Revenue from contracts with customers

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers

The Company generally charges customer accounts or otherwise bills customers upon completion of its services. Typically, the Company’s contracts with customers have a duration of one year or less and payment for services is received at least annually, but oftentimes more frequently as services are provided. At September 30, 2024 and December 31, 2023, the Company had $69 million and $68 million, respectively, of amounts receivable related to recognized revenue from the sources in the accompanying tables. Such amounts are classified in "accrued interest and other assets" in the Company’s Consolidated Balance Sheet. In certain situations, the Company is paid in advance of providing services and defers the recognition of revenue until its service obligation is satisfied. At September 30, 2024 and December 31, 2023, the Company had deferred revenue of $53 million and $54 million, respectively, related to the sources in the accompanying tables recorded in "accrued interest and other liabilities" in the Consolidated Balance Sheet.

The following tables summarize sources of the Company’s noninterest income during the three-month and nine-month periods ended September 30, 2024 and 2023 that are subject to the revenue recognition accounting guidance.

(Dollars in millions)	Commercial Bank		Retail Bank		Institutional Services and Wealth Management		Total
Three Months Ended September 30, 2024
Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	40	$	92	$	—	$	132
Trust income	1		—		169		170
Brokerage services income	2		—		30		32
Other revenues from operations:
Merchant discount and credit card interchange fees	18		23		—		41
Other	8		8		3		19
	$	69	$	123	$	202	$	394
Three Months Ended September 30, 2023
Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	38	$	83	$	—	$	121
Trust income	—		—		155		155
Brokerage services income	1		—		26		27
Other revenues from operations:
Merchant discount and credit card interchange fees	21		22		—		43
Other	7		7		—		14
	$	67	$	112	$	181	$	360

(Dollars in millions)	Commercial Bank		Retail Bank		Institutional Services and Wealth Management		Total
Nine Months Ended September 30, 2024
Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	120	$	263	$	—	$	383
Trust income	3		—		497		500
Brokerage services income	5		—		86		91
Other revenues from operations:
Merchant discount and credit card interchange fees	54		67		—		121
Other	23		23		8		54
	$	205	$	353	$	591	$	1,149
Nine Months Ended September 30, 2023
Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	109	$	245	$	—	$	354
Trust income	1		—		520		521
Brokerage services income	4		—		72		76
Other revenues from operations:
Merchant discount and credit card interchange fees	57		65		—		122
Other	19		23		4		46
	$	190	$	333	$	596	$	1,119