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Consolidated Statements Of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Interest and fees on loans $ 434 $ 635 $ 951 $ 1,256
Interest on investment securities 74 75 148 147
Interest on short-term investments 3 17 21 34
Total interest income 511 727 1,120 1,437
INTEREST EXPENSE        
Interest on deposits 20 67 76 119
Interest on short-term borrowings 1 6 1 7
Interest on medium- and long-term debt [1] 19 51 59 102
Total interest expense 40 124 136 228
Net interest income 471 603 984 1,209
Provision for credit losses 138 44 549 31
Net interest income after provision for credit losses 333 559 435 1,178
NONINTEREST INCOME        
Card Fees 68 65 127 128
Fiduciary income 52 52 106 101
Service charges on deposit accounts 42 51 91 102
Commercial lending fees 17 21 34 43
Foreign exchange income 9 11 20 22
Bank-owned life insurance 9 11 21 20
Letter of credit fees 9 10 18 19
Brokerage fees 5 7 12 14
Net securities losses 1 0 0 (8)
Other noninterest income 35 22 55 47
Total noninterest income 247 250 484 488
NONINTEREST EXPENSES        
Salaries and benefits expense 249 245 491 510
Outside processing fee expense 62 65 119 128
Occupancy expense 37 37 74 74
Software expense 39 28 76 57
Equipment expense 12 12 24 24
Advertising expense 8 9 15 14
FDIC insurance expense 8 6 16 11
Other noninterest expenses 25 22 50 39
Total noninterest expenses 440 424 865 857
Income before income taxes 140 385 54 809
Provision for income taxes 27 87 6 172
Net income 113 298 48 637
Less income allocated to participating securities 1 1 1 3
Net income attributable to common shares $ 112 $ 297 $ 47 $ 634
Basic earnings per common share $ 0.81 $ 1.95 $ 0.34 $ 4.10
Diluted earnings per common share $ 0.80 $ 1.94 $ 0.34 $ 4.06
Comprehensive income $ 97 $ 429 $ 441 $ 864
Cash dividends declared on common stock $ 98 $ 100 $ 192 $ 205
Cash dividends declared per common share $ 0.68 $ 0.67 $ 1.36 $ 1.34
[1] Includes the effects of hedging.