Fifth Third Bank 2011 Annual Report Download - page 64

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
62 Fifth Third Bancorp
TABLE 45: SUMMARY OF NONPERFORMING ASSETS AND DELINQUENT LOANS
A
s of December 31 ($ in millions) 2011 2010 2009 2008 2007
Nonaccrual loans and leases:
Commercial and industrial loans (a) $408 473 734 541 175
Commercial mortgage loans 358 407 898 482 243
Commercial construction loans 123 182 646 362 249
Commercial leases 9 11 67 21 5
Residential mortgage loans 134 152 275 259 92
Home equity 25 23 21 26 45
A
utomobile loans - 1 1 5 3
Other consumer loans and leases(a) 1 84 - - 1
Restructured loans and leases:
Commercial and industrial loans 79 95 35 - -
Commercial mortgage loans 63 28 4 - -
Commercial construction loans 15 10 8 - -
Commercial leases 3 8 - - -
Residential mortgage loans(b) 141 116 137 20 27
Home equity(b) 29 33 33 29 11
A
utomobile loans(b) 2 2 1 1 -
Credit card 48 55 87 30 5
Total nonperforming loans and leases 1,438 1,680 2,947 1,776 856
OREO and other repossessed property 378 494 297 230 171
Total nonperforming assets 1,816 2,174 3,244 2,006 1,027
Nonaccrual loans held for sale 138 294 224 473 -
Total nonperforming assets including loans held for sale $1,954 2,468 3,468 2,479 1,027
Loans and leases 90 days past due and accruing
Commercial and industrial loans $ 4 16 118 76 44
Commercial mortgage loans 3 11 59 136 73
Commercial construction loans 1 3 17 74 67
Commercial leases - - 4 4 4
Residential mortgage loans(d) 79 100 189 198 186
Home equity 74 89 99 96 72
A
utomobile loans 9 13 17 21 13
Credit card and other 30 42 64 56 31
Other consumer loans and leases - - - 1 1
Total loans and leases 90 days past due and accruing $200 274 567 662 491
Nonperforming assets as a percent of portfolio loans, leases and
other assets, including OREO(c) 2.23 %2.79 4.22 2.38 1.25
A
llowance for loan and lease losses as a percent of
nonperforming assets(b) 124 138 116 139 93
(a) For 2010, nonaccrual loans and leases reflect a reclassification of $84 million in nonperforming loans from commercial and industrial loans to other consumer loans and leases which occurred after the
Bancorp’s Form 8-K was filed on January 19, 2011. This reclassification was primarily a result of the determination that consumer loans obtained in the foreclosure of a commercial loan were more
appropriately categorized as other consumer loans and leases in accordance with regulatory guidance.
(b) During 2009, the Bancorp modified its consumer nonaccrual policy to exclude TDR loans that were less than 90 days past due because they were performing in accordance with the restructured terms.
For comparability purposes, prior periods were adjusted to reflect this reclassification.
(c) Excludes nonaccrual loans held for sale.
(d) Information for all periods presented excludes advances made pursuant to servicing agreements to GNMA mortgage loan pools whose repayments are insured by the Federal Housing Administration
or guaranteed by the Department of Veterans Affairs. As of
December 31, 2011 , 2010, 2009, 2008, and 2007 these advances were $309 , $279, $130, $40, and $25, respectively. The
Bancorp recognized immaterial credit losses for the year ended December 31, 2011 and $2 million for 2010 due to claim denials and curtailments associated with these advances.