US Bank 2009 Annual Report Download - page 42

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2008. The Company expects delinquencies to continue to
increase during early 2010, as difficult economic conditions
will likely affect more borrowers within both the consumer
and commercial loan portfolios.
The following table provides summary delinquency
information for residential mortgages and retail loans,
excluding covered assets:
December 31,
(Dollars in Millions) 2009 2008 2009 2008
Amount
As a Percent of
Ending
Loan Balances
Residential mortgages
30-89 days . . . . . . . . . . $ 615 $ 536 2.36% 2.28%
90 days or more . . . . . . 729 366 2.80 1.55
Nonperforming . . . . . . . 467 210 1.79 .89
Tot al ............ $1,811 $1,112 6.95% 4.72%
Retail
Credit card
30-89 days . . . . . . . . . . $ 400 $ 369 2.38% 2.73%
90 days or more . . . . . . 435 297 2.59 2.20
Nonperforming . . . . . . . 142 67 .84 .49
Tot al ............ $ 977 $ 733 5.81% 5.42%
Retail leasing
30-89 days . . . . . . . . . . $ 34 $ 49 .74% .96%
90 days or more . . . . . . 5 8 .11 .16
Nonperforming . . . . . . . – – – –
Tot al ............ $ 39 $ 57 .85% 1.11%
Home equity and second
mortgages
30-89 days . . . . . . . . . . $ 181 $ 170 .93% .89%
90 days or more . . . . . . 152 106 .78 .55
Nonperforming . . . . . . . 32 14 .17 .07
Tot al ............ $ 365 $ 290 1.88% 1.51%
Other retail
30-89 days . . . . . . . . . . $ 256 $ 255 1.10% 1.13%
90 days or more . . . . . . 92 81 .40 .36
Nonperforming . . . . . . . 30 11 .13 .05
Tot al ............ $ 378 $ 347 1.63% 1.54%
The following table provides information on delinquent and
nonperforming loans as a percent of ending loan balances by
channel:
December 31, 2009 2008 2009 2008
Consumer
Finance (a) Other Retail
Residential mortgages
30-89 days . . . . . . . . . . . . 3.99% 3.96% 1.30% 1.06%
90 days or more. . . . . . . . . 4.00 2.61 2.02 .79
Nonperforming . . . . . . . . . . 3.04 1.60 .98 .38
Tot al .............. 11.03% 8.17% 4.30% 2.23%
Retail
Credit card
30-89 days . . . . . . . . . . . . –% –% 2.38% 2.73%
90 days or more. . . . . . . . . – – 2.59 2.20
Nonperforming . . . . . . . . . . – – .84 .49
Tot al .............. –% –% 5.81% 5.42%
Retail leasing
30-89 days . . . . . . . . . . . . –% –% .74% .95%
90 days or more. . . . . . . . . – – .11 .16
Nonperforming . . . . . . . . . . – – – –
Tot al .............. –% –% .85% 1.11%
Home equity and second
mortgages
30-89 days . . . . . . . . . . . . 2.54% 3.24% .70% .59%
90 days or more. . . . . . . . . 2.02 2.36 .60 .32
Nonperforming . . . . . . . . . . .20 .14 .16 .07
Tot al .............. 4.76% 5.74% 1.46% .98%
Other retail
30-89 days . . . . . . . . . . . . 5.17% 6.91% 1.00% 1.00%
90 days or more. . . . . . . . . 1.17 1.98 .37 .32
Nonperforming . . . . . . . . . . .16 – .13 .05
Tot al .............. 6.50% 8.89% 1.50% 1.37%
(a) Consumer finance category included credit originated and managed by the consumer
finance division, as well as the majority of home equity and second mortgages with a
loan-to-value greater than 100 percent that were originated in the branches.
Within the consumer finance division at December 31,
2009, approximately $557 million and $98 million of these
delinquent and nonperforming residential mortgages and
other retail loans, respectively, were to customers that may
be defined as sub-prime borrowers, compared with
$467 million and $121 million, respectively at December 31,
2008.
40 U.S. BANCORP