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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income    
Interest and fees on loans and leases $ 444 $ 507
Interest and fees on loans held for sale 10 7
Interest on investment securities 38 29
Interest on trading securities 11 7
Interest on other earning assets 7 2
Total interest income 510 552
Interest expense    
Interest on deposits 11 24
Interest on trading liabilities 2 1
Interest on short-term borrowings 1 1
Interest on term borrowings 17 18
Total interest expense 31 44
Net interest income 479 508
Provision for credit losses (40) (45)
Net interest income after provision for credit losses 519 553
Noninterest income    
Fixed income 73 126
Deposit transactions and cash management 44 42
Brokerage, management fees and commissions 24 20
Mortgage banking and title income 22 53
Card and digital banking fees 20 17
Trust services and investment management 13 12
Other service charges and fees 13 10
Securities gains (losses), net 6 0
Other income 14 18
Total noninterest income 229 298
Noninterest expense    
Personnel expense 280 318
Net occupancy expense 32 37
Computer software 29 28
Legal and professional fees 23 14
Operations services 20 16
Contract employment and outsourcing 19 14
Amortization of intangible assets 13 14
Equipment expense 11 11
Advertising and public relations 11 4
Communications and delivery 10 9
Other expense 45 79
Total noninterest expense 493 544
Income (loss) before income taxes 255 307
Income tax expense 57 71
Net income (loss) 198 236
Net income attributable to noncontrolling interest 3 3
Net income attributable to controlling interest 195 233
Preferred stock dividends 8 8
Net income available to common shareholders $ 187 $ 225
Basic earnings per common share (in dollars per share) $ 0.35 $ 0.41
Diluted earnings per common share (in dollars per share) $ 0.34 $ 0.40
Weighted average common shares (in shares) 533,218 552,249
Diluted average common shares (in shares) 549,809 556,788