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Loans and leases and allowance for credit losses (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Summary of Payment Status
A summary of current, past due and nonaccrual loans as of December 31, 2024 and 2023 follows:
(Dollars in millions)Current
30-89 Days
Past Due
Accruing
Loans Past
Due 90
Days or
More
NonaccrualTotal (a)
December 31, 2024
Commercial and industrial$60,374 $399 $12 $696 $61,481 
Real estate:
Commercial (b)20,054 255 3 468 20,780 
Residential builder and developer830 3 — 2 835 
Other commercial construction5,018 65 — 66 5,149 
Residential (c)21,853 719 315 279 23,166 
Consumer:
Home equity lines and loans4,482 29 — 81 4,592 
Recreational finance12,429 104 — 31 12,564 
Automobile4,724 58 — 12 4,794 
Other2,134 23 8 55 2,220 
Total$131,898 $1,655 $338 $1,690 $135,581 
December 31, 2023
Commercial and industrial$56,091 $238 $11 $670 $57,010 
Real estate:
Commercial (b)24,072 311 25 869 25,277 
Residential builder and developer1,065 5 — 3 1,073 
Other commercial construction6,322 159 1 171 6,653 
Residential (c)21,905 794 295 270 23,264 
Consumer:
Home equity lines and loans4,528 40 — 81 4,649 
Recreational finance9,935 87 — 36 10,058 
Automobile3,918 60 — 14 3,992 
Other2,003 30 7 52 2,092 
Total$129,839 $1,724 $339 $2,166 $134,068 
__________________________________________________________________________________
(a)Balances include net discounts, comprised of unamortized premiums, discounts and net deferred loan fees and costs, of $277 million and $361 million at December 31, 2024 and 2023, respectively.
(b)Commercial real estate loans held for sale were $310 million at December 31, 2024 and $189 million at December 31, 2023.
(c)One-to-four family residential mortgage loans held for sale were $211 million at December 31, 2024 and $190 million at December 31, 2023.
Financing Receivable Credit Quality Indicators
The following table summarizes the loan grades applied at December 31, 2024 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans and gross charge-offs for those types of loans for the year then ended by origination year.
Term Loans by Origination YearRevolving
Loans		Revolving Loans Converted to Term
Loans
(Dollars in millions)20242023202220212020PriorTotal
Commercial and industrial:
Pass$9,021 $6,454 $5,845 $3,258 $1,534 $5,147 $26,262 $79 $57,600 
Criticized accrual189 385 402 210 75 528 1,359 37 3,185 
Criticized nonaccrual11 56 98 41 59 220 194 17 696 
Total commercial and industrial$9,221 $6,895 $6,345 $3,509 $1,668 $5,895 $27,815 $133 $61,481 
Gross charge-offs year ended December 31, 2024$7 $33 $60 $23 $30 $37 $126 $— $316 
Real estate:
Commercial:
Pass$674 $1,477 $1,358 $1,222 $1,774 $9,611 $413 $— $16,529 
Criticized accrual39 389 665 253 591 1,839 7 — 3,783 
Criticized nonaccrual1 1 53 26 17 369 1 — 468 
Total commercial real estate
$714 $1,867 $2,076 $1,501 $2,382 $11,819 $421 $— $20,780 
Gross charge-offs year ended December 31, 2024$— $4 $— $1 $5 $104 $— $— $114 
Residential builder and developer:
Pass$380 $236 $40 $12 $4 $10 $60 $— $742 
Criticized accrual15 42 34 — — — — — 91 
Criticized nonaccrual1 — — — — 1 — — 2 
Total residential builder and developer$396 $278 $74 $12 $4 $11 $60 $— $835 
Gross charge-offs year ended December 31, 2024$— $— $— $— $— $3 $— $— $3 
Other commercial construction:
Pass$108 $1,395 $1,091 $269 $175 $379 $42 $— $3,459 
Criticized accrual42 104 687 346 297 145 3 — 1,624 
Criticized nonaccrual— — 17 33 — 16 — — 66 
Total other commercial construction
$150 $1,499 $1,795 $648 $472 $540 $45 $— $5,149 
Gross charge-offs year ended December 31, 2024$— $— $2 $— $— $13 $2 $— $17 
A summary of loans in accrual and nonaccrual status at December 31, 2024 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the year then ended by origination year follows:
Term Loans by Origination YearRevolving
Loans		Revolving Loans Converted to Term
Loans
(Dollars in millions)20242023202220212020PriorTotal
Residential:
