Citizens Financial : 4Q20 FINANCIAL SUPPLEMENT

Financial Supplement

Fourth Quarter and Full Year 2020

1

Table of Contents

Page

Consolidated Financial Highlights	3
Consolidated Statements of Operations (unaudited)	5
Consolidated Balance Sheets (unaudited)	6
Loans and Deposits	7
Average Balance Sheets	8
Average Annualized Yields and Rates	9
Segment Financial Highlights	10
Credit-Related Information:
Nonaccrual loans and leases	14
Loans and Leases 90 Days or More Past Due and Accruing	15
Charge-offs, Recoveries, and Related Ratios	16
Summary of Changes in the Components of the Allowance for Credit Losses	18
Capital and Ratios	19
Non-GAAP Financial Measures and Reconciliations	20

The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward- looking statements language contained in the Company's reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC's website (www.sec.gov) or on the Company's website (www.citizensbank.com). The Company's future financial performance is subject to the risks and uncertainties described in its SEC filings.

2

CONSOLIDATED FINANCIAL HIGHLIGHTS

(in millions, except share, per-share and ratio data)

									QUARTERLY TRENDS												FULL YEAR
																4Q20 Change									2020 Change
			4Q20		3Q20		2Q20		1Q20		4Q19	3Q20				4Q19			2020	2019		2019
														$/bps	%		$/bps		%						$/bps	%
	SELECTED OPERATING DATA
	Total revenue	$1,707	$1,791	$1,750	$1,657	$1,637			($84)	(5%)	$70		4%	$6,905	$6,491		$414	6%
	Noninterest expense	1,012	988	979	1,012	986			24	2	26		3	3,991	3,847		144	4
	Profit before provision for credit
	losses	695	803	771	645	651			(108)	(13)	44		7	2,914	2,644		270	10
	Provision for credit losses	124	428	464	600	110			(304)	(71)	14		13	1,616	393		1,223			NM
	NET INCOME	456	314	253	34	450			142	45	6		1	1,057	1,791		(734)	(41)
	Net income, Underlying1	480	338	263	59	454			142	42	26		6	1,140	1,808		(668)	(37)
	Net income available to common
	stockholders	424	289	225	12	427			135	47	(3)		(1)	950	1,718		(768)	(45)
	Net income available to common
	stockholders, Underlying1	448	313	235	37	431			135	43	17		4	1,033	1,735		(702)	(40)
	PER COMMON SHARE DATA
	Basic earnings	$0.99	$0.68	$0.53	$0.03	$0.98			$0.31	46%	$0.01		1%	$2.22	$3.82		($1.60)	(42%)
	Diluted earnings	0.99	0.68	0.53	0.03	0.98			0.31	46	0.01		1	2.22	3.81		(1.59)	(42)
	Basic earnings, Underlying1	1.05	0.73	0.55	0.09	0.99			0.32	44	0.06		6	2.42	3.86		(1.44)	(37)
	Diluted earnings, Underlying1	1.04	0.73	0.55	0.09	0.99			0.31	42	0.05		5	2.41	3.84		(1.43)	(37)
	Cash dividends declared and paid per
	common share	0.39	0.39	0.39	0.39	0.36			-		-	0.03		8	1.56	1.36		0.20	15
	Book value per common share	48.47	48.01	47.92	47.78	47.63			0.46	1	0.84		2	48.47	47.63		0.84	2
	Tangible book value per common
	share	32.72	32.24	32.13	31.97	32.08			0.48	1	0.64		2	32.72	32.08		0.64	2
	Dividend payout ratio	39 %	58 %	74 %	1,398 %	37 %			(1,829) bps			265	bps			70 %	36%		3,453	bps
	Dividend payout ratio, Underlying1	37	53	71	451	36			(1,608) bps			82	bps			65	35		2,930	bps
	COMMON SHARES OUTSTANDING
	Average: Basic	427,074,822	426,846,096	426,613,053	427,718,421	434,684,606			228,726		-%	(7,609,784)		(2%)	427,062,537	449,731,453		(22,668,916)	(5%)
	Diluted	428,881,252	427,992,349	427,566,920	429,388,855	436,500,829			888,903		-	(7,619,577)		(2)	428,157,780	451,213,701		(23,055,921)	(5)
	Common shares at period-end	427,209,831	427,073,084	426,824,594	426,586,533	433,121,083			136,747		-	(5,911,252)		(1)	427,209,831	433,121,083		(5,911,252)	(1)

• These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

3

CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio and headcount data)

											QUARTERLY TRENDS																FULL YEAR
																				4Q20 Change												2020 Change
		4Q20			3Q20			2Q20			1Q20			4Q19			3Q20			4Q19	2020		2019				2019
																	$/bps			%		$/bps	%									$/bps	%
FINANCIAL RATIOS
Net interest margin	2.75	%	2.82	%	2.87	%	3.09	%	3.04	%		(7) bps			(29) bps	2.88	%	3.14	%			(26) bps
Net interest margin, FTE1	2.75		2.83		2.88		3.10		3.06			(8) bps			(31) bps	2.89		3.16				(27) bps
Return on average common equity	8.20		5.60		4.44		0.24		8.30			260	bps			(10) bps	4.65		8.45				(380) bps
Return on average common equity, Underlying2	8.66		6.05		4.63		0.74		8.36			261	bps		30	bps	5.05		8.53				(348) bps
Return on average tangible common equity	12.20		8.33		6.62		0.36		12.39			387	bps			(19) bps	6.93		12.64				(571) bps
Return on average tangible common equity,
Underlying2	12.89		9.00		6.90		1.10		12.49			389	bps		40	bps	7.53		12.76				(523) bps
Return on average total assets	1.00		0.70		0.57		0.08		1.08			30	bps			(8) bps	0.60		1.10				(50) bps
Return on average total assets, Underlying2	1.05		0.76		0.59		0.14		1.09			29	bps			(4) bps	0.65		1.11				(46) bps
Return on average total tangible assets	1.04		0.73		0.59		0.09		1.13			31	bps			(9) bps	0.62		1.15				(53) bps
Return on average total tangible assets, Underlying2	1.10		0.79		0.61		0.15		1.14			31	bps			(4) bps	0.67		1.16				(49) bps
Effective income tax rate	20.16		16.10		17.69		24.13		16.76			406	bps		340	bps	18.54		20.43				(189) bps
Effective income tax rate, Underlying2	21.70		16.79		19.36		24.52		21.52			491	bps		18	bps	19.92		22.03				(211) bps
Efficiency ratio	59.28		55.18		55.91		61.10		60.28			410	bps			(100) bps	57.80		59.28				(148) bps
Efficiency ratio, Underlying2	56.83		53.44		54.85		59.08		58.02			339	bps			(119) bps	55.99		58.23				(224) bps
Noninterest income as a % of total revenue	34 %	37 %	34 %	30 %	30 %		(300) bps		400	bps	34 %	29 %			500	bps
CAPITAL RATIOS - PERIOD-END (PRELIMINARY)
CET1 capital ratio	10.0	%	9.8	%	9.6	%	9.4	%	10.0	%
Tier 1 capital ratio	11.3		11.2		10.9		10.5		11.1
Total capital ratio	13.4		13.3		13.1		12.5		13.0
Tier 1 leverage ratio	9.4		9.5		9.3		9.6		10.0
Tangible common equity ratio	7.9		8.0		7.9		8.0		8.7
SELECTED BALANCE SHEET DATA
Loans-to-deposits ratio (period-end balances)	83.64	%	86.81	%	87.53	%	95.54	%	95.03	%		(317) bps			(1,139) bps	83.64	%	95.03	%			(1,139) bps
Loans-to-deposits ratio (average balances)	84.99		88.36		90.93		95.60		94.63			(337) bps			(964) bps	89.77		95.62				(585) bps
Full-time equivalent colleagues	17,584		17,930		18,312		17,863		17,997			(346)			(2)	(413)	(2)	17,584		17,997				(413)	(2)

• Net interest income and net interest margin is presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21%. The FTE impact is predominantly attributable to commercial loans for the periods presented.
  2 These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

4

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions)

