Exhibit 99.3
January 2006
ANNUAL FINANCIAL SUPPLEMENT
Investment Community Member:
To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.
Numbers are unaudited for year-end information.
If you need further information, please fax or e-mail your request to Fifth Third's Investor Relations Department at (513) 534-0629 or Brad.Adams@53.com
R. Mark Graf | Matt Curoe | Brad Adams | ||
SVP/Chief Financial Officer | VP/External Reporting | VP/Investor Relations | ||
(513) 534-6924 | (513) 534-0482 | (513) 534-0983 |
Yearly Data
Years Ended December 31, | ||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||
Ratios (percent) | ||||||||||||||||||
Return on average assets | 1.50 | 1.61 | 1.90 | 2.04 | 1.42 | 1.58 | ||||||||||||
Return on average equity | 16.6 | 17.2 | 19.0 | 18.4 | 13.6 | 17.5 | ||||||||||||
Average equity as a percent of average assets | 9.06 | 9.34 | 10.01 | 11.08 | 10.40 | 9.06 | ||||||||||||
Net interest margin (c) | 3.23 | 3.48 | 3.62 | 3.96 | 3.82 | 3.73 | ||||||||||||
Efficiency (c) | 53.2 | 53.9 | 47.0 | 47.5 | 57.5 | 53.7 | ||||||||||||
Net losses charged off as a percent of average loans and leases | 0.45 | 0.45 | 0.63 | 0.43 | 0.54 | 0.26 | ||||||||||||
Allowance for loan and lease losses as a percent of loans and leases (a) | 1.06 | 1.19 | 1.33 | 1.49 | 1.50 | 1.43 | ||||||||||||
Allowance for credit losses as a percent of loans and leases (a) | 1.16 | 1.31 | 1.47 | 1.49 | 1.50 | 1.43 | ||||||||||||
Nonperforming assets as a percent of loans, leases and other assets, including OREO | 0.52 | 0.51 | 0.61 | 0.59 | 0.57 | 0.47 | ||||||||||||
Underperforming assets as a percent of loans, leases and other assets, including OREO | 0.74 | 0.74 | 0.89 | 0.95 | 0.96 | 0.77 | ||||||||||||
Allowance for loan and lease losses as a percent of nonperforming assets (a) | 206.03 | 235.32 | 218.85 | 250.62 | 265.45 | 303.85 | ||||||||||||
Allowance for loan and lease losses as a percent of underperforming assets (a) | 144.13 | 160.20 | 150.28 | 157.12 | 156.49 | 185.21 | ||||||||||||
Allowance for credit losses as a percent of nonperforming assets (a) | 225.33 | 259.05 | 242.01 | 250.62 | 265.45 | 303.85 | ||||||||||||
Allowance for credit losses as a percent of underperforming assets (a) | 157.64 | 176.36 | 166.19 | 157.12 | 156.49 | 185.21 | ||||||||||||
Common Share Data | ||||||||||||||||||
Earnings per share | $ | 2.79 | $ | 2.72 | $ | 2.91 | $ | 2.64 | $ | 1.74 | $ | 1.86 | ||||||
Earnings per diluted share | 2.77 | 2.68 | 2.87 | 2.59 | 1.70 | 1.83 | ||||||||||||
Cash dividends per common share | 1.46 | 1.31 | 1.13 | 0.98 | 0.83 | 0.70 | ||||||||||||
Book value per share | 17.00 | 16.00 | 15.29 | 14.98 | 13.31 | 11.83 | ||||||||||||
Common shares outstanding, excluding treasury | 555,623,430 | 557,648,989 | 566,685,301 | 574,355,247 | 582,674,580 | 569,056,843 | ||||||||||||
Market price per share: | ||||||||||||||||||
High | $ | 48.12 | $ | 60.00 | $ | 62.15 | $ | 69.70 | $ | 64.77 | $ | 60.88 | ||||||
Low | 35.04 | 45.32 | 47.05 | 55.26 | 45.69 | 29.33 | ||||||||||||
Close | 37.72 | 47.30 | 59.10 | 58.55 | 61.33 | 59.75 | ||||||||||||
Price/earnings ratio (b) | 13.57 | 17.65 | 20.59 | 22.61 | 36.08 | 32.65 | ||||||||||||
Supplemental Data | ||||||||||||||||||
Common dividends declared ($ in millions) | $ | 810 | $ | 735 | $ | 645 | $ | 568 | $ | 460 | $ | 325 | ||||||
Full-time equivalent employees | 21,681 | 19,659 | 18,899 | 19,119 | 18,373 | 20,468 | ||||||||||||
Banking centers | 1,119 | 1,011 | 952 | 930 | 933 | 963 |
(a) As of December 31, 2004, the reserve for unfunded commitments has been reclassified from the allowance for loan and lease losses to other liabilities. The 2003 year end reserve for unfunded commitments has been reclassified to conform to the current presentation. The allowance for credit losses is the sum of the allowance for loan and lease losses and the reserve for unfunded commitments.
