Exhibit 99.4
January 2015
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) 534-3945 or IR@53.com
Jim Eglseder | Laura Wehby | |||||
VP / Investor Relations | VP / Investor Relations | |||||
(513) 534-8424 | (513) 534-7407 |
Page 1
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Ratios (percent) | ||||||||||||||||||||
Return on average assets | 1.12 | 1.48 | 1.34 | 1.15 | 0.67 | |||||||||||||||
Return on average common equity | 10.0 | 13.1 | 11.6 | 9.0 | 5.0 | |||||||||||||||
Average Bancorp shareholders’ equity as a percent of average assets | 11.59 | 11.56 | 11.65 | 11.41 | 12.22 | |||||||||||||||
Net interest margin(a) | 3.10 | 3.32 | 3.55 | 3.66 | 3.66 | |||||||||||||||
Efficiency(a) | 61.1 | 58.2 | 61.7 | 62.3 | 60.7 | |||||||||||||||
Net losses charged off as a percent of average loans and leases | 0.64 | 0.58 | 0.85 | 1.49 | 3.02 | |||||||||||||||
ALLL as a percent of portfolio loans and leases | 1.47 | 1.79 | 2.16 | 2.78 | 3.88 | |||||||||||||||
Allowance for credit losses as a percent of portfolio loans and leases | 1.62 | 1.97 | 2.37 | 3.01 | 4.17 | |||||||||||||||
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(b) | 0.82 | 1.10 | 1.49 | 2.23 | 2.79 | |||||||||||||||
Allowance for loan and lease losses as a percent of nonperforming assets(b) | 178 | 161 | 144 | 124 | 138 | |||||||||||||||
Allowance for credit losses as a percent of nonperforming assets(b) | 196 | 178 | 158 | 134 | 149 | |||||||||||||||
Common Share Data | ||||||||||||||||||||
Earnings per share | $ | 1.68 | $ | 2.05 | $ | 1.69 | $ | 1.20 | $ | 0.63 | ||||||||||
Earnings per diluted share | $ | 1.66 | $ | 2.02 | $ | 1.66 | $ | 1.18 | $ | 0.63 | ||||||||||
Cash dividends per common share | 0.51 | 0.47 | 0.36 | 0.28 | 0.04 | |||||||||||||||
Book value per share | 17.35 | 15.85 | 15.10 | 13.92 | 13.06 | |||||||||||||||
Common shares outstanding, excluding treasury | 824,046,952 | 855,305,745 | 882,152,057 | 919,804,436 | 796,272,522 | |||||||||||||||
Market price per share: | ||||||||||||||||||||
High | $ | 23.39 | $ | 21.04 | $ | 16.16 | $ | 15.75 | $ | 15.95 | ||||||||||
Low | 17.74 | 15.35 | 12.04 | 9.13 | 9.81 | |||||||||||||||
End of period | 20.38 | 21.03 | 15.20 | 12.72 | 14.68 | |||||||||||||||
Supplemental Data | ||||||||||||||||||||
Common dividends declared ($ in millions) | $ | 427 | $ | 407 | $ | 325 | $ | 257 | $ | 32 | ||||||||||
Full-time equivalent employees | 18,351 | 19,446 | 20,798 | 21,334 | 20,838 | |||||||||||||||
Banking centers | 1,302 | 1,320 | 1,325 | 1,316 | 1,312 | |||||||||||||||
ATMs | 2,638 | 2,586 | 2,415 | 2,425 | 2,445 |
(a) | Presented on a fully taxable equivalent basis (FTE). |
(b) | Excludes nonperforming assets held for sale. |
Page 2
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Income Statement ($ in millions) | ||||||||||||||||||||
Interest income (FTE) | $ | 4,051 | $ | 3,993 | $ | 4,125 | $ | 4,236 | $ | 4,507 | ||||||||||
Interest expense | 451 | 412 | 512 | 661 | 885 | |||||||||||||||
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Net interest income (FTE) | 3,600 | 3,581 | 3,613 | 3,575 | 3,622 | |||||||||||||||
Provision for loan and lease losses | 315 | 229 | 303 | 423 | 1,538 | |||||||||||||||
Noninterest income: | ||||||||||||||||||||
