EX-99.3 4 bac-9302019ex993.htm THE SUPPLEMENTAL INFORMATION Exhibit





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Supplemental Information
Third Quarter 2019

                









Current period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the Corporation’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at the Corporation’s website (www.bankofamerica.com). The Corporation’s future financial performance is subject to risks and uncertainties as described in its SEC filings.




Bank of America Corporation and Subsidiaries
 
Table of Contents
Page
 
 
 
Consumer Banking
 
Global Wealth & Investment Management
 
Global Banking
 
Global Markets
 
All Other
 
 
 
 
 
 
 
The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 11-13 are reported on an FTE basis.

 
 








Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
 
Nine Months Ended
September 30
 
 
Third
Quarter
2019
 
Second
Quarter
2019
 
First
Quarter
2019
 
Fourth
Quarter
2018
 
Third
Quarter
2018
 
2019
 
2018
 
 
Income statement
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
36,751

 
$
35,658

 
 
$
12,187

 
$
12,189

 
$
12,375

 
$
12,504

 
$
12,061

Noninterest income
32,144

 
32,685

 
 
10,620

 
10,895

 
10,629

 
10,173

 
10,663

Total revenue, net of interest expense
68,895

 
68,343

 
 
22,807

 
23,084

 
23,004

 
22,677

 
22,724

Provision for credit losses
2,649

 
2,377

 
 
779

 
857

 
1,013

 
905

 
716

Noninterest expense
41,661

 
40,080

 
 
15,169

 
13,268

 
13,224

 
13,074

 
13,014

Income tax expense
4,149

 
5,017

 
 
1,082

 
1,611

 
1,456

 
1,420

 
1,827

Net income
20,436

 
20,869

 
 
5,777

 
7,348

 
7,311

 
7,278

 
7,167

Preferred stock dividends
1,186

 
1,212

 
 
505

 
239

 
442

 
239

 
466

Net income applicable to common shareholders
19,250

 
19,657

 
 
5,272

 
7,109

 
6,869

 
7,039

 
6,701

Diluted earnings per common share
2.01

 
1.91

 
 
0.56

 
0.74

 
0.70

 
0.70

 
0.66

Average diluted common shares issued and outstanding
9,565.7

 
10,317.9

 
 
9,353.0

 
9,559.6

 
9,787.3

 
9,996.0

 
10,170.8

Dividends paid per common share
$
0.48

 
$
0.39

 
 
$
0.18

 
$
0.15

 
$
0.15

 
$
0.15

 
$
0.15

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance ratios
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Return on average assets
1.14
%
 
1.20
%
 
 
0.95
%
 
1.23
%
 
1.26
%
 
1.24
%
 
1.23
%
Return on average common shareholders’ equity
10.49

 
10.86

 
 
8.48

 
11.62

 
11.42

 
11.57

 
10.99

Return on average shareholders’ equity
10.19

 
10.52

 
 
8.48

 
11.00

 
11.14

 
10.95

 
10.74

Return on average tangible common shareholders’ equity (1)
14.67

 
15.30

 
 
11.84

 
16.24

 
16.01

 
16.29

 
15.48

Return on average tangible shareholders’ equity (1)
13.78

 
14.31

 
 
11.43

 
14.88

 
15.10

 
14.90

 
14.61

Efficiency ratio
60.47

 
58.65

 
 
66.51

 
57.48

 
57.48

 
57.65

 
57.27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At period end
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Book value per share of common stock
$
26.96

 
$
24.33

 
 
$
26.96

 
$
26.41

 
$
25.57

 
$
25.13

 
$
24.33

Tangible book value per share of common stock (1)
19.26

 
17.23

 
 
19.26

 
18.92

 
18.26

 
17.91

 
17.23

Market capitalization
264,842

 
290,424

 
 
264,842

 
270,935

 
263,992

 
238,251

 
290,424

Number of financial centers - U.S.
4,302

 
4,385

 
 
4,302

 
4,349

 
4,353

 
4,341

 
4,385

Number of branded ATMs - U.S.
16,626

 
16,089

 
 
16,626

 
16,561

 
16,378

 
16,255

 
16,089

Headcount
208,561

 
204,681

 
 
208,561

 
208,984

 
205,292

 
204,489

 
204,681

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 
Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 34.)


Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation.
2



Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
 
 
Nine Months Ended September 30
 
 
Third
Quarter
2019
 
Second
Quarter
2019
 
First
Quarter
2019
 
Fourth
Quarter
2018
 
Third
Quarter
2018
 
 
2019
 
2018
 
 
Net interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
 
$
54,310

 
$
48,933

 
 
$
17,916

 
$
18,224

 
$
18,170

 
$
17,836

 
$
16,965

Interest expense
 
17,559

 
13,275

 
 
5,729

 
6,035

 
5,795

 
5,332

 
4,904

Net interest income
 
36,751

 
35,658

 
 
12,187


12,189


12,375


12,504


12,061

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fees and commissions
 
24,495

 
24,733

 
 
8,467

 
8,190

 
7,838

 
8,345

 
8,076

Trading account income
 
6,390

 
6,421

 
 
1,707

 
2,345

 
2,338

 
1,448

 
1,717

Other income
 
1,259

 
1,531

 
 
446

 
360

 
453

 
380

 
870

Total noninterest income
 
32,144

 
32,685

 
 
10,620

 
10,895

 
10,629

 
10,173

 
10,663

Total revenue, net of interest expense
 
68,895

 
68,343

 
 
22,807

 
23,084

 
23,004

 
22,677

 
22,724

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Provision for credit losses
 
2,649

 
2,377

 
 
779

 
857

 
1,013

 
905

 
716

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Compensation and benefits
 
24,000

 
24,145

 
 
7,779

 
7,972

 
8,249

 
7,735

 
7,721

Occupancy and equipment
 
4,908

 
4,787

 
 
1,663

 
1,640

 
1,605

 
1,593

 
1,589

Information processing and communications
 
3,484

 
3,399

 
 
1,163

 
1,157

 
1,164

 
1,156

 
1,113

Product delivery and transaction related
 
2,067

 
2,149

 
 
696

 
709

 
662

 
708

 
687

Marketing
 
1,410

 
1,161

 
 
440

 
528

 
442

 
513

 
421

Professional fees
 
1,155

 
1,219

 
 
386

 
409

 
360

 
480

 
439

Other general operating
 
4,637

 
3,220

 
 
3,042

 
853

 
742

 
889

 
1,044

Total noninterest expense
 
41,661

 
40,080

 
 
15,169

 
13,268

 
13,224

 
13,074

 
13,014

Income before income taxes
 
24,585

 
25,886

 
 
6,859

 
8,959

 
8,767

 
8,698

 
8,994

Income tax expense
 
4,149

 
5,017

 
 
1,082

 
1,611

 
1,456

 
1,420

 
1,827

Net income
 
$
20,436

 
$
20,869

 
 
$
5,777

 
$
7,348

 
$
7,311

 
$
7,278

 
$
7,167

Preferred stock dividends
 
1,186

 
1,212

 
 
505

 
239

 
442

 
239

 
466

Net income applicable to common shareholders
 
$
19,250

 
$
19,657

 
 
$
5,272

 
$
7,109

 
$
6,869

 
$
7,039

 
$
6,701

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per common share information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
$
2.02

 
$
1.93

 
 
$
0.57

 
$
0.75

 
$
0.71

 
$
0.71

 
$
0.67

Diluted earnings
 
2.01

 
1.91

 
 
0.56

 
0.74

 
0.70

 
0.70

 
0.66

Average common shares issued and outstanding
 
9,516.2

 
10,177.5

 
 
9,303.6

 
9,523.2

 
9,725.9

 
9,855.8

 
10,031.6

Average diluted common shares issued and outstanding
 
9,565.7

 
10,317.9

 
 
9,353.0

 
9,559.6

 
9,787.3

 
9,996.0

 
10,170.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Consolidated Statement of Comprehensive Income
(Dollars in millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30
 
 
Third
Quarter
2019
 
Second
Quarter
2019
 
First
Quarter
2019
 
Fourth
Quarter
2018
 
Third
Quarter
2018
 
2019
 
2018
 
 
Net income
$
20,436

 
$
20,869

 
 
