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Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Assets    
Cash and due from banks $ 7,455 $ 7,017
Interest-earning deposits with banks 86,161 85,173
Loans held for sale [1] 1,967 1,597
Investment securities – available for sale 96,799 87,358
Investment securities – held to maturity 1,456 1,441
Loans [1] 237,013 241,928
Allowance for loan and lease losses (4,714) (5,361)
Net loans 232,299 236,567
Equity investments 6,386 6,052
Mortgage servicing rights 1,680 1,242
Goodwill 9,317 9,233
Other [1] 30,894 30,999
Total assets 474,414 466,679
Deposits    
Noninterest-bearing 120,641 112,637
Interest-bearing 254,426 252,708
Total deposits 375,067 365,345
Borrowed funds    
Federal Home Loan Bank borrowings 1,500 3,500
Bank notes and senior debt 22,139 24,271
Subordinated debt 6,241 6,403
Other [2] 3,150 3,021
Total borrowed funds 33,030 37,195
Allowance for unfunded lending related commitments 507 584
Accrued expenses and other liabilities 11,931 9,514
Total liabilities 420,535 412,638
Equity    
Preferred stock [3]
Common stock ($5 par value, Authorized 800 shares, issued 543 shares) 2,713 2,713
Capital surplus 15,879 15,884
Retained earnings 48,113 46,848
Accumulated other comprehensive income 1,290 2,770
Common stock held in treasury at cost: 118 and 119 shares (14,146) (14,205)
Total shareholders’ equity 53,849 54,010
Noncontrolling interests 30 31
Total equity 53,879 54,041
Total liabilities and equity $ 474,414 $ 466,679
[1] Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.6 billion, Loans of $1.4 billion and Other assets of $0.1 billion at March 31, 2021. Comparable amounts at December 31, 2020 were $1.2 billion, $1.4 billion and $0.1 billion, respectively.
[2] Our consolidated liabilities included Other borrowed funds of less than $0.1 billion at both March 31, 2021 and December 31, 2020, for which we have elected the fair value option.
[3] Par value less than $0.5 million at each date.