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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income        
Loans and leases $ 8,535 $ 9,146 $ 25,930 $ 27,384
Debt securities 2,225 2,205 6,346 7,302
Federal funds sold and securities borrowed or purchased under agreements to resell 239 291 801 925
Trading account assets 1,111 1,049 3,463 3,567
Other interest income 748 691 2,194 2,130
Total interest income 12,858 13,382 38,734 41,308
Interest expense        
Deposits 270 334 843 1,082
Short-term borrowings 591 683 1,963 2,241
Trading account liabilities 392 375 1,225 1,274
Long-term debt 1,386 1,724 4,386 5,232
Total interest expense 2,639 3,116 8,417 9,829
Net interest income 10,219 10,266 30,317 31,479
Noninterest income        
Card income 1,500 1,444 4,334 4,323
Service charges 1,907 1,884 5,599 5,520
Investment and brokerage services 3,327 2,995 9,887 9,165
Investment banking income 1,351 1,297 4,524 4,388
Equity investment income 9 1,184 1,150 2,427
Trading account profits 1,899 1,266 6,198 6,193
Mortgage banking income 272 585 1,211 3,026
Gains on sales of debt securities 432 356 1,191 881
Other income 293 253 1,111 52
Total noninterest income 10,990 [1] 11,264 [1] 35,205 [1] 35,975 [1]
Total revenue, net of interest expense 21,209 21,530 65,522 67,454
Provision for credit losses 636 [1] 296 [1] 2,056 [1] 3,220 [1]
Noninterest expense        
Personnel 8,039 8,310 26,094 26,732
Occupancy 1,070 1,096 3,264 3,359
Equipment 514 538 1,594 1,620
Marketing 446 511 1,338 1,377
Professional fees 611 702 1,795 2,045
Amortization of intangibles 234 [1] 270 [1] 708 [1] 820 [1]
Data processing 754 779 2,348 2,370
Telecommunications 311 397 1,005 1,217
Other general operating 8,163 3,786 22,775 12,367
Total noninterest expense 20,142 16,389 60,921 51,907
Income before income taxes 431 4,845 2,545 12,327
Income tax expense 663 2,348 762 4,335
Net income (loss) (232) [1] 2,497 [1] 1,783 [1] 7,992 [1]
Preferred stock dividends 238 279 732 1,093
Net income (loss) applicable to common shareholders $ (470) $ 2,218 $ 1,051 $ 6,899
Per common share information        
Earnings (in dollars per share) $ (0.04) $ 0.21 $ 0.10 $ 0.64
Diluted earnings (in dollars per share) $ (0.04) $ 0.20 $ 0.10 $ 0.62
Dividends paid (in dollars per share) $ 0.05 $ 0.01 $ 0.07 $ 0.03
Average common shares issued and outstanding (in thousands) 10,515,790 10,718,918 10,531,688 10,764,216
Average diluted common shares issued and outstanding (in thousands) 10,515,790 11,482,226 10,587,841 11,523,649
[1] There were no material intersegment revenues.