Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Loans and Leases Classified by Primary Purpose

The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of:

($ in millions)	June 30, 2020		December 31, 2019
Loans and leases held for sale:
Commercial and industrial loans	$	69	135
Commercial mortgage loans	3		1
Residential mortgage loans	840		1,264
Total loans and leases held for sale	$	912	1,400
Portfolio loans and leases:
Commercial and industrial loans(a)	$	55,661	50,542
Commercial mortgage loans	11,233		10,963
Commercial construction loans	5,479		5,090
Commercial leases	3,061		3,363
Total commercial loans and leases	$	75,434	69,958
Residential mortgage loans(b)	$	16,457	16,724
Home equity	5,681		6,083
Indirect secured consumer loans	12,395		11,538
Credit card	2,211		2,532
Other consumer loans	2,875		2,723
Total consumer loans	$	39,619	39,600
Total portfolio loans and leases	$	115,053	109,558

(a)Includes $5.2 billion, as of June 30, 2020, related to the SBA’s Paycheck Protection Program established under the CARES Act on March 27, 2020.

(b)Includes $82 million, as of June 30, 2020, of GNMA loans for which the Bancorp is deemed to have regained effective control over under ASC Topic 860, but did not exercise its option to repurchase. Refer to Note 16 for further information.

Total Loans and Leases Owned by the Bancorp

The following table presents a summary of the total loans and leases owned by the Bancorp as of:

	Carrying Value			90 Days Past Due and Still Accruing
($ in millions)	June 30, 2020		December 31, 2019	June 30, 2020	December 31, 2019
Commercial and industrial loans	$	55,730	50,677	10	11
Commercial mortgage loans	11,236		10,964	23	15
Commercial construction loans	5,479		5,090	—	—
Commercial leases	3,061		3,363	—	—
Residential mortgage loans	17,297		17,988	54	50
Home equity	5,681		6,083	—	1
Indirect secured consumer loans	12,395		11,538	12	10
Credit card	2,211		2,532	36	42
Other consumer loans	2,875		2,723	1	1
Total loans and leases	$	115,965	110,958	136	130
Less: Loans and leases held for sale	$	912	1,400
Total portfolio loans and leases	$	115,053	109,558

The following table presents a summary of net charge-offs (recoveries):

	For the three months ended June 30,			For the six months ended June 30,
($ in millions)	2020		2019	2020	2019
Commercial and industrial loans	$	65	20	115	38
Commercial mortgage loans	2		—	4	(1)
Commercial leases	11		3	16	3
Residential mortgage loans	1		(1)	2	—
Home equity	1		3	4	6
Indirect secured consumer loans	7		7	20	20
Credit card	34		35	71	68
Other consumer loans	9		11	20	22
Total net charge-offs	$	130	78	252	156

Investment in Lease Financing

The following table presents the components of the net investment in leases as of:

($ in millions)(a)	June 30, 2020		December 31, 2019
Net investment in direct financing leases:
Lease payment receivable (present value)	$	1,788	2,196
Unguaranteed residual assets (present value)	206		220
Net discount on acquired leases	(2)		(7)
Net investment in sales-type leases:
Lease payment receivable (present value)	663		510
Unguaranteed residual assets (present value)	24		15

(a)Excludes $382 and $429 of leveraged leases at June 30, 2020 and December 31, 2019, respectively.

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents undiscounted cash flows for both direct financing and sales-type leases for the remainder of 2020 through 2025 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of June 30, 2020 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2020	$	320	84
2021	502		181
2022	409		154
2023	234		106
2024	179		87
2025	114		44
Thereafter	152		78
Total undiscounted cash flows	$	1,910	734
Less: Difference between undiscounted cash flows and discounted cash flows	122		71
Present value of lease payments (recognized as lease receivables)	$	1,788	663