Fifth Third Bank 2013 Annual Report Download - page 68
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
66 Fifth Third Bancorp
The following table provides an analysis of home equity loans outstanding disaggregated based upon refreshed FICO score:
TABLE 41: HOME EQUITY LOANS OUTSTANDING BY REFRESHED FICO SCORE
December 31,
2013
% of
Total
December 31,
2012
% of
Total
($ in millions)
Senior Liens:
FICO < 620 $ 201 2 % $ 224 2 %
FICO 621-719 638 7 653 6
FICO > 720 2,253 24 2,374 24
Total Senior Liens 3,092 33 3,251 32
J
unior Liens:
FICO < 620 565 6 661 7
FICO 621-719 1,662 18 1,817 18
FICO > 720 3,927 43 4,289 43
Total Junior Liens 6,154 67 6,767 68
Total $ 9,246 100 % $ 10,018 100 %
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 42: HOME EQUITY LOANS OUTSTANDING BY LTV AT ORIGINATION
2013 2012
Weighted
Average LTV
Weighted
Average LTV
A
s of December 31 ($ in millions) Outstanding Outstanding
Senior Liens:
LTV ≤ 80% $ 2,645 54.9 % $ 2,763 54.9 %
LTV > 80% 447 89.2 488 88.9
Total Senior Liens 3,092 60.1 3,251 60.2
J
unior Liens:
LTV ≤ 80% 3,353 67.3 3,602 67.3
LTV > 80% 2,801 91.4 3,165 91.6
Total Junior Liens 6,154 80.2 6,767 80.5
Total $ 9,246 72.9 % $ 10,018 73.4 %
The following tables provide analysis of home equity loans by state with LTV greater than 80%:
TABLE 43: HOME EQUITY LOANS OUTSTANDING WITH LTV GREATER THAN 80%
A
s of December 31, 2013 ($ in millions)
For the Year Ended
December 31, 2013
90 Days
By State: Outstanding Exposure Past Due Nonaccrual(a) Net Charge-offs(b)
Ohio $ 1,161 1,868 - 10 18
Michigan 697 987 - 7 14
Illinois 383 554 - 6 9
Indiana 296 454 - 3 4
Kentucky 278 436 - 2 3
Florida 116 157 - 3 4
A
ll other states 317 425 - 4 7
Total $ 3,248 4,881 - 35 59
(a) During the fourth quarter of 2013, the Bancorp modified its nonaccrual policy for home equity loans and lines of credit. For further information, refer to the Analysis of Nonperforming Assets section
of MD&A.
(b) During the fourth quarter of 2013, the Bancorp modified its charge-off policy for home equity loans and lines of credit. For further information, refer to the Analysis of Net Loan Charge-offs section
of MD&A.