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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Interest and fees on loans and leases $ 496 $ 306 $ 1,003 $ 633
Interest and fees on loans held for sale 7 7 14 13
Interest on securities available for sale 29 24 58 52
Interest on trading securities 7 9 14 23
Interest on other earning assets 3 0 5 4
Total interest income 542 346 1,094 725
Interest expense        
Interest on deposits 24 25 48 79
Interest on trading liabilities 2 1 3 4
Interest on short-term borrowings 1 1 2 12
Interest on term borrowings 18 14 37 22
Total interest expense 45 41 90 117
Net interest income 497 305 1,004 608
Provision for credit losses (115) 121 (160) 275
Net interest income after provision for credit losses 612 184 1,164 333
Noninterest income        
Fixed income 102 112 228 208
Mortgage banking and title income 38 4 91 7
Deposit transactions and cash management 44 31 86 61
Brokerage, management fees and commissions 21 14 41 29
Trust services and investment management 14 8 26 15
Bankcard income 15 7 25 14
Securities gains (losses), net 11 (1) 11 (1)
Other income 40 31 75 48
Total noninterest income 285 206 583 381
Noninterest expense        
Personnel expense 306 200 624 384
Net occupancy expense 33 21 71 41
Computer software 30 17 57 32
Operations services 19 12 35 23
Legal and professional fees 16 13 31 22
Equipment expense 12 9 23 17
Amortization of intangible assets 14 5 28 11
Other expense 68 43 173 93
Total noninterest expense 498 320 1,042 623
Income before income taxes 399 70 705 91
Income tax expense 88 13 159 18
Net income 311 57 546 73
Net income attributable to noncontrolling interest 3 3 6 6
Net income attributable to controlling interest 308 54 540 67
Preferred stock dividends 13 2 21 3
Net income available to common shareholders $ 295 $ 52 $ 519 $ 64
Basic earnings per common share (in dollars per share) $ 0.54 $ 0.17 $ 0.94 $ 0.21
Diluted earnings per common share (in dollars per share) $ 0.53 $ 0.17 $ 0.93 $ 0.21
Weighted average common shares (in shares) 550,297 312,090 551,268 311,843
Diluted average common shares (in shares) 556,763 312,936 557,146 312,792