Citizens Financial : 4Q19 FINANCIAL SUPPLEMENT

Financial Supplement

Fourth Quarter and Full Year 2019

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:
Nonperforming Assets	17
Charge-offs, Recoveries and Related Ratios	18
Summary of Changes in the Components of the Allowance for Credit Losses	20
Capital and Ratios	21
Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations	22

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
																	4Q19 Change								2019 Change
				4Q19		3Q19		2Q19		1Q19		4Q18	3Q19				4Q18			2019	2018		2018
															$/bps	%		$/bps	%						$/bps	%
	SELECTED OPERATING DATA
	Total revenue	$1,637	$1,638	$1,628	$1,588	$1,593			($1)		-%	$44	3%	$6,491	$6,128		$363			6%
	Noninterest expense	986	973	951	937	951			13	1	35	4	3,847	3,619		228			6
	Profit before provision for credit
	losses	651	665	677	651	642			(14)	(2)	9	1	2,644	2,509		135			5
	Provision for credit losses	110	101	97	85	85			9	9	25	29	393	326		67			21
	NET INCOME	450	449	453	439	465			1		-	(15)	(3)	1,791	1,721		70			4
	Net income, Underlying1	454	453	458	443	474			1		-	(20)	(4)	1,808	1,737		71			4
	Net income available to common
	stockholders	427	432	435	424	450			(5)	(1)	(23)	(5)	1,718	1,692		26			2
	Net income available to common	431	436	440	428	459			(5)	(1)	(28)	(6)	1,735	1,708		27			2
	stockholders, Underlying	1
	PER COMMON SHARE DATA
	Basic earnings	$0.98	$0.97	$0.95	$0.92	$0.96			$0.01	1%	$0.02	2%	$3.82	$3.54		$0.28			8%
	Diluted earnings	0.98	0.97	0.95	0.92	0.96			0.01	1	0.02	2	3.81	3.52		0.29			8
	Basic earnings, Underlying1	0.99	0.98	0.96	0.93	0.98			0.01	1	0.01	1	3.86	3.57		0.29			8
	Diluted earnings, Underlying1	0.99	0.98	0.96	0.93	0.98			0.01	1	0.01	1	3.84	3.56		0.28			8
	Cash dividends declared and paid per
	common share	0.36	0.36	0.32	0.32	0.27			-		-	0.09	33	1.36	0.98		0.38			39
	Book value per common share	47.63	46.67	45.61	44.24	42.87			0.96	2	4.76	11	47.63	42.87		4.76			11
	Tangible book value per common													0.60
	share	32.08	31.48	30.88	29.60	28.73			2	3.35	12	32.08	28.73		3.35			12
	Dividend payout ratio	37%	37%	34%	35%	28%			- bps				900 bps			36%	28%		800 bps
	Dividend payout ratio, Underlying1	36	37	33	34	27			(100) bps				900 bps			35	27		800 bps
	COMMON SHARES OUTSTANDING
	Average: Basic	434,684,606	445,703,987	458,154,335	460,713,172	467,338,825			(11,019,381)	(2%)	(32,654,219)	(7%)	449,731,453	478,822,072		(29,090,619)			(6%)
	Diluted	436,500,829	447,134,595	459,304,224	462,520,680	469,103,134			(10,633,766)	(2)	(32,602,305)	(7)	451,213,701	480,430,741		(29,217,040)			(6)
	Common shares at period-end	433,121,083	443,913,525	457,903,826	461,116,723	466,007,984			(10,792,442)	(2)	(32,886,901)	(7)	433,121,083	466,007,984		(32,886,901)			(7)
	SHARE PRICE
	High	$40.92	$38.06	$36.89	$37.73	$39.69			$2.86	8%	$1.23	3%	$40.92	$48.23		($7.31)			(15%)
	Low	32.47	31.34	32.36	29.26	27.62			1.13	4	4.85	18	29.26	27.62		1.64			6
	Close	40.61	35.37	35.36	32.50	29.73			5.24	15	10.88	37	40.61	29.73		10.88			37
	Market capitalization	17,589	15,701	16,191	14,986	13,854			1,888	12	3,735	27	17,589	13,854		3,735			27
	SEGMENT NET INCOME
	Consumer Banking	$209	$251	$213	$202	$193			($42)	(17%)	$16	8%	$875	$767		$108			14%
	Commercial Banking	231	196	216	227	241			35	18	(10)	(4)	870	927		(57)			(6)
	Other	10	2	24	10	31			8		NM	(21)	(68)	46	27		19			70
	NET INCOME	$450	$449	$453	$439	$465			$1		-%	($15)	(3%)	$1,791	$1,721		$70			4%

1 These are non-GAAP financial measures. For further information on these measures, refer to "Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations" at the end of this document.

3

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

							QUARTERLY TRENDS											FULL YEAR
													4Q19 Change								2019 Change
	4Q19		3Q19	2Q19		1Q19		4Q18	3Q19			4Q18		2019	2018			2018
											$/bps	%		$/bps	%							$/bps	%
FINANCIAL RATIOS
Net interest margin1	3.04%	3.10%		3.20%	3.23%	3.23%		(6) bps			(19) bps		3.14%	3.21%			(7) bps
Net interest margin, FTE2	3.06	3.12		3.21	3.25	3.25		(6) bps			(19) bps		3.16	3.22			(6) bps
Return on average common equity	8.30	8.35		8.54	8.62	9.16		(5) bps			(86) bps		8.45	8.62			(17) bps
Return on average common equity, Underlying3	8.36	8.45		8.63	8.71	9.33		(9) bps			(97) bps		8.53	8.69			(16) bps
Return on average tangible common equity	12.39	12.44		12.75	13.00	13.85		(5) bps			(146) bps		12.64	12.94			(30) bps
Return on average tangible common equity,
Underlying3	12.49	12.58		12.89	13.12	14.11		(9) bps			(162) bps		12.76	13.06			(30) bps
Return on average total assets	1.08	1.10		1.13	1.11	1.17		(2) bps			(9) bps		1.10	1.11			(1) bps
Return on average total assets, Underlying3	1.09	1.11		1.14	1.12	1.19		(2) bps			(10) bps		1.11	1.12			(1) bps
Return on average total tangible assets	1.13	1.15		1.17	1.16	1.22		(2) bps			(9) bps		1.15	1.16			(1) bps
Return on average total tangible assets, Underlying3	1.14	1.16		1.19	1.17	1.24		(2) bps			(10) bps		1.16	1.17			(1) bps
Effective income tax rate	16.76	20.46		21.86	22.42	16.45		(370) bps			31 bps		20.43	21.16			(73) bps
Effective income tax rate, Underlying3	21.52	22.29		21.89	22.44	21.91		(77) bps			(39) bps		22.03	22.55			(52) bps
Efficiency ratio	60.28	59.40		58.41	59.00	59.69		88 bps			59 bps		59.28	59.06			22 bps
Efficiency ratio, Underlying3	58.02	58.22		58.02	58.67	56.70		(20) bps			132 bps		58.23	58.13			10 bps
Noninterest income as a % of total revenue	30%	30%		28%	27%	26%		- bps			400 bps		29%	26%			300 bps
Noninterest income as a % of total revenue,
Underlying3	30%	30%		28%	27%	27%		- bps			300 bps		29%	26%			300 bps
CAPITAL RATIOS - PERIOD-END (PRELIMINARY)
CET1 capital ratio	10.0%	10.3%		10.5%	10.5%	10.6%
Tier 1 capital ratio	11.1	11.1		11.3	11.3	11.3
Total capital ratio	13.0	13.0		13.4	13.4	13.3
Tier 1 leverage ratio	10.0	9.9		10.1	10.0	10.0
SELECTED BALANCE SHEET DATA (PERIOD-END)
Total assets	$165,733	$164,362		$162,749	$161,342	$160,518		$1,371		1%	$5,215		3%	$165,733	$160,518			$5,215			3%
Loans and leases:
Commercial	57,538	56,733		56,963	57,689	56,783		805		1	755		1	57,538	56,783			755			1
Retail	61,550	61,147		59,875	59,926	59,877		403		1	1,673		3	61,550	59,877			1,673			3
Total loans and leases	119,088		117,880		116,838		117,615		116,660		1,208		1		2,428		2		119,088		116,660			2,428			2
Deposits	125,313	124,714		124,004	123,916	119,575		599		-	5,738		5	125,313	119,575			5,738			5
Long-term borrowed funds4	14,047	12,806		11,538	11,725	15,925		1,241		10	(1,878)		(12)	14,047	15,925			(1,878)			(12)
Total stockholders' equity	22,201	21,851		22,017	21,531	20,817		350		2	1,384		7	22,201	20,817			1,384			7
Loans-to-deposits ratio (period-end balances)	95.03%	94.52%		94.22%	94.92%	97.56%		51 bps			(253) bps		95.03%	97.56%			(253) bps
Loans-to-deposits ratio (average balances)	94.63	94.62		95.64	97.70	98.41		1 bps			(378) bps		95.62	97.94			(232) bps
Full-time equivalent colleagues	17,997	18,116		18,207	18,078	18,140		(119)		(1)	(143)		(1)	17,997	18,140			(143)			(1)

1. Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation.
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.
3. These are non-GAAP financial measures. For further information on these measures, refer to "Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations" at the end of this document.
4. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation.

4

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions)

