Non-GAAP Adjusted After-tax Net Income, which is generally used by the investment community to value common stocks, was used when this amount was disclosed in the company's earnings release, and it excludes Special, Unusual Items which are significant in amount relative to Reported GAAP Net Income.
How did these 9 Big US National/Regional Banks do on the earnings front in 2012? Just fantastic.
The Total Non-GAAP Adjusted After-tax Net Income of these 9 US Big National/Regional Banks was $19.3 bil in annual 2012, up an exceptionally strong 29% over 2011.
The two main drivers of this extremely robust total earnings growth of 29% in 2012 were SunTrust Banks, which benefited from substantially higher Gains on Sales of Securities in 2012, and Regions Financial, which benefited from substantially lower Provisions for Loan Losses in 2012.
Below here is the Non-GAAP Adjusted After-tax Net Income for both annual 2012 and 2011 for each of these 9 US Big National/Regional Bank Corps:
| Annual | Annual | ||||
| 2012 | 2011 | ||||
| Non-GAAP | Non-GAAP | ||||
| Adjusted | Adjusted | Increase | Increase | ||
| Net | Net | (Decrease) | (Decrease) | ||
| Company | Income | Income | Amount | % | |
| mils of $s | mils of $s | mils of $s | |||
| US Big National/Regional Banks | |||||
| PNC Financial (PA) | 3,682 | 3,399 | 283 | 8% | |
| Capital One Financial (VA) | 3,734 | 3,253 | 481 | 15% | |
| Bank NY Mellon (NY) | 2,427 | 2,516 | (89) | -4% | |
| SunTrust Banks (GA) | 1,931 | 495 | 1,436 | 290% | |
| BB&T (NC) | 1,916 | 1,289 | 627 | 49% | |
| State Street Corp (MA) | 1,898 | 1,852 | 46 | 2% | |
| Fifth Third Bancorp (OH) | 1,541 | 1,094 | 447 | 41% | |
| Regions Financial (AL) | 1,088 | 211 | 877 | 416% | |
| M&T Bank (NY) | 1,073 | 884 | 189 | 21% | |
| Total all 9 | 19,290 | 14,993 | 4,297 | 29% |
