SunTrust 2014 Annual Report Download - page 126

Notes to Consolidated Financial Statements, continued
103
NPAs are shown in the following table:
(Dollars in millions) December 31, 2014 December 31, 2013
Nonaccrual/NPLs:
Commercial loans:
C&I $151 $196
CRE 21 39
Commercial construction 112
Residential loans:
Residential mortgages - nonguaranteed 254 441
Home equity products 174 210
Residential construction 27 61
Consumer loans:
Other direct 65
Indirect —7
Total nonaccrual/NPLs 1634 971
OREO 299 170
Other repossessed assets 97
Nonperforming LHFS 38 17
Total NPAs $780 $1,165
1 Nonaccruing restructured loans are included in total nonaccrual/NPLs.
2 Does not include foreclosed real estate related to loans insured by the FHA or the VA. Proceeds due from the FHA and the VA are recorded as a receivable in other assets in the
Consolidated Balance Sheets until the funds are received and the property is conveyed. The receivable amount related to proceeds due from the FHA or the VA totaled $57 million and
$88 million at December 31, 2014 and 2013, respectively.
Restructured Loans
TDRs are loans in which the borrower is experiencing financial
difficulty and the Company has granted an economic
concession to the borrower that the Company would not
otherwise consider. When loans are modified under the terms
of a TDR, the Company typically offers the borrower an
extension of the loan maturity date and/or a reduction in the
original contractual interest rate. In certain situations, the
Company may offer to restructure a loan in a manner that
ultimately results in the forgiveness of contractually specified
principal balances.
At December 31, 2014 and 2013, the Company had $1
million and $8 million, respectively, in commitments to lend
additional funds to debtors whose terms have been modified in
a TDR.
The number and amortized cost of loans modified under
the terms of a TDR by type of modification are shown in the
following tables:
2014 1
(Dollars in millions)
Number of
Loans
Modified Principal
Forgiveness 2Rate Modification 2,3
Term Extension
and/or Other
Concessions Total
Commercial loans:
C&I 78 $— $1 $37 $38
CRE 6 4 — 3 7
Residential loans:
Residential mortgages - nonguaranteed 1,135 10 127 44 181
Home equity products 1,977 — 7 86 93
Residential construction 11 — 1 — 1
Consumer loans:
Other direct 71 — — 1 1
Indirect 2,928 — — 57 57
Credit cards 450 — 2 — 2
Total TDRs 6,656 $14 $138 $228 $380
1 Includes loans modified under the terms of a TDR that were charged-off during the period.
2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term
extensions. The total amount of charge-offs associated with principal forgiveness during the year ended December 31, 2014 was $14 million.
3 Restructured loans which had a modification of the loan's contractual interest rate may also have had an extension of the loan's contractual maturity date and/or other concessions. The
financial effect of modifying the interest rate on the loans modified as a TDR was immaterial to the financial statements during the year ended December 31, 2014.