Loans and Leases (Tables)

9 Months Ended

Sep. 30, 2021

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)	September 30, 2021		December 31, 2020
Loans and leases held for sale:
Commercial and industrial loans	$	2	230
Commercial mortgage loans	—		7
Commercial leases	—		39
Residential mortgage loans	5,201		4,465
Total loans and leases held for sale	$	5,203	4,741
Portfolio loans and leases:
Commercial and industrial loans(a)	$	47,834	49,665
Commercial mortgage loans	10,300		10,602
Commercial construction loans	5,456		5,815
Commercial leases	3,130		2,915
Total commercial loans and leases	$	66,720	68,997
Residential mortgage loans(b)	$	16,158	15,928
Home equity	4,276		5,183
Indirect secured consumer loans	16,004		13,653
Credit card	1,744		2,007
Other consumer loans	3,009		3,014
Total consumer loans	$	41,191	39,785
Total portfolio loans and leases	$	107,911	108,782

(a)Includes $2.3 billion and $4.8 billion as of September 30, 2021 and December 31, 2020, respectively, 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 was deemed to have regained effective control over under ASC Topic 860, but did not exercise its option to repurchase. Refer to Note 15 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)	September 30, 2021		December 31, 2020	September 30, 2021	December 31, 2020
Commercial and industrial loans	$	47,836	49,895	4	39
Commercial mortgage loans	10,300		10,609	2	8
Commercial construction loans	5,456		5,815	—	—
Commercial leases	3,130		2,954	1	1
Residential mortgage loans	21,359		20,393	61	70
Home equity	4,276		5,183	1	2
Indirect secured consumer loans	16,004		13,653	8	10
Credit card	1,744		2,007	14	31
Other consumer loans	3,009		3,014	1	2
Total loans and leases	$	113,114	113,523	92	163
Less: Loans and leases held for sale	$	5,203	4,741
Total portfolio loans and leases	$	107,911	108,782

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

	For the three months ended September 30,			For the nine months ended September 30,
($ in millions)	2021		2020	2021	2020
Commercial and industrial loans	$	5	42	45	157
Commercial mortgage loans	(1)		11	8	14
Commercial leases	—		8	(2)	24
Residential mortgage loans	(1)		(1)	(2)	1
Home equity	(1)		1	(2)	5
Indirect secured consumer loans	(1)		3	8	23
Credit card	12		29	57	100
Other consumer loans	8		8	24	29
Total net charge-offs	$	21	101	136	353

Investment in Lease Financing

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

($ in millions)(a)	September 30, 2021		December 31, 2020
Net investment in direct financing leases:
Lease payment receivable (present value)	$	1,036	1,400
Unguaranteed residual assets (present value)	158		181
Net premium (discount) on acquired leases	1		(1)
Net investment in sales-type leases:
Lease payment receivable (present value)	1,592		976
Unguaranteed residual assets (present value)	50		36

(a)Excludes $293 and $323 of leveraged leases at September 30, 2021 and December 31, 2020, 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 2021 through 2026 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of September 30, 2021 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2021	$	98	145
2022	346		515
2023	221		326
2024	159		249
2025	113		199
2026	82		95
Thereafter	87		173
Total undiscounted cash flows	$	1,106	1,702
Less: Difference between undiscounted cash flows and discounted cash flows	70		110
Present value of lease payments (recognized as lease receivables)	$	1,036	1,592