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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME:        
Interest and fees on loans and leases $ 2,132 $ 1,370 $ 4,179 $ 2,418
Interest and fees on loans held for sale 20 17 35 33
Interest and fees on other loans held for sale 12 25 17 32
Investment securities 267 201 533 339
Interest-bearing deposits in banks 100 13 169 17
Total interest income 2,531 1,626 4,933 2,839
INTEREST EXPENSE:        
Deposits 723 54 1,273 79
Short-term borrowed funds 22 10 28 10
Long-term borrowed funds 198 57 401 98
Total interest expense 943 121 1,702 187
Net interest income 1,588 1,505 3,231 2,652
Provision (benefit) for credit losses 176 216 344 219
Net interest income after provision (benefit) for credit losses 1,412 1,289 2,887 2,433
NONINTEREST INCOME:        
Service charges and fees 101 108 201 206
Capital markets fees 82 88 165 181
Card fees 80 71 152 131
Mortgage banking fees 59 72 116 141
Trust and investment services fees 65 66 128 127
Foreign exchange and derivative products 44 60 92 111
Letter of credit and loan fees 43 40 83 78
Securities gains, net 9 1 14 5
Other income 23 (12) 40 12
Total noninterest income 506 494 991 992
NONINTEREST EXPENSE:        
Salaries and employee benefits 615 683 1,273 1,277
Outside services 177 189 353 358
Equipment and software 181 169 350 319
Occupancy 136 111 260 194
Other operating expense 197 153 366 263
Total noninterest expense 1,306 1,305 2,602 2,411
Income before income tax expense 612 478 1,276 1,014
Income tax expense 134 114 287 230
NET INCOME 478 364 989 784
Net income available to common stockholders $ 444 $ 332 $ 932 $ 728
Weighted-average common shares outstanding:        
Basic (in Shares) 479,470,543 491,497,026 482,440,926 457,140,258
Diluted (in Shares) 480,975,281 493,296,114 484,252,103 459,167,747
Per common share information:        
Basic earnings (in dollars per share) $ 0.93 $ 0.68 $ 1.93 $ 1.59
Diluted earnings (in dollars per Share) $ 0.92 $ 0.67 $ 1.92 $ 1.58