Service charges on deposits | 560 | 549 | 522 | 520 | 574 | |||||||||||||||
Corporate banking revenue | 430 | 400 | 413 | 350 | 364 | |||||||||||||||
Mortgage banking net revenue | 310 | 700 | 845 | 597 | 647 | |||||||||||||||
Investment advisory revenue | 407 | 393 | 374 | 375 | 361 | |||||||||||||||
Card and processing revenue | 295 | 272 | 253 | 308 | 316 | |||||||||||||||
Other noninterest income | 450 | 879 | 574 | 250 | 406 | |||||||||||||||
Securities gains, net | 21 | 21 | 15 | 46 | 47 | |||||||||||||||
Securities gains, net—non-qualifying hedges on mortgage servicing rights | — | 13 | 3 | 9 | 14 | |||||||||||||||
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Total noninterest income | 2,473 | 3,227 | 2,999 | 2,455 | 2,729 | |||||||||||||||
Noninterest expense: | ||||||||||||||||||||
Salaries, wages and incentives | 1,449 | 1,581 | 1,607 | 1,478 | 1,430 | |||||||||||||||
Employee benefits | 334 | 357 | 371 | 330 | 314 | |||||||||||||||
Net occupancy expense | 313 | 307 | 302 | 305 | 298 | |||||||||||||||
Technology and communications | 212 | 204 | 196 | 188 | 189 | |||||||||||||||
Equipment expense | 121 | 114 | 110 | 113 | 122 | |||||||||||||||
Card and processing expense | 141 | 134 | 121 | 120 | 108 | |||||||||||||||
Other noninterest expense | 1,139 | 1,264 | 1,374 | 1,224 | 1,394 | |||||||||||||||
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Total noninterest expense | 3,709 | 3,961 | 4,081 | 3,758 | 3,855 | |||||||||||||||
Income before income taxes (FTE) | 2,049 | 2,618 | 2,228 | 1,849 | 958 | |||||||||||||||
Taxable equivalent adjustment | 21 | 20 | 18 | 18 | 18 | |||||||||||||||
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Income before income taxes | 2,028 | 2,598 | 2,210 | 1,831 | 940 | |||||||||||||||
Applicable income tax | 545 | 772 | 636 | 533 | 187 | |||||||||||||||
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Net income | $ | 1,483 | $ | 1,826 | $ | 1,574 | $ | 1,298 | $ | 753 | ||||||||||
Less: Net income attributable to noncontrolling interests | 2 | (10 | ) | (2 | ) | 1 | — | |||||||||||||
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Net income attributable to Bancorp | $ | 1,481 | $ | 1,836 | $ | 1,576 | $ | 1,297 | $ | 753 | ||||||||||
Dividends on preferred stock | 67 | 37 | 35 | 203 | 250 | |||||||||||||||
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Net income available to common shareholders | $ | 1,414 | $ | 1,799 | $ | 1,541 | $ | 1,094 | $ | 503 | ||||||||||
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Regulatory Capital Data ($ in millions)(a) | ||||||||||||||||||||
Tier I capital | $ | 12,764 | $ | 12,094 | $ | 11,685 | $ | 12,503 | $ | 13,965 | ||||||||||
Tier II capital | 4,132 | 4,337 | 4,126 | 4,373 | 4,213 | |||||||||||||||
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Total risk-based capital | $ | 16,896 | $ | 16,431 | $ | 15,811 | $ | 16,876 | $ | 18,178 | ||||||||||
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Risk-weighted assets | $ | 117,887 | $ | 115,969 | $ | 109,301 | $ | 104,219 | $ | 100,561 | ||||||||||
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Tier I risk-based capital ratio | 10.83 | % | 10.43 | % | 10.69 | % | 12.00 | % | 13.89 | % | ||||||||||
Total risk-based capital ratio | 14.33 | % | 14.17 | % | 14.47 | % | 16.19 | % | 18.08 | % | ||||||||||