(b) Based on the most recent twelve-month earnings per diluted share and end of period stock prices.
(c) Presented on a fully taxable equivalent basis (“FTE”).
2
Yearly Data
Years Ended December 31, | ||||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||
Income Statement ($ in millions) | ||||||||||||||||||||||
Interest income (FTE) | $ | 5,026 | $ | 4,150 | $ | 4,030 | $ | 4,168 | $ | 4,754 | $ | 4,994 | ||||||||||
Interest expense | 2,030 | 1,102 | 1,086 | 1,430 | 2,278 | 2,697 | ||||||||||||||||
Net interest income (FTE) | 2,996 | 3,048 | 2,944 | 2,738 | 2,476 | 2,297 | ||||||||||||||||
Provision for loan and lease losses | 330 | 268 | 399 | 246 | 201 | 126 | ||||||||||||||||
Merger-related loan loss provision (a) | - | - | - | - | 35 | 12 | ||||||||||||||||
Noninterest income: | ||||||||||||||||||||||
Electronic payment processing revenue | 735 | 622 | 575 | 512 | 347 | 252 | ||||||||||||||||
Service charges on deposits | 522 | 515 | 485 | 431 | 367 | 298 | ||||||||||||||||
Mortgage banking net revenue | 174 | 178 | 302 | 188 | 63 | 256 | ||||||||||||||||
Investment advisory revenue | 355 | 360 | 332 | 325 | 298 | 275 | ||||||||||||||||
Other noninterest income | 568 | 626 | 546 | 555 | 520 | 370 | ||||||||||||||||
Operating lease revenue | 55 | 156 | 124 | - | - | - | ||||||||||||||||
Securities (losses) gains, net | 39 | (37 | ) | 81 | 114 | 28 | 6 | |||||||||||||||
Securities gains, net - non-qualifying hedges on mortgage servicing rights | - | - | 3 | 33 | 143 | - | ||||||||||||||||
Foreign exchange income | 52 | 45 | 35 | 25 | 22 | 19 | ||||||||||||||||
Total noninterest income | 2,500 | 2,465 | 2,483 | 2,183 | 1,788 | 1,476 | ||||||||||||||||
Noninterest expense: | ||||||||||||||||||||||
Salaries, incentives and benefits expense | 1,416 | 1,279 | 1,271 | 1,230 | 1,107 | 1,037 | ||||||||||||||||
Equipment expense | 105 | 84 | 82 | 79 | 91 | 100 | ||||||||||||||||
Net occupancy expense | 221 | 185 | 159 | 142 | 146 | 138 | ||||||||||||||||
Deposit insurance expense | 8 | 15 | 17 | 10 | 8 | 9 | ||||||||||||||||
Operating lease expense | 40 | 114 | 94 | - | - | - | ||||||||||||||||
Other noninterest expense | 1,137 | 1,295 | 928 | 876 | 752 | 656 | ||||||||||||||||
Merger-related charges (a) | - | - | - | - | 349 | 87 | ||||||||||||||||
Total noninterest expense | 2,927 | 2,972 | 2,551 | 2,337 | 2,453 | 2,027 | ||||||||||||||||
Income from continuing operations before income taxes, minority interest and cumulative effect (FTE) | 2,239 | 2,273 | 2,477 | 2,338 | 1,575 | 1,608 | ||||||||||||||||
Taxable equivalent adjustment | 31 | 36 | 39 | 39 | 45 | 47 | ||||||||||||||||
Income from continuing operations before income taxes, minority interest and cumulative effect | 2,208 | 2,237 | 2,438 | 2,299 | 1,530 | 1,561 | ||||||||||||||||
Applicable income taxes | 659 | 712 | 786 | 734 | 523 | 511 | ||||||||||||||||
Income from continuing operations before minority interest and cumulative effect | 1,549 | 1,525 | 1,652 | 1,565 | 1,007 | 1,050 | ||||||||||||||||