Current$2,264 $1,354 $4,394 $3,488 $2,376 $7,874 $103 $— $21,853 
30-89 days past due12 9 111 77 38 472 — — 719 
Accruing loans past due 90 days or more
1 7 39 47 20 201 — — 315 
Nonaccrual— 2 27 16 5 226 3 — 279 
Total residential$2,277 $1,372 $4,571 $3,628 $2,439 $8,773 $106 $— $23,166 
Gross charge-offs year ended
    December 31, 2024		$— $— $— $— $— $6 $— $— $6 
Consumer:
Home equity lines and loans:
Current$— $— $— $2 $2 $91 $3,085 $1,302 $4,482 
30-89 days past due— — — — — 2 — 27 29 
Accruing loans past due 90 days or more
— — — — — — — — — 
Nonaccrual— — — — — 2 — 79 81 
Total home equity lines and loans$— $— $— $2 $2 $95 $3,085 $1,408 $4,592 
Gross charge-offs year ended
    December 31, 2024
$— $— $— $— $— $— $— $4 $4 
Recreational finance:        
Current$3,918 $2,203 $2,044 $1,661 $1,100 $1,503 $— $— $12,429 
30-89 days past due13 18 15 20 15 23 — — 104 
Accruing loans past due 90 days or more
— — — — — — — — — 
Nonaccrual3 6 6 5 4 7 — — 31 
Total recreational finance$3,934 $2,227 $2,065 $1,686 $1,119 $1,533 $— $— $12,564 
Gross charge-offs year ended
    December 31, 2024		$8 $20 $24 $20 $16 $27 $— $— $115 
Automobile:
Current$2,264 $775 $740 $632 $220 $93 $— $— $4,724 
30-89 days past due11 13 13 12 5 4 — — 58 
Accruing loans past due 90 days or more
— — — — — — — — — 
Nonaccrual2 2 3 2 1 2 — — 12 
Total automobile$2,277 $790 $756 $646 $226 $99 $— $— $4,794 
Gross charge-offs year ended
    December 31, 2024		$3 $9 $9 $7 $3 $3 $— $— $34 
Other:
Current$259 $152 $102 $71 $16 $18 $1,515 $1 $2,134 
30-89 days past due4 2 1 1 — — 14 1 23 
Accruing loans past due 90 days or more
— — — — — — 8 — 8 
Nonaccrual2 1 1 — — — 51 — 55 
Total other$265 $155 $104 $72 $16 $18 $1,588 $2 $2,220 
Gross charge-offs year ended
    December 31, 2024		$16 $11 $9 $5 $1 $2 $60 $— $104 
Total loans and leases at
   December 31, 2024
$19,234 $15,083 $17,786 $11,704 $8,328 $28,783 $33,120 $1,543 $135,581 
Total gross charge-offs for the year ended December 31, 2024$34 $77 $104 $56 $55 $195 $188 $4 $713 
The following table summarizes the loan grades applied at December 31, 2023 to the various classes of the Company’s commercial and industrial loans and commercial real estate loans and gross charge-offs for those types of loans for the year then ended by origination year.
 Term Loans by Origination YearRevolving
Loans		Revolving Loans Converted
 to Term Loans		Total
(Dollars in millions)20232022202120202019Prior
Commercial and industrial:
Pass$8,689 $8,087 $4,800 $2,248 $2,169 $4,843 $22,345 $70 $53,251 
Criticized accrual292 279 277 142 127 481 1,460 31 3,089 
Criticized nonaccrual29 68 56 75 36 150 243 13 670 
Total commercial and industrial$9,010 $8,434 $5,133 $2,465 $2,332 $5,474 $24,048 $114 $57,010 
Gross charge-offs year ended December 31, 2023$10 $45 $18 $13 $10 $19 $17 $— $132 
Real estate:
Commercial:
Pass$2,048 $1,742 $1,367 $2,011 $3,059 $8,491 $440 $— $19,158 
Criticized accrual227 891 465 456 966 2,238 7 — 5,250 
Criticized nonaccrual— 46 3 113 93 611 3 — 869 
Total commercial real estate
$2,275 $2,679 $1,835 $2,580 $4,118 $11,340 $450 $— $25,277 
Gross charge-offs year ended December 31, 2023$— $— $— $— $112 $129 $— $— $241 
Residential builder and developer:
Pass$530 $252 $41 $6 $2 $12 $116 $— $959 
Criticized accrual1 18 30 — 59 — 3 — 111 
Criticized nonaccrual— — 3 — — — — — 3 
Total residential builder and developer$531 $270 $74 $6 $61 $12 $119 $— $1,073 
Gross charge-offs year ended December 31, 2023$— $— $— $— $— $— $2 $— $2 
Other commercial construction:
Pass$813 $1,366 $651 $373 $646 $187 $30 $— $4,066 
Criticized accrual53 391 390 691 565 326 — — 2,416 
Criticized nonaccrual— 14 10 46 50 49 2 — 171 
Total other commercial construction
$866 $1,771 $1,051 $1,110 $1,261 $562 $32 $— $6,653 
Gross charge-offs year ended December 31, 2023$— $— $— $— $3 $7 $— $— $10 
A summary of loans in accrual and nonaccrual status at December 31, 2023 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the year then ended by origination year follows.
