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Credit Quality and the Allowance for Loan and Lease Losses (Tables)
 6 Months Ended
Jun. 30, 2013
Credit Quality and the Allowance for Loan and Leases Losses  
Summary of Transactions in the ALLL
The following tables summarize transactions in the ALLL by portfolio segment:
             
             
             
For the three months ended June 30, 2013   Residential      
($ in millions) CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:           
 Balance, beginning of period$ 1,191  212  272  108  1,783 
 Losses charged off  (59)  (18)  (68)  -   (145) 
 Recoveries of losses previously charged off  14  3  16  -   33 
 Provision for loan and lease losses  37  4  27  (4)  64 
Balance, end of period$ 1,183  201  247  104  1,735 
             
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 six months ended June 30, 2013   Residential      
($ in millions) CommercialMortgageConsumerUnallocatedTotal
Transactions in the ALLL:           
 Balance, beginning of period$ 1,236  229  278  111  1,854 
 Losses charged off  (128)  (40)  (145)  -   (313) 
 Recoveries of losses previously charged off  29  5  34  -   68 
 Provision for loan and lease losses  46  7  80  (7)  126 
Balance, end of period$ 1,183  201  247  104  1,735 
             
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 
             
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, 2013 ($ in millions) CommercialMortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 89 (c) 134  59  -   282 
 Collectively evaluated for impairment  1,094  66  188  -   1,348 
 Loans acquired with deteriorated credit quality  -   1  -   -   1 
 Unallocated  -   -   -   104  104 
Total ALLL$ 1,183  201  247  104  1,735 
Loans and leases:(b)           
 Individually evaluated for impairment$ 924 (c) 1,306  527  -   2,757 
 Collectively evaluated for impairment  49,696  11,006  23,485  -   84,187 
 Loans acquired with deteriorated credit quality  -   5  -   -   5 
Total portfolio loans and leases$ 50,620  12,317  24,012  -   86,949 

  • Includes $10 related to leveraged leases.
  • Excludes $83 of residential mortgage loans measured at fair value, and includes $872 of leveraged leases, net of unearned income.
  • Includes five restructured nonaccrual loans at June 30, 2013 associated with a consolidated variable interest entity, in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party, with a recorded investment of $29 and an allowance of $11.

             
    Residential      
As of December 31, 2012 ($ in millions) Commercial MortgageConsumerUnallocatedTotal
ALLL:(a)           
 Individually evaluated for impairment$ 95  137  62 -  294 
 Collectively evaluated for impairment  1,140  91  216 -  1,447 
 Loans acquired with deteriorated credit quality  1  1 - -  2 
 Unallocated - - -  111  111 
Total ALLL$ 1,236  229  278  111  1,854 
Loans and leases:(b)           
 Individually evaluated for impairment$ 980  1,298  544 -  2,822 
 Collectively evaluated for impairment  48,407  10,637  23,833 -  82,877 
 Loans acquired with deteriorated credit quality  1  6  -  -  7 
Total portfolio loans and leases$ 49,388  11,941  24,377  -   85,706 

  • Includes $11 related to leveraged leases.
  • Excludes $76 of residential mortgage loans measured at fair value, and includes $862 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, 2013 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 35,263  857  1,724 12  37,856 
Commercial mortgage owner occupied loans  4,005  240  473  -   4,718 
Commercial mortgage non-owner occupied loans  2,758  315  652  -   3,725 
Commercial construction loans  533  58  163  -   754 
Commercial leases  3,486  39  42  -   3,567 
Total$ 46,045  1,509  3,054  12  50,620 

            
    Special      
As of December 31, 2012 ($ in millions) PassMentionSubstandardDoubtfulTotal
Commercial and industrial loans$ 33,521  1,113  1,379  25  36,038 
Commercial mortgage owner occupied loans  3,934  338  603  1  4,876 
Commercial mortgage non-owner occupied loans  2,958  449  815  5  4,227 
Commercial construction loans  444  59  195  -  698 
Commercial leases  3,483  48  18  -  3,549 
Total$ 44,340  2,007  3,010  31  49,388 
            

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, 2013December 31, 2012
($ in millions) PerformingNonperformingPerformingNonperforming
Residential mortgage loans(a)$ 12,115  202  11,704  237 
Home equity  9,486  45  9,965  53 
Automobile loans  12,013  2  11,970  2 
Credit card  2,077  37  2,058  39 
Other consumer loans and leases  352  -   289  1 
Total$ 36,043  286  35,986  332 

