Business Segments (Tables)

9 Months Ended

Sep. 30, 2024

Results of Operations and Assets by Segment

The following tables present the results of operations and assets by business segment for the three months ended:


September 30, 2024 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Total
Net interest income	$	669	1,031	50	(329)		1,421
Provision for credit losses	76		78	—	6		160
Net interest income after provision for credit losses	$	593	953	50	(335)		1,261
Noninterest income:
Wealth and asset management revenue	$	1	64	98	—		163
Service charges on deposits	104		56	—	1		161
Commercial banking revenue	162		1	—	—		163
Card and processing revenue	27		78	1	—		106
Mortgage banking net revenue	—		50	—	—		50
Leasing business revenue	43		—	—	—		43
Other noninterest income	11		31	—	(27)		15
Securities gains, net	9		—	—	1		10

Total noninterest income	$	357	280	99	(25)		711
Noninterest expense:
Compensation and benefits	$	151	206	54	279		690
Technology and communications	3		7	—	111		121
Net occupancy expense	9		52	3	17		81
Equipment expense	7		13	—	18		38
Marketing expense	1		15	—	10		26
Leasing business expense	21		—	—	—		21
Card and processing expense	2		20	—	—		22
Other noninterest expense	276		291	38	(360)		245
Total noninterest expense	$	470	604	95	75		1,244
Income (loss) before income taxes	$	480	629	54	(435)		728
Applicable income tax expense (benefit)	87		132	12	(76)		155
Net income (loss)	$	393	497	42	(359)		573
Total goodwill	$	2,324	2,369	225	—		4,918
Total assets	$	75,594	89,890	10,669	38,165	(a)	214,318

(a)Includes bank premises and equipment of $24 classified as held for sale. For more information, refer to Note 7.


September 30, 2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Total
Net interest income	$	1,007	1,390	98	(1,057)		1,438
Provision for credit losses	—		105	1	13		119
Net interest income after provision for credit losses	$	1,007	1,285	97	(1,070)		1,319
Noninterest income:
Wealth and asset management revenue	$	—	53	92	—		145
Service charges on deposits	95		55	—	(1)		149
Commercial banking revenue	154		1	—	(1)		154
Card and processing revenue	23		78	—	3		104
Mortgage banking net revenue	—		57	—	—		57
Leasing business revenue	58		—	—	—		58
Other noninterest income	24		30	2	(1)		55
Securities losses, net	(1)		—	—	(6)		(7)

Total noninterest income	$	353	274	94	(6)		715
Noninterest expense:
Compensation and benefits	$	156	217	53	203		629
Technology and communications	4		7	—	104		115
Net occupancy expense(b)	12		52	3	17		84
Equipment expense	7		11	—	19		37
Marketing expense	1		17	—	17		35
Leasing business expense	29		—	—	—		29
Card and processing expense	3		19	—	(1)		21
Other noninterest expense	266		301	34	(363)		238
Total noninterest expense	$	478	624	90	(4)		1,188
Income (loss) before income taxes	$	882	935	101	(1,072)		846
Applicable income tax expense (benefit)	164		196	22	(196)		186
Net income (loss)	$	718	739	79	(876)		660
Total goodwill	$	2,324	2,369	226	—		4,919
Total assets	$	82,829	88,230	10,538	31,370	(a)	212,967

(a)Includes bank premises and equipment of $22 classified as held for sale. For more information, refer to Note 7.

(b)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.

The following tables present the results of operations and assets by business segment for the nine months ended:


September 30, 2024 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Total
Net interest income	$	2,012	3,210	162	(1,192)		4,192
Provision for (benefit from) credit losses	284		232	—	(165)		351
Net interest income after provision for (benefit from) credit losses	$	1,728	2,978	162	(1,027)		3,841
Noninterest income:
Wealth and asset management revenue	$	2	185	296	—		483
Service charges on deposits	307		159	1	—		467
Commercial banking revenue	446		4	1	—		451
Card and processing revenue	80		232	2	2		316
Mortgage banking net revenue	—		153	1	—		154
Leasing business revenue	120		—	—	—		120
Other noninterest income	46		86	1	(30)		103
Securities gains, net	3		—	—	20		23

Total noninterest income	$	1,004	819	302	(8)		2,117
Noninterest expense:
Compensation and benefits	$	496	666	168	769		2,099
Technology and communications	10		22	1	318		351
Net occupancy expense	27		159	9	56		251
Equipment expense	21		38	—	55		114
Marketing expense	2		55	1	34		92
Leasing business expense	69		—	—	—		69
Card and processing expense	6		57	1	(1)		63
Other noninterest expense	797		871	112	(1,012)		768
Total noninterest expense	$	1,428	1,868	292	219		3,807
Income (loss) before income taxes	$	1,304	1,929	172	(1,254)		2,151
Applicable income tax expense (benefit)	224		405	36	(208)		457
Net income (loss)	$	1,080	1,524	136	(1,046)		1,694
Total goodwill	$	2,324	2,369	225	—		4,918
Total assets	$	75,594	89,890	10,669	38,165	(a)	214,318

(a)Includes bank premises and equipment of $24 classified as held for sale. For more information, refer to Note 7.


September 30, 2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Total
Net interest income	$	3,006	4,016	294	(2,905)		4,411
Provision for credit losses	37		221	1	201		460
Net interest income after provision for credit losses	$	2,969	3,795	293	(3,106)		3,951
Noninterest income:
Wealth and asset management revenue	$	2	159	273	—		434
Service charges on deposits	275		159	—	(3)		431
Commercial banking revenue	459		3	1	(2)		461
Card and processing revenue	69		231	2	8		310
Mortgage banking net revenue	—		184	—	—		184
Leasing business revenue	162		—	—	—		162
Other noninterest income(a)	68		83	2	(1)		152
Securities gains (losses), net	(9)		—	—	12		3

Total noninterest income	$	1,026	819	278	14		2,137
Noninterest expense:
Compensation and benefits	$	499	663	169	705		2,036
Technology and communications	10		20	1	316		347
Net occupancy expense(c)	32		156	9	51		248
Equipment expense	22		32	—	56		110
Marketing expense	2		52	1	41		96
Leasing business expense	94		—	—	—		94
Card and processing expense	8		57	1	(3)		63
Other noninterest expense	849		920	105	(1,118)		756
Total noninterest expense	$	1,516	1,900	286	48		3,750
Income (loss) before income taxes	$	2,479	2,714	285	(3,140)		2,338
Applicable income tax expense (benefit)	470		569	59	(579)		519
Net income (loss)	$	2,009	2,145	226	(2,561)		1,819
Total goodwill	$	2,324	2,369	226	—		4,919
Total assets	$	82,829	88,230	10,538	31,370	(b)	212,967

(a)Includes impairment charges of $1 for bank premises and equipment recorded in both Consumer and Small Business Banking and General Corporate and Other. For more information, refer to Note 7 and Note 23.

(b)Includes bank premises and equipment of $22 classified as held for sale. For more information, refer to Note 7.

(c)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9.