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Credit Quality and the Allowance for Loan and Lease Losses (Tables)
 3 Months Ended
Mar. 31, 2012
Summary of Transactions in the ALLL

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

              
              
For the three months ended March 31, 2012    Residential      
($ in millions)  CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:            
 Balance, beginning of period $ 1,527  227  365  136  2,255 
 Losses charged off   (117)  (38)  (98)  -  (253) 
 Recoveries of losses previously charged off   15  1  17  -  33 
 Provision for loan and lease losses   (1)  43  57  (8)  91 
Balance, end of period $ 1,424  233  341  128  2,126 
              
For the three months ended March 31, 2011    Residential      
($ in millions)  CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:            
 Balance, beginning of period $ 1,989  310  555  150  3,004 
 Losses charged off   (176)  (67)  (154)  -  (397) 
 Recoveries of losses previously charged off   12  2  16  -  30 
 Provision for loan and lease losses   30  41  102  (5)  168 
Balance, end of period $ 1,855  286  519  145  2,805 
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:

             
    Residential      
As of March 31, 2012 ($ in millions) CommercialMortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 132  130  65  -  327 
 Collectively evaluated for impairment  1,291  102  276  -  1,669 
 Loans acquired with deteriorated credit quality  1  1  -  -  2 
 Unallocated  -  -  -  128  128 
Total ALLL$ 1,424  233  341  128  2,126 
Loans and leases:(b)           
 Individually evaluated for impairment$ 1,158  1,247  570  -  2,975 
 Collectively evaluated for impairment  45,317  9,772  23,972  -  79,061 
 Loans acquired with deteriorated credit quality  2  8  -  -  10 
Total portfolio loans and leases$ 46,477  11,027  24,542  -  82,046 

  • Includes $14 related to leveraged leases.
  • Excludes $67 of residential mortgage loans measured at fair value, and includes $1,027 of leveraged leases, net of unearned income.

 

             
    Residential      
As of December 31, 2011 ($ in millions) Commercial MortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 155  130  65 -  350 
 Collectively evaluated for impairment  1,371  96  300 -  1,767 
 Loans acquired with deteriorated credit quality  1  1 - -  2 
 Unallocated - - -  136  136 
Total ALLL$ 1,527  227  365  136  2,255 
Loans and leases:(b)           
 Individually evaluated for impairment$ 1,170  1,258  574 -  3,002 
 Collectively evaluated for impairment  44,299  9,341  24,300 -  77,940 
 Loans acquired with deteriorated credit quality  3  8  - -  11 
Total portfolio loans and leases$ 45,472  10,607  24,874  -  80,953 

  • Includes $14 related to leveraged leases.
  • Excludes $65 of residential mortgage loans measured at fair value, and includes $1,022 of leveraged leases, net of unearned income.

             
    Residential      
As of March 31, 2011 ($ in millions) Commercial MortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 286  123  107 -  516 
 Collectively evaluated for impairment  1,568  161  412 -  2,141 
 Loans acquired with deteriorated credit quality  1  2 - -  3 
 Unallocated - - -  145  145 
Total ALLL$ 1,855  286  519  145  2,805 
Loans and leases:(b)           
 Individually evaluated for impairment$ 1,086  1,193  655 -  2,934 
 Collectively evaluated for impairment  42,111  8,272  24,071 -  74,454 
 Loans acquired with deteriorated credit quality  4  11  8 -  23 
Total portfolio loans and leases$ 43,201  9,476  24,734  -  77,411 

  • Includes $14 related to leveraged leases.
  • Excludes $54 of residential mortgage loans measured at fair value, includes $1,039 of leveraged leases, net of unearned income.
Loan and leases balances by credit quality indicator

The following table summarizes the credit risk profile of the Bancorp's commercial portfolio segment, by class:

            
    Special      
As of March 31, 2012 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 28,761  1,479  1,805 110  32,155 
Commercial mortgage loans owner-occupied  3,850  509  802  15  5,176 
Commercial mortgage loans nonowner-occupied  3,172  566  971  24  4,733 
Commercial construction loans  326  218  342  15  901 
Commercial leases  3,414  40  57  1  3,512 
Total$ 39,523  2,812  3,977  165  46,477 

            
    Special      
As of December 31, 2011 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 27,199  1,641  1,831  112  30,783 
Commercial mortgage loans owner-occupied  3,893  567  778  28  5,266 
Commercial mortgage loans nonowner-occupied  3,328  521  984  39  4,872 
Commercial construction loans  343  235  413  29  1,020 
Commercial leases  3,434  52  44  1  3,531 
Total$ 38,197  3,016  4,050  209  45,472 
            