									QUARTERLY TRENDS														FULL YEAR
																	4Q19 Change											2019 Change
			4Q19		3Q19		2Q19		1Q19		4Q18			3Q19				4Q18			2019		2018			2018
										$				%	$				%							$			%
	INTEREST INCOME
	Interest and fees on loans and leases	$1,312	$1,356	$1,392	$1,381	$1,347			($44)			(3%)			($35)			(3%)	$5,441	$5,010			$431			9%
	Interest and fees on loans held for sale	18	19	15	11	14			(1)			(5)			4			29	63	37			26			70
	Interest and fees on other loans held for sale	5	2	2	4	1			3			150			4			NM	13	10			3			30
	Investment securities	159	153	164	166	172			6			4			(13)			(8)	642	672			(30)			(4)
	Interest-bearing deposits in banks	7		8		7		8		8			(1)			(13)			(1)			(13)		30		29			1			3
	Total interest income	1,501	1,538	1,580	1,570	1,542			(37)			(2)			(41)			(3)	6,189	5,758			431			7
	INTEREST EXPENSE
	Deposits	263	297	308	287	245			(34)			(11)			18			7	1,155	785			370			47
	Federal funds purchased and securities sold under agreements to repurchase	1	2	3	2	2			(1)			(50)			(1)			(50)	8	6			2			33
	Other short-term borrowed funds1	1		-	1		-	2			1			100			(1)			(50)	2	9			(7)			(78)
	Long-term borrowed funds1	93		94		102		121		121			(1)			(1)			(28)			(23)		410		426			(16)			(4)
	Total interest expense	358	393	414	410	370			(35)			(9)			(12)			(3)	1,575	1,226			349			28
	Net interest income	1,143		1,145		1,166		1,160		1,172			(2)			-			(29)			(2)		4,614		4,532			82			2
	NONINTEREST INCOME
	Service charges and fees	128	128	126	123	131			-	-			(3)			(2)	505	513			(8)			(2)
	Mortgage banking fees	80	117	62	43	51			(37)			(32)			29			57	302	152			150			99
	Card fees	64	67	64	59	62			(3)			(4)			2			3	254	244			10			4
	Capital markets fees	66	39	57	54	45			27			69			21			47	216	179			37			21
	Trust and investment services fees	52	50	53	47	43			2			4			9			21	202	171			31			18
	Foreign exchange and interest rate products	49	35	35	36	34			14			40			15			44	155	126			29			23
	Letter of credit and loan fees	35	34	33	33	34			1			3			1			3	135	128			7			5
	Securities gains, net	4	3	4	8	6			1			33			(2)			(33)	19	19			-	-
	Other income	16		20		28		25		15			(4)			(20)			1			7		89		64			25			39
	Total noninterest income	494	493	462	428	421			1			-			73			17	1,877	1,596			281			18
	TOTAL REVENUE	1,637		1,638		1,628		1,588		1,593			(1)			-			44			3		6,491		6,128			363			6
	Provision for credit losses	110	101	97	85	85			9			9			25			29	393	326			67			21
	NONINTEREST EXPENSE
	Salaries and employee benefits	502	508	507	509	483			(6)			(1)			19			4	2,026	1,880			146			8
	Equipment and software expense2	133	130	126	125	124			3			2			9			7	514	464			50			11
	Outside services	142	128	118	110	135			14			11			7			5	498	447			51			11
	Occupancy	88	80	82	83	92			8			10			(4)			(4)	333	333			-	-
	Other operating expense	121		127		118		110		117			(6)			(5)			4			3		476		495			(19)			(4)
	Total noninterest expense	986	973	951	937	951			13			1			35			4	3,847	3,619			228			6
	Income before income tax expense	541	564	580	566	557			(23)			(4)			(16)			(3)	2,251	2,183			68			3
	Income tax expense	91		115		127		127		92			(24)			(21)			(1)			(1)		460		462			(2)			-
	Net income	$450		$449		$453		$439		$465			$1			-%			($15)			(3%)		$1,791		$1,721			$70			4%
	Net income, Underlying3											-%						(4%)								4%
$454		$453		$458		$443		$474			$1					($20)				$1,808		$1,737			$71
	Net income available to common stockholders	$427		$432		$435		$424		$450			($5)			(1%)			($23)			(5%)		$1,718		$1,692			$26			2%
	Net income available to common stockholders, Underlying3											(1%)						(6%)								2%
$431		$436		$440		$428		$459			($5)					($28)				$1,735		$1,708			$27

1. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation.
2. Beginning in the first quarter of 2019, we combined our presentation of equipment expense and amortization of software into equipment and software expense. Prior periods have been adjusted to conform with the current period presentation.
3. These are non-GAAP financial measures. For further information on these measures, refer to "Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations" at the end of this document.

5

CONSOLIDATED BALANCE SHEETS (unaudited) (in millions)

PERIOD-END BALANCES

AS OF

DECEMBER 31, 2019 CHANGE

Dec 31, 2019

Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018

September 30, 2019

December 31, 2018

$

%

$

%

ASSETS
	Cash and due from banks	$1,175	$1,638	$996	$923	$1,081		($463)	(28%)	$94	9%
	Interest-bearing cash and due from banks	2,211	2,204	2,039	1,513	2,993		7		-	(782)	(26)
	Interest-bearing deposits in banks	297	158	186	167	148		139	88	149	101
	Debt securities available for sale, at fair value	20,613	21,502	21,698	21,504	19,895		(889)	(4)	718	4
	Debt securities held to maturity	3,202	3,319	3,447	3,345	4,165		(117)	(4)	(963)	(23)
	Equity securities, at fair value	47	47	47	198	181		-		-	(134)	(74)
	Equity securities, at cost	807	734	706	604	834		73	10	(27)	(3)
	Loans held for sale, at fair value	1,946	1,993	1,750	1,186	1,219		(47)	(2)	727	60
	Other loans held for sale	1,384	22	455	66	101		1,362		NM	1,283		NM
	Loans and leases	119,088	117,880	116,838	117,615	116,660		1,208	1	2,428	2
	Less: Allowance for loan and lease losses	(1,252)		(1,263)		(1,227)		(1,245)		(1,242)		11	1		(10)	(1)
	Net loans and leases	117,836	116,617	115,611	116,370	115,418		1,219	1	2,418	2
	Derivative assets	807	1,027	833	465	317		(220)	(21)	490	155
	Premises and equipment	761	747	740	746	791		14	2	(30)	(4)
	Bank-owned life insurance	1,725	1,720	1,711	1,705	1,698		5		-	27	2
	Goodwill	7,044	7,044	7,040	7,040	6,923		-		-	121	2
	Due from broker	-	257	249	92		-	(257)	(100)		-		-
	Other assets	5,878		5,333		5,241		5,418		4,754		545	10		1,124	24
	TOTAL ASSETS	$165,733	$164,362	$162,749	$161,342	$160,518		$1,371	1%	$5,215	3%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
	Deposits:
	Noninterest-bearing	$29,233	$29,939	$28,192	$28,383	$29,458		($706)	(2%)	($225)	(1%)
	Interest-bearing	96,080		94,775		95,812		95,533		90,117		1,305	1		5,963	7
	Total deposits	125,313	124,714	124,004	123,916	119,575		599		-	5,738	5
	Federal funds purchased and securities sold under agreements to repurchase1	265	867	1,132	668	1,156		(602)	(69)	(891)	(77)
	Other short-term borrowed funds2	9	210	309	11	161		(201)	(96)	(152)	(94)
	Derivative liabilities	120	161	106	173	292		(41)	(25)	(172)	(59)
	Deferred taxes, net	866	752	767	676	573		114	15	293	51
	Long-term borrowed funds	2	14,047	12,806	11,538	11,725	15,925		1,241	10	(1,878)	(12)
	Due to broker	-	206	257	93		-	(206)	(100)		-		-
	Other liabilities	2,912		2,795		2,619		2,549		2,019		117	4		893	44
	TOTAL LIABILITIES	143,532	142,511	140,732	139,811	139,701		1,021	1	3,831	3
STOCKHOLDERS' EQUITY
	Preferred stock:
	$25.00 par value, 100,000,000 shares authorized for each of the periods	1,570	1,133	1,133	1,132
	presented	840		437	39	730	87
	Common stock:
	$0.01 par value, 1,000,000,000 shares authorized for each of the periods	6	6	6	6	6		-		-		-		-
	presented
	Additional paid-in capital	18,891	18,876	18,860	18,847	18,815		15		-	76		-
	Retained earnings	6,498	6,229	5,959	5,672	5,385		269	4	1,113	21
	Treasury stock, at cost	(4,353)	(3,953)	(3,453)	(3,333)	(3,133)		(400)	(10)	(1,220)	(39)
	Accumulated other comprehensive loss	(411)		(440)		(488)		(793)		(1,096)		29	7		685	63
	TOTAL STOCKHOLDERS' EQUITY	22,201		21,851		22,017		21,531		20,817		350	2		1,384	7
	TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$165,733		$164,362		$162,749		$161,342		$160,518		$1,371	1%		$5,215	3%
	Memo: Total tangible common equity								(1%)		4%
	$13,893		$13,976		$14,141		$13,649		$13,389		($83)		$504

1. Balances are net of certain short-term receivables associated with reverse repurchase agreements.
2. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. 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, 2019 CHANGE

Dec 31, 2019

Sept 30, 2019

June 30, 2019

Mar 31, 2019

Dec 31, 2018

Sept 30, 2019

December 31, 2018

												$	%	$	%
LOANS AND LEASES
Commercial	$41,479	$41,356	$41,156	$41,497	$40,857		$123		-%	$622	2%
Commercial real estate	13,522	12,820	13,123	13,372	13,023		702	5	499	4
Leases	2,537	2,557	2,684	2,820	2,903		(20)	(1)	(366)	(13)
Total commercial loans and leases		57,538	56,733	56,963	57,689	56,783		805	1	755	1
Residential mortgages		19,083		19,699		19,192		19,174		18,978		(616)	(3)		105	1
Home equity loans	812	876	938	1,006	1,073		(64)	(7)	(261)	(24)
Home equity lines of credit	11,979	12,148	12,266	12,394	12,710		(169)	(1)	(731)	(6)
Home equity loans serviced by others	289	318	348	375	399		(29)	(9)	(110)	(28)
Home equity lines of credit serviced by others	74	81	88	95	104		(7)	(9)	(30)	(29)
Automobile	12,120	12,070	12,000	11,992	12,106		50		-	14		-
Education	10,347	9,729	9,305	9,274	8,900		618	6	1,447	16
Credit card	2,198	2,133	2,046	1,982	1,991		65	3	207	10
Other retail	4,648	4,093	3,692	3,634	3,616		555	14	1,032	29
Total retail loans		61,550	61,147	59,875	59,926	59,877		403	1	1,673	3
Total loans and leases		$119,088		$117,880		$116,838		$117,615		$116,660		$1,208	1%		$2,428	2%
Loans held for sale, at fair value	1,946	1,993	1,750	1,186	1,219		(47)	(2)	727	60
Other loans held for sale	1,384	22	455	66	101		1,362		NM	1,283		NM
Loans and leases and loans held for sale	$122,418	$119,895	$119,043	$118,867	$117,980		$2,523	2%	$4,438	4%
DEPOSITS
Demand	$29,233	$29,939	$28,192	$28,383	$29,458		($706)	(2%)	($225)	(1%)
Checking with interest	24,840	24,403	25,021	23,482	23,067		437	2	1,773	8
Regular savings	13,779	13,479	13,495	13,239	12,007		300	2	1,772	15
Money market accounts	38,725	36,826	35,329	35,972	35,701		1,899	5	3,024	8
Term deposits	18,736	20,067	21,967	22,840	19,342		(1,331)	(7)	(606)	(3)
Total deposits	$125,313	$124,714	$124,004	$123,916	$119,575		$599		-%	$5,738	5%

7

AVERAGE BALANCE SHEETS (in millions)

