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 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income        
Loans and leases $ 8,005 $ 8,535 $ 24,019 $ 25,930
Debt securities 1,839 2,225 6,796 6,346
Federal funds sold and securities borrowed or purchased under agreements to resell 275 239 774 801
Trading account assets 1,134 1,111 3,291 3,463
Other interest income 754 748 2,222 2,194
Total interest income 12,007 12,858 37,102 38,734
Interest expense        
Deposits 214 270 650 843
Short-term borrowings 597 591 1,868 1,963
Trading account liabilities 342 392 1,071 1,225
Long-term debt 1,343 1,386 4,063 4,386
Total interest expense 2,496 2,639 7,652 8,417
Net interest income 9,511 10,219 29,450 30,317
Noninterest income        
Card income 1,510 1,500 4,381 4,334
Service charges 1,898 1,907 5,519 5,599
Investment and brokerage services 3,336 3,327 10,101 9,887
Investment banking income 1,287 1,351 4,300 4,524
Equity investment income (loss) (31) 9 84 1,150
Trading account profits 1,616 1,899 5,510 6,198
Mortgage banking income 407 272 2,102 1,211
Gains on sales of debt securities 385 432 821 1,191
Other income 763 293 1,733 1,111
Total noninterest income 11,171 10,990 34,551 35,205
Total revenue, net of interest expense 20,682 21,209 64,001 65,522
Provision for credit losses 806 636 2,351 2,056
Noninterest expense        
Personnel 7,829 8,039 25,333 26,094
Occupancy 1,028 1,070 3,082 3,264
Equipment 499 514 1,511 1,594
Marketing 445 446 1,330 1,338
Professional fees 673 611 1,588 1,795
Amortization of intangibles 207 234 632 708
Data processing 731 754 2,298 2,348
Telecommunications 210 311 583 1,005
Other general operating 2,185 8,163 6,963 22,775
Total noninterest expense 13,807 20,142 43,320 60,921
Income before income taxes 6,069 431 18,330 2,545
Income tax expense 1,561 663 5,145 762
Net income (loss) 4,508 (232) 13,185 1,783
Preferred stock dividends 441 238 1,153 732
Net income (loss) applicable to common shareholders $ 4,067 $ (470) $ 12,032 $ 1,051
Per common share information        
Earnings (in dollars per share) $ 0.39 $ (0.04) $ 1.15 $ 0.10
Diluted earnings (in dollars per share) 0.37 (0.04) 1.09 0.10
Dividends paid (in dollars per share) $ 0.05 $ 0.05 $ 0.15 $ 0.07
Average common shares issued and outstanding (in thousands) 10,444,291 10,515,790 10,483,466 10,531,688
Average diluted common shares issued and outstanding (in thousands) 11,197,203 10,515,790 11,234,125 10,587,841