  • Excludes $83 and $76 of loans measured at fair value at June 30, 2013 and December 31, 2012, respectively.
Summary by Age and Class of the Recorded Investment in Delinquencies Included in the Bancorp's Portfolio of Loans and Leases
Age Analysis of Past Due Loans and Leases     
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, 2013 Loans and  30-89 andTotal Total LoansDue and Still
($ in millions) Leases(c) Days(c)Greater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $37,691 15 150 165 37,856 0 
 Commercial mortgage owner occupied loans 4,628 6 84 90 4,718 0 
 Commercial mortgage non-owner occupied loans 3,646 11 68 79 3,725 0 
 Commercial construction loans 712 0 42 42 754 0 
 Commercial leases 3,560 0 7 7 3,567 0 
Residential mortgage loans(a) (b) 11,985 65 267 332 12,317 71 
Consumer:             
 Home equity 9,330 107 94 201 9,531 48 
 Automobile loans 11,958 48 9 57 12,015 6 
 Credit card 2,052 32 30 62 2,114 27 
 Other consumer loans and leases  350 2 0 2 352 0 
Total portfolio loans and leases(a) (d)$85,912 286 751 1,037 86,949 152 

  • Excludes $83 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, 2013, $68 of these loans were 30-89 days past due and $403 were 90 days or more past due. The Bancorp recognized $1 of losses during the three and six months ended June 30, 2013 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 days and 90 days past due and accruing whose repayments are insured by the SBA at June 30, 2013.

               
     Past Due    
   Current   90 Days     90 Days Past
As of December 31, 2012 Loans and  30-89andTotal Total LoansDue and Still
($ in millions) Leases(c) Days(c)Greater(c)Past Dueand LeasesAccruing
Commercial:             
 Commercial and industrial loans $35,826 46 166 212 36,038 1 
 Commercial mortgage owner occupied loans 4,752 29 95 124 4,876 22 
 Commercial mortgage non-owner occupied loans 4,094 21 112 133 4,227 0 
 Commercial construction loans 622 0 76 76 698 1 
 Commercial leases 3,546 2 1 3 3,549 0 
Residential mortgage loans(a) (b) 11,547 87 307 394 11,941 75 
Consumer:             
 Home equity 9,782 126 110 236 10,018 58 
 Automobile loans 11,900 62 10 72 11,972 8 
 Credit card 2,025 38 34 72 2,097 30 
 Other consumer loans and leases  287 2 1 3 290 0 
Total portfolio loans and leases(a) (d)$84,381 413 912 1,325 85,706 195 

  • 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 December 31, 2012, $80 of these loans were 30-89 days past due and $414 were 90 days or more past due. The Bancorp recognized $2 of losses for the year ended December 31, 2012 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 SBA at December 31, 2012.

 
Summarizes the Bancorp's Recorded Investment in Impaired Loans and Related Allowance by Class
The following tables summarize the Bancorp’s impaired loans and leases (by class) that were subject to individual review, which includes all loans and leases restructured in a troubled debt restructuring:
          
    Unpaid    
As of June 30, 2013  PrincipalRecorded   
($ in millions)  BalanceInvestmentAllowance
With a related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $278 205 60 
 Commercial mortgage owner occupied loans(b)  43 33 5 
 Commercial mortgage non-owner occupied loans  114 86 9 
 Commercial construction loans  68 55 4 
 Commercial leases   1  1  - 
Restructured residential mortgage loans  1,054 1,019 134 
Restructured consumer:        
 Home equity  397 393 42 
 Automobile loans  26 26 6 
 Credit card  65 65 11 
 Other consumer loans and leases   2 2  - 
Total impaired loans and leases with a related allowance $2,048 1,885 271 
With no related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $156 117  - 
 Commercial mortgage owner occupied loans  108 101  - 
 Commercial mortgage non-owner occupied loans  248 229  - 
 Commercial construction loans  86 58  - 
 Commercial leases  10 10  - 
Restructured residential mortgage loans  335 287  - 
Restructured consumer:        
 Home equity  41 38  - 
 Automobile loans  3 3  - 
Total impaired loans and leases with no related allowance  987 843  - 
Total impaired loans and leases $3,035 2,728 (a)271 

  • Includes $475, $1,201 and $470, respectively, of commercial, residential mortgage and consumer TDRs on accrual status; $196, $105 and $57, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.
  • Excludes five restructured nonaccrual loans at June 30, 2013 associated with a consolidated variable interest entity, in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party, with an unpaid principal balance of $29, a recorded investment of $29, and an allowance of $11.

