Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Income

v3.5.0.2
Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Loans and leases $ 8,219 $ 7,951 $ 16,479 $ 15,947
Debt securities 1,355 3,070 2,559 4,957
Federal funds sold and securities borrowed or purchased under agreements to resell 260 268 536 499
Trading account assets 1,075 1,074 2,254 2,157
Other interest income 759 742 1,535 1,468
Total interest income 11,668 13,105 23,363 25,028
Interest expense        
Deposits 245 216 470 436
Short-term borrowings 625 686 1,239 1,271
Trading account liabilities 242 335 534 729
Long-term debt 1,343 1,407 2,736 2,720
Total interest expense 2,455 2,644 4,979 5,156
Net interest income 9,213 10,461 18,384 19,872
Noninterest income        
Card income 1,464 1,477 2,894 2,871
Service charges 1,871 1,857 3,708 3,621
Investment and brokerage services 3,201 3,387 6,383 6,765
Investment banking income 1,408 1,526 2,561 3,013
Trading account profits 2,018 1,647 3,680 3,894
Mortgage banking income 312 1,001 745 1,695
Gains on sales of debt securities 267 168 493 436
Other income 644 432 1,062 703
Total noninterest income 11,185 11,495 21,526 22,998
Total revenue, net of interest expense 20,398 21,956 39,910 42,870
Provision for credit losses 976 780 1,973 1,545
Noninterest expense        
Personnel 7,722 7,890 16,574 17,504
Occupancy 1,036 1,027 2,064 2,054
Equipment 451 500 914 1,012
Marketing 414 445 833 885
Professional fees 472 494 897 915
Amortization of intangibles 186 212 373 425
Data processing 717 715 1,555 1,567
Telecommunications 189 202 362 373
Other general operating 2,306 2,473 4,737 5,050
Total noninterest expense 13,493 13,958 28,309 29,785
Income before income taxes 5,929 7,218 9,628 11,540
Income tax expense 1,697 2,084 2,716 3,309
Net income 4,232 5,134 6,912 8,231
Preferred stock dividends 361 330 818 712
Net income applicable to common shareholders $ 3,871 $ 4,804 $ 6,094 $ 7,519
Per common share information        
Earnings (in dollars per share) $ 0.38 $ 0.46 $ 0.59 $ 0.72
Diluted earnings (in dollars per share) 0.36 0.43 0.56 0.68
Dividends paid (in dollars per share) $ 0.05 $ 0.05 $ 0.10 $ 0.10
Average common shares issued and outstanding (in shares, in thousands) 10,253,573 10,488,137 10,296,652 10,503,379
Average diluted common shares issued and outstanding (in shares, in thousands) 11,059,167 11,238,060 11,079,939 11,252,417