Term Loans by Origination YearRevolving
Loans		Revolving Loans Converted
 to Term Loans
(Dollars in millions)20232022202120202019PriorTotal
Residential:
Current$1,726 $4,709 $3,732 $2,543 $1,215 $7,885 $95 $— $21,905 
30-89 days past due18 120 88 52 28 488 — — 794 
Accruing loans past due 90 days or more
1 30 28 17 14 205 — — 295 
Nonaccrual1 17 10 3 4 234 1 — 270 
Total residential$1,746 $4,876 $3,858 $2,615 $1,261 $8,812 $96 $— $23,264 
Gross charge-offs year ended December 31, 2023$— $— $1 $— $3 $6 $— $— $10 
Consumer:
Home equity lines and loans:
Current$— $— $2 $2 $13 $98 $3,022 $1,391 $4,528 
30-89 days past due— — — — — 3 — 37 40 
Accruing loans past due 90 days or more
— — — — — — — — — 
Nonaccrual— — — — — 5 3 73 81 
Total home equity lines and loans$— $— $2 $2 $13 $106 $3,025 $1,501 $4,649 
Gross charge-offs year ended December 31, 2023$— $— $— $— $— $— $1 $5 $6 
Recreational finance:
Current$2,653 $2,338 $1,857 $1,286 $781 $1,020 $— $— $9,935 
30-89 days past due11 16 19 14 11 16 — — 87 
Accruing loans past due 90 days or more
— — — — — — — — — 
Nonaccrual3 5 8 6 5 9 — — 36 
Total recreational finance$2,667 $2,359 $1,884 $1,306 $797 $1,045 $— $— $10,058 
Gross charge-offs year ended December 31, 2023$4 $13 $14 $12 $9 $16 $— $— $68 
Automobile:
Current$1,063 $1,096 $1,047 $427 $198 $87 $— $— $3,918 
30-89 days past due8 15 17 9 6 5 — — 60 
Accruing loans past due 90 days or more
— — — — — — — — — 
Nonaccrual2 3 3 2 2 2 — — 14 
Total automobile$1,073 $1,114 $1,067 $438 $206 $94 $— $— $3,992 
Gross charge-offs year ended December 31, 2023$2 $6 $7 $3 $2 $3 $— $— $23 
Other:
Current$250 $176 $118 $33 $13 $18 $1,392 $3 $2,003 
30-89 days past due3 3 2 — — 1 20 1 30 
Accruing loans past due 90 days or more
— — — — — — 7 — 7 
Nonaccrual2 1 1 — — — 48 — 52 
Total other$255 $180 $121 $33 $13 $19 $1,467 $4 $2,092 
Gross charge-offs year ended December 31, 2023$18 $17 $7 $3 $3 $10 $20 $— $78 
Total loans and leases at
   December 31, 2023
$18,423 $21,683 $15,025 $10,555 $10,062 $27,464 $29,237 $1,619 $134,068 
Total gross charge-offs for the year ended December 31, 2023$34 $81 $47 $31 $142 $190 $40 $5 $570 
Changes in Allowance for Credit Losses Changes in the allowance for credit losses for the years ended December 31, 2024, 2023 and 2022 were as follows:
Commercial
and Industrial
Real Estate
Consumer
Total
(Dollars in millions)
Commercial
Residential
2024
Beginning balance$620 $764 $116 $629 $2,129 
Provision for credit losses429 (89)(8)278 610 
Net charge-offs:
Charge-offs(316)(134)(6)(257)(713)
Recoveries36 58 6 58 158 
Net charge-offs(280)(76)— (199)(555)
Ending balance$769 $599 $108 $708 $2,184 
2023
Beginning balance$568 $611 $115 $631 $1,925 
Provision for credit losses132 394 4 115 645 
Net charge-offs:
Charge-offs(132)(253)(10)(175)(570)
Recoveries52 12 7 58 129 
Net charge-offs(80)(241)(3)(117)(441)
Ending balance$620 $764 $116 $629 $2,129 
2022
Beginning balance$335 $506 $72 $556 $1,469 
Allowance on acquired PCD loans48 49 2 — 99 
Provision for credit losses (a)244 93 43 137 517 
Net charge-offs:
Charge-offs (b)(119)(60)(12)(112)(303)
Recoveries60 23 10 50 143 
Net charge-offs(59)(37)(2)(62)(160)
Ending balance$568 $611 $115 $631 $1,925 
__________________________________________________________________________________
(a)Includes $242 million related to non-PCD acquired loans recorded on April 1, 2022.
