US Bank 2011 Annual Report Download - page 42

December 31, 2011, compared with $2.2 billion ($1.1 billion
excluding covered loans) at December 31, 2010, and $2.3
billion ($1.5 billion excluding covered loans) at December 31,
2009. The $251 million (22.9 percent) decrease, excluding
covered loans, reflected a moderation in the level of stress in
economic conditions during 2011. These loans are not
included in nonperforming assets and continue to accrue
interest because they are adequately secured by collateral, are
in the process of collection and are reasonably expected to
result in repayment or restoration to current status, or are
managed in homogeneous portfolios with specified charge-off
timeframes adhering to regulatory guidelines. The ratio of
accruing loans 90 days or more past due to total loans was
.84 percent (.43 percent excluding covered loans) at
December 31, 2011, compared with 1.11 percent (.61 percent
excluding covered loans) at December 31, 2010, and
1.19 percent (.88 percent excluding covered loans) at
December 31, 2009.
The following table provides summary delinquency
information for residential mortgages, credit card and other
retail loans included in the consumer lending segment:
Amount
As a Percent of Ending
Loan Balances
At December 31
(Dollars in Millions) 2011 2010 2011 2010
Residential Mortgages (a)
30-89 days............. $ 404 $ 456 1.09% 1.48%
90 days or more ....... 364 500 .98 1.63
Nonperforming......... 650 636 1.75 2.07
Total ............... $1,418 $1,592 3.82% 5.18%
Credit Card
30-89 days............. $ 238 $ 269 1.37% 1.60%
90 days or more ....... 236 313 1.36 1.86
Nonperforming......... 224 228 1.29 1.36
Total ............... $ 698 $ 810 4.02% 4.82%
Other Retail
Retail Leasing
30-89 days............. $ 10 $ 17 .19% .37%
90 days or more ....... 1 2 .02 .05
Nonperforming......... — — — —
Total ............... $ 11 $ 19 .21% .42%
Home Equity and
Second Mortgages
30-89 days............. $ 162 $ 175 .90% .93%
90 days or more ....... 133 148 .73 .78
Nonperforming......... 40 36 .22 .19
Total ............... $ 335 $ 359 1.85% 1.90%
Other (b)
30-89 days............. $ 168 $ 212 .68% .85%
90 days or more ....... 50 66 .20 .26
Nonperforming......... 27 29 .11 .12
Total ............... $ 245 $ 307 .99% 1.23%
(a) Excludes $2.6 billion at December 31, 2011, and 2010, of loans purchased from GNMA
mortgage pools that are 90 days or more past due that continue to accrue interest.
(b) Includes revolving credit, installment, automobile and student loans.
The following table provides information on delinquent and
nonperforming consumer lending loans as a percent of ending
loan balances, by channel:
Consumer Finance Other Consumer Lending
At December 31 2011 2010 2011 2010
Residential Mortgages (a)
30-89 days ................. 1.87% 2.38% .67% .95%
90 days or more ........... 1.71 2.26 .59 1.24
Nonperforming............. 2.50 2.99 1.35 1.52
Total.................... 6.08% 7.63% 2.61% 3.71%
Credit Card
30-89 days ................. —% —% 1.37% 1.60%
90 days or more ........... — — 1.36 1.86
Nonperforming............. — — 1.29 1.36
Total.................... —% —% 4.02% 4.82%
Other Retail
Retail Leasing
30-89 days ................. —% —% .19% .37%
90 days or more ........... — — .02 .05
Nonperforming............. — — — —
Total.................... —% —% .21% .42%
Home Equity and Second
Mortgages
30-89 days ................. 2.01% 1.98% .73% .76%
90 days or more ........... 1.42 1.82 .63 .62
Nonperforming............. .21 .20 .22 .19
Total.................... 3.64% 4.00% 1.58% 1.57%
Other (b)
30-89 days ................. 4.92% 4.42% .60% .77%
90 days or more ........... .90 .68 .19 .25
Nonperforming............. — — .11 .12
Total.................... 5.82% 5.10% .90% 1.14%
(a) Excludes loans purchased from GNMA mortgage pools that are 90 days or more past due
that continue to accrue interest.
(b) Includes revolving credit, installment, automobile and student loans.
Within the consumer finance division at December 31,
2011, approximately $363 million and $63 million of these
delinquent residential mortgages and home equity and other
retail loans, respectively, were to customers that may be
defined as sub-prime borrowers, compared with $412 million
and $75 million, respectively, at December 31, 2010.
The following table provides summary delinquency
information for covered loans:
At December 31
(Dollars in Millions)
Amount
As a Percent of Ending
Loan Balances
2011 2010 2011 2010
30-89 days ......... $ 362 $ 757 2.45% 4.19%
90 days or more .... 910 1,090 6.15 6.04
Nonperforming ..... 926 1,244 6.26 6.90
Total ............ $2,198 $3,091 14.86% 17.13%
40 U.S. BANCORP