PNC Bank 2015 Annual Report Download - page 237
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SUMMARY OF LOAN LOSS EXPERIENCE
Year ended December 31 – dollars in millions 2015 2014 2013 2012 2011
Allowance for loan and lease losses – January 1 $3,331 $ 3,609 $ 4,036 $ 4,347 $ 4,887
Charge-offs
Commercial (206) (276) (395) (474) (700)
Commercial real estate (44) (70) (203) (314) (464)
Equipment lease financing (5) (14) (8) (16) (35)
Home equity (181) (275) (486) (560) (484)
Residential real estate (24) (40) (133) (110) (153)
Credit card (160) (163) (178) (200) (235)
Other consumer (185) (183) (185) (196) (193)
Total charge-offs (805) (1,021) (1,588) (1,870) (2,264)
Recoveries
Commercial 170 207 248 300 332
Commercial real estate 66 84 93 115 105
Equipment lease financing 4 14 16 30 50
Home equity 93 78 73 61 48
Residential real estate 13 26 4 (1) 11
Credit card 21 21 22 26 23
Other consumer 52 60 55 50 56
Total recoveries 419 490 511 581 625
Net charge-offs (386) (531) (1,077) (1,289) (1,639)
Provision for credit losses 255 273 643 987 1,152
Net change in allowance for unfunded loan commitments and letters of credit (2) (17) 8 (10) (52)
Write-off of purchased impaired loans (a) (468)
Other (3) (3) (1) 1 (1)
Allowance for loan and lease losses – December 31 $2,727 $ 3,331 $ 3,609 $ 4,036 $ 4,347
Allowance as a percentage of December 31:
Loans (a) 1.32% 1.63% 1.84% 2.17% 2.73%
Nonperforming loans 128 133 117 124 122
As a percentage of average loans
Net charge-offs .19 .27 .57 .73 1.08
Provision for credit losses .12 .14 .34 .56 .76
Allowance for loan and lease losses (a) 1.33 1.67 1.90 2.28 2.86
Allowance as a multiple of net charge-offs 7.06x 6.27x 3.35x 3.13x 2.65x
(a) A portion of the ALLL associated with purchased impaired pooled consumer and residential real estate loans was derecognized on December 31, 2015 due to the change in the
derecognition policy for these loans. The December 31, 2015 ratio of ALLL to total loans was impacted by the derecognition. See Note 4 Purchased Loans for additional information.
The PNC Financial Services Group, Inc. – Form 10-K 219