XML 54 R38.htm IDEA: XBRL DOCUMENT

Credit Quality and the Allowance for Loan and Lease Losses (Tables)

9 Months Ended

Sep. 30, 2024

The following tables summarize transactions in the ALLL by portfolio segment:


For the three months ended September 30, 2024 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,113	136	1,039	2,288

Losses charged off(a)	(80)		—	(103)	(183)
Recoveries of losses previously charged off(a)	8		1	32	41
Provision for loan and lease losses	64		6	89	159
Balance, end of period	$	1,105	143	1,057	2,305

(a)The Bancorp recorded $6 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.


For the three months ended September 30, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,199	173	955	2,327

Losses charged off(a)	(70)		(1)	(87)	(158)
Recoveries of losses previously charged off(a)	6		1	27	34
Provision for (benefit from) loan and lease losses	52		(18)	103	137
Balance, end of period	$	1,187	155	998	2,340

(a)The Bancorp recorded $8 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.


For the nine months ended September 30, 2024 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,130	145	1,047	2,322

Losses charged off(a)	(203)		(2)	(306)	(511)
Recoveries of losses previously charged off(a)	16		3	96	115
Provision for (benefit from) loan and lease losses	162		(3)	220	379
Balance, end of period	$	1,105	143	1,057	2,305

(a)The Bancorp recorded $22 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.


For the nine months ended September 30, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,127	245	822	2,194
Impact of adoption of ASU 2022-02	4		(36)	(17)	(49)
Losses charged off(a)	(140)		(3)	(246)	(389)
Recoveries of losses previously charged off(a)	13		3	81	97
Provision for (benefit from) loan and lease losses	183		(54)	358	487
Balance, end of period	$	1,187	155	998	2,340

(a)The Bancorp recorded $26 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

Summary of the ALLL and Related Loans and Leases Classified by Portfolio Segment

The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:


As of September 30, 2024 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	89	—	9	98
Collectively evaluated	1,016		143	1,048	2,207
Total ALLL	$	1,105	143	1,057	2,305
Portfolio loans and leases:(b)
Individually evaluated	$	274	130	87	491
Collectively evaluated	70,856		16,922	28,285	116,063
Total portfolio loans and leases	$	71,130	17,052	28,372	116,554

(a)Includes $1 related to commercial leveraged leases at September 30, 2024.

(b)Excludes $114 of residential mortgage loans measured at fair value and includes $247 of commercial leveraged leases, net of unearned income, at September 30, 2024.


As of December 31, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	90	—	6	96
Collectively evaluated	1,040		145	1,041	2,226
Total ALLL	$	1,130	145	1,047	2,322
Portfolio loans and leases:(b)
Individually evaluated	$	281	126	69	476
Collectively evaluated	72,465		16,784	27,393	116,642

Total portfolio loans and leases	$	72,746	16,910	27,462	117,118

(a)Includes $2 related to commercial leveraged leases at December 31, 2023.

(b)Excludes $116 of residential mortgage loans measured at fair value and includes $249 of commercial leveraged leases, net of unearned income, at December 31, 2023.

Loan and Leases Balances by Credit Quality Indicator

The following tables present the amortized cost basis of the Bancorp’s commercial portfolio segment, by class and vintage, disaggregated by credit risk rating:


As of September 30, 2024 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans
	2024		2023	2022	2021	2020	Prior		Total
Commercial and industrial loans:
Pass	$	2,301	1,614	2,636	1,461	496	456	38,374		47,338
Special mention	20		9	27	20	3	76	1,073		1,228
Substandard	54		117	185	75	34	80	1,752		2,297
Doubtful	—		—	—	—	—	—	53		53
Total commercial and industrial loans	$	2,375	1,740	2,848	1,556	533	612	41,252		50,916
Commercial mortgage owner-occupied loans:
Pass	$	517	845	864	635	332	364	1,418		4,975
Special mention	24		2	11	15	1	18	11		82
Substandard	52		25	28	39	9	45	172		370
Doubtful	—		—	—	—	—	—	—		—
Total commercial mortgage owner-occupied loans	$	593	872	903	689	342	427	1,601		5,427
Commercial mortgage nonowner-occupied loans:
Pass	$	405	839	749	222	292	436	2,542		5,485
Special mention	58		—	114	—	—	—	117		289
Substandard	19		45	8	—	—	2	119		193
Doubtful	—		—	—	—	—	—	—		—
Total commercial mortgage nonowner-occupied loans	$	482	884	871	222	292	438	2,778		5,967
Commercial construction loans:
Pass	$	14	109	85	37	4	33	4,606		4,888
Special mention	—		—	—	—	—	—	787		787
Substandard	7		15	—	—	—	—	250		272
Doubtful	—		—	—	—	—	—	—		—
Total commercial construction loans	$	21	124	85	37	4	33	5,643		5,947
Commercial leases:
Pass	$	1,065	357	311	345	150	560	—		2,788
Special mention	2		—	1	4	2	6	—		15
Substandard	—		18	15	4	4	29	—		70
Doubtful	—		—	—	—	—	—	—		—
Total commercial leases	$	1,067	375	327	353	156	595	—		2,873
Total commercial loans and leases:
Pass	$	4,302	3,764	4,645	2,700	1,274	1,849	46,940		65,474
Special mention	104		11	153	39	6	100	1,988		2,401
Substandard	132		220	236	118	47	156	2,293		3,202
Doubtful	—		—	—	—	—	—	53		53
Total commercial loans and leases	$	4,538	3,995	5,034	2,857	1,327	2,105	51,274		71,130


As of December 31, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans
	2023		2022	2021	2020	2019	Prior		Total
Commercial and industrial loans:
Pass	$	2,124	3,434	1,814	580	263	321	40,889		49,425
Special mention	16		100	60	33	6	105	1,756		2,076
Substandard	105		103	28	18	39	73	1,397		1,763
Doubtful	—		—	—	—	—	—	6		6
Total commercial and industrial loans	$	2,245	3,637	1,902	631	308	499	44,048		53,270
Commercial mortgage owner-occupied loans:
Pass	$	870	1,078	746	408	219	260	1,279		4,860
Special mention	30		23	18	—	6	—	20		97
Substandard	31		22	11	10	45	10	114		243
Doubtful	—		—	—	—	—	—	—		—
Total commercial mortgage owner-occupied loans	$	931	1,123	775	418	270	270	1,413		5,200
Commercial mortgage nonowner-occupied loans:
Pass	$	886	825	261	348	293	243	2,724		5,580
Special mention	111		166	—	2	—	2	81		362
Substandard	81		1	8	—	—	2	42		134
Doubtful	—		—	—	—	—	—	—		—
Total commercial mortgage nonowner-occupied loans	$	1,078	992	269	350	293	247	2,847		6,076
Commercial construction loans:
Pass	$	171	36	45	41	70	6	4,818		5,187
Special mention	—		—	—	—	—	—	199		199
Substandard	61		—	33	—	—	—	141		235
Doubtful	—		—	—	—	—	—	—		—
Total commercial construction loans	$	232	36	78	41	70	6	5,158		5,621
Commercial leases:
Pass	$	598	386	462	202	145	664	—		2,457
Special mention	1		9	12	3	8	14	—		47
Substandard	20		14	1	5	5	30	—		75
Doubtful	—		—	—	—	—	—	—		—
Total commercial leases	$	619	409	475	210	158	708	—		2,579
Total commercial loans and leases:
Pass	$	4,649	5,759	3,328	1,579	990	1,494	49,710		67,509
Special mention	158		298	90	38	20	121	2,056		2,781
Substandard	298		140	81	33	89	115	1,694		2,450
Doubtful	—		—	—	—	—	—	6		6
Total commercial loans and leases	$	5,105	6,197	3,499	1,650	1,099	1,730	53,466		72,746

The following tables summarize the Bancorp’s gross charge-offs within the commercial portfolio segment, by class and vintage:


For the nine months ended September 30, 2024 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans
	2024		2023	2022	2021	2020	Prior		Total
Commercial loans and leases:
Commercial and industrial loans	$	1	2	15	1	1	—	183		203
Commercial mortgage owner-occupied loans	—		—	—	—	—	—	—		—

Commercial construction loans	—		—	—	—	—	—	—		—

Total commercial loans and leases	$	1	2	15	1	1	—	183		203


For the nine months ended September 30, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans
	2023		2022	2021	2020	2019	Prior		Total
Commercial loans and leases:
Commercial and industrial loans	$	24	6	12	1	—	5	90		138
Commercial mortgage owner-occupied loans	—		—	—	—	—	—	1		1