    Special      
As of March 31, 2011 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 23,092  1,788  2,350  114  27,344 
Commercial mortgage loans owner-occupied  4,027  435  801  18  5,281 
Commercial mortgage loans nonowner-occupied  3,352  659  1,152  66  5,229 
Commercial construction loans  1,029  412  516  23  1,980 
Commercial leases  3,273  46  46  2  3,367 
Total$ 34,773  3,340  4,865  223  43,201 
            

The following table presents a summary of the Bancorp's residential mortgage and consumer portfolio segments disaggregated into performing versus nonperforming status as of:

              
  March 31, 2012December 31, 2011March 31, 2011
($ in millions) PerformingNonperformingPerformingNonperformingPerformingNonperforming
Residential mortgage loans(a)$ 10,762  265  10,332  275  9,215  261 
Home equity  10,443  50  10,665  54  11,166  56 
Automobile loans  11,829  3  11,825  2  11,126  3 
Credit card  1,851  45  1,930  48  1,767  54 
Other consumer loans and leases  320  1  349  1  502  60 
Total$ 35,205  364  35,101  380  33,776  434 

  • Excludes $67, $65, and $54 of loans measured at fair value at March 31, 2012, December 31, 2011, and March 31, 2011, respectively.

The following tables summarize the Bancorp's recorded investment in portfolio loans and leases by age and class
Delinquent Loans And Leases Summary Description Disclosure [Text Block]
               
     Past Due    
   Current  90 Days     90 Days Past
As of March 31, 2012 Loans and 30-89 andTotal Total LoansDue and Still
($ in millions) LeasesDaysGreater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $31,872 77 206 283 32,155 2 
 Commercial mortgage owner-occupied loans 5,010 30 136 166 5,176 30 
 Commercial mortgage nonowner-occupied loans 4,516 48 169 217 4,733 0 
 Commercial construction loans 782 5 114 119 901 0 
 Commercial leases 3,507 1 4 5 3,512 0 
Residential mortgage loans(a) (b) 10,594 97 336 433 11,027 73 
Consumer:             
 Home equity 10,250 118 125 243 10,493 74 
 Automobile loans 11,771 50 11 61 11,832 8 
 Credit card 1,795 31 70 101 1,896 29 
 Other consumer loans and leases  319 1 1 2 321 0 
Total portfolio loans and leases(a)$80,416 458 1,172 1,630 82,046 216 

  • Excludes $67 of loans measured at fair value.
  • Information for current residential mortgage loans includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs. As of March 31, 2012, $49 of these loans were 30-89 days past due and $320 were 90 days or more past due. The Bancorp recognized $1 of losses for the three months ended March 31, 2012 due to claim denials and curtailments associated with these advances.
  • Includes accrual and nonaccrual loans and leases.

               
     Past Due    
   Current  90 Days     90 Days Past
As of December 31, 2011 Loans and 30-89andTotal Total LoansDue and Still
($ in millions) LeasesDaysGreater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $30,493 49 241 290 30,783 4 
 Commercial mortgage owner-occupied loans 5,088 62 116 178 5,266 1 
 Commercial mortgage nonowner-occupied loans 4,649 41 182 223 4,872 2 
 Commercial construction loans 887 12 121 133 1,020 1 
 Commercial leases 3,521 4 6 10 3,531 0 
Residential mortgage loans(a) (b) 10,149 110 348 458 10,607 79 
Consumer:             
 Home equity 10,455 136 128 264 10,719 74 
 Automobile loans 11,744 71 12 83 11,827 9 
 Credit card 1,873 33 72 105 1,978 30 
 Other consumer loans and leases  348 1 1 2 350 0 
Total portfolio loans and leases(a)$79,207 519 1,227 1,746 80,953 200 

  • Excludes $65 of loans measured at fair value.
  • Information for current residential mortgage loans includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs. As of December 31, 2011, $45 of these loans were 30-89 days past due and $309 were 90 days or more past due. The Bancorp recognized an immaterial amount of losses for the year ended December 31, 2011 due to claim denials and curtailments associated with these advances.
  • Includes accrual and nonaccrual loans and leases.

