Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024		December 31, 2023
Loans and leases held for sale:
Commercial and industrial loans	$	30	41
Commercial leases	2		3
Residential mortgage loans	307		334
Total loans and leases held for sale	$	339	378
Portfolio loans and leases:
Commercial and industrial loans	$	52,209	53,270
Commercial mortgage loans	11,346		11,276
Commercial construction loans	5,789		5,621
Commercial leases	2,572		2,579
Total commercial loans and leases	$	71,916	72,746
Residential mortgage loans	$	16,995	17,026
Home equity	3,883		3,916
Indirect secured consumer loans	15,306		14,965
Credit card	1,737		1,865
Solar energy installation loans	3,871		3,728
Other consumer loans	2,777		2,988
Total consumer loans	$	44,569	44,488
Total portfolio loans and leases	$	116,485	117,234

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, 2024		December 31, 2023	March 31, 2024	December 31, 2023
Commercial and industrial loans	$	52,239	53,311	9	8
Commercial mortgage loans	11,346		11,276	—	—
Commercial construction loans	5,789		5,621	—	—
Commercial leases	2,574		2,582	2	—
Residential mortgage loans	17,302		17,360	5	7
Home equity	3,883		3,916	—	—
Indirect secured consumer loans	15,306		14,965	—	—
Credit card	1,737		1,865	19	21
Solar energy installation loans	3,871		3,728	—	—
Other consumer loans	2,777		2,988	—	—
Total loans and leases	$	116,824	117,612	35	36
Less: Loans and leases held for sale	339		378
Total portfolio loans and leases	$	116,485	117,234

(a)Excludes government guaranteed residential mortgage loans.

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

	For the three months ended March 31,
($ in millions)	2024		2023
Commercial and industrial loans	$	35	30
Commercial construction loans	—		1
Indirect secured consumer loans	24		14
Credit card	18		15
Solar energy installation loans	12		3
Other consumer loans	21		15
Total net charge-offs	$	110	78

Investment in Lease Financing

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

($ in millions)(a)	March 31, 2024		December 31, 2023
Net investment in direct financing leases:
Lease payment receivable (present value)	$	552	556
Unguaranteed residual assets (present value)	109		105
Net investment in sales-type leases:
Lease payment receivable (present value)	1,584		1,585
Unguaranteed residual assets (present value)	83		84

(a)Excludes $244 and $249 of leveraged leases at March 31, 2024 and December 31, 2023, 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 2024 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of March 31, 2024 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2024	$	131	364
2025	158		487
2026	126		322
2027	90		245
2028	44		172
2029	23		67
Thereafter	34		65
Total undiscounted cash flows	$	606	1,722
Less: Difference between undiscounted cash flows and discounted cash flows	54		138
Present value of lease payments (recognized as lease receivables)	$	552	1,584