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Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data) |
2008 | 2007 | 2006 | 2008 v 2007 |
2007 v 2006 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total net revenue (taxable-equivalent basis) | $ | 14,677 | $ | 14,060 | $ | 13,742 | 4.4 | % | 2.3 | % | |||
| Noninterest expense | 7,414 | 6,986 | 6,286 | 6.1 | 11.1 | ||||||||
| Provision for credit losses | 3,096 | 792 | 544 | * | 45.6 | ||||||||
| Income taxes and taxable-equivalent adjustments |
1,221 | 1,958 | 2,161 | (37.6 | ) | (9.4 | ) | ||||||
| Net Income | $ | 2,946 | $ | 4,324 | $ | 4,751 | (31.9 | ) | (9.0 | ) | |||
| Net Income applicable to common equity |
$ | 2,823 | $ | 4,264 | $ | 4,703 | (33.8 | ) | (9.3 | ) | |||
Per Common Share |
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| Earnings per share | $ | 1.62 | $ | 2.46 | $ | 2.64 | (34.1 | )% | (6.8 | )% | |||
| Diluted earnings per share | 1.61 | 2.43 | 2.61 | (33.7 | ) | (6.9 | ) | ||||||
| Dividends declared per share | 1.700 | 1.625 | 1.390 | 4.6 | 16.9 | ||||||||
| Book value per share | 10.47 | 11.60 | 11.44 | (9.7 | ) | 1.4 | |||||||
| Market value per share | 25.01 | 31.74 | 36.19 | (21.2 | ) | (12.3 | ) | ||||||
| Average common shares outstanding | 1,742 | 1,735 | 1,778 | .4 | (2.4 | ) | |||||||
| Average diluted common shares outstanding |
1,757 | 1,758 | 1,804 | (.1 | ) | (2.5 | ) | ||||||
Financial Ratios |
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| Return on average assets | 1.21 | % | 1.93 | % | 2.23 | % | |||||||
| Return on average common equity | 13.9 | 21.3 | 23.6 | ||||||||||
| Net interest margin (taxable-equivalent basis) | 3.66 | 3.47 | 3.65 | ||||||||||
| Efficiency ratio (a) | 47.4 | 49.7 | 45.8 | ||||||||||
| Tangible common equity | 3.2 | 4.7 | 5.2 | ||||||||||
| Tangible common equity, excluding accumulated other comprehensive income (loss) |
4.5 | 5.2 | 5.5 | ||||||||||
Average Balances |
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| Loans | $ | 165,552 | $ | 147,348 | $ | 140,601 | 12.4 | % | 4.8 | % | |||
| Investment securities | 42,850 | 41,313 | 39,961 | 3.7 | 3.4 | ||||||||
| Earning assets | 215,046 | 194,683 | 186,231 | 10.5 | 4.5 | ||||||||
| Assets | 244,400 | 223,621 | 213,512 | 9.3 | 4.7 | ||||||||
| Deposits | 136,184 | 121,075 | 120,589 | 12.5 | .4 | ||||||||
| Total shareholders’ equity | 22,570 | 20,997 | 20,710 | 7.5 | 1.4 | ||||||||
Period End Balances |
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| Loans | $ | 185,229 | $ | 153,827 | $ | 143,597 | 20.4 | % | 7.1 | % | |||
| Allowance for credit losses | 3,639 | 2,260 | 2,256 | 61.0 | .2 | ||||||||
| Investment securities | 39,521 | 43,116 | 40,117 | (8.3 | ) | 7.5 | |||||||
| Assets | 265,912 | 237,615 | 219,232 | 11.9 | 8.4 | ||||||||
| Deposits | 159,350 | 131,445 | 124,882 | 21.2 | 5.3 | ||||||||
| Shareholders’ equity | 26,300 | 21,046 | 21,197 | 25.0 | (.7 | ) | |||||||
| Regulatory capital ratios | |||||||||||||
| Tier 1 capital | 10.6 | % | 8.3 | % | 8.8 | % | |||||||
| Total risk-based capital | 14.3 | 12.2 | 12.6 | ||||||||||
| Leverage |
9.8 | 7.9 | 8.2 | ||||||||||
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(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. *Not meaningful |
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