$
5,777

 
$
7,348

 
$
7,311

 
$
7,278

 
$
7,167

Other comprehensive income (loss), net-of-tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net change in debt securities
6,231

 
(6,166
)
 
 
1,538

 
2,384

 
2,309

 
2,213

 
(1,172
)
Net change in debit valuation adjustments
(272
)
 
183

 
 
229

 
(138
)
 
(363
)
 
566

 
(269
)
Net change in derivatives
651

 
(346
)
 
 
118

 
304

 
229

 
293

 
21

Employee benefit plan adjustments
83

 
91

 
 
26

 
29

 
28

 
(496
)
 
31

Net change in foreign currency translation adjustments
(99
)
 
(303
)
 
 
(51
)
 
(14
)
 
(34
)
 
49

 
(114
)
Other comprehensive income (loss)
6,594

 
(6,541
)
 
 
1,860

 
2,565

 
2,169

 
2,625

 
(1,503
)
Comprehensive income
$
27,030


$
14,328



$
7,637


$
9,913


$
9,480


$
9,903


$
5,664

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Certain prior period amounts have been reclassified to conform to current period presentation.


Current period information is preliminary and based on company data available at the time of the presentation.
3



Bank of America Corporation and Subsidiaries
Net Interest Income and Noninterest Income
(Dollars in millions) 
 
Nine Months Ended September 30
 
 
Third
Quarter
2019
 
Second
Quarter
2019
 
First
Quarter
2019
 
Fourth
Quarter
2018
 
Third
Quarter
2018
 
2019
 
2018
 
 
Net interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans and leases
$
32,721

 
$
30,095

 
 
$
10,894

 
$
10,942

 
$
10,885

 
$
10,716

 
$
10,401

Debt securities
8,965

 
8,646

 
 
2,829

 
3,017

 
3,119

 
3,078

 
2,986

Federal funds sold and securities borrowed or purchased under agreements to resell
3,746

 
2,130

 
 
1,242

 
1,309

 
1,195

 
1,046

 
799

Trading account assets
3,962

 
3,506

 
 
1,319

 
1,321

 
1,322

 
1,305

 
1,172

Other interest income
4,916

 
4,556

 
 
1,632

 
1,635

 
1,649

 
1,691

 
1,607

Total interest income
54,310


48,933

 
 
17,916


18,224


18,170


17,836


16,965

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits
5,640

 
2,933

 
 
1,880

 
1,965

 
1,795

 
1,562

 
1,230

Short-term borrowings
5,725

 
4,123

 
 
1,876

 
1,997

 
1,852

 
1,716

 
1,526

Trading account liabilities
967

 
1,040

 
 
303

 
319

 
345

 
318

 
335

Long-term debt
5,227

 
5,179

 
 
1,670

 
1,754

 
1,803

 
1,736

 
1,813

Total interest expense
17,559


13,275

 
 
5,729


6,035


5,795


5,332


4,904

Net interest income
$
36,751

 
$
35,658

 
 
$
12,187


$
12,189


$
12,375


$
12,504


$
12,061

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fees and commissions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Card income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interchange fees (1)
$
2,827

 
$
2,850

 
 
$
963

 
$
968

 
$
896

 
$
1,016

 
$
925

Other card income
1,459

 
1,452

 
 
502

 
478

 
479

 
506

 
492

Total card income
4,286

 
4,302

 
 
1,465


1,446


1,375


1,522


1,417

Service charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit-related fees
4,908

 
5,008

 
 
1,690

 
1,638

 
1,580

 
1,659

 
1,682

Lending-related fees
809

 
828

 
 
285

 
265

 
259

 
272

 
279

Total service charges
5,717

 
5,836

 
 
1,975


1,903


1,839


1,931


1,961

Investment and brokerage services
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset management fees
7,591

 
7,653

 
 
2,597

 
2,554

 
2,440

 
2,536

 
2,576

Brokerage fees
2,733

 
2,963

 
 
897

 
916

 
920

 
1,008

 
918

Total investment and brokerage services
10,324

 
10,616

 
 
3,494


3,470


3,360


3,544


3,494

Investment banking fees
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Underwriting income
2,198