Tier I leverage ratio | 9.66 | % | 9.73 | % | 10.15 | % | 11.25 | % | 12.79 | % | ||||||||||
Tier I common equity ratio | 9.65 | % | 9.45 | % | 9.54 | % | 9.41 | % | 7.48 | % |
(a) | Current period regulatory capital data and ratios are estimated. |
Page 3
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Balance Sheet ($ in millions, except share data) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash and due from banks | $ | 3,091 | $ | 3,178 | $ | 2,441 | $ | 2,663 | $ | 2,159 | ||||||||||
Available-for-sale and other securities | 22,408 | 18,597 | 15,207 | 15,362 | 15,414 | |||||||||||||||
Held-to-maturity securities | 187 | 208 | 284 | 322 | 353 | |||||||||||||||
Trading securities | 360 | 343 | 207 | 177 | 294 | |||||||||||||||
Other short-term investments | 7,914 | 5,116 | 2,421 | 1,781 | 1,515 | |||||||||||||||
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Total cash and securities | 33,960 | 27,442 | 20,560 | 20,305 | 19,735 | |||||||||||||||
Loans held for sale | 1,261 | 944 | 2,939 | 2,954 | 2,216 | |||||||||||||||
Portfolio loans and leases | 90,084 | 88,614 | 85,782 | 81,018 | 77,491 | |||||||||||||||
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Total loans and leases | 91,345 | 89,558 | 88,721 | 83,972 | 79,707 | |||||||||||||||
Allowance for loan and lease losses | (1,322 | ) | (1,582 | ) | (1,854 | ) | (2,255 | ) | (3,004 | ) | ||||||||||
Bank premises and equipment | 2,465 | 2,531 | 2,542 | 2,447 | 2,389 | |||||||||||||||
Operating lease equipment | 728 | 730 | 581 | 497 | 479 | |||||||||||||||
Goodwill | 2,416 | 2,416 | 2,416 | 2,417 | 2,417 | |||||||||||||||
Intangible assets | 15 | 19 | 27 | 40 | 62 | |||||||||||||||
Servicing rights | 858 | 971 | 697 | 681 | 822 | |||||||||||||||
Other real estate owned | 217 | 299 | 320 | 429 | 506 | |||||||||||||||
Other assets | 8,024 | 8,059 | 7,884 | 8,434 | 7,894 | |||||||||||||||
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Total assets | $ | 138,706 | $ | 130,443 | $ | 121,894 | $ | 116,967 | $ | 111,007 | ||||||||||
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Liabilities | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand | $ | 34,809 | $ | 32,634 | $ | 30,023 | $ | 27,600 | $ | 21,413 | ||||||||||
Interest checking | 26,800 | 25,875 | 24,477 | 20,392 | 18,560 | |||||||||||||||
Savings | 15,051 | 17,045 | 19,879 | 21,756 | 20,903 | |||||||||||||||
Money market | 17,083 | 11,644 | 6,875 | 4,989 | 5,035 | |||||||||||||||
Foreign office | 1,114 | 1,976 | 885 | 3,250 | 3,721 | |||||||||||||||
Other time | 3,960 | 3,530 | 4,015 | 4,638 | 7,728 | |||||||||||||||
Certificates—$100,000 and over | 2,895 | 6,571 | 3,284 | 3,039 | 4,287 | |||||||||||||||
Other foreign office | — | — | 79 | 46 | 1 | |||||||||||||||
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Total deposits | 101,712 | 99,275 | 89,517 | 85,710 | 81,648 | |||||||||||||||
Federal funds purchased | 144 | 284 | 901 | 346 | 279 | |||||||||||||||
Other short-term borrowings | 1,556 | 1,380 | 6,280 | 3,239 | 1,574 | |||||||||||||||
Other liabilities | 4,662 | 5,245 | 4,347 | 4,739 | 3,868 | |||||||||||||||
Long-term debt | 14,967 | 9,633 | 7,085 | 9,682 | 9,558 | |||||||||||||||
