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

6 Months Ended

Jun. 30, 2022

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, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,110	239	559	1,908
Losses charged off(a)	(37)		—	(53)	(90)
Recoveries of losses previously charged off(a)	1		1	26	28
Provision for loan and lease losses	91		8	69	168
Balance, end of period	$	1,165	248	601	2,014

(a)The Bancorp recorded $7 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, 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 six months ended June 30, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,102	235	555	1,892
Losses charged off(a)	(48)		(1)	(105)	(154)
Recoveries of losses previously charged off(a)	4		2	52	58
Provision for loan and lease losses	107		12	99	218
Balance, end of period	$	1,165	248	601	2,014

(a)The Bancorp recorded $15 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, 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.

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, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	65	52	44	161
Collectively evaluated	1,100		196	557	1,853
Total ALLL	$	1,165	248	601	2,014
Portfolio loans and leases:(b)
Individually evaluated	$	576	563	310	1,449
Collectively evaluated	74,474		16,870	25,897	117,241
Total portfolio loans and leases	$	75,050	17,433	26,207	118,690

(a)Includes $2 related to commercial leveraged leases at June 30, 2022.

(b)Excludes $133 of residential mortgage loans measured at fair value and includes $246 of commercial leveraged leases, net of unearned income at June 30, 2022.

As of December 31, 2021 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	77	46	41	164
Collectively evaluated	1,025		189	514	1,728
Total ALLL	$	1,102	235	555	1,892
Portfolio loans and leases:(b)
Individually evaluated	$	579	460	313	1,352
Collectively evaluated	69,689		15,783	25,072	110,544
Total portfolio loans and leases	$	70,268	16,243	25,385	111,896

(a)Includes $2 related to commercial leveraged leases at December 31, 2021.

(b)Excludes $154 of residential mortgage loans measured at fair value and includes $285 of commercial leveraged leases, net of unearned income at December 31, 2021.

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, 2022 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2022		2021	2020	2019	2018	Prior			Total
Commercial and industrial loans:
Pass	$	2,282	4,003	1,443	717	407	680	43,532	—	53,064
Special mention	21		41	53	90	44	24	680	—	953
Substandard	52		61	46	19	10	188	1,682	—	2,058
Doubtful	—		—	—	—	—	—	20	—	20
Total commercial and industrial loans	$	2,355	4,105	1,542	826	461	892	45,914	—	56,095
Commercial mortgage owner-occupied loans:
Pass	$	738	926	597	302	228	373	1,394	—	4,558
Special mention	9		54	19	50	15	4	77	—	228
Substandard	18		7	49	39	22	55	87	—	277
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner- occupied loans	$	765	987	665	391	265	432	1,558	—	5,063
Commercial mortgage nonowner-occupied loans:
Pass	$	693	488	587	569	261	257	2,046	—	4,901
Special mention	4		72	2	7	—	15	212	—	312
Substandard	76		150	18	4	3	10	211	—	472
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	773	710	607	580	264	282	2,469	—	5,685
Commercial construction loans:
Pass	$	60	24	93	12	36	7	4,656	—	4,888
Special mention	—		—	—	—	—	—	177	—	177
Substandard	—		—	—	—	—	2	290	—	292
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	60	24	93	12	36	9	5,123	—	5,357
Commercial leases:
Pass	$	258	794	363	235	185	875	—	—	2,710
Special mention	—		19	7	7	19	43	—	—	95
Substandard	—		6	3	8	12	16	—	—	45
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	258	819	373	250	216	934	—	—	2,850
Total commercial loans and leases:
Pass	$	4,031	6,235	3,083	1,835	1,117	2,192	51,628	—	70,121
Special mention	34		186	81	154	78	86	1,146	—	1,765
Substandard	146		224	116	70	47	271	2,270	—	3,144
Doubtful	—		—	—	—	—	—	20	—	20
Total commercial loans and leases	$	4,211	6,645	3,280	2,059	1,242	2,549	55,064	—	75,050

