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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME:        
Interest and fees on loans and leases $ 1,370 $ 1,058 $ 2,418 $ 2,119
Interest and fees on loans held for sale 17 24 33 42
Interest and fees on other loans held for sale 25 2 32 8
Investment securities 201 124 339 252
Interest-bearing deposits in banks 13 3 17 6
Total interest income 1,626 1,211 2,839 2,427
INTEREST EXPENSE:        
Deposits 54 42 79 92
Short-term borrowed funds 10 0 10 0
Long-term borrowed funds 57 45 98 94
Total interest expense 121 87 187 186
Net interest income 1,505 1,124 2,652 2,241
Provision (benefit) for credit losses 216 (213) 219 (353)
Net interest income after provision (benefit) for credit losses 1,289 1,337 2,433 2,594
NONINTEREST INCOME:        
Capital markets fees 88 91 181 172
Service charges and fees 108 100 206 199
Mortgage banking fees 72 85 141 250
Card fees 71 64 131 119
Trust and investment services fees 66 60 127 118
Letter of credit and loan fees 40 38 78 76
Foreign exchange and derivative products 60 28 111 56
Securities gains, net 1 3 5 6
Other income (12) 16 12 31
Total noninterest income 494 485 992 1,027
NONINTEREST EXPENSE:        
Salaries and employee benefits 683 524 1,277 1,072
Equipment and software 169 155 319 307
Outside services 189 137 358 276
Occupancy 111 82 194 170
Other operating expense 153 93 263 184
Total noninterest expense 1,305 991 2,411 2,009
Income before income tax expense 478 831 1,014 1,612
Income tax expense 114 183 230 353
NET INCOME 364 648 784 1,259
Net income available to common stockholders $ 332 $ 616 $ 728 $ 1,204
Weighted-average common shares outstanding:        
Basic (in Shares) 491,497,026 425,948,706 457,140,258 425,951,197
Diluted (in Shares) 493,296,114 427,561,572 459,167,747 427,668,242
Per common share information:        
Basic earnings (in dollars per share) $ 0.68 $ 1.45 $ 1.59 $ 2.83
Diluted earnings (in dollars per Share) $ 0.67 $ 1.44 $ 1.58 $ 2.81