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Total liabilities | 123,041 | 115,817 | 108,130 | 103,716 | 96,927 | |||||||||||||||
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Equity | ||||||||||||||||||||
Common and preferred equity | 17,169 | 15,802 | 13,975 | 12,795 | 13,867 | |||||||||||||||
Net unrealized gains (losses): | ||||||||||||||||||||
Available-for-sale securities | 475 | 121 | 412 | 485 | 321 | |||||||||||||||
Qualifying cash flow hedges | 23 | 13 | 50 | 80 | 67 | |||||||||||||||
Accumulated other comprehensive income related to employee benefit plans | (69 | ) | (52 | ) | (87 | ) | (95 | ) | (74 | ) | ||||||||||
Treasury stock, at cost | (1,972 | ) | (1,295 | ) | (634 | ) | (64 | ) | (130 | ) | ||||||||||
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Total Bancorp shareholders’ equity | 15,626 | 14,589 | 13,716 | 13,201 | 14,051 | |||||||||||||||
Noncontrolling interests | 39 | 37 | 48 | 50 | 29 | |||||||||||||||
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Total equity | 15,665 | 14,626 | 13,764 | 13,251 | 14,080 | |||||||||||||||
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Total liabilities and equity | $ | 138,706 | $ | 130,443 | $ | 121,894 | $ | 116,967 | $ | 111,007 | ||||||||||
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Share Data | ||||||||||||||||||||
Preferred shares outstanding—Series G | — | — | 16,450 | 16,450 | 152,771 | |||||||||||||||
Preferred shares outstanding—Series H | 24,000 | 24,000 | — | — | — | |||||||||||||||
Preferred shares outstanding—Series I | 18,000 | 18,000 | — | — | — | |||||||||||||||
Preferred shares outstanding—Series J | 12,000 | — | — | — | — | |||||||||||||||
Common shares outstanding, excluding treasury | 824,046,952 | 855,305,745 | 882,152,057 | 919,804,436 | 796,272,522 | |||||||||||||||
Treasury shares held | 99,845,629 | 68,586,836 | 41,740,524 | 4,088,144 | 5,231,665 |
Page 4
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Average Balance Sheet ($ in millions, except share data) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||
Loans and leases | $ | 91,127 | $ | 89,093 | $ | 84,822 | $ | 80,214 | $ | 79,232 | ||||||||||
Taxable securities | 21,770 | 16,395 | 15,262 | 15,334 | 16,054 | |||||||||||||||
Tax exempt securities | 53 | 49 | 57 | 103 | 317 | |||||||||||||||
Other short-term investments | 3,043 | 2,417 | 1,495 | 2,031 | 3,328 | |||||||||||||||
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Total interest-earning assets | 115,993 | 107,954 | 101,636 | 97,682 | 98,931 | |||||||||||||||
Cash and due from banks | 2,892 | 2,482 | 2,355 | 2,352 | 2,245 | |||||||||||||||
Other assets | 14,539 | 15,053 | 15,695 | 15,335 | 14,841 | |||||||||||||||
Allowance for loan and lease losses | (1,481 | ) | (1,757 | ) | (2,072 | ) | (2,703 | ) | (3,583 | ) | ||||||||||
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Total assets | $ | 131,943 | $ | 123,732 | $ | 117,614 | $ | 112,666 | $ | 112,434 | ||||||||||
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Liabilities | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||
Interest checking | 25,382 | $ | 23,582 | $ | 23,096 | $ | 18,707 | $ | 18,218 | |||||||||||
Savings | 16,080 | 18,440 | 21,393 | 21,652 | 19,612 | |||||||||||||||
Money market | 14,670 | 9,467 | 4,903 | 5,154 | 4,808 | |||||||||||||||