As of December 31, 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	$	4,266	2,291	1,198	552	356	752	39,486	—	48,901
Special mention	37		22	12	29	22	5	665	—	792
Substandard	19		52	36	69	52	115	1,623	—	1,966
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial and industrial loans	$	4,322	2,365	1,246	650	430	872	41,774	—	51,659
Commercial mortgage owner-occupied loans:
Pass	$	1,082	804	471	296	183	331	1,141	—	4,308
Special mention	—		31	46	17	2	40	69	—	205
Substandard	22		38	3	12	3	27	91	—	196
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner-occupied loans	$	1,104	873	520	325	188	398	1,301	—	4,709
Commercial mortgage nonowner-occupied loans:
Pass	$	635	733	595	284	141	302	1,977	—	4,667
Special mention	89		12	11	5	7	9	162	—	295
Substandard	160		78	4	3	9	3	388	—	645
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	884	823	610	292	157	314	2,527	—	5,607
Commercial construction loans:
Pass	$	50	69	11	37	—	9	4,488	—	4,664
Special mention	—		39	—	—	—	—	193	—	232
Substandard	17		—	—	—	—	—	328	—	345
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	67	108	11	37	—	9	5,009	—	5,241
Commercial leases:
Pass	$	1,019	436	284	231	233	776	—	—	2,979
Special mention	4		4	5	9	—	8	—	—	30
Substandard	7		3	8	10	13	2	—	—	43
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	1,030	443	297	250	246	786	—	—	3,052
Total commercial loans and leases:
Pass	$	7,052	4,333	2,559	1,400	913	2,170	47,092	—	65,519
Special mention	130		108	74	60	31	62	1,089	—	1,554
Substandard	225		171	51	94	77	147	2,430	—	3,195
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial loans and leases	$	7,407	4,612	2,684	1,554	1,021	2,379	50,611	—	70,268

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, 2022 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2022		2021	2020	2019	2018	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	2,264	5,648	3,134	1,123	380	4,757	—	—	17,306
30-89 days past due	—		—	1	1	2	12	—	—	16
90 days or more past due	—		—	—	1	—	7	—	—	8
Total performing	2,264		5,648	3,135	1,125	382	4,776	—	—	17,330
Nonperforming	—		1	3	3	5	91	—	—	103
Total residential mortgage loans(b)	$	2,264	5,649	3,138	1,128	387	4,867	—	—	17,433
Home equity:
Performing:
Current	$	4	2	5	10	14	98	3,663	14	3,810
30-89 days past due	—		—	—	—	—	2	20	—	22
90 days or more past due	—		—	—	—	—	2	—	—	2
Total performing	4		2	5	10	14	102	3,683	14	3,834
Nonperforming	—		—	—	—	—	8	63	1	72
Total home equity	$	4	2	5	10	14	110	3,746	15	3,906
Indirect secured consumer loans:
Performing:
Current	$	3,868	7,092	3,295	1,641	617	377	—	—	16,890
30-89 days past due	10		32	21	20	12	6	—	—	101
90 days or more past due	1		2	2	1	1	1	—	—	8
Total performing	3,879		7,126	3,318	1,662	630	384	—	—	16,999
Nonperforming	—		1	7	4	3	3	—	—	18
Total indirect secured consumer loans	$	3,879	7,127	3,325	1,666	633	387	—	—	17,017
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,710	—	1,710
30-89 days past due	—		—	—	—	—	—	17	—	17
90 days or more past due	—		—	—	—	—	—	13	—	13
Total performing	—		—	—	—	—	—	1,740	—	1,740
Nonperforming	—		—	—	—	—	—	23	—	23
Total credit card	$	—	—	—	—	—	—	1,763	—	1,763
Other consumer loans:
Performing:
Current	$	847	691	435	218	142	174	974	19	3,500
30-89 days past due	1		4	2	2	2	2	4	1	18
90 days or more past due	—		—	—	1	—	—	—	—	1
Total performing	848		695	437	221	144	176	978	20	3,519
Nonperforming	—		—	—	—	—	1	1	—	2
Total other consumer loans	$	848	695	437	221	144	177	979	20	3,521
Total residential mortgage and consumer loans:
Performing:
Current	$	6,983	13,433	6,869	2,992	1,153	5,406	6,347	33	43,216
30-89 days past due	11		36	24	23	16	22	41	1	174
90 days or more past due	1		2	2	3	1	10	13	—	32
Total performing	6,995		13,471	6,895	3,018	1,170	5,438	6,401	34	43,422
Nonperforming	—		2	10	7	8	103	87	1	218
Total residential mortgage and consumer loans(b)	$	6,995	13,473	6,905	3,025	1,178	5,541	6,488	35	43,640

(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, 2022, $71 of these loans were 30-89 days past due and $150 were 90 days or more past due. The Bancorp recognized $1 of losses during both the three and six months ended June 30, 2022 due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $133 of residential mortgage loans measured at fair value at June 30, 2022.