          
    Unpaid    
As of December 31, 2012  PrincipalRecorded   
($ in millions)  BalanceInvestmentAllowance
With a related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $263 194 65 
 Commercial mortgage owner occupied loans  54 43 5 
 Commercial mortgage non-owner occupied loans  215 160 16 
 Commercial construction loans  48 37 5 
 Commercial leases  8 8 5 
Restructured residential mortgage loans  1,067 1,023 137 
Restructured consumer:        
 Home equity  400 396 46 
 Automobile loans  31 30 4 
 Credit card  74 74 12 
 Other consumer loans and leases   2 2  - 
Total impaired loans and leases with a related allowance $2,162 1,967 295 
With no related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $207 169  - 
 Commercial mortgage owner occupied loans  107 99  - 
 Commercial mortgage non-owner occupied loans  209 199  - 
 Commercial construction loans  109 67  - 
 Commercial leases  5 5  - 
Restructured residential mortgage loans  326 275  - 
Restructured consumer:        
 Home equity  40 39  - 
 Automobile loans  3 3  - 
Total impaired loans and leases with no related allowance  1,006 856  - 
Total impaired loans and leases $3,168 2,823 (a)295 

  • Includes $431, $1,175 and $480, respectively, of commercial, residential mortgage and consumer TDRs on accrual status;$177, $123 and $64, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.

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, 2013 June 30, 2013
     AverageInterest AverageInterest
     RecordedIncome RecordedIncome
($ in millions)   InvestmentRecognized InvestmentRecognized
Commercial:           
 Commercial and industrial loans   $318 2 $329 4
 Commercial mortgage owner occupied loans(a)   136 1  138 2
 Commercial mortgage non-owner occupied loans   315 2  328 4
 Commercial construction loans   114 1  112 2
 Commercial leases   10  -  11  -
Restructured residential mortgage loans   1,308 13  1,307 26
Restructured consumer:           
 Home equity   434 5  437 11
 Automobile loans   29  -  31  -
 Credit card   68 1  71 2
 Other consumer loans and leases     2  -   2  -
Total impaired loans and leases  $2,734 25 $2,766 51

  • Excludes five restructured nonaccrual loans, associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party, with an average recorded investment of $30 and an immaterial amount of interest income recognized for the three and six months ended June 30, 2013.

     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 non-owner 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
Total impaired loans and leases  $3,012 32 $3,005 56
Summarizes the Bancorp's Average Impaired Loans and Leases and Interest Income by Class
The following tables summarize the Bancorp’s impaired loans and leases (by class) that were subject to individual review, which includes all loans and leases restructured in a troubled debt restructuring:
          
    Unpaid    
As of June 30, 2013  PrincipalRecorded   
($ in millions)  BalanceInvestmentAllowance
With a related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $278 205 60 
 Commercial mortgage owner occupied loans(b)  43 33 5 
 Commercial mortgage non-owner occupied loans  114 86 9 
 Commercial construction loans  68 55 4 
 Commercial leases   1  1  - 
Restructured residential mortgage loans  1,054 1,019 134 
Restructured consumer:        
 Home equity  397 393 42 
 Automobile loans  26 26 6 
 Credit card  65 65 11 
 Other consumer loans and leases   2 2  - 
Total impaired loans and leases with a related allowance $2,048 1,885 271 
With no related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $156 117  - 
 Commercial mortgage owner occupied loans  108 101  - 
 Commercial mortgage non-owner occupied loans  248 229  - 
 Commercial construction loans  86 58  - 
 Commercial leases  10 10  - 
Restructured residential mortgage loans  335 287  - 
Restructured consumer:        
 Home equity  41 38  - 
 Automobile loans  3 3  - 
Total impaired loans and leases with no related allowance  987 843  - 
Total impaired loans and leases $3,035 2,728 (a)271 

  • Includes $475, $1,201 and $470, respectively, of commercial, residential mortgage and consumer TDRs on accrual status; $196, $105 and $57, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.
  • Excludes five restructured nonaccrual loans at June 30, 2013 associated with a consolidated variable interest entity, in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party, with an unpaid principal balance of $29, a recorded investment of $29, and an allowance of $11.

