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

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Summary of Transactions in the ALLL

The following tables summarize transactions in the ALLL by portfolio segment for the years ended December 31:

2024 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,130	145	1,047	2,322
Losses charged-off(a)	(267)		(2)	(417)	(686)
Recoveries of losses previously charged-off(a)	23		4	127	154
Provision for (benefit from) loan and lease losses	268		(1)	295	562
Balance, end of period	$	1,154	146	1,052	2,352

(a)The Bancorp recorded $28 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.

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)	(170)		(4)	(348)	(522)
Recoveries of losses previously charged-off(a)	17		4	113	134
Provision for (benefit from) loan and lease losses	152		(64)	477	565
Balance, end of period	$	1,130	145	1,047	2,322

(a)The Bancorp recorded $35 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.

2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,102	235	555	1,892
Losses charged-off(a)	(131)		(3)	(228)	(362)
Recoveries of losses previously charged-off(a)	30		5	100	135
Provision for loan and lease losses	126		8	395	529
Balance, end of period	$	1,127	245	822	2,194

(a)The Bancorp recorded $32 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 December 31, 2024 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	106	—	11	117
Collectively evaluated	1,048		146	1,041	2,235
Total ALLL	$	1,154	146	1,052	2,352
Portfolio loans and leases:(b)
Individually evaluated	$	395	131	96	622
Collectively evaluated	72,898		17,304	28,859	119,061
Total portfolio loans and leases	$	73,293	17,435	28,955	119,683

(a)Includes $1 related to commercial leveraged leases at December 31, 2024.

(b)Excludes $108 of residential mortgage loans measured at fair value and includes $248 of commercial leveraged leases, net of unearned income, at December 31, 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 December 31, 2024 ($ in millions)	Term Loans and Leases by Origination Year							Revolving and Other Loans
	2024		2023	2022	2021	2020	Prior		Total
Commercial and industrial loans:
Pass	$	2,966	1,346	2,445	1,321	371	437	40,185	49,071
Special mention	15		13	22	1	3	9	1,055	1,118
Substandard	67		95	182	74	32	15	1,545	2,010
Doubtful	—		—	2	—	—	—	70	72
Total commercial and industrial loans	$	3,048	1,454	2,651	1,396	406	461	42,855	52,271
Commercial mortgage owner-occupied loans:
Pass	$	786	790	844	630	315	307	1,829	5,501
Special mention	8		9	23	7	—	3	31	81
Substandard	64		34	24	28	9	43	239	441
Doubtful	—		—	—	—	—	—	—	—
Total commercial mortgage owner-occupied loans	$	858	833	891	665	324	353	2,099	6,023
Commercial mortgage nonowner-occupied loans:
Pass	$	710	751	769	170	263	408	2,698	5,769
Special mention	54		—	50	5	—	—	150	259
Substandard	38		27	9	—	—	2	119	195
Doubtful	—		—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	802	778	828	175	263	410	2,967	6,223
Commercial construction loans:
Pass	$	4	21	—	29	—	—	4,565	4,619
Special mention	—		—	—	—	—	—	756	756
Substandard	—		—	—	—	—	—	213	213
Doubtful	—		—	—	—	—	—	—	—
Total commercial construction loans	$	4	21	—	29	—	—	5,534	5,588
Commercial leases:
Pass	$	1,532	335	281	311	137	517	—	3,113
Special mention	4		4	2	3	2	4	—	19
Substandard	—		11	12	4	3	26	—	56
Doubtful	—		—	—	—	—	—	—	—
Total commercial leases	$	1,536	350	295	318	142	547	—	3,188
Total commercial loans and leases:
Pass	$	5,998	3,243	4,339	2,461	1,086	1,669	49,277	68,073
Special mention	81		26	97	16	5	16	1,992	2,233
Substandard	169		167	227	106	44	86	2,116	2,915
Doubtful	—		—	2	—	—	—	70	72
Total commercial loans and leases	$	6,248	3,436	4,665	2,583	1,135	1,771	53,455	73,293

As of December 31, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving and Other 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 during the years ended December 31:

2024 ($ in millions)	Term Loans and Leases by Origination Year							Revolving and Other Loans
	2024		2023	2022	2021	2020	Prior		Total
Commercial loans and leases:
Commercial and industrial loans	$	1	6	17	1	1	—	238	264
Commercial mortgage owner-occupied loans	—		1	—	—	—	—	—	1
Commercial construction loans	—		—	—	—	—	—	—	—
Commercial leases	—		—	—	—	—	2	—	2
Total commercial loans and leases	$	1	7	17	1	1	2	238	267