Commercial construction loans	—		—	—	—	—	—	1		1

Total commercial loans and leases	$	24	6	12	1	—	5	92		140

The following tables present the amortized cost basis of the Bancorp’s residential mortgage and consumer portfolio segments, by class and vintage, disaggregated by both age and performing versus nonperforming status:


As of September 30, 2024 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2024		2023	2022	2021	2020	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	1,281	1,014	2,995	4,678	2,533	4,386	—	—	16,887
30-89 days past due	1		—	5	7	2	12	—	—	27
90 days or more past due	—		—	1	3	1	3	—	—	8

Nonperforming	—		2	8	9	8	103	—	—	130
Total residential mortgage loans(b)	$	1,282	1,016	3,009	4,697	2,544	4,504	—	—	17,052
Home equity:
Performing:
Current	$	115	71	36	2	5	90	3,602	63	3,984
30-89 days past due	—		—	—	—	—	2	20	1	23
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	—		—	—	—	—	7	54	6	67
Total home equity	$	115	71	36	2	5	99	3,676	70	4,074
Indirect secured consumer loans:
Performing:
Current	$	5,228	3,117	3,347	2,721	917	440	—	—	15,770
30-89 days past due	11		23	40	27	13	8	—	—	122
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	2		9	17	12	5	5	—	—	50
Total indirect secured consumer loans	$	5,241	3,149	3,404	2,760	935	453	—	—	15,942
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,634	—	1,634
30-89 days past due	—		—	—	—	—	—	20	—	20
90 days or more past due	—		—	—	—	—	—	18	—	18

Nonperforming	—		—	—	—	—	—	31	—	31
Total credit card	$	—	—	—	—	—	—	1,703	—	1,703
Solar energy installation loans:
Performing:
Current	$	692	2,154	1,115	2	—	34	—	—	3,997
30-89 days past due	1		8	8	—	—	—	—	—	17
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	1		34	29	—	—	—	—	—	64
Total solar energy installation loans	$	694	2,196	1,152	2	—	34	—	—	4,078
Other consumer loans:
Performing:
Current	$	164	388	552	243	187	160	809	38	2,541
30-89 days past due	1		5	9	3	1	3	3	—	25
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	—		2	4	1	—	1	1	—	9
Total other consumer loans	$	165	395	565	247	188	164	813	38	2,575
Total residential mortgage and consumer loans:
Performing:
Current	$	7,480	6,744	8,045	7,646	3,642	5,110	6,045	101	44,813
30-89 days past due	14		36	62	37	16	25	43	1	234
90 days or more past due	—		—	1	3	1	3	18	—	26

Nonperforming	3		47	58	22	13	116	86	6	351
Total residential mortgage and consumer loans(b)	$	7,497	6,827	8,166	7,708	3,672	5,254	6,192	108	45,424

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of September 30, 2024, $85 of these loans were 30-89 days past due and $141 were 90 days or more past due. The Bancorp recognized an immaterial amount and $1 of losses during the three and nine months ended September 30, 2024, respectively, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $114 of residential mortgage loans measured at fair value at September 30, 2024, including $1 of 30-89 days past due loans and $1 of nonperforming loans.


As of December 31, 2023 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	995	3,139	5,001	2,703	943	3,971	—	—	16,752
30-89 days past due	—		3	6	5	1	14	—	—	29
90 days or more past due	—		1	1	1	1	3	—	—	7

Nonperforming	—		6	6	5	4	101	—	—	122
Total residential mortgage loans(b)	$	995	3,149	5,014	2,714	949	4,089	—	—	16,910
Home equity:
Performing:
Current	$	84	41	2	6	11	92	3,549	46	3,831
30-89 days past due	—		—	—	—	—	2	25	1	28
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	—		—	—	—	—	6	50	1	57
Total home equity	$	84	41	2	6	11	100	3,624	48	3,916
Indirect secured consumer loans:
Performing:
Current	$	4,126	4,333	3,925	1,527	597	271	—	—	14,779
30-89 days past due	22		49	40	19	12	8	—	—	150
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	4		11	9	6	3	3	—	—	36
Total indirect secured consumer loans	$	4,152	4,393	3,974	1,552	612	282	—	—	14,965
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,789	—	1,789
30-89 days past due	—		—	—	—	—	—	21	—	21
90 days or more past due	—		—	—	—	—	—	21	—	21

