Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segment Financial Results

Business segment financial results are as follows:

	Commercial Bank			Retail Bank			Wealth Management			Finance		Other		Total
(dollar amounts in millions)
Three Months Ended June 30, 2020
Earnings summary:
Net interest income (expense)	$	402		$	120		$	40		$	(95)	$	4	$	471
Provision for credit losses	117			5			16			—		—		138
Noninterest income	144			24			66			11		2		247
Noninterest expenses	207			155			73			1		4		440
Provision (benefit) for income taxes	47			(4)			3			(20)		1		27
Net income (loss)	$	175		$	(12)		$	14		$	(65)	$	1	$	113
Net credit-related charge-offs	$	48		$	1		$	1		$	—	$	—	$	50
Selected average balances:
Assets	$	47,392		$	3,306		$	5,191		$	14,500	$	11,255	$	81,644
Loans	45,914			2,479			5,077			—		28		53,498
Deposits	36,318			22,647			4,217			950		150		64,282
Statistical data:
Return on average assets (a)	1.49		%	(0.21)		%	1.00		%	n/m		n/m		0.55		%
Efficiency ratio (b)	37.67			107.15			69.86			n/m		n/m		61.14
Three Months Ended June 30, 2019
Earnings summary:
Net interest income (expense)	$	420		$	146		$	46		$	(23)	$	14	$	603
Provision for credit losses	52			1			(5)			—		(4)		44
Noninterest income	136			33			68			13		—		250
Noninterest expenses	195			147			67			—		15		424
Provision (benefit) for income taxes	71			7			13			(4)		—		87
Net income (loss)	$	238		$	24		$	39		$	(6)	$	3	$	298
Net credit-related charge-offs (recoveries)	$	35		$	—		$	(2)		$	—	$	—	$	33
Selected average balances:
Assets	$	45,321		$	2,839		$	5,071		$	13,907	$	4,114	$	71,252
Loans	43,932			2,107			4,930			—		(6)		50,963
Deposits	28,251			20,649			3,740			2,174		181		54,995
Statistical data:
Return on average assets (a)	2.11		%	0.44		%	3.10		%	n/m		n/m		1.68		%
Efficiency ratio (b)	34.98			82.26			58.99			n/m		n/m		49.65

(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.

n/m – not meaningful

	Commercial Bank			Retail Bank			Wealth Management			Finance		Other		Total
(dollar amounts in millions)
Six Months Ended June 30, 2020
Earnings summary:
Net interest income (expense)	$	782		$	245		$	81		$	(139)	$	15	$	984
Provision for credit losses	513			8			28			—		—		549
Noninterest income	271			52			136			25		—		484
Noninterest expenses	401			304			145			1		14		865
Provision (benefit) for income taxes	27			(4)			9			(28)		2		6
Net income (loss)	$	112		$	(11)		$	35		$	(87)	$	(1)	$	48
Net credit-related charge-offs	$	131		$	2		$	1		$	—	$	—	$	134
Selected average balances:
Assets	$	45,823		$	3,085		$	5,134		$	14,393	$	9,019	$	77,454
Loans	44,253			2,277			5,007			—		14		51,551
Deposits	33,274			21,921			4,120			1,043		166		60,524
Statistical data:
Return on average assets (a)	0.49		%	(0.10)		%	1.34		%	n/m		n/m		0.12		%
Efficiency ratio (b)	38.05			101.41			67.00			n/m		n/m		58.80
Six Months Ended June 30, 2019
Earnings summary:
Net interest income (expense)	$	832		$	292		$	93		$	(37)	$	29	$	1,209
Provision for credit losses	46			(3)			(10)			—		(2)		31
Noninterest income	272			64			132			17		3		488
Noninterest expenses	393			292			139			1		32		857
Provision (benefit) for income taxes	153			16			23			(8)		(12)		172
Net income (loss)	$	512		$	51		$	73		$	(13)	$	14	$	637
Net credit-related charge-offs (recoveries)	$	47		$	—		$	(3)		$	—	$	—	$	44
Selected average balances:
Assets	$	44,619		$	2,826		$	5,121		$	13,747	$	4,202	$	70,515
Loans	43,241			2,105			4,983			—		(6)		50,323
Deposits	28,356			20,560			3,770			1,655		157		54,498
Statistical data:
Return on average assets (a)	2.31		%	0.49		%	2.88		%	n/m		n/m		1.82		%
Efficiency ratio (b)	35.61			81.80			61.67			n/m		n/m		50.23

(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.

