US Bank 2014 Annual Report Download - page 104

The following table provides a summary of loans by portfolio class, including the delinquency status of those that continue to
accrue interest, and those that are nonperforming:
Accruing
(Dollars in Millions) Current
30-89 Days
Past Due
90 Days or
More Past Due Nonperforming Total
December 31, 2014
Commercial ............................................... $ 79,977 $ 247 $ 41 $ 112 $ 80,377
Commercial real estate.................................... 42,406 110 20 259 42,795
Residential mortgages(a) ................................... 50,330 221 204 864 51,619
Credit card ................................................ 18,046 229 210 30 18,515
Other retail ................................................ 48,764 238 75 187 49,264
Total loans, excluding covered loans .................... 239,523 1,045 550 1,452 242,570
Covered loans ............................................. 4,804 68 395 14 5,281
Total loans .............................................. $244,327 $1,113 $ 945 $1,466 $247,851
December 31, 2013
Commercial ............................................... $ 69,587 $ 257 $ 55 $ 134 $ 70,033
Commercial real estate.................................... 39,459 94 29 303 39,885
Residential mortgages(a) ................................... 49,695 358 333 770 51,156
Credit card ................................................ 17,507 226 210 78 18,021
Other retail ................................................ 47,156 245 86 191 47,678
Total loans, excluding covered loans .................... 223,404 1,180 713 1,476 226,773
Covered loans ............................................. 7,693 166 476 127 8,462
Total loans .............................................. $231,097 $1,346 $1,189 $1,603 $235,235
(a) At December 31, 2014, $431 million of loans 30–89 days past due and $3.1 billion of loans 90 days or more past due purchased from Government National Mortgage Association (“GNMA”)
mortgage pools whose repayments are insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs, were classified as current, compared with $440
million and $3.7 billion at December 31, 2013, respectively.
Total nonperforming assets include nonaccrual loans,
restructured loans not performing in accordance with
modified terms, other real estate and other nonperforming
assets owned by the Company. For details of the Company’s
nonperforming assets as of December 31, 2014 and 2013,
see Table 16 included in Management’s Discussion and
Analysis which is incorporated by reference into these Notes
to Consolidated Financial Statements.
At December 31, 2014, the amount of foreclosed
residential real estate held by the Company, and included in
other real estate owned, was $270 million ($233 million
excluding covered assets). This excludes $641 million of
foreclosed residential real estate related to mortgage loans
whose payments are primarily insured by the Federal
Housing Administration or guaranteed by the Department of
Veterans Affairs. In addition, the amount of residential
mortgage loans secured by residential real estate in the
process of foreclosure at December 31, 2014, was $2.9
billion, of which $2.1 billion related to loans purchased from
Government National Mortgage Association (“GNMA”)
mortgage pools whose repayments are insured by the
Federal Housing Administration or guaranteed by the
Department of Veterans Affairs.
102