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Loans and Leases
9 Months Ended
Sep. 30, 2011
Loans and Leases

5. Loans and Leases

The Bancorp diversifies its loan and lease portfolio by offering a variety of loan and lease products with various payment terms and rate structures. Lending activities are concentrated within those states in which the Bancorp has banking centers and are primarily located in the Midwestern and Southeastern regions of the United States. The Bancorp's commercial loan portfolio consists of lending to various industry types. Management periodically reviews the performance of its loan and lease products to evaluate whether they are performing within acceptable interest rate and credit risk levels and changes are made to underwriting policies and procedures as needed. The Bancorp maintains an allowance to absorb loan and lease losses inherent in the portfolio. For further information on credit quality and the ALLL, see Note 6.

 

The following table provides a summary of the total loans and leases classified by primary purpose as of:

   September 30,December 31,September 30,
($ in millions) 201120102010
Loans and leases held for sale:       
 Commercial and industrial loans $66 83 200 
 Commercial mortgage loans 105 147 348 
 Commercial construction loans 26 63 151 
 Residential mortgage loans 1,629 1,901 2,014 
 Other consumer loans and leases 14 22 20 
Total loans and leases held for sale$1,840 2,216 2,733 
Portfolio loans and leases:       
 Commercial and industrial loans $29,258 27,191 26,302 
 Commercial mortgage loans 10,330 10,845 10,985 
 Commercial construction loans 1,213 2,048 2,349 
 Commercial leases 3,368 3,378 3,304 
Total commercial loans and leases 44,169 43,462 42,940 
 Residential mortgage loans 10,249 8,956 7,975 
 Home equity 10,920 11,513 11,774 
 Automobile loans 11,593 10,983 10,738 
 Credit card 1,878 1,896 1,832 
 Other consumer loans and leases  407 681 750 
Total consumer loans and leases 35,047 34,029 33,069 
Total portfolio loans and leases$79,216 77,491 76,009 

Total portfolio loans and leases are recorded net of unearned income, which totaled $944 million as of September 30, 2011, and $1.0 billion as of December 31, 2010 and September 30, 2010. Additionally, portfolio loans and leases are recorded net of unamortized premiums and discounts, deferred loan fees and costs, and fair value adjustments (associated with acquired loans or loans designated as fair value upon origination) which totaled a net premium of $35 million as of September 30, 2011 and net discounts of $19 million and $21 million as of December 31, 2010 and September 30, 2010 respectively.

 

The following table presents a summary of the total loans and leases owned by the Bancorp as of and for the nine months ended September 30:

       Balance of Loans 90 Net
  Balance Days or More Past Due Charge-Offs
($ in millions) 20112010 20112010 20112010
Commercial and industrial loans$29,324 26,502 $9 29 $215 502 
Commercial mortgage loans 10,435 11,333  9 29  148 445 
Commercial construction loans 1,239 2,500  44 5  80 242 
Commercial leases 3,368 3,304  1  1  (2) 5 
Residential mortgage loans 11,878 9,989  91 111  137 377 
Home equity loans 10,920 11,774  83 87  168 199 
Automobile loans 11,593 10,738  9 13  40 69 
Other consumer loans and leases 2,299 2,602  28 42  147 133 
Total loans and leases$81,056 78,742 $274 317 $933 1,972 
Less: Loans held for sale$1,840 2,733           
Total portfolio loans and leases$79,216 76,009