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Significant Group Concentrations of Credit Risk
 12 Months Ended
Dec. 31, 2023
Significant Group Concentrations of Credit Risk [Abstract]  
Significant Group Concentrations of Credit Risk SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK
Concentrations of credit risk may exist when a number of borrowers are engaged in similar activities, or activities in the same geographic region, and have similar economic characteristics that would cause them to be similarly impacted by changes in economic or other conditions. Concentrations of both on-balance sheet and off-balance sheet credit risk are controlled and monitored as part of credit policies. The Corporation is a regional financial services holding company with a geographic concentration of its on-balance-sheet and off-balance-sheet activities in Michigan, California and Texas.
At December 31, 2023, the Corporation's concentration of credit risk with the commercial real estate industry, which includes a portfolio of real estate construction and commercial mortgage loans, represented 36 percent of total loans. The following table summarizes the Corporation's commercial real estate loan portfolio by loan category.
(in millions)  
December 3120232022
Real estate construction loans:
Commercial Real Estate business line (a)$4,570 $2,505 
Other business lines (b)513 600 
Total real estate construction loans5,083 3,105 
Commercial mortgage loans:
Commercial Real Estate business line (a)4,727 4,681 
Other business lines (b)8,959 8,625 
Total commercial mortgage loans13,686 13,306 
Total commercial real estate loans$18,769 $16,411 
Total unused commitments on commercial real estate loans$4,382 $6,602 
(a)Primarily loans to real estate developers.
(b)Primarily loans secured by owner-occupied real estate.
The Corporation also has a concentration of credit risk with the automotive industry, which represented 14 percent of total loans at December 31, 2023. Outstanding loans, included in commercial loans on the Consolidated Balance Sheets, and total exposure (outstanding loans, unused commitments and standby letters of credit) to companies related to the automotive industry were as follows:
(in millions)  
December 3120232022
Automotive loans:
Production$848 $1,068 
Dealer6,191 5,367 
Total automotive loans$7,039 $6,435 
Total automotive exposure:
Production$1,744 $2,028 
Dealer10,418 10,910 
Total automotive exposure$12,162 $12,938