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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME:        
Interest and fees on loans and leases $ 2,166 $ 1,657 $ 6,345 $ 4,075
Interest and fees on loans held for sale 20 18 55 51
Interest and fees on other loans held for sale 8 15 25 47
Investment securities 290 243 823 582
Interest-bearing deposits in banks 111 36 280 53
Total interest income 2,595 1,969 7,528 4,808
INTEREST EXPENSE:        
Deposits 898 176 2,171 255
Short-term borrowed funds 8 11 36 21
Long-term borrowed funds 167 117 568 215
Total interest expense 1,073 304 2,775 491
Net interest income 1,522 1,665 4,753 4,317
Provision (benefit) for credit losses 172 123 516 342
Net interest income after provision (benefit) for credit losses 1,350 1,542 4,237 3,975
NONINTEREST INCOME:        
Service charges and fees 105 109 306 315
Capital markets fees 67 89 232 270
Card fees 74 71 226 202
Mortgage banking fees 69 66 185 207
Trust and investment services fees 63 61 191 188
Foreign exchange and derivative products 48 42 140 153
Letter of credit and loan fees 43 40 126 118
Securities gains, net 5 0 19 5
Other income 18 34 58 46
Total noninterest income 492 512 1,483 1,504
NONINTEREST EXPENSE:        
Salaries and employee benefits 659 639 1,932 1,916
Outside services 160 172 513 530
Equipment and software 191 159 541 478
Occupancy 107 106 367 300
Other operating expense 176 165 542 428
Total noninterest expense 1,293 1,241 3,895 3,652
Income before income tax expense 549 813 1,825 1,827
Income tax expense 119 177 406 407
NET INCOME 430 636 1,419 1,420
Net income available to common stockholders $ 400 $ 611 $ 1,332 $ 1,339
Weighted-average common shares outstanding:        
Basic (in Shares) 469,481,085 495,651,083 478,073,507 470,118,265
Diluted (in Shares) 471,183,719 497,477,501 479,733,008 471,958,310
Per common share information:        
Basic earnings (in dollars per share) $ 0.85 $ 1.23 $ 2.79 $ 2.85
Diluted earnings (in dollars per Share) $ 0.85 $ 1.23 $ 2.78 $ 2.84