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

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Summary of Transactions in the ALLL

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

For the three months ended September 30, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,165	248	601	2,014
Losses charged off(a)	(47)		(1)	(56)	(104)
Recoveries of losses previously charged off(a)	15		2	25	42
Provision for loan and lease losses	25		5	117	147
Balance, end of period	$	1,158	254	687	2,099

(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 September 30, 2021 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,224	235	574	2,033
Losses charged off(a)	(10)		(1)	(45)	(56)
Recoveries of losses previously charged off(a)	6		2	27	35
Benefit from loan and lease losses	(53)		(1)	(4)	(58)
Balance, end of period	$	1,167	235	552	1,954

(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 nine months ended September 30, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,102	235	555	1,892
Losses charged off(a)	(95)		(2)	(162)	(259)
Recoveries of losses previously charged off(a)	19		4	77	100
Provision for loan and lease losses	132		17	217	366
Balance, end of period	$	1,158	254	687	2,099

(a)The Bancorp recorded $23 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 nine months ended September 30, 2021 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,456	294	703	2,453
Losses charged off(a)	(91)		(3)	(174)	(268)
Recoveries of losses previously charged off(a)	40		5	87	132
Benefit from loan and lease losses	(238)		(61)	(64)	(363)
Balance, end of period	$	1,167	235	552	1,954

(a)The Bancorp recorded $25 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 September 30, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	63	50	44	157
Collectively evaluated	1,095		204	643	1,942
Total ALLL	$	1,158	254	687	2,099
Portfolio loans and leases:(b)
Individually evaluated	$	561	557	301	1,419
Collectively evaluated	75,217		16,918	26,320	118,455
Total portfolio loans and leases	$	75,778	17,475	26,621	119,874

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

(b)Excludes $125 of residential mortgage loans measured at fair value and includes $248 of commercial leveraged leases, net of unearned income at September 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 September 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	$	3,105	3,508	1,145	567	348	631	43,715	—	53,019
Special mention	41		48	22	40	8	23	1,072	—	1,254
Substandard	60		86	245	28	10	149	1,566	—	2,144
Doubtful	14		—	—	—	—	—	6	—	20
Total commercial and industrial loans	$	3,220	3,642	1,412	635	366	803	46,359	—	56,437
Commercial mortgage owner-occupied loans:
Pass	$	976	893	571	284	192	304	1,414	—	4,634
Special mention	12		20	15	11	13	5	52	—	128
Substandard	21		16	33	83	15	38	99	—	305
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner- occupied loans	$	1,009	929	619	378	220	347	1,565	—	5,067
Commercial mortgage nonowner-occupied loans:
Pass	$	919	440	520	485	241	195	2,465	—	5,265
Special mention	—		161	28	—	—	28	136	—	353
Substandard	100		1	18	4	3	17	119	—	262
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	1,019	602	566	489	244	240	2,720	—	5,880
Commercial construction loans:
Pass	$	75	28	93	9	35	7	4,895	—	5,142
Special mention	—		—	—	—	—	—	151	—	151
Substandard	49		—	—	—	—	2	229	—	280
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	124	28	93	9	35	9	5,275	—	5,573
Commercial leases:
Pass	$	444	715	331	214	167	782	—	—	2,653
Special mention	—		24	4	6	22	23	—	—	79
Substandard	1		9	7	9	13	50	—	—	89
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	445	748	342	229	202	855	—	—	2,821
Total commercial loans and leases:
Pass	$	5,519	5,584	2,660	1,559	983	1,919	52,489	—	70,713
Special mention	53		253	69	57	43	79	1,411	—	1,965
Substandard	231		112	303	124	41	256	2,013	—	3,080
Doubtful	14		—	—	—	—	—	6	—	20
Total commercial loans and leases	$	5,817	5,949	3,032	1,740	1,067	2,254	55,919	—	75,778