									QUARTERLY TRENDS													FULL YEAR
																	4Q19 Change							2019	Change
			4Q19		3Q19		2Q19		1Q19		4Q18			3Q19			4Q18			2019		2018		2018
														$			%	$			%						$				%
ASSETS
	Interest-bearing cash and due from banks and deposits in banks	$1,970		$1,474		$1,229		$1,497		$1,467			$496			34%		$503			34%		$1,544		$1,579		($35)			(2%)
	Taxable investment securities	25,305	25,635	25,620	25,136	25,081			(330)			(1)	224			1		25,425	25,233		192				1
	Non-taxable investment securities	5		5		5		5		5			-		-		-		-	5		6		(1)			(17)
	Total investment securities	25,310		25,640		25,625		25,141		25,086			(330)			(1)		224			1		25,430		25,239		191				1
	Investment securities and interest-bearing deposits	27,280		27,114		26,854		26,638		26,553			166			1		727			3		26,974		26,818		156				1
	Commercial	42,012	41,476	41,755	41,562	40,472			536			1	1,540			4		41,702	39,363		2,339				6
	Commercial real estate	13,103	12,892	13,379	13,272	12,900			211			2	203			2		13,160	12,299		861				7
	Leases	2,546		2,615		2,745		2,873		2,938			(69)			(3)		(392)			(13)		2,694		3,038		(344)			(11)
	Total commercial loans and leases	57,661		56,983		57,879		57,707		56,310			678			1		1,351			2		57,556		54,700		2,856				5
	Residential mortgages	19,495	19,405	19,232	19,094	18,713			90			-	782			4		19,308	17,883		1,425				8
	Home equity loans	843	906	971	1,039	1,101			(63)			(7)	(258)			(23)		939	1,215		(276)			(23)
	Home equity lines of credit	12,045	12,182	12,332	12,552	12,790			(137)			(1)	(745)			(6)		12,276	13,043		(767)			(6)
	Home equity loans serviced by others	301	330	359	385	411			(29)			(9)	(110)			(27)		343	463		(120)			(26)
	Home equity lines of credit serviced by others	76	83	92	99	108			(7)			(8)	(32)			(30)		87	124		(37)			(30)
	Automobile	12,099	12,036	11,984	12,070	12,179			63			1	(80)			(1)		12,047	12,555		(508)			(4)
	Education	9,888	9,459	9,235	9,069	8,801			429			5	1,087			12		9,415	8,486		929				11
	Credit cards	2,188	2,103	2,041	1,998	1,973			85			4	215			11		2,083	1,891		192				10
	Other retail	4,309		3,770		3,658		3,636		3,507			539			14		802			23		3,846		3,113		733				24
	Total retail loans	61,244		60,274		59,904		59,942		59,583			970			2		1,661			3		60,344		58,773		1,571				3
	Total loans and leases	118,905	117,257	117,783	117,649	115,893			1,648			1	3,012			3		117,900	113,473		4,427				4
	Loans held for sale, at fair value	2,209	1,970	1,528	1,035	1,245			239			12	964			77		1,689	844		845				100
	Other loans held for sale	517		134		158		191		79			383			NM		438			NM	251		164		87				53
	Total interest-earning assets	148,911	146,475	146,323	145,513	143,770			2,436			2	5,141			4		146,814	141,299		5,515				4
	Allowance for loan and lease losses	(1,260)	(1,226)	(1,247)	(1,243)	(1,241)			(34)			(3)	(19)			(2)		(1,244)	(1,245)		1				-
	Goodwill	7,044	7,044	7,040	7,018	6,946			-	-	98			1		7,036	6,912		124				2
	Other noninterest-earning assets	9,951		9,817		9,373		9,127		8,257			134			1		1,694			21		9,570		7,587		1,983				26
	TOTAL ASSETS	$164,646	$162,110	$161,489	$160,415	$157,732			$2,536			2%	$6,914			4%		$162,176	$154,553		$7,623				5%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
	Checking with interest	$23,545	$23,422	$23,919	$22,987	$21,792			$123			1%	$1,753			8%		$23,470	$21,856		$1,614				7%
	Money market accounts	38,809	37,161	35,228	35,209	35,929			1,648			4	2,880			8		36,613	36,497		116				-
	Regular savings	13,582	13,442	13,324	12,626	11,220			140			1	2,362			21		13,247	10,238		3,009				29
	Term deposits	19,788		20,951		22,292		21,127		19,000			(1,163)			(6)		788			4		21,035		18,035		3,000				17
	Total interest-bearing deposits	95,724	94,976	94,763	91,949	87,941			748			1	7,783			9		94,365	86,626		7,739				9
	Federal funds purchased and securities sold under agreements to	456	487	818	640	821			(31)			(6)	(365)			(44)		599	654		(55)			(8)
	repurchase1
	Other short-term borrowed funds	2	48	113	45	58	341			(65)			(58)	(293)			(86)		66	467		(401)			(86)
	Long-term borrowed funds2	12,830		12,134		12,386		14,736		15,573			696			6		(2,743)			(18)		13,014		14,796		(1,782)			(12)
	Total borrowed funds	13,334		12,734		13,249		15,434		16,735			600			5		(3,401)			(20)		13,679		15,917		(2,238)			(14)
	Total interest-bearing liabilities	109,058	107,710	108,012	107,383	104,676			1,348			1	4,382			4		108,044	102,543		5,501				5
	Total demand deposits	29,928	28,945	28,389	28,465	29,824			983			3	104			-	28,936	29,231		(295)			(1)
	Other liabilities	3,819		3,789		3,536		3,584		2,948			30			1		871			30		3,683		2,651		1,032				39
	TOTAL LIABILITIES	142,805		140,444		139,937		139,432		137,448			2,361			2		5,357			4		140,663		134,425		6,238				5
	STOCKHOLDERS' EQUITY	21,841		21,666		21,552		20,983		20,284			175			1		1,557			8		21,513		20,128		1,385				7
	TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$164,646		$162,110		$161,489		$160,415		$157,732			$2,536			2%		$6,914			4%		$162,176		$154,553		$7,623				5%
	Memo: Total loans and leases, including loans held for sale											2%				4%									5%
	$121,631		$119,361		$119,469		$118,875		$117,217			$2,270				$4,414				$119,840		$114,481		$5,359
	Total deposits (interest-bearing and demand)	$125,652	$123,921	$123,152	$120,414	$117,765			$1,731			1%	$7,887			7%		$123,301	$115,857		$7,444				6%
	Total average tangible common equity	$13,660	$13,788	$13,670	$13,233	$12,907			($128)			(1%)	$753			6%		$13,589	$13,078		$511				4%

1. Balances are net of certain short-term receivables associated with reverse repurchase agreements.
2. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation.

8

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

								QUARTERLY TRENDS												FULL YEAR
	4Q19		3Q19		2Q19		1Q19	4Q18	2019		2018
			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	1.49%		$7	2.09%		$8	2.16%		$7	2.19%		$8		2.05%		$8		1.94%		$30		1.82%		$29
Taxable investment securities	2.47	159	2.38	153	2.56	164	2.64	166		2.73	172		2.51	642		2.66	672
Non-taxable investment securities	2.60		-	2.60		-	2.60		-	2.60		-		2.60		-		2.60		-		2.60		-
Total investment securities	2.47		159	2.38		153	2.56		164	2.64		166		2.73		172		2.51		642		2.66		672
Investment securities and interest-bearing deposits			166				161				171				174				180				672				701
Commercial	3.95	424	4.17	442	4.45	471	4.43	460		4.25	440		4.25	1,797		4.06	1,621
Commercial real estate	4.26	142	4.70	155	4.91	166	4.98	165		4.77	157		4.71	628		4.47	557
Leases	2.77		18	2.85		19	2.89		19	2.85		21		2.81		20		2.84		77		2.71		82
Total commercial loans and leases	3.97		584	4.23		616	4.48		656	4.48		646		4.30		617		4.29		2,502		4.08		2,260
Residential mortgages	3.40	165	3.53	171	3.65	176	3.67	175		3.67	171		3.56	687		3.60	644
Home equity loans	6.11	13	6.21	14	6.01	14	6.05	16		6.09	17		6.09	57		5.91	72
Home equity lines of credit	4.55	138	5.08	156	5.15	158	5.13	159		4.91	158		4.98	611		4.54	592
Home equity loans serviced by others	8.07	6	8.48	7	7.67	7	7.75	7		7.48	8		7.98	27		7.36	34
Home equity lines of credit serviced by others	5.39	2	4.56	1	5.27	1	4.97	1		4.56	1		5.04	5		4.23	5
Automobile	4.32	132	4.25	129	4.19	125	4.04	120		3.90	119		4.20	506		3.68	461
Education	5.76	143	5.89	141	5.97	137	5.99	134		5.87	130		5.89	555		5.74	487
Credit cards	9.53	53	9.93	53	10.26	52	10.76	53		10.51	52		10.10	211		10.68	202
Other retail	6.97		76	7.25		68	7.11		66	7.83		70		8.17		74		7.27		280		8.09		253
Total retail loans	4.72		728	4.88		740	4.92		736	4.96		735		4.87		730		4.87		2,939		4.68		2,750
Total loans and leases	4.36	1,312	4.56	1,356	4.71	1,392	4.72	1,381		4.59	1,347		4.59	5,441		4.39	5,010
Loans held for sale, at fair value	3.38	18	3.71	19	3.93	15	4.35	11		4.59	14		3.74	63		4.38	37
Other loans held for sale	3.89		5	6.42		2	5.67		2	7.03		4		5.13		1		5.10		13		6.18		10
Total interest-earning assets	3.98	1,501	4.15	1,538	4.30	1,580	4.34	1,570		4.24	1,542		4.19	6,189		4.05	5,758
INTEREST-BEARING LIABILITIES
Checking with interest	0.71	42	0.88	52	0.96	57	0.91	52		0.75	42		0.87	203		0.63	138
Money market accounts	1.12	110	1.24	116	1.30	114	1.26	110		1.14	104		1.23	450		0.94	343
Regular savings	0.52	17	0.59	20	0.62	21	0.56	17		0.35	10		0.57	75		0.15	15
Term deposits	1.88		94	2.05		109	2.09		116	2.08		108		1.88		89		2.03		427		1.61		289
Total interest-bearing deposits	1.09	263	1.24	297	1.30	308	1.27	287		1.10	245		1.22	1,155		0.91	785
Federal funds purchased and securities sold under agreements to repurchase1	0.96	1	1.19	2	1.76	3	1.24	2		1.27	2		1.36	8		0.94	6
Other short-term borrowed funds2	2.16	1	2.46		-	2.66	1	2.75		-	2.58	2		2.50	2		2.10	9
Long-term borrowed funds2	2.91		93	3.07		94	3.30		102	3.27		121		3.07		121		3.14		410		2.86		426
Total borrowed funds	2.84		95	3.00		96	3.20		106	3.18		123		2.98		125		3.06		420		2.76		441
Total interest-bearing liabilities	1.30	358	1.45	393	1.54	414	1.54	410		1.40	370		1.46	1,575		1.19	1,226
INTEREST RATE SPREAD	2.68			2.70			2.77			2.80				2.84				2.73				2.86
NET INTEREST MARGIN AND NET INTEREST INCOME3	3.04%		$1,143	3.10%		$1,145	3.20%		$1,166	3.23%		$1,160		3.23%		$1,172		3.14%		$4,614		3.21%		$4,532
NET INTEREST MARGIN AND NET INTEREST INCOME, FTE4	3.06%	$1,147	3.12%	$1,150	3.21%	$1,172	3.25%	$1,166		3.25%	$1,177		3.16%	$4,635		3.22%	$4,554
Memo: Total deposit costs	0.83%	$263	0.95%	$297	1.00%	$308	0.97%	$287		0.82%	$245		0.94%	$1,155		0.68%	$785

1. Balances are net of certain short-term receivables associated with reverse repurchase agreements; interest expense includes the full cost of the repurchase agreements and certain hedging costs.
2. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation.
3. Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation.
4. 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.

