Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2019

The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of:

			March 31,	December 31,
($ in millions)			2019	2018
Loans and leases held for sale:
	Commercial and industrial loans	$	63	67
	Commercial mortgage loans		3	3
	Residential mortgage loans		626	537
Total loans and leases held for sale		$	692	607
Portfolio loans and leases:
	Commercial and industrial loans	$	51,862	44,340
	Commercial mortgage loans		10,686	6,974
	Commercial construction loans		5,231	4,657
	Commercial leases		3,909	3,600
Total commercial loans and leases		$	71,688	59,571
	Residential mortgage loans	$	16,811	15,504
	Home equity		6,435	6,402
	Indirect secured consumer loans		10,031	8,976
	Credit card		2,388	2,470
	Other consumer loans		2,489	2,342
Total consumer loans		$	38,154	35,694
Total portfolio loans and leases		$	109,842	95,265

The following table presents a summary of the total loans and leases owned by the Bancorp as of:

					90 Days Past Due
		Carrying Value			and Still Accruing
		March 31,	December 31,		March 31,	December 31,
($ in millions)		2019	2018		2019	2018
Commercial and industrial loans	$	51,925	44,407		15	4
Commercial mortgage loans		10,689	6,977		20	2
Commercial construction loans		5,231	4,657		-	-
Commercial leases		3,909	3,600		-	-
Residential mortgage loans		17,437	16,041		48	38
Home equity		6,435	6,402		1	-
Indirect secured consumer loans		10,031	8,976		9	12
Credit card		2,388	2,470		38	37
Other consumer loans		2,489	2,342		1	-
Total loans and leases	$	110,534	95,872		132 ^(a)	93
Less: Loans and leases held for sale	$	692	607
Total portfolio loans and leases	$	109,842	95,265
(a) Total portfolio loans and leases 90 days past due and still accruing reflect a decrease of $4 million which occurred after the Bancorp’s Form 8-K was filed
on April 23, 2019.

The following table presents a summary of net charge-offs (recoveries) for the three months ended March 31:

($ in millions)					2019	2018
Commercial and industrial loans				$	18	28
Commercial mortgage loans					(1)	1
Residential mortgage loans					1	3
Home equity					3	5
Indirect secured consumer loans					13	11
Credit card					33	25
Other consumer loans					10	8
Total net charge-offs				$	77	81


The following table presents the components of the net investment in leases as of:

($ in millions)			March 31, 2019^(a)
Net investment in direct financing leases:
	Lease payment receivable (present value)	$	2,992
	Unguaranteed residual assets (present value)		261
	Net discount on acquired leases		(12)
	Deferred selling profits		-
Net investment in sales-type leases:
	Lease payment receivable (present value)		94
	Unguaranteed residual assets (present value)		4
	Net discount on acquired leases		(1)

(a) Excludes $571 of leveraged leases at March 31, 2019.


The following table presents the components of the commercial lease financing portfolio as of:

($ in millions)		December 31, 2018
Rentals receivable, net of principal and interest on nonrecourse debt	$	3,256
Estimated residual value of leased assets		804
Initial direct cost, net of amortization		19
Gross investment in commercial lease financing		4,079
Unearned income		(479)
Net investment in commercial lease financing	$	3,600

The following table presents undiscounted cash flows for both direct financing and sales-type leases for the remainder of 2019 through 2024 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

		Direct Financing Leases	Sales-Type Leases
As of March 31, 2019 ($ in millions)		Direct Financing Leases	Sales-Type Leases
Remainder of 2019	$	732	18
2020		749	17
2021		541	17
2022		441	16
2023		278	18
2024		192	12
Thereafter		271	8
Total undiscounted cash flows	$	3,204	106
Less: Difference between undiscounted cash flows and discounted cash flows		212	12
Present value of lease payments (recognized as lease receivables)	$	2,992	94