As of December 31, 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)	$	5,886	3,309	1,294	418	954	4,261	—	—	16,122
30-89 days past due	1		1	1	1	1	13	—	—	18
90 days or more past due	—		2	4	3	9	52	—	—	70
Total performing	5,887		3,312	1,299	422	964	4,326	—	—	16,210
Nonperforming	—		—	1	—	2	30	—	—	33
Total residential mortgage loans(b)	$	5,887	3,312	1,300	422	966	4,356	—	—	16,243
Home equity:
Performing:
Current	$	2	6	13	18	2	113	3,815	12	3,981
30-89 days past due	—		—	—	—	—	3	22	—	25
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	2		6	13	18	2	117	3,837	12	4,007
Nonperforming	—		—	—	—	—	9	67	1	77
Total home equity	$	2	6	13	18	2	126	3,904	13	4,084
Indirect secured consumer loans:
Performing:
Current	$	8,732	4,206	2,221	902	389	194	—	—	16,644
30-89 days past due	26		24	25	17	8	3	—	—	103
90 days or more past due	2		2	2	2	1	—	—	—	9
Total performing	8,760		4,232	2,248	921	398	197	—	—	16,756
Nonperforming	—		12	5	5	3	2	—	—	27
Total indirect secured consumer loans	$	8,760	4,244	2,253	926	401	199	—	—	16,783
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,710	—	1,710
30-89 days past due	—		—	—	—	—	—	18	—	18
90 days or more past due	—		—	—	—	—	—	15	—	15
Total performing	—		—	—	—	—	—	1,743	—	1,743
Nonperforming	—		—	—	—	—	—	23	—	23
Total credit card	$	—	—	—	—	—	—	1,766	—	1,766
Other consumer loans:
Performing:
Current	$	692	530	275	174	105	47	913	—	2,736
30-89 days past due	3		2	3	2	1	—	2	1	14
90 days or more past due	—		—	1	—	—	—	—	—	1
Total performing	695		532	279	176	106	47	915	1	2,751
Nonperforming	—		—	—	—	—	—	1	—	1
Total other consumer loans	$	695	532	279	176	106	47	916	1	2,752
Total residential mortgage and consumer loans:
Performing:
Current	$	15,312	8,051	3,803	1,512	1,450	4,615	6,438	12	41,193
30-89 days past due	30		27	29	20	10	19	42	1	178
90 days or more past due	2		4	7	5	10	53	15	—	96
Total performing	15,344		8,082	3,839	1,537	1,470	4,687	6,495	13	41,467
Nonperforming	—		12	6	5	5	41	91	1	161
Total residential mortgage and consumer loans(b)	$	15,344	8,094	3,845	1,542	1,475	4,728	6,586	14	41,628

(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, 2021, $49 of these loans were 30-89 days past due and $139 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 due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $154 of residential mortgage loans measured at fair value at December 31, 2021.

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, 2022 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans(b)	$	55,952	105	38	143	56,095	6
Commercial mortgage owner-occupied loans	5,050		11	2	13	5,063	—
Commercial mortgage nonowner-occupied loans	5,685		—	—	—	5,685	—
Commercial construction loans	5,356		—	1	1	5,357	—
Commercial leases	2,842		5	3	8	2,850	1
Total portfolio commercial loans and leases	$	74,885	121	44	165	75,050	7

(a)Includes accrual and nonaccrual loans and leases.

(b)Includes loans related to the SBA’s Paycheck Protection Program of which $16 were 30-89 days past due and $5 were 90 days or more past due.

	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of December 31, 2021 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans(b)	$	51,549	61	49	110	51,659	17
Commercial mortgage owner-occupied loans	4,701		4	4	8	4,709	1
Commercial mortgage nonowner-occupied loans	5,606		—	1	1	5,607	—
Commercial construction loans	5,241		—	—	—	5,241	1
Commercial leases	3,035		16	1	17	3,052	—
Total portfolio commercial loans and leases	$	70,132	81	55	136	70,268	19

(a)Includes accrual and nonaccrual loans and leases.

