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Strategic Lines of Business (Tables)

9 Months Ended

Sep. 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 September 30, 2022
Earnings summary:
Net interest income (expense)			$	478					$	188					$	55					$	(22)					$	8					$	707
Provision for credit losses			16						2						5						—						5						28
Noninterest income			169						29						77						6						(3)						278
Noninterest expenses			242						170						87						—						3						502
Provision (benefit) for income taxes			94						11						10						(6)						(5)						104
Net income (loss)			$	295					$	34					$	30					$	(10)					$	2					$	351
Net credit-related charge-offs			$	6					$	—					$	—					$	—					$	7					$	13
Selected average balances:
Assets			$	48,323					$	2,799					$	5,097					$	22,133					$	7,070					$	85,422
Loans			44,043						2,066						4,973						—						31						51,113
Deposits			41,471						26,665						5,293						383						164						73,976
Statistical data:
Return on average assets (a)			2.42		%				0.51		%				2.08		%				n/m						n/m						1.63		%
Efficiency ratio (b)			37.54						76.81						65.92						n/m						n/m						50.75
Three Months Ended September 30, 2021
Earnings summary:
Net interest income (expense)			$	406					$	149					$	40					$	(124)					$	4					$	475
Provision for credit losses			(25)						(5)						(13)						—						1						(42)
Noninterest income			169						32						69						10						—						280
Noninterest expenses			223						159						79						—						4						465
Provision (benefit) for income taxes			83						4						10						(27)						—						70
Net income (loss)			$	294					$	23					$	33					$	(87)					$	(1)					$	262
Net credit-related charge-offs (recoveries)			$	4					$	(1)					$	(1)					$	—					$	—					$	2
Selected average balances:
Assets			$	43,366					$	3,105					$	4,956					$	17,922					$	22,004					$	91,353
Loans			41,037						2,297						4,829						—						(28)						48,135
Deposits			46,641						26,088						5,209						977						200						79,115
Statistical data:
Return on average assets (a)			2.33		%				0.34		%				2.36		%				n/m						n/m						1.14		%
Efficiency ratio (b)			38.40						87.18						72.83						n/m						n/m						61.13

(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
Nine Months Ended September 30, 2022
Earnings summary:
Net interest income (expense)			$	1,232					$	464					$	138					$	(118)					$	8					$	1,724
Provision for credit losses			1						7						11						—						8						27
Noninterest income			461						89						226						36						(22)						790
Noninterest expenses			713						507						259						—						(22)						1,457
Provision (benefit) for income taxes			229						9						23						(25)						(7)						229
Net income (loss)			$	750					$	30					$	71					$	(57)					$	7					$	801
Net credit-related charge-offs (recoveries)			$	17					$	(1)					$	(2)					$	—					$	7					$	21
Selected average balances:
Assets			$	46,992					$	2,791					$	4,974					$	20,824					$	12,859					$	88,440
Loans			42,928						2,031						4,841						—						15						49,815
Deposits			43,733						26,890						5,520						527						201						76,871
Statistical data:
Return on average assets (a)			2.07		%				0.16		%				1.60		%				n/m						n/m						1.21		%
Efficiency ratio (b)			41.93						90.59						71.16						n/m						n/m						57.67
Nine Months Ended September 30, 2021
Earnings summary:
Net interest income (expense)			$	1,189					$	427					$	125					$	(368)					$	10					$	1,383
Provision for credit losses			(325)						(6)						(29)						—						1						(359)
Noninterest income			495						90						207						31						11						834
Noninterest expenses			641						481						232						1						20						1,375
Provision (benefit) for income taxes			307						5						29						(78)						(2)						261
Net income (loss)			$	1,061					$	37					$	100					$	(260)					$	2					$	940
Net credit-related (recoveries) charge-offs			$	(6)					$	1					$	(1)					$	—					$	—					$	(6)
Selected average balances:
Assets			$	44,114					$	3,321					$	5,059					$	17,451					$	18,004					$	87,949
Loans			42,087						2,483						4,940						—						(2)						49,508
Deposits			43,844						25,334						5,047						969						177						75,371
Statistical data:
Return on average assets (a)			3.00		%				0.19		%				2.49		%				n/m						n/m						1.43		%
Efficiency ratio (b)			37.96						92.26						69.80						n/m						n/m						61.80

(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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