Credit Quality and the Allowance for Loan and Lease Losses (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Summary of Transactions in the ALLL

Allowance for Loan and Lease Losses

The following tables summarize transactions in the ALLL by portfolio segment:

For the three months ended June 30, 2021 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,329	247	632	2,208
Losses charged off(a)	(45)		(1)	(57)	(103)
Recoveries of losses previously charged off(a)	28		1	30	59
Benefit from loan and lease losses	(88)		(12)	(31)	(131)
Balance, end of period	$	1,224	235	574	2,033

(a)The Bancorp recorded $8 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

For the three months ended June 30, 2020 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,313	260	775	2,348
Losses charged off(a)	(81)		(2)	(80)	(163)
Recoveries of losses previously charged off(a)	3		1	29	33
Provision for loan and lease losses(b)	267		68	143	478
Balance, end of period	$	1,502	327	867	2,696

(a)The Bancorp recorded $9 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

(b)Includes $1 in Residential Mortgage related to the initial recognition of an ALLL on PCD loans.

For the six months ended June 30, 2021 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,456	294	703	2,453
Losses charged off(a)	(81)		(2)	(128)	(211)
Recoveries of losses previously charged off(a)	35		3	58	96
Benefit from loan and lease losses	(186)		(60)	(59)	(305)
Balance, end of period	$	1,224	235	574	2,033

(a)The Bancorp recorded $18 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

For the six months ended June 30, 2020 ($ in millions)	Commercial		Residential Mortgage	Consumer	Unallocated	Total
Balance, beginning of period	$	710	73	298	121	1,202
Impact of adoption of ASU 2016-13(a)	160		196	408	(121)	643
Losses charged off(b)	(142)		(4)	(176)	—	(322)
Recoveries of losses previously charged off(b)	7		2	61	—	70
Provision for loan and lease losses	767		60	276	—	1,103
Balance, end of period	$	1,502	327	867	—	2,696

(a)Includes $31, $2 and $1 in Commercial, Residential Mortgage and Consumer, respectively, related to the initial recognition of an ALLL on PCD loans.

(b)The Bancorp recorded $22 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

Summary of the ALLL and Related Loans and Leases Classified by Portfolio Segment

The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:

As of June 30, 2021 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	101	55	38	194
Collectively evaluated	1,123		180	536	1,839
Total ALLL	$	1,224	235	574	2,033
Portfolio loans and leases:(b)
Individually evaluated	$	629	539	295	1,463
Collectively evaluated	66,391		15,441	24,287	106,119
Total portfolio loans and leases	$	67,020	15,980	24,582	107,582

(a)Includes $3 related to commercial leveraged leases at June 30, 2021.

(b)Excludes $151 of residential mortgage loans measured at fair value and includes $311 of commercial leveraged leases, net of unearned income at June 30, 2021.

As of December 31, 2020 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	114	68	43	225
Collectively evaluated	1,342		226	660	2,228
Total ALLL	$	1,456	294	703	2,453
Portfolio loans and leases:(b)
Individually evaluated	$	962	628	273	1,863
Collectively evaluated	67,701		15,073	23,569	106,343
Purchased credit deteriorated(c)	334		66	15	415
Total portfolio loans and leases	$	68,997	15,767	23,857	108,621

(a)Includes $3 related to commercial leveraged leases at December 31, 2020.

(b)Excludes $161 of residential mortgage loans measured at fair value and includes $323 of commercial leveraged leases, net of unearned income at December 31, 2020.

(c)Includes $39, as of December 31, 2020, of residential mortgage loans previously sold to GNMA for which the Bancorp was deemed to have regained effective control over under ASC Topic 860, but did not exercise its option to repurchase. Refer to Note 14 for further information.

