Summary of Quarterly Financial Statements (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Financial Statements (Unaudited)

SUMMARY OF QUARTERLY FINANCIAL STATEMENTS (UNAUDITED)

The following quarterly information is unaudited. However, in the opinion of management, the information reflects all adjustments, which are necessary for the fair presentation of the results of operations, for the periods presented.

	2019
(in millions, except per share data)	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Interest income	$	659	$	711	$	727	$	710
Interest expense	115		125		124		104
Net interest income	544		586		603		606
Provision for credit losses	8		35		44		(13		)
Net securities gains (losses)	1		—		—		(8		)
Noninterest income excluding net securities gains (losses)	265		256		250		246
Noninterest expenses	451		435		424		433
Provision for income taxes	82		80		87		85
Net income	269		292		298		339
Less income allocated to participating securities	2		2		1		2
Net income attributable to common shares	$	267	$	290	$	297	$	337
Earnings per common share:
Basic	$	1.87	$	1.98	$	1.95	$	2.14
Diluted	1.85		1.96		1.94		2.11
Comprehensive income	370		338		429		435

	2018
(in millions, except per share data)	Fourth Quarter		Third Quarter			Second Quarter			First Quarter
Interest income	$	704	$	675		$	650		$	590
Interest expense	90		76			60			41
Net interest income	614		599			590			549
Provision for credit losses	16		—			(29		)	12
Net securities (losses) gains	—		(20		)	—			1
Noninterest income excluding net securities (losses) gains	250		254			248			243
Noninterest expenses	448		452			448			446
Provision for income taxes	90		63			93			54
Net income	310		318			326			281
Less income allocated to participating securities	2		2			2			2
Net income attributable to common shares	$	308	$	316		$	324		$	279
Earnings per common share:
Basic	$	1.91	$	1.89		$	1.90		$	1.62
Diluted	1.88		1.86			1.87			1.59
Comprehensive income	312		296			290			178