Attached files
| file | filename |
|---|---|
| EX-99.4 - EX-99.4 - FIFTH THIRD BANCORP | d285237dex994.htm |
| EX-99.2 - EX-99.2 - FIFTH THIRD BANCORP | d285237dex992.htm |
| EX-99.1 - EX-99.1 - FIFTH THIRD BANCORP | d285237dex991.htm |
| 8-K - FORM 8-K - FIFTH THIRD BANCORP | d285237d8k.htm |
Exhibit 99.3
January 2017
QUARTERLY FINANCIAL SUPPLEMENT
Investment Community Member:
To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.
Numbers are unaudited for quarterly information.
If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-0629 or IR@53.com
| Sameer Gokhale Senior Director Investor Relations (513) 534-2219 |
Quarterly Data
| Three Months Ended | ||||||||||||||||||||||||||||||||
| December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
| 2016 | 2016(e) | 2016(e) | 2016(e) | 2015 | 2015 | 2015 | 2015 | |||||||||||||||||||||||||
| Ratios (percent) |
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| Return on average assets |
1.11 | 1.44 | 0.92 | 0.93 | 1.83 | 1.07 | 0.90 | 1.06 | ||||||||||||||||||||||||
| Return on average common equity |
9.7 | 12.8 | 8.0 | 8.3 | 17.2 | 10.0 | 8.1 | 9.7 | ||||||||||||||||||||||||
| Average total Bancorp shareholders’ equity as a percent of average assets |
11.66 | 11.83 | 11.60 | 11.57 | 11.26 | 11.24 | 11.32 | 11.50 | ||||||||||||||||||||||||
| Net interest margin(a)(d) |
2.86 | 2.88 | 2.88 | 2.91 | 2.85 | 2.89 | 2.90 | 2.86 | ||||||||||||||||||||||||
| Efficiency(a)(d) |
62.8 | 55.5 | 65.3 | 63.8 | 48.0 | 58.2 | 65.4 | 62.3 | ||||||||||||||||||||||||
| Net losses charged-off as a percent of average portfolio loans and leases |
0.31 | 0.45 | 0.37 | 0.42 | 0.34 | 0.80 | 0.37 | 0.41 | ||||||||||||||||||||||||
| ALLL as a percent of portfolio loans and leases |
1.36 | 1.37 | 1.38 | 1.38 | 1.37 | 1.35 | 1.39 | 1.42 | ||||||||||||||||||||||||
| Allowance for credit losses as a percent of portfolio loans and leases(c) |
1.54 | 1.54 | 1.54 | 1.54 | 1.52 | 1.49 | 1.54 | 1.57 | ||||||||||||||||||||||||
| Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(b) |
0.80 | 0.75 | 0.86 | 0.88 | 0.70 | 0.65 | 0.67 | 0.76 | ||||||||||||||||||||||||
| Allowance for loan and lease losses as a percent of nonperforming assets(b) |
170 | 182 | 161 | 157 | 197 | 208 | 206 | 188 | ||||||||||||||||||||||||
| Allowance for credit losses as a percent of nonperforming assets(b) |
192 | 205 | 180 | 174 | 218 | 230 | 228 | 207 | ||||||||||||||||||||||||
| Common Share Data |
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| Earnings per share - basic |
$ | 0.49 | $ | 0.66 | $ | 0.40 | $ | 0.40 | $ | 0.80 | $ | 0.46 | $ | 0.36 | $ | 0.42 | ||||||||||||||||
| Earnings per share - diluted |
$ | 0.49 | $ | 0.65 | $ | 0.39 | $ | 0.40 | $ | 0.79 | $ | 0.45 | $ | 0.36 | $ | 0.42 | ||||||||||||||||
| Cash dividends per common share |
0.14 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | ||||||||||||||||||||||||
| Book value per share |
19.82 | 20.44 | 20.09 | 19.46 | 18.48 | 18.22 | 17.62 | 17.83 | ||||||||||||||||||||||||
| Common shares outstanding, excluding treasury |
750,479,299 | 755,582,255 | 766,345,770 | 770,470,768 | 785,080,314 | 795,439,309 | 810,054,148 | 815,190,210 | ||||||||||||||||||||||||
| Market price per share: |
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| High |
$ | 27.79 | $ | 20.92 | $ | 19.30 | $ | 19.61 | $ | 21.06 | $ | 21.71 | $ | 21.69 | $ | 20.21 | ||||||||||||||||
| Low |
19.58 | 16.70 | 16.13 | 13.94 | 18.28 | 18.23 | 18.91 | 17.22 | ||||||||||||||||||||||||
| End of period |
26.97 | 20.46 | 17.59 | 16.69 | 20.10 | 18.91 | 20.82 | 18.85 | ||||||||||||||||||||||||
| Supplemental Data |
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| Common dividends declared ($ in millions) |
$ | 106 | $ | 99 | $ | 100 | $ | 100 | $ | 102 | $ | 103 | $ | 105 | $ | 106 | ||||||||||||||||
| Full-time equivalent employees |
17,844 | 18,072 | 18,051 | 18,200 | 18,261 | 18,311 | 18,527 | 18,471 | ||||||||||||||||||||||||
| Banking centers |
