Fifth Third Bank 2010 Annual Report Download - page 86

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
84 Fifth Third Bancorp
The following table summarizes the Bancorp’s recorded investment in impaired loans and leases and related allowance as of December 31:
2010 2009
($ in millions)
Recorded
Investment
Allowance
Recorded
Investment
Allowance
With a related allowance recorded:
Commercial $695 210 $1,468 510
Residential mortgage 1,071 121 960 108
Consumer 607 107 519 36
Total with a related allowance recorded $2,373 438 $2,947 654
With no related allowance recorded:
Commercial $385 - $214 -
Residential mortgage 121 - 68 -
Consumer 52 - 59 -
Total with no related allowance recorded 558 - 341 -
Total impaired loans and leases $2,931 - $3,288 -
The average balance of impaired loans during 2010, 2009, and 2008 was $3.2 billion, $2.9 billion and $1.5 billion, respectively. Interest income
recognized on impaired loans during 2010, 2009, and 2008 was $74 million, $54 million, and $12 million, respectively.
The following table summarizes the Bancorp’s recorded investment in impaired loans and related allowance by class as of December 31, 2010:
($ in millions)
Recorded
Investment
Unpaid Principal
Balance
Allowance
With a related allowance recorded:
Commercial:
Commercial and industrial loans $291 404 128
Commercial mortgage loans owner-occupied 37 49 4
Commercial mortgage loans nonowner-occupied 202 386 40
Commercial construction loans 150 240 31
Commercial leasing 15 15 7
Restructured residential mortgage loans
Restructured consumer loans:
1,071 1,126 121
Home equity $397 400 53
Automobile 32 33 5
Credit card 100 100 18
Other 78 78 31
Total impaired loans with a related allowance $2,373 2,831 438
With no related allowance recorded:
Commercial:
Commercial and industrial loans $153 194 -
Commercial mortgage loans owner-occupied 99 113 -
Commercial mortgage loans nonowner-occupied 108 126 -
Commercial construction loans 8 24 -
Commercial leasing 17 17 -
Restructured residential mortgage loans
Restructured consumer loans:
121 146 -
Home equity $46 48 -
Automobile 66 -
Total impaired loans with no related allowance $558 674 -
Nonperforming Assets
The following table summarizes the total nonperforming and delinquent loans and leases as of December 31:
($ in millions) 2010 2009
Nonaccrual loans and leases $1,333 $2,642
Restructured nonaccrual loans and leases 347 305
Total nonperforming loans and leases 1,680 2,947
OREO and other repossessed personal property (a) 494 297
Total nonperforming assets (b) $2,174 $3,244
Total loans and leases 90 days past due and still accruing $274 $567
(a) Excludes
$38
and $15 of OREO related to government insured loans at
December 31, 2010
and 2009, respectively.
(b) Excludes
$294
and $224 of nonaccrual loans held for sale at
December 31, 2010
and 2009, respectively.