of the forecast horizon. Management will select economic variables it believes to be most relevant based on the composition of the loan portfolio and customer base, likely to include forecasted levels of employment, gross domestic product, corporate bond and treasury spreads, industrial production levels, consumer and commercial real estate price indices as well as housing statistics. Different economic forecasts ranging from more benign to more severe will be evaluated each reporting period to forecast losses over the contractual life of the loan portfolio. The Corporation anticipates using a two-year forecast horizon, which encompasses most of the remaining contractual life of its portfolio of commercial loans. The ultimate impact of ASU 2016-13 will depend on the composition of the portfolio as well as economic conditions and forecasts at the time of adoption. Based on current factors, the overall allowance for credit losses is not expected to materially change due to the portfolio’s relatively short average contractual life. The commercial portfolio, comprising the majority of the Corporation’s portfolio, consists of loans and lending arrangements with short contractual maturities that are expected to result in a slight reduction to the allowance for credit losses. The allowance for credit losses is expected to increase for the consumer portfolio given its longer contractual maturities. ASU 2016-13 will be adopted in first quarter 2020.
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Fair Value Measurements (Tables) |
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Assets And Liabilities Recorded At Fair Value On A Recurring Basis | The following tables present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018.
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Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table summarizes the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three- and six-month periods ended June 30, 2019 and 2018.
(c) Auction-rate securities.
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Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis | The following table presents assets recorded at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018. No liabilities were recorded at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018.
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Estimated Fair Values Of Financial Instruments Not Recorded At Fair Value In Their Entirety On A Recurring Basis | The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis on the Corporation’s Consolidated Balance Sheets are as follows:
(b) Certain investments that are measured at fair value using the net asset value have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets.
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Investment Securities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Investment Securities | A summary of the Corporation’s investment securities follows:
(a) Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises.
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Summary Of Investment Securities In Unrealized Loss Positions | A summary of the Corporation’s investment securities in an unrealized loss position as of June 30, 2019 and December 31, 2018 follows:
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Summary of Net Securities Gains (Losses) | Sales, calls and write-downs of investment securities available-for-sale resulted in the following gains and losses recorded in net securities (losses) gains on the Consolidated Statements of Comprehensive Income, computed based on the adjusted cost of the specific security. There were no significant gains or losses of investment securities available-for-sale during both the three months ended June 30, 2019 and 2018.
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Contractual Maturity Distribution Of Debt Securities | The following table summarizes the amortized cost and fair values of debt securities by contractual maturity. Securities with multiple maturity dates are classified in the period of final maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
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Credit Quality And Allowance For Credit Losses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Credit Quality And Allowance For Credit Losses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aging Analysis Of Loans | The following table presents an aging analysis of the recorded balance of loans.
(b) Primarily loans secured by owner-occupied real estate.
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Loans By Credit Quality Indicator | The following table presents loans by credit quality indicator, based on internal risk ratings assigned to each business loan at the time of approval and subjected to subsequent reviews, generally at least annually, and to pools of retail loans with similar risk characteristics.
(f) Primarily loans secured by owner-occupied real estate.
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Schedule Of Nonaccrual, Reduced-Rate Loans And Foreclosed Property | The following table summarizes nonperforming assets.
(b) Included $3 million of foreclosed residential real estate properties at June 30, 2019, compared to none at December 31, 2018.
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Changes In The Allowance For Loan Losses And Related Loan Amounts | The following table details the changes in the allowance for loan losses and related loan amounts.
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Changes In the Allowance For Credit Losses On Lending-Related Commitments | Changes in the allowance for credit losses on lending-related commitments, included in accrued expenses and other liabilities on the Consolidated Balance Sheets, are summarized in the following table.
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Individually Evaluated Impaired Loans | The following table presents additional information regarding individually evaluated impaired loans.
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Average Individually Evaluated Impaired Loans And Related Interest Recognized | The following table presents information regarding average individually evaluated impaired loans and the related interest recognized as of June 30, 2019 and 2018. Interest income recognized for the period primarily related to performing restructured loans.
(b) Primarily loans secured by owner-occupied real estate.
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Troubled Debt Restructurings By Type Of Modification | The following table details the recorded balance at June 30, 2019 and 2018 of loans considered to be troubled debt restructurings (TDRs) that were restructured during the three- and six-month periods ended June 30, 2019 and 2018, by type of modification. In cases of loans with more than one type of modification, the loans were categorized based on the most significant modification.
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Troubled Debt Restructuring Subsequent Default | The following table presents information regarding the recorded balance at June 30, 2019 and 2018 of loans modified by principal deferral during the twelve-month periods ended June 30, 2019 and 2018.
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Derivative And Credit-Related Financial Instruments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Derivative Instruments | The following table presents the composition of the Corporation’s derivative instruments held or issued for risk management purposes or in connection with customer-initiated and other activities at June 30, 2019 and December 31, 2018. The table excludes commitments and warrants accounted for as derivatives.
(b) Net derivative assets are included in accrued income and other assets and net derivative liabilities are included in accrued expenses and other liabilities on the Consolidated Balance Sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and credit risk of the Corporation. The fair value of net derivative assets included credit valuation adjustments for counterparty credit risk of $7 million and $2 million at June 30, 2019 and December 31, 2018, respectively.
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Schedule of the Effects of Fair Value Hedging on the Consolidated Statements of Comprehensive Income | The following table details the effects of fair value hedging on the Consolidated Statements of Comprehensive Income.
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Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Interest Rate Swaps | The following table summarizes the expected weighted average remaining maturity of the notional amount of risk management interest rate swaps, the carrying amount of the related hedged items and the weighted average interest rates associated with amounts expected to be received or paid on interest rate swap agreements as of June 30, 2019 and December 31, 2018.
(b) Variable rates paid on receive fixed swaps designated as fair value and cash flow hedges are based on one- and six-month LIBOR rates in effect at June 30, 2019 and December 31, 2018
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Schedule Of Net Gains Recognized In Income On Customer-Initiated Derivatives | The net gains recognized in income on customer-initiated derivative instruments, net of the impact of offsetting positions, were as follows.
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Schedule Of Financial Instruments With Off-Balance Sheet Credit Risk | The Corporation’s credit risk associated with these instruments is represented by the contractual amounts indicated in the following table.
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Summary Of Criticized Letters Of Credit | The following table presents a summary of criticized standby and commercial letters of credit at June 30, 2019 and December 31, 2018. The Corporation's criticized list is generally consistent with the Special Mention, Substandard and Doubtful categories defined by regulatory authorities. The Corporation manages credit risk through underwriting, periodically reviewing and approving its credit exposures using Board committee approved credit policies and guidelines.
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Variable Interest Entities (VIEs) (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact Of VIEs On The Consolidated Statements Of Comprehensive Income | The following table summarizes the impact of these tax credit entities on line items on the Corporation’s Consolidated Statements of Comprehensive Income.
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Medium- And Long-Term Debt (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Medium- And Long-Term Debt | Medium- and long-term debt is summarized as follows:
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Accumulated Other Comprehensive Loss (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Loss | The following table presents a reconciliation of the changes in the components of accumulated other comprehensive loss and details the components of other comprehensive income (loss) for the six months ended June 30, 2019 and 2018, including the amount of income tax expense (benefit) allocated to each component of other comprehensive income (loss).
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Net Income Per Share (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic And Diluted Net Income Per Share | Basic and diluted net income per share are presented in the following table.
|
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Schedule of Average Shares Excluded from Diluted Net Income Per Share Computation | The following average shares related to outstanding options to purchase shares of stock were not included in the computation of diluted net income per share because the options were anti-dilutive for the period.
|
Employee Benefit Plans (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Net Periodic Benefit Cost | The components of net periodic benefit cost (credit) for the Corporation's qualified pension plan, non-qualified pension plan and postretirement benefit plan are as follows.
|
Business Segment Information (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segment Financial Results | Business segment financial results are as follows:
n/m – not meaningful
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Market Segment Financial Results | eview. Market segment financial results are as follows:
n/m – not meaningful
n/m – not meaningful
|
Revenue from Contracts with Customers (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Composition of Revenue from Contracts with Customers | The following table presents the composition of revenue from contracts with customers, segregated from other sources of noninterest income, by business segment.
(b) Excludes derivative, warrant and other miscellaneous income.
|
Leases (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases (Narrative) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual Maturities of Operating Lease Liabilities | As of June 30, 2019, the contractual maturities of operating lease liabilities were as follows:
(a) Contractual maturities for the six months remaining in 2019.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual Maturities of Sales-Type and Direct-Financing Lease Receivables | As of June 30, 2019, the contractual maturities of sales-type and direct financing lease receivables were as follows:
(b) Excludes net investment in leveraged leases of $215 million.