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 September 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)	$	2,836	5,528	3,042	1,079	358	4,495	—	—	17,338
30-89 days past due	1		1	2	1	—	12	—	—	17
90 days or more past due	—		1	—	—	1	5	—	—	7
Total performing	2,837		5,530	3,044	1,080	359	4,512	—	—	17,362
Nonperforming	—		2	3	4	6	98	—	—	113
Total residential mortgage loans(b)	$	2,837	5,532	3,047	1,084	365	4,610	—	—	17,475
Home equity:
Performing:
Current	$	12	2	5	9	13	93	3,760	15	3,909
30-89 days past due	—		—	—	—	—	2	20	—	22
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	12		2	5	9	13	96	3,780	15	3,932
Nonperforming	—		—	—	—	—	8	59	1	68
Total home equity	$	12	2	5	9	13	104	3,839	16	4,000
Indirect secured consumer loans:
Performing:
Current	$	4,944	6,430	2,920	1,413	508	298	—	—	16,513
30-89 days past due	18		32	23	19	11	5	—	—	108
90 days or more past due	1		3	2	2	1	1	—	—	10
Total performing	4,963		6,465	2,945	1,434	520	304	—	—	16,631
Nonperforming	—		1	6	3	3	2	—	—	15
Total indirect secured consumer loans	$	4,963	6,466	2,951	1,437	523	306	—	—	16,646
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,715	—	1,715
30-89 days past due	—		—	—	—	—	—	18	—	18
90 days or more past due	—		—	—	—	—	—	14	—	14
Total performing	—		—	—	—	—	—	1,747	—	1,747
Nonperforming	—		—	—	—	—	—	23	—	23
Total credit card	$	—	—	—	—	—	—	1,770	—	1,770
Other consumer loans:
Performing:
Current	$	1,723	607	391	191	125	160	957	24	4,178
30-89 days past due	5		5	3	2	2	2	4	—	23
90 days or more past due	—		—	—	—	—	—	1	—	1
Total performing	1,728		612	394	193	127	162	962	24	4,202
Nonperforming	1		1	—	—	—	1	—	—	3
Total other consumer loans	$	1,729	613	394	193	127	163	962	24	4,205
Total residential mortgage and consumer loans:
Performing:
Current	$	9,515	12,567	6,358	2,692	1,004	5,046	6,432	39	43,653
30-89 days past due	24		38	28	22	13	21	42	—	188
90 days or more past due	1		4	2	2	2	7	15	—	33
Total performing	9,540		12,609	6,388	2,716	1,019	5,074	6,489	39	43,874
Nonperforming	1		4	9	7	9	109	82	1	222
Total residential mortgage and consumer loans(b)	$	9,541	12,613	6,397	2,723	1,028	5,183	6,571	40	44,096

(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 September 30, 2022, $74 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 $2 of losses during the three and nine months ended September 30, 2022, respectively, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $125 of residential mortgage loans measured at fair value at September 30, 2022, including $2 of nonperforming loans.

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 $1 and $2 of losses during the three and nine months ended September 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, including $2 of 90 days or more past due loans.

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 September 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)	$	56,256	144	37	181	56,437	16
Commercial mortgage owner-occupied loans	5,050		16	1	17	5,067	—
Commercial mortgage nonowner-occupied loans	5,876		3	1	4	5,880	—
Commercial construction loans	5,571		—	2	2	5,573	—
Commercial leases	2,802		9	10	19	2,821	10
Total portfolio commercial loans and leases	$	75,555	172	51	223	75,778	26

(a)Includes accrual and nonaccrual loans and leases.

(b)Includes loans related to the SBA’s Paycheck Protection Program of which $3 were 30-89 days past due and $8 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)	September 30, 2022		December 31, 2021
Commercial loans and leases:
Commercial and industrial loans	$	469	467
Commercial mortgage owner-occupied loans	12		22
Commercial mortgage nonowner-occupied loans	29		31
Commercial construction loans	50		56
Commercial leases	1		3
Total commercial loans and leases	$	561	579
Residential mortgage loans	60		60
Consumer loans:
Home equity	55		58
Indirect secured consumer loans	7		8
Total consumer loans	$	62	66
Total portfolio loans and leases	$	683	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:

