Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Income

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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income        
Loans and leases $ 7,978 $ 8,635 $ 16,014 $ 17,395
Debt securities 3,070 2,124 4,957 4,121
Federal funds sold and securities borrowed or purchased under agreements to resell 268 297 499 562
Trading account assets 1,074 1,175 2,157 2,352
Other interest income 742 710 1,468 1,446
Total interest income 13,132 12,941 25,095 25,876
Interest expense        
Deposits 216 282 436 573
Short-term borrowings 686 763 1,271 1,372
Trading account liabilities 335 398 729 833
Long-term debt 1,407 1,485 2,720 3,000
Total interest expense 2,644 2,928 5,156 5,778
Net interest income 10,488 10,013 19,939 20,098
Noninterest income        
Card income 1,477 1,441 2,871 2,834
Service charges 1,857 1,866 3,621 3,692
Investment and brokerage services 3,387 3,291 6,765 6,560
Investment banking income 1,526 1,631 3,013 3,173
Equity investment income 88 357 115 1,141
Trading account profits 1,647 1,832 3,894 4,299
Mortgage banking income 1,001 527 1,695 939
Gains on sales of debt securities 168 382 436 759
Other income 478 407 970 818
Total noninterest income 11,629 11,734 23,380 24,215
Total revenue, net of interest expense 22,117 21,747 43,319 44,313
Provision for credit losses 780 411 1,545 1,420
Noninterest expense        
Personnel 7,890 8,306 17,504 18,055
Occupancy 1,027 1,079 2,054 2,194
Equipment 500 534 1,012 1,080
Marketing 445 450 885 892
Professional fees 494 626 915 1,184
Amortization of intangibles 212 235 425 474
Data processing 715 761 1,567 1,594
Telecommunications 202 324 373 694
Other general operating 2,333 6,226 4,778 14,612
Total noninterest expense 13,818 18,541 29,513 40,779
Income before income taxes 7,519 2,795 12,261 2,114
Income tax expense 2,199 504 3,584 99
Net income 5,320 2,291 8,677 2,015
Preferred stock dividends 330 256 712 494
Net income applicable to common shareholders $ 4,990 $ 2,035 $ 7,965 $ 1,521
Per common share information        
Earnings (in dollars per share) $ 0.48 $ 0.19 $ 0.76 $ 0.14
Diluted earnings (in dollars per share) 0.45 0.19 0.72 0.14
Dividends paid (in dollars per share) $ 0.05 $ 0.01 $ 0.10 $ 0.02
Average common shares issued and outstanding (in thousands) 10,488,137 10,519,359 10,503,379 10,539,769
Average diluted common shares issued and outstanding (in thousands) 11,238,060 11,265,123 11,252,417 10,599,641