|
Basis of Presentation and Accounting Policies Basis of Presentation and Accounting Policies (Narrative) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Jan. 01, 2019 |
---|---|---|
Right of use assets | $ 329 | |
Operating lease liabilities | $ 366 | |
Accounting Standards Update 2016-02 | ||
Right of use assets | $ 329 | |
Operating lease liabilities | 343 | |
Cumulative effect of change in accounting principle | $ 14 |
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|
Recurring | |||||
Transfers into or out of Level 1 or Level 2 or Level 3 | $ 0 | $ 0 | $ 0 | $ 0 | |
Total liabilities at fair value | 260 | 260 | $ 357 | ||
Nonrecurring | |||||
Total liabilities at fair value | $ 0 | $ 0 | $ 0 |
Fair Value Measurements (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||
---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | $ 12,338 | $ 12,045 | |||
Derivative assets | 350 | 275 | |||
Derivative liabilities | 171 | 269 | |||
U.S. Treasury and other U.S. government agency securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 2,793 | 2,727 | |||
Residential mortgage-backed securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | [1] | 9,545 | 9,318 | ||
Recurring | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 12,338 | 12,045 | |||
Derivative assets | 350 | 275 | |||
Total assets at fair value | 12,824 | 12,451 | |||
Derivative liabilities | 171 | 269 | |||
Deferred compensation plan liabilities | 89 | 88 | |||
Total liabilities at fair value | 260 | 357 | |||
Recurring | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 2,793 | 2,727 | |||
Derivative assets | 0 | 0 | |||
Total assets at fair value | 2,929 | 2,858 | |||
Derivative liabilities | 0 | 0 | |||
Deferred compensation plan liabilities | 89 | 88 | |||
Total liabilities at fair value | 89 | 88 | |||
Recurring | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 9,545 | 9,318 | |||
Derivative assets | 329 | 266 | |||
Total assets at fair value | 9,874 | 9,584 | |||
Derivative liabilities | 171 | 269 | |||
Deferred compensation plan liabilities | 0 | 0 | |||
Total liabilities at fair value | 171 | 269 | |||
Recurring | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | |||
Derivative assets | 21 | 9 | |||
Total assets at fair value | 21 | 9 | |||
Derivative liabilities | 0 | 0 | |||
Deferred compensation plan liabilities | 0 | 0 | |||
Total liabilities at fair value | 0 | 0 | |||
Recurring | Interest rate contracts | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 210 | 67 | |||
Derivative liabilities | 36 | 70 | |||
Recurring | Interest rate contracts | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Recurring | Interest rate contracts | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 189 | 58 | |||
Derivative liabilities | 36 | 70 | |||
Recurring | Interest rate contracts | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 21 | 9 | |||
Derivative liabilities | 0 | 0 | |||
Recurring | Energy derivative contracts | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 129 | 189 | |||
Derivative liabilities | 125 | 186 | |||
Recurring | Energy derivative contracts | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Recurring | Energy derivative contracts | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 129 | 189 | |||
Derivative liabilities | 125 | 186 | |||
Recurring | Energy derivative contracts | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Recurring | Foreign exchange contracts | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 11 | 19 | |||
Derivative liabilities | 10 | 13 | |||
Recurring | Foreign exchange contracts | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Recurring | Foreign exchange contracts | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 11 | 19 | |||
Derivative liabilities | 10 | 13 | |||
Recurring | Foreign exchange contracts | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Recurring | Deferred compensation plan assets | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 89 | 88 | |||
Recurring | Deferred compensation plan assets | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 89 | 88 | |||
Recurring | Deferred compensation plan assets | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Recurring | Deferred compensation plan assets | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Recurring | Equity and other non-debt securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other equity securities | 47 | 43 | |||
Recurring | Equity and other non-debt securities | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other equity securities | 47 | 43 | |||
Recurring | Equity and other non-debt securities | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other equity securities | 0 | 0 | |||
Recurring | Equity and other non-debt securities | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other equity securities | 0 | 0 | |||
Recurring | U.S. Treasury and other U.S. government agency securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 2,793 | 2,727 | |||
Recurring | U.S. Treasury and other U.S. government agency securities | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 2,793 | 2,727 | |||
Recurring | U.S. Treasury and other U.S. government agency securities | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | |||
Recurring | U.S. Treasury and other U.S. government agency securities | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | |||
Recurring | Residential mortgage-backed securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | [1] | 9,545 | 9,318 | ||
Recurring | Residential mortgage-backed securities | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | [1] | 0 | 0 | ||
Recurring | Residential mortgage-backed securities | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | [1] | 9,545 | 9,318 | ||
Recurring | Residential mortgage-backed securities | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | [1] | $ 0 | $ 0 | ||
|
Fair Value Measurements (Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jan. 01, 2018 |
||||||||
Change in classification | $ 0 | $ 81 | $ 0 | $ 81 | ||||||||
Interest rate contracts | ||||||||||||
Balance at beginning of period | 14 | 7 | 9 | 14 | ||||||||
Change in classification | 0 | 0 | 0 | 0 | ||||||||
Realized gains (losses) recorded in earnings | [1] | 0 | 0 | 0 | 0 | |||||||
Unrealized gains (losses) recorded in earnings | [1] | 7 | (1) | 12 | (8) | |||||||
Sales and redemptions | 0 | 0 | 0 | 0 | ||||||||
Balance at end of period | $ 21 | 6 | $ 21 | 6 | ||||||||
Investment Securities Available-For-Sale | ||||||||||||
Balance at beginning of period | 49 | |||||||||||
Change in classification | [2] | $ (44) | ||||||||||
Realized gains (losses) recorded in earnings | [1] | 0 | ||||||||||
Unrealized gains (losses) recorded in earnings | [1] | 0 | ||||||||||
Sales and redemptions | (5) | |||||||||||
Balance at end of period | 0 | 0 | ||||||||||
Equity and other non-debt securities | Equity and other non-debt securities | ||||||||||||
Balance at beginning of period | 0 | |||||||||||
Change in classification | [2] | 44 | ||||||||||
Realized gains (losses) recorded in earnings | [1] | 0 | ||||||||||
Unrealized gains (losses) recorded in earnings | [1] | 0 | ||||||||||
Sales and redemptions | (44) | |||||||||||
Balance at end of period | 0 | 0 | ||||||||||
Equity and other non-debt securities | Investment Securities Available-For-Sale | ||||||||||||
Balance at beginning of period | [3] | 44 | ||||||||||
Change in classification | [2],[3] | $ (44) | ||||||||||
Realized gains (losses) recorded in earnings | [1],[3] | 0 | ||||||||||
Unrealized gains (losses) recorded in earnings | [1],[3] | 0 | ||||||||||
Sales and redemptions | [3] | 0 | ||||||||||
Balance at end of period | [3] | 0 | 0 | |||||||||
State and municipal securities | Investment Securities Available-For-Sale | ||||||||||||
Balance at beginning of period | [3] | 5 | ||||||||||
Change in classification | [3] | 0 | 0 | |||||||||
Realized gains (losses) recorded in earnings | [1],[3] | 0 | ||||||||||
Unrealized gains (losses) recorded in earnings | [1],[3] | 0 | ||||||||||
Sales and redemptions | [3] | (5) | ||||||||||
Balance at end of period | [3] | $ 0 | $ 0 | |||||||||
|
Fair Value Measurements (Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis) (Details) - Nonrecurring - Level 3 - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 53 | $ 35 |
Commercial borrower | Domestic loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 51 | 33 |
Commercial borrower | Commercial mortgage | Domestic loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 2 | $ 2 |
Fair Value Measurements (Estimated Fair Values Of Financial Instruments Not Recorded At Fair Value In Their Entirety On A Recurring Basis) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||
---|---|---|---|---|---|---|---|
Cash and due from banks | $ 1,029 | $ 1,390 | |||||
Interest-bearing deposits with banks | 2,552 | 3,171 | |||||
Total loans, net of allowance for loan losses | 51,144 | 49,492 | |||||
Demand deposits (noninterest-bearing) | 27,001 | 28,690 | |||||
Customer certificates of deposit | 2,441 | 2,131 | |||||
Other time deposits | 1,726 | 0 | |||||
Total deposits | 55,537 | 55,561 | |||||
Short-term borrowings | 1,733 | 44 | |||||
Medium- and long-term debt | 6,558 | 6,463 | |||||
Carrying Amount | |||||||
Cash and due from banks | 1,029 | 1,390 | |||||
Interest-bearing deposits with banks | 2,552 | 3,171 | |||||
Loans held-for-sale | 4 | 3 | |||||
Total loans, net of allowance for loan losses | [1] | 51,144 | 49,492 | ||||
Customers' liability on acceptances outstanding | 4 | 4 | |||||
Restricted equity investments | 297 | 248 | |||||
Nonmarketable equity securities | [2] | 6 | 6 | ||||
Demand deposits (noninterest-bearing) | 27,001 | 28,690 | |||||
Interest-bearing deposits | 24,369 | 24,740 | |||||
Customer certificates of deposit | 2,441 | 2,131 | |||||
Other time deposits | 1,726 | ||||||
Total deposits | 55,537 | 55,561 | |||||
Short-term borrowings | 1,733 | 44 | |||||
Acceptances outstanding | 4 | 4 | |||||
Medium- and long-term debt | 6,558 | 6,463 | |||||
Credit-related financial instruments | (55) | (57) | |||||
Estimated Fair Value | |||||||
Cash and due from banks | 1,029 | 1,390 | |||||
Interest-bearing deposits with banks | 2,552 | 3,171 | |||||
Loans held-for-sale | 4 | 3 | |||||
Total loans, net of allowance for loan losses | [1] | 51,292 | 48,889 | ||||
Customers' liability on acceptances outstanding | 4 | 4 | |||||
Restricted equity investments | 297 | 248 | |||||
Nonmarketable equity securities | [2] | 10 | 11 | ||||
Demand deposits (noninterest-bearing) | 27,001 | 28,690 | |||||
Interest-bearing deposits | 24,369 | 24,740 | |||||
Customer certificates of deposit | 2,427 | 2,100 | |||||
Other time deposits | 1,727 | ||||||
Total deposits | 55,524 | 55,530 | |||||
Short-term borrowings | 1,733 | 44 | |||||
Acceptances outstanding | 4 | 4 | |||||
Medium- and long-term debt | 6,568 | 6,436 | |||||
Credit-related financial instruments | (55) | (57) | |||||
Level 1 | Estimated Fair Value | |||||||
Cash and due from banks | 1,029 | 1,390 | |||||
Interest-bearing deposits with banks | 2,552 | 3,171 | |||||
Loans held-for-sale | 0 | 0 | |||||
Total loans, net of allowance for loan losses | [1] | 0 | 0 | ||||
Customers' liability on acceptances outstanding | 4 | 4 | |||||
Restricted equity investments | 297 | 248 | |||||
Demand deposits (noninterest-bearing) | 0 | 0 | |||||
Interest-bearing deposits | 0 | 0 | |||||
Customer certificates of deposit | 0 | 0 | |||||
Other time deposits | 0 | ||||||
Total deposits | 0 | 0 | |||||
Short-term borrowings | 1,733 | 44 | |||||
Acceptances outstanding | 4 | 4 | |||||
Medium- and long-term debt | 0 | 0 | |||||
Credit-related financial instruments | 0 | 0 | |||||
Level 2 | Estimated Fair Value | |||||||
Cash and due from banks | 0 | 0 | |||||
Interest-bearing deposits with banks | 0 | 0 | |||||
Loans held-for-sale | 4 | 3 | |||||
Total loans, net of allowance for loan losses | [1] | 0 | 0 | ||||
Customers' liability on acceptances outstanding | 0 | 0 | |||||
Restricted equity investments | 0 | 0 | |||||
Demand deposits (noninterest-bearing) | 27,001 | 28,690 | |||||
Interest-bearing deposits | 24,369 | 24,740 | |||||
Customer certificates of deposit | 2,427 | 2,100 | |||||
Other time deposits | 1,727 | ||||||
Total deposits | 55,524 | 55,530 | |||||
Short-term borrowings | 0 | 0 | |||||
Acceptances outstanding | 0 | 0 | |||||
Medium- and long-term debt | 6,568 | 6,436 | |||||
Credit-related financial instruments | 0 | 0 | |||||
Level 3 | Estimated Fair Value | |||||||
Cash and due from banks | 0 | 0 | |||||
Interest-bearing deposits with banks | 0 | 0 | |||||
Loans held-for-sale | 0 | 0 | |||||
Total loans, net of allowance for loan losses | [1] | 51,292 | 48,889 | ||||
Customers' liability on acceptances outstanding | 0 | 0 | |||||
Restricted equity investments | 0 | 0 | |||||
Demand deposits (noninterest-bearing) | 0 | 0 | |||||
Interest-bearing deposits | 0 | 0 | |||||
Customer certificates of deposit | 0 | 0 | |||||