Minority interest, net of tax | - | - | (20 | ) | (38 | ) | (2 | ) | - | |||||||||||||
Income from continuing operations before cumulative effect | 1,549 | 1,525 | 1,632 | 1,527 | 1,005 | 1,050 | ||||||||||||||||
Income from discontinued operations, net of tax (b) | - | - | 44 | 4 | 4 | 5 | ||||||||||||||||
Income before cumulative effect | 1,549 | 1,525 | 1,676 | 1,531 | 1,009 | 1,055 | ||||||||||||||||
Cumulative effect of change in accounting principle, net of tax | - | - | (11 | ) | - | (7 | ) | - | ||||||||||||||
Net income | $ | 1,549 | $ | 1,525 | $ | 1,665 | $ | 1,531 | $ | 1,002 | $ | 1,055 | ||||||||||
Net income available to common shareholders (c) | $ | 1,548 | $ | 1,524 | $ | 1,664 | $ | 1,530 | $ | 1,001 | $ | 1,054 | ||||||||||
Regulatory Capital Data ($ in millions) (d) | ||||||||||||||||||||||
Tier 1 capital | $ | 8,209 | $ | 8,522 | $ | 8,272 | $ | 7,747 | $ | 7,433 | $ | 6,377 | ||||||||||
Tier 2 capital | 2,031 | 1,654 | 1,824 | 1,188 | 1,223 | 1,177 | ||||||||||||||||
Total risk-based capital | $ | 10,240 | $ | 10,176 | $ | 10,096 | $ | 8,935 | $ | 8,656 | $ | 7,554 | ||||||||||
Total risk-weighted assets | $ | 97,399 | $ | 82,633 | $ | 74,477 | $ | 65,444 | $ | 59,491 | $ | 55,943 | ||||||||||
Tier 1 capital ratio | 8.43% | 10.31% | 11.11% | 11.84% | 12.49% | 11.40% | ||||||||||||||||
Total risk-based capital ratio | 10.51% | 12.31% | 13.56% | 13.65% | 14.55% | 13.50% | ||||||||||||||||
Tier 1 leverage ratio | 8.08% | 8.89% | 9.23% | 9.84% | 10.64% | 9.49% |
(a) Tax-effects of these merger-related charges were $90 million in 2001 and $32 million in 2000.
(b) Includes gain on sale of discontinued operations of $40 million, net of tax, in 2003.
(c) Dividends on preferred stock are $.740 million for all years presented.
(d) 2005 regulatory capital data and ratios are estimated.
3
Yearly Data
As of December 31, | ||||||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||
Balance Sheet ($ in millions, except share data) | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||
Cash and due from banks | $ | 3,078 | $ | 2,561 | $ | 2,359 | $ | 1,891 | $ | 2,031 | $ | 1,706 | ||||||||||||
Available-for-sale securities | 21,924 | 24,687 | 28,999 | 25,464 | 20,507 | 19,029 | ||||||||||||||||||
Held-to-maturity securities | 389 | 255 | 135 | 52 | 16 | 553 | ||||||||||||||||||
Trading securities | 117 | 77 | 55 | 18 | - | - | ||||||||||||||||||
Other short-term investments | 158 | 532 | 268 | 294 | 225 | 232 | ||||||||||||||||||
Total cash and securities | 25,666 | 28,112 | 31,816 | 27,719 | 22,779 | 21,520 | ||||||||||||||||||
Loans held for sale | 1,304 | 559 | 1,881 | 3,358 | 2,180 | 1,655 | ||||||||||||||||||
Portfolio loans and leases | 69,925 | 59,808 | 52,308 | 45,928 | 41,548 | 42,530 | ||||||||||||||||||
Total loans and leases | 71,229 | 60,367 | 54,189 | 49,286 | 43,728 | 44,185 | ||||||||||||||||||
Allowance for loan and lease losses | (744 | ) | (713 | ) | (697 | ) | (683 | ) | (624 | ) | (609 | ) | ||||||||||||
Operating lease equipment | 143 | 304 | 767 | - | - | - | ||||||||||||||||||