1,191 | 1,191 | 1,191 | 1,241 | 1,254 | 1,295 | 1,299 | 1,303 | ||||||||||||||||||||||||
| ATMs |
2,495 | 2,497 | 2,514 | 2,556 | 2,593 | 2,650 | 2,630 | 2,637 | ||||||||||||||||||||||||
| (a) | Presented on a fully taxable equivalent basis (FTE). |
| (b) | Excludes nonperforming assets held for sale. |
| (c) | The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments. |
| (d) | This is a non-GAAP measure. |
| (e) | The Condensed Consolidated Financial Statements include a $1 million, $5 million and $0 million net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. |
Quarterly Data
| Three Months Ended | ||||||||||||||||||||||||||||||||
| December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
| 2016 | 2016(e) | 2016(e) | 2016(e) | 2015 | 2015 | 2015 | 2015 | |||||||||||||||||||||||||
| Income Statement ($ in millions) |
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| Interest income (taxable equivalent)(d) |
$ | 1,058 | $ | 1,063 | $ | 1,052 | $ | 1,044 | $ | 1,035 | $ | 1,031 | $ | 1,008 | $ | 975 | ||||||||||||||||
| Interest expense |
149 | 150 | 144 | 135 | 131 | 125 | 116 | 123 | ||||||||||||||||||||||||
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| Net interest income (taxable equivalent)(d) |
909 | 913 | 908 | 909 | 904 | 906 | 892 | 852 | ||||||||||||||||||||||||
| Provision for loan and lease losses |
54 | 80 | 91 | 119 | 91 | 156 | 79 | 69 | ||||||||||||||||||||||||
| Noninterest income: |
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| Service charges on deposits |
141 | 143 | 138 | 137 | 144 | 145 | 139 | 135 | ||||||||||||||||||||||||
| Wealth and asset management revenue |
100 | 101 | 101 | 102 | 102 | 103 | 105 | 108 | ||||||||||||||||||||||||
| Corporate banking revenue |
101 | 111 | 117 | 102 | 104 | 104 | 113 | 63 | ||||||||||||||||||||||||
| Mortgage banking net revenue |
65 | 66 | 75 | 78 | 74 | 71 | 117 | 86 | ||||||||||||||||||||||||
| Card and processing revenue |
79 | 79 | 82 | 79 | 77 | 77 | 77 | 71 | ||||||||||||||||||||||||
| Other noninterest income |
137 | 336 | 80 | 136 | 602 | 213 | 1 | 163 | ||||||||||||||||||||||||
| Securities gains, net |
(3) | 4 | 6 | 3 | 1 | — | 4 | 4 | ||||||||||||||||||||||||
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| Total noninterest income |
620 | 840 | 599 | 637 | 1,104 | 713 | 556 | 630 | ||||||||||||||||||||||||
| Noninterest expense: |
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| Salaries, wages and incentives |
403 | 400 | 407 | 403 | 386 | 387 | 383 | 369 | ||||||||||||||||||||||||
| Employee benefits |
76 | 78 | 85 | 100 | 74 | 72 | 78 | 99 | ||||||||||||||||||||||||
| Net occupancy expense |
73 | 73 | 75 | 77 | 83 | 77 | 83 | 79 | ||||||||||||||||||||||||
| Technology and communications |
56 | 62 | 60 | 56 | 59 | 56 | 54 | 55 | ||||||||||||||||||||||||
| Equipment expense |
29 | 29 | 30 | 30 | 32 | 31 | 31 | 31 | ||||||||||||||||||||||||
| Card and processing expense |
31 | 30 | 37 | 35 | 40 | 40 | 38 | 36 | ||||||||||||||||||||||||
| Other noninterest expense |
292 | 301 | 289 | 285 | 289 | 280 | 280 | 254 | ||||||||||||||||||||||||
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| Total noninterest expense |
960 | 973 | 983 | 986 | 963 | 943 | 947 | 923 | ||||||||||||||||||||||||
| Income before income taxes (taxable equivalent)(d) |
515 | 700 | 433 | 441 | 954 | 520 | 422 | 490 | ||||||||||||||||||||||||
| Taxable equivalent adjustment |
6 | 6 | 6 | 6 | 5 | 5 | 5 | 5 | ||||||||||||||||||||||||
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| Income before income taxes |
509 | 694 | 427 | 435 | 949 | 515 | 417 | 485 | ||||||||||||||||||||||||
| Applicable income tax expense |
114 | 178 | 103 | 109 | 292 | 134 | 108 | 124 | ||||||||||||||||||||||||
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| Net income |
$ | 395 | $ | 516 | $ | 324 | $ | 326 | $ | 657 | $ | 381 | $ | 309 | $ | 361 | ||||||||||||||||
| Less: Net income attributable to noncontrolling interests |
— | — | (4) | — | — | — | (6) | — | ||||||||||||||||||||||||