2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving and Other Loans
	2023		2022	2021	2020	2019	Prior		Total
Commercial loans and leases:
Commercial and industrial loans	$	25	7	12	1	—	11	112	168
Commercial mortgage owner-occupied loans	—		—	—	—	—	—	1	1
Commercial construction loans	—		—	—	—	—	—	1	1
Commercial leases	—		—	—	—	—	—	—	—
Total commercial loans and leases	$	25	7	12	1	—	11	114	170

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 December 31, 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)	$	1,961	998	2,961	4,606	2,491	4,245	—	—	17,262
30-89 days past due	1		3	4	9	4	12	—	—	33
90 days or more past due	1		—	1	1	—	2	—	—	5
Nonperforming	—		2	9	13	8	103	—	—	135
Total residential mortgage loans(b)	$	1,963	1,003	2,975	4,629	2,503	4,362	—	—	17,435
Home equity:
Performing:
Current	$	168	67	34	2	4	86	3,660	72	4,093
30-89 days past due	—		—	—	—	—	1	23	1	25
90 days or more past due	—		—	—	—	—	—	—	—	—
Nonperforming	—		—	1	—	—	7	56	6	70
Total home equity	$	168	67	35	2	4	94	3,739	79	4,188
Indirect secured consumer loans:
Performing:
Current	$	6,773	2,836	3,046	2,371	753	349	—	—	16,128
30-89 days past due	19		27	39	27	11	7	—	—	130
90 days or more past due	—		—	—	—	—	—	—	—	—
Nonperforming	4		10	19	13	5	4	—	—	55
Total indirect secured consumer loans	$	6,796	2,873	3,104	2,411	769	360	—	—	16,313
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,664	—	1,664
30-89 days past due	—		—	—	—	—	—	18	—	18
90 days or more past due	—		—	—	—	—	—	20	—	20
Nonperforming	—		—	—	—	—	—	32	—	32
Total credit card	$	—	—	—	—	—	—	1,734	—	1,734
Solar energy installation loans:
Performing:
Current	$	894	2,095	1,094	2	—	33	—	—	4,118
30-89 days past due	2		11	7	—	—	—	—	—	20
90 days or more past due	—		—	—	—	—	—	—	—	—
Nonperforming	1		34	28	—	—	1	—	—	64
Total solar energy installation loans	$	897	2,140	1,129	2	—	34	—	—	4,202
Other consumer loans:
Performing:
Current	$	201	351	507	219	171	142	860	34	2,485
30-89 days past due	1		5	10	3	1	2	1	1	24
90 days or more past due	—		—	—	—	—	—	—	—	—
Nonperforming	—		2	4	1	—	1	—	1	9
Total other consumer loans	$	202	358	521	223	172	145	861	36	2,518
Total residential mortgage and consumer loans:
Performing:
Current	$	9,997	6,347	7,642	7,200	3,419	4,855	6,184	106	45,750
30-89 days past due	23		46	60	39	16	22	42	2	250
90 days or more past due	1		—	1	1	—	2	20	—	25
Nonperforming	5		48	61	27	13	116	88	7	365
Total residential mortgage and consumer loans(b)	$	10,026	6,441	7,764	7,267	3,448	4,995	6,334	115	46,390

(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, 2024, $90 of these loans were 30-89 days past due and $162 were 90 days or more past due. The Bancorp recognized $1 of losses during the year ended December 31, 2024 due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $108 of residential mortgage loans measured at fair value at December 31, 2024, including $1 of 30-89 days past due loans, $1 of 90 days or more past due loans and $2 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 $2 of losses during the year ended December 31, 2023 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 during the years ended December 31:

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	5	—	6
Indirect secured consumer loans	7		35	53	25	9	10	—	—	139
Credit card	—		—	—	—	—	—	87	—	87
Solar energy installation loans	2		16	13	—	14	18	—	—	63
Other consumer loans	1		12	24	12	20	16	34	3	122
Total residential mortgage and consumer loans	$	10	63	90	37	43	47	126	3	419

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	$	—	—	—	—	—	4	—	—	4
Consumer loans:
Home equity	—		—	—	—	—	1	7	—	8
Indirect secured consumer loans	9		42	27	14	10	8	—	—	110
Credit card	—		—	—	—	—	—	82	—	82
Solar energy installation loans	8		16	1	—	—	2	—	—	27
Other consumer loans	7		37	14	12	7	8	34	2	121
Total residential mortgage and consumer loans	$	24	95	42	26	17	23	123	2	352