								QUARTERLY TRENDS													FULL YEAR
																4Q20 Change								2020 Change
		4Q20		3Q20		2Q20		1Q20		4Q19		3Q20			4Q19		2020	2019			2019
													$			%		$			%							$			%
INTEREST INCOME
Interest and fees on loans and leases	$1,105	$1,120	$1,192	$1,302	$1,312			($15)			(1%)	($207)			(16%)	$4,719	$5,441			($722)			(13%)
Interest and fees on loans held for sale	19	21	20	15	18			(2)			(10)	1			6	75	63			12			19
Interest and fees on other loans held for sale	1	16	7	9	5			(15)			(94)	(4)			(80)	33	13			20			154
Investment securities	121	121	130	147	159			-	-	(38)			(24)	519	642			(123)			(19)
Interest-bearing deposits in banks		3		2		1		5		7			1			50		(4)			(57)		11		30			(19)			(63)
Total interest income	1,249	1,280	1,350	1,478	1,501			(31)			(2)	(252)			(17)	5,357	6,189			(832)			(13)
INTEREST EXPENSE
Deposits	69	89	124	227	263			(20)			(22)	(194)			(74)	509	1,155			(646)			(56)
Short-term borrowed funds	1		-		-	1	2			1			100	(1)			(50)	2	10			(8)			(80)
Long-term borrowed funds		50		54		66		90		93			(4)			(7)		(43)			(46)		260		410			(150)			(37)
Total interest expense		120		143		190		318		358			(23)			(16)		(238)			(66)		771		1,575			(804)			(51)
Net interest income	1,129	1,137	1,160	1,160	1,143			(8)			(1)	(14)			(1)	4,586	4,614			(28)			(1)
NONINTEREST INCOME
Mortgage banking fees	193	287	276	159	80			(94)			(33)	113			141	915	302			613			203
Service charges and fees	104	97	84	118	128			7			7	(24)			(19)	403	505			(102)			(20)
Capital markets fees	88	58	61	43	66			30			52	22			33	250	216			34			16
Card fees	56	57	48	56	64			(1)			(2)	(8)			(13)	217	254			(37)			(15)
Trust and investment services fees	52	53	45	53	52			(1)			(2)		-	-	203	202			1			-
Letter of credit and loan fees	38	37	31	34	35			1			3	3			9	140	135			5			4
Foreign exchange and interest rate products	35	27	34	24	49			8			30	(14)			(29)	120	155			(35)			(23)
Securities gains, net		-	1	3		-	4			(1)			(100)	(4)			(100)	4	19			(15)			(79)
Other income		12		37		8		10		16			(25)			(68)		(4)			(25)		67		89			(22)			(25)
Total noninterest income		578		654		590		497		494			(76)			(12)		84			17		2,319		1,877			442			24
TOTAL REVENUE	1,707	1,791	1,750	1,657	1,637			(84)			(5)	70			4	6,905	6,491			414			6
Provision for credit losses	124	428	464	600	110			(304)			(71)	14			13	1,616	393			1,223			NM
NONINTEREST EXPENSE
Salaries and employee benefits	537	524	513	549	502			13			2	35			7	2,123	2,026			97			5
Equipment and software expense	141	149	142	133	133			(8)			(5)	8			6	565	514			51			10
Outside services	148	139	131	135	142			9			6	6			4	553	498			55			11
Occupancy	84	81	82	84	88			3			4	(4)			(5)	331	333			(2)			(1)
Other operating expense		102		95		111		111		121			7			7		(19)			(16)		419		476			(57)			(12)
Total noninterest expense		1,012		988		979		1,012		986			24			2		26			3		3,991		3,847			144			4
Income before income tax expense	571	375	307	45	541			196			52	30			6	1,298	2,251			(953)			(42)
Income tax expense		115		61		54		11		91			54			89		24			26		241		460			(219)			(48)
Net income	$456	$314	$253	$34	$450			$142			45%	$6			1%	$1,057	$1,791			($734)			(41%)
Net income, Underlying1		$480		$338		$263		$59		$454			$142			42%		$26			6%		$1,140		$1,808			($668)			(37%)
Net income available to common stockholders
$424	$289	$225	$12	$427			$135			47%	($3)			(1%)	$950	$1,718			($768)			(45%)
Net income available to common stockholders, Underlying1	$448	$313	$235	$37	$431			$135			43%	$17			4%	$1,033	$1,735			($702)			(40%)

• These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

5

CONSOLIDATED BALANCE SHEETS (unaudited) (in millions)

PERIOD-END BALANCES

AS OF

DECEMBER 31, 2020 CHANGE

Dec 31, 2020

Sept 30, 2020 June 30, 2020 Mar 31, 2020

Dec 31, 2019

September 30, 2020

December 31, 2019

$

%

$

%

ASSETS
Cash and due from banks	$1,037	$904	$1,088	$1,155	$1,175		$133	15%	($138)	(12%)
Interest-bearing cash and due from banks	11,696	8,312	6,358	2,903	2,211		3,384	41	9,485		NM
Interest-bearing deposits in banks	306	328	475	280	297		(22)	(7)	9	3
Debt securities available for sale, at fair value	22,942	22,884	22,144	22,307	20,613		58		-	2,329	11
Debt securities held to maturity	3,235	2,578	2,856	3,071	3,202		657	25	33	1
Loans held for sale, at fair value	3,564	3,587	3,631	2,911	1,946		(23)	(1)	1,618	83
Other loans held for sale	439	127	1,362	350	1,384		312	246	(945)	(68)
Loans and leases	123,090	124,071	125,713	127,528	119,088		(981)	(1)	4,002	3
Less: Allowance for loan and lease losses	(2,443)	(2,542)	(2,448)	(2,171)	(1,252)		99	(4)	(1,191)	95
Net loans and leases	120,647		121,529		123,265		125,357		117,836		(882)	(1)		2,811	2
Derivative assets	1,915	2,030	2,069	1,968	807		(115)	(6)	1,108	137
Premises and equipment	759	747	751	746	761		12	2	(2)		-
Bank-owned life insurance	1,756	1,751	1,739	1,736	1,725		5		-	31	2
Goodwill	7,050	7,050	7,050	7,050	7,044		-		-	6		-
Other assets1	8,003	7,401	7,086	6,885	6,732		602	8	1,271	19
TOTAL ASSETS	$183,349		$179,228		$179,874		$176,719		$165,733		$4,121	2%		$17,616	11%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits:
Noninterest-bearing	$43,831	$41,249	$40,545	$32,398	$29,233		$2,582	6%	$14,598	50%
Interest-bearing	103,333	101,672	103,073	101,077	96,080		1,661	2	7,253	8
Total deposits	147,164		142,921		143,618		133,475		125,313		4,243	3		21,851	17
Short-term borrowed funds	243	252	255	1,059	274		(9)	(4)	(31)	(11)
Derivative liabilities	128	100	198	234	120		28	28	8	7
Deferred taxes, net	629	638	709	782	866		(9)	(1)	(237)	(27)
Long-term borrowed funds:
FHLB advances	19	19	6	8,007	5,008		-		-	(4,989)	(100)
Senior debt	6,740	7,504	7,519	6,775	7,382		(764)	(10)	(642)	(9)
Subordinated debt and other debt	1,587	1,586	1,677	1,655	1,657		1		-	(70)	(4)
Total long-term borrowed funds	8,346		9,109		9,202		16,437		14,047		(763)	(8)		(5,701)	(41)
Other liabilities2	4,166	3,739	3,474	2,782	2,912		427	11	1,254	43
TOTAL LIABILITIES	160,676		156,759		157,456		154,769		143,532		3,917	2		17,144	12
STOCKHOLDERS' EQUITY
Preferred stock:
$25.00 par value, 100,000,000 shares authorized for each of the periods
presented	1,965	1,965	1,965	1,570	1,570		-		-	395	25
Common stock:
$0.01 par value, 1,000,000,000 shares authorized for each of the periods
presented	6	6	6	6	6		-		-		-		-
Additional paid-in capital	18,940	18,922	18,908	18,901	18,891		18		-	49		-
Retained earnings	6,445	6,189	6,068	6,011	6,498		256	4	(53)	(1)
Treasury stock, at cost	(4,623)	(4,623)	(4,623)	(4,623)	(4,353)		-		-	(270)	(6)
Accumulated other comprehensive (loss) income	(60)	10	94	85	(411)		(70)		NM	351	85
TOTAL STOCKHOLDERS' EQUITY	22,673		22,469		22,418		21,950		22,201		204	1		472	2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$183,349	$179,228	$179,874	$176,719	$165,733		$4,121	2%	$17,616	11%
Memo: Total tangible common equity	$13,979	$13,771	$13,716	$13,639	$13,893		$208	2%	$86	1%

• In the fourth quarter of 2020, we reclassified due from broker as well as equity securities, at fair value and at cost, to other assets. Prior periods have been adjusted to conform with the current period presentation.
  2 In the fourth quarter of 2020, we reclassified due to broker to other liabilities. Prior periods have been adjusted to conform with the current period presentation.

6

LOANS AND DEPOSITS (in millions)

PERIOD-END BALANCES					AS OF								DECEMBER 31, 2020 CHANGE
	Dec 31, 2020		Sept 30, 2020		June 30, 2020		Mar 31, 2020		Dec 31, 2019		Sept 30, 2020			December 31, 2019
										$			%	$	%
LOANS AND LEASES
Commercial and industrial¹	$44,173	$45,185	$48,017	$49,092	$41,479	($1,012)			(2%)	$2,694	6%
Commercial real estate	14,652	14,889	14,485	14,502	13,522	(237)			(2)	1,130	8
Leases	1,968		2,288		2,428		2,438		2,537		(320)			(14)		(569)	(22)
Total commercial	60,793		62,362		64,930		66,032		57,538		(1,569)			(3)		3,255	6
Residential mortgages	19,539	19,633	19,245	18,721	19,083	(94)			-	456	2
Home equity	12,149	12,322	12,541	12,992	13,154	(173)			(1)	(1,005)	(8)
Automobile	12,153	12,035	12,028	12,157	12,120	118			1	33		-
Education	12,308	11,631	10,591	10,887	10,347	677			6	1,961	19
Other retail	6,148		6,088		6,378		6,739		6,846		60			1		(698)	(10)
Total retail	62,297		61,709		60,783		61,496		61,550		588			1		747	1
Total loans and leases	$123,090		$124,071		$125,713		$127,528		$119,088		($981)			(1%)		$4,002	3%
Loans held for sale, at fair value	3,564	3,587	3,631	2,911	1,946	(23)			(1)	1,618	83
Other loans held for sale	439	127	1,362	350	1,384	312			246		(945)	(68)
Loans and leases and loans held for sale	$127,093	$127,785	$130,706	$130,789	$122,418	($692)			(1%)	$4,675	4%
DEPOSITS
Demand	$43,831	$41,249	$40,545	$32,398	$29,233	$2,582			6%	$14,598	50%
Checking with interest	27,204	27,141	27,200	25,358	24,840	63			-	2,364	10
Regular savings	18,044	17,237	16,665	14,702	13,779	807			5	4,265	31
Money market accounts	48,569	46,400	44,965	42,972	38,725	2,169			5	9,844	25
Term deposits	9,516		10,894		14,243		18,045		18,736		(1,378)			(13)		(9,220)	(49)
Total deposits	$147,164	$142,921	$143,618	$133,475	$125,313	$4,243			3%	$21,851	17%

• The commercial loan class has been renamed commercial and industrial, and the commercial loans and leases loan segment has been renamed commercial.