Foreign office | 1,828 | 1,501 | 1,528 | 3,490 | 3,355 | |||||||||||||||
Other time | 3,762 | 3,760 | 4,306 | 6,260 | 10,526 | |||||||||||||||
Certificates—$100,000 and over | 3,929 | 6,339 | 3,102 | 3,656 | 6,083 | |||||||||||||||
Other foreign office | — | 17 | 27 | 7 | 6 | |||||||||||||||
Federal funds purchased | 458 | 503 | 560 | 345 | 291 | |||||||||||||||
Other short-term borrowings | 1,873 | 3,024 | 4,246 | 2,777 | 1,635 | |||||||||||||||
Long-term debt | 12,928 | 7,914 | 9,043 | 10,154 | 10,902 | |||||||||||||||
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Total interest-bearing liabilities | 80,910 | 74,547 | 72,204 | 72,202 | 75,436 | |||||||||||||||
Demand deposits | 31,755 | 29,925 | 27,196 | 23,389 | 19,669 | |||||||||||||||
Other liabilities | 3,950 | 4,917 | 4,462 | 4,189 | 3,580 | |||||||||||||||
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Total liabilities | 116,615 | 109,389 | 103,862 | 99,780 | 98,685 | |||||||||||||||
Equity | 15,328 | 14,343 | 13,752 | 12,886 | 13,749 | |||||||||||||||
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Total liabilities and equity | 131,943 | $ | 123,732 | $ | 117,614 | $ | 112,666 | $ | 112,434 | |||||||||||
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Average loans and leases (excluding held for sale) | $ | 90,485 | $ | 86,950 | $ | 82,733 | $ | 78,533 | $ | 77,045 | ||||||||||
Average common shares outstanding: | ||||||||||||||||||||
Basic | 833,116,349 | 869,462,977 | 904,425,226 | 906,460,550 | 790,852,185 | |||||||||||||||
Diluted | 842,967,356 | 894,736,445 | 945,554,102 | 949,545,420 | 799,381,153 |
Page 5
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
End of Period Loans and Leases ($ in millions) (net of unearned discount) |
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Commercial: | ||||||||||||||||||||
Commercial and industrial loans | $ | 40,801 | $ | 39,347 | $ | 36,077 | $ | 30,828 | $ | 27,274 | ||||||||||
Commercial mortgage loans | 7,410 | 8,069 | 9,116 | 10,214 | 10,992 | |||||||||||||||
Commercial construction loans | 2,071 | 1,041 | 707 | 1,037 | 2,111 | |||||||||||||||
Commercial leases | 3,721 | 3,626 | 3,549 | 3,531 | 3,378 | |||||||||||||||
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Subtotal—commercial | 54,003 | 52,083 | 49,449 | 45,610 | 43,755 | |||||||||||||||
Consumer: | ||||||||||||||||||||
Residential mortgage loans | 13,582 | 13,570 | 14,873 | 13,474 | 10,858 | |||||||||||||||
Home equity | 8,886 | 9,246 | 10,018 | 10,719 | 11,513 | |||||||||||||||
Automobile loans | 12,037 | 11,984 | 11,972 | 11,827 | 10,983 | |||||||||||||||
Credit card | 2,401 | 2,294 | 2,097 | 1,978 | 1,896 | |||||||||||||||
Other consumer loans and leases | 436 | 381 | 312 | 364 | 702 | |||||||||||||||
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Subtotal—consumer | 37,342 | 37,475 | 39,272 | 38,362 | 35,952 | |||||||||||||||
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Total loans and leases | $ | 91,345 | $ | 89,558 | $ | 88,721 | $ | 83,972 | $ | 79,707 | ||||||||||
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Average Loans and Leases ($ in millions) (net of unearned discount) | ||||||||||||||||||||
Commercial: | ||||||||||||||||||||