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| Net income attributable to Bancorp |
$ | 395 | $ | 516 | $ | 328 | $ | 326 | $ | 657 | $ | 381 | $ | 315 | $ | 361 | ||||||||||||||||
| Dividends on preferred stock |
23 | 15 | 23 | 15 | 23 | 15 | 23 | 15 | ||||||||||||||||||||||||
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| Net income available to common shareholders |
$ | 372 | $ | 501 | $ | 305 | $ | 311 | $ | 634 | $ | 366 | $ | 292 | $ | 346 | ||||||||||||||||
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| Regulatory Capital Data ($ in millions)(a) | Basel III Transitional | |||||||||||||||||||||||||||||||
| CET1 capital |
$ | 12,426 | $ | 12,299 | $ | 12,112 | $ | 11,914 | $ | 11,917 | $ | 11,574 | $ | 11,582 | $ | 11,543 | ||||||||||||||||
| Additional tier I capital |
1,330 | 1,331 | 1,331 | 1,330 | 1,343 | 1,340 | 1,340 | 1,339 | ||||||||||||||||||||||||
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| Tier I capital |
$ | 13,756 | $ | 13,630 | $ | 13,443 | $ | 13,244 | $ | 13,260 | $ | 12,914 | $ | 12,922 | $ | 12,882 | ||||||||||||||||
| Tier II capital |
4,164 | 4,374 | 4,414 | 4,553 | 3,874 | 3,935 | 3,909 | 4,112 | ||||||||||||||||||||||||
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| Total regulatory capital |
$ | 17,920 | $ | 18,004 | $ | 17,857 | $ | 17,797 | $ | 17,134 | $ | 16,849 | $ | 16,831 | $ | 16,994 | ||||||||||||||||
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| Risk-weighted assets(b) |
$ | 119,482 | $ | 120,954 | $ | 121,824 | $ | 121,432 | $ | 121,290 | $ | 123,148 | $ | 122,986 | $ | 121,310 | ||||||||||||||||
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| CET1 capital ratio(b) |
10.40% | 10.17% | 9.94% | 9.81% | 9.82% | 9.40% | 9.42% | 9.52% | ||||||||||||||||||||||||
| Tier I risk-based capital ratio(b) |
11.51% | 11.27% | 11.03% | 10.91% | 10.93% | 10.49% | 10.51% | 10.62% | ||||||||||||||||||||||||
| Total risk-based capital ratio(b) |
15.00% | 14.88% | 14.66% | 14.66% | 14.13% | 13.68% | 13.69% | 14.01% | ||||||||||||||||||||||||
| Tier I leverage ratio |
9.90% | 9.80% | 9.64% | 9.57% | 9.54% | 9.38% | 9.44% | 9.59% | ||||||||||||||||||||||||
| CET1 capital ratio (fully phased-in)(b)(c)(d) |
10.30% | 10.09% | 9.86% | 9.72% | 9.72% | 9.30% | 9.31% | 9.41% | ||||||||||||||||||||||||
| (a) | Current period regulatory capital data and ratios are estimated. |
| (b) | Under the banking agencies’ risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk-weight of the category. The resulting weighted values are added together, along with the measure for market risk, resulting in the Bancorp’s total risk-weighted assets. |
| (c) | This ratio has been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. This is a non-GAAP measure. |
| (d) | These are non-GAAP measures. |
| (e) | The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. |
Quarterly Data
| As of | ||||||||||||||||||||||||||||||||
| December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
| 2016 | 2016(a) | 2016(a) | 2016(a) | 2015 | 2015 | 2015 | 2015 | |||||||||||||||||||||||||
| Balance Sheet ($ in millions, |
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| Assets |
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| Cash and due from banks |
$ | 2,392 | $ | 2,164 | $ | 2,359 | $ | 2,298 | $ | 2,540 | $ | 2,455 | $ | 2,785 | $ | 2,920 | ||||||||||||||||
| Available-for-sale and other securities |
31,183 | 30,689 | 31,455 | 29,891 | 29,044 | 28,799 | 27,987 | 26,409 | ||||||||||||||||||||||||
| Held-to-maturity securities |
26 | 56 | 62 | 64 | 70 | 157 | 157 | 177 | ||||||||||||||||||||||||
| Trading securities |
410 | 431 | 401 | 405 | 386 | 374 | 370 | 392 | ||||||||||||||||||||||||
| Other short-term investments |
2,754 | 2,995 | 1,818 | 1,778 | 2,671 | 1,994 | 3,451 | 4,919 | ||||||||||||||||||||||||
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| Total cash and securities |
36,765 | 36,335 | 36,095 | 34,436 | 34,711 | 33,779 | 34,750 | 34,817 | ||||||||||||||||||||||||
