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Strategic Lines of Business (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Business Segment Financial Results

Business segment financial results are as follows:

			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
(dollar amounts in millions)
Three Months Ended June 30, 2022
Earnings summary:
Net interest income (expense)			$	399					$	147					$	47					$	(33)					$	1					$	561
Provision for credit losses			8						(2)						4						—						—						10
Noninterest income			160						32						77						12						(13)						268
Noninterest expenses			237						173						89						—						(17)						482
Provision (benefit) for income taxes			70						2						7						(7)						4						76
Net income (loss)			$	244					$	6					$	24					$	(14)					$	1					$	261
Net credit-related charge-offs (recoveries)			$	2					$	(1)					$	(1)					$	—					$	—					$	—
Selected average balances:
Assets			$	47,451					$	2,769					$	4,963					$	21,071					$	12,556					$	88,810
Loans			43,171						2,015						4,832						—						9						50,027
Deposits			43,744						27,145						5,966						520						214						77,589
Statistical data:
Return on average assets (a)			2.00		%				0.09		%				1.52		%				n/m						n/m						1.18		%
Efficiency ratio (b)			42.38						95.87						71.82						n/m						n/m						58.03
Three Months Ended June 30, 2021
Earnings summary:
Net interest income (expense)			$	402					$	145					$	43					$	(127)					$	2					$	465
Provision for credit losses			(123)						(7)						(4)						—						(1)						(135)
Noninterest income			167						30						71						9						7						284
Noninterest expenses			204						173						77						1						8						463
Provision (benefit) for income taxes			111						1						9						(26)						(2)						93
Net income (loss)			$	377					$	8					$	32					$	(93)					$	4					$	328
Net credit-related (recoveries) charge-offs			$	(12)					$	1					$	—					$	—					$	—					$	(11)
Selected average balances:
Assets			$	44,283					$	3,395					$	5,063					$	17,461					$	17,658					$	87,860
Loans			42,350						2,533						4,936						—						9						49,828
Deposits			43,682						25,573						5,103						944						218						75,520
Statistical data:
Return on average assets (a)			3.21		%				0.12		%				2.40		%				n/m						n/m						1.50		%
Efficiency ratio (b)			35.99						98.06						66.85						n/m						n/m						61.72

(a)Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.

(b)Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding a derivative contract tied to the conversion rate of Visa Class B shares and changes in the value of shares obtained through monetization of warrants.

n/m – not meaningful

(dollar amounts in millions)			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
Six Months Ended June 30, 2022
Earnings summary:
Net interest income (expense)			$	755					$	277					$	83					$	(97)					$	(1)					$	1,017
Provision for credit losses			(15)						5						6						—						3						(1)
Noninterest income			292						60						149						30						(19)						512
Noninterest expenses			471						337						172						—						(25)						955
Provision (benefit) for income taxes			135						(2)						13						(19)						(2)						125
Net income (loss)			$	456					$	(3)					$	41					$	(48)					$	4					$	450
Net credit-related charge-offs (recoveries)			$	11					$	(1)					$	(2)					$	—					$	—					$	8
Selected average balances:
Assets			$	46,173					$	2,788					$	4,911					$	20,158					$	15,944					$	89,974
Loans			42,364						2,014						4,773						—						4						49,155
Deposits			44,886						27,004						5,636						599						217						78,342
Statistical data:
Return on average assets (a)			1.85		%				(0.02)		%				1.38		%				n/m						n/m						1.01		%
Efficiency ratio (b)			44.69						99.59						74.14						n/m						n/m						62.11
Six Months Ended June 30, 2021
Earnings summary:
Net interest income (expense)			$	784					$	278					$	85					$	(244)					$	5					$	908
Provision for credit losses			(300)						(1)						(16)						—						—						(317)
Noninterest income			326						58						138						21						11						554
Noninterest expenses			419						322						153						1						15						910
Provision (benefit) for income taxes			224						1						19						(51)						(2)						191
Net income (loss)			$	767					$	14					$	67					$	(173)					$	3					$	678
Net credit-related (recoveries) charge-offs			$	(10)					$	2					$	—					$	—					$	—					$	(8)
Selected average balances:
Assets			$	44,365					$	3,428					$	5,112					$	17,212					$	16,101					$	86,218
Loans			42,625						2,576						4,998						—						7						50,206
Deposits			42,399						24,951						4,965						964						188						73,467
Statistical data:
Return on average assets (a)			3.38		%				0.11		%				2.55		%				n/m						n/m						1.59		%
Efficiency ratio (b)			37.78						95.00						68.31						n/m						n/m						62.12

(a)Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.

(b)Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding a derivative contract tied to the conversion rate of Visa Class B shares and changes in the value of shares obtained through monetization of warrants.

n/m – not meaningful

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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