Other time deposits | 0 | ||||||
Total deposits | 0 | 0 | |||||
Short-term borrowings | 0 | 0 | |||||
Acceptances outstanding | 0 | 0 | |||||
Medium- and long-term debt | 0 | 0 | |||||
Credit-related financial instruments | (55) | (57) | |||||
Nonrecurring | |||||||
Total loans, net of allowance for loan losses | $ 53 | $ 35 | |||||
|
Investment Securities (Narrative) (Details) $ in Millions |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2019
USD ($)
Security
|
Jun. 30, 2018
USD ($)
|
Dec. 31, 2018
USD ($)
|
||||
Residential mortgage-backed securities transferred from held-to-maturity to available-for-sale | $ 0 | $ 1,266 | ||||
Investment securities available-for-sale, Amortized Cost | 12,281 | $ 12,225 | ||||
Investment securities available-for-sale, Fair Value | 12,338 | 12,045 | ||||
Carrying value of securities pledged | 311 | |||||
Liabilities secured by pledged collateral | 259 | |||||
U.S. Treasury and other U.S. government agency securities | ||||||
Investment securities available-for-sale, Amortized Cost | 2,744 | 2,732 | ||||
Investment securities available-for-sale, Fair Value | $ 2,793 | 2,727 | ||||
Residential mortgage-backed securities | ||||||
Securities with no credit impairment in unrealized loss position | Security | 206 | |||||
Investment securities available-for-sale, Amortized Cost | [1] | $ 9,537 | 9,493 | |||
Investment securities available-for-sale, Fair Value | [1] | 9,545 | $ 9,318 | |||
Debt securities | ||||||
Investment securities available-for-sale, Amortized Cost | 12,281 | |||||
Investment securities available-for-sale, Fair Value | 12,338 | |||||
Prepayment options | Residential mortgage-backed securities | ||||||
Investment securities available-for-sale, Amortized Cost | [1] | 9,537 | ||||
Investment securities available-for-sale, Fair Value | [1] | $ 9,500 | ||||
|
Investment Securities (Summary Of Investment Securities) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||
---|---|---|---|---|---|
Investment securities available-for-sale, Amortized Cost | $ 12,281 | $ 12,225 | |||
Investment securities available-for-sale securities, Gross Unrealized Gains | 110 | 36 | |||
Investment securities available-for-sale securities, Gross Unrealized Losses | 53 | 216 | |||
Investment securities available-for-sale, Fair Value | 12,338 | 12,045 | |||
U.S. Treasury and other U.S. government agency securities | |||||
Investment securities available-for-sale, Amortized Cost | 2,744 | 2,732 | |||
Investment securities available-for-sale securities, Gross Unrealized Gains | 49 | 14 | |||
Investment securities available-for-sale securities, Gross Unrealized Losses | 0 | 19 | |||
Investment securities available-for-sale, Fair Value | 2,793 | 2,727 | |||
Residential mortgage-backed securities | |||||
Investment securities available-for-sale, Amortized Cost | [1] | 9,537 | 9,493 | ||
Investment securities available-for-sale securities, Gross Unrealized Gains | [1] | 61 | 22 | ||
Investment securities available-for-sale securities, Gross Unrealized Losses | [1] | 53 | 197 | ||
Investment securities available-for-sale, Fair Value | [1] | $ 9,545 | $ 9,318 | ||
|
Investment Securities (Summary Of Investment Securities In Unrealized Loss Positions) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||
---|---|---|---|---|---|
Temporarily Impaired Less than 12 months, Fair Value | $ 271 | $ 1,008 | |||
Temporarily Impaired Less than 12 Months, Unrealized Losses | 0 | 9 | |||
Temporarily Impaired 12 months or more, Fair Value | 4,194 | 7,869 | |||
Temporarily Impaired 12 Months or more, Unrealized Losses | 53 | 207 | |||
Temporarily Impaired Total, Fair Value | 4,465 | 8,877 | |||
Temporarily Impaired Total, Unrealized Losses | 53 | 216 | |||
U.S. Treasury and other U.S. government agency securities | |||||
Temporarily Impaired Less than 12 months, Fair Value | 0 | ||||
Temporarily Impaired Less than 12 Months, Unrealized Losses | 0 | ||||
Temporarily Impaired 12 months or more, Fair Value | 1,457 | ||||
Temporarily Impaired 12 Months or more, Unrealized Losses | 19 | ||||
Temporarily Impaired Total, Fair Value | 1,457 | ||||
Temporarily Impaired Total, Unrealized Losses | 19 | ||||
Residential mortgage-backed securities | |||||
Temporarily Impaired Less than 12 months, Fair Value | [1] | 271 | 1,008 | ||
Temporarily Impaired Less than 12 Months, Unrealized Losses | [1] | 0 | 9 | ||
Temporarily Impaired 12 months or more, Fair Value | [1] | 4,194 | 6,412 | ||
Temporarily Impaired 12 Months or more, Unrealized Losses | [1] | 53 | 188 | ||
Temporarily Impaired Total, Fair Value | [1] | 4,465 | 7,420 | ||
Temporarily Impaired Total, Unrealized Losses | [1] | $ 53 | $ 197 | ||
|
Investment Securities Investment Securities (Summary of Net Securities Gains (Losses)) (Details) - Debt securities - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Investments, Debt, and Equity Securities [Abstract] | ||||
Securities gains | $ 0 | $ 0 | $ 0 | $ 1 |
Securities losses | $ 0 | $ 0 | (8) | 0 |
Net securities losses | $ (8) | $ 1 |
Investment Securities (Contractual Maturity Distribution Of Debt Securities) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Investment securities available-for-sale, Amortized Cost | $ 12,281 | $ 12,225 |
Investment securities available-for-sale, Fair Value | 12,338 | $ 12,045 |
Debt securities | ||
Available-for-sale, After one year through five years, Amortized Cost | 2,788 | |
Available-for-sale, After five years through ten years, Amortized Cost | 1,288 | |
Available-for-sale, After ten years, Amortized Cost | 8,205 | |
Investment securities available-for-sale, Amortized Cost | 12,281 | |
Available-for-sale, After one year through five years, Fair Value | 2,839 | |
Available-for-sale, After five years through ten years, Fair Value | 1,295 | |
Available-for-sale, After ten years, Fair Value | 8,204 | |
Investment securities available-for-sale, Fair Value | $ 12,338 |
Credit Quality And Allowance For Credit Losses (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|
Retail loans secured by residential real estate in process of foreclosure | $ 0.0 | $ 0.0 | $ 1.0 | ||
Commitments to lend additional funds to TDR borrowers | 6.0 | $ 6.0 | $ 20.0 | ||
Principal Deferrals | |||||
Minimum period loan terms were extended | 90 days | 90 days | |||
Balance | 15.0 | $ 137.0 | $ 15.0 | $ 137.0 | |
Subsequent default during period | 0.0 | 0.0 | 0.0 | 0.0 | |
Interest Rate Reductions | |||||
Balance | 3.0 | 2.0 | 3.0 | 2.0 | |
Subsequent default during period | 0.0 | 0.0 | 0.0 | 0.0 | |
AB Note Restructures | |||||
Balance | 0.0 | 0.0 | |||
Subsequent default during period | $ 0.0 | $ 0.0 | $ 0.0 | $ 0.0 |
Credit Quality And Allowance For Credit Losses (Aging Analysis Of Loans) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||
---|---|---|---|---|---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | $ 186 | $ 149 | |||||
Nonaccrual loans | 224 | 221 | |||||
Current loans | 51,391 | 49,793 | |||||
Total loans | 51,801 | 50,163 | |||||
30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 102 | 98 | |||||
60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 67 | 35 | |||||
90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 17 | 16 | |||||
Business loans | Commercial borrower | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 153 | 129 | |||||
Nonaccrual loans | 171 | 166 | |||||
Current loans | 47,110 | 45,384 | |||||
Total loans | 47,434 | 45,679 | |||||
Business loans | Commercial borrower | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 72 | 82 | |||||
Business loans | Commercial borrower | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 64 | 31 | |||||
Business loans | Commercial borrower | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 17 | 16 | |||||
Business loans | Commercial borrower | Domestic loans | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 77 | 68 | |||||
Nonaccrual loans | 155 | 141 | |||||
Current loans | 33,094 | 31,767 | |||||
Total loans | 33,326 | 31,976 | |||||
Business loans | Commercial borrower | Domestic loans | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 44 | 34 | |||||
Business loans | Commercial borrower | Domestic loans | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 22 | 26 | |||||
Business loans | Commercial borrower | Domestic loans | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 11 | 8 | |||||
Business loans | Commercial borrower | International loans | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 5 | 0 | |||||
Nonaccrual loans | 3 | 3 | |||||
Current loans | 1,016 | 1,010 | |||||
Total loans | 1,024 | 1,013 | |||||
Business loans | Commercial borrower | International loans | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 5 | 0 | |||||
Business loans | Commercial borrower | International loans | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Business loans | Commercial borrower | International loans | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 16 | 12 | |||||
Nonaccrual loans | 0 | 0 | |||||
Current loans | 3,276 | 3,065 | |||||
Total loans | 3,292 | 3,077 | |||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 16 | 12 | |||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 16 | 6 | ||||
Nonaccrual loans | [1] | 0 | 0 | ||||
Current loans | [1] | 2,920 | 2,681 | ||||
Total loans | [1] | 2,936 | 2,687 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 16 | 6 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 0 | 0 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 0 | 0 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 0 | 6 | ||||
Nonaccrual loans | [2] | 0 | 0 | ||||
Current loans | [2] | 356 | 384 | ||||
Total loans | [2] | 356 | 390 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 0 | 6 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 0 | 0 | ||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 0 | 0 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 55 | 49 | |||||
Nonaccrual loans | 12 | 20 | |||||
Current loans | 9,150 | 9,037 | |||||
Total loans | 9,217 | 9,106 | |||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 7 | 36 | |||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 42 | 5 | |||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 6 | 8 | |||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 37 | 4 | ||||
Nonaccrual loans | [1] | 2 | 2 | ||||
Current loans | [1] | 1,858 | 1,737 | ||||
Total loans | [1] | 1,897 | 1,743 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 2 | 4 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 35 | 0 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [1] | 0 | 0 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 18 | 45 | ||||
Nonaccrual loans | [2] | 10 | 18 | ||||
Current loans | [2] | 7,292 | 7,300 | ||||
Total loans | [2] | 7,320 | 7,363 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 5 | 32 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 7 | 5 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | [2] | 6 | 8 | ||||
Business loans | Lease financing | Commercial borrower | Domestic loans | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Nonaccrual loans | 1 | 2 | |||||
Current loans | 574 | 505 | |||||
Total loans | 575 | 507 | |||||
Business loans | Lease financing | Commercial borrower | Domestic loans | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Business loans | Lease financing | Commercial borrower | Domestic loans | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Business loans | Lease financing | Commercial borrower | Domestic loans | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Retail loans | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 33 | 20 | |||||
Nonaccrual loans | 53 | 55 | |||||
Current loans | 4,281 | 4,409 | |||||
Total loans | 4,367 | 4,484 | |||||
Retail loans | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 30 | 16 | |||||
Retail loans | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 3 | 4 | |||||
Retail loans | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Retail loans | Consumer borrower | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 5 | 6 | |||||
Nonaccrual loans | 18 | 19 | |||||
Current loans | 2,420 | 2,489 | |||||
Total loans | 2,443 | 2,514 | |||||
Retail loans | Consumer borrower | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 4 | 5 | |||||
Retail loans | Consumer borrower | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 1 | 1 | |||||
Retail loans | Consumer borrower | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Retail loans | Residential mortgage | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 28 | 14 | |||||
Nonaccrual loans | 35 | 36 | |||||
Current loans | 1,861 | 1,920 | |||||
Total loans | 1,924 | 1,970 | |||||
Retail loans | Residential mortgage | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 26 | 11 | |||||
Retail loans | Residential mortgage | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 2 | 3 | |||||
Retail loans | Residential mortgage | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Retail loans | Home equity | Consumer borrower | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 4 | 5 | |||||
