XML 208 R68.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Measurements  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:
   
  
Fair Value Measurements Using
   
 
               
December 31, 2019 ($ in millions)
 
     Level 1
(c)
     
    
     Level 2
(c)
     
    
     Level 3     
    
     Total Fair Value     
  
   
Assets:
   
     
     
     
 
Available-for-sale
debt and other securities:
    
     
     
     
 
U.S. Treasury and federal agency securities
 
$
75
 
  
 
-
 
  
 
-
 
  
 
75
 
Obligations of states and political subdivisions securities
 
 
-
 
  
 
18
 
  
 
-
 
  
 
18
 
Mortgage-backed securities:
 
 
 
  
 
 
  
 
 
  
 
 
Agency residential mortgage-backed securities
 
 
-
 
  
 
14,115
 
  
 
-
 
  
 
14,115
 
Agency commercial mortgage-backed securities
 
 
-
 
  
 
15,693
 
  
 
-
 
  
 
15,693
 
Non-agency
commercial mortgage-backed securities
  
 
-
 
  
 
3,365
 
  
 
-
 
  
 
3,365
 
Asset-backed securities and other debt securities
 
 
-
 
  
 
2,206
 
  
 
-
 
  
 
2,206
 
   
  
Available-for-sale
debt and other securities
(a)
  
 
75
 
  
 
35,397
 
  
 
-
 
  
 
35,472
 
Trading debt securities:
 
 
 
  
 
 
  
 
 
  
 
 
 U.S. Treasury and federal agency securities
 
 
2
 
  
 
-
 
  
 
-
 
  
 
2
 
 Obligations of states and political subdivisions securities
 
 
-
 
  
 
9
 
  
 
-
 
  
 
9
 
 Agency residential mortgage-backed securities
 
 
-
 
  
 
55
 
  
 
-
 
  
 
55
 
 Asset-backed securities and other debt securities
 
 
-
 
  
 
231
 
  
 
-
 
  
 
231
 
   
  Trading debt securities
 
 
2
 
  
 
295
 
  
 
-
 
  
 
297
 
Equity securities
 
 
554
 
  
 
10
 
  
 
-
 
  
 
564
 
Residential mortgage loans held for sale
 
 
-
 
  
 
1,264
 
  
 
-
 
  
 
1,264
 
Residential mortgage loans
(b)
  
 
-
 
  
 
-
 
  
 
183
 
  
 
183
 
Servicing rights
 
 
-
 
  
 
-
 
  
 
993
 
  
 
993
 
Derivative assets:
 
 
 
  
 
 
  
 
 
  
 
 
Interest rate contracts
 
 
1
 
  
 
1,218
 
  
 
18
 
  
 
1,237
 
Foreign exchange contracts
 
 
-
 
  
 
165
 
  
 
-
 
  
 
165
 
Commodity contracts
 
 
37
 
  
 
234
 
  
 
-
 
  
 
271
 
   
Derivative assets
(d)
  
 
38
 
  
 
1,617
 
  
 
18
 
  
 
1,673
 
   
Total assets
 
$
669
 
  
 
38,583
 
  
 
1,194
 
  
 
40,446
 
   
Liabilities:
 
 
 
  
 
 
  
 
 
  
 
 
Derivative liabilities:
 
 
 
  
 
 
  
 
 
  
 
 
Interest rate contracts
 
$
5
 
  
 
144
 
  
 
8
 
  
 
157
 
Foreign exchange contracts
 
 
-
 
  
 
151
 
  
 
-
 
  
 
151
 
Equity contracts
 
 
-
 
  
 
-
 
  
 
163
 
  
 
163
 
Commodity contracts
 
 
17
 
  
 
253
 
  
 
-
 
  
 
270
 
   
Derivative liabilities
(e)
  
 
22
 
  
 
548
 
  
 
171
 
  
 
741
 
Short positions
(e)
  
 
49
 
  
 
100
 
  
 
-
 
  
 
149
 
   
Total liabilities
 
$
71
 
  
 
648
 
  
 
171
 
  
 
890
 
   
(a)
Excludes FHLB, FRB and DTCC restricted stock holdings totaling
$76
,
$478
and
$2
, respectively, at
December 31, 2019
.
(b)
Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)
During the year ended
December 31, 2019
, no assets or liabilities were transferred between Level 1 and Level 2.
(d)
Included in other assets in the Consolidated Balance Sheets.
(e)
Included in other liabilities in the Consolidated Balance Sheets.
   
