v2.4.0.6
Preferred Stock (Tables)
 12 Months Ended
Dec. 31, 2011
Preferred Stock (Tables) [Abstract]  
Detail of Preferred Stock
              
              
       December 31,
       2011 2010
        LiquidationShares  LiquidationShares
        preferenceauthorized  preferenceauthorized
  per shareand designated  per shareand designated
DEP Shares       
Dividend Equalization Preferred Shares$ 10 97,000 $ 10 97,000
Series A        
Non-Cumulative Perpetual Preferred Stock  - -   100,000 25,001
Series B        
Non-Cumulative Perpetual Preferred Stock  - -   100,000 17,501
Series G        
7.25% Class A Preferred Stock  15,000 50,000   15,000 50,000
Series H       
Floating Class A Preferred Stock  20,000 50,000   20,000 50,000
Series I        
5.80% Fixed to Floating Class A Preferred Stock  100,000 25,010   100,000 25,010
Series J        
8.00% Non-Cumulative Perpetual Class A Preferred Stock  1,000 2,300,000   1,000 2,300,000
Series K        
7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock  1,000 3,500,000   1,000 3,500,000
Series L       
7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock  1,000 4,025,000   1,000 4,025,000
 Total   10,047,010    10,089,512
              

                  
                  
       December 31, 2011 December 31, 2010
       Shares     Shares    
 issued and Carrying  issued and  Carrying 
(in millions, except shares)outstandingPar valuevalueDiscount outstanding Par valuevalueDiscount
DEP Shares           
Dividend Equalization Preferred Shares 96,546$ - - -  96,546$ - - -
Series I (1)           
5.80% Fixed to Floating Class A Preferred Stock 25,010  2,501 2,501 -  -  - - -
Series J (1)           
8.00% Non-Cumulative Perpetual Class A            
 Preferred Stock 2,150,375  2,150 1,995 155  2,150,375  2,150 1,995 155
Series K (1)           
7.98% Fixed-to-Floating Non-Cumulative            
 Perpetual Class A Preferred Stock 3,352,000  3,352 2,876 476  3,352,000  3,352 2,876 476
Series L (1)           
7.50% Non-Cumulative Perpetual            
 Convertible Class A Preferred Stock 3,968,000  3,968 3,200 768  3,968,000  3,968 3,200 768
 Total 9,591,931$ 11,971 10,572 1,399  9,566,921$ 9,470 8,071 1,399
                  

  • Preferred shares qualify as Tier 1 capital.

 
Detail of Employee Stock Ownership Plan Preferred Stock
                 
                 
       Shares issued and outstanding  Carrying value Adjustable
       December 31,  December 31, dividend rate
(in millions, except shares)20112010  20112010 MinimumMaximum
ESOP Preferred Stock           
$1,000 liquidation preference per share          
 2011     370,280 - $ 370 -  9.00% 10.00
 2010     231,361 287,161   232 287  9.50  10.50
 2008     89,154 104,854   89 105  10.50  11.50
 2007     68,414 82,994   69 83  10.75  11.75
 2006     46,112 58,632   46 59  10.75  11.75
 2005     30,092 40,892   30 41  9.75  10.75
 2004     17,115 26,815   17 27  8.50  9.50
 2003     6,231 13,591   6 13  8.50  9.50
 2002     - 3,443   - 3  10.50  11.50
Total ESOP Preferred Stock (1) 858,759 618,382 $ 859 618    
Unearned ESOP shares (2)   $ (926) (663)    
                 
                 

  • At December 31, 2011 and December 31, 2010, additional paid-in capital included $67 million and $45 million, respectively, related to preferred stock.       
  • We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released.