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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including loans held for sale $ 6,605 $ 5,753 $ 12,972 $ 11,607
Investment securities 435 370 837 761
Other 55 16 70 32
Total interest income 7,095 6,139 13,879 12,400
Interest expense:        
Deposits 293 237 511 506
Securitized debt obligations 65 28 94 60
Senior and subordinated notes 194 122 325 251
Other borrowings 26 9 35 18
Total interest expense 578 396 965 835
Net interest income 6,517 5,743 12,914 11,565
Provision (benefit) for credit losses 1,085 (1,160) 1,762 (1,983)
Net interest income after provision for credit losses 5,432 6,903 11,152 13,548
Non-interest income:        
Interchange fees, net 1,201 1,016 2,234 1,833
Service charges and other customer-related fees 415 384 815 736
Other 99 231 442 353
Total non-interest income 1,715 1,631 3,491 2,922
Non-interest expense:        
Salaries and associate benefits 1,946 1,781 3,972 3,628
Occupancy and equipment 481 523 994 995
Marketing 1,003 620 1,921 1,121
Professional services 458 341 855 633
Communications and data processing 339 315 678 617
Amortization of Intangible Assets 14 5 28 11
Other 342 381 686 701
Total non-interest expense 4,583 3,966 9,134 7,706
Income from continuing operations before income taxes 2,564 4,568 5,509 8,764
Income tax provision 533 1,031 1,075 1,900
Income from continuing operations, net of tax 2,031 3,537 4,434 6,864
Income (loss) from discontinued operations, net of tax 0 (1) 0 (3)
Net income 2,031 3,536 4,434 6,861
Dividends and undistributed earnings allocated to participating securities (25) (30) (53) (58)
Preferred stock dividends (57) (60) (114) (121)
Net income available to common stockholders $ 1,949 $ 3,446 $ 4,267 $ 6,682
Basic earnings per common share:        
Net income from continuing operations $ 4.98 $ 7.65 $ 10.65 $ 14.70
Net income (loss) per basic common share 4.98 7.65 10.65 14.70
Diluted earnings per common share:        
Net income from continuing operations 4.96 7.62 10.61 14.65
Net income (loss) per diluted common share $ 4.96 $ 7.62 $ 10.61 $ 14.65