  
Fair Value Measurements Using
   
 
               
December 31, 2018 ($ in millions)
 
            Level 1
(c)
        
    
    Level 2
(c)
        
    
    Level 3    
    
Total Fair Value    
  
   
Assets:
   
     
     
     
 
Available-for-sale
debt and other securities:
    
     
     
     
 
U.S. Treasury and federal agency securities
  $
97
      
-
      
-
      
97
  
Obligations of states and political subdivisions securities
   
-
      
2
      
-
      
2
  
Mortgage-backed securities:
   
     
     
     
 
Agency residential mortgage-backed securities
   
-
      
16,247
      
-
      
16,247
  
Agency commercial mortgage-backed securities
   
-
      
10,650
      
-
      
10,650
  
Non-agency
commercial mortgage-backed securities
    
-
      
3,267
      
-
      
3,267
  
Asset-backed securities and other debt securities
   
-
      
2,015
      
-
      
2,015
  
   
Available-for-sale
debt and other securities
(a)
    
97
      
32,181
      
-
      
32,278
  
Trading debt securities:
   
     
     
     
 
U.S. Treasury and federal agency securities
   
-
      
16
      
-
      
16
  
Obligations of states and political subdivisions securities
   
-
      
35
      
-
      
35
  
Agency residential mortgage-backed securities
   
-
      
68
      
-
      
68
  
Asset-backed securities and other debt securities
   
-
      
168
      
-
      
168
  
   
Trading debt securities
   
-
      
287
      
-
      
287
  
Equity securities
   
452
      
-
      
-
      
452
  
Residential mortgage loans held for sale
   
-
      
537
      
-
      
537
  
Residential mortgage loans
(b)
    
-
      
-
      
179
      
179
  
Commercial loans held for sale
   
-
      
7
      
-
      
7
  
Servicing rights
   
-
      
-
      
938
      
938
  
Derivative assets:
   
     
     
     
 
Interest rate contracts
   
-
      
648
      
7
      
655
  
Foreign exchange contracts
   
-
      
152
      
-
      
152
  
Commodity contracts
   
93
      
214
      
-
      
307
  
   
Derivative assets
(d)
    
93
      
1,014
      
7
      
1,114
  
   
Total assets
  $
642
      
34,026
      
1,124
      
35,792
  
   
Liabilities:
   
     
     
     
 
Derivative liabilities:
   
     
     
     
 
Interest rate contracts
  $
8
      
313
      
8
      
329
  
Foreign exchange contracts
   
-
      
142
      
-
      
142
  
Equity contracts
   
-
      
-
      
125
      
125
  
Commodity contracts
   
19
      
259
      
-
      
278
  
   
Derivative liabilities
(e)
    
27
      
714
      
133
      
874
  
Short positions
(e)
    
110
      
28
      
-
      
138
  
   
Total liabilities
  $
137
      
742
      
133
      
1,012
  
   
(a)
Excludes FHLB, FRB and DTCC restricted stock holdings totaling $184, $366 and $2, respectively, at December 31, 2018.
(b)
Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)
During the year ended December 31, 2018, no assets or liabilities were transferred between Level 1 and Level 2.
(d)
Included in other assets in the Consolidated Balance Sheets.
(e)
Included in other liabilities in the Consolidated Balance Sheets.
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
The following tables are a reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
   
  
        Fair Value Measurements Using Significant Unobservable Inputs (Level 3)   
  
  
    Residential    
    
   
Interest Rate
   
   
 
  
Mortgage
   
Servicing
   
Derivatives,
   
Equity
   
Total       
  
For the year ended December 31, 2019 ($ in millions)
 
