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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME:        
Interest and fees on loans and leases $ 1,192 $ 1,392 $ 2,494 $ 2,773
Interest and fees on loans held for sale, at fair value 20 15 35 26
Interest and fees on other loans held for sale 7 2 16 6
Investment securities 130 164 277 330
Interest-bearing deposits in banks 1 7 6 15
Total interest income 1,350 1,580 2,828 3,150
INTEREST EXPENSE:        
Deposits 124 308 351 595
Short-term borrowed funds 0 4 1 6
Long-term borrowed funds 66 102 156 223
Total interest expense 190 414 508 824
Net interest income 1,160 1,166 2,320 2,326
Provision for credit losses 464 97 1,064 182
Net interest income after provision for credit losses 696 1,069 1,256 2,144
NONINTEREST INCOME:        
Service charges and fees 84 126 202 249
Mortgage banking fees 276 62 435 105
Card fees 48 64 104 123
Capital markets fees 61 57 104 111
Trust and investment services fees 45 53 98 100
Foreign exchange and interest rate products 34 35 58 71
Letter of credit and loan fees 31 33 65 66
Securities gains, net 3 4 3 12
Net impairment losses recognized in earnings on debt securities 0 0 0 (1)
Other income 8 28 18 54
Total noninterest income 590 462 1,087 890
NONINTEREST EXPENSE:        
Salaries and employee benefits 513 507 1,062 1,016
Equipment and software expense 142 126 275 251
Outside services 131 118 266 228
Occupancy 82 82 166 165
Other operating expense 111 118 222 228
Total noninterest expense 979 951 1,991 1,888
Income before income tax expense 307 580 352 1,146
Income tax expense 54 127 65 254
NET INCOME 253 453 287 892
Net income available to common stockholders $ 225 $ 435 $ 237 $ 859
Weighted-average common shares outstanding:        
Basic (in Shares) 426,613,053 458,154,335 427,165,737 459,426,685
Diluted (in Shares) 427,566,920 459,304,224 428,292,580 460,857,535
Per common share information:        
Basic earnings (in dollars per share) $ 0.53 $ 0.95 $ 0.56 $ 1.87
Diluted earnings (in Dollars per Share) $ 0.53 $ 0.95 $ 0.55 $ 1.86