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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME:        
Interest and fees on loans and leases $ 1,657 $ 1,078 $ 4,075 $ 3,197
Interest and fees on loans held for sale 18 21 51 63
Interest and fees on other loans held for sale 15 1 47 9
Investment securities 243 116 582 368
Interest-bearing deposits in banks 36 6 53 12
Total interest income 1,969 1,222 4,808 3,649
INTEREST EXPENSE:        
Deposits 176 35 255 127
Short-term borrowed funds 11 0 21 0
Long-term borrowed funds 117 42 215 136
Total interest expense 304 77 491 263
Net interest income 1,665 1,145 4,317 3,386
Provision (benefit) for credit losses 123 (33) 342 (386)
Net interest income after provision (benefit) for credit losses 1,542 1,178 3,975 3,772
NONINTEREST INCOME:        
Capital markets fees 89 72 270 244
Service charges and fees 109 110 315 309
Mortgage banking fees 66 108 207 358
Card fees 71 66 202 185
Trust and investment services fees 61 61 188 179
Letter of credit and loan fees 40 39 118 115
Foreign exchange and derivative products 42 29 153 85
Securities gains, net 0 3 5 9
Other income 34 26 46 57
Total noninterest income 512 514 1,504 1,541
NONINTEREST EXPENSE:        
Salaries and employee benefits 639 509 1,916 1,581
Equipment and software 159 157 478 464
Outside services 172 144 530 420
Occupancy 106 77 300 247
Other operating expense 165 124 428 308
Total noninterest expense 1,241 1,011 3,652 3,020
Income before income tax expense 813 681 1,827 2,293
Income tax expense 177 151 407 504
NET INCOME 636 530 1,420 1,789
Net income available to common stockholders $ 611 $ 504 $ 1,339 $ 1,708
Weighted-average common shares outstanding:        
Basic (in Shares) 495,651,083 426,086,717 470,118,265 425,996,867
Diluted (in Shares) 497,477,501 427,840,964 471,958,310 427,679,885
Per common share information:        
Basic earnings (in dollars per share) $ 1.23 $ 1.18 $ 2.85 $ 4.01
Diluted earnings (in dollars per Share) $ 1.23 $ 1.18 $ 2.84 $ 3.99