Loans
   
Rights
   
Net
(a)
    
Derivatives
   
Fair Value  
  
   
Balance, beginning of period
 
$
179
 
  
 
938
 
  
 
(1)
 
  
 
(125)
 
  
 
991
 
Total (losses) gains (realized/unrealized):
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Included in earnings
 
 
(1)
 
  
 
(376)
 
  
 
145
 
  
 
(107)
 
  
 
(339)
 
Purchases/originations
 
 
-
 
  
 
431
 
  
 
(3)
 
  
 
-
 
  
 
428
 
Settlements
 
 
(31)
 
  
 
-
 
  
 
(131)
 
  
 
69
 
  
 
(93)
 
Transfers into Level 3
(b)
  
 
36
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
36
 
   
Balance, end of period
 
$
183
 
  
 
993
 
  
 
10
 
  
 
(163)
 
  
 
1,023
 
   
The amount of total (losses) gains for the period
included in earnings attributable to the change in
unrealized gains or losses relating to instruments
still held at December 31, 2019
(c)
  
$
(1)
 
  
 
(250)
 
  
 
20
 
  
 
(107)
 
  
 
(338)
 
   
(a)
Net interest rate derivatives include derivative assets and liabilities of
$18
and
$8
, respectively, as of
December 31, 2019
.
(b)
Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.
(c)
Includes interest income and expense.
   
  
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
 
  
    Residential    
    
   
Interest Rate
   
   
 
  
Mortgage
   
Servicing
   
Derivatives,
   
Equity
   
Total       
  
For the year ended December 31, 2018 ($ in millions)
 
Loans
   
Rights
   
Net
(a)
    
Derivatives
   
Fair Value  
  
   
Balance, beginning of period
  $
137
      
858
      
3
      
(137)
      
861
  
Total (losses) gains (realized/unrealized):
   
     
     
     
     
 
Included in earnings
   
(3)
      
(83)
      
72
      
(59)
      
(73)
  
Purchases/originations
   
-
      
163
      
(5)
      
-
      
158
  
Settlements
   
(19)
      
-
      
(71)
      
71
      
(19)
  
Transfers into Level 3
(b)
    
64
      
-
      
-
      
-
      
64
  
   
Balance, end of period
  $
179
      
938
      
(1)
      
(125)
      
991
  
   
The amount of total (losses) gains for the period
included in earnings attributable to the change in
unrealized gains or losses relating to instruments
still held at December 31, 2018
(c)
   $
(3)
      
(4)
      
9
      
(59)
      
(57)
  
   
(a)
Net interest rate derivatives include derivative assets and liabilities of $7 and $8, respectively, as of December 31, 2018.
(b)
Includes certain residential mortgage loans held for sale that were transferred to held for investment.
(c)
Includes interest income and expense.
   
  
        Fair Value Measurements Using Significant Unobservable Inputs (Level 3)     
  
  
Residential
   
   
Interest Rate
   
Equity
   
 
  
Mortgage
   
Servicing
   
Derivatives,
   
Derivatives,
   
Total       
  
For the year ended December 31, 2017 ($ in millions)
 
Loans
   
Rights
   
Net
(a)
    
Net
   
Fair Value   
  
   
Balance, beginning of period
  $
143
      
744
      
8
      
(91)
      
804
  
Total (losses) gains (realized/unrealized):
   
     
     
     
     
 
Included in earnings
   
1
      
(122)
      
94
      
(80)
      
(107)
  
Purchases/originations
   
-
      
236
      
(2)
      
-
      
234
  
Settlements
   
(23)
      
-
      
(97)
      
34
      
(86)
  
Transfers into Level 3
(b)
    
16
      
-
      
-
      
-
      
16
  
   
Balance, end of period
  $
137
      
858
      
3
      
(137)
      
861
  
   
The amount of total (losses) gains for the period
included in earnings attributable to the change in
unrealized gains or losses relating to instruments
still held at December 31, 2017
(c)
   $
1
      
(122)
      