| Loans held for sale |
751 | 1,060 | 877 | 803 | 903 | 994 | 995 | 724 | ||||||||||||||||||||||||
| Portfolio loans and leases |
92,098 | 93,151 | 93,909 | 93,605 | 92,582 | 93,574 | 92,703 | 91,244 | ||||||||||||||||||||||||
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| Total loans and leases |
92,849 | 94,211 | 94,786 | 94,408 | 93,485 | 94,568 | 93,698 | 91,968 | ||||||||||||||||||||||||
| Allowance for loan and lease losses |
(1,253) | (1,272) | (1,299) | (1,295) | (1,272) | (1,261) | (1,293) | (1,300) | ||||||||||||||||||||||||
| Bank premises and equipment |
2,065 | 2,084 | 2,144 | 2,185 | 2,239 | 2,264 | 2,298 | 2,433 | ||||||||||||||||||||||||
| Operating lease equipment |
738 | 771 | 756 | 738 | 707 | 680 | 670 | 695 | ||||||||||||||||||||||||
| Goodwill |
2,416 | 2,416 | 2,416 | 2,416 | 2,416 | 2,416 | 2,416 | 2,416 | ||||||||||||||||||||||||
| Intangible assets |
9 | 10 | 10 | 11 | 12 | 13 | 13 | 14 | ||||||||||||||||||||||||
| Servicing rights |
744 | 619 | 621 | 685 | 785 | 757 | 854 | 789 | ||||||||||||||||||||||||
| Other real estate owned |
69 | 91 | 107 | 119 | 137 | 149 | 163 | 187 | ||||||||||||||||||||||||
| Other assets |
7,775 | 8,014 | 7,989 | 8,727 | 7,828 | 8,518 | 8,059 | 8,418 | ||||||||||||||||||||||||
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| Total assets |
$ | 142,177 | $ | 143,279 | $ | 143,625 | $ | 142,430 | $ | 141,048 | $ | 141,883 | $ | 141,628 | $ | 140,437 | ||||||||||||||||
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| Liabilities |
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| Deposits: |
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| Demand |
$ | 35,782 | $ | 35,625 | $ | 36,137 | $ | 35,858 | $ | 36,267 | $ | 34,832 | $ | 35,449 | $ | 35,343 | ||||||||||||||||
| Interest checking |
26,679 | 24,483 | 24,571 | 25,182 | 26,768 | 24,832 | 27,074 | 27,191 | ||||||||||||||||||||||||
| Savings |
13,941 | 14,019 | 14,356 | 14,738 | 14,601 | 14,632 | 14,976 | 15,355 | ||||||||||||||||||||||||
| Money market |
20,749 | 19,910 | 19,125 | 19,377 | 18,494 | 18,887 | 17,900 | 18,105 | ||||||||||||||||||||||||
| Foreign office |
426 | 518 | 453 | 441 | 464 | 754 | 728 | 811 | ||||||||||||||||||||||||
| Other time |
3,866 | 3,971 | 4,021 | 4,049 | 4,019 | 4,041 | 4,050 | 4,044 | ||||||||||||||||||||||||
| Certificates - $100,000 and over |
2,378 | 2,745 | 2,778 | 2,830 | 2,592 | 2,915 | 2,846 | 2,566 | ||||||||||||||||||||||||
| Other foreign office |
— | — | 430 | — | — | — | — | — | ||||||||||||||||||||||||
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| Total deposits |
103,821 | 101,271 | 101,871 | 102,475 | 103,205 | 100,893 | 103,023 | 103,415 | ||||||||||||||||||||||||
| Federal funds purchased |
132 | 126 | 108 | 134 | 151 | 132 | 126 | 200 | ||||||||||||||||||||||||
| Other short-term borrowings |
3,535 | 3,494 | 3,979 | 3,523 | 1,507 | 4,904 | 4,136 | 1,413 | ||||||||||||||||||||||||
| Other liabilities |
4,069 | 4,694 | 4,682 | 4,638 | 4,505 | 4,604 | 5,214 | 5,483 | ||||||||||||||||||||||||
| Long-term debt |
14,388 | 16,890 | 16,231 | 15,305 | 15,810 | 15,492 | 13,491 | 14,022 | ||||||||||||||||||||||||
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| Total liabilities |
$ | 125,945 | $ | 126,475 | $ | 126,871 | $ | 126,075 | $ | 125,178 | $ | 126,025 | $ | 125,990 | $ | 124,533 | ||||||||||||||||
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| Equity |
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| Common and preferred equity |
$ | 19,579 | $ | 19,307 | $ | 18,914 | $ | 18,638 | $ | 18,406 | $ | 17,867 | $ | 17,578 | $ | 17,421 | ||||||||||||||||
| Net unrealized gains: |
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| Available-for-sale securities |
101 | 765 | 879 | 685 | 238 | 528 | 327 | 608 | ||||||||||||||||||||||||
| Qualifying cash flow hedges |
10 | 48 | 70 | 61 | 22 | 58 | 29 | 47 | ||||||||||||||||||||||||
| Accumulated other comprehensive income related to employee benefit plans |
