SunTrust 2014 Annual Report Download - page 124
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Notes to Consolidated Financial Statements, continued
101
Impaired Loans
A loan is considered impaired when it is probable that the
Company will be unable to collect all amounts due, including
principal and interest, according to the contractual terms of the
agreement. Commercial nonaccrual loans greater than $3
million and certain commercial, residential, and consumer
loans whose terms have been modified in a TDR are
individually evaluated for impairment. Smaller-balance
homogeneous loans that are collectively evaluated for
impairment are not included in the following tables.
Additionally, the tables below exclude guaranteed student loans
and guaranteed residential mortgages for which there was
nominal risk of principal loss.
December 31, 2014 December 31, 2013
(Dollars in millions)
Unpaid
Principal
Balance Amortized
Cost1Related
Allowance
Unpaid
Principal
Balance Amortized
Cost1Related
Allowance
Impaired loans with no related allowance recorded:
Commercial loans:
C&I $70 $51 $— $81 $56 $—
CRE 12 11 — 61 60 —
Total commercial loans 82 62 — 142 116 —
Residential loans:
Residential mortgages - nonguaranteed 592 425 — 672 425 —
Residential construction 31 9 — 68 17 —
Total residential loans 623 434 — 740 442 —
Impaired loans with an allowance recorded:
Commercial loans:
C&I 27 26 7 51 49 10
CRE 4 4 4 8 3 —
Commercial construction — — — 6 3 —
Total commercial loans 31 30 11 65 55 10
Residential loans:
Residential mortgages - nonguaranteed 1,381 1,354 215 1,685 1,626 226
Home equity products 703 630 66 710 638 96
Residential construction 145 145 19 173 172 23
Total residential loans 2,229 2,129 300 2,568 2,436 345
Consumer loans:
Other direct 13 13 1 14 14 —
Indirect 105 105 5 83 83 5
Credit cards 8 8 2 13 13 3
Total consumer loans 126 126 8 110 110 8
Total impaired loans $3,091 $2,781 $319 $3,625 $3,159 $363
1 Amortized cost reflects charge-offs that have been recognized plus other amounts that have been applied to reduce the net book balance.
Included in the impaired loan balances above were $2.5 billion
and $2.7 billion of accruing TDRs at amortized cost, at
December 31, 2014 and 2013, respectively, of which 96% were
current at both year ends. See Note 1, “Significant Accounting
Policies,” for further information regarding the Company’s loan
impairment policy.