Loans and Leases (Tables)

12 Months Ended

Dec. 31, 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 December 31:

($ in millions)	2021		2020
Loans and leases held for sale:
Commercial and industrial loans	$	7	230
Commercial mortgage loans	13		7
Commercial leases	1		39
Residential mortgage loans	4,394		4,465
Total loans and leases held for sale	$	4,415	4,741
Portfolio loans and leases:
Commercial and industrial loans(a)	$	51,659	49,665
Commercial mortgage loans	10,316		10,602
Commercial construction loans	5,241		5,815
Commercial leases	3,052		2,915
Total commercial loans and leases	70,268		68,997
Residential mortgage loans(b)	16,397		15,928
Home equity	4,084		5,183
Indirect secured consumer loans	16,783		13,653
Credit card	1,766		2,007
Other consumer loans	2,752		3,014
Total consumer loans	41,782		39,785
Total portfolio loans and leases	$	112,050	108,782

(a)Includes $1.3 billion and $4.8 billion as of December 31, 2021 and 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 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 and net charge-offs (recoveries) as of and for the years ended December 31:

	Carrying Value			90 Days Past Due and Still Accruing(a)		Net Charge-Offs (Recoveries)
($ in millions)	2021		2020	2021	2020	2021	2020
Commercial and industrial loans	$	51,666	49,895	17	39	60	198
Commercial mortgage loans	10,329		10,609	1	8	8	45
Commercial construction loans	5,241		5,815	1	—	—	—
Commercial leases	3,053		2,954	—	1	(1)	23
Residential mortgage loans	20,791		20,393	72	70	(4)	2
Home equity	4,084		5,183	1	2	(4)	5
Indirect secured consumer loans	16,783		13,653	9	10	14	32
Credit card	1,766		2,007	15	31	70	126
Other consumer loans	2,752		3,014	1	2	31	40
Total loans and leases	$	116,465	113,523	117	163	174	471
Less: Loans and leases held for sale	$	4,415	4,741
Total portfolio loans and leases	$	112,050	108,782

(a)Excludes government guaranteed residential mortgage loans.

Investment in Lease Financing

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

($ in millions)(a)	2021		2020
Net investment in direct financing leases:
Lease payment receivable (present value)	$	886	1,400
Unguaranteed residual assets (present value)	147		181
Net premium (discount) on acquired leases	1		(1)
Net investment in sales-type leases:
Lease payment receivable (present value)	1,678		976
Unguaranteed residual assets (present value)	55		36

(a)Excludes $285 and $323 of leveraged leases at December 31, 2021 and 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 2022 through 2026 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of December 31, 2021 ($ in millions)	Direct Financing Leases		Sales-Type Leases
2022	$	294	548
2023	215		385
2024	155		301
2025	111		242
2026	82		116
Thereafter	86		194
Total undiscounted cash flows	$	943	1,786
Less: Difference between undiscounted cash flows and discounted cash flows	57		108
Present value of lease payments (recognized as lease receivables)	$	886	1,678