Loan and Leases Balances by Credit Quality Indicator

The following tables present the amortized cost basis of the Bancorp’s commercial portfolio segment, by class and vintage, disaggregated by credit risk grade:

As of June 30, 2021 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2021		2020	2019	2018	2017	Prior			Total
Commercial and industrial loans:
Pass	$	3,164	4,183	1,733	743	466	928	32,500	—	43,717
Special mention	17		33	35	26	30	21	1,210	—	1,372
Substandard	26		92	59	119	70	109	2,000	—	2,475
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial and industrial loans	$	3,207	4,308	1,827	888	566	1,058	35,710	—	47,564
Commercial mortgage owner-occupied loans:
Pass	$	517	927	596	358	246	513	1,140	—	4,297
Special mention	4		30	40	2	—	22	85	—	183
Substandard	38		67	11	25	2	27	107	—	277
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner- occupied loans	$	559	1,024	647	385	248	562	1,332	—	4,757
Commercial mortgage nonowner-occupied loans:
Pass	$	205	736	627	381	207	459	1,598	—	4,213
Special mention	31		120	57	61	8	—	338	—	615
Substandard	31		195	26	64	3	11	432	—	762
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	267	1,051	710	506	218	470	2,368	—	5,590
Commercial construction loans:
Pass	$	28	73	47	27	—	11	4,715	—	4,901
Special mention	—		66	—	—	—	—	442	—	508
Substandard	15		—	—	—	—	—	447	—	462
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	43	139	47	27	—	11	5,604	—	5,871
Commercial leases:
Pass	$	732	511	350	276	297	989	—	—	3,155
Special mention	1		7	7	5	—	4	—	—	24
Substandard	10		3	7	12	16	11	—	—	59
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	743	521	364	293	313	1,004	—	—	3,238
Total commercial loans and leases:
Pass	$	4,646	6,430	3,353	1,785	1,216	2,900	39,953	—	60,283
Special mention	53		256	139	94	38	47	2,075	—	2,702
Substandard	120		357	103	220	91	158	2,986	—	4,035
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial loans and leases	$	4,819	7,043	3,595	2,099	1,345	3,105	45,014	—	67,020

As of December 31, 2020 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2020		2019	2018	2017	2016	Prior			Total
Commercial and industrial loans:
Pass	$	7,042	2,144	1,114	700	471	703	31,657	—	43,831
Special mention	66		46	167	46	5	21	2,317	—	2,668
Substandard	119		80	107	60	39	104	2,639	—	3,148
Doubtful	—		2	9	—	—	—	7	—	18
Total commercial and industrial loans	$	7,227	2,272	1,397	806	515	828	36,620	—	49,665
Commercial mortgage owner-occupied loans:
Pass	$	1,047	655	416	288	249	420	1,025	—	4,100
Special mention	58		12	16	7	2	17	64	—	176
Substandard	211		17	33	7	13	30	88	—	399
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner-occupied loans	$	1,316	684	465	302	264	467	1,177	—	4,675
Commercial mortgage nonowner-occupied loans:
Pass	$	902	679	548	247	223	341	1,626	—	4,566
Special mention	252		68	17	8	36	9	416	—	806
Substandard	149		3	49	14	2	25	301	—	543
Doubtful	12		—	—	—	—	—	—	—	12
Total commercial mortgage nonowner-occupied loans	$	1,315	750	614	269	261	375	2,343	—	5,927
Commercial construction loans:
Pass	$	98	49	27	—	9	12	4,721	—	4,916
Special mention	67		—	—	—	—	—	591	—	658
Substandard	8		—	—	—	—	—	233	—	241
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	173	49	27	—	9	12	5,545	—	5,815
Commercial leases:
Pass	$	622	374	315	369	314	824	—	—	2,818
Special mention	5		16	5	—	—	—	—	—	26
Substandard	7		4	16	21	6	17	—	—	71
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	634	394	336	390	320	841	—	—	2,915
Total commercial loans and leases:
Pass	$	9,711	3,901	2,420	1,604	1,266	2,300	39,029	—	60,231
Special mention	448		142	205	61	43	47	3,388	—	4,334
Substandard	494		104	205	102	60	176	3,261	—	4,402
Doubtful	12		2	9	—	—	—	7	—	30
Total commercial loans and leases	$	10,665	4,149	2,839	1,767	1,369	2,523	45,685	—	68,997