9

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

			FOURTH QUARTER 2019						THIRD QUARTER 2019				CHANGE
																	4Q19 from 3Q19
	Consumer		Commercial		Other1				Consumer		Commercial		Other1
	Banking		Banking			Consolidated		Banking		Banking			Consolidated		$/bps			%
Net interest income	$796	$363	($16)	$1,143	$799	$360	($14)	$1,145	($2)			-%
Noninterest income	296	175	23	494	336	133	24	493	1			-
Total revenue	1,092	538	7	1,637	1,135	493	10	1,638	(1)			-
Noninterest expense	718	219	49	986	718	213	42	973	13			1
Profit (loss) before provision for credit losses	374	319	(42)	651	417	280	(32)	665	(14)			(2)
Provision for credit losses	97	24	(11)	110	83	27	(9)	101	9			9
Income (loss) before income tax expense (benefit)	277	295	(31)	541	334	253	(23)	564	(23)			(4)
Income tax expense (benefit)	68	64	(41)	91	83	57	(25)	115	(24)			(21)
Net income	$209	$231	$10	$450	$251	$196	$2	$449	$1			-%
AVERAGE BALANCES
Total assets	$68,069	$56,407	$40,170	$164,646	$66,365	$55,614	$40,131	$162,110	$2,536			2%
Total loans and leases2	65,157	54,523	1,951	121,631	63,553	53,814	1,994	119,361	2,270			2
Deposits	85,477	32,715	7,460	125,652	85,595	31,491	6,835	123,921	1,731			1
Interest-earning assets	65,208	54,905	28,798	148,911	63,605	54,087	28,783	146,475	2,436			2
KEY METRICS
Net interest margin	4.85%	2.62%		NM	3.04%	4.99%	2.64%		NM	3.10%		(6) bps
Efficiency ratio	65.74	40.60		NM	60.28	63.28	43.35		NM	59.40		88 bps
Loans-to-deposits ratio (period-end balances)	74.15	165.24		NM	95.03	73.61	163.62		NM	94.52		51 bps
Loans-to-deposits ratio (average balances)	73.37	165.80		NM	94.63	72.11	170.01		NM	94.62		1 bps
Return on average total tangible assets	1.22	1.63		NM	1.13	1.50	1.40		NM	1.15		(2) bps

1. Includes 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.
2. Includes loans held for sale.

10

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

			FOURTH QUARTER 2019						FOURTH QUARTER 2018				CHANGE
																	4Q19 from 4Q18
	Consumer		Commercial		Other1				Consumer		Commercial		Other1
	Banking		Banking			Consolidated		Banking		Banking			Consolidated		$/bps			%
Net interest income	$796	$363	($16)	$1,143	$796	$384	($8)	$1,172	($29)			(2%)
Noninterest income	296	175	23	494	265	140	16	421	73			17
Total revenue	1,092	538	7	1,637	1,061	524	8	1,593	44			3
Noninterest expense	718	219	49	986	723	203	25	951	35			4
Profit (loss) before provision for credit losses	374	319	(42)	651	338	321	(17)	642	9			1
Provision for credit losses	97	24	(11)	110	80	7	(2)	85	25			29
Income (loss) before income tax expense (benefit)	277	295	(31)	541	258	314	(15)	557	(16)			(3)
Income tax expense (benefit)	68	64	(41)	91	65	73	(46)	92	(1)			(1)
Net income	$209	$231	$10	$450	$193	$241	$31	$465	($15)			(3%)
AVERAGE BALANCES
Total assets	$68,069	$56,407	$40,170	$164,646	$64,187	$53,970	$39,575	$157,732	$6,914			4%
Total loans and leases2	65,157	54,523	1,951	121,631	61,920	52,963	2,334	117,217	4,414			4
Deposits	85,477	32,715	7,460	125,652	79,174	30,608	7,983	117,765	7,887			7
Interest-earning assets	65,208	54,905	28,798	148,911	61,975	53,221	28,574	143,770	5,141			4
KEY METRICS
Net interest margin3	4.85%	2.62%		NM	3.04%	5.09%	2.86%		NM	3.23%		(19) bps
Efficiency ratio	65.74	40.60		NM	60.28	68.22	38.73		NM	59.69		59 bps
Loans-to-deposits ratio (period-end balances)	74.15	165.24		NM	95.03	76.02	172.27		NM	97.56		(253) bps
Loans-to-deposits ratio (average balances)	73.37	165.80		NM	94.63	76.91	172.07		NM	98.41		(378) bps
Return on average total tangible assets	1.22	1.63		NM	1.13	1.19	1.78		NM	1.22		(9) bps

1. Includes 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.
2. Includes loans held for sale.
3. Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation.

11

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

			FULL YEAR 2019						FULL YEAR 2018				CHANGE
																	2019 from 2018
	Consumer		Commercial		Other1				Consumer		Commercial		Other1
	Banking		Banking			Consolidated		Banking		Banking			Consolidated		$/bps			%
Net interest income	$3,182	$1,466	($34)	$4,614	$3,064	$1,497	($29)	$4,532	$82			2%
Noninterest income	1,156	607	114	1,877	973	545	78	1,596	281			18
Total revenue	4,338	2,073	80	6,491	4,037	2,042	49	6,128	363			6
Noninterest expense	2,851	858	138	3,847	2,723	813	83	3,619	228			6
Profit (loss) before provision for credit losses	1,487	1,215	(58)	2,644	1,314	1,229	(34)	2,509	135			5
Provision for credit losses	325	97	(29)	393	289	26	11	326	67			21
Income (loss) before income tax expense (benefit)	1,162	1,118	(29)	2,251	1,025	1,203	(45)	2,183	68			3
Income tax expense (benefit)	287	248	(75)	460	258	276	(72)	462	(2)			-
Net income	$875	$870	$46	$1,791	$767	$927	$27	$1,721	$70			4%
AVERAGE BALANCES
Total assets	$66,240	$55,947	$39,989	$162,176	$62,444	$52,362	$39,747	$154,553	$7,623			5%
Total loans and leases2	63,396	54,355	2,089	119,840	60,691	51,344	2,446	114,481	5,359			5
Deposits	84,835	31,085	7,381	123,301	77,542	30,704	7,611	115,857	7,444			6
Interest-earning assets	63,449	54,666	28,699	146,814	60,743	51,572	28,984	141,299	5,515			4
KEY METRICS
Net interest margin3	5.02%	2.68%		NM	3.14%	5.04%	2.90%		NM	3.21%		(7) bps
Efficiency ratio	65.72	41.38		NM	59.28	67.47	39.80		NM	59.06		22 bps
Loans-to-deposits ratio (period-end balances)	74.15	165.24		NM	95.03	76.02	172.27		NM	97.56		(253) bps
Loans-to-deposits ratio (average balances)	72.81	173.85		NM	95.62	77.42	166.09		NM	97.94		(232) bps
Return on average total tangible assets	1.32	1.56		NM	1.15	1.23	1.77		NM	1.16		(1) bps

1. Includes 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.
2. Includes loans held for sale.
3. Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation.

12

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

							QUARTERLY TRENDS											FULL YEAR
CONSUMER BANKING
													4Q19 Change								2019 Change
	4Q19		3Q19		2Q19		1Q19		4Q18	3Q19			4Q18			2019	2018		2018
											$/bps	%		$/bps	%							$/bps	%
Net interest income	$796	$799	$799	$788	$796		($3)			-%		$-		-%	$3,182	$3,064		$118			4%
Noninterest income	296	336	277	247	265		(40)			(12)	31				12	1,156	973		183			19
Total revenue	1,092	1,135	1,076	1,035	1,061		(43)			(4)	31				3	4,338	4,037		301			7
Noninterest expense	718	718	715	700	723		-	-	(5)				(1)	2,851	2,723		128			5
Profit before provision for credit losses	374	417	361	335	338		(43)			(10)	36				11	1,487	1,314		173			13
Provision for credit losses	97	83	78	67	80		14			17	17				21	325	289		36			12
Income before income tax expense	277	334	283	268	258		(57)			(17)	19				7	1,162	1,025		137			13
Income tax expense	68	83	70	66	65		(15)			(18)	3				5	287	258		29			11
Net income	$209	$251	$213	$202	$193		($42)			(17%)	$16				8%	$875	$767		$108			14%
AVERAGE BALANCES
Total assets	$68,069	$66,365	$65,485	$65,007	$64,187		$1,704			3%	$3,882				6%	$66,240	$62,444		$3,796			6%
Total loans and leases1	65,157	63,553	62,678	62,163	61,920		1,604			3	3,237				5	63,396	60,691		2,705			4
Deposits	85,477	85,595	85,660	82,569	79,174		(118)			-	6,303				8	84,835	77,542		7,293			9
Interest-earning assets	65,208	63,605	62,731	62,216	61,975		1,603			3	3,233				5	63,449	60,743		2,706			4
KEY METRICS
Net interest margin	4.85%	4.99%	5.11%	5.14%	5.09%		(14) bps			(24) bps			5.02%	5.04%		(2) bps
Efficiency ratio	65.74	63.28	66.43	67.62	68.22		246 bps			(248) bps			65.72	67.47		(175) bps
Loans-to-deposits ratio (period-end balances)	74.15	73.61	71.13	71.17	76.02		54 bps			(187) bps			74.15	76.02		(187) bps
Loans-to-deposits ratio (average balances)	73.37	72.11	71.57	74.27	76.91		126 bps			(354) bps			72.81	77.42		(461) bps
Return on average total tangible assets	1.22	1.50	1.31	1.26	1.19		(28) bps			3 bps			1.32	1.23		9 bps
1 Includes loans held for sale.

13

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

							QUARTERLY TRENDS											FULL YEAR
														4Q19 Change							2019 Change
	4Q19		3Q19		2Q19		1Q19		4Q18	3Q19			4Q18		2019	2018		2018
												$/bps	%		$/bps	%						$/bps	%
MORTGAGE BANKING FEES
Production revenue	$61	$80	$49	$31	$29			($19)		(24%)	$32		110%	$221	$93		$128			138%
Mortgage servicing revenue	16	12	9	14	21			4		33	(5)		(24)	51	53		(2)			(4)
MSR valuation changes, net of hedge impact	4	25	4	(2)	6			(21)		(84)	(2)		(33)	31	11		20			182
Total mortgage banking fees	$81	$117	$62	$43	$56			($36)		(31%)	$25		45%	$303	$157		$146			93%
Gain on sale of secondary originations	0.98%	1.40%	1.13%	1.28%	0.82%			(42) bps			16 bps		1.18%	1.10%		8 bps
RESIDENTIAL REAL ESTATE ORIGINATIONS
Retail	$3,196	$2,771	$2,115	$1,313	$1,693			$425		15%	$1,503		89%	$9,395	$6,728		$2,667			40%
Third Party	5,750	5,080	3,921	2,260	2,880			670		13	2,870		100	17,011	5,058		11,953			236
Total	$8,946		$7,851		$6,036		$3,573		$4,573			$1,095		14%		$4,373		96%		$26,406		$11,786		$14,620			124%
Originated for sale	80%	80%	81%	81%	80%			- bps			- bps		80%	68%		1,200 bps
Originated for investment	20	20	19	19	20			- bps			- bps		20	32		(1,200) bps
Total	100%		100%		100%		100%		100%											100%		100%
MORTGAGE SERVICING INFORMATION (UPB)
Loans serviced for others	$77,526	$74,610	$72,518	$70,847	$69,593			$2,916		4%	$7,933		11%	$77,526	$69,593		$7,933			11%
Owned loans serviced	20,831	19,969	19,258	18,437	18,298			862		4	2,533		14	20,831	18,298		2,533			14
Total	$98,357	$94,579	$91,776	$89,284	$87,891			$3,778		4%	$10,466		12%	$98,357	$87,891		$10,466			12%
MSR CARRYING VALUE
MSR at fair value	$642	$510	$531	$563	$600			$132		26%	$42		7%	$642	$600		$42			7%
MSR at lower of cost or market	182	177	189	212	221			5		3	(39)		(18)	182	221		(39)			(18)
Total	$824		$687		$720		$775		$821			$137		20%		$3		-%		$824		$821		$3			-%