10
      
(80)
      
(191)
  
   
(a)
Net interest rate derivatives include derivative assets and liabilities of $8 and $5, respectively, as of December 31, 2017.
(b)
Includes certain residential mortgage loans held for sale that were transferred to held for investment.
(c)
Includes interest income and expense.
Total Gains and Losses Included in Earnings for Assets and Liabilites Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
The total gains and losses included in earnings for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were recorded in the Consolidated Statements of Income for the years ended December 31, 2019, 2018 and 2017 as follows:
   
($ in millions)
 
2019
 
  
2018
   
2017       
  
   
Mortgage banking net revenue
 
$
(235
)
   
(16
 )    
(29)
  
Corporate banking revenue
 
 
3
 
    
2
      
2
  
Other noninterest income
 
 
(107
)
   
(59
 )    
(80)
  
   
Total losses
 
$
(339
)
   
(73
 )    
(107)
  
   
The total gains and losses included in earnings attributable to changes in unrealized gains and losses related to Level 3 assets and liabilities still held at December 31, 2019, 2018 and 2017 were recorded in the Consolidated Statements of Income as follows:
   
($ in millions)
 
2019
 
  
2018 
    
2017       
  
   
Mortgage banking net revenue
 
$
(233
)
   
-
      
(113)
  
Corporate banking revenue
 
 
2
 
    
2
      
2
  
Other noninterest income
 
 
(107
)
   
(59
 )    
(80)
  
   
Total losses
 
$
(338
)
   
(57
 )    
(191)
  
   
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of December 31, 2019 and 2018 and for which a nonrecurring fair value adjustment was recorded during the years ended December 31, 2019 and 2018, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period.
   
  
Fair Value Measurements Using
   
   
Total (Losses) Gains
 
 
As of December 31, 2019 ($ in
millions)
 
    Level 1  
    
Level 2
   
    Level 3    
    
      Total 
    
For the year ended December 31, 2019
 
 
   
Commercial and industrial loans
 
$
-
 
  
 
-
 
  
 
169
 
  
 
169
 
  
(96)
  
 
 
Commercial mortgage loans
 
 
-
 
  
 
-
 
  
 
12
 
  
 
12
 
  
-
  
 
  
 
Commercial leases
 
 
-
 
  
 
-
 
  
 
20
 
  
 
20
 
  
(6)
  
 
 
OREO
 
 
-
 
  
 
-
 
  
 
13
 
  
 
13
 
  
(6)
  
 
 
Bank premises and equipment
 
 
-
 
  
 
-
 
  
 
27
 
  
 
27
 
  
(27)
  
 
 
Operating lease equipment
 
 
-
 
  
 
-
 
  
 
6
 
  
 
6
 
  
(3)
  
 
 
Private equity investments
 
 
-
 
  
 
11
 
  
 
2
 
  
 
13
 
  
8
  
 
 
   
Total
 
$
-
 
  
 
11
 
  
 
249
 
  
 
260
 
  
(130)
  
 
 
   
    
     
     
     
   
   
 
   
  
Fair Value Measurements Using
   
   
Total (Losses) Gains
 
 
As of December 31, 2018 ($ in millions)
 
Level 1
   
Level 2
   
Level 3
   
      Total
   
For the year ended December 31, 2018
 
 
   
Commercial loans held for sale
  $
-
      
-
      
16
      
16
    
(3)
    
 
Commercial and industrial loans
   
-
      
-
      
93
      
93
    
(41)
    
 
Commercial mortgage loans
   
-
      
-
      
2
      
2
    
7
    
 
Commercial leases
   
-
      
-
      
14
      
14
    
(11)
    
 
OREO
   
-
      
-
      
20
      
20
    
(7)
    
 
Bank premises and equipment
   
-
      
-
      
32
      
32
    
(45)
    
 
Operating lease equipment
   
-
      
-
      
-
      
-
    
(2)
    
 
Private equity investments
   
-
      
67
      
3
      
70
    
43
    
 
Other assets
   
-
      
-
      
2
      
2
    
(8)
    