Nonperforming	—		—	—	—	—	—	34	—	34
Total credit card	$	—	—	—	—	—	—	1,865	—	1,865
Solar energy installation loans:
Performing:
Current	$	2,415	1,192	2	—	—	41	—	—	3,650
30-89 days past due	12		6	—	—	—	—	—	—	18
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	29		30	—	—	—	1	—	—	60
Total solar energy installation loans	$	2,456	1,228	2	—	—	42	—	—	3,728
Other consumer loans:
Performing:
Current	$	511	703	328	246	101	154	859	41	2,943
30-89 days past due	5		15	4	2	2	2	2	1	33
90 days or more past due	—		—	—	—	—	—	—	—	—

Nonperforming	2		6	1	1	1	—	—	1	12
Total other consumer loans	$	518	724	333	249	104	156	861	43	2,988
Total residential mortgage and consumer loans:
Performing:
Current	$	8,131	9,408	9,258	4,482	1,652	4,529	6,197	87	43,744
30-89 days past due	39		73	50	26	15	26	48	2	279
90 days or more past due	—		1	1	1	1	3	21	—	28

Nonperforming	35		53	16	12	8	111	84	2	321
Total residential mortgage and consumer loans(b)	$	8,205	9,535	9,325	4,521	1,676	4,669	6,350	91	44,372

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2023, $79 of these loans were 30-89 days past due and $141 were 90 days or more past due. The Bancorp recognized $1 and $2 of losses during the three and nine months ended September 30, 2023, respectively, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $116 of residential mortgage loans measured at fair value at December 31, 2023, including $1 of 30-89 days past due loans and $2 of nonperforming loans.

The following tables summarize the Bancorp’s gross charge-offs within the residential mortgage and consumer portfolio segments, by class and vintage:


For the nine months ended September 30, 2024 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2024		2023	2022	2021	2020	Prior			Total
Residential mortgage loans	$	—	—	—	—	—	2	—	—	2
Consumer loans:
Home equity	—		—	—	—	—	1	4	—	5
Indirect secured consumer loans	3		25	38	19	7	8	—	—	100
Credit card	—		—	—	—	—	—	67	—	67
Solar energy installation loans	1		16	13	—	5	9	—	—	44
Other consumer loans	—		10	21	9	12	11	25	2	90
Total residential mortgage and consumer loans	$	4	51	72	28	24	31	96	2	308


For the nine months ended September 30, 2023 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Residential mortgage loans	$	—	—	—	—	—	3	—	—	3
Consumer loans:
Home equity	—		—	—	—	—	1	5	—	6
Indirect secured consumer loans	4		28	20	10	7	6	—	—	75
Credit card	—		—	—	—	—	—	59	—	59
Solar energy installation loans	3		11	1	—	—	2	—	—	17
Other consumer loans	3		28	11	9	6	6	25	1	89
Total residential mortgage and consumer loans	$	10	67	32	19	13	18	89	1	249

Financing Receivable, Past Due

The following tables summarize the Bancorp’s amortized cost basis in portfolio commercial loans and leases, by age and class:


	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of September 30, 2024 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	50,785	44	87	131	50,916	10
Commercial mortgage owner-occupied loans	5,418		6	3	9	5,427	1
Commercial mortgage nonowner-occupied loans	5,961		1	5	6	5,967	2
Commercial construction loans	5,947		—	—	—	5,947	—
Commercial leases	2,860		12	1	13	2,873	1
Total portfolio commercial loans and leases	$	70,971	63	96	159	71,130	14

(a)Includes accrual and nonaccrual loans and leases.


	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of December 31, 2023 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	53,107	61	102	163	53,270	8
Commercial mortgage owner-occupied loans	5,196		1	3	4	5,200	—
Commercial mortgage nonowner-occupied loans	6,061		14	1	15	6,076	—
Commercial construction loans	5,621		—	—	—	5,621	—
Commercial leases	2,562		17	—	17	2,579	—
Total portfolio commercial loans and leases	$	72,547	93	106	199	72,746	8

(a)Includes accrual and nonaccrual loans and leases.

