JP Morgan Chase 2015 Annual Report Download - page 96

Management’s discussion and analysis
86 JPMorgan Chase & Co./2015 Annual Report
Selected metrics
As of or for the year ended
December 31,
(in millions, except
headcount) 2015 2014 2013
Selected balance sheet
data (period-end)
Total assets $ 502,652 $ 455,634 $ 452,929
Trading assets – loans(a) 5,953 8,423 6,832
Loans:
Loans retained 445,316 396,288 393,351
Loans held-for-sale(b) 542 3,416 940
Total loans 445,858 399,704 394,291
Core loans 341,881 273,494 246,751
Deposits 557,645 502,520 464,412
Equity(c) 51,000 51,000 46,000
Selected balance sheet
data (average)
Total assets $ 472,972 $ 447,750 $ 456,468
Trading assets – loans(a) 7,484 8,040 15,603
Loans:
Loans retained 414,518 389,967 392,797
Loans held-for-sale (d) 2,062 917 209
Total loans $ 416,580 $ 390,884 $ 393,006
Core loans 301,700 253,803 234,135
Deposits 530,938 486,919 453,304
Equity(c) 51,000 51,000 46,000
Headcount 127,094 137,186 151,333
(a) Predominantly consists of prime mortgages originated with the intent to
sell that are accounted for at fair value.
(b) Included period-end credit card loans held-for-sale of $76 million, $3.0
billion and $326 million at December 31, 2015, 2014 and 2013,
respectively. These amounts were excluded when calculating delinquency
rates and the allowance for loan losses to period-end loans.
(c) Equity is allocated to the sub-business segments with $5.0 billion and $3.0
billion of capital in 2015 and 2014, respectively, held at the CCB level
related to legacy mortgage servicing matters.
(d) Included average credit card loans held-for-sale of $1.6 billion, $509
million and $95 million for the years ended December 31, 2015, 2014 and
2013, respectively. These amounts are excluded when calculating the net
charge-off rate.
Selected metrics
As of or for the year ended
December 31,
(in millions, except ratios and
where otherwise noted) 2015 2014 2013
Credit data and quality statistics
Net charge-offs(a) $ 4,084 $ 4,773 $ 5,826
Nonaccrual loans(b)(c) 5,313 6,401 7,455
Nonperforming assets(b)(c) 5,635 6,872 8,109
Allowance for loan losses(a) 9,165 10,404 12,201
Net charge-off rate(a) 0.99% 1.22% 1.48%
Net charge-off rate, excluding PCI
loans 1.10 1.40 1.73
Allowance for loan losses to
period-end loans retained 2.06 2.63 3.10
Allowance for loan losses to
period-end loans retained,
excluding PCI loans(d) 1.59 2.02 2.36
Allowance for loan losses to
nonaccrual loans retained,
excluding credit card(b)(d) 57 58 57
Nonaccrual loans to total period-
end loans, excluding
credit card 1.69 2.38 2.80
Nonaccrual loans to total period-
end loans, excluding credit card
and PCI loans(b) 1.94 2.88 3.49
Business metrics
Number of:
Branches 5,413 5,602 5,630
ATMs 17,777 18,056 20,290
Active online customers (in
thousands)(e) 39,242 36,396 33,742
Active mobile customers (in
thousands) 22,810 19,084 15,629
CCB households (in millions) 57.8 57.2 56.7
(a) Net charge-offs and the net charge-off rates excluded $208 million, $533
million, and $53 million of write-offs in the PCI portfolio for the years
ended December 31, 2015, 2014 and 2013, respectively. These write-offs
decreased the allowance for loan losses for PCI loans. For further
information on PCI write-offs, see Allowance for Credit Losses on
pages 130–132.
(b) Excludes PCI loans. The Firm is recognizing interest income on each pool of
PCI loans as all of the pools are performing.
(c) At December 31, 2015, 2014 and 2013, nonperforming assets excluded:
(1) mortgage loans insured by U.S. government agencies of $6.3 billion,
$7.8 billion and $8.4 billion, respectively, that are 90 or more days past
due; (2) student loans insured by U.S. government agencies under the
Federal Family Education Loan Program (“FFELP”) of $290 million, $367
million and $428 million respectively, that are 90 or more days past due;
(3) real estate owned (“REO”) insured by U.S. government agencies of
$343 million, $462 million and $2.0 billion, respectively. These amounts
have been excluded based upon the government guarantee.
(d) The allowance for loan losses for PCI loans of $2.7 billion, $3.3 billion and
$4.2 billion at December 31, 2015, 2014, and 2013, respectively; these
amounts were also excluded from the applicable ratios.
(e) Users of all internet browsers and mobile platforms (mobile smartphone,
tablet and SMS) who have logged in within the past 90 days.