SunTrust 2015 Annual Report Download - page 130
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Notes to Consolidated Financial Statements, continued
102
NOTE 7 - ALLOWANCE FOR CREDIT LOSSES
The allowance for credit losses consists of the ALLL and the unfunded commitments reserve. Activity in the allowance for credit
losses is summarized in the following table:
Year Ended December 31
(Dollars in millions) 2015 2014 2013
Balance, beginning of period $1,991 $2,094 $2,219
Provision for loan losses 156 338 548
Provision for unfunded commitments 94 5
Loan charge-offs (470) (607) (869)
Loan recoveries 129 162 191
Balance, end of period $1,815 $1,991 $2,094
Components:
ALLL $1,752 $1,937 $2,044
Unfunded commitments reserve 163 54 50
Allowance for credit losses $1,815 $1,991 $2,094
1 The unfunded commitments reserve is recorded in other liabilities in the Consolidated Balance Sheets.
Activity in the ALLL by loan segment for the years ended December 31 is presented in the following tables:
2015
(Dollars in millions) Commercial Residential Consumer Total
Balance, beginning of period $986 $777 $174 $1,937
Provision/(benefit) for loan losses 133 (67) 90 156
Loan charge-offs (117) (218) (135) (470)
Loan recoveries 45 42 42 129
Balance, end of period $1,047 $534 $171 $1,752
2014
(Dollars in millions) Commercial Residential Consumer Total
Balance, beginning of period $946 $930 $168 $2,044
Provision for loan losses 111 126 101 338
Loan charge-offs (128) (344) (135) (607)
Loan recoveries 57 65 40 162
Balance, end of period $986 $777 $174 $1,937
As discussed in Note 1, “Significant Accounting Policies,” the
ALLL is composed of both specific allowances for certain
nonaccrual loans and TDRs and general allowances grouped into
loan pools based on similar characteristics. No allowance is
required for loans measured at fair value. Additionally, the
Company records an immaterial allowance for loan products that
are guaranteed by government agencies, as there is nominal risk
of principal loss. The Company’s LHFI portfolio and related
ALLL is presented in the following tables.
December 31, 2015
Commercial Residential Consumer Total
(Dollars in millions)
Carrying
Value ALLL
Carrying
Value ALLL
Carrying
Value ALLL
Carrying
Value ALLL
Individually evaluated $218 $28 $2,527 $252 $131 $7 $2,876 $287
Collectively evaluated 75,034 1,019 36,144 282 22,131 164 133,309 1,465
Total evaluated 75,252 1,047 38,671 534 22,262 171 136,185 1,752
LHFI at fair value — — 257 — — — 257 —
Total LHFI $75,252 $1,047 $38,928 $534 $22,262 $171 $136,442 $1,752