Nonaccrual loans | 18 | 19 | |||||
Current loans | 1,731 | 1,741 | |||||
Total loans | 1,753 | 1,765 | |||||
Retail loans | Home equity | Consumer borrower | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 3 | 4 | |||||
Retail loans | Home equity | Consumer borrower | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 1 | 1 | |||||
Retail loans | Home equity | Consumer borrower | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Retail loans | Other consumer | Consumer borrower | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 1 | 1 | |||||
Nonaccrual loans | 0 | 0 | |||||
Current loans | 689 | 748 | |||||
Total loans | 690 | 749 | |||||
Retail loans | Other consumer | Consumer borrower | 30 to 59 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 1 | 1 | |||||
Retail loans | Other consumer | Consumer borrower | 60 to 89 days past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | 0 | 0 | |||||
Retail loans | Other consumer | Consumer borrower | 90 days or more past due and still accruing | |||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||
Loans past due and still accruing | $ 0 | $ 0 | |||||
|
Credit Quality And Allowance For Credit Losses (Loans By Credit Quality Indicator) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | $ 51,801 | $ 50,163 | |||||||||||||
Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 49,853 | 48,615 | ||||||||||||
Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 943 | 638 | ||||||||||||
Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 781 | 689 | ||||||||||||
Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 224 | 221 | ||||||||||||
Business loans | Commercial borrower | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 47,434 | 45,679 | |||||||||||||
Business loans | Commercial borrower | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 45,553 | 44,198 | ||||||||||||
Business loans | Commercial borrower | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 937 | 634 | ||||||||||||
Business loans | Commercial borrower | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 773 | 681 | ||||||||||||
Business loans | Commercial borrower | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 171 | 166 | ||||||||||||
Business loans | Commercial borrower | Domestic loans | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 33,326 | 31,976 | |||||||||||||
Business loans | Commercial borrower | Domestic loans | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 31,818 | 30,817 | ||||||||||||
Business loans | Commercial borrower | Domestic loans | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 703 | 464 | ||||||||||||
Business loans | Commercial borrower | Domestic loans | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 650 | 554 | ||||||||||||
Business loans | Commercial borrower | Domestic loans | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 155 | 141 | ||||||||||||
Business loans | Commercial borrower | International loans | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 1,024 | 1,013 | |||||||||||||
Business loans | Commercial borrower | International loans | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 993 | 996 | ||||||||||||
Business loans | Commercial borrower | International loans | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 19 | 4 | ||||||||||||
Business loans | Commercial borrower | International loans | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 9 | 10 | ||||||||||||
Business loans | Commercial borrower | International loans | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 3 | 3 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 3,292 | 3,077 | |||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 3,240 | 3,046 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 52 | 31 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 0 | 0 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 0 | 0 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [5] | 2,936 | 2,687 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1],[5] | 2,887 | 2,664 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2],[5] | 49 | 23 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3],[5] | 0 | 0 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Commercial Real Estate business line | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4],[5] | 0 | 0 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [6] | 356 | 390 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1],[6] | 353 | 382 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2],[6] | 3 | 8 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3],[6] | 0 | 0 | ||||||||||||
Business loans | Real estate construction | Commercial borrower | Domestic loans | Other business lines | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4],[6] | 0 | 0 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 9,217 | 9,106 | |||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 8,945 | 8,839 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 149 | 132 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 111 | 115 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 12 | 20 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [5] | 1,897 | 1,743 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1],[5] | 1,840 | 1,682 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2],[5] | 14 | 14 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3],[5] | 41 | 45 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4],[5] | 2 | 2 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [6] | 7,320 | 7,363 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1],[6] | 7,105 | 7,157 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2],[6] | 135 | 118 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3],[6] | 70 | 70 | ||||||||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4],[6] | 10 | 18 | ||||||||||||
Business loans | Lease financing | Commercial borrower | Domestic loans | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 575 | 507 | |||||||||||||
Business loans | Lease financing | Commercial borrower | Domestic loans | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 557 | 500 | ||||||||||||
Business loans | Lease financing | Commercial borrower | Domestic loans | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 14 | 3 | ||||||||||||
Business loans | Lease financing | Commercial borrower | Domestic loans | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 3 | 2 | ||||||||||||
Business loans | Lease financing | Commercial borrower | Domestic loans | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 1 | 2 | ||||||||||||
Retail loans | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 4,367 | 4,484 | |||||||||||||
Retail loans | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 4,300 | 4,417 | ||||||||||||
Retail loans | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 6 | 4 | ||||||||||||
Retail loans | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 8 | 8 | ||||||||||||
Retail loans | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 53 | 55 | ||||||||||||
Retail loans | Consumer borrower | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 2,443 | 2,514 | |||||||||||||
Retail loans | Consumer borrower | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 2,413 | 2,486 | ||||||||||||
Retail loans | Consumer borrower | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 4 | 1 | ||||||||||||
Retail loans | Consumer borrower | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 8 | 8 | ||||||||||||
Retail loans | Consumer borrower | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 18 | 19 | ||||||||||||
Retail loans | Residential mortgage | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 1,924 | 1,970 | |||||||||||||
Retail loans | Residential mortgage | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 1,887 | 1,931 | ||||||||||||
Retail loans | Residential mortgage | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 2 | 3 | ||||||||||||
Retail loans | Residential mortgage | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 0 | 0 | ||||||||||||
Retail loans | Residential mortgage | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 35 | 36 | ||||||||||||
Retail loans | Home equity | Consumer borrower | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 1,753 | 1,765 | |||||||||||||
Retail loans | Home equity | Consumer borrower | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 1,727 | 1,738 | ||||||||||||
Retail loans | Home equity | Consumer borrower | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 0 | 0 | ||||||||||||
Retail loans | Home equity | Consumer borrower | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 8 | 8 | ||||||||||||
Retail loans | Home equity | Consumer borrower | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | 18 | 19 | ||||||||||||
Retail loans | Other consumer | Consumer borrower | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | 690 | 749 | |||||||||||||
Retail loans | Other consumer | Consumer borrower | Pass | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [1] | 686 | 748 | ||||||||||||
Retail loans | Other consumer | Consumer borrower | Special Mention | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [2] | 4 | 1 | ||||||||||||
Retail loans | Other consumer | Consumer borrower | Substandard | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [3] | 0 | 0 | ||||||||||||
Retail loans | Other consumer | Consumer borrower | Nonaccrual | |||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||
Total loans | [4] | $ 0 | $ 0 | ||||||||||||
|
Credit Quality And Allowance For Credit Losses (Schedule Of Nonaccrual, Reduced-Rate Loans And Foreclosed Property) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||
---|---|---|---|---|---|---|---|
Nonaccrual loans | $ 224 | $ 221 | |||||
Reduced-rate loans | 6 | [1] | 8 | ||||
Total nonperforming loans | 230 | 229 | |||||
Foreclosed property | 3 | [2] | 1 | ||||
Total nonperforming assets | 233 | 230 | |||||
Residential Real Estate | |||||||
Foreclosed property | 3 | 0 | |||||
Business loans | |||||||
Reduced-rate loans | 0 | 0 | |||||
Retail loans | |||||||
Nonaccrual loans | 53 | 55 | |||||
Reduced-rate loans | $ 6 | $ 8 | |||||
|
Credit Quality And Allowance For Credit Losses (Changes In The Allowance For Loan Losses And Related Loan Amounts) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Dec. 31, 2018 |
Jun. 30, 2018 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Provision for loan losses | $ 44 | $ (29) | $ 31 | $ (17) | |||
Total loans | $ 51,801 | $ 50,163 | |||||
Financing Receivable | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of period | 647 | 698 | 671 | 712 | |||
Loan charge-offs | (44) | (20) | (64) | (57) | |||
Recoveries on loans previously charged-off | 11 | 23 | 20 | 32 | |||
Net loan recoveries (charge-offs) | (33) | 3 | (44) | (25) | |||
Provision for loan losses | 43 | (23) | 30 | (9) | |||
Balance at end of period | 657 | 677 | 657 | 677 | |||
As a percentage of total loans | 1.27% | 1.36% | |||||
Allowance for loan losses individually evaluated for impairment | $ 39 | $ 39 | |||||
Allowance for loan losses collectively evaluated for impairment | 618 | 638 | |||||
Total allowance for loan losses | 647 | 698 | 671 | 712 | 657 | 671 | 677 |
Loans individually evaluated for impairment | 240 | 340 | |||||
Loans collectively evaluated for impairment | 51,561 | 49,452 | |||||
Total loans | $ 51,801 | $ 49,792 | |||||
Allowance for Loan and Lease Losses, Foreign Currency Translation | 0 | (1) | 0 | (1) | |||
Business loans | Financing Receivable | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of period | 608 | 653 | 627 | 661 | |||
Loan charge-offs | (43) | (18) | (62) | (54) | |||
Recoveries on loans previously charged-off | 10 | 22 | 18 | 30 | |||
Net loan recoveries (charge-offs) | (33) | 4 | (44) | (24) | |||
Provision for loan losses | 43 | (21) | 35 | (1) | |||
Balance at end of period | 618 | 635 | 618 | 635 | |||
As a percentage of total loans | 1.30% | 1.40% | |||||
Allowance for loan losses individually evaluated for impairment | $ 38 | $ 39 | |||||
Allowance for loan losses collectively evaluated for impairment | 580 | 596 | |||||
Total allowance for loan losses | 608 | 653 | 627 | 661 | 618 | 627 | 635 |
Loans individually evaluated for impairment | 207 | 310 | |||||
Loans collectively evaluated for impairment | 47,227 | 45,052 | |||||
Total loans | 47,434 | $ 45,362 | |||||
Allowance for Loan and Lease Losses, Foreign Currency Translation | 0 | (1) | 0 | (1) | |||
Retail loans | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Total loans | $ 4,367 | 4,484 | |||||
Retail loans | Financing Receivable | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Balance at beginning of period | 39 | 45 | 44 | 51 | |||
Loan charge-offs | (1) | (2) | (2) | (3) | |||
Recoveries on loans previously charged-off | 1 | 1 | 2 | 2 | |||
Net loan recoveries (charge-offs) | 0 | (1) | 0 | (1) | |||
