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Credit Quality and the Allowance for Loan and Lease Losses (Tables)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2012
Summary of Transactions in the ALLL  

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

              
              
For the three months ended June 30, 2012    Residential      
($ in millions)  CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:            
 Balance, beginning of period $ 1,424  233  341  128  2,126 
 Losses charged off   (95)  (38)  (86)  -  (219) 
 Recoveries of losses previously charged off   17  2  19  -  38 
 Provision for loan and lease losses   1  35  42  (7)  71 
Balance, end of period $ 1,347  232  316  121  2,016 
              
For the three months ended June 30, 2011    Residential      
($ in millions)  CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:            
 Balance, beginning of period $ 1,855  286  519  145  2,805 
 Losses charged off   (158)  (37)  (148)  -  (343) 
 Recoveries of losses previously charged off   17  1  21  -  39 
 Provision for loan and lease losses   50  18  60  (15)  113 
Balance, end of period $ 1,764  268  452  130  2,614 
              
For the six months ended June 30, 2012    Residential      
($ in millions)  CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:            
 Balance, beginning of period $ 1,527  227  365  136  2,255 
 Losses charged off   (211)  (76)  (185)  -  (472) 
 Recoveries of losses previously charged off   33  3  35  -  71 
 Provision for loan and lease losses   (2)  78  101  (15)  162 
Balance, end of period $ 1,347  232  316  121  2,016 
              
For the six months ended June 30, 2011    Residential      
($ in millions)  CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:            
 Balance, beginning of period $ 1,989  310  555  150  3,004 
 Losses charged off   (334)  (104)  (302)  -  (740) 
 Recoveries of losses previously charged off   29  3  37  -  69 
 Provision for loan and lease losses   80  59  162  (20)  281 
Balance, end of period $ 1,764  268  452  130  2,614 
              
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 June 30, 2012 ($ in millions) CommercialMortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 116  129  63  -  308 
 Collectively evaluated for impairment  1,230  102  253  -  1,585 
 Loans acquired with deteriorated credit quality  1  1  -  -  2 
 Unallocated  -  -  -  121  121 
Total ALLL$ 1,347  232  316  121  2,016 
Loans and leases:(b)           
 Individually evaluated for impairment$ 1,198  1,265  562  -  3,025 
 Collectively evaluated for impairment  45,363  10,080  23,805  -  79,248 
 Loans acquired with deteriorated credit quality  2  8  -  -  10 
Total portfolio loans and leases$ 46,563  11,353  24,367  -  82,283 

  • Includes $15 related to leveraged leases.
  • Excludes $76 of residential mortgage loans measured at fair value, and includes $967 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 June 30, 2011 ($ in millions) Commercial MortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 245  126  74 -  445 
 Collectively evaluated for impairment  1,518  141  378 -  2,037 
 Loans acquired with deteriorated credit quality  1  1 - -  2 
 Unallocated - - -  130  130 
Total ALLL$ 1,764  268  452  130  2,614 
Loans and leases:(b)           
 Individually evaluated for impairment$ 1,181  1,220  589 -  2,990 
 Collectively evaluated for impairment  42,252  8,559  24,093 -  74,904 
 Loans acquired with deteriorated credit quality  3  11  - -  14 
Total portfolio loans and leases$ 43,436  9,790  24,682  -  77,908 

  • Includes $18 related to leveraged leases.
  • Excludes $59 of residential mortgage loans measured at fair value, includes $1,015 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 June 30, 2012 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 29,379  1,575  1,626 32  32,612 
Commercial mortgage loans owner-occupied  3,902  491  752  7  5,152 
Commercial mortgage loans nonowner-occupied  3,015  559  922  14  4,510 
Commercial construction loans  364  170  285  3  822 
Commercial leases  3,388  56  23  -  3,467 
Total$ 40,048  2,851  3,608  56  46,563 

            
    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 June 30, 2011 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 24,268  1,594  2,077  160  28,099 
Commercial mortgage loans owner-occupied  3,995  430  779  25  5,229 
Commercial mortgage loans nonowner-occupied  3,195  640  1,134  35  5,004 
Commercial construction loans  948  303  473  54  1,778 
Commercial leases  3,232  52  40  2  3,326 
Total$ 35,638  3,019  4,503  276  43,436 
            

