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 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Loans and leases $ 8,358 $ 7,965 $ 24,837 $ 23,912
Debt securities 2,144 2,268 6,922 6,726
Federal funds sold and securities borrowed or purchased under agreements to resell 267 275 803 774
Trading account assets 1,076 1,134 3,330 3,291
Other interest income 765 754 2,300 2,221
Total interest income 12,610 12,396 38,192 36,924
Interest expense        
Deposits 266 214 736 650
Short-term borrowings 569 597 1,808 1,868
Trading account liabilities 244 342 778 1,071
Long-term debt 1,330 1,343 4,066 4,063
Total interest expense 2,409 2,496 7,388 7,652
Net interest income 10,201 9,900 30,804 29,272
Noninterest income        
Card income 1,455 1,510 4,349 4,381
Service charges 1,952 1,898 5,660 5,519
Investment and brokerage services 3,160 3,336 9,543 10,101
Investment banking income 1,458 1,287 4,019 4,300
Trading account profits 2,141 1,616 5,821 5,510
Mortgage banking income 589 407 1,334 2,102
Gains on sales of debt securities 51 437 490 886
Other income 628 601 1,691 1,312
Total noninterest income 11,434 11,092 32,907 34,111
Total revenue, net of interest expense 21,635 20,992 63,711 63,383
Provision for credit losses 850 806 2,823 2,351
Noninterest expense        
Personnel 7,704 7,829 24,278 25,333
Occupancy 1,005 1,028 3,069 3,082
Equipment 443 499 1,357 1,511
Marketing 410 445 1,243 1,330
Professional fees 536 673 1,433 1,588
Amortization of intangibles 181 207 554 632
Data processing 685 731 2,240 2,298
Telecommunications 189 210 551 583
Other general operating 2,328 2,317 7,065 7,367
Total noninterest expense 13,481 13,939 41,790 43,724
Income before income taxes 7,304 6,247 19,098 17,308
Income tax expense 2,349 1,628 5,888 4,756
Net income 4,955 4,619 13,210 12,552
Preferred stock dividends 503 441 1,321 1,153
Net income applicable to common shareholders $ 4,452 $ 4,178 $ 11,889 $ 11,399
Per common share information        
Earnings (in dollars per share) $ 0.43 $ 0.40 $ 1.15 $ 1.09
Diluted earnings (in dollars per share) 0.41 0.38 1.10 1.03
Dividends paid (in dollars per share) $ 0.075 $ 0.05 $ 0.175 $ 0.15
Average common shares issued and outstanding (in shares, in thousands) 10,250,124 10,444,291 10,312,878 10,483,466
Average diluted common shares issued and outstanding (in shares, in thousands) 11,000,473 11,197,203 11,046,807 11,234,125