XML 18 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Interest and fees on loans and leases $ 877 $ 492 $ 1,683 $ 936
Interest and fees on loans held for sale 14 10 24 20
Interest on investment securities 63 45 125 83
Interest on trading securities 18 13 38 24
Interest on other earning assets 43 23 64 31
Total interest income 1,015 583 1,934 1,094
Interest expense        
Interest on deposits 265 18 436 29
Interest on trading liabilities 2 4 5 6
Interest on short-term borrowings 99 2 136 3
Interest on term borrowings 19 17 39 35
Total interest expense 385 41 616 73
Net interest income 630 542 1,318 1,021
Provision for credit losses 50 30 100 (10)
Net interest income after provision for credit losses 580 512 1,218 1,031
Noninterest income        
Deposit transactions and cash management 45 42 87 86
Fixed income 30 51 69 124
Brokerage, management fees and commissions 22 24 44 48
Card and digital banking fees 21 23 40 43
Other service charges and fees 14 15 27 28
Trust services and investment management 12 12 24 25
Mortgage banking and title income 6 34 11 56
Deferred compensation income 8 (17) 11 (21)
Gain on merger termination 225 0 225 0
Securities gains (losses), net 0 0 1 6
Other income 17 17 32 35
Noninterest income 400 201 571 430
Noninterest expense        
Personnel expense 285 265 556 545
Contributions 53 1 57 2
Net occupancy expense 30 33 61 64
Computer software 28 29 55 58
Operations services 22 23 44 43
Advertising and public relations 17 10 31 21
Deposit insurance expense 13 8 26 15
Contract employment and outsourcing 12 12 24 31
Amortization of intangible assets 12 13 24 26
Equipment expense 10 11 21 23
Legal and professional fees 12 17 20 40
Communications and delivery 9 9 18 19
Other expense 52 57 96 95
Total noninterest expense 555 488 1,033 982
Income (loss) before income taxes 425 225 756 479
Income tax expense 96 48 171 105
Net income 329 177 585 374
Net income attributable to noncontrolling interest 4 3 9 6
Net income attributable to controlling interest 325 174 576 368
Preferred stock dividends 8 8 16 16
Net income available to common shareholders 317 166 560 352
Net income available to common shareholders $ 317 $ 166 $ 560 $ 352
Basic earnings per common share (in dollars per share) $ 0.59 $ 0.31 $ 1.04 $ 0.66
Diluted earnings per common share (in dollars per share) $ 0.56 $ 0.29 $ 1.00 $ 0.63
Weighted average common shares (in shares) 539,120 534,604 538,035 533,915
Diluted average common shares (in shares) 560,878 569,435 562,188 559,834