(b)For the year ended December 31, 2022, net charge-offs do not reflect $33 million of charge-offs related to PCD loans acquired on April 1, 2022.
Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans
Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for the years ended December 31, 2024, 2023 and 2022 follows.
 Amortized Cost with AllowanceAmortized Cost without AllowanceTotalAmortized CostInterest Income Recognized
(Dollars in millions)December 31, 2024January 1, 2024Year Ended December 31, 2024
Commercial and industrial$516 $180 $696 $670 $23 
Real estate:    
Commercial328 140 468 869 43 
Residential builder and developer2 — 2 3 1 
Other commercial construction60 6 66 171 4 
Residential137 142 279 270 15 
Consumer:    
Home equity lines and loans36 45 81 81 6 
Recreational finance21 10 31 36 — 
Automobile9 3 12 14 — 
Other54 1 55 52 — 
Total$1,163 $527 $1,690 $2,166 $92 
(Dollars in millions)December 31, 2023January 1, 2023Year Ended December 31, 2023
Commercial and industrial$397 $273 $670 $504 $22 
Real estate:
Commercial288 581 869 1,240 29 
Residential builder and developer3 — 3 1 — 
Other commercial construction71 100 171 125 2 
Residential100 170 270 350 17 
Consumer:    
Home equity lines and loans42 39 81 85 7 
Recreational finance24 12 36 45 1 
Automobile9 5 14 40 — 
Other52 — 52 49 — 
Total$986 $1,180 $2,166 $2,439 $78 
(Dollars in millions)December 31, 2022January 1, 2022Year Ended December 31, 2022
Commercial and industrial$212 $292 $504 $371 $26 
Real estate:
Commercial366 874 1,240 919 14 
Residential builder and developer1 — 1 3 2 
Other commercial construction59 66 125 111 4 
Residential195 155 350 479 26 
Consumer:     
Home equity lines and loans43 42 85 70 4 
Recreational finance37 8 45 28 1 
Automobile35 5 40 34 — 
Other49 — 49 45 — 
Total$997 $1,442 $2,439 $2,060 $77 
Loan Modification Activities that were Considered Troubled Debt Restructurings The table that follows summarizes the Company’s loan modification activities to borrowers experiencing financial difficulty for the years ended December 31, 2024 and 2023:
Amortized Cost (a)
(Dollars in millions)Term ExtensionOther (b)Combination of Modification
Types (c)		Total (d) (e)
Percent of Total Loan Class
Year Ended December 31, 2024
Commercial and industrial$212 $84 $7 $303 .49 %
Real estate:   
Commercial509 2 4 515 2.48 
Residential builder and developer2 — — 2 .29 
Other commercial construction130 — — 130 2.53 
Residential146 14 17 177 .76 
Consumer:  
Home equity lines and loans1 — 1 2 .04 
Recreational finance1 — — 1 .01 
Automobile— — — — — 
Other— — — — — 
Total$1,001 $100 $29 $1,130 .83% 
Year Ended December 31, 2023
Commercial and industrial$169 $27 $2 $198 .35 %
Real estate:
Commercial610 — 41 651 2.57 
Residential builder and developer69 2 — 71 6.63 
Other commercial construction480 — 8 488 7.34 
Residential148 23 6 177 .76 
Consumer:
Home equity lines and loans— — 1 1 .03 
Recreational finance— — — — — 
Automobile— — — — — 
Other— — — — — 
Total$1,476 $52 $58 $1,586 1.18% 
__________________________________________________________________________________
(a)As of the respective year end.
