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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST INCOME:        
Interest and fees on loans and leases $ 1,120 $ 1,356 $ 3,614 $ 4,129
Interest and fees on loans held for sale, at fair value 21 19 56 45
Interest and fees on other loans held for sale 16 2 32 8
Investment securities 121 153 398 483
Interest-bearing deposits in banks 2 8 8 23
Total interest income 1,280 1,538 4,108 4,688
INTEREST EXPENSE:        
Deposits 89 297 440 892
Short-term borrowed funds 0 2 1 8
Long-term borrowed funds 54 94 210 317
Total interest expense 143 393 651 1,217
Net interest income 1,137 1,145 3,457 3,471
Provision for credit losses 428 101 1,492 283
Net interest income after provision for credit losses 709 1,044 1,965 3,188
NONINTEREST INCOME:        
Service charges and fees 97 128 299 377
Mortgage banking fees 287 117 722 222
Card fees 57 67 161 190
Capital markets fees 58 39 162 150
Trust and investment services fees 53 50 151 150
Foreign exchange and interest rate products 27 35 85 106
Letter of credit and loan fees 37 34 102 100
Securities gains, net 1 3 4 15
Net impairment losses recognized in earnings on debt securities 0 (1) 0 (2)
Other income 37 21 55 75
Total noninterest income 654 493 1,741 1,383
NONINTEREST EXPENSE:        
Salaries and employee benefits 524 508 1,586 1,524
Equipment and software expense 149 130 424 381
Outside services 139 128 405 356
Occupancy 81 80 247 245
Other operating expense 95 127 317 355
Total noninterest expense 988 973 2,979 2,861
Income before income tax expense 375 564 727 1,710
Income tax expense 61 115 126 369
NET INCOME 314 449 601 1,341
Net income available to common stockholders $ 289 $ 432 $ 526 $ 1,291
Weighted-average common shares outstanding:        
Basic (in Shares) 426,846,096 445,703,987 427,058,412 454,802,186
Diluted (in Shares) 427,992,349 447,134,595 428,142,358 456,218,755
Per common share information:        
Basic earnings (in dollars per share) $ 0.68 $ 0.97 $ 1.23 $ 2.84
Diluted earnings (in Dollars per Share) $ 0.68 $ 0.97 $ 1.23 $ 2.83