The following tables present the amortized cost basis of the Bancorp’s residential mortgage and consumer portfolio segments, by class and vintage, disaggregated by both age and performing versus nonperforming status:

As of June 30, 2021 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2021		2020	2019	2018	2017	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	3,080	3,840	1,696	574	1,226	5,439	—	—	15,855
30-89 days past due	1		2	1	—	2	13	—	—	19
90 days or more past due	—		3	4	2	5	43	—	—	57
Total performing	3,081		3,845	1,701	576	1,233	5,495	—	—	15,931
Nonperforming	—		—	—	1	3	45	—	—	49
Total residential mortgage loans(b)	$	3,081	3,845	1,701	577	1,236	5,540	—	—	15,980
Home equity:
Performing:
Current	$	1	9	18	23	3	134	4,243	8	4,439
30-89 days past due	—		—	—	—	—	3	17	—	20
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	1		9	18	23	3	138	4,260	8	4,460
Nonperforming	—		—	—	—	—	10	74	1	85
Total home equity	$	1	9	18	23	3	148	4,334	9	4,545
Indirect secured consumer loans:
Performing:
Current	$	4,691	5,268	2,930	1,252	593	337	—	—	15,071
30-89 days past due	5		17	20	15	7	4	—	—	68
90 days or more past due	—		1	1	1	1	—	—	—	4
Total performing	4,696		5,286	2,951	1,268	601	341	—	—	15,143
Nonperforming	—		29	6	7	4	3	—	—	49
Total indirect secured consumer loans	$	4,696	5,315	2,957	1,275	605	344	—	—	15,192
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,737	—	1,737
30-89 days past due	—		—	—	—	—	—	15	—	15
90 days or more past due	—		—	—	—	—	—	14	—	14
Total performing	—		—	—	—	—	—	1,766	—	1,766
Nonperforming	—		—	—	—	—	—	27	—	27
Total credit card	$	—	—	—	—	—	—	1,793	—	1,793
Other consumer loans:
Performing:
Current	$	451	702	382	371	138	57	936	1	3,038
30-89 days past due	1		2	3	2	1	—	2	—	11
90 days or more past due	—		—	1	—	—	—	—	—	1
Total performing	452		704	386	373	139	57	938	1	3,050
Nonperforming	—		1	—	—	—	—	1	—	2
Total other consumer loans	$	452	705	386	373	139	57	939	1	3,052
Total residential mortgage and consumer loans:
Performing:
Current	$	8,223	9,819	5,026	2,220	1,960	5,967	6,916	9	40,140
30-89 days past due	7		21	24	17	10	20	34	—	133
90 days or more past due	—		4	6	3	6	44	14	—	77
Total performing	8,230		9,844	5,056	2,240	1,976	6,031	6,964	9	40,350
Nonperforming	—		30	6	8	7	58	102	1	212
Total residential mortgage and consumer loans(b)	$	8,230	9,874	5,062	2,248	1,983	6,089	7,066	10	40,562

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of June 30, 2021, $65 of these loans were 30-89 days past due and $163 were 90 days or more past due. The Bancorp recognized an immaterial amount and $1 of losses during the three and six months ended June 30, 2021, respectively, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $151 of residential mortgage loans measured at fair value at June 30, 2021.

