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, 2014
Mar. 31, 2013
Interest income    
Loans and leases $ 8,760 $ 9,178
Debt securities 1,997 2,549
Federal funds sold and securities borrowed or purchased under agreements to resell 265 315
Trading account assets 1,177 1,337
Other interest income 736 722
Total interest income 12,935 14,101
Interest expense    
Deposits 291 382
Short-term borrowings 609 749
Trading account liabilities 435 472
Long-term debt 1,515 1,834
Total interest expense 2,850 3,437
Net interest income 10,085 10,664
Noninterest income    
Card income 1,393 1,410
Service charges 1,826 1,799
Investment and brokerage services 3,269 3,027
Investment banking income 1,542 1,535
Equity investment income 784 563
Trading account profits 2,467 2,989
Mortgage banking income 412 1,263
Gains on sales of debt securities 377 68
Other income (loss) 412 (112)
Other-than-temporary impairment losses on available-for-sale debt securities:    
Total other-than-temporary impairment losses (1) (14)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income 0 5
Net impairment losses recognized in earnings on available-for-sale debt securities (1) (9)
Total noninterest income 12,481 [1] 12,533 [1]
Total revenue, net of interest expense 22,566 [1] 23,197 [1]
Provision for credit losses 1,009 [1] 1,713 [1]
Noninterest expense    
Personnel 9,749 9,891
Occupancy 1,115 1,154
Equipment 546 550
Marketing 442 429
Professional fees 558 649
Amortization of intangibles 239 [1] 276 [1]
Data processing 833 812
Telecommunications 370 409
Other general operating 8,386 5,330
Total noninterest expense 22,238 19,500
Income (loss) before income taxes (681) 1,984
Income tax expense (benefit) (405) 501
Net income (loss) (276) [1] 1,483 [1]
Preferred stock dividends 238 373
Net income applicable to common shareholders $ (514) $ 1,110
Per common share information    
Earnings (in dollars per share) $ (0.05) $ 0.10
Diluted earnings (in dollars per share) $ (0.05) $ 0.10
Dividends paid (in dollars per share) $ 0.01 $ 0.01
Average common shares issued and outstanding (in thousands) 10,560,518 10,798,975
Average diluted common shares issued and outstanding (in thousands) 10,560,518 11,154,778
[1] There were no material intersegment revenues.