Loans and Leases (Tables)

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Loans and Leases Classified by Primary Purpose

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:

($ in millions)	June 30, 2024		December 31, 2023
Loans and leases held for sale:
Commercial and industrial loans	$	22	41
Commercial leases	3		3
Residential mortgage loans	512		334
Total loans and leases held for sale	$	537	378
Portfolio loans and leases:
Commercial and industrial loans	$	51,840	53,270
Commercial mortgage loans	11,429		11,276
Commercial construction loans	5,806		5,621
Commercial leases	2,708		2,579
Total commercial loans and leases	$	71,783	72,746
Residential mortgage loans	$	17,040	17,026
Home equity	3,969		3,916
Indirect secured consumer loans	15,442		14,965
Credit card	1,733		1,865
Solar energy installation loans	3,951		3,728
Other consumer loans	2,661		2,988
Total consumer loans	$	44,796	44,488
Total portfolio loans and leases	$	116,579	117,234

Total Loans and Leases Owned by the Bancorp

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

	Carrying Value			90 Days Past Due and Still Accruing(a)
($ in millions)	June 30, 2024		December 31, 2023	June 30, 2024	December 31, 2023
Commercial and industrial loans	$	51,862	53,311	3	8
Commercial mortgage loans	11,429		11,276	1	—
Commercial construction loans	5,806		5,621	—	—
Commercial leases	2,711		2,582	4	—
Residential mortgage loans	17,552		17,360	8	7
Home equity	3,969		3,916	—	—
Indirect secured consumer loans	15,442		14,965	—	—
Credit card	1,733		1,865	17	21
Solar energy installation loans	3,951		3,728	—	—
Other consumer loans	2,661		2,988	—	—
Total loans and leases	$	117,116	117,612	33	36
Less: Loans and leases held for sale	537		378
Total portfolio loans and leases	$	116,579	117,234

(a)Excludes government guaranteed residential mortgage loans.

The following table presents a summary of net charge-offs:

	For the three months ended June 30,			For the six months ended June 30,
($ in millions)	2024		2023	2024	2023
Commercial and industrial loans	$	80	32	115	62
Commercial construction loans	—		—	—	1
Residential mortgage loans	—		—	(1)	—
Home equity	(1)		1	—	—
Indirect secured consumer loans	17		16	42	29
Credit card	17		16	36	31
Solar energy installation loans	12		7	24	9
Other consumer loans	19		18	38	36
Total net charge-offs	$	144	90	254	168

Investment in Lease Financing

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

($ in millions)(a)	June 30, 2024		December 31, 2023
Net investment in direct financing leases:
Lease payment receivable (present value)	$	602	556
Unguaranteed residual assets (present value)	120		105
Net investment in sales-type leases:
Lease payment receivable (present value)	1,658		1,585
Unguaranteed residual assets (present value)	82		84

(a)Excludes $246 and 249 of leveraged leases at June 30, 2024 and December 31, 2023, respectively.

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents undiscounted cash flows for both direct financing and sales-type portfolio leases for the remainder of 2024 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:

As of June 30, 2024 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2024	$	93	259
2025	177		532
2026	147		366
2027	111		294
2028	59		194
2029	35		78
Thereafter	41		70
Total undiscounted cash flows	$	663	1,793
Less: Difference between undiscounted cash flows and discounted cash flows	61		135
Present value of lease payments (recognized as lease receivables)	$	602	1,658