Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share (Tables)

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Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of earnings per common share (EPS) and diluted EPS for both the three and six months ended June 30, 2015 and 2014 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2014 Annual Report on Form 10-K.

 
Three Months Ended June 30
 
Six Months Ended June 30
(Dollars in millions, except per share information; shares in thousands)
2015
 
2014
 
2015

2014
Earnings per common share
 
 
 
 
 
 
 
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

Average common shares issued and outstanding
10,488,137

 
10,519,359

 
10,503,379

 
10,539,769

Earnings per common share
$
0.48

 
$
0.19

 
$
0.76

 
$
0.14

 
 
 
 
 
 
 
 
Diluted earnings per common share
 
 
 
 
 
 
 
Net income applicable to common shareholders
$
4,990

 
$
2,035

 
$
7,965

 
$
1,521

Add preferred stock dividends due to assumed conversions
75

 
75

 
150

 
—

Net income allocated to common shareholders
$
5,065

 
$
2,110

 
$
8,115

 
$
1,521

Average common shares issued and outstanding
10,488,137

 
10,519,359

 
10,503,379

 
10,539,769

Dilutive potential common shares (1)
749,923

 
745,764

 
749,038

 
59,872

Total diluted average common shares issued and outstanding
11,238,060

 
11,265,123

 
11,252,417

 
10,599,641

Diluted earnings per common share
$
0.45

 
$
0.19

 
$
0.72

 
$
0.14

(1) 
Includes incremental dilutive shares from restricted stock units, restricted stock, stock options and warrants.