Fifth Third Bank 2014 Annual Report Download - page 67
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
65 Fifth Third Bancorp
The following table provides an analysis of home equity loans outstanding disaggregated based upon refreshed FICO score as of:
TABLE 42: HOME EQUITY PORTFOLIO LOANS OUTSTANDING BY REFRESHED FICO SCORE
December 31, 2014
% of
December 31, 2013
% of
($ in millions) Total Total
Senior Liens:
FICO < 620 $ 178 2 % $ 201 2 %
FICO 621-719 613 7 638 7
FICO > 720 2,257 25 2,253 24
Total Senior Liens 3,048 34 3,092 33
J
unior Liens:
FICO < 620 471 6 565 6
FICO 621-719 1,542 17 1,662 18
FICO > 720 3,825 43 3,927 43
Total Junior Liens 5,838 66 6,154 67
Total $ 8,886 100 % $ 9,246 100 %
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 senior and junior lien position by LTV at origination:
TABLE 43: HOME EQUITY PORTFOLIO LOANS OUTSTANDING BY LTV AT ORIGINATION
2014 2013
Weighted
Average LTV
Weighted
Average LTV
A
s of December 31 ($ in millions) Outstanding Outstanding
Senior Liens:
LTV 80% $ 2,635 55.2 % $ 2,645 54.9 %
LTV > 80% 413 89.1 447 89.2
Total Senior Liens 3,048 60.0 3,092 60.1
J
unior Liens:
LTV 80% 3,281 67.4 3,353 67.3
LTV > 80% 2,557 91.1 2,801 91.4
Total Junior Liens 5,838 79.6 6,154 80.2
Total $ 8,886 72.4 % $ 9,246 72.9 %
The following tables provide an analysis of home equity loans by state with a combined LTV greater than 80%:
TABLE 44: HOME EQUITY PORTFOLIO LOANS OUTSTANDING WITH A LTV GREATER THAN 80%
A
s of December 31, 2014 ($ in millions)
For the Year Ended
December 31, 2014
90 Days
By State: Outstanding Exposure Past Due Nonaccrual Net Charge-offs
Ohio $ 1,123 1,838 - 9 9
Michigan 613 882 - 7 8
Illinois 346 507 - 6 6
Indiana 260 404 - 4 3
Kentucky 246 390 - 3 3
Florida 107 143 - 2 2
A
ll other states 275 376 - 5 4
Total $ 2,970 4,540 - 36 35