 
2,160

 
 
740

 
792

 
666

 
562

 
701

Syndication fees
887

 
958

 
 
341

 
291

 
255

 
389

 
241

Financial advisory services
1,083

 
861

 
 
452

 
288

 
343

 
397

 
262

Total investment banking fees
4,168

 
3,979

 
 
1,533


1,371


1,264


1,348


1,204

Total fees and commissions
24,495

 
24,733

 
 
8,467


8,190


7,838


8,345


8,076

Trading account income
6,390

 
6,421

 
 
1,707

 
2,345

 
2,338

 
1,448

 
1,717

Other income
1,259

 
1,531

 
 
446

 
360

 
453

 
380

 
870

Total noninterest income
$
32,144

 
$
32,685

 
 
$
10,620


$
10,895


$
10,629


$
10,173


$
10,663

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 
Gross interchange fees were $7.4 billion and $7.0 billion and are presented net of $4.6 billion and $4.2 billion of expenses for rewards and partner payments for the nine months ended September 30, 2019 and 2018. Gross interchange fees were $2.6 billion, $2.5 billion, $2.3 billion, $2.5 billion and $2.4 billion and are presented net of $1.6 billion, $1.6 billion, $1.4 billion, $1.5 billion and $1.5 billion of expenses for rewards and partner payments for the third, second and first quarters of 2019 and the fourth and third quarters of 2018, respectively.


Certain prior period amounts have been reclassified to conform to current period presentation.


Current period information is preliminary and based on company data available at the time of the presentation.
4



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
 
 
 
 
 
 
September 30
2019
 
June 30
2019
 
September 30
2018
Assets
 
 
 
 
 
Cash and due from banks
$
26,939

 
$
29,409

 
$
27,440

Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks
130,155

 
141,985

 
157,418

Cash and cash equivalents
157,094


171,394


184,858

Time deposits placed and other short-term investments
7,557

 
8,692

 
7,865

Federal funds sold and securities borrowed or purchased under agreements to resell
271,595

 
248,077

 
248,237

Trading account assets
263,684

 
251,987

 
219,118

Derivative assets
45,123

 
44,912

 
45,617

Debt securities:
 
 
 
 
 
Carried at fair value
254,342

 
246,094

 
251,635

Held-to-maturity, at cost
190,252

 
199,981

 
194,472

Total debt securities
444,594


446,075


446,107

Loans and leases
972,910

 
963,800

 
929,801

Allowance for loan and lease losses
(9,433
)
 
(9,527
)
 
(9,734
)
Loans and leases, net of allowance
963,477


954,273


920,067

Premises and equipment, net
10,493

 
10,426

 
9,680

Goodwill
68,951

 
68,951

 
68,951

Loans held-for-sale
9,811

 
5,416

 
5,576

Customer and other receivables
52,560

 
53,329

 
56,962

Other assets
131,391

 
132,360

 
125,795

Total assets
$
2,426,330


$
2,395,892


$
2,338,833

 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
Deposits in U.S. offices:
 
 
 
 
 
Noninterest-bearing
$
394,379

 
$
393,567

 
$
414,853

Interest-bearing
917,401

 
900,434

 
844,204

Deposits in non-U.S. offices:
 
 
 
 
 
Noninterest-bearing
13,138

 
12,864

 
12,896

Interest-bearing
67,918

 
68,228

 
73,696

Total deposits
1,392,836

 
1,375,093

 
1,345,649

Federal funds purchased and securities loaned or sold under agreements to repurchase
202,067

 
194,948

 
171,600

Trading account liabilities
78,642

 
82,150

 
89,964

Derivative liabilities
38,025

 
38,380

 
36,189

Short-term borrowings
30,682

 
27,244

 
29,035

Accrued expenses and other liabilities
172,286

 
168,658

 
170,067

Long-term debt
243,405

 
238,011

 
234,171

Total liabilities
2,157,943

 
2,124,484

 
2,076,675

Shareholders’ equity
 
 
 
 
 
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,895,685, 3,939,040 and 3,843,140 shares
23,606

 
24,689

 
22,326

Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 9,079,264,535, 9,342,601,750 and 9,858,252,641 shares
99,215