7

AVERAGE BALANCE SHEETS (in millions)

							QUARTERLY TRENDS													FULL YEAR
															4Q20 Change							2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19		3Q20			4Q19		2020	2019		2019
												$			%		$			%						$			%
ASSETS
Interest-bearing cash and due from banks and deposits in banks	$11,303	$6,250	$5,231	$1,859	$1,970			$5,053			81%	$9,333			NM	$6,175	$1,544		$4,631			NM
Taxable investment securities	25,471		24,654		25,180		25,339		25,305			817			3		166			1		25,160		25,425		(265)			(1)
Non-taxable investment securities	3	4	4	4	5			(1)			(25)	(2)			(40)	4	5		(1)			(20)
Total investment securities	25,474		24,658		25,184		25,343		25,310			816			3		164			1		25,164		25,430		(266)			(1)
Investment securities and interest-bearing deposits	36,777		30,908		30,415		27,202		27,280			5,869			19		9,497			35		31,339		26,974		4,365			16
Commercial and industrial	44,594		46,844		50,443		43,152		42,012			(2,250)			(5)		2,582			6		46,255		41,702		4,553			11
Commercial real estate	14,745	14,644	14,540	13,876	13,103			101			1	1,642			13	14,452	13,160		1,292			10
Leases	2,176	2,373	2,426	2,482	2,546			(197)			(8)	(370)			(15)	2,365	2,694		(329)			(12)
Total commercial	61,515		63,861		67,409		59,510		57,661			(2,346)			(4)		3,854			7		63,072		57,556		5,516			10
Residential mortgages	19,543		19,427		18,872		18,866		19,495			116			1		48			-		19,178		19,308		(130)			(1)
Home equity	12,239	12,416	12,736	13,042	13,265			(177)			(1)	(1,026)			(8)	12,607	13,645		(1,038)			(8)
Automobile	12,066	12,019	11,998	12,173	12,099			47			-	(33)			-	12,064	12,047		17			-
Education	11,931	10,929	11,183	10,610	9,888			1,002			9	2,043			21	11,165	9,415		1,750			19
Other retail	6,167	6,260	6,557	6,854	6,497			(93)			(1)	(330)			(5)	6,458	5,929		529			9
Total retail	61,946		61,051		61,346		61,545		61,244			895			1		702			1		61,472		60,344		1,128			2
Total loans and leases	123,461		124,912		128,755		121,055		118,905			(1,451)			(1)		4,556			4		124,544		117,900		6,644			6
Loans held for sale, at fair value	3,185	3,295	2,710	1,890	2,209			(110)			(3)	976			44	2,772	1,689		1,083			64
Other loans held for sale	110	1,061	510	799	517			(951)			(90)	(407)			(79)	620	251		369			147
Total interest-earning assets	163,533		160,176		162,390		150,946		148,911			3,357			2		14,622			10		159,275		146,814		12,461			8
Allowance for loan and lease losses	(2,541)	(2,444)	(2,172)	(1,708)	(1,260)			(97)			(4)	(1,281)			(102)	(2,218)	(1,244)		(974)			(78)
Goodwill	7,050	7,050	7,050	7,046	7,044			-	-	6			-	7,049	7,036		13			-
Other noninterest-earning assets	13,019	12,893	12,525	10,893	9,951			126			1	3,068			31	12,336	9,570		2,766			29
TOTAL ASSETS	$181,061		$177,675		$179,793		$167,177		$164,646			$3,386			2%		$16,415			10%		$176,442		$162,176		$14,266			9%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Checking with interest	$26,432	$26,638	$26,312	$24,612	$23,545			($206)			(1%)	$2,887			12%	$26,002	$23,470		$2,532			11%
Money market accounts	48,667	45,187	45,187	39,839	38,809			3,480			8	9,858			25	44,732	36,613		8,119			22
Regular savings	17,566	16,902	15,883	14,201	13,582			664			4	3,984			29	16,144	13,247		2,897			22
Term deposits	10,191	12,032	16,470	18,616	19,788			(1,841)			(15)	(9,597)			(48)	14,309	21,035		(6,726)			(32)
Total interest-bearing deposits	102,856		100,759		103,852		97,268		95,724			2,097			2		7,132			7		101,187		94,365		6,822			7
Short-term borrowed funds	232	240	222	644	504			(8)			(3)	(272)			(54)	334	665		(331)			(50)
FHLB advances	19	6	2,595	5,138	3,259			13			217	(3,240)			(99)	1,929	3,637		(1,708)			(47)
Senior debt	6,845	7,515	7,499	7,263	7,914			(670)			(9)	(1,069)			(14)	7,280	7,722		(442)			(6)
Subordinated debt and other debt	1,586	1,675	1,661	1,656	1,657			(89)			(5)	(71)			(4)	1,644	1,655		(11)			(1)
Total long-term borrowed funds	8,450		9,196		11,755		14,057		12,830			(746)			(8)		(4,380)			(34)		10,853		13,014		(2,161)			(17)
Total borrowed funds	8,682		9,436		11,977		14,701		13,334			(754)			(8)		(4,652)			(35)		11,187		13,679		(2,492)			(18)
Total interest-bearing liabilities	111,538		110,195		115,829		111,969		109,058			1,343			1		2,480			2		112,374		108,044		4,330			4
Total demand deposits	42,411	40,608	37,745	29,362	29,928			1,803			4	12,483			42	37,553	28,936		8,617			30
Other liabilities	4,600	4,374	4,086	4,053	3,819			226			5	781			20	4,280	3,683		597			16
TOTAL LIABILITIES	158,549		155,177		157,660		145,384		142,805			3,372			2		15,744			11		154,207		140,663		13,544			10
STOCKHOLDERS' EQUITY	22,512		22,498		22,133		21,793		21,841			14			-		671			3		22,235		21,513		722			3
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$181,061		$177,675		$179,793		$167,177		$164,646			$3,386			2%		$16,415			10%		$176,442		$162,176		$14,266			9%
Memo: Total loans and leases, including loans held for sale	$126,756	$129,268	$131,975	$123,744	$121,631			($2,512)			(2%)	$5,125			4%	$127,936	$119,840		$8,096			7%
Total deposits (interest-bearing and demand)	$145,267	$141,367	$141,597	$126,630	$125,652			$3,900			3%	$19,615			16%	$138,740	$123,301		$15,439			13%
Total average tangible common equity	$13,814	$13,797	$13,706	$13,484	$13,660			$17			-%	$154			1%	$13,701	$13,589		$112			1%

8

AVERAGE ANNUALIZED YIELDS AND RATES (in millions, except rates)

											QUARTERLY TRENDS														FULL YEAR
		4Q20			3Q20			2Q20			1Q20			4Q19			2020			2019
				Income/				Income/				Income/				Income/				Income/					Income/					Income/
	Rate			Expense	Rate			Expense	Rate			Expense	Rate			Expense	Rate			Expense		Rate			Expense		Rate			Expense
INTEREST-EARNING ASSETS
Interest-bearing cash and due from banks and deposits in banks	0.10%	$3		0.10%	$2		0.09%	$1		1.12%	$5		1.49%	$7	0.18%	$11	1.94%	$30
Taxable investment securities	1.89			121		1.95			121		2.15			130		2.32			147		2.47			159	2.06			519	2.51			642
Non-taxable investment securities	2.60			-	2.60			-	2.60			-	2.60			-	2.60			-	2.60			-	2.60			-
Total investment securities	1.89			121		1.95			121		2.15			130		2.32			147		2.47			159	2.06			519	2.51			642
Investment securities and interest-bearing deposits				124					123					131					152					166					530					672
Commercial and industrial	3.25			370		3.20			383		3.23			412		3.82			417		3.95			424	3.36			1,582	4.25			1,797
Commercial real estate	2.58		97		2.57		96		2.87		106		3.96		139		4.26		142	2.98		438	4.71		628
Leases	2.58		14		2.65		16		2.75		16		2.83		18		2.77		18	2.71		64	2.84		77
Total commercial	3.07			481		3.03			495		3.14			534		3.81			574		3.97			584	3.25			2,084	4.29			2,502
Residential mortgages	3.08			151		3.15			153		3.19			150		3.47			164		3.40			165	3.22			618	3.56			687
Home equity	3.18		98		3.21		100		3.50		111		4.69		152		4.73		159	3.66		461	5.13		700
Automobile	4.26		129		4.23		128		4.33		129		4.34		131		4.32		132	4.29		517	4.20		506
Education	4.55		136		4.74		130		5.21		145		5.64		149		5.76		143	5.02		560	5.89		555
Other retail	7.10		110		7.22		114		7.52		123		7.77		132		7.83		129	7.41		479	8.27		491
Total retail	4.01			624		4.08			625		4.31			658		4.75			728		4.72			728	4.29			2,635	4.87			2,939
Total loans and leases	3.54			1,105		3.54			1,120		3.69			1,192		4.29			1,302		4.36			1,312	3.76			4,719	4.59			5,441
Loans held for sale, at fair value	2.41		19		2.60		21		2.85		20		3.28		15		3.38		18	2.72		75	3.74		63
Other loans held for sale	3.14		1		6.02		16		4.66		7		4.31		9		3.89		5	5.22		33	5.10		13
Total interest-earning assets	3.02			1,249		3.15			1,280		3.33			1,350		3.91			1,478		3.98			1,501	3.35			5,357	4.19			6,189
INTEREST-BEARING LIABILITIES
Checking with interest	0.11		8		0.13		8		0.17		11		0.60		37		0.71		42	0.24		64	0.87		203
Money market accounts	0.22		27		0.28		33		0.35		39		0.94		93		1.12		110	0.43		192	1.23		450
Regular savings	0.15		7		0.24		10		0.39		15		0.51		18		0.52		17	0.31		50	0.57		75
Term deposits	1.09		27		1.25		38		1.44		59		1.70		79		1.88		94	1.42		203	2.03		427
Total interest-bearing deposits	0.27			69		0.35			89		0.48			124		0.94			227		1.09			263	0.50			509	1.22			1,155
Short-term borrowed funds	0.44		1		0.13			-	0.29			-	0.76		1		1.07		2	0.52		2	1.47		10
FHLB advances	0.93			-	1.42			-	0.86		6		1.87		24		1.98		16	1.53		30	2.39		88
Senior debt	1.93		33		1.84		35		2.25		42		2.69		49		3.02		60	2.18		159	3.29		254
Subordinated debt and other debt	4.35		17		4.67		19		4.22		18		4.13		17		4.20		17	4.34		71	4.12		68
Total long-term borrowed funds	2.38			50		2.35			54		2.22			66		2.56			90		2.91			93	2.39			260	3.14			410
Total borrowed funds	2.33			51		2.30			54		2.18			66		2.48			91		2.84			95	2.33			262	3.06			420
Total interest-bearing liabilities	0.43			120		0.52			143		0.66			190		1.14			318		1.30			358	0.69			771	1.46			1,575
INTEREST RATE SPREAD	2.60					2.63					2.67					2.77					2.68				2.66				2.73
NET INTEREST MARGIN AND NET INTEREST INCOME	2.75 %		$1,129		2.82 %		$1,137		2.87 %		$1,160		3.09 %		$1,160		3.04 %		$1,143	2.88 %		$4,586	3.14 %		$4,614
NET INTEREST MARGIN AND NET INTEREST INCOME, FTE1	2.75 %		$1,132		2.83 %		$1,140		2.88 %		$1,163		3.10 %		$1,164		3.06 %		$1,147	2.89 %		$4,599	3.16 %		$4,635
Memo: Total deposit costs	0.19	%	$69		0.25	%	$89		0.35	%	$124		0.72	%	$227		0.83	%	$263	0.37	%	$509	0.94	%	$1,155

1Net interest income and net interest margin is presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21%. The FTE impact is predominantly attributable to commercial loans for the periods presented.

