 |
Financial Summary
| Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data) |
 |
2005 | |
2004 | |
2003 | |
2005 v 2004 |
|
2004 v 2003 |
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| Total net revenue (taxable-equivalent basis) | |
$13,133 | |
$12,659 | |
$12,530 | |
3.7% | |
1.0% |
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| Noninterest expense | |
5,863 | |
5,785 | |
5,597 | |
1.3 | |
3.4 |
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| Provision for credit losses | |
666 | |
669 | |
1,254 | |
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| Income taxes and taxable-equivalent adjustments | |
2,115 | |
2,038 | |
1,969 | |
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| Income from continuing operations | |
4,489 | |
4,167 | |
3,710 | |
7.7 | |
12.3 |
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| Discontinued operations (after-tax) | |
— | |
— | |
23 | |
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| Net income | |
$4,489 | |
$4,167 | |
$3,733 | |
7.7 | |
11.6 |
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| Per Common Share | |
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| Earnings per share from continuing operations | |
$ 2.45 | |
$ 2.21 | |
$ 1.93 | |
10.9% | |
14.5% |
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| Diluted earnings per share from continuing operations | |
2.42 | |
2.18 | |
1.92 | |
11.0 | |
13.5 |
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| Earnings per share | |
2.45 | |
2.21 | |
1.94 | |
10.9 | |
13.9 |
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| Diluted earnings per share | |
2.42 | |
2.18 | |
1.93 | |
11.0 | |
13.0 |
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| Dividends declared per share | |
1.230 | |
1.020 | |
.855 | |
20.6 | |
19.3 |
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| Book value per share | |
11.07 | |
10.52 | |
10.01 | |
5.2 | |
5.1 |
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| Market value per share | |
29.89 | |
31.32 | |
29.78 | |
(4.6) | |
5.2 |
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| Average common shares outstanding | |
1,831 | |
1,887 | |
1,924 | |
(3.0) | |
(1.9) |
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| Average diluted common shares outstanding | |
1,857 | |
1,913 | |
1,936 | |
(2.9) | |
(1.2) |
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| Financial Ratios | |
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| Return on average assets | |
2.21% | |
2.17% | |
1.99% | |
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| Return on average equity | |
22.5 | |
21.4 | |
19.2 | |
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| Net interest margin (taxable-equivalent basis) | |
3.97 | |
4.25 | |
4.49 | |
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| Efficiency ratio | |
44.3 | |
45.3 | |
45.6 | |
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| Average Balances | |
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| Loans | |
$133,105 | |
$122,141 | |
$118,362 | |
9.0% | |
3.2% |
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| Investment securities | |
42,103 | |
43,009 | |
37,248 | |
(2.1) | |
15.5 |
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| Earning assets | |
178,425 | |
168,123 | |
160,808 | |
6.1 | |
4.5 |
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| Assets | |
203,198 | |
191,593 | |
187,630 | |
6.1 | |
2.1 |
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| Deposits | |
121,001 | |
116,222 | |
116,553 | |
4.1 | |
(.3) |
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| Total Shareholders' equity | |
19,953 | |
19,459 | |
19,393 | |
2.5 | |
.3 |
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| Period End Balances | |
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| Loans | |
$137,806 | |
$126,315 | |
$118,235 | |
9.1% | |
6.8% |
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| Allowance for credit losses | |
2,251 | |
2,269 | |
2,369 | |
(.8) | |
(4.2) |
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| Investment securities | |
39,768 | |
41,481 | |
43,334 | |
(4.1) | |
(4.3) |
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| Assets | |
209,465 | |
195,104 | |
189,471 | |
7.4 | |
3.0 |
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| Deposits | |
124,709 | |
120,741 | |
119,052 | |
3.3 | |
1.4 |
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| Shareholders' equity | |
20,086 | |
19,539 | |
19,242 | |
2.8 | |
1.5 |
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| Regulatory capital ratios | |
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| Tangible common equity | |
5.9% | |
6.4% | |
6.5% | |
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| Tier 1 capital | |
8.2 | |
8.6 | |
9.1 | |
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| Total risk-based capital | |
12.5 | |
13.1 | |
13.6 | |
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| Leverage | |
7.6 | |
7.9 | |
8.0 | |
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