Selected Quarterly Financial Information Selected Quarterly Financial Information

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information

(Dollars in millions, except per share data and as noted) (unaudited)	2016												2015
	Q4			Q3			Q2			Q1			Q4			Q3			Q2			Q1
Summarized results of operations:
Interest income	$	6,009		$	5,794		$	5,571		$	5,517		$	5,384		$	5,164		$	4,937		$	4,974
Interest expense	562			517			478			461			423			404			400			398
Net interest income	5,447			5,277			5,093			5,056			4,961			4,760			4,537			4,576
Provision for credit losses	1,752			1,588			1,592			1,527			1,380			1,092			1,129			935
Net interest income after provision for credit losses	3,695			3,689			3,501			3,529			3,581			3,668			3,408			3,641
Non-interest income	1,119			1,184			1,161			1,164			1,233			1,140			1,135			1,071
Non-interest expense	3,679			3,361			3,295			3,223			3,480			3,160			3,307			3,049
Income from continuing operations before income taxes	1,135			1,512			1,367			1,470			1,334			1,648			1,236			1,663
Income tax provision	342			496			424			452			426			530			384			529
Income from continuing operations, net of tax	793			1,016			943			1,018			908			1,118			852			1,134
Income (loss) from discontinued operations, net of tax	(2		)	(11		)	(1		)	(5		)	12			(4		)	11			19
Net income	791			1,005			942			1,013			920			1,114			863			1,153
Dividends and undistributed earnings allocated to participating securities(1)	(6		)	(6		)	(6		)	(6		)	(4		)	(6		)	(4		)	(6		)
Preferred stock dividends	(75		)	(37		)	(65		)	(37		)	(68		)	(29		)	(29		)	(32		)
Net income available to common stockholders	$	710		$	962		$	871		$	970		$	848		$	1,079		$	830		$	1,115
Common share statistics:
Basic earnings per common share:(1)
Net income from continuing operations	$	1.47		$	1.94		$	1.70		$	1.86		$	1.58		$	2.01		$	1.50		$	2.00
Income (loss) from discontinued operations	0.00			(0.02		)	0.00			(0.01		)	0.02			(0.01		)	0.02			0.03
Net income per basic common share	$	1.47		$	1.92		$	1.70		$	1.85		$	1.60		$	2.00		$	1.52		$	2.03
Diluted earnings per common share:(1)
Net income from continuing operations	$	1.45		$	1.92		$	1.69		$	1.85		$	1.56		$	1.99		$	1.48		$	1.97
Income (loss) from discontinued operations	0.00			(0.02		)	0.00			(0.01		)	0.02			(0.01		)	0.02			0.03
Net income per diluted common share	$	1.45		$	1.90		$	1.69		$	1.84		$	1.58		$	1.98		$	1.50		$	2.00
Weighted-average common shares outstanding (in millions):
Basic common shares	483.5			501.1			511.7			523.5			530.8			540.6			545.6			550.2
Diluted common shares	489.2			505.9			516.5			528.0			536.3			546.3			552.0			557.2
Balance sheet (average balances):
Loans held for investment	$	240,027		$	235,843		$	230,379		$	226,736		$	220,052		$	211,227		$	206,337		$	205,194
Interest-earning assets	317,853			310,987			302,764			299,456			292,054			283,082			276,585			278,427
Total assets	350,225			343,153			334,479			331,919			323,354			313,822			307,206			309,401
Interest-bearing deposits	206,464			196,913			195,641			194,125			189,885			185,800			183,946			182,998
Total deposits	232,204			222,251			221,146			219,180			215,899			210,974			209,143			207,851
Borrowings	58,624			60,708			54,359			53,761			48,850			45,070			41,650			46,082
Total stockholders’ equity	47,972			49,033			48,934			49,078			48,712			48,456			47,255			46,397

__________

⁽¹⁾  Dividends and undistributed earnings allocated to participating securities, earnings per share and preferred stock dividends are computed independently for each period. Accordingly, the sum of each quarter may not agree to the year-to-date total.