Fifth Third Bank 2012 Annual Report Download - page 66
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
64 Fifth Third Bancorp
The Bancorp believes that home equity loans with a greater than 80% combined LTV ratio present a higher level of risk. The following table
provides an analysis of the home equity loans outstanding in a first and second lien position by LTV at origination:
TABLE 41: HOME EQUITY LOANS OUTSTANDING BY LTV AT ORIGINATION
2012 2011
Weighted
Average LTV
Weighted
Average LTV
A
s of December 31 ($ in millions) Outstanding Outstanding
First Liens:
LTV ≤ 80% $ 2,763 54.9 % $ 2,800 54.9 %
LTV > 80% 488 88.9 523 89.2
Total First Liens 3,251 60.2 3,323 60.4
Second Liens:
LTV ≤ 80% 3,602 67.3 3,882 67.3
LTV > 80% 3,165 91.6 3,514 91.8
Total Second Liens 6,767 80.5 7,396 81.0
Total $ 10,018 73.4 % $ 10,719 74.0 %
The following tables provide analysis of home equity loans by state with LTV greater than 80% as of December 31, 2012 and 2011:
TABLE 42: HOME EQUITY LOANS OUTSTANDING WITH LTV GREATER THAN 80%
A
s of December 31, 2012 ($ in millions)
For the Year Ended
December 31, 2012
90 Days
Net Charge-offs By State: Outstanding Exposure Past Due Nonaccrual
Ohio $ 1,254 1,927 8 6 24
Michigan 795 1,108 6 4 24
Illinois 428 611 5 3 17
Indiana 348 521 2 2 5
Kentucky 327 499 2 1 6
Florida 130 175 2 3 8
A
ll other states 371 491 4 2 17
Total $ 3,653 5,332 29 21 101
TABLE 43: HOME EQUITY LOANS OUTSTANDING WITH LTV GREATER THAN 80%
A
s of December 31, 2011 ($ in millions)
For the Year Ended
December 31, 2011
90 Days
Net Charge-offs By State: Outstanding Exposure Past Due Nonaccrual
Ohio $ 1,393 2,083 12 7 33
Michigan 884 1,197 8 4 37
Illinois 448 630 8 2 17
Indiana 391 573 2 2 9
Kentucky 366 549 3 2 8
Florida 146 190 4 3 17
A
ll other states 409 519 5 2 19
Total $ 4,037 5,741 42 22 140
Automobile Portfolio
The automobile portfolio is characterized by direct and indirect
lending products to consumers. As of December 31, 2012, 50% of
the automobile loan portfolio is comprised of new automobiles. It is
a common practice to advance on automobile loans an amount in
excess of the automobile value due to the inclusion of taxes, title,
and other fees paid at closing. The Bancorp monitors its exposure
to these higher risk loans.
The following table provides an analysis of automobile loans outstanding by LTV at origination:
TABLE 44: AUTOMOBILE LOANS OUTSTANDING WITH LTV AT ORIGINATION
2012 2011
Weighted
Average LTV
Weighted
Average LTV
A
s of December 31 ($ in millions) Outstanding Outstanding
LTV ≤ 100% $ 8,123 81.5 % $ 7,805 81.7 %
LTV > 100% 3,849 110.8 4,022 111.5
Total $ 11,972 91.2 % $ 11,827 92.1 %