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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Interest and fees on loans and leases $ 492 $ 496 $ 936 $ 1,003
Interest and fees on loans held for sale 10 7 20 14
Interest on investment securities 45 29 83 58
Interest on trading securities 13 7 24 14
Interest on other earning assets 23 3 31 5
Total interest income 583 542 1,094 1,094
Interest expense        
Interest on deposits 18 24 29 48
Interest on trading liabilities 4 2 6 3
Interest on short-term borrowings 2 1 3 2
Interest on term borrowings 17 18 35 37
Total interest expense 41 45 73 90
Net interest income 542 497 1,021 1,004
Provision for credit losses 30 (115) (10) (160)
Net interest income after provision for credit losses 512 612 1,031 1,164
Noninterest income        
Fixed income 51 102 124 228
Deposit transactions and cash management 42 44 86 86
Mortgage banking and title income 34 38 56 91
Brokerage, management fees and commissions 24 21 48 41
Card and digital banking fees 23 21 43 38
Other service charges and fees 15 11 28 21
Trust services and investment management 12 14 25 26
Securities gains (losses), net 0 11 6 11
Deferred compensation income (17) 7 (21) 9
Other income 17 16 35 32
Total noninterest income 201 285 430 583
Noninterest expense        
Personnel expense 265 306 545 624
Net occupancy expense 33 33 64 71
Computer software 29 30 58 57
Legal and professional fees 17 16 40 31
Operations services 23 19 43 35
Contract employment and outsourcing 12 13 31 27
Amortization of intangible assets 13 14 26 28
Equipment expense 11 12 23 23
Advertising and public relations 10 5 21 9
Communications and delivery 9 10 19 19
Other expense 66 40 112 118
Total noninterest expense 488 498 982 1,042
Income (loss) before income taxes 225 399 479 705
Income tax expense 48 88 105 159
Net income 177 311 374 546
Net income attributable to noncontrolling interest 3 3 6 6
Net income attributable to controlling interest 174 308 368 540
Preferred stock dividends 8 13 16 21
Net income available to common shareholders $ 166 $ 295 $ 352 $ 519
Basic earnings per common share (in dollars per share) $ 0.31 $ 0.54 $ 0.66 $ 0.94
Diluted earnings per common share (in dollars per share) $ 0.29 $ 0.53 $ 0.63 $ 0.93
Weighted average common shares (in shares) 534,604 550,297 533,915 551,268
Diluted average common shares (in shares) 569,435 556,210 559,834 556,498