Goodwill | 2,169 | 979 | 738 | 740 | 720 | 545 | ||||||||||||||||||
Intangible assets | 208 | 150 | 195 | 236 | 267 | 235 | ||||||||||||||||||
Servicing rights | 441 | 352 | 299 | 263 | 426 | 429 | ||||||||||||||||||
Other real estate owned | 54 | 63 | 55 | 27 | 30 | 28 | ||||||||||||||||||
Other assets | 6,059 | 4,842 | 3,892 | 3,344 | 3,738 | 3,338 | ||||||||||||||||||
Total assets | $ | 105,225 | $ | 94,456 | $ | 91,254 | $ | 80,932 | $ | 71,064 | $ | 69,671 | ||||||||||||
Liabilities | ||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||
Demand | $ | 14,609 | $ | 13,486 | $ | 12,142 | $ | 10,095 | $ | 9,243 | $ | 7,152 | ||||||||||||
Interest checking | 18,282 | 19,481 | 19,757 | 17,878 | 13,474 | 10,320 | ||||||||||||||||||
Savings | 11,276 | 8,310 | 7,375 | 10,056 | 7,065 | 5,991 | ||||||||||||||||||
Money market | 6,129 | 4,321 | 3,201 | 1,044 | 1,352 | 923 | ||||||||||||||||||
Other time | 9,313 | 6,837 | 6,201 | 7,638 | 11,301 | 14,231 | ||||||||||||||||||
Certificates - $100,000 and over | 4,343 | 2,121 | 1,856 | 1,723 | 2,197 | 5,049 | ||||||||||||||||||
Foreign office | 3,482 | 3,670 | 6,563 | 3,774 | 1,222 | 4,694 | ||||||||||||||||||
Total deposits | 67,434 | 58,226 | 57,095 | 52,208 | 45,854 | 48,360 | ||||||||||||||||||
Federal funds purchased | 5,323 | 4,714 | 6,928 | 4,748 | 2,544 | 2,178 | ||||||||||||||||||
Short-term bank notes | - | 775 | 500 | - | 34 | - | ||||||||||||||||||
Other short-term borrowings | 4,246 | 4,537 | 5,742 | 4,075 | 4,875 | 4,166 | ||||||||||||||||||
Convertible subordinated debentures | - | - | - | - | - | 173 | ||||||||||||||||||
Other liabilities | 3,549 | 3,297 | 3,259 | 2,657 | 2,553 | 1,993 | ||||||||||||||||||
Long-term debt | 15,227 | 13,983 | 9,063 | 8,179 | 7,030 | 6,066 | ||||||||||||||||||
Total liabilities | 95,779 | 85,532 | 82,587 | 71,867 | 62,890 | 62,936 | ||||||||||||||||||
Minority interest | - | - | - | 461 | 422 | - | ||||||||||||||||||
Shareholders’ Equity | ||||||||||||||||||||||||
Common and preferred equity | 11,138 | 10,507 | 9,749 | 8,779 | 7,748 | 6,708 | ||||||||||||||||||
Additional minimum pension liability | (5 | ) | (64 | ) | (63 | ) | (52 | ) | - | - | ||||||||||||||
Net unrealized (losses) gains on available-for-sale securities and qualifying cash flow hedges | (408 | ) | (105 | ) | (57 | ) | 421 | 8 | 28 | |||||||||||||||
Treasury stock, at cost | (1,279 | ) | (1,414 | ) | (962 | ) | (544 | ) | (4 | ) | (1 | ) | ||||||||||||
Total shareholders’ equity | $ | 9,446 | $ | 8,924 | $ | 8,667 | $ | 8,604 | $ | 7,752 | $ | 6,735 | ||||||||||||
Share Data | ||||||||||||||||||||||||
Preferred shares outstanding | 9,250 | 9,250 | 9,250 | 9,250 | 9,250 | 9,250 | ||||||||||||||||||
Common shares outstanding, excluding treasury | 555,623,430 | 557,648,989 | 566,685,301 | 574,355,247 | 582,674,580 | 569,056,843 | ||||||||||||||||||
Treasury shares held | 27,803,674 | 25,802,702 | 16,766,390 | 9,071,857 | 80,000 | 21,875 |
4
Yearly | Data |