Summary of the Amortized Cost Basis of the Bancorp's Collateral Dependent Loans

The following table presents the amortized cost basis of the Bancorp’s collateral-dependent loans and leases, by portfolio class, as of:


($ in millions)	September 30, 2024		December 31, 2023
Commercial loans and leases:
Commercial and industrial loans	$	206	268
Commercial mortgage owner-occupied loans	63		8
Commercial mortgage nonowner-occupied loans	4		2
Commercial construction loans	1		1

Total commercial loans and leases	$	274	279
Residential mortgage loans	130		126
Consumer loans:
Home equity	62		54
Indirect secured consumer loans	25		15

Total consumer loans	$	87	69
Total portfolio loans and leases	$	491	474

Summary of the Bancorp's Nonperforming Loans and Leases by Class

The following table presents the amortized cost basis of the Bancorp’s nonaccrual loans and leases, by class, and OREO and other repossessed property as of:


	September 30, 2024				December 31, 2023
($ in millions)	With an ALLL		No Related ALLL	Total	With an ALLL	No Related ALLL	Total
Commercial loans and leases:
Commercial and industrial loans	$	217	38	255	273	31	304
Commercial mortgage owner-occupied loans	50		24	74	11	6	17
Commercial mortgage nonowner-occupied loans	—		4	4	—	3	3
Commercial construction loans	—		1	1	—	1	1
Commercial leases	—		—	—	—	1	1
Total nonaccrual portfolio commercial loans and leases	$	267	67	334	284	42	326
Residential mortgage loans	43		88	131	26	98	124
Consumer loans:
Home equity	22		45	67	21	36	57
Indirect secured consumer loans	42		8	50	32	4	36
Credit card	31		—	31	34	—	34
Solar energy installation loans	64		—	64	60	—	60
Other consumer loans	9		—	9	12	—	12
Total nonaccrual portfolio consumer loans	$	168	53	221	159	40	199
Total nonaccrual portfolio loans and leases(a)(b)	$	478	208	686	469	180	649
OREO and other repossessed property	—		39	39	—	39	39
Total nonperforming portfolio assets(a)(b)	$	478	247	725	469	219	688

(a)Excludes $8 and $1 of nonaccrual loans held for sale as of September 30, 2024 and December 31, 2023, respectively.

(b)Includes $20 and $19 of nonaccrual government-insured commercial loans whose repayments are insured by the SBA as of September 30, 2024 and December 31, 2023, respectively.

Summary of Loan Modifications

The following tables present the amortized cost basis as of September 30, 2024 and 2023, respectively, of the Bancorp’s commercial portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification:


For the three months ended September 30, 2024 ($ in millions)	Term Extension		Term Extension and Payment Delay	Payment Delay	Other	Total	% of Total Class
Commercial and industrial loans	$	84	2	19	—	105	0.21	%
Commercial mortgage owner-occupied loans	11		—	—	—	11	0.20
Commercial mortgage nonowner-occupied loans	28		—	—	—	28	0.47
Commercial construction loans	6		—	—	—	6	0.10
Total commercial portfolio loans	$	129	2	19	—	150	0.22	%


For the three months ended September 30, 2023 ($ in millions)	Term Extension		Term Extension and Payment Delay	Payment Delay	Other	Total	% of Total Class
Commercial and industrial loans	$	92	8	—	1	101	0.18	%
Commercial mortgage owner-occupied loans	3		—	—	—	3	0.06
Commercial mortgage nonowner-occupied loans	1		—	—	—	1	0.02
Commercial construction loans	19		—	—	—	19	0.34
Total commercial portfolio loans	$	115	8	—	1	124	0.17	%


For the nine months ended September 30, 2024 ($ in millions)	Term Extension		Term Extension and Payment Delay	Payment Delay	Other	Total	% of Total Class
Commercial and industrial loans	$	164	20	23	1	208	0.41	%
Commercial mortgage owner-occupied loans	25		—	1	—	26	0.48
Commercial mortgage nonowner-occupied loans	28		—	—	—	28	0.47
Commercial construction loans	6		—	—	—	6	0.10
Total commercial portfolio loans	$	223	20	24	1	268	0.39	%