 
   
Total
  $
-
      
67
      
182
      
249
    
(67)
    
 
   
Quantitative Information About Significant Unobservable Level 3 Fair Value Measurement Inputs
The following tables present information as of December 31, 2019 and 2018 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a recurring basis:
   
As of December 31, 2019 ($ in millions)
 
   
          Financial Instrument
 
    Fair Value
   
     Valuation Technique    
  
Significant Unobservable
Inputs
 
Ranges of
Inputs
   
Weighted-
Average
 
   
Residential mortgage loans
 
 
$          183    
 
  
Loss rate model
 
    Interest rate risk factor
 
 
(9.2)
 -
 9.8%
 
  
 
(0.2)%
 
  
 
 
  
 
    Credit risk factor
 
 
0 - 26.5%
 
  
 
0.5%
 
   
Servicing rights
 
 
            993    
 
  
DCF
 
    Prepayment speed
 
 
0.5 - 97.0%
 
  
 
(Fixed) 13.0%
(Adjustable) 22.6%
 
  
 
 
  
 
    OAS (bps)
 
 
507 - 1,513
 
  
 
(Fixed) 602 (Adjustable) 921
 
   
IRLCs, net
 
 
            18    
 
  
DCF
 
    Loan closing rates
 
 
7.3 - 97.1%
 
  
 
81.7%
 
   
Swap associated with the sale of Visa, Inc. Class B Shares
 
 
            (163)    
 
  
DCF
 
    Timing of the resolution
of the Covered Litigation
 
 
Q1 2022
 -
Q4 2023
 
  
 
Q3 2022
 
   
   
As of December 31, 2018 ($ in millions)
 
   
          Financial Instrument
 
    Fair Value
   
     Valuation Technique    
  
Significant Unobservable
Inputs
 
Ranges of
Inputs
   
Weighted-
Average
 
   
Residential mortgage loans
   
$          179      
    
Loss rate model
 
    Interest rate risk factor
   
(13.2)
 -
 9.4%
      
0.5%
 
    
   
 
    Credit risk factor
   
0 - 39.9%
     
0.7%
 
   
Servicing rights
   
          938    
    
DCF
 
    Prepayment speed
   
0.5 - 100%
     
(Fixed) 10.2%
(Adjustable) 23.0%
 
    
   
 
    OAS (bps)
   
441 - 1,513
     
(Fixed) 534
(Adjustable) 863
 
   
IRLCs, net
   
          7    
    
DCF
 
    Loan closing rates
   
9.5 - 96.7%
     
86.0%
 
   
Swap associated with the sale of Visa, Inc. Class B Shares
   
          (125)    
    
DCF
 
    Timing of the resolution
of the Covered Litigation
   
Q1 2021 -
Q4 2023
     
Q4 2021
 
   
The following tables present information as of December 31, 2019 and 2018 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured on a nonrecurring basis:    
   
As of December 31, 2019 ($ in millions)
 
   
                               
                Financial Instrument
 
    Fair Value
   
Valuation Technique
   
Significant Unobservable Inputs
   
Ranges of
Inputs
   
Weighted-Average
    
  
   
Commercial and industrial loans
 
$
169
 
    
Appraised value
     
Collateral value
   
 
NM  
 
  
 
NM  
 
   
Commercial mortgage loans
 
 
12
 
    
Appraised value
     
Collateral value
   
 
NM  
 
  
 
NM  
 
   
Commercial leases
 
 
20
 
    
Appraised value
     
Collateral value
   
 
NM  
 
  
 
NM  
 
   
OREO
 
 
13
 
    
Appraised value
     
Appraised value
   
 
NM  
 
  
 
NM  
 
   
Bank premises and equipment
 
 
27
 
    
Appraised value
     
Appraised value
   
 
NM  
 
  
 
NM  
 
   
Operating lease equipment
 
 
6
 
    
Appraised value
     
Appraised value
   
 
NM  
 
  
 
NM  
 
   
Private equity investments
 
 
2
 
    
Comparable company analysis
     
Market comparable transactions
   
 
NM  
 
  
 