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

              
  June 30, 2012December 31, 2011June 30, 2011
($ in millions) PerformingNonperformingPerformingNonperformingPerformingNonperforming
Residential mortgage loans(a)$ 11,093  260  10,332  275  9,518  272 
Home equity  10,323  54  10,665  54  10,990  58 
Automobile loans  11,736  3  11,825  2  11,312  3 
Credit card  1,901  42  1,930  48  1,806  50 
Other consumer loans and leases  308  -  349  1  460  3 
Total$ 35,361  359  35,101  380  34,086  386 

  • Excludes $76, $65, and $59 of loans measured at fair value at June 30, 2012, December 31, 2011, and June 30, 2011, respectivel
Delinquent Loans And Leases Summary Description Disclosure [Text Block]  

The following tables summarize the Bancorp's recorded investment in portfolio loans and leases by age and class:

               
     Past Due    
   Current  90 Days     90 Days Past
As of June 30, 2012 Loans and 30-89 andTotal Total LoansDue and Still
($ in millions) LeasesDaysGreater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $32,360 41 211 252 32,612 2 
 Commercial mortgage owner-occupied loans 4,992 28 132 160 5,152 22 
 Commercial mortgage nonowner-occupied loans 4,306 36 168 204 4,510 0 
 Commercial construction loans 714 3 105 108 822 0 
 Commercial leases 3,464 1 2 3 3,467 0 
Residential mortgage loans(a) (b) 10,917 99 337 436 11,353 80 
Consumer:             
 Home equity 10,131 125 121 246 10,377 67 
 Automobile loans 11,680 49 10 59 11,739 8 
 Credit card 1,851 40 52 92 1,943 24 
 Other consumer loans and leases  308 0 0 0 308 0 
Total portfolio loans and leases(a) (d)$80,723 422 1,138 1,560 82,283 203 

  • Excludes $76 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 June 30, 2012, $50 of these loans were 30-89 days past due and $359 were 90 days or more past due. The Bancorp recognized $2 of losses for the three and six months ended June 30, 2012 due to claim denials and curtailments associated with these advances.
  • Includes accrual and nonaccrual loans and leases.
  • Includes $1 of government insured commercial loans 30-89 days past due and accruing whose repayments are insured by the Small Business Administration at June 30, 2012 and an immaterial amount of government insured commercial loans 90 days past due and still accruing.

               
     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) (d)$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.
  • Includes an immaterial amount of government insured commercial loans 30-89 and 90 days past due and accruing whose repayments are insured by the Small Business Administration at December 31, 2011.

 

               
     Past Due    
   Current  90 Days     90 Days Past
As of June 30, 2011 Loans and 30-89andTotal Total LoansDue and Still
($ in millions) LeasesDaysGreater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $27,737 70 292 362 28,099 7 
 Commercial mortgage owner-occupied loans 5,064 41 124 165 5,229 8 
 Commercial mortgage nonowner-occupied loans 4,746 37 221 258 5,004 4 
 Commercial construction loans 1,556 40 182 222 1,778 48 
 Commercial leases 3,314 3 9 12 3,326 1 
Residential mortgage loans(a) (b) 9,334 102 354 456 9,790 87 
Consumer:             
 Home equity 10,775 130 143 273 11,048 84 
 Automobile loans 11,234 68 13 81 11,315 10 
 Credit card 1,755 28 73 101 1,856 30 
 Other consumer loans and leases  459 1 3 4 463 0 
Total portfolio loans and leases(a) (d)$75,974 520 1,414 1,934 77,908 279 

(a) Excludes $59 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 June 30, 2011, $28 of these loans were 30-89 days past due and $271 were 90 days or more past due. The Bancorp recognized an immaterial amount of losses for the three months ended June 30, 2011 and $1 million for the six months ended June 30, 2011 due to claim denials and curtailments associated with these advances.

(c) Includes accrual and nonaccrual loans and leases.