Commercial and industrial loans | $ | 41,178 | $ | 37,770 | $ | 32,911 | $ | 28,546 | $ | 26,334 | ||||||||||
Commercial mortgage loans | 7,745 | 8,481 | 9,686 | 10,447 | 11,585 | |||||||||||||||
Commercial construction loans | 1,492 | 793 | 835 | 1,740 | 3,066 | |||||||||||||||
Commercial leases | 3,585 | 3,565 | 3,502 | 3,341 | 3,343 | |||||||||||||||
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Subtotal—commercial | 54,000 | 50,609 | 46,934 | 44,074 | 44,328 | |||||||||||||||
Consumer: | ||||||||||||||||||||
Residential mortgage loans | 13,344 | 14,428 | 13,370 | 11,318 | 9,868 | |||||||||||||||
Home equity | 9,059 | 9,554 | 10,369 | 11,077 | 11,996 | |||||||||||||||
Automobile loans | 12,068 | 12,021 | 11,849 | 11,352 | 10,427 | |||||||||||||||
Credit card | 2,271 | 2,121 | 1,960 | 1,864 | 1,870 | |||||||||||||||
Other consumer loans and leases | 385 | 360 | 340 | 529 | 743 | |||||||||||||||
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Subtotal—consumer | 37,127 | 38,484 | 37,888 | 36,140 | 34,904 | |||||||||||||||
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Total average loans and leases | $ | 91,127 | $ | 89,093 | $ | 84,822 | $ | 80,214 | $ | 79,232 | ||||||||||
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Asset Quality ($ in millions) | ||||||||||||||||||||
Nonaccrual portfolio loans and leases | $ | 269 | $ | 387 | $ | 665 | $ | 1,058 | $ | 1,333 | ||||||||||
Nonaccrual loans held for sale | 24 | 6 | 25 | 131 | 247 | |||||||||||||||
Restructured loans—(nonaccrual) held for sale | 15 | — | 4 | 7 | 47 | |||||||||||||||
Restructured loans and leases (nonaccrual) portfolio | 310 | 364 | 364 | 380 | 347 | |||||||||||||||
Other assets, including other real estate owned | 165 | 229 | 257 | 378 | 494 | |||||||||||||||
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Total nonperforming assets | $ | 783 | $ | 986 | $ | 1,315 | $ | 1,954 | $ | 2,468 | ||||||||||
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Ninety days past due loans and leases | $ | 87 | $ | 103 | $ | 195 | $ | 200 | $ | 317 | ||||||||||
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Nonperforming Loans ($ in millions)(nonaccrual plus renegotiated) | ||||||||||||||||||||
Commercial and industrial loans and leases | $ | 241 | $ | 287 | $ | 345 | $ | 544 | $ | 753 | ||||||||||
Commercial mortgage loans | 146 | 146 | 296 | 497 | 581 | |||||||||||||||
Commercial construction loans | 2 | 31 | 85 | 156 | 258 | |||||||||||||||
Residential mortgage loans | 94 | 165 | 237 | 275 | 268 | |||||||||||||||
Other consumer loans and leases | 135 | 128 | 95 | 104 | 114 | |||||||||||||||
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Total nonperforming loans and leases (including held for sale) | $ | 618 | $ | 757 | $ | 1,058 | $ | 1,576 | $ | 1,974 | ||||||||||
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Credit Charge-Offs ($ in millions) | ||||||||||||||||||||
Gross charge-offs | ($ | 679 | ) | ($ | 637 | ) | ($ | 837 | ) | ($ | 1,314 | ) | ($ | 2,484 | ) | |||||
Recoveries | 104 | 136 | 133 | 142 | 156 | |||||||||||||||
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Net losses charged off | ($ | 575 | ) | ($ | 501 | ) | ($ | 704 | ) | ($ | 1,172 | ) | ($ | 2,328 | ) | |||||
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