 

               
     Past Due    
   Current  90 Days     90 Days Past
As of March 31, 2011 Loans and 30-89andTotal Total LoansDue and Still
($ in millions) LeasesDaysGreater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $26,920 132 292 424 27,344 8 
 Commercial mortgage owner-occupied loans 5,094 57 130 187 5,281 4 
 Commercial mortgage nonowner-occupied loans 4,931 103 195 298 5,229 4 
 Commercial construction loans 1,775 50 155 205 1,980 23 
 Commercial leases 3,352 5 10 15 3,367 0 
Residential mortgage loans(a) (b) 9,001 119 356 475 9,476 98 
Consumer:             
 Home equity 10,946 136 140 276 11,222 84 
 Automobile loans 11,050 67 12 79 11,129 9 
 Credit card 1,703 36 82 118 1,821 36 
 Other consumer loans and leases  500 2 60 62 562 0 
Total portfolio loans and leases(a)$75,272 707 1,432 2,139 77,411 266 

(a) Excludes $54 of loans measured at fair value.

(b) Information for current residential mortgage loans includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs. As of March 31, 2011 $50 of these loans were 30-89 days past due and $298 were 90 days or more past due. The Bancorp recognized an immaterial amount of losses for the three months ended March 31, 2011 due to claim denials and curtailments associated with these advances.

(c) Includes accrual and nonaccrual loans and leases
Impaired Loans And Valuation Allowance By Class Disclosure [Text Block]

The following tables summarize the Bancorp's impaired loans and leases (by class) that were subject to individual review:

           
    Unpaid     
As of March 31, 2012  PrincipalRecorded    
($ in millions)  BalanceInvestment(a)Allowance 
With a related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $367 248 92  
 Commercial mortgage owner-occupied loans  88 69 9  
 Commercial mortgage nonowner-occupied loans  227 159 19  
 Commercial construction loans  142 85 12  
 Commercial leases  4 4 1  
Restructured residential mortgage loans  1,044 997 131  
Restructured consumer:         
 Home equity  401 398 47  
 Automobile loans  39 39 5  
 Credit card  95 87 13  
 Other consumer loans and leases   2 2 0  
Total impaired loans with a related allowance $2,409 2,088 329  
With no related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $275 228 0  
 Commercial mortgage owner-occupied loans  99 88 0  
 Commercial mortgage nonowner-occupied loans  205 179 0  
 Commercial construction loans  130 94 0  
 Commercial leases  6 6 0  
Restructured residential mortgage loans  312 258 0  
Restructured consumer:         
 Home equity  44 41 0  
 Automobile loans  3 3 0  
Total impaired loans with no related allowance  1,074 897 0  
Total impaired loans and leases $3,483 2,985 329  

           
    Unpaid     
As of December 31, 2011  PrincipalRecorded    
($ in millions)  BalanceInvestment(a)Allowance 
With a related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $330 246 102  
 Commercial mortgage owner-occupied loans  66 52 10  
 Commercial mortgage nonowner-occupied loans  203 147 24  
 Commercial construction loans  213 120 18  
 Commercial leases  11 10 2  
Restructured residential mortgage loans  1,091 1,038 131  
Restructured consumer:         
 Home equity  401 397 46  
 Automobile loans  37 37 5  
 Credit card  94 88 14  
 Other consumer loans and leases   2 2 0  
Total impaired loans with a related allowance $2,448 2,137 352  
With no related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $375 265 0  
 Commercial mortgage owner-occupied loans  78 69 0  
 Commercial mortgage nonowner-occupied loans  191 157 0  
 Commercial construction loans  143 105 0  
 Commercial leases  2 2 0  
Restructured residential mortgage loans  276 228 0  
Restructured consumer:         
 Home equity  48 46 0  
 Automobile loans  4 4 0  
Total impaired loans with no related allowance  1,117 876 0  
Total impaired loans and leases $3,565 3,013 352  

  • Includes $390, $1,117 and $495, respectively, of commercial, residential mortgage and consumer TDRs on accrual status; $160, $141 and $79, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.

           
    Unpaid     
As of March 31, 2011  PrincipalRecorded    
($ in millions)  BalanceInvestment(a)Allowance 
With a related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $479 351 162  
 Commercial mortgage owner-occupied loans  107 66 17  
 Commercial mortgage nonowner-occupied loans  169 117 21  
 Commercial construction loans  252 159 39  
 Commercial leases  10 10 48  
Restructured residential mortgage loans  1,094 1,044 125  
Restructured consumer:         
 Home equity  395 393 52  
 Automobile loans  35 34 5  
 Credit card  112 99 19  
 Other consumer loans and leases   87 84 31  
Total impaired loans with a related allowance $2,740 2,357 519  
With no related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $178 142 0  
 Commercial mortgage owner-occupied loans  64 54 0  
 Commercial mortgage nonowner-occupied loans  171 144 0  
 Commercial construction loans  73 43 0  
 Commercial leases  4 4 0  
Restructured residential mortgage loans  201 160 0  
Restructured consumer:         
 Home equity  50 48 0  
 Automobile loans  5 5 0  
Total impaired loans with no related allowance  746 600 0  
Total impaired loans and leases $3,486 2,957 519  