 
106,619

 
123,921

Retained earnings
151,183

 
147,577

 
130,747

Accumulated other comprehensive income (loss)
(5,617
)
 
(7,477
)
 
(14,836
)
Total shareholders’ equity
268,387

 
271,408

 
262,158

Total liabilities and shareholders’ equity
$
2,426,330

 
$
2,395,892

 
$
2,338,833

 
 
 
 
 
 
 
 
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
 
Trading account assets
$
5,758

 
$
5,469

 
$
6,145

 
Loans and leases
39,387

 
40,676

 
44,163

 
Allowance for loan and lease losses
(835
)
 
(882
)
 
(920
)
 
Loans and leases, net of allowance
38,552


39,794


43,243

 
All other assets
555

 
387

 
357

 
Total assets of consolidated variable interest entities
$
44,865


$
45,650


$
49,745

 
 
 
 
 
 
 
 
Liabilities of consolidated variable interest entities included in total liabilities above
 
Short-term borrowings
$
2,274

 
$
1,845

 
$
905

 
Long-term debt
8,560

 
7,393

 
11,024

 
All other liabilities
26

 
27

 
39

 
Total liabilities of consolidated variable interest entities
$
10,860

 
$
9,265

 
$
11,968



Certain prior period amounts have been reclassified to conform to current period presentation.




Current period information is preliminary and based on company data available at the time of the presentation.
5



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
 
September 30
2019
 
June 30
2019
 
September 30
2018
Risk-based capital metrics (1):
 
 
 
 
 
Standardized Approach
 
 
 
 
 
Common equity tier 1 capital
$
169,203

 
$
171,498

 
$
164,386

Tier 1 capital
192,029

 
195,539

 
186,189

Total capital
225,444

 
228,965

 
218,159

Risk-weighted assets
1,485,965

 
1,466,537

 
1,439,419

Common equity tier 1 capital ratio
11.4
%
 
11.7
%
 
11.4
%
Tier 1 capital ratio
12.9

 
13.3

 
12.9

Total capital ratio
15.2

 
15.6

 
15.2

 
 
 
 
 
 
Advanced Approaches
 
 
 
 
 
Common equity tier 1 capital
$
169,203

 
$
171,498

 
$
164,386

Tier 1 capital
192,029

 
195,539

 
186,189

Total capital
217,199

 
220,904

 
209,950

Risk-weighted assets
1,441,246

 
1,430,745

 
1,424,105

Common equity tier 1 capital ratio
11.7
%
 
12.0
%
 
11.5
%
Tier 1 capital ratio
13.3

 
13.7

 
13.1

Total capital ratio
15.1

 
15.4

 
14.7

 
 
 
 
 
 
Leverage-based metrics (1)
 
 
 
 
 
Adjusted average assets
$
2,335,671

 
$
2,322,426

 
$
2,240,166

Tier 1 leverage ratio
8.2
%
 
8.4
%
 
8.3
%
 
 
 
 
 
 
Supplementary leverage exposure
$
2,897,754

 
$
2,872,393

 
$
2,787,880

Supplementary leverage ratio
6.6
%
 
6.8
%
 
6.7
%
 
 
 
 
 
 
Tangible equity ratio (2)
8.4

 
8.7

 
8.5

Tangible common equity ratio (2)
7.4

 
7.6

 
7.5

 
 
 
 
 
 
(1) 
Regulatory capital ratios at September 30, 2019 are preliminary. We report regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy.
(2) 
Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 34.)



Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation.
6



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
 
 
Third Quarter 2019
 
 
Second Quarter 2019
 
 
Third Quarter 2018
 
 
Average
Balance
 
Interest
Income/
Expense
 
Yield/
Rate
 
 
Average
Balance
 
Interest
Income/
Expense
 
Yield/
Rate
 
 
Average
Balance
 
Interest
Income/
Expense
 
Yield/
Rate
Earning assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks
 
$
122,033

 
$
453

 
1.47
%
 
 
$
122,395

 
$
495

 
1.62
%
 
 
$
144,411

 
$
523

 
1.44
%
Time deposits placed and other short-term investments
 
9,863

 
47

 
1.87

 
 
