Financial Summary
|
Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data) |
2007 | 2006 | 2005 | 2007 v 2006 |
2006 v 2005 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total net revenue (taxable-equivalent basis) | $ | 13,936 | $ | 13,636 | $ | 13,133 | 2.2 | % | 3.8 | % | |||
| Noninterest expense | 6,862 | 6,180 | 5,863 | 11.0 | 5.4 | ||||||||
| Provision for credit losses | 792 | 544 | 666 | 45.6 | (18.3 | ) | |||||||
| Income taxes and taxable-equivalent adjustments | 1,958 | 2,161 | 2,115 | (9.4 | ) | 2.2 | |||||||
| Net Income | $ | 4,324 | $ | 4,751 | $ | 4,489 | (9.0 | ) | 5.8 | ||||
| Net Income applicable to common equity | $ | 4,264 | $ | 4,703 | $ | 4,489 | (9.3 | ) | 4.8 | ||||
Per Common Share |
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| Earnings per share | $ | 2.46 | $ | 2.64 | $ | 2.45 | (6.8 | )% | 7.8 | % | |||
| Diluted earnings per share | 2.43 | 2.61 | 2.42 | (6.9 | ) | 7.9 | |||||||
| Dividends declared per share | 1.625 | 1.390 | 1.230 | 16.9 | 13.0 | ||||||||
| Book value per share | 11.60 | 11.44 | 11.07 | 1.4 | 3.3 | ||||||||
| Market value per share | 31.74 | 36.19 | 29.89 | (12.3 | ) | 21.1 | |||||||
| Average common shares outstanding | 1,735 | 1,778 | 1,831 | (2.4 | ) | (2.9 | ) | ||||||
| Average diluted common shares outstanding | 1,758 | 1,804 | 1,857 | (2.5 | ) | (2.9 | ) | ||||||
Financial Ratios |
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| Return on average assets | 1.93 | % | 2.23 | % | 2.21 | % | |||||||
| Return on average common equity | 21.3 | 23.6 | 22.5 | ||||||||||
| Net interest margin (taxable-equivalent basis) | 3.47 | 3.65 | 3.97 | ||||||||||
| Efficiency ratio (a) | 49.3 | 45.4 | 44.3 | ||||||||||
Average Balances |
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| Loans | $ | 147,348 | $ | 140,601 | $ | 131,610 | 4.8 | % | 6.8 | % | |||
| Investment securities | 41,313 | 39,961 | 42,103 | 3.4 | (5.1 | ) | |||||||
| Earning assets | 194,683 | 186,231 | 178,425 | 4.5 | 4.4 | ||||||||
| Assets | 223,621 | 213,512 | 203,198 | 4.7 | 5.1 | ||||||||
| Deposits | 121,075 | 120,589 | 121,001 | .4 | (.3 | ) | |||||||
| Total shareholders’ equity | 20,997 | 20,710 | 19,953 | 1.4 | 3.8 | ||||||||
Period End Balances |
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| Loans | $ | 153,827 | $ | 143,597 | $ | 136,462 | 7.1 | % | 5.2 | % | |||
| Allowance for credit losses | 2,260 | 2,256 | 2,251 | (8.8 | ) | .2 | |||||||
| Investment securities | 43,116 | 40,117 | 39,768 | 7.5 | .9 | ||||||||
| Assets | 237,615 | 219,232 | 209,465 | 8.4 | 4.7 | ||||||||
| Deposits | 131,445 | 124,882 | 124,709 | 5.3 | .1 | ||||||||
| Shareholders’ equity | 21,046 | 21,197 | 20,086 | (.7 | ) | 5.5 | |||||||
| Regulatory capital ratios | |||||||||||||
| Tier 1 capital | 8.3 | % | 8.8 | % | 8.2 | % | |||||||
| Total risk-based capital | 12.2 | 12.6 | 12.5 | ||||||||||
| Leverage | 7.9 | 8.2 | 7.6 | ||||||||||
| Tangible common equity | 5.1 | 5.5 | 5.9 | ||||||||||
| (a) Computed as noninterest expense divided by the sum of net interest income on a taxable-equivalent basis and noninterest income excluding securities gains (losses), net. | |||||||||||||