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, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Loans and leases $ 8,920 $ 8,219 $ 17,674 $ 16,479
Debt securities 2,594 2,261 5,135 4,778
Federal funds sold and securities borrowed or purchased under agreements to resell 560 260 999 536
Trading account assets 1,163 1,075 2,239 2,254
Other interest income 909 759 1,809 1,535
Total interest income 14,146 12,574 27,856 25,582
Interest expense        
Deposits 346 245 628 470
Short-term borrowings 917 626 1,564 1,239
Trading account liabilities 307 242 571 534
Long-term debt 1,590 1,343 3,049 2,736
Total interest expense 3,160 2,456 5,812 4,979
Net interest income 10,986 10,118 22,044 20,603
Noninterest income        
Card income 1,469 1,464 2,918 2,894
Service charges 1,977 1,871 3,895 3,708
Investment and brokerage services 3,317 3,201 6,579 6,383
Investment banking income 1,532 1,408 3,116 2,561
Trading account profits 1,956 2,018 4,287 3,680
Mortgage banking income 230 312 352 745
Gains on sales of debt securities 101 249 153 439
Other income 1,261 645 1,733 1,063
Total noninterest income 11,843 11,168 23,033 21,473
Total revenue, net of interest expense 22,829 21,286 45,077 42,076
Provision for credit losses 726 976 1,561 1,973
Noninterest expense        
Personnel 7,712 7,722 16,870 16,574
Occupancy 1,001 1,036 2,001 2,064
Equipment 427 451 865 914
Marketing 442 414 774 833
Professional fees 485 472 941 897
Amortization of intangibles 160 186 322 373
Data processing 773 717 1,567 1,555
Telecommunications 177 189 368 362
Other general operating 2,549 2,306 4,866 4,737
Total noninterest expense 13,726 13,493 28,574 28,309
Income before income taxes 8,377 6,817 14,942 11,794
Income tax expense 3,108 2,034 4,817 3,539
Net income 5,269 4,783 10,125 8,255
Preferred stock dividends 361 361 863 818
Net income applicable to common shareholders $ 4,908 $ 4,422 $ 9,262 $ 7,437
Per common share information        
Earnings (in dollars per share) $ 0.49 $ 0.43 $ 0.92 $ 0.72
Diluted earnings (in dollars per share) 0.46 0.41 0.87 0.68
Dividends paid (in dollars per share) $ 0.075 $ 0.05 $ 0.15 $ 0.10
Average common shares issued and outstanding (in thousands) (in shares) 10,013,503 10,328,424 10,056,111 10,308,241
Average diluted common shares issued and outstanding (in thousands) (in shares) 10,822,069 11,059,167 10,868,431 11,079,939