9,798

 
61

 
2.51

 
 
8,328

 
48

 
2.26

Federal funds sold and securities borrowed or purchased under agreements to resell
 
269,129

 
1,242

 
1.83

 
 
281,085

 
1,309

 
1.87

 
 
241,426

 
799

 
1.31

Trading account assets
 
157,818

 
1,338

 
3.37

 
 
146,865

 
1,337

 
3.65

 
 
128,896

 
1,195

 
3.68

Debt securities
 
447,126

 
2,856

 
2.56

 
 
446,447

 
3,047

 
2.72

 
 
445,813

 
3,014

 
2.66

Loans and leases (1):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage
 
224,084

 
1,937

 
3.46

 
 
215,822

 
1,899

 
3.52

 
 
209,460

 
1,857

 
3.54

Home equity
 
43,616

 
552

 
5.03

 
 
45,944

 
587

 
5.12

 
 
53,050

 
656

 
4.91

U.S. credit card
 
94,370

 
2,581

 
10.85

 
 
93,627

 
2,511

 
10.76

 
 
94,710

 
2,435

 
10.20

Direct/Indirect and other consumer
 
90,813

 
824

 
3.59

 
 
90,453

 
830

 
3.68

 
 
91,828

 
787

 
3.40

Total consumer
 
452,883

 
5,894

 
5.18

 
 
445,846

 
5,827

 
5.24

 
 
449,048

 
5,735

 
5.08

U.S. commercial
 
324,436

 
3,279

 
4.01

 
 
318,243

 
3,382

 
4.26

 
 
303,680

 
3,034

 
3.97

Non-U.S. commercial
 
105,003

 
905

 
3.42

 
 
103,844

 
894

 
3.45

 
 
96,019

 
831

 
3.43

Commercial real estate
 
62,185

 
687

 
4.38

 
 
61,778

 
720

 
4.67

 
 
60,754

 
682

 
4.45

Commercial lease financing
 
20,226

 
182

 
3.58

 
 
20,814

 
172

 
3.32

 
 
21,235

 
173

 
3.25

Total commercial
 
511,850

 
5,053

 
3.92

 
 
504,679

 
5,168

 
4.11

 
 
481,688

 
4,720

 
3.89

Total loans and leases
 
964,733

 
10,947

 
4.51

 
 
950,525

 
10,995

 
4.64

 
 
930,736

 
10,455

 
4.46

Other earning assets
 
68,018

 
1,181

 
6.90

 
 
66,607

 
1,129

 
6.79

 
 
72,827

 
1,082

 
5.91

Total earning assets (2)
 
2,038,720

 
18,064

 
3.52

 
 
2,023,722

 
18,373

 
3.64

 
 
1,972,437

 
17,116

 
3.45

Cash and due from banks
 
25,588

 
 
 
 
 
 
25,951

 
 
 
 
 
 
25,639

 
 
 
 
Other assets, less allowance for loan and lease losses
 
347,915

 
 
 
 
 
 
349,378

 
 
 
 
 
 
319,753

 
 
 
 
Total assets
 
$
2,412,223

 
 
 
 
 
 
$
2,399,051

 
 
 
 
 
 
$
2,317,829

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 
Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.
(2) 
The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:
 
 
Third Quarter 2019
 
 
 
 
Second Quarter 2019
 
 
 
 
Third Quarter 2018
 
 
   Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks
 
 
 
$
13

 
 
 
 
 
 
$
18

 
 
 
 
 
 
$
5

 
 
   Federal funds sold and securities borrowed or purchased under agreements to resell
 
 
 
(34
)
 
 
 
 
 
 
(63
)
 
 
 
 
 
 
(52
)
 
 
   Debt securities
 
 
 
1

 
 
 
 
 
 
1

 
 
 
 
 
 
(2
)
 
 
   U.S. commercial loans and leases
 
 
 
(9
)
 
 
 
 
 
 
(9
)
 
 
 
 
 
 
(8
)
 
 
Net hedge expense on assets
 
 
 
$
(29
)
 
 
 
 
 
 
$
(53
)
 
 
 
 
 
 
$
(57
)
 
 


Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation.
7