9

SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING (in millions, except ratio data)

							QUARTERLY TRENDS														FULL YEAR
CONSUMER BANKING															4Q20 Change										2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19		3Q20				4Q19		2020	2019			2019
											$/bps			%		$/bps			%						$/bps			%
Net interest income	$859	$845	$814	$793	$796		$14				2%	$63				8%	$3,311	$3,182		$129				4%
Noninterest income	375		495		428		357		296		(120)				(24)		79				27		1,655		1,156		499				43
Total revenue	1,234	1,340	1,242	1,150	1,092		(106)				(8)	142				13	4,966	4,338		628				14
Noninterest expense	749		742		735		738		718		7				1		31				4		2,964		2,851		113				4
Profit before provision for credit losses	485	598	507	412	374		(113)				(19)	111				30	2,002	1,487		515				35
Provision for credit losses	56		55		80		97		97		1				2		(41)				(42)		288		325		(37)				(11)
Income before income tax expense	429	543	427	315	277		(114)				(21)	152				55	1,714	1,162		552				48
Income tax expense	107		136		107		79		68		(29)				(21)		39				57		429		287		142				49
Net income	$322	$407	$320	$236	$209		($85)				(21%)	$113				54%	$1,285	$875		$410				47%
AVERAGE BALANCES
Total assets	$74,392	$73,605	$71,634	$68,415	$68,069		$787				1%	$6,323				9%	$72,022	$66,240		$5,782				9%
Total loans and leases1	69,650	69,719	68,205	65,343	65,157		(69)				-	4,493				7	68,237	63,396		4,841				8
Deposits	95,007	94,212	91,648	85,228	85,477		795				1	9,530				11	91,541	84,835		6,706				8
Interest-earning assets	70,529	69,925	68,256	65,393	65,208		604				1	5,321				8	68,535	63,449		5,086				8
KEY METRICS
Net interest margin	4.85 %	4.81 %	4.80 %	4.88 %	4.85 %		4	bps			-	bps		4.83 %	5.02 %		(19) bps
Efficiency ratio	60.75	55.35	59.19	64.16	65.74		540	bps			(499) bps		59.69	65.72		(603) bps
Loans-to-deposits ratio (period-end balances)	69.38	70.61	69.17	72.94	74.15		(123) bps			(477) bps		69.38	74.15		(477) bps
Loans-to-deposits ratio (average balances)	70.12	69.88	71.59	74.07	73.37		24	bps			(325) bps		71.34	72.81		(147) bps
Return on average total tangible assets	1.72	2.21	1.80	1.39	1.22		(49) bps		50	bps		1.79	1.32		47	bps
1Includes loans held for sale.

10

SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING, CONTINUED (in millions, except ratio data)

							QUARTERLY TRENDS														FULL YEAR
															4Q20 Change										2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19	3Q20				4Q19		2020	2019		2019
												$/bps			%		$/bps	%						$/bps	%
MORTGAGE BANKING FEES
Production revenue	$194	$275	$271	$136	$61			($81)			(29%)	$133				218%	$876	$221		$655			NM
Mortgage servicing revenue	3	2	9	17	16			1			50	(13)				(81)	31	51		(20)	(39)
MSR valuation changes, net of hedge impact	(3)		10		(4)		6		4			(13)			NM		(7)				NM		9		31		(22)		(71)
Total mortgage banking fees	$194	$287	$276	$159	$81			($93)			(32%)	$113				140%	$916	$303		$613	202%
Gain on sale of secondary originations	2.09 %	3.04 %	3.09 %	2.36 %	0.98 %			(95) bps		111	bps		2.67 %	1.18 %		149	bps
RESIDENTIAL REAL ESTATE ORIGINATIONS
Retail	$4,096	$4,300	$3,882	$2,523	$3,196			($204)			(5%)	$900				28%	$14,801	$9,395		$5,406	58%
Third Party	6,762		6,811		7,388		4,813		5,750			(49)			(1)		1,012				18		25,774		17,011		8,763		52
Total	$10,858	$11,111	$11,270	$7,336	$8,946			($253)			(2%)	$1,912				21%	$40,575	$26,406		$14,169	54%
Originated for sale	85 %	82 %	81 %	83 %	80 %			300	bps		500	bps		83 %	80 %		300	bps
Originated for investment	15		18		19		17		20			(300) bps			(500) bps			17		20		(300) bps
Total	100 %	100 %	100 %	100 %	100 %													100 %	100 %
MORTGAGE SERVICING INFORMATION (UPB)
Loans serviced for others	$81,240	$80,700	$79,942	$79,157	$77,526			$540			1%	$3,714				5%	$81,240	$77,526		$3,714	5%
Owned loans serviced	22,582		22,193		21,642		21,057		20,831			389			2		1,751				8		22,582		20,831		1,751		8
Total	$103,822	$102,893	$101,584	$100,214	$98,357			$929			1%	$5,465				6%	$103,822	$98,357		$5,465	6%
MSR CARRYING VALUE1
MSR at fair value	$658	$606	$568	$577	$642			$52			9%	$16				2%	$658	$642		$16	2%
MSR at lower of cost or market	-		-		-		-		182			-			-		(182)				(100)		-		182		(182)		(100)
Total	$658	$606	$568	$577	$824			$52			9%	($166)				(20%)	$658	$824		($166)	(20%)

1Beginning in the first quarter of 2020, mortgage servicing rights previously accounted for at lower of cost or market are now accounted for at fair value.

11

SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING (in millions, except ratio data)

							QUARTERLY TRENDS														FULL YEAR
COMMERCIAL BANKING															4Q20 Change										2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19		3Q20				4Q19		2020	2019			2019
											$/bps				%		$/bps			%						$/bps			%
Net interest income	$438	$421	$419	$365	$363		$17				4%	$75				21%	$1,643	$1,466		$177				12%
Noninterest income	182		144		144		125		175		38				26		7				4		595		607		(12)				(2)
Total revenue	620	565	563	490	538		55				10	82				15	2,238	2,073		165				8
Noninterest expense	216		210		213		221		219		6				3		(3)				(1)		860		858		2				-
Profit before provision for credit losses	404	355	350	269	319		49				14	85				27	1,378	1,215		163				13
Provision for credit losses	124		161		70		43		24		(37)				(23)		100				NM		398		97		301				NM
Income before income tax expense	280	194	280	226	295		86				44	(15)				(5)	980	1,118		(138)				(12)
Income tax expense	59		41		59		47		64		18				44		(5)				(8)		206		248		(42)				(17)
Net income	$221	$153	$221	$179	$231		$68				44%	($10)				(4%)	$774	$870		($96)				(11%)
AVERAGE BALANCES
Total assets	$58,212	$60,889	$65,280	$59,005	$56,407		($2,677)				(4%)	$1,805				3%	$60,839	$55,947		$4,892				9%
Total loans and leases1	55,407	57,796	62,011	56,555	54,523		(2,389)				(4)	884				2	57,935	54,355		3,580				7
Deposits	44,920	41,393	41,750	33,545	32,715		3,527				9	12,205				37	40,417	31,085		9,332				30
Interest-earning assets	55,752	58,177	62,422	57,016	54,905		(2,425)				(4)	847				2	58,334	54,666		3,668				7
KEY METRICS
Net interest margin	3.12 %	2.88 %	2.70 %	2.57 %	2.62 %		24	bps		50	bps		2.82 %	2.68 %		14	bps
Efficiency ratio	34.94	37.03	37.93	45.06	40.60		(209) bps			(566) bps		38.43	41.38		(295) bps
Loans-to-deposits ratio (period-end balances)	121.09	129.43	140.79	164.10	165.24		(834) bps			(4,415) bps		121.09	165.24		(4,415) bps
Loans-to-deposits ratio (average balances)	122.75	138.48	147.03	167.18	165.80		(1,573) bps			(4,305) bps		142.20	173.85		(3,165) bps
Return on average total tangible assets	1.51	1.01	1.36	1.22	1.63		50	bps			(12) bps		1.27	1.56		(29) bps
1Includes loans held for sale.

