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, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans and leases $ 9,203 $ 8,358 $ 26,877 $ 24,837
Debt securities 2,629 2,144 7,764 6,922
Federal funds sold and securities borrowed or purchased under agreements to resell 659 267 1,658 803
Trading account assets 1,091 1,076 3,330 3,330
Other interest income 1,075 765 2,884 2,300
Total interest income 14,657 12,610 42,513 38,192
Interest expense        
Deposits 624 266 1,252 736
Short-term borrowings 944 569 2,508 1,808
Trading account liabilities 319 244 890 778
Long-term debt 1,609 1,330 4,658 4,066
Total interest expense 3,496 2,409 9,308 7,388
Net interest income 11,161 10,201 33,205 30,804
Noninterest income        
Card income 1,429 1,455 4,347 4,349
Service charges 1,968 1,952 5,863 5,660
Investment and brokerage services 3,303 3,160 9,882 9,543
Investment banking income 1,477 1,458 4,593 4,019
Trading account profits 1,837 2,141 6,124 5,821
Mortgage banking income (loss) (20) 589 332 1,334
Gains on sales of debt securities 125 51 278 490
Other income 559 628 2,292 1,691
Total noninterest income 10,678 11,434 33,711 32,907
Total revenue, net of interest expense 21,839 21,635 66,916 63,711
Provision for credit losses 834 850 2,395 2,823
Noninterest expense        
Personnel 7,483 7,704 24,353 24,278
Occupancy 999 1,005 3,000 3,069
Equipment 416 443 1,281 1,357
Marketing 461 410 1,235 1,243
Professional fees 476 536 1,417 1,433
Amortization of intangibles 151 181 473 554
Data processing 777 685 2,344 2,240
Telecommunications 170 189 538 551
Other general operating 2,206 2,328 7,072 7,065
Total noninterest expense 13,139 13,481 41,713 41,790
Income before income taxes 7,866 7,304 22,808 19,098
Income tax expense 2,279 2,349 7,096 5,888
Net income 5,587 4,955 15,712 13,210
Preferred stock dividends 465 503 1,328 1,321
Net income applicable to common shareholders $ 5,122 $ 4,452 $ 14,384 $ 11,889
Per common share information        
Earnings (in dollars per share) $ 0.50 $ 0.43 $ 1.42 $ 1.15
Diluted earnings (in dollars per share) 0.48 0.41 1.35 1.10
Dividends paid (in dollars per share) $ 0.12 $ 0.075 $ 0.27 $ 0.175
Average common shares issued and outstanding (in thousands) (in shares) 10,197,891 10,250,124 10,103,386 10,312,878
Average diluted common shares issued and outstanding (in thousands) (in shares) 10,725,482 11,000,473 10,820,425 11,046,807