As of December 31, 2020 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2020		2019	2018	2017	2016	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	4,006	2,128	827	1,635	2,301	4,719	—	—	15,616
30-89 days past due	1		1	3	3	1	12	—	—	21
90 days or more past due	—		6	2	7	7	48	—	—	70
Total performing	4,007		2,135	832	1,645	2,309	4,779	—	—	15,707
Nonperforming	1		—	2	2	3	52	—	—	60
Total residential mortgage loans(b)	$	4,008	2,135	834	1,647	2,312	4,831	—	—	15,767
Home equity:
Performing:
Current	$	11	24	30	4	2	153	4,825	10	5,059
30-89 days past due	—		—	—	—	—	3	33	—	36
90 days or more past due	—		—	—	—	—	2	—	—	2
Total performing	11		24	30	4	2	158	4,858	10	5,097
Nonperforming	—		—	—	—	—	10	75	1	86
Total home equity	$	11	24	30	4	2	168	4,933	11	5,183
Indirect secured consumer loans:
Performing:
Current	$	6,626	3,752	1,678	860	372	214	—	—	13,502
30-89 days past due	25		41	31	17	7	4	—	—	125
90 days or more past due	1		2	3	2	1	1	—	—	10
Total performing	6,652		3,795	1,712	879	380	219	—	—	13,637
Nonperforming	1		5	4	3	2	1	—	—	16
Total indirect secured consumer loans	$	6,653	3,800	1,716	882	382	220	—	—	13,653
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,914	—	1,914
30-89 days past due	—		—	—	—	—	—	30	—	30
90 days or more past due	—		—	—	—	—	—	31	—	31
Total performing	—		—	—	—	—	—	1,975	—	1,975
Nonperforming	—		—	—	—	—	—	32	—	32
Total credit card	$	—	—	—	—	—	—	2,007	—	2,007
Other consumer loans:
Performing:
Current	$	883	546	437	178	32	40	878	1	2,995
30-89 days past due	2		5	4	2	—	—	2	—	15
90 days or more past due	—		2	—	—	—	—	—	—	2
Total performing	885		553	441	180	32	40	880	1	3,012
Nonperforming	—		—	—	—	—	1	1	—	2
Total other consumer loans	$	885	553	441	180	32	41	881	1	3,014
Total residential mortgage and consumer loans:
Performing:
Current	$	11,526	6,450	2,972	2,677	2,707	5,126	7,617	11	39,086
30-89 days past due	28		47	38	22	8	19	65	—	227
90 days or more past due	1		10	5	9	8	51	31	—	115
Total performing	11,555		6,507	3,015	2,708	2,723	5,196	7,713	11	39,428
Nonperforming	2		5	6	5	5	64	108	1	196
Total residential mortgage and consumer loans(b)	$	11,557	6,512	3,021	2,713	2,728	5,260	7,821	12	39,624

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2020, $103 of these loans were 30-89 days past due and $242 were 90 days or more past due. The Bancorp recognized $1 and $2 of losses during the three and six months ended June 30, 2020, respectively, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $161 of residential mortgage loans measured at fair value at December 31, 2020.

Summary by Age and Class of the Recorded Investment in Delinquencies Included in the Bancorp's Portfolio of Loans and Leases

The following tables summarize the Bancorp’s amortized cost basis in portfolio commercial loans and leases, by age and class:

	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of June 30, 2021 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	47,398	111	55	166	47,564	2
Commercial mortgage owner-occupied loans	4,706		35	16	51	4,757	4
Commercial mortgage nonowner-occupied loans	5,587		1	2	3	5,590	—
Commercial construction loans	5,871		—	—	—	5,871	—
Commercial leases	3,224		13	1	14	3,238	—
Total portfolio commercial loans and leases	$	66,786	160	74	234	67,020	6

(a)Includes accrual and nonaccrual loans and leases.

	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of December 31, 2020 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	49,421	119	125	244	49,665	39
Commercial mortgage owner-occupied loans	4,645		7	23	30	4,675	7
Commercial mortgage nonowner-occupied loans	5,860		31	36	67	5,927	1
Commercial construction loans	5,808		7	—	7	5,815	—
Commercial leases	2,906		7	2	9	2,915	1
Total portfolio commercial loans and leases	$	68,640	171	186	357	68,997	48

(a)Includes accrual and nonaccrual loans and leases.

