Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2022

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)	March 31, 2022		December 31, 2021
Loans and leases held for sale:
Commercial and industrial loans	$	22	7
Commercial mortgage loans	—		13
Commercial leases	1		1
Residential mortgage loans	2,593		4,394
Total loans and leases held for sale	$	2,616	4,415
Portfolio loans and leases:
Commercial and industrial loans(a)	$	53,909	51,659
Commercial mortgage loans	10,694		10,316
Commercial construction loans	5,420		5,241
Commercial leases	2,915		3,052
Total commercial loans and leases	$	72,938	70,268
Residential mortgage loans	$	17,144	16,397
Home equity	3,916		4,084
Indirect secured consumer loans	17,424		16,783
Credit card	1,690		1,766
Other consumer loans	2,753		2,752
Total consumer loans	$	42,927	41,782
Total portfolio loans and leases	$	115,865	112,050

(a)Includes $737 million and $1.3 billion as of March 31, 2022 and December 31, 2021, respectively, related to the SBA’s Paycheck Protection Program.

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(a)
($ in millions)	March 31, 2022		December 31, 2021	March 31, 2022	December 31, 2021
Commercial and industrial loans	$	53,931	51,666	9	17
Commercial mortgage loans	10,694		10,329	2	1
Commercial construction loans	5,420		5,241	—	1
Commercial leases	2,916		3,053	—	—
Residential mortgage loans	19,737		20,791	14	72
Home equity	3,916		4,084	1	1
Indirect secured consumer loans	17,424		16,783	9	9
Credit card	1,690		1,766	14	15
Other consumer loans	2,753		2,752	1	1
Total loans and leases	$	118,481	116,465	50	117
Less: Loans and leases held for sale	$	2,616	4,415
Total portfolio loans and leases	$	115,865	112,050

(a)Excludes government guaranteed residential mortgage loans.

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

	For the three months ended March 31,
($ in millions)	2022		2021
Commercial and industrial loans	$	9	27
Commercial mortgage loans	(1)		2
Commercial leases	—		(1)
Residential mortgage loans	(1)		—
Home equity	(1)		—
Indirect secured consumer loans	7		9
Credit card	13		25
Other consumer loans	8		9
Total net charge-offs	$	34	71

Investment in Lease Financing

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

($ in millions)(a)	March 31, 2022		December 31, 2021
Net investment in direct financing leases:
Lease payment receivable (present value)	$	812	886
Unguaranteed residual assets (present value)	143		147
Net premium on acquired leases	1		1
Net investment in sales-type leases:
Lease payment receivable (present value)	1,639		1,678
Unguaranteed residual assets (present value)	59		55

(a)Excludes $262 and $285 of leveraged leases at March 31, 2022 and December 31, 2021, 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 2022 through 2027 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of March 31, 2022 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2022	$	213	406
2023	216		409
2024	156		320
2025	111		265
2026	82		129
2027	44		100
Thereafter	43		117
Total undiscounted cash flows	$	865	1,746
Less: Difference between undiscounted cash flows and discounted cash flows	53		107
Present value of lease payments (recognized as lease receivables)	$	812	1,639