(52) | (58) | (60) | (62) | (63) | (64) | (65) | (67) | ||||||||||||||||||||||||
| Treasury stock, at cost |
(3,433) | (3,286) | (3,077) | (2,999) | (2,764) | (2,563) | (2,264) | (2,145) | ||||||||||||||||||||||||
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| Total Bancorp shareholders’ equity |
16,205 | 16,776 | 16,726 | 16,323 | 15,839 | 15,826 | 15,605 | 15,864 | ||||||||||||||||||||||||
| Noncontrolling interests |
27 | 28 | 28 | 32 | 31 | 32 | 33 | 40 | ||||||||||||||||||||||||
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| Total equity |
$ | 16,232 | $ | 16,804 | $ | 16,754 | $ | 16,355 | $ | 15,870 | $ | 15,858 | $ | 15,638 | $ | 15,904 | ||||||||||||||||
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| Total liabilities and equity |
$ | 142,177 | $ | 143,279 | $ | 143,625 | $ | 142,430 | $ | 141,048 | $ | 141,883 | $ | 141,628 | $ | 140,437 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Share Data |
||||||||||||||||||||||||||||||||
| Preferred shares outstanding - Series H |
24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | ||||||||||||||||||||||||
| Preferred shares outstanding - Series I |
18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | ||||||||||||||||||||||||
| Preferred shares outstanding - Series J |
12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | ||||||||||||||||||||||||
| Common shares outstanding, excluding treasury |
750,479,299 | 755,582,255 | 766,345,770 | 770,470,768 | 785,080,314 | 795,439,309 | 810,054,148 | 815,190,210 | ||||||||||||||||||||||||
| Treasury shares held |
173,413,282 | 168,310,326 | 157,546,811 | 153,421,813 | 138,812,267 | 128,453,272 | 113,838,433 | 108,702,371 | ||||||||||||||||||||||||
| (a) | The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. |
Quarterly Data
| Three Months Ended | ||||||||||||||||||||||||||||||||
| December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
| 2016 | 2016(a) | 2016(a) | 2016(a) | 2015 | 2015 | 2015 | 2015 | |||||||||||||||||||||||||
| Average Balance Sheet ($ in |
||||||||||||||||||||||||||||||||
| Assets |
||||||||||||||||||||||||||||||||
| Interest-earning assets: |
||||||||||||||||||||||||||||||||
| Loans and leases |
$ | 93,981 | $ | 94,417 | $ | 94,807 | $ | 94,078 | $ | 94,587 | $ | 94,329 | $ | 92,739 | $ | 91,659 | ||||||||||||||||
| Taxable securities |
30,677 | 29,772 | 30,002 | 29,619 | 28,951 | 28,251 | 27,344 | 23,102 | ||||||||||||||||||||||||
| Tax exempt securities |
81 | 76 | 85 | 78 | 52 | 52 | 59 | 59 | ||||||||||||||||||||||||
| Other short-term investments |
1,809 | 1,827 | 1,953 | 1,876 | 2,253 | 1,799 | 3,160 | 5,877 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total interest-earning assets |
126,548 | 126,092 | 126,847 | 125,651 | 125,843 | 124,431 | 123,302 | 120,697 | ||||||||||||||||||||||||
| Cash and due from banks |
2,358 | 2,289 | 2,228 | 2,335 | 2,466 | 2,503 | 2,636 | 2,830 | ||||||||||||||||||||||||
| Other assets |
14,203 | 15,644 | 15,140 | 14,869 | 14,925 | 15,064 | 15,322 | 15,412 | ||||||||||||||||||||||||
| Allowance for loan and lease losses |
(1,272) | (1,299) | (1,295) | (1,273) | (1,261) | (1,292) | (1,300) | (1,322) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total assets |
$ | 141,837 | $ | 142,726 | $ | 142,920 | $ | 141,582 | $ | 141,973 | $ | 140,706 | $ | 139,960 | $ | 137,617 | ||||||||||||||||
| Liabilities |
||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: |
||||||||||||||||||||||||||||||||
| Interest checking deposits |
$ | 25,644 | $ | 24,475 | $ | 24,714 | $ | 25,740 | $ | 25,296 | $ | 25,590 | $ | 26,894 | $ | 26,885 | ||||||||||||||||
| Savings deposits |
13,979 | 14,232 | 14,576 | 14,601 | 14,615 | 14,868 | 15,156 | 15,174 | ||||||||||||||||||||||||
| Money market deposits |
20,476 | 19,706 | 19,243 | 18,655 | 18,775 | 18,253 | 18,071 | 17,492 | ||||||||||||||||||||||||
| Foreign office deposits |
497 | 524 | 484 | 483 | 736 | 718 | 955 | 861 | ||||||||||||||||||||||||
