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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest Income        
Interest and fees on loans and leases $ 1,910 $ 1,899 $ 5,640 $ 5,445
Interest on securities 461 444 1,374 1,320
Interest on other short-term investments 298 186 883 348
Total interest income 2,669 2,529 7,897 7,113
Interest Expense        
Interest on deposits 968 844 2,880 1,977
Interest on federal funds purchased 2 2 8 13
Interest on other short-term borrowings 40 52 135 198
Interest on long-term debt 238 193 682 514
Total interest expense 1,248 1,091 3,705 2,702
Net Interest Income 1,421 1,438 4,192 4,411
Provision for credit losses 160 119 351 460
Net Interest Income After Provision for Credit Losses 1,261 1,319 3,841 3,951
Noninterest Income        
Wealth and asset management revenue 163 145 483 434
Service charges on deposits 161 149 467 431
Commercial banking revenue 163 154 451 461
Card and processing revenue 106 104 316 310
Mortgage banking net revenue 50 57 154 184
Leasing business revenue 43 58 120 162
Other noninterest income 15 55 103 152
Securities gains (losses), net 10 (7) 23 3
Total noninterest income 711 715 2,117 2,137
Noninterest Expense        
Compensation and benefits 690 629 2,099 2,036
Technology and communications 121 115 351 347
Net occupancy expense 81 84 251 248
Equipment expense 38 37 114 110
Leasing business expense 21 29 69 94
Marketing expense 26 35 92 96
Card and processing expense 22 21 63 63
Other noninterest expense 245 238 768 756
Total noninterest expense 1,244 1,188 3,807 3,750
Income Before Income Taxes 728 846 2,151 2,338
Applicable income tax expense 155 186 457 519
Net Income 573 660 1,694 1,819
Dividends on preferred stock 41 37 121 100
Net Income Available to Common Shareholders $ 532 $ 623 $ 1,573 $ 1,719
Shares Disclosures        
Earnings per share - basic (in dollars per share) $ 0.78 $ 0.91 $ 2.30 $ 2.51
Earnings per share - diluted (in dollars per share) $ 0.78 $ 0.91 $ 2.28 $ 2.50
Average common shares outstanding - basic (in shares) 680,895,306 684,224,277 684,462,327 684,090,872
Average common shares outstanding - diluted (in shares) 686,108,625 687,059,147 689,263,426 687,661,319