Loans and Leases (Tables)

12 Months Ended

Dec. 31, 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 December 31:

($ in millions)	2020		2019
Loans and leases held for sale:
Commercial and industrial loans	$	230	135
Commercial mortgage loans	7		1
Commercial leases	39		—
Residential mortgage loans	4,465		1,264
Total loans and leases held for sale	$	4,741	1,400
Portfolio loans and leases:
Commercial and industrial loans(a)	$	49,665	50,542
Commercial mortgage loans	10,602		10,963
Commercial construction loans	5,815		5,090
Commercial leases	2,915		3,363
Total commercial loans and leases	68,997		69,958
Residential mortgage loans(b)	15,928		16,724
Home equity	5,183		6,083
Indirect secured consumer loans	13,653		11,538
Credit card	2,007		2,532
Other consumer loans	3,014		2,723
Total consumer loans	39,785		39,600
Total portfolio loans and leases	$	108,782	109,558

(a)Includes $4.8 billion, as of December 31, 2020, related to the SBA’s Paycheck Protection Program.

(b)Includes $39, as of December 31, 2020, of residential mortgage loans previously sold to GNMA 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 17 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 and net charge-offs (recoveries) as of and for the years ended December 31:

	Carrying Value			90 Days Past Due and Still Accruing		Net Charge-Offs (Recoveries)
($ in millions)	2020		2019	2020	2019	2020	2019
Commercial and industrial loans	$	49,895	50,677	39	11	198	103
Commercial mortgage loans	10,609		10,964	8	15	45	(2)
Commercial construction loans	5,815		5,090	—	—	—	—
Commercial leases	2,954		3,363	1	—	23	7
Residential mortgage loans	20,393		17,988	70	50	2	4
Home equity	5,183		6,083	2	1	5	18
Indirect secured consumer loans	13,653		11,538	10	10	32	50
Credit card	2,007		2,532	31	42	126	134
Other consumer loans	3,014		2,723	2	1	40	55
Total loans and leases	$	113,523	110,958	163	130	471	369
Less: Loans and leases held for sale	$	4,741	1,400
Total portfolio loans and leases	$	108,782	109,558

Investment in Lease Financing

The following table presents the components of the net investment in leases as of December 31:

($ in millions)(a)	2020		2019
Net investment in direct financing leases:
Lease payment receivable (present value)	$	1,400	2,196
Unguaranteed residual assets (present value)	181		220
Net discount on acquired leases	(1)		(7)
Net investment in sales-type leases:
Lease payment receivable (present value)	976		510
Unguaranteed residual assets (present value)	36		15

(a)Excludes $323 and $429 of leveraged leases at December 31, 2020 and 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 2021 through 2025 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of December 31, 2020 ($ in millions)	Direct Financing Leases		Sales-Type Leases
2021	$	470	297
2022	360		253
2023	227		183
2024	161		132
2025	115		69
Thereafter	164		129
Total undiscounted cash flows	$	1,497	1,063
Less: Difference between undiscounted cash flows and discounted cash flows	97		87
Present value of lease payments (recognized as lease receivables)	$	1,400	976