          
    Unpaid    
As of December 31, 2012  PrincipalRecorded   
($ in millions)  BalanceInvestmentAllowance
With a related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $263 194 65 
 Commercial mortgage owner occupied loans  54 43 5 
 Commercial mortgage non-owner occupied loans  215 160 16 
 Commercial construction loans  48 37 5 
 Commercial leases  8 8 5 
Restructured residential mortgage loans  1,067 1,023 137 
Restructured consumer:        
 Home equity  400 396 46 
 Automobile loans  31 30 4 
 Credit card  74 74 12 
 Other consumer loans and leases   2 2  - 
Total impaired loans and leases with a related allowance $2,162 1,967 295 
With no related allowance recorded:        
Commercial:        
 Commercial and industrial loans  $207 169  - 
 Commercial mortgage owner occupied loans  107 99  - 
 Commercial mortgage non-owner occupied loans  209 199  - 
 Commercial construction loans  109 67  - 
 Commercial leases  5 5  - 
Restructured residential mortgage loans  326 275  - 
Restructured consumer:        
 Home equity  40 39  - 
 Automobile loans  3 3  - 
Total impaired loans and leases with no related allowance  1,006 856  - 
Total impaired loans and leases $3,168 2,823 (a)295 

  • Includes $431, $1,175 and $480, respectively, of commercial, residential mortgage and consumer TDRs on accrual status;$177, $123 and $64, respectively, of commercial, residential mortgage and consumer TDRs on nonaccrual status.

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, 2013 June 30, 2013
     AverageInterest AverageInterest
     RecordedIncome RecordedIncome
($ in millions)   InvestmentRecognized InvestmentRecognized
Commercial:           
 Commercial and industrial loans   $318 2 $329 4
 Commercial mortgage owner occupied loans(a)   136 1  138 2
 Commercial mortgage non-owner occupied loans   315 2  328 4
 Commercial construction loans   114 1  112 2
 Commercial leases   10  -  11  -
Restructured residential mortgage loans   1,308 13  1,307 26
Restructured consumer:           
 Home equity   434 5  437 11
 Automobile loans   29  -  31  -
 Credit card   68 1  71 2
 Other consumer loans and leases     2  -   2  -
Total impaired loans and leases  $2,734 25 $2,766 51

  • Excludes five restructured nonaccrual loans, associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party, with an average recorded investment of $30 and an immaterial amount of interest income recognized for the three and six months ended June 30, 2013.

     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 non-owner 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
Total impaired loans and leases  $3,012 32 $3,005 56
Summary of the Bancorp's Nonperforming Loans and Leases by Class
       
Nonperforming Assets
Nonperforming assets include nonaccrual loans and leases for which ultimate collectability of the full amount of the principal and/or interest is uncertain; restructured commercial and credit card loans which have not yet met the requirements to be classified as a performing asset; restructured consumer loans which are 90 days past due based on the restructured terms unless the loan is both well-secured and in the process of collection; and certain other assets, including OREO and other repossessed property. The following table summarizes the Bancorp’s nonperforming loans and leases, by class, as of:
       
   June 30,December 31,
($ in millions) 20132012
Commercial:     
 Commercial and industrial loans $344 330 
 Commercial mortgage owner occupied loans(a)  124 125 
 Commercial mortgage non-owner occupied loans 104 157 
 Commercial construction loans 43 76 
 Commercial leases 8 9 
Total commercial loans and leases 623 697 
Residential mortgage loans 201 237 
Consumer:     
 Home equity 46 53 
 Automobile loans 2 2 
 Credit card 37 39 
 Other consumer loans and leases   - 1 
Total consumer loans and leases 85 95 
Total nonperforming loans and leases(b) (c)$909 1,029 
OREO and other repossessed property(d) 241 257 

  • Excludes $22 of restructured nonaccrual loans at June 30, 2013 associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party.
  • Excludes $15 and $29 of nonaccrual loans held for sale at June 30, 2013 and December 31, 2012, respectively.
  • Includes $12 and $10 of nonaccrual government insured commercial loans whose repayments are insured by the SBA at June 30, 2013 and December 31, 2012, respectively, and $1 of restructured nonaccrual government insured commercial loans at both June 30, 2013 and December 31, 2012.
  • Excludes $66 and $72 of OREO related to government insured loans at June 30, 2013 and December 31, 2012, respectively.

 
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:
           
    Recorded investmentIncrease  
  Number of loansin loans modified(Decrease)Charge-offs
  modified in a TDRin a TDR to ALLL uponrecognized upon
June 30, 2013 ($ in millions)(a)during the period(b)during the periodmodificationmodification
Commercial:         
 Commercial and industrial loans 43 $112  (1)  - 
 Commercial mortgage owner occupied loans(c)14  5  -  - 
 Commercial mortgage non-owner occupied loans19  37  (3)  - 
 Commercial construction loans1   1  -  - 
Residential mortgage loans420  68 8  - 
Consumer:         
 Home equity178  11  (1)  - 
 Automobile loans133  3 1  - 
 Credit card2,180  13 2  - 
Total portfolio loans and leases2,988 $250  6  - 
           