NM  
 
   
  
   
   
 
   
As of December 31, 2018 ($ in millions)
 
   
   
 
   
                               
        Financial Instrument
 
      Fair Value
   
    Valuation Technique
   
      Significant Unobservable Inputs
   
Ranges of  
Inputs  
    
Weighted-Average
      
  
   
Commercial loans held for sale
  $
16
      
Appraised value
     
Appraised value
Costs to sell
     
NM  
NM  
      
NM  
10.0 %
 
   
Commercial and industrial loans
   
93
      
Appraised value
     
Collateral value
     
NM  
      
NM  
  
   
Commercial mortgage loans
   
2
      
Appraised value
     
Collateral value
     
NM  
      
NM  
  
   
Commercial leases
   
14
      
Appraised value
     
Collateral value
     
NM  
      
NM  
  
   
OREO
   
20
      
Appraised value
     
Appraised value
     
NM  
      
NM  
  
   
Bank premises and equipment
   
32
      
Appraised value
     
Appraised value
     
NM  
      
NM  
  
   
Operating lease equipment
   
-
      
Appraised value
     
Appraised value
     
NM  
      
NM  
  
   
Private equity investments
   
-
      
Liquidity discount applied to fund’s NAV
     
Liquidity discount
     
 0 
 -
 43.0 %
      
12.9 %
 
    
3
      
Comparable company analysis
     
Market comparable transactions
     
NM  
      
NM  
  
   
Other assets
   
2
      
Appraised value
     
Appraised value
     
NM  
      
NM  
  
   
Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Residential Mortgage Loans Measured at Fair Value
The following table summarizes the difference between the fair value and the unpaid principal balance for residential mortgage loans and commercial loans measured at fair value as of:
 
($ in millions)
 
    Aggregate
    Fair Value
   
Aggregate Unpaid    
Principal Balance    
    
Difference        
 
December 31, 2019
   
     
   
Residential mortgage loans measured at fair value
 
$
1,447
 
  
 
1,410
 
  
37
Past due loans of 90 days or more
 
 
2
 
  
 
2
 
  
-
Nonaccrual loans
 
 
1
 
  
 
1
 
  
-
 
December 31, 2018
   
     
   
Residential mortgage loans measured at fair value
  $
716
      
696
    
20
Past due loans of 90 days or more
   
2
      
2
    
-
Nonaccrual loans
   
2
      
2
    
-
Commercial loans measured at fair value
 
 
7
 
  
 
7
 
  
-
 
Carrying Amounts and Estimated Fair Values for Certain Financial Instruments
Fair Value of Certain Financial Instruments
The following tables summarize the carrying amounts and estimated fair values for certain financial instruments, excluding financial instruments measured at fair value on a recurring basis:
   
  
Net Carrying  
    
        Fair Value Measurements Using        
    
Total      
  
                       
As of December 31, 2019 ($ in millions)
 
Amount  
    
    Level 1    
    
    Level 2    
    
    Level 3      
    
  Fair Value      
  
   
Financial assets:
   
     
     
     
     
 
Cash and due from banks
 
$
3,278
 
  
 
3,278
 
  
 
-
 
  
 
-
 
  
 
3,278
 
Other short-term investments
 
 
1,950
 
  
 
1,950
 
  
 
-
 
  
 
-
 
  
 
1,950
 
Other securities
 
 
556
 
  
 
-
 
  
 
556
 
  
 
-
 
  
 
556
 
Held-to-maturity
securities
  
 
17
 
  
 
-
 
  
 
-
 
  
 
17
 
  
 
17
 
Loans and leases held for sale
 
 
136
 
  
 
-
 
  
 
-
 
  
 
136
 
  
 
136
 
Portfolio loans and leases:
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Commercial and industrial loans
 
 
49,981
 
  
 
-
 
  
 
-
 
  
 
51,128
 
  
 
51,128
 
Commercial mortgage loans
 
 
10,876
 
  
 
-
 
  
 
