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LOANS AND LEASES
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
LOANS AND LEASES
NOTE 3 - LOANS AND LEASES
Loans held for investment are reported at the amount of their outstanding principal, net of charge-offs, unearned income, deferred loan origination fees and costs, and unamortized premiums or discounts on purchased loans.
The following table presents loans and leases, excluding LHFS:
(dollars in millions)March 31, 2025December 31, 2024
Commercial and industrial$43,781 $42,551 
Commercial real estate26,727 27,225 
Total commercial70,508 69,776 
Residential mortgages33,114 32,726 
Home equity16,853 16,495 
Automobile4,044 4,744 
Education8,779 10,812 
Other retail4,337 4,650 
Total retail67,127 69,427 
Total loans and leases$137,635 $139,203 
Accrued interest receivable on loans and leases held for investment totaled $817 million and $816 million as of March 31, 2025 and December 31, 2024, respectively, and is included in other assets in the Consolidated Balance Sheets.
Loans pledged as collateral for FHLB borrowing capacity, primarily residential mortgages and home equity products, totaled $38.6 billion and $37.5 billion at March 31, 2025 and December 31, 2024, respectively. Loans pledged as collateral to support the contingent ability to borrow at the FRB discount window, if necessary, were primarily comprised of education, commercial and industrial, and commercial real estate loans, and totaled $22.3 billion and $22.9 billion at March 31, 2025 and December 31, 2024, respectively.
Interest income on direct financing and sales-type leases for the three months ended March 31, 2025 and 2024 was $11 million and is reported within interest and fees on loans and leases in the Consolidated Statements of Operations.
The following table presents the composition of LHFS:
March 31, 2025December 31, 2024
(dollars in millions)
Residential Mortgages(1)
Other retail(2)
Commercial(3)
Total
Residential Mortgages(1)
Commercial(3)
Total
Loans held for sale at fair value$922 $— $215 $1,137 $633 $192 $825 
Other loans held for sale— 1,644 39 1,683 — 33 33 
Total loans held for sale
$922 $1,644 $254 $2,820 $633 $225 $858 
(1) Residential mortgage LHFS at fair value are originated for sale.
(2) Other retail LHFS consist of education loans.
(3) Commercial LHFS at fair value consist of loans managed by the Company’s commercial secondary loan desk.