| Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data) |
 |
2004 | |
2003 | |
2002 | |
2004 v 2003 |
|
2003 v 2002 |
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| Total net revenue (taxable-equivalent basis) | |
$12,659.1 | |
$12,530.5 | |
$12,057.9 | |
1.0% | |
3.9% |
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| Noninterest expense | |
5,784.5 | |
5,596.9 | |
5,740.5 | |
3.4 | |
(2.5) |
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| Provision for credit losses | |
669.6 | |
1,254.0 | |
1,349.0 | |
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| Income taxes and taxable-equivalent adjustments | |
2,038.2 | |
1,969.5 | |
1,740.4 | |
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| Income from continuing operations | |
4,166.8 | |
3,710.1 | |
3,228.0 | |
12.3 | |
14.9 |
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| Discontinued operations (after-tax) | |
— | |
22.5 | |
(22.7) | |
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| Cumulative effect of accounting change (after-tax) | |
— | |
— | |
(37.2) | |
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| Net income | |
$4,166.8 | |
$3,732.6 | |
$3,168.1 | |
11.6 | |
17.8 |
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| Per Common Share | |
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| Earnings per share from continuing operations | |
$ 2.21 | |
$ 1.93 | |
$ 1.68 | |
14.5% | |
14.9% |
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| Diluted earnings per share from continuing operations | |
2.18 | |
1.92 | |
1.68 | |
13.5 | |
14.3 |
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| Earnings per share | |
2.21 | |
1.94 | |
1.65 | |
13.9 | |
17.6 |
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| Diluted earnings per share | |
2.18 | |
1.93 | |
1.65 | |
13.0 | |
17.0 |
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| Dividends declared per share | |
1.020 | |
.855 | |
.780 | |
19.3 | |
9.6 |
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| Book value per share | |
10.52 | |
10.01 | |
9.62 | |
5.1 | |
4.1 |
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| Market value per share | |
31.32 | |
29.78 | |
21.22 | |
5.2 | |
40.3 |
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| Average common shares outstanding | |
1,887.1 | |
1,923.7 | |
1,916.0 | |
(1.9) | |
.4 |
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| Average common diluted shares outstanding | |
1,912.9 | |
1,936.2 | |
1,924.8 | |
(1.2) | |
.6 |
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| Financial Ratios | |
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| Return on average assets | |
2.17% | |
1.99% | |
1.84% | |
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| Return on average equity | |
21.4 | |
19.2 | |
18.3 | |
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| Net interest margin (taxable-equivalent basis) | |
4.25 | |
4.49 | |
4.65 | |
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| Efficiency ratio | |
45.3 | |
45.6 | |
48.8 | |
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| Average Balances | |
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| Loans | |
$122,141 | |
$118,362 | |
$114,453 | |
3.2% | |
3.4% |
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| Investment securities | |
43,009 | |
37,248 | |
28,829 | |
15.5 | |
29.2 |
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| Earning assets | |
168,123 | |
160,808 | |
147,410 | |
4.5 | |
9.1 |
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| Assets | |
191,593 | |
187,630 | |
171,948 | |
2.1 | |
9.1 |
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| Deposits | |
116,222 | |
116,553 | |
105,124 | |
(.3) | |
10.9 |
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| Shareholders' equity | |
19,459 | |
19,393 | |
17,273 | |
.3 | |
12.3 |
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| Period End Balances | |
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| Loans | |
$126,315 | |
$118,235 | |
$116,251 | |
6.8% | |
1.7% |
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| Allowance for credit losses | |
2,269 | |
2,369 | |
2,422 | |
(4.2) | |
(2.2) |
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| Investment securities | |
41,481 | |
43,334 | |
28,488 | |
(4.3) | |
52.1 |
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| Assets | |
195,104 | |
189,471 | |
180,027 | |
3.0 | |
5.2 |
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| Deposits | |
120,741 | |
119,052 | |
115,534 | |
1.4 | |
3.0 |
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| Shareholders' equity | |
19,539 | |
19,242 | |
18,436 | |
1.5 | |
4.4 |
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| Regulatory capital ratios | |
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| Tangible common equity | |
6.4% | |
6.5% | |
5.7% | |
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| Tier 1 capital | |
8.6 | |
9.1 | |
8.0 | |
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| Total risk-based capital | |
13.1 | |
13.6 | |
12.4 | |
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| Leverage | |
7.9 | |
8.0 | |
7.7 | |
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