Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Income

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Consolidated Statement of Income (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income        
Loans and leases $ 9,146 $ 9,597 $ 27,384 $ 29,514
Debt securities 2,205 2,062 7,302 6,713
Federal funds sold and securities borrowed or purchased under agreements to resell 291 353 925 1,173
Trading account assets 1,049 1,189 3,567 3,787
Other interest income 691 775 2,130 2,242
Total interest income 13,382 13,976 41,308 43,429
Interest expense        
Deposits 334 484 1,082 1,552
Short-term borrowings 683 893 2,241 2,717
Trading account liabilities 375 418 1,274 1,343
Long-term debt 1,724 2,243 5,232 7,485
Total interest expense 3,116 4,038 9,829 13,097
Net interest income 10,266 9,938 31,479 30,332
Noninterest income        
Card income 1,444 1,538 4,323 4,573
Service charges 1,884 1,934 5,520 5,780
Investment and brokerage services 2,995 2,781 9,165 8,504
Investment banking income 1,297 1,336 4,388 3,699
Equity investment income 1,184 238 2,427 1,371
Trading account profits 1,266 1,239 6,193 5,078
Mortgage banking income 585 2,019 3,026 5,290
Gains on sales of debt securities 356 339 881 1,491
Other income (loss) 260 (928) 72 (1,392)
Other-than-temporary impairment losses on available-for-sale debt securities:        
Total other-than-temporary impairment losses (8) (9) (21) (70)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income 1 3 1 18
Net impairment losses recognized in earnings on available-for-sale debt securities (7) (6) (20) (52)
Total noninterest income 11,264 10,490 35,975 34,342
Total revenue, net of interest expense 21,530 20,428 67,454 64,674
Provision for credit losses 296 1,774 3,220 5,965
Noninterest expense        
Personnel 8,310 8,431 26,732 27,348
Occupancy 1,096 1,160 3,359 3,419
Equipment 538 561 1,620 1,718
Marketing 511 479 1,377 1,393
Professional fees 702 873 2,045 2,578
Amortization of intangibles 270 315 820 955
Data processing 779 640 2,370 2,188
Telecommunications 397 410 1,217 1,227
Other general operating 3,786 4,675 12,367 12,907
Total noninterest expense 16,389 17,544 51,907 53,733
Income (loss) before income taxes 4,845 1,110 12,327 4,976
Income tax expense (benefit) 2,348 770 4,335 1,520
Net income (loss) 2,497 340 7,992 3,456
Preferred stock dividends 279 373 1,093 1,063
Net income (loss) applicable to common shareholders $ 2,218 $ (33) $ 6,899 $ 2,393
Per common share information        
Earnings (dollars per share) $ 0.21 $ 0.00 $ 0.64 $ 0.22
Diluted earnings (dollars per share) $ 0.20 $ 0.00 $ 0.62 $ 0.22
Dividends paid (dollars per share) $ 0.01 $ 0.01 $ 0.03 $ 0.03
Average common shares issued and outstanding (in thousands) 10,718,918 10,776,173 10,764,216 10,735,461
Average diluted common shares issued and outstanding (in thousands) 11,482,226 10,776,173 11,523,649 10,826,503