Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share (Tables)

v3.7.0.1
Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2017
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 the three and six months ended June 30, 2017 and 2016 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 2016 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)
2017
 
2016
 
2017
 
2016
Earnings per common share
 

 
 

 
 
 
 

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

Average common shares issued and outstanding
10,013,503

 
10,328,424

 
10,056,111

 
10,308,241

Earnings per common share
$
0.49

 
$
0.43

 
$
0.92

 
$
0.72

 
 
 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 

 
 

Net income applicable to common shareholders
$
4,908

 
$
4,422

 
$
9,262

 
$
7,437

Add preferred stock dividends due to assumed conversions
75

 
75

 
150

 
150

Net income allocated to common shareholders
$
4,983

 
$
4,497

 
$
9,412

 
$
7,587

Average common shares issued and outstanding
10,013,503

 
10,328,424

 
10,056,111

 
10,308,241

Dilutive potential common shares (1)
808,566

 
730,743

 
812,320

 
771,698

Total diluted average common shares issued and outstanding
10,822,069

 
11,059,167

 
10,868,431

 
11,079,939

Diluted earnings per common share
$
0.46

 
$
0.41

 
$
0.87

 
$
0.68

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