12

SEGMENT FINANCIAL HIGHLIGHTS - OTHER (in millions)

							QUARTERLY TRENDS													FULL YEAR
OTHER1															4Q20 Change							2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19			3Q20			4Q19			2020		2019		2019
												$			%		$			%						$			%
Net interest income	($168)	($129)	($73)	$2	($16)			($39)			(30%)	($152)			NM	($368)	($34)		($334)			NM
Noninterest income	21		15		18		15		23			6			40		(2)			(9)		69		114		(45)			(39)
Total revenue	(147)	(114)	(55)	17	7			(33)			(29)	(154)			NM	(299)	80		(379)			NM
Noninterest expense	47		36		31		53		49			11			31		(2)			(4)		167		138		29			21
Loss before provision for credit losses	(194)	(150)	(86)	(36)	(42)			(44)			(29)	(152)			NM	(466)	(58)		(408)			NM
Provision for credit losses	(56)		212		314		460		(11)			(268)			NM		(45)			NM		930		(29)		959			NM
Loss before income tax benefit	(138)	(362)	(400)	(496)	(31)			224			62	(107)			NM	(1,396)	(29)		(1,367)			NM
Income tax benefit	(51)		(116)		(112)		(115)		(41)			65			56		(10)			(24)		(394)		(75)		(319)			NM
Net (loss) income	($87)	($246)	($288)	($381)	$10			$159			65%	($97)			NM	($1,002)	$46		($1,048)			NM
AVERAGE BALANCES
Total assets	$48,457	$43,181	$42,879	$39,757	$40,170			$5,276			12%	$8,287			21%	$43,581	$39,989		$3,592			9%
Total loans and leases2	1,699	1,753	1,759	1,846	1,951			(54)			(3)	(252)			(13)	1,764	2,089		(325)			(16)
Deposits	5,340	5,762	8,199	7,857	7,460			(422)			(7)	(2,120)			(28)	6,782	7,381		(599)			(8)
Interest-earning assets	37,252	32,074	31,712	28,537	28,798			5,178			16	8,454			29	32,406	28,699		3,707			13

1Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments.

2Includes loans held for sale.

13

CREDIT-RELATED INFORMATION (in millions, except ratio data)

					AS OF							DECEMBER 31, 2020 CHANGE
	Dec 31, 2020		Sept 30, 2020		June 30, 2020		Mar 31, 2020		Dec 31, 2019		Sept 30, 2020			December 31, 2019
											$/bps	%		$/bps	%
NONACCRUAL LOANS AND LEASES1
Commercial and industrial	$280	$435	$366	$305	$240	($155)			(36%)	$40	17%
Commercial real estate	176	323	61	8	2	(147)			(46)	174			NM
Leases	2		2		79		1		3		-		-		(1)		(33)
Total commercial	458	760	506	314	245	(302)			(40)	213	87
Residential mortgages2	167	131	112	101	93	36			27	74	80
Home equity	276	265	254	242	246	11			4	30	12
Automobile	72	80	67	69	67	(8)			(10)	5	7
Education	18	16	18	21	18	2			13		-			-
Other retail	28		25		33		33		34		3			12		(6)		(18)
Total retail	561		517		484		466		458		44			9		103		22
Nonaccrual loans and leases	1,019		1,277		990		780		703		(258)			(20)		316		45
Repossessed assets	19		27		33		44		45		(8)			(30)		(26)		(58)
Nonaccrual loans and leases and repossessed assets	$1,038	$1,304	$1,023	$824	$748	($266)			(20%)	$290	39%
NONACCRUAL LOANS AND LEASES BY PRODUCT3
Commercial	$458	$760	$506	$314	$245	($302)			(40%)	$213	87%
Retail	580		544		517		510		503		36			7		77		15
Total nonaccrual loans and leases	$1,038	$1,304	$1,023	$824	$748	($266)			(20%)	$290	39%
ASSET QUALITY RATIOS
Allowance for loan and lease losses to loans and leases	1.98%	2.05%	1.95%	1.70%	1.05%		(7) bps		93	bps
Allowance for credit losses to loans and leases	2.17	2.21	2.01	1.73	1.09	(4)				108
Allowance for loan and lease losses to nonaccrual and leases	239.72	199.04	247.40	278.51	177.99		NM				NM
Allowance for credit losses to nonaccrual loans and leases	262.02	214.22	255.39	283.48	184.31		NM				NM
Nonaccrual loans and leases to loans and leases	0.83	1.03	0.79	0.61	0.59	(20)				24

1Beginning in the first quarter of 2020 and upon the adoption of ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, nonperforming loans and leases are now referred to as nonaccrual loans and leases and other nonperforming assets are referred to as repossessed assets.

2Beginning in the fourth quarter of 2019, nonaccrual balances exclude both fully and partially guaranteed residential mortgage loans sold to Ginnie Mae for which the Company has the right, but not the obligation, to repurchase. Prior periods have been adjusted to exclude partially guaranteed amounts to conform with the current period presentation.

3Nonaccrual loans and leases by product includes repossessed assets.

14

CREDIT-RELATED INFORMATION, CONTINUED (in millions, except ratio data)

					AS OF							DECEMBER 31, 2020 CHANGE
	Dec 31, 2020		Sept 30, 2020		June 30, 2020		Mar 31, 2020		Dec 31, 2019		Sept 30, 2020		December 31, 2019
											$/bps	%		$/bps	%
LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING
Commercial and industrial	$20	$3	$33		$-	$2	$17		NM	$18		NM
Commercial real estate	-		-		-		-		-		-		-		-		-
Leases	1		-		-		-		-		1	100		1	100
Total commercial	21	3	33		-	2	18		NM	19		NM
Residential mortgages	30	17	13	14	13	13	76	17	131
Home equity	-		-		-		-		-		-		-		-		-
Automobile	-		-		-		-		-		-		-		-		-
Education	2	2	2	2	2		-		-		-		-
Other retail	9		6		7		11		8		3	50		1	13
Total retail	41		25		22		27		23		16	64		18	78
Total loans and leases	$62	$28	$55	$27	$25	$34	121%	$37	148%

15

CREDIT-RELATED INFORMATION, CONTINUED (in millions)

								QUARTERLY TRENDS														FULL YEAR
																4Q20 Change										2020	Change
		4Q20		3Q20		2Q20		1Q20		4Q19			3Q20				4Q19			2020		2019		2019
													$			%	$				%						$	%
CHARGE-OFFS, RECOVERIES AND RELATED RATIOS
GROSS CHARGE-OFFS
Commercial and industrial	$51	$81	$68	$47	$24			($30)			(37%)			$27			113	$247	$87		$160	184%
Commercial real estate	70	42		-		-	9			28			67			61			NM	112	39		73	187
Leases		24		48		6		-		1			(24)			(50)			23			NM		78		14		64		NM
Total commercial	145	171	74	47	34			(26)			(15)			111			NM	437	140		297	212
Residential mortgages	2	2	2	1	2			-	-			-	-	7	8		(1)	(13)
Home equity	5	6	6	8	10			(1)			(17)			(5)			(50)	25	39		(14)	(36)
Automobile	22	22	31	39	38			-	-			(16)			(42)	114	143		(29)	(20)
Education	10	9	14	18	20			1			11			(10)			(50)	51	72		(21)	(29)
Other retail		48		47		53		61		58			1			2			(10)			(17)		209		213		(4)	(2)
Total retail		87		86		106		127		128			1			1			(41)			(32)		406		475		(69)	(15)
Total gross charge-offs	$232	$257	$180	$174	$162			($25)			(10%)			$70			43%	$843	$615		$228	37%
GROSS RECOVERIES
Commercial and industrial	$4	$1	$3	$3	$7			$3			NM			($3)			(43%)	$11	$24		($13)	(54%)
Commercial real estate	1		-		-		-		-	1			100			1			100	1		-	1	100
Leases		-		-		-		-		-			-		-			-		-		-		-		-		-
Total commercial	5	1	3	3	7			4			NM			(2)			(29)	12	24		(12)	(50)
Residential mortgages	2	2	1	1	1			-	-			1			100	6	9		(3)	(33)
Home equity	11	8	8	11	10			3			38			1			10	38	49		(11)	(22)
Automobile	13	15	11	12	11			(2)			(13)			2			18	51	57		(6)	(11)
Education	4	4	4	4	4			-	-			-	-	16	16		-		-
Other retail		7		8		6		6		7			(1)			(13)			-		-		27		30		(3)	(10)
Total retail		37		37		30		34		33			-		-			4			12		138		161		(23)	(14)
Total gross recoveries	$42	$38	$33	$37	$40			$4			11%			$2			5%	$150	$185		($35)	(19%)
NET CHARGE-OFFS (RECOVERIES)
Commercial and industrial	$47	$80	$65	$44	$17			($33)			(41%)			$30			176	$236	$63		$173		NM
Commercial real estate	69	42		-		-	9			27			64			60			NM	111	39		72	185
Leases		24		48		6		-		1			(24)			(50)			23			NM		78		14		64		NM
Total commercial	140	170	71	44	27			(30)			(18)			113			NM	425	116		309		NM
Residential mortgages		-		-	1		-	1			-	-			(1)			(100)	1	(1)		2		NM
Home equity	(6)	(2)	(2)	(3)		-	(4)			(200)			(6)			(100)	(13)	(10)		(3)	(30)
Automobile	9	7	20	27	27			2			29			(18)			(67)	63	86		(23)	(27)
Education	6	5	10	14	16			1			20			(10)			(63)	35	56		(21)	(38)
Other retail		41		39		47		55		51			2			5			(10)			(20)		182		183		(1)	(1)
Total retail		50		49		76		93		95			1			2			(45)			(47)		268		314		(46)	(15)
Total net charge-offs	$190	$219	$147	$137	$122			($29)			(13%)			$68			56%	$693	$430		$263	61%

16

CREDIT-RELATED INFORMATION, CONTINUED (in millions, except rates)