| Other time deposits |
3,941 | 4,020 | 4,044 | 4,035 | 4,052 | 4,057 | 4,074 | 4,022 | ||||||||||||||||||||||||
| Certificates - $100,000 and over |
2,539 | 2,768 | 2,819 | 2,815 | 3,305 | 2,924 | 2,558 | 2,683 | ||||||||||||||||||||||||
| Other deposits |
115 | 749 | 467 | — | 7 | 222 | — | — | ||||||||||||||||||||||||
| Federal funds purchased |
280 | 446 | 693 | 608 | 1,182 | 1,978 | 326 | 172 | ||||||||||||||||||||||||
| Other short-term borrowings |
1,908 | 2,171 | 3,754 | 3,564 | 1,675 | 1,897 | 1,705 | 1,602 | ||||||||||||||||||||||||
| Long-term debt |
15,173 | 16,102 | 15,351 | 14,949 | 15,738 | 14,664 | 13,741 | 14,414 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total interest-bearing liabilities |
84,552 | 85,193 | 86,145 | 85,450 | 85,381 | 85,171 | 83,480 | 83,305 | ||||||||||||||||||||||||
| Demand deposits |
36,412 | 35,918 | 35,912 | 35,201 | 36,254 | 35,231 | 35,384 | 33,760 | ||||||||||||||||||||||||
| Other liabilities |
4,300 | 4,704 | 4,247 | 4,524 | 4,325 | 4,458 | 5,215 | 4,693 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total liabilities |
125,264 | 125,815 | 126,304 | 125,175 | 125,960 | 124,860 | 124,079 | 121,758 | ||||||||||||||||||||||||
| Equity |
16,573 | 16,911 | 16,616 | 16,407 | 16,013 | 15,846 | 15,881 | 15,859 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total liabilities and equity |
$ | 141,837 | $ | 142,726 | $ | 142,920 | $ | 141,582 | $ | 141,973 | $ | 140,706 | $ | 139,960 | $ | 137,617 | ||||||||||||||||
| Average loans and leases (excluding held for sale) |
$ | 92,964 | $ | 93,511 | $ | 93,931 | $ | 93,275 | $ | 93,594 | $ | 93,373 | $ | 92,173 | $ | 90,508 | ||||||||||||||||
| Share Data |
||||||||||||||||||||||||||||||||
| Average common shares outstanding - basic |
746,106,624 | 750,885,834 | 759,105,385 | 773,564,178 | 784,855,006 | 795,792,825 | 803,965,057 | 810,209,585 | ||||||||||||||||||||||||
| Average common shares outstanding - diluted |
757,443,512 | 757,855,877 | 764,811,003 | 777,757,934 | 794,481,388 | 805,022,588 | 812,842,540 | 818,672,259 | ||||||||||||||||||||||||
| (a) | The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. |
Quarterly Data
| Three Months Ended | ||||||||||||||||||||||||||||||||
| December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
| 2016 | 2016 | 2016 | 2016 | 2015 | 2015 | 2015 | 2015 | |||||||||||||||||||||||||
| End of Period Loans and Leases ($ in millions) (net of unearned discount) |
||||||||||||||||||||||||||||||||
| Commercial: |
||||||||||||||||||||||||||||||||
| Commercial and industrial loans |
$ | 41,736 | $ | 42,829 | $ | 43,575 | $ | 43,441 | $ | 42,151 | $ | 42,970 | $ | 42,812 | $ | 42,062 | ||||||||||||||||
| Commercial mortgage loans |
6,904 | 6,860 | 6,883 | 6,874 | 6,991 | 7,084 | 7,165 | 7,210 | ||||||||||||||||||||||||
| Commercial construction loans |
3,903 | 3,905 | 3,706 | 3,428 | 3,214 | 3,101 | 2,709 | 2,303 | ||||||||||||||||||||||||
| Commercial leases |
3,974 | 3,995 | 3,978 | 3,956 | 3,854 | 3,901 | 3,882 | 3,787 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total commercial loans and leases |
56,517 | 57,589 | 58,142 | 57,699 | 56,210 | 57,056 | 56,568 | 55,362 | ||||||||||||||||||||||||
| Consumer: |
||||||||||||||||||||||||||||||||
| Residential mortgage loans |
15,737 | 15,597 | 15,159 | 14,563 | 14,424 | 14,197 | 13,792 | 13,258 | ||||||||||||||||||||||||
| Home equity |
7,695 | 7,864 | 7,988 | 8,131 | 8,336 | 8,460 | 8,591 | 8,714 | ||||||||||||||||||||||||
| Automobile loans |
9,983 | 10,349 | 10,671 | 11,129 | 11,497 | 11,829 | 11,914 | 11,873 | ||||||||||||||||||||||||
| Credit card |
2,237 | 2,169 | 2,172 | 2,235 | 2,360 | 2,330 | 2,278 | 2,291 | ||||||||||||||||||||||||
| Other consumer loans and leases |
680 | 643 | 654 | 651 | 658 | 696 | 555 | 470 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total consumer loans and leases |
36,332 | 36,622 | 36,644 | 36,709 | 37,275 | 37,512 | 37,130 | 36,606 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total loans and leases |
