Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Income

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Consolidated Statement of Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest income    
Loans and leases $ 10,173 $ 11,929
Debt securities 2,725 2,882
Federal funds sold and securities borrowed or purchased under agreements to resell 460 517
Trading account assets 1,352 1,626
Other interest income 751 968
Total interest income 15,461 17,922
Interest expense    
Deposits 549 839
Short-term borrowings 881 1,184
Trading account liabilities 477 627
Long-term debt 2,708 3,093
Total interest expense 4,615 5,743
Net interest income 10,846 12,179
Noninterest income    
Card income 1,457 1,828
Service charges 1,912 2,032
Investment and brokerage services 2,876 3,101
Investment banking income 1,217 1,578
Equity investment income 765 1,475
Trading account profits 2,075 2,722
Mortgage banking income 1,612 630
Insurance income (loss) (60) 613
Gains on sales of debt securities 752 546
Other income (1,134) 261
Other-than-temporary impairment losses on available-for-sale debt securities:    
Total other-than-temporary impairment losses (51) (111)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income 11 23
Net impairment losses recognized in earnings on available-for-sale debt securities (40) (88)
Total noninterest income 11,432 14,698
Total revenue, net of interest expense 22,278 26,877
Provision for credit losses 2,418 3,814
Noninterest expense    
Personnel 10,188 10,168
Occupancy 1,142 1,189
Equipment 611 606
Marketing 465 564
Professional fees 783 646
Amortization of intangibles 319 385
Data processing 856 695
Telecommunications 400 371
Other general operating 4,377 5,457
Merger and restructuring charges 0 202
Total noninterest expense 19,141 20,283
Income (loss) before income taxes 719 2,780
Income tax expense (benefit) 66 731
Net income (loss) 653 2,049
Preferred stock dividends 325 310
Net income applicable to common shareholders $ 328 $ 1,739
Per common share information    
Earnings $ 0.03 $ 0.17
Diluted earnings $ 0.03 $ 0.17
Dividends paid $ 0.01 $ 0.01
Average common shares issued and outstanding (in thousands) 10,651,367 10,075,875
Average diluted common shares issued and outstanding (in thousands) 10,761,917 10,181,351