Provision for loan losses | 0 | (2) | (5) | (8) | |||
Balance at end of period | 39 | 42 | 39 | 42 | |||
As a percentage of total loans | 0.89% | 0.96% | |||||
Allowance for loan losses individually evaluated for impairment | $ 1 | $ 0 | |||||
Allowance for loan losses collectively evaluated for impairment | 38 | 42 | |||||
Total allowance for loan losses | 39 | 45 | 39 | 42 | 39 | $ 44 | 42 |
Loans individually evaluated for impairment | 33 | 30 | |||||
Loans collectively evaluated for impairment | 4,334 | 4,400 | |||||
Total loans | $ 4,367 | $ 4,430 | |||||
Allowance for Loan and Lease Losses, Foreign Currency Translation | $ 0 | $ 0 | $ 0 | $ 0 |
Credit Quality And Allowance For Credit Losses (Changes In The Allowance For Credit Losses On Lending-Related Commitments) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Provision for credit losses | $ 44 | $ (29) | $ 31 | $ (17) |
Lending-related commitments | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 30 | 40 | 30 | 42 |
Provision for credit losses | 1 | (6) | 1 | (8) |
Balance at end of period | $ 31 | $ 34 | $ 31 | $ 34 |
Credit Quality And Allowance For Credit Losses (Individually Evaluated Impaired Loans) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||||
---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | $ 68 | $ 121 | |||||||
Recorded investment in impaired loans with related allowance | 172 | 155 | |||||||
Recorded investment total impaired loans | 240 | 276 | |||||||
Unpaid principal balance | 341 | 346 | |||||||
Related allowance for loan losses | 39 | 27 | |||||||
Business loans | Commercial borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 43 | 93 | |||||||
Recorded investment in impaired loans with related allowance | 164 | 147 | |||||||
Recorded investment total impaired loans | 207 | 240 | |||||||
Unpaid principal balance | 306 | 307 | |||||||
Related allowance for loan losses | 38 | 27 | |||||||
Business loans | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 0 | 50 | |||||||
Recorded investment in impaired loans with related allowance | 150 | 130 | |||||||
Recorded investment total impaired loans | 150 | 180 | |||||||
Unpaid principal balance | 229 | 227 | |||||||
Related allowance for loan losses | 36 | 24 | |||||||
Business loans | Commercial borrower | International loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 2 | 2 | |||||||
Recorded investment in impaired loans with related allowance | 1 | 1 | |||||||
Recorded investment total impaired loans | 3 | 3 | |||||||
Unpaid principal balance | 9 | 8 | |||||||
Related allowance for loan losses | 0 | 0 | |||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 41 | 41 | |||||||
Recorded investment in impaired loans with related allowance | 12 | 16 | |||||||
Recorded investment total impaired loans | 53 | 57 | |||||||
Unpaid principal balance | 67 | 72 | |||||||
Related allowance for loan losses | 2 | 3 | |||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | [1] | 39 | 39 | ||||||
Recorded investment in impaired loans with related allowance | [1] | 0 | 0 | ||||||
Recorded investment total impaired loans | [1] | 39 | 39 | ||||||
Unpaid principal balance | [1] | 49 | 49 | ||||||
Related allowance for loan losses | [1] | 0 | 0 | ||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | [2] | 2 | 2 | ||||||
Recorded investment in impaired loans with related allowance | [2] | 12 | 16 | ||||||
Recorded investment total impaired loans | [2] | 14 | 18 | ||||||
Unpaid principal balance | [2] | 18 | 23 | ||||||
Related allowance for loan losses | [2] | 2 | 3 | ||||||
Retail loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | [3] | 25 | 28 | ||||||
Recorded investment in impaired loans with related allowance | [3] | 8 | 8 | ||||||
Recorded investment total impaired loans | [3] | 33 | 36 | ||||||
Unpaid principal balance | [3] | 35 | 39 | ||||||
Related allowance for loan losses | [3] | 1 | 0 | ||||||
Retail loans | Consumer borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 9 | 12 | |||||||
Recorded investment in impaired loans with related allowance | 0 | 0 | |||||||
Recorded investment total impaired loans | 9 | 12 | |||||||
Unpaid principal balance | 11 | 14 | |||||||
Related allowance for loan losses | 0 | 0 | |||||||
Retail loans | Residential mortgage | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 16 | 16 | |||||||
Recorded investment in impaired loans with related allowance | 8 | 8 | |||||||
Recorded investment total impaired loans | 24 | 24 | |||||||
Unpaid principal balance | 24 | 25 | |||||||
Related allowance for loan losses | 1 | 0 | |||||||
Retail loans | Home equity | Consumer borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 9 | 11 | |||||||
Recorded investment in impaired loans with related allowance | 0 | 0 | |||||||
Recorded investment total impaired loans | 9 | 11 | |||||||
Unpaid principal balance | 10 | 13 | |||||||
Related allowance for loan losses | 0 | 0 | |||||||
Retail loans | Other consumer | Consumer borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 0 | 1 | |||||||
Recorded investment in impaired loans with related allowance | 0 | 0 | |||||||
Recorded investment total impaired loans | 0 | 1 | |||||||
Unpaid principal balance | 1 | 1 | |||||||
Related allowance for loan losses | 0 | $ 0 | |||||||
Business Loans Member | Lease financing | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Recorded investment in impaired loans with no related allowance | 0 | ||||||||
Recorded investment in impaired loans with related allowance | 1 | ||||||||
Recorded investment total impaired loans | 1 | ||||||||
Unpaid principal balance | 1 | ||||||||
Related allowance for loan losses | $ 0 | ||||||||
|
Credit Quality And Allowance For Credit Losses (Average Individually Evaluated Impaired Loans And Related Interest Recognized) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | $ 238 | $ 377 | $ 250 | $ 411 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 1 | 2 | 3 | 4 | |||||
Business loans | Commercial borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 204 | 346 | 216 | 379 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 1 | 2 | 3 | 4 | |||||
Business loans | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 146 | 277 | 157 | 309 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 1 | 1 | 2 | 2 | |||||
Business loans | Commercial borrower | International loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 3 | 4 | 3 | 5 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 0 | 0 | 0 | |||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 54 | 65 | 55 | 65 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 1 | 1 | 2 | |||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | [1] | 39 | 40 | 39 | 40 | ||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | [1] | 0 | 1 | 1 | 2 | ||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | [2] | 15 | 25 | 16 | 25 | ||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | [2] | 0 | 0 | 0 | 0 | ||||
Retail loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 34 | 31 | 34 | 32 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 0 | 0 | 0 | |||||
Retail loans | Consumer borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 10 | 12 | 10 | 12 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 0 | 0 | 0 | |||||
Retail loans | Residential mortgage | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 24 | 19 | 24 | 20 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 0 | 0 | 0 | |||||
Retail loans | Home equity | Consumer borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 9 | 11 | 9 | 11 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 0 | 0 | 0 | |||||
Retail loans | Other consumer | Consumer borrower | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 1 | 1 | 1 | 1 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | 0 | 0 | 0 | 0 | |||||
Business Loans Member | Lease financing | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Individually Evaluated Impaired Loans Average Balance for the Period | 1 | 0 | 1 | 0 | |||||
Individually Evaluated Impaired Loans Interest Income Recognized for the Period | $ 0 | $ 0 | $ 0 | $ 0 | |||||
|
Credit Quality And Allowance For Credit Losses (Troubled Debt Restructurings By Type Of Modification) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | $ 0 | $ 26 | $ 13 | $ 48 | |||||||
Business loans | Commercial borrower | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | 0 | 25 | 12 | 46 | |||||||
Business loans | Commercial borrower | Domestic loans | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | 0 | 25 | 11 | 45 | |||||||
Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [1] | 0 | 0 | 1 | 1 | ||||||
Retail loans | Home equity | Consumer borrower | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [2] | 0 | 1 | 1 | 2 | ||||||
Principal Deferrals | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [3] | 0 | 25 | $ 12 | $ 47 | ||||||
Minimum period loan terms were extended | 90 days | 90 days | |||||||||
Principal Deferrals | Business loans | Commercial borrower | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [3] | 0 | 25 | $ 12 | $ 46 | ||||||
Principal Deferrals | Business loans | Commercial borrower | Domestic loans | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [3] | 0 | 25 | 11 | 45 | ||||||
Principal Deferrals | Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [1],[3] | 0 | 0 | 1 | 1 | ||||||
Principal Deferrals | Retail loans | Home equity | Consumer borrower | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [2],[3] | 0 | 0 | 0 | 1 | ||||||
Interest Rate Reductions | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | 0 | 1 | 1 | 1 | |||||||
Interest Rate Reductions | Business loans | Commercial borrower | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | 0 | 0 | 0 | 0 | |||||||
Interest Rate Reductions | Business loans | Commercial borrower | Domestic loans | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | 0 | 0 | 0 | 0 | |||||||
Interest Rate Reductions | Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [1] | 0 | 0 | 0 | 0 | ||||||
Interest Rate Reductions | Retail loans | Home equity | Consumer borrower | |||||||||||
Financing Receivable, Modifications [Line Items] | |||||||||||
Recorded balance of troubled debt restructuring modified during the period | [2] | $ 0 | $ 1 | $ 1 | $ 1 | ||||||
|
Credit Quality And Allowance For Credit Losses Credit Quality And Allowance For Credit Losses (Troubled Debt Restructuring Subsequent Default) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Jun. 30, 2018 |
|||||||
---|---|---|---|---|---|---|---|---|---|
Principal Deferrals | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | $ 15 | $ 137 | |||||||
Principal Deferrals | Business loans | Commercial borrower | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | 14 | 136 | |||||||
Principal Deferrals | Business loans | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | 12 | 97 | |||||||
Principal Deferrals | Business loans | Commercial mortgage | Commercial borrower | Domestic loans | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | 2 | 39 | |||||||
Principal Deferrals | Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Commercial Real Estate business line | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | [1] | 0 | 37 | ||||||
Principal Deferrals | Business loans | Commercial mortgage | Commercial borrower | Domestic loans | Other business lines | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | [2] | 2 | 2 | ||||||
Principal Deferrals | Retail loans | Home equity | Consumer borrower | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | [3] | 1 | 1 | ||||||
Interest Rate Reductions | |||||||||
Financing Receivable, Modifications [Line Items] | |||||||||
Balance | $ 3 | $ 2 | |||||||
|
Derivative And Credit-Related Financial Instruments (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||
Fair value of securities pledged as collateral for derivative liabilities | $ 1 | $ 1 | |||
Cash received as collateral for derivative assets | 51 | 51 | |||
Fair value of securities pledged as collateral for derivative assets | 21 | 21 | |||
Cash posted as collateral for derivative liabilities | 10 | 10 | |||
Aggregate fair value of all derivative instruments with credit-risk contingent features that were in a liability position | 0 | 0 | |||
Net gain on open foreign currency positions | 0 | $ 0 | 0 | $ 0 | |
Allowance for credit losses on lending-related commitments | 31 | 31 | $ 30 | ||
Allowance for credit losses on lending-related commitments, amount related to unused commitments to extend credit | 24 | $ 24 | |||
Final year of expiration for outstanding letters of credit | 2028 | ||||
Risk participation agreements covering standby and commercial letters of credit | 145 | $ 145 | 136 | ||
Standby and commercial letters of credit | 3,300 | 3,300 | 3,300 | ||
Carrying value of standby and commercial letters of credit included in accrued expenses and other liabilities | 32 | 32 | 34 | ||