Years Ended December 31, | ||||||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||
Average Balance Sheet ($ in millions, except share data) | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||
Loans and leases | $ | 67,737 | $ | 57,042 | $ | 52,414 | $ | 45,539 | $ | 44,888 | $ | 42,690 | ||||||||||||
Taxable securities | 24,017 | 29,365 | 27,584 | 22,145 | 18,482 | 17,246 | ||||||||||||||||||
Tax exempt securities | 789 | 917 | 1,056 | 1,101 | 1,255 | 1,384 | ||||||||||||||||||
Other short-term investments | 193 | 315 | 307 | 339 | 201 | 200 | ||||||||||||||||||
Total interest-earning assets | 92,736 | 87,639 | 81,361 | 69,124 | 64,826 | 61,520 | ||||||||||||||||||
Cash and due from banks | 2,758 | 2,216 | 1,600 | 1,551 | 1,482 | 1,456 | ||||||||||||||||||
Other assets | 8,102 | 5,763 | 5,250 | 5,007 | 5,000 | 4,229 | ||||||||||||||||||
Allowance for loan and lease losses | (720 | ) | (722 | ) | (730 | ) | (645 | ) | (625 | ) | (594 | ) | ||||||||||||
Total assets | $ | 102,876 | $ | 94,896 | $ | 87,481 | $ | 75,037 | $ | 70,683 | $ | 66,611 | ||||||||||||
Liabilities | ||||||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||
Interest checking | $ | 18,884 | $ | 19,434 | $ | 18,679 | $ | 16,239 | $ | 11,489 | $ | 9,531 | ||||||||||||
Savings | 10,007 | 7,941 | 8,020 | 9,465 | 4,928 | 5,799 | ||||||||||||||||||
Money market | 5,170 | 3,473 | 3,189 | 1,162 | 2,552 | 939 | ||||||||||||||||||
Other time | 8,491 | 6,208 | 6,426 | 8,855 | 13,473 | 13,716 | ||||||||||||||||||
Certificates - $100,000 and over | 4,001 | 2,403 | 3,832 | 2,237 | 3,821 | 4,283 | ||||||||||||||||||
Foreign office | 3,967 | 4,449 | 3,862 | 2,018 | 1,992 | 3,896 | ||||||||||||||||||
Short-term borrowings | 9,511 | 13,539 | 12,373 | 7,191 | 8,799 | 9,725 | ||||||||||||||||||
Long-term debt | 16,384 | 13,323 | 8,747 | 7,640 | 6,301 | 4,707 | ||||||||||||||||||
Total interest-bearing liabilities | 76,415 | 70,770 | 65,128 | 54,807 | 53,355 | 52,596 | ||||||||||||||||||
Demand deposits | 13,868 | 12,327 | 10,482 | 8,953 | 7,394 | 6,257 | ||||||||||||||||||
Other liabilities | 3,276 | 2,939 | 2,883 | 2,520 | 2,556 | 1,725 | ||||||||||||||||||
Total liabilities | 93,559 | 86,036 | 78,493 | 66,280 | 63,305 | 60,578 | ||||||||||||||||||
Minority interest | - | - | 234 | 440 | 30 | - | ||||||||||||||||||
Shareholders’ equity | 9,317 | 8,860 | 8,754 | 8,317 | 7,348 | 6,033 | ||||||||||||||||||
Total liabilities & shareholders’ equity | $ | 102,876 | $ | 94,896 | $ | 87,481 | $ | 75,037 | $ | 70,683 | $ | 66,611 | ||||||||||||
Average loans and leases (excluding held for sale) | $ | 66,685 | $ | 55,951 | $ | 49,700 | $ | 43,529 | $ | 42,339 | $ | 41,303 | ||||||||||||
Average common shares outstanding: | ||||||||||||||||||||||||
Basic | 554,410,581 | 561,258,539 | 571,590,128 | 580,326,693 | 575,253,508 | 565,685,977 | ||||||||||||||||||
Diluted | 558,442,819 | 568,234,313 | 580,003,074 | 592,020,246 | 591,316,210 | 578,973,325 |
5
Yearly Data
Years Ended December 31, | ||||||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||