14

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

							QUARTERLY TRENDS										FULL YEAR
COMMERCIAL BANKING
													4Q19 Change							2019 Change
	4Q19		3Q19		2Q19		1Q19		4Q18	3Q19			4Q18		2019	2018		2018
											$/bps	%		$/bps	%						$/bps	%
Net interest income	$363	$360	$371	$372	$384		$3			1%	($21)			(5%)	$1,466	$1,497		($31)			(2%)
Noninterest income	175	133	149	150	140		42			32	35			25	607	545		62			11
Total revenue	538	493	520	522	524		45			9	14			3	2,073	2,042		31			2
Noninterest expense	219	213	217	209	203		6			3	16			8	858	813		45			6
Profit before provision for credit losses	319	280	303	313	321		39			14	(2)			(1)	1,215	1,229		(14)			(1)
Provision for credit losses	24	27	25	21	7		(3)			(11)	17			243	97	26		71			NM
Income before income tax expense	295	253	278	292	314		42			17	(19)			(6)	1,118	1,203		(85)			(7)
Income tax expense	64	57	62	65	73		7			12	(9)			(12)	248	276		(28)			(10)
Net income	$231	$196	$216	$227	$241		$35			18%	($10)			(4%)	$870	$927		($57)			(6%)
AVERAGE BALANCES
Total assets	$56,407	$55,614	$56,135	$55,630	$53,970		$793			1%	$2,437			5%	$55,947	$52,362		$3,585			7%
Total loans and leases1	54,523	53,814	54,653	54,436	52,963		709			1	1,560			3	54,355	51,344		3,011			6
Deposits	32,715	31,491	30,273	29,823	30,608		1,224			4	2,107			7	31,085	30,704		381			1
Interest-earning assets	54,905	54,087	54,950	54,724	53,221		818			2	1,684			3	54,666	51,572		3,094			6
KEY METRICS
Net interest margin	2.62%	2.64%	2.71%	2.76%	2.86%		(2) bps			(24) bps		2.68%	2.90%		(22) bps
Efficiency ratio	40.60	43.35	41.58	40.11	38.73		(275) bps			187 bps		41.38	39.80		158 bps
Loans-to-deposits ratio (period-end balances)	165.24	163.62	173.48	180.53	172.27		162 bps			(703) bps		165.24	172.27		(703) bps
Loans-to-deposits ratio (average balances)	165.80	170.01	179.49	181.23	172.07		(421) bps			(627) bps		173.85	166.09		776 bps
Return on average total tangible assets	1.63	1.40	1.54	1.66	1.78		23 bps			(15) bps		1.56	1.77		(21) bps
1 Includes loans held for sale.

15

SEGMENT FINANCIAL HIGHLIGHTS - OTHER (in millions)

							QUARTERLY TRENDS														FULL YEAR
OTHER1
														4Q19 Change											2019 Change
	4Q19		3Q19		2Q19		1Q19		4Q18	3Q19				4Q18		2019	2018			2018
								$				%	$				%							$			%
Net interest income	($16)	($14)	($4)		$-	($8)			($2)			(14%)			($8)			(100%)	($34)	($29)			($5)			(17%)
Noninterest income	23	24	36	31	16			(1)			(4)			7			44	114	78			36			46
Total revenue	7	10	32	31	8			(3)			(30)			(1)			(13)	80	49			31			63
Noninterest expense	49	42	19	28	25			7			17			24			96	138	83			55			66
(Loss) profit before provision for credit losses	(42)	(32)	13	3	(17)			(10)			(31)			(25)			(147)	(58)	(34)			(24)			(71)
Provision for credit losses	(11)	(9)	(6)	(3)	(2)			(2)			(22)			(9)			NM	(29)	11			(40)			NM
(Loss) income before income tax benefit	(31)	(23)	19	6	(15)			(8)			(35)			(16)			(107)	(29)	(45)			16			36
Income tax benefit	(41)	(25)	(5)	(4)	(46)			(16)			(64)			5			11	(75)	(72)			(3)			(4)
Net income	$10	$2	$24	$10	$31			$8			NM			($21)			(68%)	$46	$27			$19			70%
AVERAGE BALANCES
Total assets	$40,170	$40,131	$39,869	$39,778	$39,575			$39			-%			$595			2%	$39,989	$39,747			$242			1%
Total loans and leases2	1,951	1,994	2,138	2,276	2,334			(43)			(2)			(383)			(16)	2,089	2,446			(357)			(15)
Deposits	7,460	6,835	7,219	8,022	7,983			625			9			(523)			(7)	7,381	7,611			(230)			(3)
Interest-earning assets	28,798	28,783	28,642	28,573	28,574			15			-			224			1	28,699	28,984			(285)			(1)

1. Includes 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.
2. Includes loans held for sale.

16

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

					AS OF							DECEMBER 31, 2019 CHANGE
	Dec 31, 2019		Sept 30, 2019		June 30, 2019		Mar 31, 2019		Dec 31, 2018		Sept 30, 2019			Dec 31, 2018
											$/bps	%			$/bps	%
NONPERFORMING ASSETS
Commercial	$240	$228	$198	$208	$194	$12			5%	$46			24%
Commercial real estate	2	49	4	4	7	(47)			(96)	(5)			(71)
Leases	3	4	17		-		-	(1)			(25)	3			100
Total commercial loans and leases	245	281	219	212	201	(36)			(13)	44			22
Residential mortgages1	93	91	98	102	105	2			2	(12)			(11)
Home equity loans	33	36	38	42	50	(3)			(8)	(17)			(34)
Home equity lines of credit	187	184	210	217	231	3			2	(44)			(19)
Home equity loans serviced by others	14	14	16	15	17		-			-	(3)			(18)
Home equity lines of credit serviced by others	12	13	14	14	15	(1)			(8)	(3)			(20)
Automobile	67	69	62	70	81	(2)			(3)	(14)			(17)
Education	18	17	40	43	38	1			6	(20)			(53)
Credit card	22	21	20	22	20	1			5	2			10
Other retail	12	11	10	7	8	1			9	4			50
Total retail loans	458	456	508	532	565	2			-	(107)			(19)
Nonperforming loans and leases	703		737		727		744		766		(34)			(5)		(63)			(8)
Other nonperforming assets - Retail	45	40	32	34	34	5			13	11			32
Nonperforming assets	$748		$777		$759		$778		$800		($29)			(4%)		($52)			(7%)
NONPERFORMING ASSETS BY PRODUCT
Commercial	$245	$281	$219	$212	$201	($36)			(13%)	$44			22%
Retail	503	496	540	566	599	7			1	(96)			(16)
Total nonperforming assets	$748		$777		$759		$778		$800		($29)			(4%)		($52)			(7%)
ASSET QUALITY RATIOS
Allowance for loan and lease losses to loans and leases	1.05%	1.07%	1.05%	1.06%	1.06%		(2) bps					(1) bps
Allowance for loan and lease losses to nonperforming loans and leases	177.99	171.39	168.80	167.36	162.20	660				1,579
Nonperforming loans and leases to loans and leases	0.59	0.63	0.62	0.63	0.66	(4)				(7)
Nonperforming assets to total assets	0.45	0.47	0.47	0.48	0.50	(2)				(5)

1 Beginning in the fourth quarter of 2019, nonperforming 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.

17

CREDIT-RELATED INFORMATION, CONTINUED (in millions)

								QUARTERLY TRENDS														FULL YEAR
																4Q19 Change										2019 Change
		4Q19		3Q19		2Q19		1Q19		4Q18			3Q19				4Q18			2019		2018		2018
									$				%	$				%						$			%
CHARGE-OFFS, RECOVERIES AND RELATED RATIOS
GROSS CHARGE-OFFS
Commercial	$24		$20	$40	$3	$17			$4			20%			$7			41%	$87	$48		$39			81%
Commercial real estate	9		10		-	20		-	(1)			(10)			9			100	39	4		35			NM
Leases		1		5		5		3		-			(4)			(80)			1			100		14		-		14			100
Total commercial loans and leases	34		35	45	26	17			(1)			(3)			17			100	140	52		88			169
Residential mortgages	2		2	2	2	2			-	-			-	-	8	8		-	-
Home equity loans		-	1	3	1	1			(1)			(100)			(1)			(100)	5	6		(1)			(17)
Home equity lines of credit	7		7	7	5	6			-	-			1			17	26	26		-	-
Home equity loans serviced by others	2		2	1	1	3			-	-			(1)			(33)	6	9		(3)			(33)
Home equity lines of credit serviced by others	1		1		-		-	1			-	-			-	-	2	4		(2)			(50)
Automobile	38		37	30	38	37			1			3			1			3	143	158		(15)			(9)
Education	20		18	18	16	17			2			11			3			18	72	68		4			6
Credit card	21		20	21	19	17			1			5			4			24	81	68		13			19
Other retail		37		36		29		30		30			1			3			7			23		132		95		37			39
Total retail loans		128		124		111		112		114			4			3			14			12		475		442		33			7
Total gross charge-offs	$162		$159	$156	$138	$131			$3			2%			$31			24%	$615	$494		$121			24%
GROSS RECOVERIES
Commercial	$7		$3	$12	$2	$6			$4			133%			$1			17%	$24	$15		$9			60%
Commercial real estate		-	-		-		-	3			-	-			(3)			(100)		-	4		(4)			(100)
Leases		-		-		-		-		-			-		-			-		-		-		-		-		-
Total commercial loans and leases	7		3	12	2	9			4			133			(2)			(22)	24	19		5			26
Residential mortgages	1		1	2	5	1			-	-			-	-	9	5		4			80
Home equity loans	2		2	2	4	2			-	-			-	-	10	11		(1)			(9)
Home equity lines of credit	3		5	4	9	4			(2)			(40)			(1)			(25)	21	16		5			31
Home equity loans serviced by others	4		4	3	3	4			-	-			-	-	14	15		(1)			(7)
Home equity lines of credit serviced by others	1		1	1	1	2			-	-			(1)			(50)	4	7		(3)			(43)
Automobile	11		15	16	15	15			(4)			(27)			(4)			(27)	57	67		(10)			(15)
Education	4		4	4	4	4			-	-			-	-	16	16		-	-
Credit card	3		2	2	2	2			1			50			1			50	9	8		1			13
Other retail		4		9		4		4		3			(5)			(56)			1			33		21		13		8			62
Total retail loans		33		43		38		47		37			(10)			(23)			(4)			(11)		161		158		3			2
Total gross recoveries	$40		$46	$50	$49	$46			($6)			(13%)			($6)			(13%)	$185	$177		$8			5%
NET CHARGE-OFFS (RECOVERIES)
Commercial	$17		$17	$28	$1	$11			$-	-%			$6			55%	$63	$33		$30			91%
Commercial real estate	9		10		-	20	(3)			(1)			(10)			12			NM	39		-	39			100
Leases		1		5		5		3		-			(4)			(80)			1			100		14		-		14			100
Total commercial loans and leases	27		32	33	24	8			(5)			(16)			19			238	116	33		83			NM
Residential mortgages	1		1		-	(3)	1			-	-			-	-	(1)	3		(4)			NM
Home equity loans	(2)		(1)	1	(3)	(1)			(1)			(100)			(1)			(100)	(5)	(5)		-	-
Home equity lines of credit	4		2	3	(4)	2			2			100			2			100	5	10		(5)			(50)
Home equity loans serviced by others	(2)		(2)	(2)	(2)	(1)			-	-			(1)			(100)	(8)	(6)		(2)			(33)
Home equity lines of credit serviced by others		-	-	(1)	(1)	(1)			-	-			1			100	(2)	(3)		1			33
Automobile	27		22	14	23	22			5			23			5			23	86	91		(5)			(5)
Education	16		14	14	12	13			2			14			3			23	56	52		4			8
Credit card	18		18	19	17	15			-	-			3			20	72	60		12			20
Other retail		33		27		25		26		27			6			22			6			22		111		82		29			35
Total retail loans		95		81		73		65		77			14			17			18			23		314		284		30			11
Total net charge-offs	$122		$113	$106	$89	$85			$9			8%			$37			44%	$430	$317		$113			36%