(a) Includes $243, $1,083, and $515, respectively, of commercial, residential mortgage and consumer TDRs on accrual status; $149, $121 and $148, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status
Summarizes the Bancorp's Average Impaired Loans and Leases and Interest Income by Class

The following table summarizes the Bancorp's average impaired loans and leases and interest income by class:

         
     For the three months ended
     March 31, 2012
     AverageInterest
     RecordedIncome
($ in millions)   InvestmentRecognized
Commercial:       
 Commercial and industrial loans   $494 1 
 Commercial mortgage owner-occupied loans   139 1 
 Commercial mortgage nonowner-occupied loans   320 2 
 Commercial construction loans   202 1 
 Commercial leases   11 0 
Restructured residential mortgage loans   1,262 12 
Restructured consumer:       
 Home equity   444 6 
 Automobile loans   41 0 
 Credit card   80 1 
Total impaired loans and leases  $2,993 24 

         
     For the three months ended
     March 31, 2011
     AverageInterest
     RecordedIncome
($ in millions)   InvestmentRecognized
Commercial:       
 Commercial and industrial loans   $509 13 
 Commercial mortgage owner-occupied loans   109 5 
 Commercial mortgage nonowner-occupied loans   277 8 
 Commercial construction loans   206 5 
 Commercial leases   14 0 
Restructured residential mortgage loans   1,196 10 
Restructured consumer:       
 Home equity   441 6 
 Automobile loans   39 0 
 Credit card   86 1 
 Other consumer loans and leases    82 0 
Total impaired loans and leases  $2,959 48 
         
Summary of Loans Modified in a TDR

The following table provides a summary of loans modified in a TDR by the Bancorp during the three months ended March 31, 2012:

           
    Recorded investmentIncrease  
  Number of loansin loans modified(Decrease)Charge-offs
 modified in a TDRin a TDR to ALLL uponrecognized upon
($ in millions)(a)during the period(b)during the periodmodificationmodification
Commercial:         
 Commercial and industrial loans 30 $15  (3) 0 
 Commercial mortgage owner-occupied loans27  8  (2) 0 
 Commercial mortgage nonowner-occupied loans30  51  1 0 
 Commercial construction loans11  36 0 0 
Residential mortgage loans480  78 7 0 
Consumer:         
 Home equity311  19 1 0 
 Automobile loans339  5 1 0 
 Credit card2,741  18 2 0 
Total portfolio loans and leases3,969 $230  7 0 

  • Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality.
  • Represents number of loans post-modification.

 
Summary of Subsequent Defaults

The following table provides a summary of subsequent defaults that occurred during the three months ended March 31, 2012 and within 12 months of the restructuring date:

       
  Number of Recorded
($ in millions)(a)Contracts Investment
Commercial:     
 Commercial mortgage nonowner-occupied loans1 $1 
 Commercial construction loans2  3 
Residential mortgage loans64  11 
Consumer:     
 Home equity31  2 
 Automobile loans12  0 
 Credit card17  0 
Total portfolio loans and leases127 $17 

  • Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality.
Summary of the Bancorp's Nonperforming Loans and Leases by Class

The following table summarizes the Bancorp's nonperforming loans and leases, by class, as of:

 

         
   March 31,December 31,March 31,
($ in millions) 201220112011
Commercial:       
 Commercial and industrial loans $442 487 572 
 Commercial mortgage owner-occupied loans 180 170 271 
 Commercial mortgage nonowner-occupied loans 225 251 182 
 Commercial construction loans 131 138 168 
 Commercial leases 10 12 18 
Total commercial loans and leases 988 1,058 1,211 
Residential mortgage loans 265 275 261 
Consumer:       
 Home equity 50 54 56 
 Automobile loans 3 2 3 
 Credit card 45 48 54 
 Other consumer loans and leases  1 1 60 
Total consumer loans and leases 99 105 173 
Total nonperforming loans and leases(a)$1,352 1,438 1,645 
OREO and other repossessed property(b) 321 378 481 

  • Excludes $117, $138 and $216 of nonaccrual loans held for sale at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.
  • Excludes $69, $64 and $53 of OREO related to government insured loans at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.