-
 
  
 
10,823
 
  
 
10,823
 
Commercial construction loans
 
 
5,045
 
  
 
-
 
  
 
-
 
  
 
5,249
 
  
 
5,249
 
Commercial leases
 
 
3,346
 
  
 
-
 
  
 
-
 
  
 
3,133
 
  
 
3,133
 
Residential mortgage loans
 
 
16,468
 
  
 
-
 
  
 
-
 
  
 
17,509
 
  
 
17,509
 
Home equity
 
 
6,046
 
  
 
-
 
  
 
-
 
  
 
6,315
 
  
 
6,315
 
Indirect secured consumer loans
 
 
11,485
 
  
 
-
 
  
 
-
 
  
 
11,331
 
  
 
11,331
 
Credit card
 
 
2,364
 
  
 
-
 
  
 
-
 
  
 
2,774
 
  
 
2,774
 
Other consumer loans
 
 
2,683
 
  
 
-
 
  
 
-
 
  
 
2,866
 
  
 
2,866
 
Unallocated ALLL
 
 
(121
)
 
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
   
Total portfolio loans and leases, net
 
$
108,173
 
  
 
-
 
  
 
-
 
  
 
111,128
 
  
 
111,128
 
   
Financial liabilities:
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Deposits
 
$
127,062
 
  
 
-
 
  
 
127,059
 
  
 
-
 
  
 
127,059
 
Federal funds purchased
 
 
260
 
  
 
260
 
  
 
-
 
  
 
-
 
  
 
260
 
Other short-term borrowings
 
 
1,011
 
  
 
-
 
  
 
1,011
 
  
 
-
 
  
 
1,011
 
Long-term debt
 
 
14,970
 
  
 
15,244
 
  
 
700
 
  
 
-
 
  
 
15,944
 
   
  
 
  
   
 
   
  
Net Carrying
   
        Fair Value Measurements Using        
    
Total      
  
                       
As of December 31, 2018 ($ in millions)
 
Amount
   
Level 1
   
Level 2
   
Level 3
   
Fair Value      
  
   
Financial assets:
   
     
     
     
     
 
Cash and due from banks
  $
2,681
      
2,681
      
-
      
-
      
2,681
  
Other short-term investments
   
1,825
      
1,825
      
-
      
-
      
1,825
  
Other securities
   
552
      
-
      
552
      
-
      
552
  
Held-to-maturity
securities
    
18
      
-
      
-
      
18
      
18
  
Loans and leases held for sale
   
63
      
-
      
-
      
63
      
63
  
Portfolio loans and leases:
   
     
     
     
     
 
Commercial and industrial loans
   
43,825
      
-
      
-
      
44,668
      
44,668
  
Commercial mortgage loans
   
6,894
      
-
      
-
      
6,851
      
6,851
  
Commercial construction loans
   
4,625
      
-
      
-
      
4,688
      
4,688
  
Commercial leases
   
3,582
      
-
      
-
      
3,180
      
3,180
  
Residential mortgage loans
   
15,244
      
-
      
-
      
15,688
      
15,688
  
Home equity
   
6,366
      
-
      
-
      
6,719
      
6,719
  
Indirect secured consumer loans
   
8,934
      
-
      
-
      
8,717
      
8,717
  
Credit card
   
2,314
      
-
      
-
      
2,759
      
2,759
  
Other consumer loans
   
2,309
      
-
      
-
      
2,428
      
2,428
  
Unallocated ALLL
   
(110
 )    
-
      
-
      
-
      
-
  
   
Total portfolio loans and leases, net
  $
93,983
      
-
      
-
      
95,698
      
95,698
  
   
Financial liabilities:
   
     
     
     
     
 
Deposits
  $
108,835
      
-
      
108,782
      
-
      
108,782
  
Federal funds purchased
   
1,925
      
1,925
      
-
      
-
      
1,925
  
Other short-term borrowings
   
573
      
-
      
573
      
-
      
573
  
Long-term debt
   
14,426
      
14,287
      
445
      
-
      
14,732