n/m – not meaningful

Market Segment Financial Results

Market segment financial results are as follows:

	Michigan			California			Texas			Other Markets			Finance & Other		Total
(dollar amounts in millions)
Three Months Ended June 30, 2020
Earnings summary:
Net interest income (expense)	$	159		$	176		$	116		$	111		$	(91)	$	471
Provision for credit losses	40			51			31			16			—		138
Noninterest income	64			36			30			104			13		247
Noninterest expenses	139			103			91			102			5		440
Provision (benefit) for income taxes	8			13			4			21			(19)		27
Net income (loss)	$	36		$	45		$	20		$	76		$	(64)	$	113
Net credit-related charge-offs	$	—		$	4		$	46		$	—		$	—	$	50
Selected average balances:
Assets	$	13,643		$	18,948		$	11,597		$	11,732		$	25,724	$	81,644
Loans	13,014			18,663			11,184			10,640			(3)		53,498
Deposits	23,460			18,463			10,209			11,050			1,100		64,282
Statistical data:
Return on average assets (a)	0.59		%	0.93		%	0.68		%	2.53		%	n/m		0.55		%
Efficiency ratio (b)	62.08			48.61			61.88			47.41			n/m		61.14
Three Months Ended June 30, 2019
Earnings summary:
Net interest income (expense)	$	186		$	208		$	124		$	94		$	(9)	$	603
Provision for credit losses	(10)			(4)			49			13			(4)		44
Noninterest income	72			40			34			91			13		250
Noninterest expenses	134			99			84			92			15		424
Provision (benefit) for income taxes	30			39			6			16			(4)		87
Net income (loss)	$	104		$	114		$	19		$	64		$	(3)	$	298
Net credit-related charge-offs	$	—		$	7		$	26		$	—		$	—	$	33
Selected average balances:
Assets	$	13,239		$	19,108		$	11,342		$	9,542		$	18,021	$	71,252
Loans	12,704			18,806			10,684			8,775			(6)		50,963
Deposits	19,816			16,314			8,668			7,842			2,355		54,995
Statistical data:
Return on average assets (a)	2.01		%	2.38		%	0.69		%	2.75		%	n/m		1.68		%
Efficiency ratio (b)	52.04			40.07			52.86			49.36			n/m		49.65

(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.

n/m – not meaningful.

	Michigan			California			Texas			Other Markets			Finance & Other		Total
(dollar amounts in millions)
Six Months Ended June 30, 2020
Earnings summary:
Net interest income (expense)	$	322		$	358		$	231		$	197		$	(124)	$	984
Provision for credit losses	64			102			321			62			—		549
Noninterest income	136			72			60			191			25		484
Noninterest expenses	279			201			175			195			15		865
Provision (benefit) for income taxes	23			30			(46)			25			(26)		6
Net income (loss)	$	92		$	97		$	(159)		$	106		$	(88)	$	48
Net credit-related charge-offs	$	3		$	15		$	116		$	—		$	—	$	134
Selected average balances:
Assets	$	13,269		$	18,664		$	11,371		$	10,754		$	23,396	$	77,454
Loans	12,601			18,346			10,870			9,735			(1)		51,551
Deposits	22,104			17,965			9,705			9,541			1,209		60,524
Statistical data:
Return on average assets (a)	0.81		%	1.02		%	(2.82)		%	1.99		%	n/m		0.12		%
Efficiency ratio (b)	60.46			46.77			60.07			50.25			n/m		58.80
Six Months Ended June 30, 2019
Earnings summary:
Net interest income (expense)	$	373		$	411		$	248		$	185		$	(8)	$	1,209
Provision for credit losses	(5)			(5)			38			5			(2)		31
Noninterest income	144			80			66			178			20		488
Noninterest expenses	273			199			169			183			33		857
Provision (benefit) for income taxes	56			76			25			35			(20)		172
Net income	$	193		$	221		$	82		$	140		$	1	$	637
Net credit-related charge-offs (recoveries)	$	4		$	4		$	39		$	(3)		$	—	$	44
Selected average balances:
Assets	$	13,157		$	19,020		$	11,128		$	9,261		$	17,949	$	70,515
Loans	12,631			18,730			10,474			8,494			(6)		50,323
Deposits	19,854			16,276			8,682			7,874			1,812		54,498
Statistical data:
Return on average assets (a)	1.89		%	2.35		%	1.47		%	3.06		%	n/m		1.82		%
Efficiency ratio (b)	52.85			40.49			53.74			50.30			n/m		50.23

(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.

n/m – not meaningful.