For the nine months ended September 30, 2023 ($ in millions)	Term Extension		Term Extension and Payment Delay	Payment Delay	Other	Total	% of Total Class
Commercial and industrial loans	$	176	8	5	2	191	0.34	%
Commercial mortgage owner-occupied loans	24		—	—	—	24	0.45
Commercial mortgage nonowner-occupied loans	21		—	—	3	24	0.42
Commercial construction loans	116		—	—	—	116	2.08
Total commercial portfolio loans	$	337	8	5	5	355	0.47	%

The following tables present the amortized cost basis as of September 30, 2024 and 2023, respectively, of the Bancorp’s residential mortgage portfolio loans that were modified for borrowers experiencing financial difficulty, by type of modification:


	September 30, 2024				September 30, 2023
For the three months ended ($ in millions)	Total		% of Total Class		Total		% of Total Class

Payment delay	$	1	0.01	%	$	3	0.02	%
Term extension and payment delay	17		0.10		27		0.15

Term extension, interest rate reduction and payment delay	4		0.02		1		0.01
Total residential mortgage portfolio loans	$	22	0.13	%	$	31	0.18	%


	September 30, 2024				September 30, 2023
For the nine months ended ($ in millions)	Total		% of Total Class		Total		% of Total Class

Payment delay	$	5	0.03	%	$	16	0.09	%
Term extension and payment delay	61		0.36		69		0.40

Term extension, interest rate reduction and payment delay	8		0.05		4		0.02
Total residential mortgage portfolio loans	$	74	0.43	%	$	89	0.51	%

The following tables present the amortized cost basis as of September 30, 2024 and 2023, respectively, of the Bancorp’s consumer portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification:


For the three months ended September 30, 2024 ($ in millions)	Interest Rate Reduction		Payment Delay	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total	% of Total Class
Home equity	$	1	—	—	3	4	0.10	%
Credit card	7		—	—	—	7	0.41
Solar energy installation loans	—		—	—	—	—	—
Other consumer loans	—		1	—	—	1	0.04
Total consumer portfolio loans	$	8	1	—	3	12	0.04	%


For the three months ended September 30, 2023 ($ in millions)	Interest Rate Reduction		Payment Delay	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total	% of Total Class
Home equity	$	2	—	1	2	5	0.13	%
Credit card	9		—	—	—	9	0.50
Solar energy installation loans	—		—	—	—	—	—
Other consumer loans	—		2	—	—	2	0.06
Total consumer portfolio loans	$	11	2	1	2	16	0.06	%


For the nine months ended September 30, 2024 ($ in millions)	Interest Rate Reduction		Payment Delay	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total	% of Total Class
Home equity	$	3	—	1	7	11	0.27	%
Credit card	17		—	—	—	17	1.00
Solar energy installation loans	—		—	—	—	—	—
Other consumer loans	—		3	—	—	3	0.12
Total consumer portfolio loans	$	20	3	1	7	31	0.11	%


For the nine months ended September 30, 2023 ($ in millions)	Interest Rate Reduction		Payment Delay	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total	% of Total Class
Home equity	$	3	—	2	7	12	0.31	%
Credit card	23		—	—	—	23	1.27
Solar energy installation loans	—		1	—	—	1	0.03
Other consumer loans	—		4	—	—	4	0.13
Total consumer portfolio loans	$	26	5	2	7	40	0.14	%

The following tables present the financial effects of the Bancorp’s significant types of portfolio loan modifications to borrowers experiencing financial difficulty, by portfolio class:


		For the three months ended September 30,
	Financial Effects	2024	2023
Commercial loans:
Commercial and industrial loans	Weighted-average length of term extensions	5 months	7 months
	Weighted-average length of payment delay	21 months	10 months
Commercial mortgage owner- occupied loans	Weighted-average length of term extensions	6 months	3 months

Commercial mortgage nonowner- occupied loans	Weighted-average length of term extensions	5 months	12 months
Commercial construction loans	Weighted-average length of term extensions	5 months	12 months
Residential mortgage loans	Weighted-average length of term extensions	9.6 years	14.3 years
	Approximate amount of payment delays as a percentage of the related loan balances	13%	17%
Consumer loans:
Home equity	Weighted-average length of term extensions	22.9 years	24.5 years
	Weighted-average interest rate reduction	From 9.0% to 7.3%	From 9.0% to 7.2%
	Approximate amount of payment delays as a percentage of the related loan balances	5%	6%