$ | 92,849 | $ | 94,211 | $ | 94,786 | $ | 94,408 | $ | 93,485 | $ | 94,568 | $ | 93,698 | $ | 91,968 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Average Loans and Leases ($ in millions) (net of unearned discount) |
||||||||||||||||||||||||||||||||
| Commercial: |
||||||||||||||||||||||||||||||||
| Commercial and industrial loans |
$ | 42,612 | $ | 43,125 | $ | 43,878 | $ | 43,127 | $ | 43,175 | $ | 43,162 | $ | 42,554 | $ | 41,462 | ||||||||||||||||
| Commercial mortgage loans |
6,961 | 6,891 | 6,835 | 6,908 | 7,053 | 7,038 | 7,149 | 7,248 | ||||||||||||||||||||||||
| Commercial construction loans |
3,890 | 3,848 | 3,551 | 3,297 | 3,141 | 2,966 | 2,549 | 2,198 | ||||||||||||||||||||||||
| Commercial leases |
3,921 | 3,963 | 3,904 | 3,875 | 3,841 | 3,847 | 3,776 | 3,716 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total commercial loans and leases |
57,384 | 57,827 | 58,168 | 57,207 | 57,210 | 57,013 | 56,028 | 54,624 | ||||||||||||||||||||||||
| Consumer: |
||||||||||||||||||||||||||||||||
| Residential mortgage loans |
15,802 | 15,346 | 14,842 | 14,405 | 14,315 | 13,976 | 13,375 | 13,515 | ||||||||||||||||||||||||
| Home equity |
7,779 | 7,918 | 8,059 | 8,241 | 8,394 | 8,521 | 8,655 | 8,802 | ||||||||||||||||||||||||
| Automobile loans |
10,162 | 10,508 | 10,887 | 11,285 | 11,674 | 11,881 | 11,902 | 11,933 | ||||||||||||||||||||||||
| Credit card |
2,180 | 2,165 | 2,198 | 2,277 | 2,320 | 2,277 | 2,296 | 2,321 | ||||||||||||||||||||||||
| Other consumer loans and leases |
674 | 653 | 653 | 663 | 674 | 661 | 483 | 464 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total consumer loans and leases |
36,597 | 36,590 | 36,639 | 36,871 | 37,377 | 37,316 | 36,711 | 37,035 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total average loans and leases |
$ | 93,981 | $ | 94,417 | $ | 94,807 | $ | 94,078 | $ | 94,587 | $ | 94,329 | $ | 92,739 | $ | 91,659 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Asset Quality ($ in millions) |
||||||||||||||||||||||||||||||||
| Nonaccrual portfolio loans and leases |
$ | 403 | $ | 344 | $ | 385 | $ | 419 | $ | 228 | $ | 205 | $ | 217 | $ | 231 | ||||||||||||||||
| Nonaccrual loans held for sale |
4 | 91 | 20 | 3 | 1 | 1 | 1 | 2 | ||||||||||||||||||||||||
| Nonaccrual restructured loans held for sale |
9 | 9 | — | 2 | 11 | 1 | — | — | ||||||||||||||||||||||||
| Nonaccrual portfolio restructured loans and leases |
257 | 257 | 308 | 282 | 278 | 253 | 258 | 296 | ||||||||||||||||||||||||
| OREO and other repossessed property |
78 | 97 | 112 | 124 | 141 | 148 | 151 | 164 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total nonperforming assets |
$ | 751 | $ | 798 | $ | 825 | $ | 830 | $ | 659 | $ | 608 | $ | 627 | $ | 693 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Ninety days past due loans and leases |
$ | 84 | $ | 76 | $ | 65 | $ | 73 | $ | 75 | $ | 70 | $ | 70 | $ | 78 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Nonperforming Loans ($ in millions) (nonaccrual plus renegotiated) |
||||||||||||||||||||||||||||||||
| Commercial and industrial loans and leases |
$ | 491 | $ | 508 | $ | 483 | $ | 465 | $ | 259 | $ | 171 | $ | 182 | $ | 200 | ||||||||||||||||
| Commercial mortgage loans |
46 | 52 | 76 | 83 | 93 | 110 | 106 | 126 | ||||||||||||||||||||||||
| Commercial construction loans |
— | — | — | — | — | 6 | — | 1 | ||||||||||||||||||||||||
| Residential mortgage loans |
34 | 32 | 43 | 44 | 51 | 54 | 62 | 70 | ||||||||||||||||||||||||
| Home equity |
73 | 78 | 79 | 80 | 79 | 82 | 88 | 90 | ||||||||||||||||||||||||
| Other consumer loans and leases |
29 | 31 | 32 | 34 | 36 | 37 | 38 | 41 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total nonperforming loans and leases (including held for sale) |
$ | 673 | $ | 701 | $ | 713 | $ | 706 | $ | 518 | $ | 460 | $ | 476 | $ | 528 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Credit Charge-Offs ($ in millions) |
||||||||||||||||||||||||||||||||
