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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Loans $ 3,208 $ 1,966 $ 1,520
Investment securities:      
Taxable 2,113 1,199 635
Non-taxable 140 106 61
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 212 18 26
Total interest income 5,673 3,289 2,242
Interest expense:      
Deposits 862 62 60
Borrowings 326 48 25
Total interest expense 1,188 110 85
Net interest income 4,485 3,179 2,157
Provision for credit losses 420 123 220
Net interest income after provision for credit losses 4,065 3,056 1,937
Noninterest income:      
Gains (losses) on investment securities, net (285) 761 421
Gains on equity warrant assets, net 148 560 237
Client investment fees 386 75 132
Wealth management and trust fees 83 44 0
Foreign exchange fees 285 262 179
Credit card fees 150 131 98
Deposit service charges 126 112 90
Lending related fees 94 76 57
Letters of credit and standby letters of credit fees 57 51 47
Investment banking revenue 420 459 414
Commissions 98 79 67
Other 166 128 98
Total noninterest income 1,728 2,738 1,840
Noninterest expense:      
Compensation and benefits 2,293 2,015 1,318
Professional services 480 392 247
Premises and equipment 269 178 127
Net occupancy 101 83 101
Business development and travel 85 24 24
FDIC and state assessments 75 48 28
Merger-related charges 50 129 0
Other 268 201 190
Total noninterest expense 3,621 3,070 2,035
Income before income tax expense 2,172 2,724 1,742
Income tax expense 563 651 448
Net income before noncontrolling interests and dividends 1,609 2,073 1,294
Net loss (income) attributable to noncontrolling interests 63 (240) (86)
Preferred stock dividends (163) (63) (17)
Net income available to common stockholders $ 1,509 $ 1,770 $ 1,191
Earnings per common share—basic (usd per share) $ 25.58 $ 31.74 $ 23.05
Earnings per common share—diluted (usd per share) $ 25.35 $ 31.25 $ 22.87