US Bank 2015 Annual Report Download - page 105

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, 2015
Commercial ......................................... $ 87,863 $ 317 $ 48 $ 174 $ 88,402
Commercial real estate ................................ 41,907 89 14 127 42,137
Residential mortgages(a) ............................... 52,438 170 176 712 53,496
Credit card .......................................... 20,532 243 228 9 21,012
Other retail .......................................... 50,745 224 75 162 51,206
Total loans, excluding covered loans ................... 253,485 1,043 541 1,184 256,253
Covered loans ....................................... 4,236 62 290 8 4,596
Total loans ........................................ $257,721 $1,105 $831 $1,192 $260,849
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
(a) At December 31, 2015, $320 million of loans 30–89 days past due and $2.9 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 $431
million and $3.1 billion at December 31, 2014, 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, 2015 and 2014,
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, 2015, the amount of foreclosed
residential real estate held by the Company, and included in
OREO, was $282 million ($250 million excluding covered
assets), compared with $270 million ($233 million excluding
covered assets) at December 31, 2014. This excludes $535
million and $641 million at December 31, 2015 and 2014,
respectively, 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, 2015 and 2014,
was $2.6 billion and $2.9 billion, respectively, of which $1.9
billion and $2.1 billion, respectively, 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.
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