(b)Includes loans related to the SBA’s Paycheck Protection Program, of which $20 were 30-89 days past due and $6 were 90 days or more past due.

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, 2022		December 31, 2021
Commercial loans and leases:
Commercial and industrial loans	$	476	467
Commercial mortgage owner-occupied loans	13		22
Commercial mortgage nonowner-occupied loans	29		31
Commercial construction loans	53		56
Commercial leases	5		3
Total commercial loans and leases	$	576	579
Residential mortgage loans	59		60
Consumer loans:
Home equity	52		58
Indirect secured consumer loans	6		8
Total consumer loans	$	58	66
Total portfolio loans and leases	$	693	705

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, 2022				December 31, 2021
($ in millions)	With an ALLL		No Related ALLL	Total	With an ALLL	No Related ALLL	Total
Commercial loans and leases:
Commercial and industrial loans	$	164	104	268	151	128	279
Commercial mortgage owner-occupied loans	10		10	20	10	13	23
Commercial mortgage nonowner-occupied loans	25		—	25	22	3	25
Commercial construction loans	1		3	4	6	—	6
Commercial leases	—		2	2	3	1	4
Total nonaccrual portfolio commercial loans and leases	$	200	119	319	192	145	337
Residential mortgage loans	61		44	105	14	19	33
Consumer loans:
Home equity	50		22	72	53	24	77
Indirect secured consumer loans	14		4	18	21	6	27
Credit card	23		—	23	23	—	23
Other consumer loans	2		—	2	1	—	1
Total nonaccrual portfolio consumer loans	$	89	26	115	98	30	128
Total nonaccrual portfolio loans and leases(a)(b)	$	350	189	539	304	194	498
OREO and other repossessed property	—		20	20	—	29	29
Total nonperforming portfolio assets(a)(b)	$	350	209	559	304	223	527

(a)Excludes an immaterial amount and $15 of nonaccrual loans held for sale as of June 30, 2022 and December 31, 2021, respectively.

(b)Includes $15 and $26 of nonaccrual government insured commercial loans whose repayments are insured by the SBA as of June 30, 2022 and December 31, 2021, respectively, of which $9 and $11 are restructured nonaccrual government insured commercial loans as of June 30, 2022 and December 31, 2021, respectively.

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, 2022 ($ 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	20	$	74	—	—
Commercial mortgage owner-occupied loans	1	—		—	—
Commercial mortgage nonowner-occupied loans	3	23		—	—
Commercial construction loans	2	4		(3)	—
Residential mortgage loans	478	73		4	—
Consumer loans:
Home equity	72	3		(1)	—
Indirect secured consumer loans	777	14		1	—
Credit card	1,193	6		3	—
Total portfolio loans	2,546	$	197	4	—

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

June 30, 2021 ($ 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	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.

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

June 30, 2022 ($ 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	50	$	165	13	—
Commercial mortgage owner-occupied loans	6	4		(1)	—
Commercial mortgage nonowner-occupied loans	3	23		—	—
Commercial construction loans	2	4		(3)	—
Residential mortgage loans	738	115		7	—
Consumer loans:
Home equity	124	10		(2)	—
Indirect secured consumer loans	2,051	41		1	—
Credit card	2,314	12		5	—
Total portfolio loans	5,288	$	374	20	—

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

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.

Summary of Subsequent Defaults

The following tables provide a summary of TDRs that subsequently defaulted during the three months ended June 30, 2022 and 2021 and were within 12 months of the restructuring date:

June 30, 2022 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	1	$	—
Commercial construction loans	1	2
Residential mortgage loans	77	10
Consumer loans:
Home equity	8	—
Indirect secured consumer loans	34	1
Credit card	67	—
Total portfolio loans	188	$	13

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

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.

The following tables provide a summary of TDRs that subsequently defaulted during the six months ended June 30, 2022 and 2021 and were within 12 months of the restructuring date:

June 30, 2022 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	7	$	—
Commercial construction loans	1	2
Residential mortgage loans	106	13
Consumer loans:
Home equity	15	1
Indirect secured consumer loans	59	1
Credit card	172	1
Total portfolio loans	360	$	18

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

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