								QUARTERLY TRENDS													FULL YEAR
															4Q20 Change									2020 Change
		4Q20		3Q20		2Q20		1Q20		4Q19	3Q20				4Q19	2020		2019	2019
												$/bps		%		$/bps	%						$/bps	%
ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES
Commercial and industrial	0.41%	0.68%	0.52%	0.41%	0.16%		(27) bps			25	bps	0.51%		0.15%	36	bps
Commercial real estate	1.88	1.13		-		-	0.26		75	bps			162	bps	0.77		0.29	48	bps
Leases	4.44	7.99	1.03	0.07	0.19		(355) bps			425	bps	3.32		0.53	279	bps
Total commercial	0.91	1.06	0.42	0.30	0.19		(15) bps			72	bps	0.67		0.20	47	bps
Residential mortgages		-		-	0.02	0.01	0.02		-	bps				(2) bps	0.01		-	1	bps
Home equity	(0.19)	(0.10)	(0.05)	(0.10)	0.02		(9) bps				(21) bps	(0.11)		(0.07)		(4) bps
Automobile	0.29	0.24	0.68	0.88	0.85		5	bps				(56) bps	0.52		0.71		(19) bps
Education	0.18	0.21	0.34	0.55	0.65		(3) bps				(47) bps	0.31		0.59		(28) bps
Other retail	2.62	2.46	2.93	3.21	3.09		16	bps				(47) bps	2.82		3.09		(27) bps
Total retail	0.32	0.32	0.50	0.61	0.61		-	bps				(29) bps	0.44		0.52		(8) bps
Total loans and leases	0.61 %	0.70 %	0.46 %	0.46 %	0.41 %		(9) bps			20	bps	0.56 %		0.36 %	20	bps
Memo: Average loans
Commercial and industrial	$44,594	$46,844	$50,443	$43,152	$42,012		($2,250)		(5%)	$2,582	6%	$46,255		$41,702	$4,553	11%
Commercial real estate	14,745	14,644	14,540	13,876	13,103		101		1	1,642	13	14,452		13,160	1,292	10
Leases		2,176		2,373		2,426		2,482		2,546		(197)		(8)		(370)		(15)		2,365		2,694		(329)		(12)
Total commercial	61,515	63,861	67,409	59,510	57,661		(2,346)		(4)	3,854	7	63,072		57,556	5,516	10
Residential mortgages	19,543	19,427	18,872	18,866	19,495		116		1	48			-	19,178		19,308	(130)	(1)
Home equity	12,239	12,416	12,736	13,042	13,265		(177)		(1)	(1,026)	(8)	12,607		13,645	(1,038)	(8)
Automobile	12,066	12,019	11,998	12,173	12,099		47			-	(33)			-	12,064		12,047	17			-
Education	11,931	10,929	11,183	10,610	9,888		1,002		9	2,043	21	11,165		9,415	1,750	19
Other retail		6,167		6,260		6,557		6,854		6,497		(93)		(1)		(330)		(5)		6,458		5,929		529		9
Total retail		61,946		61,051		61,346		61,545		61,244		895		1		702		1		61,472		60,344		1,128		2
Total loans and leases	$123,461	$124,912	$128,755	$121,055	$118,905		($1,451)		(1%)	$4,556	4%	$124,544		$117,900	$6,644	6%

17

CREDIT-RELATED INFORMATION, CONTINUED (in millions)

							QUARTERLY TRENDS													FULL YEAR
															4Q20 Change							2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19			3Q20			4Q19			2020		2019		2019
												$			%	$			%						$			%
SUMMARY OF CHANGES IN THE COMPONENTS OF THE
ALLOWANCE FOR CREDIT LOSSES
Allowance for loan and lease losses - beginning	$2,542	$2,448	$2,171	$1,252	$1,263			$94			4%	$1,279			101%	$1,252	$1,242		$10			1%
Cumulative effect of change in accounting principle:
Commercial	-		-		-	(176)		-	-	-		-	-	(176)		-	(176)			(100)
Retail	-		-		-	629		-	-	-		-	-	629		-	629			100
Total cumulative effect of change in accounting
principle	-		-		-	453		-	-	-		-	-	453		-	453			100
Allowance for loan and lease losses - beginning,
adjusted	2,542	2,448	2,171	1,705	1,263			94			4	1,279			101	1,705	1,242		463			37
Charge-offs:
Commercial	145	171	74	47	34			(26)			(15)	111			NM	437	140		297			212
Retail	87		86		106		127		128			1			1		(41)			(32)		406		475		(69)			(15)
Total charge-offs	232	257	180	174	162			(25)			(10)	70			43	843	615		228			37
Recoveries:
Commercial	5	1	3	3	7			4			NM	(2)			(29)	12	24		(12)			(50)
Retail	37		37		30		34	33			-		-		4			12		138		161		(23)			(14)
Total recoveries	42		38		33		37		40			4			11		2			5		150		185		(35)			(19)
Net charge-offs	190	219	147	137	122			(29)			(13)	68			56	693	430		263			61
Provision for loan and lease losses:
Commercial	84	224	554	298	(11)			(140)			(63)	95			NM	1,160	100		1,060			NM
Retail	7		89		(130)		305		122			(82)			(92)		(115)			(94)		271		340		(69)			(20)
Total provision for loan and lease losses	91		313		424		603		111			(222)			(71)		(20)			(18)		1,431		440		991			225
Allowance for loan and lease losses - ending	$2,443	$2,542	$2,448	$2,171	$1,252			($99)			(4%)	$1,191			95%	$2,443	$1,252		$1,191			95%
Reserve for unfunded lending commitments - beginning	$194	$79	$39	$44	$45			$115			146%	$149			NM	$44	$91		($47)			(52%)
Cumulative effect of change in accounting principle	-		-		-	(2)		-	-	-		-	-	(2)		-	(2)			-
Provision for unfunded lending commitments	33		115		40		(3)		(1)			(82)			(71)		34			NM		185		(47)		232			NM
Reserve for unfunded lending commitments - ending	$227		$194		$79		$39		$44			$33			17%		$183			NM		$227		$44		$183			NM
Total allowance for credit losses - ending	$2,670	$2,736	$2,527	$2,210	$1,296			($66)			(2%)	$1,374			106%	$2,670	$1,296		$1,374			106%
Memo: Total allowance for credit losses by product
Commercial	$1,419	$1,441	$1,304	$790	$718			($22)			(2%)	$701			98%	$1,419	$718		$701			98%
Retail	1,251		1,295		1,223		1,420		578			(44)			(3)		673			116		1,251		578		673			116
Total allowance for credit losses	$2,670	$2,736	$2,527	$2,210	$1,296			($66)			(2%)	$1,374			106%	$2,670	$1,296		$1,374			106%

18

CAPITAL AND RATIOS

(in millions, except ratio data)

													AS OF													FULL YEAR
																DECEMBER 31, 2020 CHANGE								2020 Change
	Dec 31,			Sept 30,			June 30,			Mar 31,			Dec 31,
	2020			2020			2020			2020			2019			Sept 30, 2020		December 31, 2019		2020		2019			2019
														$	%	$		%							$			%
CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)
CET1 capital	$14,607		$14,345		$14,154		$14,007		$14,304	$262	2%	$303		2%
Tier 1 capital	16,572		16,310		16,119		15,577		15,874	262	2	698		4
Total capital	19,602		19,427		19,319		18,592		18,542	175	1	1,060		6
Risk-weighted assets	146,781		146,131		147,260		148,946		142,915	650		-	3,866		3
Adjusted average assets1	175,370		171,938		174,017		161,715		158,782	3,432	2	16,588		10
CET1 capital ratio	10.0	%	9.8	%	9.6	%	9.4	%	10.0	%
Tier 1 capital ratio	11.3		11.2		10.9		10.5		11.1
Total capital ratio	13.4		13.3		13.1		12.5		13.0
Tier 1 leverage ratio	9.4		9.5		9.3		9.6		10.0
TANGIBLE COMMON EQUITY (PERIOD-END)
Common stockholders' equity	$20,708		$20,504		$20,453		$20,380		$20,631	$204	1%	$77		-%	$20,708	$20,631			$77			-%
Less: Goodwill	7,050		7,050		7,050		7,050		7,044			-		-	6		-	7,050	7,044			6			-
Less: Other intangible assets	58		60		63		66		68	(2)	(3)	(10)		(15)	58	68			(10)			(15)
Add: Deferred tax liabilities2	379			377			376			375			374			2	1		5		1		379		374			5			1
Total tangible common equity	$13,979		$13,771		$13,716		$13,639		$13,893	$208	2%	$86		1%	$13,979	$13,893			$86			1%
TANGIBLE COMMON EQUITY (AVERAGE)
Common stockholders' equity	$20,547		$20,534		$20,446		$20,223		$20,400	$13		-%	$147		1%	$20,438	$20,325			$113			1%
Less: Goodwill	7,050		7,050		7,050		7,046		7,044			-		-	6		-	7,049	7,036			13			-
Less: Other intangible assets	60		62		65		67		69	(2)	(3)	(9)		(13)	64	71			(7)			(10)
Add: Deferred tax liabilities2	377			375			375			374			373			2	1		4		1		376		371			5			1
Total tangible common equity	$13,814		$13,797		$13,706		$13,484		$13,660	$17		-%	$154		1%	$13,701	$13,589			$112			1%
INTANGIBLE ASSETS (PERIOD-END)
Goodwill	$7,050		$7,050		$7,050		$7,050		$7,044			$-		-%	$6		-%	$7,050	$7,044			$6			-%
Other intangible assets	58			60			63			66			68			(2)	(3)		(10)		(15)		58		68			(10)			(15)
Total intangible assets	$7,108		$7,110		$7,113		$7,116		$7,112	($2)		-%	($4)		-%	$7,108	$7,112			($4)			-%

1Adjusted average assets include quarterly average assets, less deductions for disallowed goodwill and other intangible assets, net of deferred tax liabilities related to tax deductible goodwill, and the accumulated other comprehensive income impact related to the adoption of post-retirement benefit plan guidance under GAAP.

2Deferred tax liabilities relate to tax-deductible goodwill, which is netted against goodwill when calculating tangible common equity.