18

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

							QUARTERLY TRENDS											FULL YEAR
													4Q19 Change								2019 Change
	4Q19	3Q19		2Q19		1Q19		4Q18	3Q19				4Q18			2019	2018		2018
											$/bps	%		$/bps	%						$/bps	%
ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES
Commercial	0.16%		0.16%	0.27%	0.01%	0.11%		- bps				5 bps			0.15%	0.08%		7 bps
Commercial real estate	0.26		0.31		-	0.62	(0.11)		(5) bps				37 bps			0.29		-	29 bps
Leases	0.19		0.80	0.72	0.42		-	(61) bps				19 bps			0.53		-	53 bps
Total commercial loans and leases	0.19		0.22	0.23	0.17	0.05		(3) bps				14 bps			0.20	0.06		14 bps
Residential mortgages	0.02		0.01	0.01	(0.07)	0.01		1 bps				1 bps				-	0.01		(1) bps
Home equity loans	(0.67)		(0.59)	0.33	(1.32)	(0.21)		(8) bps				(46) bps			(0.57)	(0.34)		(23) bps
Home equity lines of credit	0.13		0.08	0.07	(0.11)	0.07		5 bps				6 bps			0.04	0.08		(4) bps
Home equity loans serviced by others	(2.34)		(2.91)	(2.26)	(1.70)	(1.45)		57 bps				(89) bps			(2.28)	(1.38)		(90) bps
Home equity lines of credit serviced by others	0.27		(1.37)	(3.07)	(2.52)	(3.87)		164 bps				414 bps			(1.78)	(2.81)		103 bps
Automobile	0.85		0.74	0.49	0.77	0.71		11 bps				14 bps			0.71	0.73		(2) bps
Education	0.65		0.58	0.62	0.51	0.59		7 bps				6 bps			0.59	0.61		(2) bps
Credit card	3.35		3.35	3.71	3.33	3.09		- bps				26 bps			3.43	3.18		25 bps
Other retail	2.96		2.93	2.78	2.91	3.07		3 bps				(11) bps			2.90	2.63		27 bps
Total retail loans	0.61		0.53	0.49	0.44	0.51		8 bps				10 bps			0.52	0.48		4 bps
Total loans and leases	0.41%		0.38%	0.36%	0.31%	0.29%		3 bps				12 bps			0.36%	0.28%		8 bps
Memo: Average loans
Commercial	$42,012		$41,476	$41,755	$41,562	$40,472		$536	1%	$1,540	4%	$41,702	$39,363		$2,339		6%
Commercial real estate	13,103		12,892	13,379	13,272	12,900		211	2	203	2	13,160	12,299		861		7
Leases	2,546		2,615	2,745	2,873	2,938		(69)	(3)	(392)	(13)	2,694	3,038		(344)		(11)
Total commercial loans and leases	57,661		56,983	57,879	57,707	56,310		678	1	1,351	2	57,556	54,700		2,856		5
Residential mortgages	19,495		19,405	19,232	19,094	18,713		90		-	782	4	19,308	17,883		1,425		8
Home equity loans	843		906	971	1,039	1,101		(63)	(7)	(258)	(23)	939	1,215		(276)		(23)
Home equity lines of credit	12,045		12,182	12,332	12,552	12,790		(137)	(1)	(745)	(6)	12,276	13,043		(767)		(6)
Home equity loans serviced by others	301		330	359	385	411		(29)	(9)	(110)	(27)	343	463		(120)		(26)
Home equity lines of credit serviced by others	76		83	92	99	108		(7)	(8)	(32)	(30)	87	124		(37)		(30)
Automobile	12,099		12,036	11,984	12,070	12,179		63	1	(80)	(1)	12,047	12,555		(508)		(4)
Education	9,888		9,459	9,235	9,069	8,801		429	5	1,087	12	9,415	8,486		929		11
Credit card	2,188		2,103	2,041	1,998	1,973		85	4	215	11	2,083	1,891		192		10
Other retail	4,309		3,770	3,658	3,636	3,507		539	14	802	23	3,846	3,113		733		24
Total retail loans	61,244		60,274		59,904		59,942		59,583		970	2		1,661	3		60,344		58,773		1,571		3
Total loans and leases	$118,905		$117,257	$117,783	$117,649	$115,893		$1,648	1%	$3,012	3%	$117,900	$113,473		$4,427		4%

19

CREDIT-RELATED INFORMATION, CONTINUED (in millions)

								QUARTERLY TRENDS														FULL YEAR
																4Q19 Change											2019 Change
		4Q19		3Q19		2Q19		1Q19		4Q18	3Q19				4Q18		2019	2018			2018
									$				%	$				%							$			%
SUMMARY OF CHANGES IN THE COMPONENTS OF THE
ALLOWANCE FOR CREDIT LOSSES
Allowance for loan and lease losses - beginning	$1,263	$1,227	$1,245	$1,242	$1,242			$36			3%			$21			2%	$1,242	$1,236			$6			-%
Charge-offs:
Commercial	34	35	45	26	17			(1)			(3)			17			100	140	52			88			169
Retail		128	124	111	112	114			4			3			14			12	475	442			33			7
Total charge-offs		162		159		156		138		131			3			2			31			24		615		494			121			24
Recoveries:
Commercial	7	3	12	2	9			4			133			(2)			(22)	24	19			5			26
Retail		33	43	38	47	37			(10)			(23)			(4)			(11)	161	158			3			2
Total recoveries		40		46		50		49	46			(6)			(13)			(6)			(13)		185		177			8			5
Net charge-offs	122	113	106	89	85			9			8			37			44	430	317			113			36
Provision for loan and lease losses:
Commercial	(11)	64	22	25	(9)			(75)			NM			(2)			(22)	100	38			62			163
Retail	122	85	66	67	94			37			44			28			30	340	285			55			19
Total provision for loan and lease losses		111	149	88	92	85			(38)			(26)			26			31	440	323			117			36
Allowance for loan and lease losses - ending		$1,252		$1,263		$1,227		$1,245		$1,242			($11)			(1%)			$10			1%		$1,252		$1,242			$10			1%
Reserve for unfunded lending commitments -	$45											($48)
beginning	$93	$84	$91	$91					(52%)			($46)			(51%)	$91	$88			$3			3%
Provision for unfunded lending commitments	(1)	(48)	9	(7)		-	47			98			(1)			(100)	(47)	3			(50)			NM
Reserve for unfunded lending commitments - ending		$44	$45	$93	$84	$91			($1)			(2%)			($47)			(52%)	$44	$91			($47)			(52%)
Total allowance for credit losses - ending		$1,296		$1,308		$1,320		$1,329		$1,333			($12)			(1%)			($37)			(3%)		$1,296		$1,333			($37)			(3%)
Memo: Total allowance for credit losses by product
Commercial	$718	$757	$773	$775	$781			($39)			(5%)			($63)			(8%)	$718	$781			($63)			(8%)
Retail	578	551	547	554	552			27			5			26			5	578	552			26			5
Total allowance for credit losses	$1,296	$1,308	$1,320	$1,329	$1,333			($12)			(1%)			($37)			(3%)	$1,296	$1,333			($37)			(3%)

20

CAPITAL AND RATIOS

(in millions, except ratio data)

									AS OF														FULL YEAR
												DECEMBER 31, 2019 CHANGE							2019 Change
	Dec 31,		Sept 30,		June 30,		Mar 31,		Dec 31,
	2019	2019	2019	2019	2018		Sept 30, 2019			Dec 31, 2018	2019	2018			2018
										$	%		$		%						$	%
CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)
CET1 capital	$14,304	$14,416	$14,629	$14,442	$14,485	($112)				(1%)	($181)		(1%)
Tier 1 capital	15,874	15,549	15,762	15,574	15,325	325				2	549		4
Total capital	18,542	18,237	18,582	18,403	18,157	305				2	385		2
Risk-weighted assets	142,915	140,136	138,879	137,246	136,202	2,779				2	6,713		5
Adjusted average assets1	158,782	156,355	155,956	155,171	153,026	2,427				2	5,756		4
CET1 capital ratio	10.0%	10.3%	10.5%	10.5%	10.6%
Tier 1 capital ratio	11.1	11.1	11.3	11.3	11.3
Total capital ratio	13.0	13.0	13.4	13.4	13.3
Tier 1 leverage ratio	10.0	9.9	10.1	10.0	10.0
TANGIBLE COMMON EQUITY (PERIOD-END)
Common stockholders' equity	$20,631	$20,718	$20,884	$20,399	$19,977	($87)				-%	$654		3%	$20,631	$19,977		$654	3%
Less: Goodwill	7,044	7,044	7,040	7,040	6,923		-				-	121		2	7,044	6,923		121	2
Less: Other intangible assets	68	71	74	80	31	(3)				(4)	37		119	68	31		37	119
Add: Deferred tax liabilities2	374		373		371		370		366		1				-		8		2		374		366		8		2
Total tangible common equity	$13,893	$13,976	$14,141	$13,649	$13,389	($83)				(1%)	$504		4%	$13,893	$13,389		$504	4%
TANGIBLE COMMON EQUITY (AVERAGE)
Common stockholders' equity	$20,400	$20,533	$20,420	$19,942	$19,521	($133)				(1%)	$879		5%	$20,325	$19,645		$680	3%
Less: Goodwill	7,044	7,044	7,040	7,018	6,946		-				-	98		1	7,036	6,912		124	2
Less: Other intangible assets	69	73	80	59	32	(4)				(5)	37		116	71	14		57			NM
Add: Deferred tax liabilities2	373		372		370		368		364		1				-		9		2		371		359		12		3
Total tangible common equity	$13,660	$13,788	$13,670	$13,233	$12,907	($128)				(1%)	$753		6%	$13,589	$13,078		$511	4%
INTANGIBLE ASSETS (PERIOD-END)
Goodwill	$7,044	$7,044	$7,040	$7,040	$6,923		$-				-%	$121		2%	$7,044	$6,923		$121	2%
Other intangible assets	68	71	74	80	31	(3)				(4)	37		119	68	31		37	119
Total intangible assets	$7,112		$7,115		$7,114		$7,120		$6,954		($3)				-%		$158		2%		$7,112		$6,954		$158		2%

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

21

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

Key Performance Metrics:

Our Management uses certain key performance metrics (KPMs) to gauge our progress against strategic and operational goals, as well as to compare our performance against peers. The KPMs are referred to in our quarterly earnings materials and other financial reports filed with the Securities and Exchange Commission. The KPMs include:

• Return on average tangible common equity (ROTCE);
• Efficiency ratio;
• Operating leverage; and
• Common equity tier 1 capital ratio.

Established targets for the KPMs are based on Management-reporting results which are currently referred to by the Company as "Underlying" results. We believe that Underlying results, which exclude notable items, provide the best representation of our underlying financial progress toward the KPMs as the results exclude items that our Management does not consider indicative of our on-going financial performance. KPMs that reflect Underlying results are considered non-GAAP financial measures.

