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Strategic Lines of Business (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business Segment Financial Results

Business segment financial results were as follows:

			Commercial Bank						Retail Bank						Wealth Management						Finance						Other						Total
(dollar amounts in millions)
Three Months Ended March 31, 2023
Earnings summary:
Net interest income (expense)			$	531					$	222					$	58					$	(123)					$	20					$	708
Provision for credit losses			26						6						(2)						—						—						30
Noninterest income			153						28						73						23						5						282
Noninterest expenses			251						165						106						1						28						551
Provision (benefit) for income taxes			87						19						6						(25)						(2)						85
Net income (loss)			$	320					$	60					$	21					$	(76)					$	(1)					$	324
Net credit-related (recoveries) charge-offs			$	(2)					$	—					$	—					$	—					$	—					$	(2)
Selected average balances:
Assets			$	50,162					$	2,916					$	5,347					$	20,089					$	6,624					$	85,138
Loans			46,065						2,203						5,200						—						—						53,468
Deposits			36,396						25,101						4,704						1,523						109						67,833
Statistical data:
Return on average assets (a)			2.57		%				0.97		%				1.62		%				n/m						n/m						1.54		%
Efficiency ratio (b)			36.74						65.26						81.17						n/m						n/m						55.53
Three Months Ended March 31, 2022
Earnings summary:
Net interest income (expense)			$	356					$	130					$	36					$	(64)					$	(2)					$	456
Provision for credit losses			(23)						7						2						—						3						(11)
Noninterest income			132						28						72						18						(6)						244
Noninterest expenses			234						164						83						—						(8)						473
Provision (benefit) for income taxes			65						(4)						6						(12)						(6)						49
Net income (loss)			$	212					$	(9)					$	17					$	(34)					$	3					$	189
Net credit-related charge-offs (recoveries)			$	9					$	—					$	(1)					$	—					$	—					$	8
Selected average balances:
Assets			$	45,024					$	2,807					$	4,857					$	19,242					$	19,220					$	91,150
Loans			41,545						2,013						4,713						—						2						48,273
Deposits			46,039						26,861						5,303						680						220						79,103
Statistical data:
Return on average assets (a)			1.71		%				(0.14)		%				1.21		%				n/m						n/m						0.84		%
Efficiency ratio (b)			47.26						103.82						76.73						n/m						n/m						66.91

(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 net gains (losses) from securities, 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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