(b)Primarily payment deferrals or interest rate reductions.
(c)Primarily term extensions combined with interest rate reductions.
(d)Includes approximately $143 million and $124 million of loans guaranteed by government-related entities (primarily first lien residential mortgage loans) at December 31, 2024 and 2023, respectively.
(e)Excludes unfunded commitments to extend credit totaling $69 million and $128 million at December 31, 2024 and 2023, respectively.
The following table summarizes the payment status, at December 31, 2024 and 2023, of loans to borrowers experiencing financial difficulty that were modified during 2024 and 2023.
Payment Status (Amortized Cost) (a)
(Dollars in millions)Current30-89 Days Past DuePast Due 90 Days or More (b)Total
Year Ended December 31, 2024
Commercial and industrial$276 $14 $13 $303 
Real estate:    
Commercial478 37 — 515 
Residential builder and developer1 — 1 2 
Other commercial construction101 25 4 130 
Residential (c)94 41 42 177 
Consumer:
Home equity lines and loans2 — — 2 
Recreational finance1 — — 1 
Automobile— — — — 
Other— — — — 
Total$953 $117 $60 $1,130 
Year Ended December 31, 2023
Commercial and industrial$182 $7 $9 $198 
Real estate:
Commercial618 21 12 651 
Residential builder and developer71 — — 71 
Other commercial construction440 48 — 488 
Residential (c)102 47 28 177 
Consumer:
Home equity lines and loans1 — — 1 
Recreational finance— — — — 
Automobile— — — — 
Other— — — — 
Total$1,414 $123 $49 $1,586 
__________________________________________________________________________________
(a)As of the respective year end.
(b)Predominantly loan modifications with term extensions.
(c)Includes loans guaranteed by government-related entities classified as 30-89 days past due of $34 million and $40 million and as past due 90 days or more of $36 million and $24 million at December 31, 2024 and 2023, respectively.
The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the year ended December 31, 2022. The table is not comparative to the preceding tables presenting loan modification activities to borrowers experiencing financial difficulty. The Company no longer designates modified loans as a troubled debt restructuring in conjunction with the adoption of amended accounting guidance on January 1, 2023.
Post-modification (a)
(Dollars in millions)NumberPre-
modification Recorded
Investment		Principal DeferralOtherCombination of Concession
Types		Total
Year Ended December 31, 2022
Commercial and industrial231$98 $58 $3 $37 $98 
Real estate:    
Commercial1225 9 — 16 25 
Residential builder and
   developer		1— — — — — 
Other commercial construction1— — — — — 
Residential28272 56 — 20 76 
Consumer:
Home equity lines and loans14410 9 — 1 10 
Recreational finance72928 28 — — 28 
Automobile2,09242 42 — — 42 
Other1491 1 — — 1 
Total3,641$276 $203 $3 $74 $280 
__________________________________________________________________________________
(a)Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages.
Lessor, Operating Lease, Carrying Value of Assets Subject to Leases A summary of lease financing receivables follows.
December 31,
(Dollars in millions)20242023
Commercial leases:
Direct financing:
Lease payments receivable$2,710 $2,431 
Estimated residual value of leased assets (a)296 274 
Amounts representing interest(339)(248)
Investment in direct financing leases2,667 2,457 
Leveraged:
Lease payments receivable41 57 
Estimated residual value of leased assets43 52 
Amounts representing interest(10)(15)
Investment in leveraged leases74 94 
Total investment in financing leases$2,741 $2,551 
Deferred taxes payable arising from leveraged leases$25 $36 
__________________________________________________________________________________
(a)Includes $89 million and $96 million in residual values that are guaranteed by the lessees or others at December 31, 2024 and 2023, respectively.
Lessor, Operating Lease, Payment to be Received, Maturity
At December 31, 2024, the minimum future lease payments to be received from lessor receivable arrangements were as follows:
(Dollars in millions)Financing LeasesOperating Leases
Year ending December 31:
2025$918 $36 
2026740 31 
2027518 25 
2028322 19 
2029171 10 
Later years82 14 
$2,751 $135