Non-GAAP Financial Measures

This document contains non-GAAP financial measures denoted as Underlying results. In historical periods, these results may have been referred to as Adjusted or Adjusted/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.

22

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

								QUARTERLY TRENDS													FULL YEAR
																4Q19 Change							2019	Change
		4Q19		3Q19		2Q19		1Q19		4Q18	3Q19			4Q18		2019	2018		2018
													$			%	$			%						$				%
Noninterest income, Underlying:
Noninterest income (GAAP)	A	$494	$493	$462	$428	$421			$1			-%	$73			17%	$1,877	$1,596		$281				18%
Less: Notable items		-		-		-		-	(5)			-	-	5			100		-	(5)		5				100
Noninterest income, Underlying (non-GAAP)	B	$494		$493		$462		$428		$426			$1			-%		$68			16%		$1,877		$1,601		$276				17%
Total revenue, Underlying:
Total revenue (GAAP)	C	$1,637	$1,638	$1,628	$1,588	$1,593			($1)			-%	$44			3%	$6,491	$6,128		$363				6%
Less: Notable items		-		-		-		-	(5)			-	-	5			100		-	(5)		5				100
Total revenue, Underlying (non-GAAP)	D	$1,637		$1,638		$1,628		$1,588		$1,598			($1)			-%		$39			2%		$6,491		$6,133		$358				6%
Noninterest expense, Underlying:
Noninterest expense (GAAP)	E	$986	$973	$951	$937	$951			$13			1%	$35			4%	$3,847	$3,619		$228				6%
Less: Notable items		37	19	7	5	45			18			95	(8)			(18)	68	54		14				26
Noninterest expense, Underlying (non-GAAP)	F	$949		$954		$944		$932		$906			($5)			(1%)		$43			5%		$3,779		$3,565		$214				6%
Pre-provision profit:
Total revenue (GAAP)	C	$1,637	$1,638	$1,628	$1,588	$1,593			($1)			-%	$44			3%	$6,491	$6,128		$363				6%
Less: Noninterest expense (GAAP)	E	986	973	951	937	951			13			1	35			4	3,847	3,619		228				6
Pre-provision profit (GAAP)		$651		$665		$677		$651		$642			($14)			(2%)		$9			1%		$2,644		$2,509		$135				5%
Pre-provision profit, Underlying:
Total revenue, Underlying (non-GAAP)	D	$1,637	$1,638	$1,628	$1,588	$1,598			($1)			-%	$39			2%	$6,491	$6,133		$358				6%
Less: Noninterest expense, Underlying (non-GAAP)	F	949	954	944	932	906			(5)			(1)	43			5	3,779	3,565		214				6
Pre-provision profit, Underlying (non-GAAP)		$688		$684		$684		$656		$692			$4			1%		($4)			(1%)		$2,712		$2,568		$144				6%
Income before income tax expense, Underlying:
Income before income tax expense (GAAP)	G	$541	$564	$580	$566	$557			($23)			(4%)	($16)			(3%)	$2,251	$2,183		$68				3%
Less: Income (expense) before income tax expense (benefit) related to notable items		(37)	(19)	(7)	(5)	(50)			(18)			(95)	13			26	(68)	(59)		(9)			(15)
Income before income tax expense, Underlying (non-GAAP)	H	$578		$583		$587		$571		$607			($5)			(1%)		($29)			(5%)		$2,319		$2,242		$77				3%
Income tax expense, Underlying:
Income tax expense (benefit) (GAAP)	I	$91	$115	$127	$127	$92			($24)			(21%)	($1)			(1%)	$460	$462		($2)			-%
Less: Income tax expense (benefit) related to notable items		(33)	(15)	(2)	(1)	(41)			(18)			(120)	8			20	(51)	(43)		(8)			(19)
Income tax expense, Underlying (non-GAAP)	J	$124		$130		$129		$128		$133			($6)			(5%)		($9)			(7%)		$511		$505		$6				1%
Net income, Underlying:
Net income (GAAP)	K	$450	$449	$453	$439	$465			$1			-%	($15)			(3%)	$1,791	$1,721		$70				4%
Add: Notable items, net of income tax expense (benefit)		4	4	5	4	9			-	-	(5)			(56)	17	16		1				6
Net income, Underlying (non-GAAP)	L	$454		$453		$458		$443		$474			$1			-%		($20)			(4%)		$1,808		$1,737		$71				4%
Net income available to common stockholders, Underlying:
Net income available to common stockholders (GAAP)	M	$427	$432	$435	$424	$450			($5)			(1%)	($23)			(5%)	$1,718	$1,692		$26				2%
Add: Notable items, net of income tax expense (benefit)		4	4	5	4	9			-	-	(5)			(56)	17	16		1				6
Net income available to common stockholders, Underlying (non-GAAP)	N	$431		$436		$440		$428		$459			($5)			(1%)		($28)			(6%)		$1,735		$1,708		$27				2%

23

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

								QUARTERLY TRENDS												FULL YEAR
																4Q19 Change							2019 Change
		4Q19		3Q19		2Q19		1Q19		4Q18	3Q19			4Q18		2019	2018		2018
													$/bps	%		$/bps	%						$/bps	%
Operating leverage:
Total revenue (GAAP)	C	$1,637	$1,638	$1,628	$1,588	$1,593			($1)			(0.14%)	$44		2.73%	$6,491	$6,128		$363			5.91%
Less: Noninterest expense (GAAP)	E	986	973	951	937	951			13			1.33	35		3.74	3,847	3,619		228			6.30
Operating leverage																(1.47%)				(1.01%)									(0.39%)
Operating leverage, Underlying:
Total revenue, Underlying (non-GAAP)	D	$1,637	$1,638	$1,628	$1,588	$1,598			($1)			(0.14%)	$39		2.41%	$6,491	$6,133		$358			5.83%
Less: Noninterest expense, Underlying (non-GAAP)	F	949	954	944	932	906			(5)			(0.49)	43		4.79	3,779	3,565		214			6.00
Operating leverage, Underlying (non-GAAP)																0.35%				(2.38%)									(0.17%)
Efficiency ratio and efficiency ratio, Underlying:
Efficiency ratio	E/C	60.28%	59.40%	58.41%	59.00%	59.69%			88 bps			59 bps		59.28%	59.06%		22 bps
Efficiency ratio, Underlying (non-GAAP)	F/D	58.02	58.22	58.02	58.67	56.70			(20) bps			132 bps		58.23	58.13		10 bps
Noninterest income as a % of total revenue, Underlying:
Noninterest income as a % of total revenue	A/C	30%	30%	28%	27%	26%			- bps			400 bps		29%	26%		300 bps
Noninterest income as a % of total revenue, Underlying	B/D	30	30	28	27	27			- bps			300 bps		29	26		300 bps
Effective income tax rate and effective income tax rate,
Underlying:
Effective income tax rate	I/G	16.76%	20.46%	21.86%	22.42%	16.45%			(370) bps			31 bps		20.43%	21.16%		(73) bps
Effective income tax rate, Underlying (non-GAAP)	J/H	21.52	22.29	21.89	22.44	21.91			(77) bps			(39) bps		22.03	22.55		(52) bps
Return on average common equity and return on average
common equity, Underlying:
Average common equity (GAAP)	O	$20,400	$20,533	$20,420	$19,942	$19,521			($133)			(1%)	$879		5%	$20,325	$19,645		$680			3%
Return on average common equity	M/O	8.30%	8.35%	8.54%	8.62%	9.16%			(5) bps			(86) bps		8.45%	8.62%		(17) bps
Return on average common equity, Underlying (non-GAAP)	N/O	8.36	8.45	8.63	8.71	9.33			(9) bps			(97) bps		8.53	8.69		(16) bps
Return on average tangible common equity and return on
average tangible common equity, Underlying:
Average common equity (GAAP)	O	$20,400	$20,533	$20,420	$19,942	$19,521			($133)			(1%)	$879		5%	$20,325	$19,645		$680			3%
Less: Average goodwill (GAAP)		7,044	7,044	7,040	7,018	6,946			-	-	98		1	7,036	6,912		124			2
Less: Average other intangibles (GAAP)		69	73	80	59	32			(4)			(5)	37		116	71	14		57			NM
Add: Average deferred tax liabilities related to goodwill (GAAP)		373	372	370	368	364			1			-	9		2	371	359		12			3
Average tangible common equity	P	$13,660		$13,788		$13,670		$13,233		$12,907			($128)			(1%)		$753		6%		$13,589		$13,078		$511			4%
Return on average tangible common equity	M/P
12.39%		12.44%		12.75%		13.00%		13.85%			(5) bps				(146) bps				12.64%		12.94%		(30) bps
Return on average tangible common equity, Underlying (non-GAAP)	N/P	12.49	12.58	12.89	13.12	14.11			(9) bps			(162) bps		12.76	13.06		(30) bps
Return on average total assets and return on average total
assets, Underlying:
Average total assets (GAAP)	Q	$164,646	$162,110	$161,489	$160,415	$157,732			$2,536			2%	$6,914		4%	$162,176	$154,553		$7,623			5%
Return on average total assets	K/Q	1.08%	1.10%	1.13%	1.11%	1.17%			(2) bps			(9) bps		1.10%	1.11%		(1) bps
Return on average total assets, Underlying (non-GAAP)	L/Q	1.09	1.11	1.14	1.12	1.19			(2) bps			(10) bps		1.11	1.12		(1) bps

