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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans, including loans held for sale $ 5,854 $ 6,542
Investment securities 391 530
Other 16 37
Total interest income 6,261 7,109
Interest expense:    
Deposits 269 731
Securitized debt obligations 32 99
Senior and subordinated notes 129 239
Other borrowings 9 15
Total interest expense 439 1,084
Net interest income 5,822 6,025
Provision (benefit) for credit losses (823) 5,423
Net interest income after provision for credit losses 6,645 602
Non-interest income:    
Interchange fees, net 817 752
Service charges and other customer-related fees 352 327
Net securities gains 4 0
Other 118 145
Total non-interest income 1,291 1,224
Non-interest expense:    
Salaries and associate benefits 1,847 1,627
Occupancy and equipment 472 517
Marketing 501 491
Professional services 292 287
Communications and data processing 302 302
Amortization of intangibles 6 22
Other 320 483
Total non-interest expense 3,740 3,729
Income (loss) from continuing operations before income taxes 4,196 (1,903)
Income tax provision (benefit) 869 (563)
Income (loss) from continuing operations, net of tax 3,327 (1,340)
Loss from discontinued operations, net of tax (2) 0
Net income (loss) 3,325 (1,340)
Dividends and undistributed earnings allocated to participating securities (28) (3)
Preferred stock dividends (61) (55)
Issuance cost for redeemed preferred stock 0 (22)
Net income (loss) available to common stockholders $ 3,236 $ (1,420)
Basic earnings per common share:    
Net income (loss) from continuing operations $ 7.06 $ (3.10)
Net income (loss) per basic common share 7.06 (3.10)
Diluted earnings per common share:    
Net income (loss) from continuing operations 7.03 (3.10)
Net income (loss) per diluted common share $ 7.03 $ (3.10)