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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans, including loans held for sale $ 6,205 $ 5,758 $ 17,812 $ 18,120
Investment securities 317 443 1,078 1,455
Other 16 14 48 67
Total interest income 6,538 6,215 18,938 19,642
Interest expense:        
Deposits 228 476 734 1,818
Securitized debt obligations 29 43 89 198
Senior and subordinated notes 116 132 367 551
Other borrowings 9 9 27 35
Total interest expense 382 660 1,217 2,602
Net interest income 6,156 5,555 17,721 17,040
Provision (benefit) for credit losses (342) 331 (2,325) 10,000
Net interest income after provision for credit losses 6,498 5,224 20,046 7,040
Non-interest income:        
Interchange fees, net 1,022 775 2,855 2,199
Service charges and other customer-related fees 407 320 1,143 905
Net securities gains 2 25 6 25
Other 243 706 592 1,017
Total non-interest income 1,674 1,826 4,596 4,146
Non-interest expense:        
Salaries and associate benefits 1,852 1,719 5,480 5,050
Occupancy and equipment 481 506 1,476 1,546
Marketing 751 283 1,872 1,047
Professional services 358 327 991 918
Communications and data processing 319 310 936 920
Amortization of intangibles 5 14 16 52
Other 420 389 1,121 1,514
Total non-interest expense 4,186 3,548 11,892 11,047
Income from continuing operations before income taxes 3,986 3,502 12,750 139
Income tax provision (benefit) 882 1,096 2,782 (10)
Income from continuing operations, net of tax 3,104 2,406 9,968 149
Income (loss) from discontinued operations, net of tax 0 0 (3) (1)
Net income 3,104 2,406 9,965 148
Dividends and undistributed earnings allocated to participating securities (26) (20) (84) (5)
Preferred stock dividends (79) (67) (200) (212)
Issuance cost for redeemed preferred stock (12) 0 (12) (22)
Net income (loss) available to common stockholders $ 2,987 $ 2,319 $ 9,669 $ (91)
Basic earnings per common share:        
Net income (loss) from continuing operations $ 6.81 $ 5.07 $ 21.53 $ (0.20)
Income (loss) from discontinued operations 0.00 0.00 (0.01) 0.00
Net income (loss) per basic common share 6.81 5.07 21.52 (0.20)
Diluted earnings per common share:        
Net income (loss) from continuing operations 6.78 5.06 21.45 (0.20)
Income (loss) from discontinued operations 0.00 0.00 (0.01) 0.00
Net income (loss) per diluted common share $ 6.78 $ 5.06 $ 21.44 $ (0.20)