Deferred fees on standby and commercial letters of credit included in accrued expenses and other liabilities | 25 | 25 | 28 | ||
Allowance for credit losses on lending-related commitments, amount related to standby and commercial letters of credit | 7 | 7 | 6 | ||
Notional amount of derivative credit risk participation agreements | 720 | 720 | 703 | ||
Maximum estimated exposure to credit risk participation agreements assuming 100% default | $ 21 | $ 21 | $ 7 | ||
Weighted average remaining maturity of credit risk participation agreements, in years | 3 years 4 months 24 days |
Derivative And Credit-Related Financial Instruments (Schedule Of Derivative Instruments) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
|||||
---|---|---|---|---|---|---|---|
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | $ 26,638 | $ 21,557 | ||||
Fair Value of Gross Derivative Assets | 350 | 275 | |||||
Fair Value of Gross Derivative Liabilities | 171 | 269 | |||||
Derivative assets, Netting adjustment - Offsetting derivative liabilities | (60) | (45) | |||||
Derivative liabilities, Netting adjustment - Offsetting derivative assets | (60) | (45) | |||||
Derivative assets, Netting adjustment - Cash collateral received | (51) | (174) | |||||
Derivative liabilities, Netting adjustment, Cash collateral posted | (9) | (1) | |||||
Net derivative assets included in the consolidated balance sheets | [2] | 239 | 56 | ||||
Net derivative liabilities included in the consolidated balance sheets | [2] | 102 | 223 | ||||
Derivative asset, securities pledged as collateral | (1) | (1) | |||||
Derivative liability, securities pledged as collateral | (20) | 0 | |||||
Net derivative assets after deducting amounts not offset in the consolidated balance sheets | 238 | 55 | |||||
Net derivative liabilities after deducting amounts not offset in the consolidated balance sheets | 82 | 223 | |||||
Credit valuation adjustments for counterparty credit risk | 7 | 2 | |||||
Risk management purposes | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 5,779 | 2,927 | ||||
Fair Value of Gross Derivative Assets | 0 | 1 | |||||
Fair Value of Gross Derivative Liabilities | 1 | 3 | |||||
Risk management purposes | Derivatives designated as hedging instruments | Fair Value Hedging | Interest rate swap | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 2,625 | 2,625 | ||||
Fair Value of Gross Derivative Assets | 0 | 0 | |||||
Fair Value of Gross Derivative Liabilities | 0 | 2 | |||||
Risk management purposes | Derivatives designated as hedging instruments | Swaps - cash flow - receive fixed/pay floating rate | Interest rate swap | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 2,800 | 0 | ||||
Fair Value of Gross Derivative Assets | 0 | 0 | |||||
Fair Value of Gross Derivative Liabilities | 0 | 0 | |||||
Risk management purposes | Derivatives used as economic hedges | Foreign exchange spot, forwards and swaps | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 354 | 302 | ||||
Fair Value of Gross Derivative Assets | 0 | 1 | |||||
Fair Value of Gross Derivative Liabilities | 1 | 1 | |||||
Customer-initiated and other activities | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 20,859 | 18,630 | ||||
Fair Value of Gross Derivative Assets | 350 | 274 | |||||
Fair Value of Gross Derivative Liabilities | 170 | 266 | |||||
Customer-initiated and other activities | Interest rate contracts | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 16,333 | 14,885 | ||||
Fair Value of Gross Derivative Assets | 210 | 67 | |||||
Fair Value of Gross Derivative Liabilities | 36 | 68 | |||||
Customer-initiated and other activities | Interest rate caps and floors written | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 1,014 | 885 | ||||
Fair Value of Gross Derivative Assets | 0 | 0 | |||||
Fair Value of Gross Derivative Liabilities | 1 | 1 | |||||
Customer-initiated and other activities | Interest rate caps and floors purchased | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 1,014 | 885 | ||||
Fair Value of Gross Derivative Assets | 1 | 1 | |||||
Fair Value of Gross Derivative Liabilities | 0 | 0 | |||||
Customer-initiated and other activities | Interest rate swap | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 14,305 | 13,115 | ||||
Fair Value of Gross Derivative Assets | 209 | 66 | |||||
Fair Value of Gross Derivative Liabilities | 35 | 67 | |||||
Customer-initiated and other activities | Energy contracts | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 3,097 | 2,650 | ||||
Fair Value of Gross Derivative Assets | 129 | 189 | |||||
Fair Value of Gross Derivative Liabilities | 125 | 186 | |||||
Customer-initiated and other activities | Energy caps and floors written | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 431 | 278 | ||||
Fair Value of Gross Derivative Assets | 0 | 0 | |||||
Fair Value of Gross Derivative Liabilities | 24 | 26 | |||||
Customer-initiated and other activities | Energy caps and floors purchased | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 431 | 278 | ||||
Fair Value of Gross Derivative Assets | 24 | 26 | |||||
Fair Value of Gross Derivative Liabilities | 0 | 0 | |||||
Customer-initiated and other activities | Energy swaps | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 2,235 | 2,094 | ||||
Fair Value of Gross Derivative Assets | 105 | 163 | |||||
Fair Value of Gross Derivative Liabilities | 101 | 160 | |||||
Customer-initiated and other activities | Foreign exchange spot, options and swaps | |||||||
Derivatives, Fair Value [Line Items] | |||||||
Notional/Contract Amount | [1] | 1,429 | 1,095 | ||||
Fair Value of Gross Derivative Assets | 11 | 18 | |||||
Fair Value of Gross Derivative Liabilities | $ 9 | $ 12 | |||||
|
Derivative And Credit-Related Financial Instruments Derivative and Credit-Related Financial Instruments (Schedule of the Effects of Fair Value Hedging on the Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|||
Total interest on medium- and long-term debt | [1] | $ 51 | $ 32 | $ 102 | $ 57 | |
Swaps - fair value - receive fixed/pay floating | Risk management purposes | Interest rate swap | ||||||
Interest rate contract: Hedge items interest expense | 26 | 15 | 52 | 30 | ||
Interest rate contracts: Derivatives designated as hedging instruments net interest income | $ 0 | $ (2) | $ 1 | $ (5) | ||
|
Derivative And Credit-Related Financial Instruments (Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Interest Rate Swaps) (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Dec. 31, 2018 |
||||||||
Notional Amount | [1] | $ 26,638 | $ 21,557 | ||||||
Cumulative hedging adjustments | 146 | 49 | |||||||
Cumulative hedging adjustments on discontinued hedging relationship | 7 | 8 | |||||||
Risk management purposes | |||||||||
Notional Amount | [1] | 5,779 | 2,927 | ||||||
Variable rate loans | Swaps - cash flow - receive fixed/pay floating rate | Risk management purposes | Cash flow swap | |||||||||
Notional Amount | 2,800 | ||||||||
Carrying Value of Hedged Item | |||||||||
Weighted Average Remaining Maturity | 3 years 1 month 6 days | ||||||||
Weighted Average Receive Rate | 2.23% | ||||||||
Weighted Average Pay Rate | [2] | 2.44% | |||||||
Medium- and long-term debt | Swaps - fair value - receive fixed/pay floating | Risk management purposes | Interest rate swap | |||||||||
Notional Amount | $ 2,625 | 2,625 | |||||||
Carrying Value of Hedged Item | [3] | $ 2,758 | $ 2,663 | ||||||
Weighted Average Remaining Maturity | 4 years 8 months 12 days | 3 years 10 months 24 days | |||||||
Weighted Average Receive Rate | 3.65% | 3.40% | |||||||
Weighted Average Pay Rate | [2] | 3.46% | 3.45% | ||||||
|
Derivative And Credit-Related Financial Instruments (Schedule Of Net Gains Recognized In Income On Customer-Initiated Derivatives) (Details) - Customer-initiated and other activities - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net derivative gain recognized in income | $ 19 | $ 19 | $ 37 | $ 35 |
Interest rate contracts | Other noninterest income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net derivative gain recognized in income | 6 | 7 | 12 | 11 |
Energy contracts | Other noninterest income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net derivative gain recognized in income | 2 | 0 | 3 | 0 |
Foreign exchange contracts | Foreign exchange income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net derivative gain recognized in income | $ 11 | $ 12 | $ 22 | $ 24 |
Derivative And Credit-Related Financial Instruments (Schedule Of Financial Instruments With Off-Balance Sheet Credit Risk) (Details) - Maximum - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Unused Commitments to Extend Credit | ||
Loss contingency, estimate of possible loss, maximum | $ (26,596) | $ (27,267) |
Commercial And Other | Unused Commitments to Extend Credit | ||
Loss contingency, estimate of possible loss, maximum | (23,440) | (24,266) |
Bankcard, Revolving Check Credit And Home Equity Loan Commitments | Unused Commitments to Extend Credit | ||
Loss contingency, estimate of possible loss, maximum | (3,156) | (3,001) |
Standby Letters Of Credit | ||
Loss contingency, estimate of possible loss, maximum | (3,233) | (3,244) |
Commercial Letters Of Credit | ||
Loss contingency, estimate of possible loss, maximum | $ (25) | $ (39) |
Derivative And Credit-Related Financial Instruments (Summary Of Internally Classified Watch List Letters Of Credit) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Total criticized standby and commercial letters of credit | $ 45 | $ 49 |
As a percentage of total outstanding standby and commercial letters of credit | 1.40% | 1.50% |
Variable Interest Entities (VIEs) (Narrative) (Details) - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Variable Interest Entity | ||
Unfunded commitments to fund tax credit entities | $ 166 | |
Amount of financial or other support not contractually required provided by the Corporation to VIEs | 0 | $ 0 |
Low Income Housing Tax Credit Entities | ||
Variable Interest Entity | ||
Exposure to loss as a result of involvement with VIEs | 437 | |
Other Tax Credit Entities | ||
Variable Interest Entity | ||
Exposure to loss as a result of involvement with VIEs | $ 6 |
Variable Interest Entities (VIEs) (Impact Of VIEs On The Consolidated Statements Of Comprehensive Income) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Variable Interest Entity | ||||
Other noninterest income | $ 22 | $ 22 | $ 47 | $ 44 |
Provision for income taxes | 87 | 93 | 172 | 147 |
Variable Interest Entity | ||||
Variable Interest Entity | ||||
Other noninterest income | 0 | 1 | 1 | 2 |
Provision for income taxes | (2) | (3) | (5) | (6) |
Variable Interest Entity | Low income housing tax credits | ||||
Variable Interest Entity | ||||
Provision for income taxes, amortization of LIHTC investments | 17 | 16 | 32 | 31 |
Provision for income taxes, affordable housing tax credits and other tax benefits | (15) | (15) | (30) | (30) |
Variable Interest Entity | Other tax benefits related to tax credit entities | ||||
Variable Interest Entity | ||||
Provision for income taxes, affordable housing tax credits and other tax benefits | $ (4) | $ (4) | $ (7) | $ (7) |
Medium- And Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions |
Jun. 30, 2019 |
Feb. 01, 2019 |
Dec. 31, 2018 |
||||
---|---|---|---|---|---|---|---|
Debt Instrument [Line Items] | |||||||
Unamortized debt issuance cost | $ 9 | $ 8 | |||||
Parent Company [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Other Long-term Debt | 1,259 | 1,209 | |||||
Subsidiaries | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Federal Home Loan Bank Advances | 3,800 | 3,800 | |||||
Real estate-related loans securing FHLB advances | 17,000 | ||||||
Potential FHLB borrowing capacity | 4,100 | ||||||
Floating-rate based on FHLB auction rate due 2026 | Subsidiaries | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Federal Home Loan Bank Advances | $ 2,800 | 2,800 | |||||
Weighted-average interest rate | 2.41% | ||||||
Floating-rate based on FHLB auction rate due 2028 | Subsidiaries | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Federal Home Loan Bank Advances | $ 1,000 | 1,000 | |||||
Weighted-average interest rate | 2.61% | ||||||
4.00% Notes Due 2029 | Parent Company [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Other Long-term Debt | $ 372 | [1] | $ 350 | $ 0 | [1] | ||
Stated interest rate | 4.00% | 4.00% | |||||
|
Medium- And Long-Term Debt (Schedule Of Medium- And Long-Term Debt) (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Dec. 31, 2018 |
Feb. 01, 2019 |
||||||
Debt Instrument [Line Items] | ||||||||
Total medium- and long-term debt | $ 6,558 | $ 6,463 | ||||||
Parent Company | ||||||||
Debt Instrument [Line Items] | ||||||||
Medium-term notes | 1,259 | 1,209 | ||||||
Total medium- and long-term debt | 1,523 | 1,459 | ||||||
Subsidiaries | ||||||||
Debt Instrument [Line Items] | ||||||||
Subordinated notes | 564 | 541 | ||||||
Long-term Federal Home Loan Bank Advances | 3,800 | 3,800 | ||||||
Total medium- and long-term debt | 5,035 | 5,004 | ||||||
