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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Loans and leases, including fees $ 2,153 $ 2,062 $ 6,378 $ 5,910
Investment securities:        
Fully taxable 267 198 723 579
Exempt from federal taxes 16 17 48 50
Deposits at banks 348 363 1,167 942
Other 1 1 3 3
Total interest income 2,785 2,641 8,319 7,484
Interest expense        
Savings and interest-checking deposits 655 494 1,888 1,140
Time deposits 180 202 622 441
Short-term borrowings 57 69 210 223
Long-term borrowings 167 101 475 287
Total interest expense 1,059 866 3,195 2,091
Net interest income 1,726 1,775 5,124 5,393
Provision for credit losses 120 150 470 420
Net interest income after provision for credit losses 1,606 1,625 4,654 4,973
Other income        
Mortgage banking revenues 109 105 319 297
Service charges on deposit accounts 132 121 383 354
Trust income 170 155 500 521
Brokerage services income 32 27 91 76
Trading account and other non-hedging derivative gains 13 9 29 38
Gain (loss) on bank investment securities (2) 0 (8) 0
Other revenues from operations 152 143 456 664
Total other income 606 560 1,770 1,950
Other expense        
Salaries and employee benefits 775 727 2,372 2,273
Equipment and net occupancy 125 131 379 387
Outside data processing and software 123 111 367 323
Professional and other services 88 89 264 314
FDIC assessments 25 29 122 87
Advertising and marketing 27 23 74 82
Amortization of core deposit and other intangible assets 12 15 40 47
Other costs of operations 128 153 378 417
Total other expense 1,303 1,278 3,996 3,930
Income before taxes 909 907 2,428 2,993
Income taxes 188 217 521 734
Net income 721 690 1,907 2,259
Net income available to common shareholders        
Net income available to common stockholders, basic 674 664 1,805 2,180
Net income available to common stockholders, diluted $ 674 $ 664 $ 1,805 $ 2,180
Net income per common share        
Earnings per share, basic (in USD per share) $ 4.04 $ 4.00 $ 10.83 $ 13.09
Earnings per share, diluted (in USD per share) $ 4.02 $ 3.98 $ 10.78 $ 13.05
Average common shares outstanding        
Average common shares outstanding, basic (in shares) 166,671 165,909 166,694 166,488
Average common shares outstanding, diluted (in shares) 167,567 166,570 167,437 167,093