Loans and Leases

3 Months Ended

Mar. 31, 2015

Loans and Leases Receivable

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, refer to Note 6.

The following table provides a summary of the total loans and leases classified by primary purpose as of:
			March 31,	December 31,
($ in millions)			2015	2014
Loans and leases held for sale:
	Commercial and industrial loans	$	10	36
	Commercial mortgage loans		1	11
	Commercial construction loans		1	2
	Commercial leases		1	1
	Residential mortgage loans		689	1,193
	Other consumer loans and leases		22	18
Total loans and leases held for sale		$	724	1,261
Portfolio loans and leases:
	Commercial and industrial loans	$	42,052	40,765
	Commercial mortgage loans		7,209	7,399
	Commercial construction loans		2,302	2,069
	Commercial leases		3,786	3,720
Total commercial loans and leases			55,349	53,953
	Residential mortgage loans		12,569	12,389
	Home equity		8,714	8,886
	Automobile loans		11,873	12,037
	Credit card		2,291	2,401
	Other consumer loans and leases		448	418
Total consumer loans and leases			35,895	36,131
Total portfolio loans and leases		$	91,244	90,084

Total portfolio loans and leases are recorded net of unearned income, which totaled $649million as of March 31, 2015 and$665million as of December 31, 2014.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 at fair value upon origination) which totaled a net premium of $182 million and$169 million as of March 31, 2015and December 31, 2014,respectively.

The Bancorp's FHLB and FRB advances are generally secured by loans. The Bancorp had loans of $11.2 billion and $11.1 billion at March 31, 2015 and December 31, 2014, respectively, pledged at the FHLB, and loans of $32.8billion and $33.9 billion at March 31, 2015 and December 31, 2014, respectively, pledged at the FRB.

The following table presents a summary of the total loans and leases owned by the Bancorp as of:
					90 Days Past Due
		Balance			and Still Accruing
		March 31,	December 31,		March 31,	December 31,
($ in millions)		2015	2014		2015	2014
Commercial and industrial loans	$	42,062	40,801		2	-
Commercial mortgage loans		7,210	7,410		1	-
Commercial construction loans		2,303	2,071		-	-
Commercial leases		3,787	3,721		-	-
Residential mortgage loans		13,258	13,582		48	56
Home equity		8,714	8,886		-	-
Automobile loans		11,873	12,037		7	8
Credit card		2,291	2,401		20	23
Other consumer loans and leases		470	436		-	-
Total loans and leases	$	91,968	91,345		78	87
Less: Loans held for sale	$	724	1,261
Total portfolio loans and leases	$	91,244	90,084
The following table presents a summary of net charge-offs for the three months ended March 31:
($ in millions)					2015	2014
Commercial and industrial loans				$	38	97
Commercial mortgage loans					1	3
Commercial construction loans					-	5
Residential mortgage loans					6	15
Home equity					14	16
Automobile loans					8	8
Credit card					21	19
Other consumer loans and leases					3	5
Total				$	91	168