3.80% subordinated notes due 2026 | Parent Company | ||||||||
Debt Instrument [Line Items] | ||||||||
Subordinated notes | [1] | $ 264 | $ 250 | |||||
Stated interest rate | 3.80% | 3.80% | ||||||
Maturity date | Jul. 22, 2026 | Jul. 22, 2026 | ||||||
2.125% notes due 2019 | Parent Company | ||||||||
Debt Instrument [Line Items] | ||||||||
Medium-term notes | [1] | $ 0 | $ 348 | |||||
Stated interest rate | 2.125% | 2.125% | ||||||
Maturity date | May 23, 2019 | May 23, 2019 | ||||||
3.70% Notes Due 2023 | Parent Company | ||||||||
Debt Instrument [Line Items] | ||||||||
Medium-term notes | [1] | $ 887 | $ 861 | |||||
Stated interest rate | 3.70% | 3.70% | ||||||
Maturity date | Jul. 31, 2023 | Jul. 31, 2023 | ||||||
4.00% Notes Due 2029 | Parent Company | ||||||||
Debt Instrument [Line Items] | ||||||||
Medium-term notes | $ 372 | [1] | $ 0 | [1] | $ 350 | |||
Stated interest rate | 4.00% | 4.00% | ||||||
Maturity date | Feb. 01, 2029 | |||||||
4.00% subordinated notes due 2025 | Subsidiaries | ||||||||
Debt Instrument [Line Items] | ||||||||
Subordinated notes | [1] | $ 359 | $ 343 | |||||
Stated interest rate | 4.00% | 4.00% | ||||||
Maturity date | Jul. 27, 2025 | Jul. 27, 2025 | ||||||
7.875% subordinated notes due 2026 | Subsidiaries | ||||||||
Debt Instrument [Line Items] | ||||||||
Subordinated notes | [1] | $ 205 | $ 198 | |||||
Stated interest rate | 7.875% | 7.875% | ||||||
Maturity date | Sep. 15, 2026 | Sep. 15, 2026 | ||||||
2.50% notes due 2020 | Subsidiaries | ||||||||
Debt Instrument [Line Items] | ||||||||
Medium-term notes | [1] | $ 671 | $ 663 | |||||
Stated interest rate | 2.50% | 2.50% | ||||||
Maturity date | Jun. 02, 2020 | Jun. 02, 2020 | ||||||
Floating-rate based on FHLB auction rate due 2026 | Subsidiaries | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Federal Home Loan Bank Advances | $ 2,800 | $ 2,800 | ||||||
Weighted-average interest rate | 2.41% | |||||||
Floating-rate based on FHLB auction rate due 2026 | Subsidiaries | Maximum | ||||||||
Debt Instrument [Line Items] | ||||||||
Maturity date | May 20, 2026 | |||||||
Floating-rate based on FHLB auction rate due 2026 | Subsidiaries | Minimum | ||||||||
Debt Instrument [Line Items] | ||||||||
Maturity date | Mar. 04, 2026 | |||||||
Floating-rate based on FHLB auction rate due 2028 | Subsidiaries | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Federal Home Loan Bank Advances | $ 1,000 | $ 1,000 | ||||||
Maturity date | Jan. 26, 2028 | |||||||
Weighted-average interest rate | 2.61% | |||||||
|
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions |
6 Months Ended | ||||
---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Dec. 31, 2018 |
|||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Investment securities, Balance at beginning of period, net of tax | $ (138) | $ (101) | |||
Cumulative effect of change in accounting principle | 0 | 1 | |||
Investment securities, Net unrealized holding (losses) gains arising during the period | 229 | (197) | |||
Investment securities, Less: (Benefit) provision for income taxes | 54 | (46) | |||
Investment securities, Net unrealized holding (losses) gains arising during the period, net of tax | 175 | (151) | |||
Investment securities, Net realized (losses) gains included in net securities (losses) gains | (8) | 0 | |||
Investment securities, Less: Benefit for income taxes | (2) | 0 | |||
Investment Securities, Reclassification adjustment for net securities (losses) gains included in net income, net of tax | (6) | 0 | |||
Investment securities, Reclassification adjustment for net securities (losses) gains included in net income, net of tax | 181 | (151) | |||
Investment securities, Balance at end of period, net of tax | 43 | (251) | |||
Cash flow hedges, Balance at beginning of period, net of tax | 0 | 0 | |||
Cash flow hedge: Net gains arising during the period | 51 | 0 | |||
Cash flow hedges, Less: Provision for income tax | 12 | 0 | |||
Change in net cash flow hedge gains arising during the period, net of tax | 39 | 0 | |||
Net cash flow hedge losses included in interest and fees on loans | (1) | 0 | |||
Cash flows hedges, Change in net gain on cash flow hedges | 40 | 0 | |||
Cash flow hedges, Balance at end of period, net of tax | [1] | 40 | 0 | ||
Benefit plans, Balance at beginning of period, net of tax | (471) | (350) | |||
Benefit plans, Amortization of actuarial net loss | 21 | 30 | |||
Benefit plans, Amortization of prior service credit | (13) | (14) | |||
Benefit plans, Amounts recognized in other noninterest expense | 8 | 16 | |||
Benefit plans, Less: Provision for income taxes | 2 | 4 | |||
Benefit plans, Change in defined benefit pension and other postretirement plans adjustment, net of tax | 6 | 12 | |||
Benefit plans, Balance at end of period, net of tax | (465) | (338) | |||
Total accumulated other comprehensive loss at end of period, net of tax | $ (382) | $ (589) | $ (609) | ||
|
Net Income Per Share (Basic And Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Earnings Per Share [Abstract] | ||||
Net income | $ 298 | $ 326 | $ 637 | $ 607 |
Income allocated to participating securities | 1 | 2 | 3 | 4 |
Net income attributable to shares | $ 297 | $ 324 | $ 634 | $ 603 |
Basic average shares | 152 | 171 | 155 | 171 |
Basic net income per share | $ 1.95 | $ 1.90 | $ 4.10 | $ 3.52 |
Basic average shares | 152 | 171 | 155 | 171 |
Net effect of the assumed exercise of stock options | 1 | 2 | 1 | 2 |
Net effect of the assumed exercise of warrants | 0 | 1 | 0 | 1 |
Diluted average shares | 153 | 174 | 156 | 174 |
Diluted net income per share | $ 1.94 | $ 1.87 | $ 4.06 | $ 3.46 |
Net Income Per Share (Schedule of Average Shares Excluded From Diluted Net Income Per Share Computation) (Details) - Stock Options - $ / shares |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Average outstanding options | 470,162 | 0 | 446,610 | 0 |
Minimum | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Range of exercise prices | $ 79.01 | $ 0.00 | $ 79.01 | $ 0.00 |
Maximum | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Range of exercise prices | $ 95.25 | $ 0.00 | $ 95.25 | $ 0.00 |
Employee Benefit Plans Employee Benefit Plans (Net Periodic Defined Benefit Cost) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic defined benefit (credit) cost | $ (14) | $ (10) | ||
Qualified Defined Benefit Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Total other components of net benefit (credit) cost | $ (17) | $ (15) | (35) | (29) |
Net periodic defined benefit (credit) cost | (10) | (7) | (20) | (14) |
Qualified Defined Benefit Pension Plan | Component recognized in salaries and benefits expense | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 7 | 8 | 15 | 15 |
Qualified Defined Benefit Pension Plan | Component recognized in noninterest expense | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest Cost | 20 | 18 | 40 | 37 |
Expected return on plan assets | (41) | (41) | (83) | (82) |
Amortization of prior service credit | (4) | (4) | (9) | (9) |
Amortization of net loss | 8 | 12 | 17 | 25 |
Non-Qualified Defined Benefit Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Total other components of net benefit (credit) cost | 2 | 2 | 4 | 4 |
Net periodic defined benefit (credit) cost | 3 | 3 | 6 | 5 |
Non-Qualified Defined Benefit Pension Plan | Component recognized in salaries and benefits expense | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 2 | 1 |
Non-Qualified Defined Benefit Pension Plan | Component recognized in noninterest expense | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest Cost | 2 | 2 | 4 | 4 |
Amortization of prior service credit | (2) | (3) | (4) | (5) |
Amortization of net loss | (2) | (3) | (4) | (5) |
Postretirement Benefit Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic defined benefit (credit) cost | 0 | 1 | 0 | 1 |
Postretirement Benefit Plan | Component recognized in noninterest expense | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest Cost | 0 | 0 | 1 | 1 |
Expected return on plan assets | $ 0 | $ (1) | $ (1) | $ (2) |
Income Taxes And Tax-Related Items Income Taxes And Tax-Related Items (Narrative) (Details) - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2019 |
Dec. 31, 2018 |
|
Unrecognized tax benefits | $ 15 | $ 14 |
Reasonably possible decrease in unrecognized tax benefits in next 12 months | 1 | |
Tax-related interest and penalties payable | 7 | 7 |
Net deferred tax assets | 104 | 166 |
Decrease in net deferred tax assets | 62 | |
State net operating loss carryforwards | 4 | 4 |
Valuation allowance for deferred tax assets | $ 3 | $ 3 |
Minimum | ||
Years state net operating loss carryforwards expire | Dec. 31, 2019 | |
Maximum | ||
Years state net operating loss carryforwards expire | Dec. 31, 2028 |
Contingent Liabilities (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jan. 17, 2014 |
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
Loss Contingencies [Line Items] | |||||
Legal fees | $ 4 | $ 4 | $ 5 | $ 7 | |
Pending Litigation | Minimum | |||||
Loss Contingencies [Line Items] | |||||
Loss contingency, estimate of possible loss | 0 | 0 | |||
Pending Litigation | Maximum | |||||
Loss Contingencies [Line Items] | |||||
Loss contingency, estimate of possible loss | $ 35 | $ 35 | |||
Butte Local Development v. Masters Group v. Comerica Bank | |||||
Loss Contingencies [Line Items] | |||||
Amount of damages awarded by the jury | $ 52 |
Business Segment Information (Narrative) (Details) |
6 Months Ended |
---|---|
Jun. 30, 2019
segments
markets
| |
Segment Reporting [Abstract] | |
Number of Major Business Segments | segments | 3 |
Number of Primary Market Segments | markets | 3 |
Business Segment Information (Business Segment Financial Results) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|||||||||||||
Net interest income (expense) | $ 603 | $ 590 | $ 1,209 | $ 1,139 | ||||||||||||
Provision for credit losses | 44 | (29) | 31 | (17) | ||||||||||||
Noninterest income | 250 | 248 | 488 | 492 | ||||||||||||
Noninterest expenses | 424 | 448 | 857 | 894 | ||||||||||||
Provision (benefit) for income taxes | 87 | 93 | 172 | 147 | ||||||||||||
Net income (loss) | 298 | 326 | 637 | 607 | ||||||||||||
Net credit-related charge-offs (recoveries) | 33 | (3) | 44 | 25 | ||||||||||||
Assets, average | 71,252 | 70,520 | 70,515 | 70,423 | ||||||||||||
Loans, average | 50,963 | 49,225 | 50,323 | 48,825 | ||||||||||||
Deposits, average | $ 54,995 | $ 55,830 | $ 54,498 | $ 55,959 | ||||||||||||
Return on average assets | [1] | 1.68% | 1.85% | 1.82% | 1.74% | |||||||||||
Efficiency ratio | [2] | 49.65% | 53.24% | 50.23% | 54.74% | |||||||||||
Discrete tax benefits | $ 3 | $ 11 | $ 25 | |||||||||||||
Business Bank | ||||||||||||||||
Net interest income (expense) | $ 420 | 405 | 832 | 786 | ||||||||||||
Provision for credit losses | 52 | (25) | 46 | (9) | ||||||||||||
Noninterest income | 136 | 135 | 272 | 266 | ||||||||||||
Noninterest expenses | 195 | 211 | 393 | 424 | ||||||||||||
Provision (benefit) for income taxes | 71 | 81 | 153 | 146 | ||||||||||||
Net income (loss) | 238 | 273 | 512 | 491 | ||||||||||||
Net credit-related charge-offs (recoveries) | 35 | (4) | 47 | 26 | ||||||||||||
Assets, average | 45,321 | 43,740 | 44,619 | 43,226 | ||||||||||||
Loans, average | 43,926 | 42,041 | 43,236 | 41,574 | ||||||||||||
Deposits, average | $ 28,251 | $ 29,735 | $ 28,356 | $ 30,107 | ||||||||||||
Return on average assets | [1] | 2.11% | 2.50% | 2.31% | 2.29% | |||||||||||
Efficiency ratio | [2] | 34.98% | 39.12% | 35.61% | 40.30% | |||||||||||
Retail Bank | ||||||||||||||||
Net interest income (expense) | $ 146 | $ 135 | $ 292 | $ 262 | ||||||||||||
Provision for credit losses | 1 | (1) | (3) | (3) | ||||||||||||
Noninterest income | 33 | 32 | 64 | 65 | ||||||||||||
Noninterest expenses | 147 | 149 | 292 | 297 | ||||||||||||
Provision (benefit) for income taxes | 7 | 4 | 16 | 7 | ||||||||||||
Net income (loss) | 24 | 15 | 51 | 26 | ||||||||||||
Net credit-related charge-offs (recoveries) | 0 | 0 | 0 | 0 | ||||||||||||
Assets, average | 2,839 | 2,633 | 2,826 | 2,632 | ||||||||||||
Loans, average | 2,107 | 2,057 | 2,105 | 2,065 | ||||||||||||
Deposits, average | $ 20,649 | $ 21,008 | $ 20,560 | $ 20,951 | ||||||||||||
Return on average assets | [1] | 0.44% | 0.28% | 0.49% | 0.24% | |||||||||||
Efficiency ratio | [2] | 82.26% | 87.84% | 81.80% | 90.14% | |||||||||||
Wealth Management | ||||||||||||||||
Net interest income (expense) | $ 46 | $ 44 | $ 93 | $ 87 | ||||||||||||
Provision for credit losses | (5) | 1 | (10) | (3) | ||||||||||||
Noninterest income | 68 | 67 | 132 | 135 | ||||||||||||
Noninterest expenses | 67 | 75 | 139 | 146 | ||||||||||||
Provision (benefit) for income taxes | 13 | 8 | 23 | 19 | ||||||||||||
Net income (loss) | 39 | 27 | 73 | 60 | ||||||||||||
Net credit-related charge-offs (recoveries) | (2) | 1 | (3) | (1) | ||||||||||||
Assets, average | 5,071 | 5,260 | 5,122 | 5,316 | ||||||||||||
Loans, average | 4,930 | 5,127 | 4,982 | 5,186 | ||||||||||||
Deposits, average | $ 3,740 | $ 3,852 | $ 3,770 | $ 3,824 | ||||||||||||
