US Bank 2015 Annual Report Download - page 54

TABLE 16 NONPERFORMING ASSETS (a)
At December 31 (Dollars in Millions) 2015 2014 2013 2012 2011
Commercial
Commercial ................................................ $ 160 $ 99 $ 122 $ 107 $ 280
Lease financing ............................................. 14 13 12 16 32
Total commercial .......................................... 174 112 134 123 312
Commercial Real Estate
Commercial mortgages ...................................... 92 175 182 308 354
Construction and development ................................ 35 84 121 238 545
Total commercial real estate ................................. 127 259 303 546 899
Residential Mortgages(b)
...................................... 712 864 770 661 650
Credit Card ................................................. 9 30 78 146 224
Other Retail
Retail leasing ............................................... 3111–
Home equity and second mortgages ............................ 136 170 167 189 40
Other ..................................................... 23 16 23 27 27
Total other retail ........................................... 162 187 191 217 67
Total nonperforming loans, excluding covered loans ............ 1,184 1,452 1,476 1,693 2,152
Covered Loans .............................................. 8 14 127 386 926
Total nonperforming loans ................................ 1,192 1,466 1,603 2,079 3,078
Other Real Estate(c)(d)
......................................... 280 288 327 381 404
Covered Other Real Estate(d)
.................................. 32 37 97 197 274
Other Assets ................................................ 19 17 10 14 18
Total nonperforming assets ............................... $1,523 $1,808 $2,037 $2,671 $3,774
Total nonperforming assets, excluding covered assets .......... $1,483 $1,757 $1,813 $2,088 $2,574
Excluding covered assets
Accruing loans 90 days or more past due(b) ...................... $ 541 $ 550 $ 713 $ 660 $ 843
Nonperforming loans to total loans ............................. .46% .60% .65% .80% 1.10%
Nonperforming assets to total loans plus other real estate(c) .......... .58% .72% .80% .98% 1.32%
Including covered assets
Accruing loans 90 days or more past due(b) ...................... $ 831 $ 945 $1,189 $1,323 $1,753
Nonperforming loans to total loans ............................. .46% .59% .68% .93% 1.47%
Nonperforming assets to total loans plus other real estate(c) .......... .58% .73% .86% 1.19% 1.79%
CHANGES IN NONPERFORMING ASSETS
(Dollars in Millions)
Commercial and
Commercial
Real Estate
Residential
Mortgages,
Credit Card and
Other Retail
Covered
Assets Total
Balance December 31, 2014 .................................... $ 431 $1,326 $ 51 $ 1,808
Additions to nonperforming assets
New nonaccrual loans and foreclosed properties ................... 394 500 24 918
Advances on loans ........................................... 54 – – 54
Total additions ............................................. 448 500 24 972
Reductions in nonperforming assets
Paydowns, payoffs ........................................... (271) (275) (8) (554)
Net sales ................................................... (53) (129) (25) (207)
Return to performing status .................................... (6) (171) (1) (178)
Charge-offs(e) ................................................ (213) (104) (1) (318)
Total reductions ........................................... (543) (679) (35) (1,257)
Net additions to (reductions in) nonperforming assets ........... (95) (179) (11) (285)
Balance December 31, 2015 ..................................... $ 336 $1,147 $ 40 $ 1,523
(a) Throughout this document, nonperforming assets and related ratios do not include accruing loans 90 days or more past due.
(b) Excludes $2.9 billion, $3.1 billion, $3.7 billion, $3.2 billion and $2.6 billion at December 31, 2015, 2014, 2013, 2012 and 2011, respectively, of loans purchased from GNMA mortgage pools
that are 90 days or more past due that continue to accrue interest, as their repayments are primarily insured by the Federal Housing Administration or guaranteed by the Department of
Veterans Affairs.
(c) Foreclosed GNMA loans of $535 million, $641 million, $527 million, $548 million and $692 million at December 31, 2015, 2014, 2013, 2012 and 2011, respectively, continue to accrue interest
and are recorded as other assets and excluded from nonperforming assets because they are insured by the Federal Housing Administration or guaranteed by the Department of Veterans
Affairs.
(d) Includes equity investments in entities whose principal assets are other real estate owned.
(e) Charge-offs exclude actions for certain card products and loan sales that were not classified as nonperforming at the time the charge-off occurred.
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