Summary by Age and Class of the Recorded Investment in Delinquencies Included in the Bancorp's Portfolio of Loans and Leases

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 December 31, 2024 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	52,098	90	83	173	52,271	5
Commercial mortgage owner-occupied loans	5,980		40	3	43	6,023	—
Commercial mortgage nonowner-occupied loans	6,215		6	2	8	6,223	—
Commercial construction loans	5,587		1	—	1	5,588	—
Commercial leases	3,167		18	3	21	3,188	1
Total portfolio commercial loans and leases	$	73,047	155	91	246	73,293	6

(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)	December 31, 2024		December 31, 2023
Commercial loans and leases:
Commercial and industrial loans	$	325	268
Commercial mortgage owner-occupied loans	63		8
Commercial mortgage nonowner-occupied loans	4		2
Commercial construction loans	1		1
Commercial leases	2		—
Total commercial loans and leases	$	395	279
Residential mortgage loans	131		126
Consumer loans:
Home equity	66		54
Indirect secured consumer loans	30		15
Total consumer loans	$	96	69
Total portfolio loans and leases	$	622	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:

	December 31, 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	$	265	109	374	273	31	304
Commercial mortgage owner-occupied loans	52		23	75	11	6	17
Commercial mortgage nonowner-occupied loans	—		4	4	—	3	3
Commercial construction loans	—		1	1	—	1	1
Commercial leases	2		—	2	—	1	1
Total nonaccrual portfolio commercial loans and leases	$	319	137	456	284	42	326
Residential mortgage loans	57		80	137	26	98	124
Consumer loans:
Home equity	21		49	70	21	36	57
Indirect secured consumer loans	48		7	55	32	4	36
Credit card	32		—	32	34	—	34
Solar energy installation loans	64		—	64	60	—	60
Other consumer loans	9		—	9	12	—	12
Total nonaccrual portfolio consumer loans	$	174	56	230	159	40	199
Total nonaccrual portfolio loans and leases(a)(b)	$	550	273	823	469	180	649
OREO and other repossessed property	—		30	30	—	39	39
Total nonperforming portfolio assets(a)(b)	$	550	303	853	469	219	688

(a)Excludes $7 and $1 of nonaccrual loans held for sale as of December 31, 2024 and 2023, respectively.

(b)Includes $18 and $19 of nonaccrual government-insured commercial loans whose repayments are insured by the SBA as of December 31, 2024 and 2023, respectively.

Summary of Loans Modifications

The following tables present the amortized cost basis as of December 31, 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, during the years ended:

December 31, 2024 ($ in millions)	Term Extension		Term Extension and Payment Delay	Payment Delay	Other	Total	% of Total Class
Commercial and industrial loans	$	155	19	57	1	232	0.44	%
Commercial mortgage owner-occupied loans	46		14	1	—	61	1.01
Commercial mortgage nonowner-occupied loans	72		—	—	—	72	1.16
Commercial construction loans	58		—	—	1	59	1.06
Total commercial portfolio loans	$	331	33	58	2	424	0.60	%

December 31, 2023 ($ in millions)	Term Extension		Term Extension and Payment Delay	Payment Delay	Other	Total	% of Total Class
Commercial and industrial loans	$	155	31	56	3	245	0.46	%
Commercial mortgage owner-occupied loans	27		—	—	—	27	0.52
Commercial mortgage nonowner-occupied loans	66		—	—	2	68	1.12
Commercial construction loans	113		—	—	—	113	2.01
Total commercial portfolio loans	$	361	31	56	5	453	0.62	%

The following table presents the amortized cost basis as of December 31, 2024 and 2023 of the Bancorp’s residential mortgage portfolio loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the years ended:

	December 31, 2024				December 31, 2023
($ in millions)	Total		% of Total Class		Total		% of Total Class
Payment delay	$	5	0.03	%	$	18	0.11	%
Term extension and payment delay	72		0.41		91		0.53
Term extension, interest rate reduction and payment delay	12		0.07		4		0.02
Total residential mortgage portfolio loans	$	89	0.51	%	$	113	0.66	%

The following tables present the amortized cost basis as of December 31, 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, during the years ended:

December 31, 2024 ($ in millions)	Interest Rate Reduction		Payment Delay	Interest Rate Reduction and Payment Delay	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total	% of Total Class
Home equity	$	4	—	—	2	9	15	0.36	%
Credit card	20		—	—	—	—	20	1.15
Solar energy installation loans	—		1	—	—	—	1	0.02
Other consumer loans	—		3	—	—	—	3	0.12
Total consumer portfolio loans	$	24	4	—	2	9	39	0.13	%

December 31, 2023 ($ in millions)	Interest Rate Reduction		Payment Delay	Interest Rate Reduction and Payment Delay	Term Extension and Payment Delay	Term Extension, Interest Rate Reduction and Payment Delay	Total	% of Total Class
Home equity	$	4	1	1	2	8	16	0.41	%
Credit card	27		—	—	—	—	27	1.45
Solar energy installation loans	—		1	—	—	—	1	0.03
Other consumer loans	—		5	—	—	—	5	0.17
Total consumer portfolio loans	$	31	7	1	2	8	49	0.18	%

The following table presents the financial effects of the Bancorp’s significant types of portfolio loan modifications to borrowers experiencing financial difficulty, by portfolio class for the years ended December 31:

	Financial Effects	2024	2023
Commercial loans:
Commercial and industrial loans	Weighted-average length of term extensions	9 months	11 months
	Weighted-average length of payment delay	15 months	23 months
Commercial mortgage owner- occupied loans	Weighted-average length of term extensions	10 months	15 months
	Weighted-average length of payment delay	15 months	N/A
Commercial mortgage nonowner- occupied loans	Weighted-average length of term extensions	20 months	16 months
Commercial construction loans	Weighted-average length of term extensions	12 months	12 months
Residential mortgage loans	Weighted-average length of term extensions	10.4 years	12.9 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	22.8 years	24.2 years
	Weighted-average interest rate reduction	From 9.2% to 7.2%	From 8.7% to 7.0%
	Approximate amount of payment delays as a percentage of the related loan balances	5%	5%
Credit card	Weighted-average interest rate reduction	From 23.9% to 4.1%	From 23.7% to 3.9%

Financing Receivable, Modified, Past Due

The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, for the Bancorp’s portfolio loans that were modified during the years ended December 31, 2024 and 2023, respectively, for borrowers experiencing financial difficulty, by age and portfolio class:

December 31, 2024 ($ in millions)			Past Due
	Current		30-89 Days	90 Days or More	Total
Commercial loans:
Commercial and industrial loans	$	182	22	28	232
Commercial mortgage owner-occupied loans	61		—	—	61
Commercial mortgage nonowner-occupied loans	72		—	—	72
Commercial construction loans	59		—	—	59
Residential mortgage loans	56		15	18	89
Consumer loans:
Home equity	13		1	1	15
Credit card(a)	15		3	2	20
Solar energy installation loans	1		—	—	1
Other consumer loans	3		—	—	3
Total portfolio loans	$	462	41	49	552

(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.

December 31, 2023 ($ in millions)			Past Due
	Current		30-89 Days	90 Days or More	Total
Commercial loans:
Commercial and industrial loans	$	184	9	52	245
Commercial mortgage owner-occupied loans	26		—	1	27
Commercial mortgage nonowner-occupied loans	68		—	—	68
Commercial construction loans	113		—	—	113
Residential mortgage loans	86		15	12	113
Consumer loans:
Home equity	14		2	—	16
Credit card(a)	19		5	3	27
Solar energy installation loans	1		—	—	1
Other consumer loans	5		—	—	5
Total portfolio loans	$	516	31	68	615

(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.

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 tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the years ended December 31, 2024 and 2023, respectively, and were within twelve months of the modification date:

December 31, 2024 ($ 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	$	14	—	13	1	8	—	36
Commercial mortgage owner-occupied loans	—		—	—	—	—	—	—
Residential mortgage loans	—		—	3	—	29	6	38
Consumer loans:
Home equity	—		1	—	—	1	1	3
Credit card	—		9	—	—	—	—	9
Total portfolio loans	$	14	10	16	1	38	7	86

December 31, 2023 ($ in millions)(a)	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	$	51	—	—	—	—	—	51
Commercial mortgage owner-occupied loans	1		—	—	—	—	—	1
Residential mortgage loans	—		—	2	—	11	1	14
Consumer loans:
Home equity	—		1	—	—	—	—	1
Credit card	—		10	—	—	—	—	10
Total portfolio loans	$	52	11	2	—	11	1	77

(a)Excludes loans modified prior to the adoption of ASU 2022-02.