	September 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	$	151	103	254	151	128	279
Commercial mortgage owner-occupied loans	8		8	16	10	13	23
Commercial mortgage nonowner-occupied loans	21		3	24	22	3	25
Commercial construction loans	—		2	2	6	—	6
Commercial leases	—		2	2	3	1	4
Total nonaccrual portfolio commercial loans and leases	$	180	118	298	192	145	337
Residential mortgage loans	70		45	115	14	19	33
Consumer loans:
Home equity	49		19	68	53	24	77
Indirect secured consumer loans	12		3	15	21	6	27
Credit card	23		—	23	23	—	23
Other consumer loans	3		—	3	1	—	1
Total nonaccrual portfolio consumer loans	$	87	22	109	98	30	128
Total nonaccrual portfolio loans and leases(a)(b)	$	337	185	522	304	194	498
OREO and other repossessed property	—		24	24	—	29	29
Total nonperforming portfolio assets(a)(b)	$	337	209	546	304	223	527

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

(b)Includes $14 and $26 of nonaccrual government insured commercial loans whose repayments are insured by the SBA as of September 30, 2022 and December 31, 2021, respectively, of which $8 and $11 are restructured nonaccrual government insured commercial loans as of September 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:

September 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	19	$	31	—	—
Commercial mortgage owner-occupied loans	2	1		—	—
Residential mortgage loans	190	28		—	—
Consumer loans:
Home equity	54	3		(1)	—
Indirect secured consumer loans	448	7		—	—
Credit card	1,380	7		3	—
Total portfolio loans	2,093	$	77	2	—

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

September 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 (Decrease) to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	29	$	23	(1)	—
Commercial mortgage owner-occupied loans	3	1		—	—
Commercial mortgage nonowner-occupied loans	1	—		—	—
Residential mortgage loans	98	15		1	—
Consumer loans:
Home equity	54	3		(1)	—
Indirect secured consumer loans	1,045	19		—	—
Credit card	1,170	6		2	—
Total portfolio loans	2,400	$	67	1	—

(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 nine months ended:

September 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	69	$	196	13	—
Commercial mortgage owner-occupied loans	8	5		(1)	—
Commercial mortgage nonowner-occupied loans	3	23		—	—
Commercial construction loans	2	4		(3)	—
Residential mortgage loans	928	143		7	—
Consumer loans:
Home equity	178	13		(3)	—
Indirect secured consumer loans	2,499	48		1	—
Credit card	3,694	19		8	—
Total portfolio loans	7,381	$	451	22	—

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

September 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	55	$	54	—	—
Commercial mortgage owner-occupied loans	4	6		—	—
Commercial mortgage nonowner-occupied loans	4	26		—	—
Residential mortgage loans	400	74		3	—
Consumer loans:
Home equity	151	8		(2)	—
Indirect secured consumer loans	3,238	70		1	—
Credit card	4,338	24		6	—
Total portfolio loans	8,190	$	262	8	—

(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 September 30, 2022 and 2021 and were within 12 months of the restructuring date:

September 30, 2022 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	1	$	—
Residential mortgage loans	70	11
Consumer loans:
Home equity	6	—
Indirect secured consumer loans	43	—
Credit card	83	—
Total portfolio loans	203	$	11

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

September 30, 2021 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	4	$	1
Commercial mortgage owner-occupied loans	2	—
Commercial mortgage nonowner-occupied loans	1	—
Residential mortgage loans	10	1
Consumer loans:
Home equity	5	—
Indirect secured consumer loans	31	—
Credit card	85	—
Total portfolio loans	138	$	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 nine months ended September 30, 2022 and 2021 and were within 12 months of the restructuring date:

September 30, 2022 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	8	$	—
Commercial construction loans	1	2
Residential mortgage loans	176	24
Consumer loans:
Home equity	21	1
Indirect secured consumer loans	102	1
Credit card	255	1
Total portfolio loans	563	$	29

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

September 30, 2021 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	5	$	1
Commercial mortgage owner-occupied loans	2	—
Commercial mortgage nonowner-occupied loans	2	25
Residential mortgage loans	61	8
Consumer loans:
Home equity	22	1
Indirect secured consumer loans	89	2
Credit card	119	1
Total portfolio loans	300	$	38

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