EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:

TABLE 16.1

	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in millions, except per share data)	2020		2019		2020		2019
Net income	$	83	$	103	$	214	$	292
Less: Preferred stock dividends	2		2		6		6
Net income available to common stockholders	$	81	$	101	$	208	$	286
Basic weighted average common shares outstanding	323,379,720		325,031,140		323,642,925		324,875,436
Net effect of dilutive stock options, warrants and restricted stock	2,283,060		1,068,730		2,051,221		893,725
Diluted weighted average common shares outstanding	325,662,780		326,099,870		325,694,146		325,769,161
Earnings per common share:
Basic	$	0.25	$	0.31	$	0.64	$	0.88
Diluted	$	0.25	$	0.31	$	0.64	$	0.88

Schedule of Average Shares Excluded from Diluted Earnings Per Common Share Calculation

The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive: 

TABLE 16.2

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Average shares excluded from the diluted earnings per common share calculation	44,755	1	22,263	122