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Loans and Leases
 6 Months Ended
Jun. 30, 2012
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:

         
   June 30,December 31,June 30,
($ in millions) 201220112011
Loans and leases held for sale:       
 Commercial and industrial loans $13 45 56 
 Commercial mortgage loans 35 76 98 
 Commercial construction loans 12 17 27 
 Commercial leases 4 0 0 
 Residential mortgage loans 1,789 2,802 989 
 Other consumer loans and leases 10 14 15 
Total loans and leases held for sale$1,863 2,954 1,185 
Portfolio loans and leases:       
 Commercial and industrial loans $32,612 30,783 28,099 
 Commercial mortgage loans 9,662 10,138 10,233 
 Commercial construction loans 822 1,020 1,778 
 Commercial leases 3,467 3,531 3,326 
Total commercial loans and leases 46,563 45,472 43,436 
 Residential mortgage loans 11,429 10,672 9,849 
 Home equity 10,377 10,719 11,048 
 Automobile loans 11,739 11,827 11,315 
 Credit card 1,943 1,978 1,856 
 Other consumer loans and leases  308 350 463 
Total consumer loans and leases 35,796 35,546 34,531 
Total portfolio loans and leases$82,359 81,018 77,967 
         

Total portfolio loans and leases are recorded net of unearned income, which totaled $838 million as of June 30, 2012, $942 million as of December 31, 2011, and $953 million as of June 30, 2011. 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 $67 million, $45 million, and $20 million as of June 30, 2012, December 31, 2011 and June 30, 2011, respectively.

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

                
       Balance of Loans 90 Net
  Balance Days or More Past Due Charge-Offs
($ in millions) 20122011 20122011 20122011
Commercial and industrial loans$32,625 28,155 $2 7 $100 159 
Commercial mortgage loans 9,697 10,331  22 12  55 101 
Commercial construction loans 834 1,805  0 48  18 46 
Commercial leases 3,471 3,326  0  1  7 (1) 
Residential mortgage loans 13,218 10,838  80 87  73 101 
Home equity loans 10,377 11,048  67 84  85 117 
Automobile loans 11,739 11,315  8 10  16 28 
Credit card 1,943 1,856  24 30  38 59 
Other consumer loans and leases 318 478  0 0  9 61 
Total loans and leases$84,222 79,152 $203 279 $401 671 
Less: Loans held for sale$1,863 1,185           
Total portfolio loans and leases$82,359 77,967