19

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (in millions, except share, per-share and ratio data)

Non-GAAP Financial Measures

This document contains non-GAAP financial measures denoted as Underlying results. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company's on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. The following tables present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

Other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

20

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data)

								QUARTERLY TRENDS										FULL YEAR
															4Q20 Change							2020 Change
		4Q20		3Q20		2Q20		1Q20		4Q19		3Q20			4Q19			2020		2019		2019
												$			%	$			%						$			%
Total revenue, Underlying:
Total revenue (GAAP)	A	$1,707	$1,791	$1,750	$1,657	$1,637		($84)			(5%)	$70			4%	$6,905	$6,491		$414			6%
Less: Notable items		-		-		-		-		-		-		-		-		-		-		-		-		-
Total revenue, Underlying (non-GAAP)	B	$1,707	$1,791	$1,750	$1,657	$1,637		($84)			(5%)	$70			4%	$6,905	$6,491		$414			6%
Noninterest expense, Underlying:
Noninterest expense (GAAP)	C	$1,012	$988	$979	$1,012	$986		$24			2%	$26			3%	$3,991	$3,847		$144			4%
Less: Notable items		42		31		19		33		37		11			35		5			14		125		68		57			84
Noninterest expense, Underlying (non-GAAP)	D	$970	$957	$960	$979	$949		$13			1%	$21			2%	$3,866	$3,779		$87			2%
Pre-provision profit:
Total revenue (GAAP)	A	$1,707	$1,791	$1,750	$1,657	$1,637		($84)			(5%)	$70			4%	$6,905	$6,491		$414			6%
Less: Noninterest expense (GAAP)	C	1,012		988		979		1,012		986		24			2		26			3		3,991		3,847		144			4
Pre-provision profit (GAAP)		$695	$803	$771	$645	$651		($108)			(13%)	$44			7%	$2,914	$2,644		$270			10%
Pre-provision profit, Underlying:
Total revenue, Underlying (non-GAAP)	B	$1,707	$1,791	$1,750	$1,657	$1,637		($84)			(5%)	$70			4%	$6,905	$6,491		$414			6%
Less: Noninterest expense, Underlying (non-GAAP)	D	970		957		960		979		949		13			1		21			2		3,866		3,779		87			2
Pre-provision profit, Underlying (non-GAAP)		$737	$834	$790	$678	$688		($97)			(12%)	$49			7%	$3,039	$2,712		$327			12%
Income before income tax expense, Underlying:
Income before income tax expense (GAAP)	E	$571	$375	$307	$45	$541		$196			52%	$30			6%	$1,298	$2,251		($953)			(42%)
Less: Expense before income tax benefit related to notable items		(42)		(31)		(19)		(33)		(37)		(11)			(35)		(5)			(14)		(125)		(68)		(57)			(84)
Income before income tax expense, Underlying (non-GAAP)	F	$613	$406	$326	$78	$578		$207			51%	$35			6%	$1,423	$2,319		($896)			(39%)
Income tax expense, Underlying:
Income tax expense (GAAP)	G	$115	$61	$54	$11	$91		$54			89%	$24			26%	$241	$460		($219)			(48%)
Less: Income tax benefit related to notable items		(18)		(7)		(9)		(8)		(33)		(11)			(157)		15			45		(42)		(51)		9			18
Income tax expense, Underlying (non-GAAP)	H	$133	$68	$63	$19	$124		$65			96%	$9			7%	$283	$511		($228)			(45%)
Net income, Underlying:
Net income (GAAP)	I	$456	$314	$253	$34	$450		$142			45%	$6			1%	$1,057	$1,791		($734)			(41%)
Add: Notable items, net of income tax benefit		24		24		10		25		4		-		-		20			NM		83		17		66			NM
Net income, Underlying (non-GAAP)	J	$480	$338	$263	$59	$454		$142			42%	$26			6%	$1,140	$1,808		($668)			(37%)
Net income available to common stockholders, Underlying:
Net income available to common stockholders (GAAP)	K	$424	$289	$225	$12	$427		$135			47%	($3)			(1%)	$950	$1,718		($768)			(45%)
Add: Notable items, net of income tax benefit		24		24		10		25		4		-		-		20			NM		83		17		66			NM
Net income available to common stockholders, Underlying (non-GAAP)	L	$448	$313	$235	$37	$431		$135			43%	$17			4%	$1,033	$1,735		($702)			(40%)

21

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data)

								QUARTERLY TRENDS													FULL YEAR
																4Q20 Change									2020 Change
		4Q20		3Q20		2Q20		1Q20		4Q19		3Q20			4Q19	2020	2019		2019
												$/bps				%		$/bps	%						$/bps	%
Operating leverage:
Total revenue (GAAP)	A	$1,707	$1,791	$1,750	$1,657	$1,637		($84)				(4.65%)	$70	4.35%	$6,905	$6,491		$414			6.38%
Less: Noninterest expense (GAAP)	C	1,012	988	979	1,012	986		24				2.43	26		2.61	3,991	3,847		144			3.73
Operating leverage																(7.08%)			1.74%									2.65%
Operating leverage, Underlying:
Total revenue, Underlying (non-GAAP)	B	$1,707	$1,791	$1,750	$1,657	$1,637		($84)				(4.65%)	$70	4.35%	$6,905	$6,491		$414			6.39%
Less: Noninterest expense, Underlying (non-GAAP)	D	970	957	960	979	949		13				1.39	21		2.21	3,866	3,779		87			2.30
Operating leverage, Underlying (non-GAAP)																(6.04%)			2.14%									4.09%
Efficiency ratio and efficiency ratio, Underlying:
Efficiency ratio	C/A	59.28 %	55.18%	55.91%	61.10%	60.28%		410	bps			(100) bps	57.80 %	59.28 %		(148) bps
Efficiency ratio, Underlying (non-GAAP)	D/B	56.83	53.44	54.85	59.08	58.02		339	bps			(119) bps	55.99	58.23		(224) bps
Effective income tax rate and effective income tax rate,
Underlying:
Effective income tax rate	G/E	20.16%	16.10%	17.69%	24.13%	16.76%		406	bps		340	bps	18.54 %	20.43 %		(189) bps
Effective income tax rate, Underlying (non-GAAP)	H/F	21.70	16.79	19.36	24.52	21.52		491	bps		18	bps	19.92	22.03		(211) bps
Return on average common equity and return on average
common equity, Underlying:
Average common equity (GAAP)	M	$20,547	$20,534	$20,446	$20,223	$20,400		$13				-%	$147	1%	$20,438	$20,325		$113			1%
Return on average common equity	K/M	8.20 %	5.60%	4.44%	0.24%	8.30%		260	bps			(10) bps	4.65 %	8.45 %		(380) bps
Return on average common equity, Underlying (non-GAAP)	L/M	8.66	6.05	4.63	0.74	8.36		261	bps		30	bps	5.05	8.53		(348) bps
Return on average tangible common equity and return on
average tangible common equity, Underlying:
Average common equity (GAAP)	M	$20,547	$20,534	$20,446	$20,223	$20,400		$13				-%	$147	1%	$20,438	$20,325		$113			1%
Less: Average goodwill (GAAP)		7,050	7,050	7,050	7,046	7,044		-				-	6			-	7,049	7,036		13			-
Less: Average other intangibles (GAAP)		60	62	65	67	69		(2)				(3)	(9)	(13)	64	71		(7)			(10)
Add: Average deferred tax liabilities related to goodwill (GAAP)		377		375		375		374		373		2				1		4		1		376		371		5			1
Average tangible common equity	N	$13,814	$13,797	$13,706	$13,484	$13,660		$17				-%	$154	1%	$13,701	$13,589		$112			1%
Return on average tangible common equity	K/N	12.20 %	8.33%	6.62%	0.36%	12.39%		387	bps			(19) bps	6.93 %	12.64 %		(571) bps
Return on average tangible common equity, Underlying (non-
GAAP)	L/N	12.89	9.00	6.90	1.10	12.49		389	bps		40	bps	7.53	12.76		(523) bps
Return on average total assets and return on average total
assets, Underlying:
Average total assets (GAAP)	O	$181,061	$177,675	$179,793	$167,177	$164,646		$3,386				2%	$16,415	10%	$176,442	$162,176		$14,266			9%
Return on average total assets	I/O	1.00 %	0.70%	0.57%	0.08%	1.08%		30	bps			(8) bps	0.60 %	1.10 %		(50) bps
Return on average total assets, Underlying (non-GAAP)	J/O	1.05	0.76	0.59	0.14	1.09		29	bps			(4) bps	0.65	1.11		(46) bps

22

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data)

								QUARTERLY TRENDS												FULL YEAR
															4Q20 Change								2020 Change
		4Q20		3Q20		2Q20		1Q20		4Q19	3Q20				4Q19			2020	2019		2019
												$/bps		%		$/bps	%						$/bps	%
Return on average total tangible
assets and return on average total
tangible assets, Underlying:
Average total assets (GAAP)	P	$181,061	$177,675	$179,793	$167,177	$164,646		$3,386		2%	$16,415	10%	$176,442	$162,176		$14,266			9%
Less: Average goodwill (GAAP)		7,050	7,050	7,050	7,046	7,044		-			-	6		-	7,049	7,036		13			-
Less: Average other intangibles
(GAAP)		60	62	65	67	69		(2)		(3)	(9)	(13)	64	71		(7)			(10)
Add: Average deferred tax liabilities
related to goodwill (GAAP)		377		375		375		374		373		2		1		4	1		376		371		5			1
Average tangible assets	Q	$174,328	$170,938	$173,053	$160,438	$157,906		$3,390		2%	$16,422	10%	$169,705	$155,440		$14,265			9%
Return on average total tangible
assets	I/Q	1.04 %	0.73%	0.59%	0.09%	1.13%		31	bps				(9) bps			0.62 %	1.15 %		(53) bps
Return on average total tangible
assets, Underlying (non-GAAP)	J/Q	1.10	0.79	0.61	0.15	1.14		31	bps				(4) bps			0.67	1.16		(49) bps
Tangible book value per common shar	e:
Common shares - at period-end
(GAAP)	R	427,209,831	427,073,084	426,824,594	426,586,533	433,121,083		136,747			-%	(5,911,252)	(1%)	427,209,831	433,121,083		(5,911,252)			(1%)
Common stockholders' equity (GAAP)		$20,708	$20,504	$20,453	$20,380	$20,631		$204		1	$77		-	$20,708	$20,631		$77			-
Less: Goodwill (GAAP)		7,050	7,050	7,050	7,050	7,044		-			-	6		-	7,050	7,044		6			-
Less: Other intangible assets (GAAP)		58	60	63	66	68		(2)		(3)	(10)	(15)	58	68		(10)			(15)
Add: Deferred tax liabilities related to
goodwill (GAAP)		379		377		376		375		374		2		1		5	1		379		374		5			1
Tangible common equity	S	$13,979	$13,771	$13,716	$13,639	$13,893		$208		2%	$86	1%	$13,979	$13,893		$86			1%
Tangible book value per common
share	S/R	$32.72	$32.24	$32.13	$31.97	$32.08		$0.48		1%	$0.64	2%	$32.72	$32.08		$0.64			2%
Net income per average common
share - basic and diluted and net
income per average common share -
basic and diluted, Underlying:
Average common shares outstanding -
basic (GAAP)	T	427,074,822	426,846,096	426,613,053	427,718,421	434,684,606		228,726			-%	(7,609,784)	(2%)	427,062,537	449,731,453		(22,668,916)			(5%)
Average common shares outstanding -
diluted (GAAP)	U	428,881,252	427,992,349	427,566,920	429,388,855	436,500,829		888,903			-	(7,619,577)	(2)	428,157,780	451,213,701		(23,055,921)			(5)
Net income per average common
share - basic (GAAP)	K/T	$0.99	$0.68	$0.53	$0.03	$0.98		$0.31		46	$0.01	1	$2.22	$3.82		($1.60)			(42)
Net income per average common
share - diluted (GAAP)	K/U	0.99	0.68	0.53	0.03	0.98		0.31		46	0.01	1	2.22	3.81		(1.59)			(42)
Net income per average common
share - basic, Underlying (non-GAAP)	L/T	1.05	0.73	0.55	0.09	0.99		0.32		44	0.06	6	2.42	3.86		(1.44)			(37)
Net income per average common
share - diluted, Underlying (non-
GAAP)	L/U	1.04	0.73	0.55	0.09	0.99		0.31		42	0.05	5	2.41	3.84		(1.43)			(37)
Dividend payout ratio and dividend
payout ratio, Underlying:
Cash dividends declared and paid per
common share	V	$0.39	$0.39	$0.39	$0.39	$0.36		$-			-%	$0.03	8%	$1.56	$1.36		$0.20			15%
Dividend payout ratio	V/(K/T)	39 %	58 %	74 %	1,398 %	37 %		(1,829) bps				265 bps			70 %	36 %		3,453 bps
Dividend payout ratio, Underlying
(non-GAAP)	V/(L/T)	37	53	71	451	36		(1,608) bps				82 bps			65	35		2,930 bps