Summary of the Amortized Cost Basis of the Bancorp's Collateral Dependent Loans

The following table presents the amortized cost basis of the Bancorp’s collateral-dependent loans and leases, by portfolio class, as of:

($ in millions)	June 30, 2021		December 31, 2020
Commercial loans and leases:
Commercial and industrial loans	$	539	810
Commercial mortgage owner-occupied loans	35		101
Commercial mortgage nonowner-occupied loans	29		82
Commercial construction loans	18		19
Commercial leases	8		6
Total commercial loans and leases	$	629	1,018
Residential mortgage loans	67		80
Consumer loans:
Home equity	65		71
Indirect secured consumer loans	9		9
Total consumer loans	$	74	80
Total portfolio loans and leases	$	770	1,178

Summary of the Bancorp's Nonperforming Loans and Leases by Class

The following table presents the amortized cost basis of the Bancorp’s nonaccrual loans and leases, by class, and OREO and other repossessed property as of:

	June 30, 2021				December 31, 2020
($ in millions)	With an ALLL		No Related ALLL	Total	With an ALLL	No Related ALLL	Total
Commercial loans and leases:
Commercial and industrial loans	$	181	167	348	213	260	473
Commercial mortgage owner-occupied loans	11		17	28	20	60	80
Commercial mortgage nonowner-occupied loans	23		1	24	34	43	77
Commercial construction loans	—		—	—	1	—	1
Commercial leases	6		3	9	6	1	7
Total nonaccrual portfolio commercial loans and leases	$	221	188	409	274	364	638
Residential mortgage loans	3		46	49	11	49	60
Consumer loans:
Home equity	56		29	85	55	31	86
Indirect secured consumer loans	42		7	49	8	8	16
Credit card	27		—	27	32	—	32
Other consumer loans	2		—	2	2	—	2
Total nonaccrual portfolio consumer loans	$	127	36	163	97	39	136
Total nonaccrual portfolio loans and leases(a)(b)	$	351	270	621	382	452	834
OREO and other repossessed property	—		36	36	—	30	30
Total nonperforming portfolio assets(a)(b)	$	351	306	657	382	482	864

(a)Excludes $13 and $5 of nonaccrual loans held for sale as of June 30, 2021 and December 31, 2020, respectively, and $27 and $1 of nonaccrual restructured loans held for sale as of June 30, 2021 and December 31, 2020, respectively.

(b)Includes $26 and $29 of nonaccrual government insured commercial loans whose repayments are insured by the SBA as of June 30, 2021 and December 31, 2020, respectively, of which $13 and $17 are restructured nonaccrual government insured commercial loans as of June 30, 2021 and December 31, 2020, respectively.

The following table presents the interest income recognized on the Bancorp’s nonaccrual loans and leases, by class:

	For the three months ended June 30,			For the six months ended June 30,
($ in millions)	2021		2020	2021	2020
Commercial loans and leases:
Commercial and industrial loans	$	4	3	9	4
Commercial mortgage owner-occupied loans	2		—	7	—
Commercial mortgage nonowner-occupied loans	2		—	2	—
Commercial leases	—		—	—	1
Total nonaccrual portfolio commercial loans and leases	$	8	3	18	5
Residential mortgage loans	6		7	13	15
Consumer loans:
Home equity	2		2	4	5
Indirect secured consumer loans	—		—	1	—
Credit card	1		1	2	2
Total nonaccrual portfolio consumer loans	$	3	3	7	7
Total nonaccrual portfolio loans and leases	$	17	13	38	27

Summary of Loans Modified in a TDR

The following tables provide a summary of portfolio loans, by class, modified in a TDR by the Bancorp during the three months ended:

June 30, 2021 ($ in millions)	Number of Loans Modified in a TDR During the Period(a)	Amortized Cost Basis of Loans Modified in a TDR During the Period		Increase to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	7	$	25	—	—
Residential mortgage loans	124	23		1	—
Consumer loans:
Home equity	39	2		—	—
Indirect secured consumer loans	450	8		—	—
Credit card	1,373	8		1	—
Total portfolio loans	1,993	$	66	2	—

(a)Represents number of loans post-modification and excludes loans previously modified in a TDR.