24

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

									QUARTERLY TRENDS											FULL YEAR
															4Q19 Change								2019 Change
			4Q19		3Q19		2Q19		1Q19		4Q18	3Q19				4Q18			2019	2018		2018
													$/bps	%		$/bps	%						$/bps	%
	Return on average total tangible
	assets and return on average total
	tangible assets, Underlying:
	Average total assets (GAAP)	Q	$164,646	$162,110	$161,489	$160,415	$157,732		$2,536	2%	$6,914	4%	$162,176	$154,553		$7,623			5%
	Less: Average goodwill (GAAP)		7,044	7,044	7,040	7,018	6,946		-		-	98	1	7,036	6,912		124			2
	Less: Average other intangibles
	(GAAP)		69	73	80	59	32		(4)	(5)	37	116	71	14		57			NM
	Add: Average deferred tax liabilities															9
	related to goodwill (GAAP)		373	372	370	368	364		1		-	2	371	359		12			3
	Average tangible assets	R	$157,906		$155,365		$154,739		$153,706		$151,118		$2,541	2%		$6,788	4%		$155,440		$147,986		$7,454			5%
	Return on average total tangible
	assets	K/R	1.13%	1.15%	1.17%	1.16%	1.22%		(2) bps				(9) bps			1.15%	1.16%		(1) bps
	Return on average total tangible																(10) bps
	assets, Underlying (non-GAAP)	L/R	1.14	1.16	1.19	1.17	1.24		(2) bps						1.16	1.17		(1) bps
	Tangible book value per common share:
	Common shares - at period-end												(10,792,442)
	(GAAP)	S	433,121,083	443,913,525	457,903,826	461,116,723	466,007,984		(2%)	(32,886,901)	(7%)	433,121,083	466,007,984		(32,886,901)			(7%)
	Common stockholders' equity (GAAP)		$20,631	$20,718	$20,884	$20,399	$19,977		($87)		-	$654	3	$20,631	$19,977		$654			3
	Less: Goodwill (GAAP)		7,044	7,044	7,040	7,040	6,923		-		-	121	2	7,044	6,923		121			2
	Less: Other intangible assets (GAAP)		68	71	74	80	31		(3)	(4)	37	119	68	31		37			119
	Add: Deferred tax liabilities related															8
	to goodwill (GAAP)		374	373	371	370	366		1		-	2	374	366		8			2
	Tangible common equity	T	$13,893	$13,976	$14,141	$13,649	$13,389		($83)	(1%)	$504	4%	$13,893	$13,389		$504			4%
	Tangible book value per common
												$0.60
	share	T/S	$32.08	$31.48	$30.88	$29.60	$28.73		2%	$3.35	12%	$32.08	$28.73		$3.35			12%
	Net income per average common
	share - basic and diluted and net
	income per average common share -
	basic and diluted, Underlying:
	Average common shares outstanding -												(11,019,381)
	basic (GAAP)	U	434,684,606	445,703,987	458,154,335	460,713,172	467,338,825		(2%)	(32,654,219)	(7%)	449,731,453	478,822,072		(29,090,619)			(6%)
	Average common shares outstanding -												(10,633,766)
	diluted (GAAP)	V	436,500,829	447,134,595	459,304,224	462,520,680	469,103,134		(2)	(32,602,305)	(7)	451,213,701	480,430,741		(29,217,040)			(6)
	Net income per average common												$0.01
	share - basic (GAAP)	M/U	$0.98	$0.97	$0.95	$0.92	$0.96		1	$0.02	2	$3.82	$3.54		$0.28			8
	Net income per average common												0.01
	share - diluted (GAAP)	M/V	0.98	0.97	0.95	0.92	0.96		1	0.02	2	3.81	3.52		0.29			8
	Net income per average common												0.01
	share - basic, Underlying (non-GAAP)	N/U	0.99	0.98	0.96	0.93	0.98		1	0.01	1	3.86	3.57		0.29			8
	Net income per average common
	share - diluted, Underlying (non-												0.01
	GAAP)	N/V	0.99	0.98	0.96	0.93	0.98		1	0.01	1	3.84	3.56		0.28			8
	Dividend payout ratio and dividend
	payout ratio, Underlying:
	Cash dividends declared and paid per												$-
	common share	W	$0.36	$0.36	$0.32	$0.32	$0.27			-%	$0.09	33%	$1.36	$0.98		$0.38			39%
	Dividend payout ratio	W/(M/U)	37%	37%	34%	35%	28%		- bps				900 bps			36%	28%		800 bps
	Dividend payout ratio, Underlying												(100) bps
	(non-GAAP)	W/(N/U)	36	37	33	34	27					900 bps			35	27		800 bps

25

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

							QUARTERLY TRENDS														FULL YEAR
															4Q19 Change											2019 Change
	4Q19		3Q19		2Q19		1Q19		4Q18	3Q19				4Q18		2019	2018			2018
								$				%	$				%							$/bps	%
Mortgage banking fees, Underlying:
Mortgage banking fees (GAAP)	$80	$117	$62	$43	$51			($37)			(32%)			$29			57%	$302	$152			$150		99%
Less: Notable items	-		-		-		-	(4)			-	-			4			100		-	(4)			4		100
Mortgage banking fees, Underlying (non-GAAP)	$80		$117		$62		$43		$55			($37)			(32%)			$25			45%		$302		$156			$146		94%
Other income, Underlying:
Other income (GAAP)	$16	$20	$28	$25	$15			($4)			(20%)			$1			7%	$89	$64			$25		39%
Less: Notable items	-		-		-		-	(1)			-	-			1			100		-	(1)			1		100
Other income, Underlying (non-GAAP)	$16		$20		$28		$25		$16			($4)			(20%)			$-		-%		$89		$65			$24		37%
Salaries and employee benefits, Underlying:
Salaries and employee benefits (GAAP)	$502	$508	$507	$509	$483			($6)			(1%)			$19			4%	$2,026	$1,880			$146		8%
Less: Notable items	6	5	2	1	6			1			20			-	-	14	11			3		27
Salaries and employee benefits, Underlying (non-GAAP)	$496		$503		$505		$508		$477			($7)			(1%)			$19			4%		$2,012		$1,869			$143		8%
Equipment and software expense, Underlying1:
Equipment and software expense (GAAP)	$133	$130	$126	$125	$124			$3			2%			$9			7%	$514	$464			$50		11%
Less: Notable items	3		-		-		-	3			3			100			-	-	3	3			-	-
Equipment and software expense, Underlying (non-GAAP)	$130		$130		$126		$125		$121			$-		-%			$9			7%		$511		$461			$50		11%
Outside services, Underlying:
Outside services (GAAP)	$142	$128	$118	$110	$135			$14			11%			$7			5%	$498	$447			$51		11%
Less: Notable items	20	14	5	4	19			6			43			1			5	43	20			23		115
Outside services, Underlying (non-GAAP)	$122		$114		$113		$106		$116			$8			7%			$6			5%		$455		$427			$28		7%
Occupancy, Underlying:
Occupancy (GAAP)	$88	$80	$82	$83	$92			$8			10%			($4)			(4%)	$333	$333			$-	-%
Less: Notable items	8		-		-		-	16			8			100			(8)			(50)	8	16			(8)		(50)
Occupancy, Underlying (non-GAAP)	$80		$80		$82		$83		$76			$-		-%			$4			5%		$325		$317			$8		3%
Other operating expense, Underlying:
Other operating expense (GAAP)	$121	$127	$118	$110	$117			($6)			(5%)			$4			3%	$476	$495			($19)		(4%)
Less: Notable items	-		-		-		-	1			-	-			(1)			(100)		-	4			(4)		(100)
Other operating expense, Underlying (non-GAAP)	$121		$127		$118		$110		$116			($6)			(5%)			$5			4%		$476		$491			($15)		(3%)

1 Beginning in the first quarter of 2019, we combined our presentation of equipment expense and amortization of software into equipment and software expense. Prior periods have been adjusted to conform with the current period presentation.

26

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

				FOURTH QUARTER 2019					THIRD QUARTER 2019						SECOND QUARTER 2019
		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	A	$209	$231	$10		$450	$251	$196	$2	$449	$213	$216	$24		$453
Less: Preferred stock dividends		-		-	23		23		-		-	17	17		-		-	18		18
Net income (loss) available to common	B	$209		$231		($13)		$427		$251		$196		($15)		$432		$213		$216		$6		$435
stockholders
Return on average total tangible assets:
Average total assets (GAAP)		$68,069	$56,407	$40,170		$164,646	$66,365	$55,614	$40,131	$162,110	$65,485	$56,135	$39,869		$161,489
Less: Average goodwill (GAAP)		122	46	6,876		7,044	122	46	6,876	7,044	119	45	6,876		7,040
Average other intangibles (GAAP)		63	6		-	69	66	7		-	73	73	7		-	80
Add: Average deferred tax liabilities		1		1		371		373		1		1		370		372		-		-		370		370
related to goodwill (GAAP)
Average tangible assets	C	$67,885	$56,356	$33,665		$157,906	$66,178	$55,562	$33,625	$155,365	$65,293	$56,083	$33,363		$154,739
Return on average total tangible assets	A/C	1.22%		1.63%		NM		1.13%		1.50%		1.40%		NM		1.15%		1.31%		1.54%		NM		1.17%
Efficiency ratio:
Noninterest expense (GAAP)	D	$718	$219	$49		$986	$718	$213	$42	$973	$715	$217	$19		$951
Net interest income (GAAP)		796	363	(16)		1,143	799	360	(14)	1,145	799	371	(4)		1,166
Noninterest income (GAAP)		296	175	23		494	336	133	24	493	277	149	36		462
Total revenue (GAAP)	E	$1,092		$538		$7		$1,637		$1,135		$493		$10		$1,638		$1,076		$520		$32		$1,628
Efficiency ratio	D/E	65.74%		40.60%		NM		60.28%		63.28%		43.35%		NM		59.40%		66.43%		41.58%		NM		58.41%

				FIRST QUARTER 2019						FOURTH QUARTER 2018
		Consumer		Commercial						Consumer		Commercial
		Banking		Banking		Other		Consolidated		Banking		Banking		Other	Consolidated
Net income (loss) available to common
stockholders:
Net income	A	$202	$227	$10	$439	$193	$241	$31		$465
Less: Preferred stock dividends		-		-	15	15		-		-	15		15
Net income (loss) available to common	B	$202		$227		($5)		$424		$193		$241		$16		$450
stockholders
Return on average total tangible assets:
Average total assets (GAAP)		$65,007	$55,630	$39,778	$160,415	$64,187	$53,970	$39,575		$157,732
Less: Average goodwill (GAAP)		119	23	6,876	7,018	59	11	6,876		6,946
Average other intangibles (GAAP)		55	4		-	59	30	2		-	32
Add: Average deferred tax liabilities		-		-	368	368		-		-	364		364
related to goodwill (GAAP)
Average tangible assets	C	$64,833		$55,603		$33,270		$153,706		$64,098		$53,957		$33,063		$151,118
Return on average total tangible assets	A/C	1.26%		1.66%		NM		1.16%		1.19%		1.78%		NM		1.22%
Efficiency ratio:
Noninterest expense (GAAP)	D	$700	$209	$28	$937	$723	$203	$25		$951
Net interest income (GAAP)		788	372		-	1,160	796	384	(8)		1,172
Noninterest income (GAAP)		247	150	31	428	265	140	16		421
Total revenue (GAAP)	E	$1,035		$522		$31		$1,588		$1,061		$524		$8		$1,593
Efficiency ratio	D/E	67.62%		40.11%		NM		59.00%		68.22%		38.73%		NM		59.69%

27

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

FULL YEAR

			2019						2018
		Consumer		Commercial					Consumer		Commercial
		Banking		Banking	Other		Consolidated		Banking		Banking	Other		Consolidated
Net income (loss) available to common stockholders:
Net income	A	$875	$870			$46	$1,791	$767	$927			$27	$1,721
Less: Preferred stock dividends		-		-	73	73		-		-	29	29
Net income (loss) available to common stockholders	B	$875		$870			($27)		$1,718		$767		$927			($2)		$1,692
Return on average total tangible assets:
Average total assets (GAAP)		$66,240	$55,947			$39,989	$162,176	$62,444	$52,362			$39,747	$154,553
Less: Average goodwill (GAAP)		120	40			6,876	7,036	25	11			6,876	6,912
Average other intangibles (GAAP)		65	6			-	71	12	2			-	14
Add: Average deferred tax liabilities related to goodwill (GAAP)		-		-	371	371		-		-	359	359
Average tangible assets	C	$66,055		$55,901			$33,484		$155,440		$62,407		$52,349			$33,230		$147,986
Return on average total tangible assets	A/C	1.32%		1.56%			NM		1.15%		1.23%		1.77%			NM		1.16%
Efficiency ratio:
Noninterest expense (GAAP)	D	$2,851	$858			$138	$3,847	$2,723	$813			$83	$3,619
Net interest income (GAAP)		3,182	1,466			(34)	4,614	3,064	1,497			(29)	4,532
Noninterest income (GAAP)		1,156	607			114	1,877	973	545			78	1,596
Total revenue (GAAP)	E	$4,338		$2,073			$80		$6,491		$4,037		$2,042			$49		$6,128
Efficiency ratio	D/E	65.72%		41.38%			NM		59.28%		67.47%		39.80%			NM		59.06%

28