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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans, including loans held for sale $ 5,758 $ 6,429 $ 18,120 $ 19,180
Investment securities 443 583 1,455 1,867
Other 14 63 67 196
Total interest income 6,215 7,075 19,642 21,243
Interest expense:        
Deposits 476 901 1,818 2,588
Securitized debt obligations 43 123 198 405
Senior and subordinated notes 132 299 551 923
Other borrowings 9 15 35 53
Total interest expense 660 1,338 2,602 3,969
Net interest income 5,555 5,737 17,040 17,274
Provision for credit losses 331 1,383 10,000 4,418
Net interest income after provision for credit losses 5,224 4,354 7,040 12,856
Non-interest income:        
Interchange fees, net 775 790 2,199 2,368
Service charges and other customer-related fees 320 283 905 988
Net securities gains 25 5 25 44
Other 706 144 1,017 492
Total non-interest income 1,826 1,222 4,146 3,892
Non-interest expense:        
Salaries and associate benefits 1,719 1,605 5,050 4,736
Occupancy and equipment 506 519 1,546 1,533
Marketing 283 501 1,047 1,564
Professional services 327 314 918 919
Communications and data processing 310 312 920 944
Amortization of intangibles 14 25 52 84
Other 389 596 1,514 1,542
Total non-interest expense 3,548 3,872 11,047 11,322
Income from continuing operations before income taxes 3,502 1,704 139 5,426
Income tax provision (benefit) 1,096 375 (10) 1,071
Income from continuing operations, net of tax 2,406 1,329 149 4,355
Income (loss) from discontinued operations, net of tax 0 4 (1) 15
Net income 2,406 1,333 148 4,370
Dividends and undistributed earnings allocated to participating securities (20) (10) (5) (34)
Preferred stock dividends (67) (53) (212) (185)
Issuance cost for redeemed preferred stock 0 0 (22) 0
Net income (loss) available to common stockholders $ 2,319 $ 1,270 $ (91) $ 4,151
Basic earnings per common share:        
Net income (loss) from continuing operations $ 5.07 $ 2.70 $ (0.20) $ 8.80
Income from discontinued operations 0.00 0.01 0.00 0.03
Net income (loss) per basic common share 5.07 2.71 (0.20) 8.83
Diluted earnings per common share:        
Net income (loss) from continuing operations 5.06 2.68 (0.20) 8.76
Income from discontinued operations (in dollars per share) 0.00 0.01 0.00 0.03
Net income (loss) per diluted common share $ 5.06 $ 2.69 $ (0.20) $ 8.79