SunTrust 2010 Annual Report Download - page 130
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SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
As of December 31, 2009
(Dollars in millions)
Unpaid
Principal
Balance
Amortized
Cost1
Related
Allowance
Impaired loans with no related allowance recorded:
Commercial loans:
Commercial & industrial $170 $153 $-
Commercial real estate 36 32 -
Commercial construction 92 82 -
Total commercial loans 298 267 -
Impaired loans with an allowance recorded:
Commercial loans:
Commercial & industrial 214 191 56
Commercial real estate 74 67 11
Commercial construction 860 770 127
Total commercial loans 1,148 1,028 194
Residential loans:
Residential mortgages - nonguaranteed 2,075 1,991 272
Home equity products 287 287 48
Residential construction 180 174 23
Total residential loans 2,542 2,452 343
Consumer loans:
Other direct 6 6 1
Total impaired loans $3,994 $3,753 $538
1Amortized cost reflects charge-offs that have been recognized plus other amounts that have been applied to
reduce net book balance.
The tables above exclude student loans and residential mortgages that were guaranteed by government agencies and for
which there was nominal risk of principal loss.
The average recorded investment in loans individually evaluated for impairment and restructured loans for the years ended
December 31, 2010, 2009, and 2008 was $4.1 billion, $3.0 billion, and $1.0 billion, respectively.
Nonperforming assets at December 31, 2010 and 2009 are shown in the following table:
(Dollars in millions)
December 31,
2010
December 31,
2009
Nonperforming Assets
Nonaccrual/NPLs:
Commercial loans:
Commercial & industrial1$584 $732
Commercial real estate 342 191
Commercial construction 961 1,247
Residential loans:
Residential mortgages - nonguaranteed21,543 2,283
Home equity products 355 367
Residential construction 290 529
Consumer loans:
Other direct 10 8
Indirect 25 45
Total nonaccrual/NPLs 4,110 5,402
OREO3596 620
Other repossessed assets 52 79
Total nonperforming assets $4,758 $6,101
1Includes $4 million and $12 million of loans carried at fair value at December 31, 2010 and 2009, respectively.
2Includes $24 million and $34 million of loans carried at fair value at December 31, 2010 and 2009, respectively.
3Does not include foreclosed real estate related to serviced loans insured by the FHA or the VA. Insurance
proceeds due from the FHA and the VA are recorded as a receivable in other assets until the funds are received
and the property is conveyed.
114