23

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data)

							QUARTERLY TRENDS														FULL YEAR
															4Q20 Change											2020 Change
	4Q20		3Q20		2Q20		1Q20		4Q19			3Q20				4Q19			2020		2019			2019
								$				%	$				%							$/bps	%
Salaries and employee benefits, Underlying:
Salaries and employee benefits (GAAP)	$537	$524	$513	$549	$502			$13			2%			$35			7%	$2,123	$2,026			$97			5%
Less: Notable items	18		13		4		10		6			5			38			12			200		45		14			31			221
Salaries and employee benefits, Underlying (non-GAAP)	$519	$511	$509	$539	$496			$8			2%			$23			5%	$2,078	$2,012			$66			3%
Equipment and software expense, Underlying:
Equipment and software expense (GAAP)	$141	$149	$142	$133	$133			($8)			(5%)			$8			6%	$565	$514			$51			10%
Less: Notable items	1		1		-		1		3			-		-			(2)			(67)		3		3			-		-
Equipment and software expense, Underlying (non-GAAP)	$140	$148	$142	$132	$130			($8)			(5%)			$10			8%	$562	$511			$51			10%
Outside services, Underlying:
Outside services (GAAP)	$148	$139	$131	$135	$142			$9			6%			$6			4%	$553	$498			$55			11%
Less: Notable items	17		16		12		18		20			1			6			(3)			(15)		63		43			20			47
Outside services, Underlying (non-GAAP)	$131	$123	$119	$117	$122			$8			7%			$9			7%	$490	$455			$35			8%
Occupancy, Underlying:
Occupancy (GAAP)	$84	$81	$82	$84	$88			$3			4%			($4)			(5%)	$331	$333			($2)			(1%)
Less: Notable items	6		1		3		4		8			5			NM			(2)			(25)		14		8			6			75
Occupancy, Underlying (non-GAAP)	$78	$80	$79	$80	$80			($2)			(3%)			($2)			(3%)	$317	$325			($8)			(2%)

24

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS - SEGMENTS (in millions, except ratio data)

				FOURTH QUARTER 2020					THIRD QUARTER 2020					SECOND QUARTER 2020
		Consumer		Commercial							Consumer		Commercial						Consumer		Commercial
		Banking		Banking		Other	Consolidated		Banking		Banking		Other	Consolidated		Banking		Banking		Other	Consolidated
Net income (loss) available to common
stockholders:
Net income (loss)	A	$322	$221	($87)			$456	$407	$153	($246)		$314	$320	$221	($288)			$253
Less: Preferred stock dividends		-		-		32			32		-		-		25		25		-		-		28			28
Net income (loss) available to common stockholders	B	$322	$221	($119)			$424	$407	$153	($271)		$289	$320	$221	($316)			$225
Return on average total tangible assets:
Average total assets (GAAP)		$74,392	$58,212	$48,457			$181,061	$73,605	$60,889	$43,181		$177,675	$71,634	$65,280	$42,879			$179,793
Less: Average goodwill (GAAP)		122	52	6,876			7,050	122	52	6,876		7,050	122	52	6,876			7,050
Average other intangibles (GAAP)		39	5	16			60	40	5	17		62	41	6	18			65
Add: Average deferred tax liabilities related to
goodwill (GAAP)		3		1		373			377		2		1		372		375		2		1		372			375
Average tangible assets	C	$74,234	$58,156	$41,938			$174,328	$73,445	$60,833	$36,660		$170,938	$71,473	$65,223	$36,357			$173,053
Return on average total tangible assets	A/C	1.72 %	1.51 %		NM	1.04 %	2.21 %	1.01 %		NM	0.73 %	1.80 %	1.36 %		NM	0.59 %
Efficiency ratio:
Noninterest expense (GAAP)	D	$749	$216	$47			$1,012	$742	$210	$36		$988	$735	$213	$31			$979
Net interest income (GAAP)		859	438	(168)			1,129	845	421	(129)		1,137	814	419	(73)			1,160
Noninterest income (GAAP)		375		182		21			578		495		144		15		654		428		144		18			590
Total revenue (GAAP)	E	$1,234	$620	($147)			$1,707	$1,340	$565	($114)		$1,791	$1,242	$563	($55)			$1,750
Efficiency ratio	D/E	60.75 %	34.94 %		NM	59.28 %	55.35 %	37.03 %		NM	55.18 %	59.19 %	37.93 %		NM	55.91 %

				FIRST QUARTER 2020					FOURTH QUARTER 2019
		Consumer		Commercial						Consumer		Commercial
		Banking		Banking		Other	Consolidated		Banking		Banking		Other	Consolidated
Net income (loss) available to common stockholders:
Net income (loss)	A	$236	$179	($381)		$34	$209	$231	$10			$450
Less: Preferred stock dividends		-		-		22		22		-		-		23			23
Net income (loss) available to common stockholders	B	$236	$179	($403)		$12	$209	$231	($13)			$427
Return on average total tangible assets:
Average total assets (GAAP)		$68,415	$59,005	$39,757		$167,177	$68,069	$56,407	$40,170			$164,646
Less: Average goodwill (GAAP)		122	48	6,876		7,046	122	46	6,876			7,044
Average other intangibles (GAAP)		43	6	18		67	63	6		-	69
Add: Average deferred tax liabilities related to goodwill (GAAP)		1		1		372		374		1		1		371			373
Average tangible assets	C	$68,251	$58,952	$33,235		$160,438	$67,885	$56,356	$33,665			$157,906
Return on average total tangible assets	A/C	1.39 %	1.22 %		NM	0.09 %	1.22 %	1.63 %		NM	1.13 %
Efficiency ratio:
Noninterest expense (GAAP)	D	$738	$221	$53		$1,012	$718	$219	$49			$986
Net interest income (GAAP)		793	365	2		1,160	796	363	(16)			1,143
Noninterest income (GAAP)		357		125		15		497		296		175		23			494
Total revenue (GAAP)	E	$1,150	$490	$17		$1,657	$1,092	$538	$7			$1,637
Efficiency ratio	D/E	64.16 %	45.06 %		NM	61.10 %	65.74 %	40.60 %		NM	60.28 %

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NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS - SEGMENTS (CONTINUED) (in millions, except ratio data)

FULL YEAR

			2020						2019
		Consumer		Commercial					Consumer		Commercial
		Banking		Banking	Other		Consolidated		Banking		Banking	Other		Consolidated
Net income (loss) available to common stockholders:
Net income (loss)	A	$1,285	$774			($1,002)	$1,057	$875	$870			$46	$1,791
Less: Preferred stock dividends		-		-			107		107		-		-			73		73
Net income (loss) available to common stockholders	B	$1,285	$774			($1,109)	$950	$875	$870			($27)	$1,718
Return on average total tangible assets:
Average total assets (GAAP)		$72,022	$60,839			$43,581	$176,442	$66,240	$55,947			$39,989	$162,176
Less: Average goodwill (GAAP)		122	51			6,876	7,049	120	40			6,876	7,036
Average other intangibles (GAAP)		41	6			17	64	65	6			-	71
Add: Average deferred tax liabilities related to goodwill (GAAP)		2		1			373		376		-		-			371		371
Average tangible assets	C	$71,861	$60,783			$37,061	$169,705	$66,055	$55,901			$33,484	$155,440
Return on average total tangible assets	A/C	1.79 %	1.27 %			NM	0.62 %	1.32 %	1.56 %			NM	1.15 %
Efficiency ratio:
Noninterest expense (GAAP)	D	$2,964	$860			$167	$3,991	$2,851	$858			$138	$3,847
Net interest income (GAAP)		3,311	1,643			(368)	4,586	3,182	1,466			(34)	4,614
Noninterest income (GAAP)		1,655		595			69		2,319		1,156		607			114		1,877
Total revenue (GAAP)	E	$4,966	$2,238			($299)	$6,905	$4,338	$2,073			$80	$6,491
Efficiency ratio	D/E	59.69 %	38.43 %			NM	57.80 %	65.72 %	41.38 %			NM	59.28 %

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