Comerica 2011 Annual Report Download - page 67
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F-30
Loans past due 30-89 days decreased $6 million to $275 million at December 31, 2011, compared to $281 million at
December 31, 2010. Loans past due 90 days or more and still accruing interest generally represent loans that are well collateralized
and in a continuing process of collection. Loans past due 90 days or more and still accruing decreased $4 million to $58 million
at December 31, 2011, compared to $62 million at December 31, 2010, and are summarized in the following table. For further
information regarding past due loans, refer to Note 5 to the consolidated financial statements.
(in millions)
December 31
Business loans:
Commercial
Real estate construction
Commercial mortgage
International
Total business loans
Retail loans:
Residential mortgage
Consumer
Total retail loans
Total loans past due 90 days or more and still accruing
2011
$ 8
1
32
—
41
6
11
17
$ 58
2010
$ 3
22
16
—
41
7
14
21
$ 62
The following table presents a summary of total internal watch list loans at December 31, 2011 and 2010. Watch list
loans that meet certain criteria are individually subjected to quarterly credit quality reviews, and the Corporation may establish
specific allowances for such loans. The $1.1 billion decrease in total watch list loans, compared to December 31, 2010, is reflected
in the decrease in the allowance for loan losses in the same period. For further information regarding internal watch list loans,
refer to Note 5 to the consolidated financial statements.
(dollar amounts in millions)
December 31
Total watch list loans
As a percentage of total loans
2011
$ 4,467
10.5%
2010
$ 5,542
13.8%
The following table presents a summary of foreclosed property by property type as of December 31, 2011 and 2010.
(in millions)
December 31
Construction, land development and other land
Single family residential properties
Other non-land, nonresidential properties
Total foreclosed property
2011
$ 32
14
48
$ 94
2010
$ 60
20
32
$ 112
At December 31, 2011, foreclosed property totaled $94 million and consisted of approximately 223 properties, compared
to $112 million and approximately 230 properties at December 31, 2010.
The following table presents a summary of changes in foreclosed property.
(in millions)
Years Ended December 31
Balance at January 1
Acquired in foreclosure
Acquired in acquisition of Sterling
Write-downs
Foreclosed property sold (a)
Capitalized expenditures
Balance at December 31
(a) Net gain on foreclosed property sold
2011
$ 112
69
32
(17)
(102)
—
$ 94
$ 4
2010
$ 111
104
—
(23)
(81)
1
$ 112
$ 7
At December 31, 2011, there were 8 foreclosed properties each with a carrying value greater than $2 million, totaling
$44 million, compared to 10 foreclosed properties totaling $61 million at December 31, 2010. Of the foreclosed properties with