    Recorded investmentIncrease  
  Number of loansin loans modified(Decrease)Charge-offs
  modified in a TDRin a TDR to ALLL uponrecognized upon
June 30, 2012 ($ in millions)(a)during the period(b)during the periodmodificationmodification
Commercial:         
 Commercial and industrial loans 11 $10  (6)  - 
 Commercial mortgage owner occupied loans9  7  (1)  - 
 Commercial mortgage non-owner occupied loans10  16  (6)  - 
 Commercial construction loans -   -  (4)  - 
Residential mortgage loans557  91  8  - 
Consumer:         
 Home equity359  23  1  - 
 Automobile loans222  4  1  - 
 Credit card2,991  20  3  - 
Total portfolio loans and leases4,159 $171  (4)  - 

  • Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality.
  • Represents number of loans post-modification.
  • Excludes five loans modified in a TDR during the three months ended June 30, 2013 associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party. The TDR has a recorded investment of $29, ALLL increased $7 upon modification, and a charge-off of $2 was recognized upon modification.

 

The following table provides a summary of loans modified in a TDR by the Bancorp during the six months ended:
           
    Recorded investmentIncrease  
  Number of loansin loans modified(Decrease)Charge-offs
 modified in a TDRin a TDR to ALLL uponrecognized upon
June 30, 2013 ($ in millions)(a)during the period(b)during the periodmodificationmodification
Commercial:         
 Commercial and industrial loans 63 $121  -  1 
 Commercial mortgage owner-occupied loans(c)24  9  (1)  -  
 Commercial mortgage nonowner-occupied loans34  54  (5)  -  
 Commercial construction loans2  7  (1)  -  
Residential mortgage loans814  129 16  -  
Consumer:         
 Home equity504  27  -   -  
 Automobile loans248  9 1  -  
 Credit card4,492  28 4  -  
Total portfolio loans and leases6,181 $384  14 1 
           
    Recorded investmentIncrease  
  Number of loansin loans modified(Decrease)Charge-offs
 modified in a TDRin a TDR to ALLL uponrecognized upon
June 30, 2012 ($ in millions)(a)during the period(b)during the periodmodificationmodification
Commercial:         
 Commercial and industrial loans 41 $25  (9)  -  
 Commercial mortgage owner-occupied loans36  15  (3)  -  
 Commercial mortgage nonowner-occupied loans40  67  (5)  -  
 Commercial construction loans11  36  (4)  -  
Residential mortgage loans1,037  169 15  -  
Consumer:         
 Home equity670  42 2  -  
 Automobile loans561  9 2  -  
 Credit card5,732  38 5  -  
Total portfolio loans and leases8,128 $401  3  -  

  • Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality.
  • Represents number of loans post-modification.
  • Excludes five loans modified in a TDR during the six months ended June 30, 2013 associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party. The TDR has a recorded investment of $29, ALLL increased $7 upon modification, and a charge-off of $2 was recognized upon modification
Summary of Subsequent Defaults
The following table provides a summary of subsequent defaults of TDRs that occurred during the three months ended June 30, 2013 and 2012 and within 12 months of the restructuring date:
       
  Number of Recorded
June 30, 2013 ($ in millions)(a)Contracts Investment
Commercial:     
 Commercial and industrial loans 1 $ - 
 Commercial mortgage owner occupied loans4  1 
Residential mortgage loans55  8 
Consumer:     
 Home equity20  1 
 Credit card411   2 
Total portfolio loans and leases491 $12 
       
  Number of Recorded
June 30, 2012 ($ in millions)(a)Contracts Investment
Commercial:     
 Commercial mortgage owner occupied loans2 $1 
 Commercial mortgage non-owner occupied loans1   - 
Residential mortgage loans62  14 
Consumer:     
 Home equity17  1 
 Automobile loans9   - 
 Credit card432   3 
Total portfolio loans and leases523 $19 

  • Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality.

The following table provides a summary of subsequent defaults that occurred during the six months ended June 30, 2013 and 2012 and within 12 months of the restructuring date:
       
  Number of Recorded
June 30, 2013 ($ in millions)(a)Contracts Investment
Commercial:     
 Commercial and industrial loans 2 $0 
 Commercial mortgage owner-occupied loans4  1 
Residential mortgage loans226  37 
Consumer:     
 Home equity34  2 
 Automobile loans3   - 
 Credit card926   6 
Total portfolio loans and leases1,195 $46 
       
  Number of Recorded
June 30, 2012 ($ 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 card1,009  7 
Total portfolio loans and leases1,210 $40 

  • Excludes all loans and leases held for sale and loans acquired with deteriorated credit quality.