Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Income

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Consolidated Statement of Income (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest income      
Loans and leases $ 36,470,000,000 $ 38,880,000,000 $ 44,966,000,000
Debt securities 9,749,000,000 8,908,000,000 9,525,000,000
Federal funds sold and securities borrowed or purchased under agreements to resell 1,229,000,000 1,502,000,000 2,147,000,000
Trading account assets 4,706,000,000 5,094,000,000 5,961,000,000
Other interest income 2,866,000,000 3,016,000,000 3,637,000,000
Total interest income 55,020,000,000 57,400,000,000 66,236,000,000
Interest expense      
Deposits 1,396,000,000 1,990,000,000 3,002,000,000
Short-term borrowings 2,923,000,000 3,572,000,000 4,599,000,000
Trading account liabilities 1,638,000,000 1,763,000,000 2,212,000,000
Long-term debt 6,798,000,000 9,419,000,000 11,807,000,000
Total interest expense 12,755,000,000 16,744,000,000 21,620,000,000
Net interest income 42,265,000,000 40,656,000,000 44,616,000,000
Noninterest income      
Card income 5,826,000,000 6,121,000,000 7,184,000,000
Service charges 7,390,000,000 7,600,000,000 8,094,000,000
Investment and brokerage services 12,282,000,000 11,393,000,000 11,826,000,000
Investment banking income 6,126,000,000 5,299,000,000 5,217,000,000
Equity investment income 2,901,000,000 2,070,000,000 7,360,000,000
Trading account profits 7,056,000,000 5,870,000,000 6,697,000,000
Mortgage banking income (loss) 3,874,000,000 4,750,000,000 (8,830,000,000)
Gains on sales of debt securities 1,271,000,000 1,662,000,000 3,374,000,000
Other income (loss) (29,000,000) (2,034,000,000) 8,215,000,000
Other-than-temporary impairment losses on available-for-sale debt securities:      
Total other-than-temporary impairment losses (21,000,000) (57,000,000) (360,000,000)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income 1,000,000 4,000,000 61,000,000
Net impairment losses recognized in earnings on available-for-sale debt securities (20,000,000) (53,000,000) (299,000,000)
Total noninterest income 46,677,000,000 [1] 42,678,000,000 [1] 48,838,000,000 [1]
Total revenue, net of interest expense 88,942,000,000 [2] 83,334,000,000 [2] 93,454,000,000 [2]
Provision for credit losses 3,556,000,000 [1] 8,169,000,000 [1] 13,410,000,000 [1]
Noninterest expense      
Personnel 34,719,000,000 35,648,000,000 36,965,000,000
Occupancy 4,475,000,000 4,570,000,000 4,748,000,000
Equipment 2,146,000,000 2,269,000,000 2,340,000,000
Marketing 1,834,000,000 1,873,000,000 2,203,000,000
Professional fees 2,884,000,000 3,574,000,000 3,381,000,000
Amortization of intangibles 1,086,000,000 [1] 1,264,000,000 [1] 1,509,000,000 [1]
Data processing 3,170,000,000 2,961,000,000 2,652,000,000
Telecommunications 1,593,000,000 1,660,000,000 1,553,000,000
Other general operating 17,307,000,000 18,274,000,000 21,101,000,000
Goodwill impairment    [1]    [1] 3,184,000,000 [1]
Merger and restructuring charges       638,000,000
Total noninterest expense 69,214,000,000 72,093,000,000 80,274,000,000
Income (loss) before income taxes 16,172,000,000 3,072,000,000 (230,000,000)
Income tax expense (benefit) 4,741,000,000 (1,116,000,000) (1,676,000,000)
Net income (loss) 11,431,000,000 [1] 4,188,000,000 [1] 1,446,000,000 [1]
Preferred stock dividends 1,349,000,000 1,428,000,000 1,361,000,000
Net income applicable to common shareholders $ 10,082,000,000 $ 2,760,000,000 $ 85,000,000
Per common share information      
Earnings (in dollars per share) $ 0.94 $ 0.26 $ 0.01
Diluted earnings (in dollars per share) $ 0.90 $ 0.25 $ 0.01
Dividends paid (in dollars per share) $ 0.04 $ 0.04 $ 0.04
Average common shares issued and outstanding (in thousands) 10,731,165 10,746,028 10,142,625
Average diluted common shares issued and outstanding (in thousands) 11,491,418 10,840,854 10,254,824
[1] There were no material intersegment revenues.
[2] There were no material intercompany revenues between geographic regions for any of the periods presented.