Return on average assets | [1] | 3.10% | 2.10% | 2.88% | 2.26% | |||||||||||
Efficiency ratio | [2] | 58.99% | 66.81% | 61.67% | 66.31% | |||||||||||
Finance | ||||||||||||||||
Net interest income (expense) | $ (24) | $ (7) | $ (39) | $ (21) | ||||||||||||
Provision for credit losses | 0 | 0 | 0 | 0 | ||||||||||||
Noninterest income | 14 | 12 | 18 | 23 | ||||||||||||
Noninterest expenses | 0 | (1) | 0 | (2) | ||||||||||||
Provision (benefit) for income taxes | (4) | (2) | (8) | (5) | ||||||||||||
Net income (loss) | (6) | 8 | (13) | 9 | ||||||||||||
Net credit-related charge-offs (recoveries) | 0 | 0 | 0 | 0 | ||||||||||||
Assets, average | 14,242 | 13,735 | 14,077 | 13,757 | ||||||||||||
Loans, average | 0 | 0 | 0 | 0 | ||||||||||||
Deposits, average | 2,174 | 1,093 | 1,655 | 959 | ||||||||||||
Other | ||||||||||||||||
Net interest income (expense) | 15 | 13 | 31 | 25 | ||||||||||||
Provision for credit losses | (4) | (4) | (2) | (2) | ||||||||||||
Noninterest income | (1) | 2 | 2 | 3 | ||||||||||||
Noninterest expenses | 15 | 14 | 33 | 29 | ||||||||||||
Provision (benefit) for income taxes | 0 | 2 | [3] | (12) | [4] | (20) | [4] | |||||||||
Net income (loss) | 3 | 3 | 14 | 21 | ||||||||||||
Net credit-related charge-offs (recoveries) | 0 | 0 | 0 | 0 | ||||||||||||
Assets, average | 3,779 | 5,152 | 3,871 | 5,492 | ||||||||||||
Loans, average | 0 | 0 | 0 | 0 | ||||||||||||
Deposits, average | $ 181 | $ 142 | $ 157 | $ 118 | ||||||||||||
|
Business Segment Information (Market Segment Financial Results) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||||||||||||
Net interest income (expense) | $ 603 | $ 590 | $ 1,209 | $ 1,139 | |||||||||||||
Provision for credit losses | 44 | (29) | 31 | (17) | |||||||||||||
Noninterest income | 250 | 248 | 488 | 492 | |||||||||||||
Noninterest expenses | 424 | 448 | 857 | 894 | |||||||||||||
Provision (benefit) for income taxes | 87 | 93 | 172 | 147 | |||||||||||||
Net income (loss) | 298 | 326 | 637 | 607 | |||||||||||||
Net credit-related charge-offs (recoveries) | 33 | (3) | 44 | 25 | |||||||||||||
Assets, average | 71,252 | 70,520 | 70,515 | 70,423 | |||||||||||||
Loans, average | 50,963 | 49,225 | 50,323 | 48,825 | |||||||||||||
Deposits, average | $ 54,995 | $ 55,830 | $ 54,498 | $ 55,959 | |||||||||||||
Return on average assets | [1] | 1.68% | 1.85% | 1.82% | 1.74% | ||||||||||||
Efficiency ratio | [2] | 49.65% | 53.24% | 50.23% | 54.74% | ||||||||||||
Discrete tax benefits | $ 3 | $ 11 | $ 25 | ||||||||||||||
Michigan | |||||||||||||||||
Net interest income (expense) | $ 186 | 181 | 372 | 355 | |||||||||||||
Provision for credit losses | (10) | 0 | (5) | 34 | |||||||||||||
Noninterest income | 72 | 72 | 144 | 146 | |||||||||||||
Noninterest expenses | 134 | 144 | 273 | 288 | |||||||||||||
Provision (benefit) for income taxes | 30 | 25 | 56 | 42 | |||||||||||||
Net income (loss) | 104 | 84 | 192 | 137 | |||||||||||||
Net credit-related charge-offs (recoveries) | 0 | 0 | 4 | (1) | |||||||||||||
Assets, average | 13,239 | 13,426 | 13,157 | 13,411 | |||||||||||||
Loans, average | 12,704 | 12,640 | 12,631 | 12,622 | |||||||||||||
Deposits, average | $ 19,816 | $ 20,902 | $ 19,854 | $ 21,062 | |||||||||||||
Return on average assets | [1] | 2.01% | 1.55% | 1.89% | 1.26% | ||||||||||||
Efficiency ratio | [2] | 52.04% | 56.50% | 52.85% | 57.31% | ||||||||||||
California | |||||||||||||||||
Net interest income (expense) | $ 208 | $ 194 | $ 413 | $ 382 | |||||||||||||
Provision for credit losses | (4) | (9) | (5) | (11) | |||||||||||||
Noninterest income | 40 | 42 | 80 | 81 | |||||||||||||
Noninterest expenses | 99 | 105 | 199 | 210 | |||||||||||||
Provision (benefit) for income taxes | 39 | 35 | 76 | 67 | |||||||||||||
Net income (loss) | 114 | 105 | 223 | 197 | |||||||||||||
Net credit-related charge-offs (recoveries) | 7 | 1 | 4 | 13 | |||||||||||||
Assets, average | 19,228 | 18,696 | 19,138 | 18,639 | |||||||||||||
Loans, average | 18,928 | 18,435 | 18,848 | 18,391 | |||||||||||||
Deposits, average | $ 16,325 | $ 16,642 | $ 16,285 | $ 16,865 | |||||||||||||
Return on average assets | [1] | 2.37% | 2.25% | 2.35% | 2.12% | ||||||||||||
Efficiency ratio | [2] | 39.96% | 44.49% | 40.41% | 45.63% | ||||||||||||
Texas | |||||||||||||||||
Net interest income (expense) | $ 124 | $ 122 | $ 247 | $ 233 | |||||||||||||
Provision for credit losses | 49 | (15) | 38 | (28) | |||||||||||||
Noninterest income | 34 | 30 | 66 | 61 | |||||||||||||
Noninterest expenses | 84 | 92 | 169 | 184 | |||||||||||||
Provision (benefit) for income taxes | 6 | 17 | 25 | 32 | |||||||||||||
Net income (loss) | 19 | 58 | 81 | 106 | |||||||||||||
Net credit-related charge-offs (recoveries) | 26 | 2 | 39 | 8 | |||||||||||||
Assets, average | 11,349 | 10,439 | 11,136 | 10,406 | |||||||||||||
Loans, average | 10,692 | 9,862 | 10,482 | 9,846 | |||||||||||||
Deposits, average | $ 8,670 | $ 8,967 | $ 8,684 | $ 9,077 | |||||||||||||
Return on average assets | [1] | 0.69% | 2.22% | 1.48% | 2.06% | ||||||||||||
Efficiency ratio | [2] | 52.86% | 60.22% | 53.73% | 62.41% | ||||||||||||
Other Markets | |||||||||||||||||
Net interest income (expense) | $ 94 | $ 87 | $ 185 | $ 165 | |||||||||||||
Provision for credit losses | 13 | (1) | 5 | (10) | |||||||||||||
Noninterest income | 91 | 90 | 178 | 178 | |||||||||||||
Noninterest expenses | 92 | 94 | 183 | 185 | |||||||||||||
Provision (benefit) for income taxes | 16 | 16 | 35 | 31 | |||||||||||||
Net income (loss) | 64 | 68 | 140 | 137 | |||||||||||||
Net credit-related charge-offs (recoveries) | 0 | (6) | (3) | 5 | |||||||||||||
Assets, average | 9,415 | 9,072 | 9,135 | 8,718 | |||||||||||||
Loans, average | 8,639 | 8,288 | 8,362 | 7,966 | |||||||||||||
Deposits, average | $ 7,829 | $ 8,084 | $ 7,863 | $ 7,878 | |||||||||||||
Return on average assets | [1] | 2.76% | 3.03% | 3.09% | 3.17% | ||||||||||||
Efficiency ratio | [2] | 49.56% | 52.81% | 50.46% | 53.86% | ||||||||||||
Finance & Other | |||||||||||||||||
Net interest income (expense) | $ (9) | $ 6 | $ (8) | $ 4 | |||||||||||||
Provision for credit losses | (4) | (4) | (2) | (2) | |||||||||||||
Noninterest income | 13 | 14 | 20 | 26 | |||||||||||||
Noninterest expenses | 15 | 13 | 33 | 27 | |||||||||||||
Provision (benefit) for income taxes | (4) | [3] | 0 | [3] | (20) | [4] | (25) | [4] | |||||||||
Net income (loss) | (3) | 11 | 1 | 30 | |||||||||||||
Net credit-related charge-offs (recoveries) | 0 | 0 | 0 | 0 | |||||||||||||
Assets, average | 18,021 | 18,887 | 17,949 | 19,249 | |||||||||||||
Loans, average | 0 | 0 | 0 | 0 | |||||||||||||
Deposits, average | $ 2,355 | $ 1,235 | $ 1,812 | $ 1,077 | |||||||||||||
|
Revenue from Contracts with Customers (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
||||||
Total revenue from contracts with customers | $ 189 | $ 186 | $ 373 | $ 375 | |||||
Other sources of noninterest income | 61 | 62 | 115 | 117 | |||||
Total noninterest income | 250 | 248 | 488 | 492 | |||||
Business Bank | |||||||||
Total revenue from contracts with customers | 93 | 90 | 185 | 182 | |||||
Other sources of noninterest income | 43 | 45 | 87 | 84 | |||||
Total noninterest income | 136 | 135 | 272 | 266 | |||||
Retail Bank | |||||||||
Total revenue from contracts with customers | 31 | 30 | 60 | 62 | |||||
Other sources of noninterest income | 2 | 2 | 4 | 3 | |||||
Total noninterest income | 33 | 32 | 64 | 65 | |||||
Wealth Management | |||||||||
Total revenue from contracts with customers | 65 | 66 | 128 | 131 | |||||
Other sources of noninterest income | 3 | 1 | 4 | 4 | |||||
Total noninterest income | 68 | 67 | 132 | 135 | |||||
Finance & Other | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Other sources of noninterest income | 13 | 14 | 20 | 26 | |||||
Total noninterest income | 13 | 14 | 20 | 26 | |||||
Credit and Debit Card [Member] | |||||||||
Total revenue from contracts with customers | 65 | 60 | 128 | 119 | |||||
Credit and Debit Card [Member] | Business Bank | |||||||||
Total revenue from contracts with customers | 54 | 50 | 107 | 99 | |||||
Credit and Debit Card [Member] | Retail Bank | |||||||||
Total revenue from contracts with customers | 10 | 9 | 19 | 18 | |||||
Credit and Debit Card [Member] | Wealth Management | |||||||||
Total revenue from contracts with customers | 1 | 1 | 2 | 2 | |||||
Credit and Debit Card [Member] | Finance & Other | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Service charges on deposit accounts | |||||||||
Total revenue from contracts with customers | 51 | 53 | 102 | 107 | |||||
Service charges on deposit accounts | Business Bank | |||||||||
Total revenue from contracts with customers | 33 | 33 | 66 | 68 | |||||
Service charges on deposit accounts | Retail Bank | |||||||||
Total revenue from contracts with customers | 17 | 18 | 34 | 36 | |||||
Service charges on deposit accounts | Wealth Management | |||||||||
Total revenue from contracts with customers | 1 | 2 | 2 | 3 | |||||
Service charges on deposit accounts | Finance & Other | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Fiduciary income | |||||||||
Total revenue from contracts with customers | 52 | 52 | 101 | 104 | |||||
Fiduciary income | Business Bank | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Fiduciary income | Retail Bank | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Fiduciary income | Wealth Management | |||||||||
Total revenue from contracts with customers | 52 | 52 | 101 | 104 | |||||
Fiduciary income | Finance & Other | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Commercial loan servicing fees | |||||||||
Total revenue from contracts with customers | [1] | 4 | 5 | 8 | 9 | ||||
Commercial loan servicing fees | Business Bank | |||||||||
Total revenue from contracts with customers | [1] | 4 | 5 | 8 | 9 | ||||
Commercial loan servicing fees | Retail Bank | |||||||||
Total revenue from contracts with customers | [1] | 0 | 0 | 0 | 0 | ||||
Commercial loan servicing fees | Wealth Management | |||||||||
Total revenue from contracts with customers | [1] | 0 | 0 | 0 | 0 | ||||
Commercial loan servicing fees | Finance & Other | |||||||||
Total revenue from contracts with customers | [1] | 0 | 0 | 0 | 0 | ||||
Brokerage Commissions Revenue [Member] | |||||||||
Total revenue from contracts with customers | 7 | 6 | 14 | 13 | |||||
Brokerage Commissions Revenue [Member] | Business Bank | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Brokerage Commissions Revenue [Member] | Retail Bank | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Brokerage Commissions Revenue [Member] | Wealth Management | |||||||||
Total revenue from contracts with customers | 7 | 6 | 14 | 13 | |||||
Brokerage Commissions Revenue [Member] | Finance & Other | |||||||||
Total revenue from contracts with customers | 0 | 0 | 0 | 0 | |||||
Other noninterest income | |||||||||
Total revenue from contracts with customers | [2] | 10 | 10 | 20 | 23 | ||||
Other noninterest income | Business Bank | |||||||||
Total revenue from contracts with customers | [2] | 2 | 2 | 4 | 6 | ||||
Other noninterest income | Retail Bank | |||||||||
Total revenue from contracts with customers | [2] | 4 | 3 | 7 | 8 | ||||
Other noninterest income | Wealth Management | |||||||||
Total revenue from contracts with customers | [2] | 4 | 5 | 9 | 9 | ||||
Other noninterest income | Finance & Other | |||||||||
Total revenue from contracts with customers | [2] | $ 0 | $ 0 | $ 0 | $ 0 | ||||
|
Leases (Narrative) (Details) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2019
USD ($)
|
|||||
Leases [Abstract] | ||||||
Operating lease expense | $ 16 | $ 31 | ||||
Variable lease expense | 3 | 7 | ||||
Lease expense | 19 | 38 | ||||
Right of use assets | 329 | 329 | ||||
Operating lease liabilities | $ 366 | $ 366 | ||||
Weighted average lease term for lease liabilities | 9 years | 9 years | ||||
Weighted average discount rate of remaining payments | 3.88% | 3.88% | ||||
New Right of Use Assets | $ 26 | |||||
Cash paid on operating lease liabilities | 17 | $ 33 | ||||
Lease-related revenue | 3 | 6 | ||||
Sales-type and Direct Financing Leases, Lease Receivable | $ 360 | [1] | $ 360 | [1] | ||
|
Leases (Contractual Maturities of Operating Lease Liabilities) (Details) $ in Millions |
6 Months Ended | |||
---|---|---|---|---|
Jun. 30, 2019
USD ($)
| ||||
Leases [Abstract] | ||||
2019 | $ 27 | [1] | ||
2020 | 64 | |||
2021 | 58 | |||
2022 | 49 | |||
2023 | 42 | |||
Thereafter | 199 | |||
Total contractual maturities | 439 | |||
Less imputed interest | (73) | |||
Total operating lease liabilities | $ 366 | |||
|
Leases (Contractual Maturities of Sales-Type and Direct Financing Lease Receivables) (Details) $ in Millions |
Jun. 30, 2019
USD ($)
|
|||||
---|---|---|---|---|---|---|
Leases [Abstract] | ||||||
2019 | $ 41 | [1] | ||||
2020 | 64 | |||||
2021 | 52 | |||||
2022 | 88 | |||||
2023 | 43 | |||||
Thereafter | 31 | |||||
Total lease payments receivable | 319 | |||||
Unguaranteed residual values | 63 | |||||
Less deferred interest income | (22) | |||||
Sales-type and Direct Financing Leases, Lease Receivable | $ 360 | [2] | ||||
|
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