(d) Includes $1 of government insured loans 30-89 days past due and accruing of government insured commercial loans whose repayments are insured by the Small Business Administration at June 30, 2011 and an immaterial amount of government insured commercial loans 90 days past due and still accruing.
Impaired Loans And Valuation Allowance By Class Disclosure [Text Block]

(a) Includes $266, $1,088, and $505, respectively, of commercial, residential mortgage and consumer TDRs on accrual status; $188, $127 and $84, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.

 

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

           
    Unpaid     
As of June 30, 2012  PrincipalRecorded    
($ in millions)  BalanceInvestment(a)Allowance 
With a related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $284 198 80  
 Commercial mortgage owner-occupied loans  68 55 8  
 Commercial mortgage nonowner-occupied loans  229 174 19  
 Commercial construction loans  152 108 9  
 Commercial leases  12 4 1  
Restructured residential mortgage loans  1,045 996 129  
Restructured consumer:         
 Home equity  404 401 45  
 Automobile loans  36 36 5  
 Credit card  97 84 13  
Total impaired loans with a related allowance $2,327 2,056 309  
With no related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $334 260 0  
 Commercial mortgage owner-occupied loans  130 117 0  
 Commercial mortgage nonowner-occupied loans  264 209 0  
 Commercial construction loans  115 68 0  
 Commercial leases  7 7 0  
Restructured residential mortgage loans  323 269 0  
Restructured consumer:         
 Home equity  40 38 0  
 Automobile loans  3 3 0  
Total impaired loans with no related allowance  1,216 971 0  
Total impaired loans and leases $3,543 3,027 309  

  • Includes $455, $1,140 and $494, respectively, of commercial, residential mortgage and consumer TDRs on accrual status; $147, $125 and $68, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.

           
    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 June 30, 2011  PrincipalRecorded    
($ in millions)  BalanceInvestment(a)Allowance 
With a related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $414 394 184  
 Commercial mortgage owner-occupied loans  49 38 5  
 Commercial mortgage nonowner-occupied loans  208 162 30  
 Commercial construction loans  207 156 19  
 Commercial leases  12 19 8  
Restructured residential mortgage loans  1,101 1,053 127  
Restructured consumer:         
 Home equity  392 389 50  
 Automobile loans  36 36 5  
 Credit card  105 96 18  
 Other consumer loans and leases   5 5 1  
Total impaired loans with a related allowance $2,529 2,348 447  
With no related allowance recorded:         
Commercial:         
 Commercial and industrial loans  $210 155 0  
 Commercial mortgage owner-occupied loans  60 83 0  
 Commercial mortgage nonowner-occupied loans  148 139 0  
 Commercial construction loans  70 34 0  
 Commercial leases  4 4 0  
Restructured residential mortgage loans  221 178 0  
Restructured consumer:         
 Home equity  62 59 0  
 Automobile loans  4 4 0  
Total impaired loans with no related allowance  779 656 0  
Total impaired loans and leases $3,308 3,004 447  
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 For the six months ended
     June 30, 2012 June 30, 2012
     AverageInterest AverageInterest
     RecordedIncome RecordedIncome
($ in millions)   InvestmentRecognized InvestmentRecognized
Commercial:            
 Commercial and industrial loans   $467 1 $481 2 
 Commercial mortgage owner-occupied loans   164 1  152 2 
 Commercial mortgage nonowner-occupied loans   361 2  341 4 
 Commercial construction loans   177 1  190 2 
 Commercial leases   10 0  11 0 
Restructured residential mortgage loans   1,270 13  1,266 25 
Restructured consumer:            
 Home equity   438 12  441 18 
 Automobile loans   39 1  40 1 
 Credit card   86 1  83 2 
 Other consumer loans and leases    0 0  0 0 
Total impaired loans and leases  $3,012 32 $3,005 56 