| Total losses charged-off |
($ | 97) | ($ | 137) | ($ | 105) | ($ | 116) | ($ | 105) | ($ | 209) | ($ | 112) | ($ | 115) | ||||||||||||||||
| Total recoveries of losses previously charged-off |
24 | 30 | 18 | 20 | 25 | 21 | 26 | 24 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total net losses charged-off |
($ | 73) | ($ | 107) | ($ | 87) | ($ | 96) | ($ | 80) | ($ | 188) | ($ | 86) | ($ | 91) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Quarterly Data
| Regulation G Non-GAAP Reconciliation ($ in millions) | Three Months Ended | |||||||||||||||||||||||||||||||
| December | September | June | March | December | September | June | March | |||||||||||||||||||||||||
| 2016 | 2016(3) | 2016(3) | 2016(3) | 2015 | 2015 | 2015 | 2015 | |||||||||||||||||||||||||
| Net interest income (U.S. GAAP) |
$ | 903 | $ | 907 | $ | 902 | $ | 903 | $ | 899 | $ | 901 | $ | 887 | $ | 847 | ||||||||||||||||
| Add: FTE Adjustment |
6 | 6 | 6 | 6 | 5 | 5 | 5 | 5 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Net interest income on an FTE basis (a) |
909 | 913 | 908 | 909 | 904 | 906 | 892 | 852 | ||||||||||||||||||||||||
| Net interest income (U.S. GAAP) (annualized) (b) |
3,592 | 3,608 | 3,628 | 3,632 | 3,567 | 3,575 | 3,558 | 3,435 | ||||||||||||||||||||||||
| Net interest income on an FTE basis (annualized) (c) |
3,616 | 3,632 | 3,652 | 3,656 | 3,587 | 3,594 | 3,578 | 3,455 | ||||||||||||||||||||||||
| Noninterest income (d) |
620 | 840 | 599 | 637 | 1,104 | 713 | 556 | 630 | ||||||||||||||||||||||||
| Noninterest expense (e) |
960 | 973 | 983 | 986 | 963 | 943 | 947 | 923 | ||||||||||||||||||||||||
| Average interest-earning assets (f) |
126,548 | 126,092 | 126,847 | 125,651 | 125,843 | 124,431 | 123,302 | 120,697 | ||||||||||||||||||||||||
| Net interest margin (U.S. GAAP) (b)/(f) |
2.84% | 2.86% | 2.86% | 2.89% | 2.83% | 2.87% | 2.89% | 2.85% | ||||||||||||||||||||||||
| Net interest margin on an FTE basis (c)/(f) |
2.86% | 2.88% | 2.88% | 2.91% | 2.85% | 2.89% | 2.90% | 2.86% | ||||||||||||||||||||||||
| Efficiency ratio (e)/(a)+(d) |
62.8% | 55.5% | 65.3% | 63.8% | 48.0% | 58.2% | 65.4% | 62.3% | ||||||||||||||||||||||||
| Income before income taxes (U.S. GAAP) |
509 | 694 | 427 | 435 | 949 | 515 | 417 | 485 | ||||||||||||||||||||||||
| Add: FTE Adjustment |
6 | 6 | 6 | 6 | 5 | 5 | 5 | 5 | ||||||||||||||||||||||||
| Income before income taxes on an FTE basis |
515 | 700 | 433 | 441 | 954 | 520 | 422 | 490 | ||||||||||||||||||||||||
|
Basel III Final Rule - Transition to fully phased-in |
||||||||||||||||||||||||||||||||
| CET1 capital (transitional) |
$ | 12,426 | $ | 12,299 | $ | 12,112 | $ | 11,914 | $ | 11,917 | $ | 11,574 | $ | 11,582 | $ | 11,543 | ||||||||||||||||
| Less: Adjustments to CET1 capital from transitional to fully phased-in (1) |
(4) | (4) | (4) | (5) | (8) | (11) | (12) | (13) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| CET1 capital (fully phased-in) (g) |
12,422 | 12,295 | 12,108 | 11,909 | 11,909 | 11,563 | 11,570 | 11,530 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Risk-weighted assets (transitional) |
119,482 | 120,954 | 121,824 | 121,432 | 121,290 | 123,148 | 122,986 | 121,310 | ||||||||||||||||||||||||
| Add: Adjustments to risk-weighted assets from transitional to fully phased-in (2) |
1,116 | 929 | 932 | 1,027 | 1,178 | 1,136 | 1,280 | 1,182 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Risk-weighted assets (fully phased-in) (h) |
$ | 120,598 | $ | 121,883 | $ | 122,756 | $ | 122,459 | $ | 122,468 | $ | 124,284 | $ | 124,266 | $ | 122,492 | ||||||||||||||||
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (g)/(h) |
10.30% | 10.09% | 9.86% | 9.72% | 9.72% | 9.30% | 9.31% | 9.41% | ||||||||||||||||||||||||
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|
|
|||||||||||||||||
| (1) | Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities). |
| (2) | Primarily relates to higher risk-weighting for MSRs. |
| (3) | The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. |