June 30, 2020 ($ in millions)	Number of Loans Modified in a TDR During the Period(a)	Amortized Cost Basis in Loans Modified in a TDR During the Period		Increase to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	33	$	107	14	—
Commercial mortgage owner-occupied loans	17	12		—	—
Commercial mortgage nonowner-occupied loans	9	14		—	—
Commercial construction	2	21		1	—
Residential mortgage loans	109	13		1	—
Consumer loans:
Home equity	21	2		—	—
Indirect secured consumer loans	20	—		—	—
Credit card	973	5		2	—
Total portfolio loans	1,184	$	174	18	—

(a)Represents number of loans post-modification and excludes loans previously modified in a TDR.

The following tables provide a summary of portfolio loans, by class, modified in a TDR by the Bancorp during the six months ended:

June 30, 2021 ($ in millions)	Number of Loans Modified in a TDR During the Period(a)	Amortized Cost Basis of Loans Modified in a TDR During the Period		Increase (Decrease) to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	26	$	31	1	—
Commercial mortgage owner-occupied loans	1	4		—	—
Commercial mortgage nonowner-occupied loans	3	25		—	—
Residential mortgage loans	302	59		2	—
Consumer loans:
Home equity	97	5		(1)	—
Indirect secured consumer loans	2,193	51		1	—
Credit card	3,168	18		4	—
Total portfolio loans	5,790	$	193	7	—

(a)Represents number of loans post-modification and excludes loans previously modified in a TDR.

June 30, 2020 ($ in millions)	Number of Loans Modified in a TDR During the Period(a)	Recorded Investment in Loans Modified in a TDR During the Period		Increase (Decrease) to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	63	$	176	24	—
Commercial mortgage owner-occupied loans	28	19		—	—
Commercial mortgage nonowner-occupied loans	12	22		—	—
Commercial construction	3	21		1	—
Residential mortgage loans	293	37		1	—
Consumer loans:
Home equity	42	4		(1)	—
Indirect secured consumer loans	42	—		—	—
Credit card	2,857	15		6	—
Total portfolio loans	3,340	$	294	31	—

(a)Represents number of loans post-modification and excludes loans previously modified in a TDR.

Summary of Subsequent Defaults

The following tables provide a summary of TDRs that subsequently defaulted during the three months ended June 30, 2021 and 2020 and were within 12 months of the restructuring date:

June 30, 2021 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	1	$	—
Residential mortgage loans	16	2
Consumer loans:
Home equity	5	—
Indirect secured consumer loans	32	—
Credit card	11	—
Total portfolio loans	65	$	2

(a)Excludes all loans held for sale and loans acquired with deteriorated credit quality which were accounted for within a pool.

June 30, 2020 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	6	$	4
Commercial mortgage owner-occupied loans	5	1
Commercial mortgage nonowner-occupied loans	1	4
Residential mortgage loans	25	4
Consumer loans:
Home equity	2	—
Indirect secured consumer loans	3	—
Credit card	16	—
Total portfolio loans	58	$	13

(a)Excludes all loans held for sale and loans acquired with deteriorated credit quality which were accounted for within a pool.

The following tables provide a summary of TDRs that subsequently defaulted during the six months ended June 30, 2021 and 2020 and were within 12 months of the restructuring date:

June 30, 2021 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	1	$	—
Commercial mortgage nonowner-occupied loans	1	25
Residential mortgage loans	51	7
Consumer loans:
Home equity	17	1
Indirect secured consumer loans	58	1
Credit card	34	—
Total portfolio loans	162	$	34

(a)Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality which were accounted for within a pool.

June 30, 2020 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	6	$	4
Commercial mortgage owner-occupied loans	7	2
Commercial mortgage nonowner-occupied loans	2	9
Residential mortgage loans	72	10
Consumer loans:
Home equity	3	—
Indirect secured consumer loans	6	—
Credit card	217	1
Total portfolio loans	313	$	26

(a)Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality which were accounted for within a pool.