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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income    
Interest and fees on loans and leases $ 507 $ 327
Interest and fees on loans held for sale 7 7
Interest on securities available for sale 29 27
Interest on trading securities 7 13
Interest on other earning assets 2 4
Total interest income 552 378
Interest expense    
Interest on deposits 24 54
Interest on trading liabilities 1 3
Interest on short-term borrowings 1 10
Interest on term borrowings 18 8
Total interest expense 44 75
Net interest income 508 303
Provision for credit losses (45) 154
Net interest income after provision for credit losses 553 149
Noninterest income    
Fixed income 126 96
Mortgage banking and title income 53 2
Deposit transactions and cash management 42 30
Brokerage, management fees and commissions 20 16
Trust services and investment management 12 7
Bankcard income 11 7
Other income 34 16
Total noninterest income 298 174
Noninterest expense    
Personnel expense 318 183
Net occupancy expense 37 20
Computer software 28 16
Legal and professional fees 14 9
Operations services 16 12
Equipment expense 11 9
Amortization of intangible assets 14 5
Other expense 106 48
Total noninterest expense 544 302
Income before income taxes 307 21
Income tax expense 71 5
Net income 236 16
Net income attributable to noncontrolling interest 3 3
Net income attributable to controlling interest 233 13
Preferred stock dividends 8 1
Net income available to common shareholders $ 225 $ 12
Basic earnings per common share (in dollars per share) $ 0.41 $ 0.04
Diluted earnings per common share (in dollars per share) $ 0.40 $ 0.04
Weighted average common shares (in shares) 552,249 311,597
Diluted average common shares (in shares) 557,532 313,170