              
     For the three months ended For the six months ended
     June 30, 2011 June 30, 2011
     AverageInterest AverageInterest
     RecordedIncome RecordedIncome
($ in millions)   InvestmentRecognized InvestmentRecognized
Commercial:            
 Commercial and industrial loans   $521 12  495 25 
 Commercial mortgage owner-occupied loans   121 5  126 10 
 Commercial mortgage nonowner-occupied loans   280 8  290 16 
 Commercial construction loans   197 6  183 11 
 Commercial leases   19 0  23 0 
Restructured residential mortgage loans   1,222 11  1,209 21 
Restructured consumer:            
 Home equity   440 11  444 17 
 Automobile loans   40 1  39 1 
 Credit card   100 1  98 2 
 Other consumer loans and leases    40 0  56 0 
Total impaired loans and leases  $2,980 55  2,963 103 
              
Summary of Loans Modified in a TDR  
           
    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 11 $10  (6) 0 
 Commercial mortgage owner-occupied loans9  7  (1) 0 
 Commercial mortgage nonowner-occupied loans10  16  (6) 0 
 Commercial construction loans0  0  (4) 0 
Residential mortgage loans557  91 8 0 
Consumer:         
 Home equity359  23 1 0 
 Automobile loans222  4 1 0 
 Credit card2,991  20 3 0 
Total portfolio loans and leases4,159 $171  (4) 0 

The following table provides a summary of loans modified in a TDR by the Bancorp during the six months ended June 30, 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 41 $25  (9) 0 
 Commercial mortgage owner-occupied loans36  15  (3) 0 
 Commercial mortgage nonowner-occupied loans40  67  (5) 0 
 Commercial construction loans11  36  (4) 0 
Residential mortgage loans1,037  169 15 0 
Consumer:         
 Home equity670  42 2 0 
 Automobile loans561  9 2 0 
 Credit card5,732  38 5 0 
Total portfolio loans and leases8,128 $401  3 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  
       
  Number of Recorded
($ in millions)(a)Contracts Investment
Commercial:     
 Commercial mortgage owner-occupied loans2 $1 
 Commercial mortgage nonowner-occupied loans1  0 
Residential mortgage loans62  14 
Consumer:     
 Home equity17  1 
 Automobile loans9  0 
 Credit card4  0 
Total portfolio loans and leases95 $16 

The following table provides a summary of subsequent defaults that occurred during the six months ended June 30, 2012 and within 12 months of the restructuring date:

       
  Number of Recorded
($ in millions)(a)Contracts Investment
Commercial:     
 Commercial mortgage owner-occupied loans2 $1 
 Commercial mortgage nonowner-occupied loans2  1 
 Commercial construction loans2  3 
Residential mortgage loans126  25 
Consumer:     
 Home equity48  3 
 Automobile loans21  0 
 Credit card21  0 
Total portfolio loans and leases222 $33 

  • 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:

 

         
   June 30,December 31,June 30,
($ in millions) 201220112011
Commercial:       
 Commercial and industrial loans $454 487 607 
 Commercial mortgage owner-occupied loans 174 170 286 
 Commercial mortgage nonowner-occupied loans 240 251 178 
 Commercial construction loans 112 138 160 
 Commercial leases 3 12 22 
Total commercial loans and leases 983 1,058 1,253 
Residential mortgage loans 260 275 272 
Consumer:       
 Home equity 54 54 58 
 Automobile loans 3 2 3 
 Credit card 42 48 50 
 Other consumer loans and leases  0 1 3 
Total consumer loans and leases 99 105 114 
Total nonperforming loans and leases(a) (c)$1,342 1,438 1,639 
OREO and other repossessed property(b) 277 378 449 

  • Excludes $60, $138 and $176 of nonaccrual loans held for sale at June 30, 2012, December 31, 2011 and June 30, 2011, respectively.
  • Excludes $70, $64 and $54 of OREO related to government insured loans at June 30, 2012, December 31, 2011 and June 30, 2011, respectively.
  • Includes $13, $17, and $20 of nonaccrual government insured commercial loans whose repayments are insured by the Small Business Administration at June 30, 2012, December 31, 2012, and June 30, 2011, respectively, and $1 and $2 of restructured nonaccrual government insured commercial loans at June 30, 2012 and December 31, 2011, respectively, and an immaterial amount at June 30, 2011.