Credit card	Weighted-average interest rate reduction	From 23.8% to 4.2%	From 23.9% to 3.9%


		For the nine months ended September 30,
	Financial Effects	2024	2023
Commercial loans:
Commercial and industrial loans	Weighted-average length of term extensions	9 months	6 months
	Weighted-average length of payment delay	13 months	8 months
Commercial mortgage owner- occupied loans	Weighted-average length of term extensions	13 months	18 months

Commercial mortgage nonowner- occupied loans	Weighted-average length of term extensions	7 months	8 months
Commercial construction loans	Weighted-average length of term extensions	9 months	12 months
Residential mortgage loans	Weighted-average length of term extensions	10.0 years	12.5 years
	Approximate amount of payment delays as a percentage of the related loan balances	12%	16%
Consumer loans:
Home equity	Weighted-average length of term extensions	24.0 years	24.8 years
	Weighted-average interest rate reduction	From 9.0% to 7.2%	From 8.6% to 6.9%
	Approximate amount of payment delays as a percentage of the related loan balances	5%	5%

Credit card	Weighted-average interest rate reduction	From 23.8% to 4.1%	From 23.6% to 3.8%

Financing Receivable, Modified, Past Due

The following table presents the amortized cost basis as of September 30, 2024 for the Bancorp’s portfolio loans that were modified during the twelve months then ended for borrowers experiencing financial difficulty, by age and portfolio class:


($ in millions)			Past Due
	Current		30-89 Days	90 Days or More	Total
Commercial loans:
Commercial and industrial loans	$	196	13	10	219
Commercial mortgage owner-occupied loans	26		—	—	26
Commercial mortgage nonowner-occupied loans	67		—	—	67
Commercial construction loans	6		—	—	6
Residential mortgage loans	66		15	13	94
Consumer loans:
Home equity	13		1	1	15

Credit card(a)	16		3	3	22
Solar energy installation loans	1		—	—	1
Other consumer loans	3		—	—	3
Total portfolio loans	$	394	32	27	453

(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.

The following table presents the amortized cost basis as of September 30, 2023 for the Bancorp’s portfolio loans that were modified between January 1, 2023 and September 30, 2023 to borrowers experiencing financial difficulty, by age and portfolio class:


($ in millions)			Past Due
	Current		30-89 Days	90 Days or More	Total
Commercial loans:
Commercial and industrial loans	$	191	—	—	191
Commercial mortgage owner-occupied loans	23		1	—	24
Commercial mortgage nonowner-occupied loans	24		—	—	24
Commercial construction loans	116		—	—	116
Residential mortgage loans	74		12	3	89
Consumer loans:
Home equity	12		—	—	12

Credit card(a)	16		4	3	23
Solar energy installation loans	1		—	—	1
Other consumer loans	4		—	—	4
Total portfolio loans	$	461	17	6	484

Summary of Amortized Cost Basis of Modifications to Borrowers Experiencing Financial Difficulty That Subsequently Defaulted and Were Within Twelve Months of the Modification Date

The following table presents the amortized cost basis as of September 30, 2024 of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the three months ended September 30, 2024 and were within twelve months of the modification date:


($ in millions)	Term Extension		Interest Rate Reduction	Payment Delay	Term Extension and Interest Rate Reduction	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total
Commercial loans:
Commercial and industrial loans	$	2	—	3	—	2	—	7



Residential mortgage loans	—		—	1	—	10	2	13
Consumer loans:
Home equity	—		—	—	—	—	1	1

Credit card	—		4	—	—	—	—	4


Total portfolio loans	$	2	4	4	—	12	3	25

The following table presents the amortized cost basis as of September 30, 2024 of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the nine months ended September 30, 2024 and were within twelve months of the modification date:


($ in millions)	Term Extension		Interest Rate Reduction	Payment Delay	Term Extension and Interest Rate Reduction	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total
Commercial loans:
Commercial and industrial loans	$	10	—	5	1	8	—	24



Residential mortgage loans	—		—	2	—	25	2	29
Consumer loans:
Home equity	—		1	—	—	—	1	2

Credit card	—		8	—	—	—	—	8


Total portfolio loans	$	10	9	7	1	33	3	63