Asset Quality ($ in millions) | ||||||||||||||||||||||||
Nonaccrual loans and leases | $ | 294 | $ | 228 | $ | 242 | $ | 247 | $ | 216 | $ | 174 | ||||||||||||
Renegotiated loans and leases | - | 1 | 8 | - | - | 2 | ||||||||||||||||||
Other assets, including other real estate owned | 67 | 74 | 69 | 26 | 19 | 25 | ||||||||||||||||||
Total nonperforming assets | 361 | 303 | 319 | 273 | 235 | 201 | ||||||||||||||||||
Ninety days past due loans and leases | 155 | 142 | 145 | 162 | 164 | 128 | ||||||||||||||||||
Total underperforming assets | $ | 516 | $ | 445 | $ | 464 | $ | 435 | $ | 399 | $ | 329 | ||||||||||||
End of Period Loans and Leases ($ in millions)(net of unearned discount) | ||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||
Commercial loans | $ | 19,299 | $ | 16,058 | $ | 14,226 | $ | 12,786 | $ | 10,909 | $ | 10,734 | ||||||||||||
Commercial mortgage | 9,188 | 7,636 | 6,894 | 5,885 | 6,085 | 6,227 | ||||||||||||||||||
Commercial construction | 6,342 | 4,348 | 3,301 | 3,009 | 3,103 | 2,819 | ||||||||||||||||||
Commercial leases | 3,698 | 3,426 | 3,264 | 3,019 | 2,487 | 2,571 | ||||||||||||||||||
Subtotal - commercial | 38,527 | 31,468 | 27,685 | 24,699 | 22,584 | 22,351 | ||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Consumer mortgage | 8,296 | 7,533 | 5,530 | 6,804 | 6,563 | 7,167 | ||||||||||||||||||
Consumer construction | 695 | 378 | 335 | 319 | 252 | 403 | ||||||||||||||||||
Credit card | 866 | 843 | 762 | 537 | 448 | 361 | ||||||||||||||||||
Home equity | 12,000 | 10,508 | 8,993 | 8,675 | 7,974 | 6,792 | ||||||||||||||||||
Other consumer loans | 9,250 | 7,586 | 8,436 | 5,909 | 4,164 | 4,457 | ||||||||||||||||||
Consumer leases | 1,595 | 2,051 | 2,448 | 2,343 | 1,743 | 2,654 | ||||||||||||||||||
Subtotal - consumer | 32,702 | 28,899 | 26,504 | 24,587 | 21,144 | 21,834 | ||||||||||||||||||
Total loans and leases | $ | 71,229 | $ | 60,367 | $ | 54,189 | $ | 49,286 | $ | 43,728 | $ | 44,185 | ||||||||||||
Nonperforming Loans ($ in millions)(non-accrual plus renegotiated) | ||||||||||||||||||||||||
Commercial construction loans | $ | 31 | $ | 13 | $ | 19 | $ | 14 | $ | 26 | $ | 11 | ||||||||||||
Commercial mortgage | 51 | 51 | 42 | 41 | 57 | 42 | ||||||||||||||||||
Commercial loans and leases | 146 | 111 | 136 | 159 | 122 | 75 | ||||||||||||||||||
Residential mortgage and construction | 30 | 24 | 26 | 18 | 11 | 42 | ||||||||||||||||||
Other consumer loans and leases | 36 | 30 | 27 | 15 | - | 6 | ||||||||||||||||||
Total nonperforming loans | $ | 294 | $ | 229 | $ | 250 | $ | 247 | $ | 216 | $ | 176 | ||||||||||||
Credit Charge-Offs ($ in millions) | ||||||||||||||||||||||||
Gross charge-offs | $ | (373 | ) | $ | (321 | ) | $ | (380 | ) | $ | (273 | ) | $ | (273 | ) | $ | (164 | ) | ||||||
Merger related charge-offs | - | - | - | - | (36 | ) | (12 | ) | ||||||||||||||||
Recoveries | 74 | 69 | 68 | 86 | 82 | 67 | ||||||||||||||||||
Net losses charged off | $ | (299 | ) | $ | (252 | ) | $ | (312 | ) | $ | (187 | ) | $ | (227 | ) | $ | (109 | ) |
6