US Bank 2011 Annual Report Download - page 93

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Additional information on impaired loans for the years ended December 31 follows:
(Dollars in Millions)
Average
Recorded
Investment
Interest
Income
Recognized
2011
Commercial ......................................................................................................... $ 534 $ 12
Commercial real estate .............................................................................................. 1,537 18
Residential mortgages ............................................................................................... 2,557 100
Credit card .......................................................................................................... 485 15
Other retail........................................................................................................... 164 5
Total impaired loans, excluding GNMA and covered loans ....................................................... 5,277 150
Loans purchased from GNMA mortgage pools ...................................................................... 710 25
Covered loans ....................................................................................................... 780 11
Total .............................................................................................................. $6,767 $186
2010
Commercial ......................................................................................................... $ 693 $ 8
Commercial real estate .............................................................................................. 1,601 2
Residential mortgages ............................................................................................... 2,297 72
Credit card .......................................................................................................... 418 11
Other retail........................................................................................................... 150 6
Total .............................................................................................................. $5,159 $ 99
Troubled Debt Restructurings In certain circumstances, the Company may modify the terms of a loan to maximize the
collection of amounts due when a borrower is experiencing financial difficulties or is expected to experience difficulties in the
near-term. The following table provides a summary of loans modified as TDRs for the year ended December 31, 2011, by
portfolio class:
(Dollars in Millions)
Number
of Loans
Pre-Modification
Outstanding
Loan
Balance
Post-Modification
Outstanding
Loan Balance
Commercial .............................................................................. 5,285 $ 456 $ 427
Commercial real estate ................................................................... 506 1,078 1,060
Residential mortgages ................................................................... 3,611 708 704(a)
Credit card ............................................................................... 55,951 322 321
Other retail ............................................................................... 4,028 73 72(b)
Total loans, excluding GNMA and covered loans ...................................... 69,381 2,637 2,584
Loans purchased from GNMA mortgage pools .......................................... 9,569 1,277 1,356(c)(d)
Covered loans ............................................................................ 283 604 575
Total loans ............................................................................. 79,233 $4,518 $4,515
(a) Residential mortgage and home equity and second mortgage TDRs include trial period arrangements offered to customers during the period and the post-modification balances for these loans
reflect the current outstanding balance until a permanent modification is made. At December 31, 2011, 451 loans with outstanding balances of $75 million were in a trial period and have an
estimated post-modification balance of $88 million assuming permanent modification occurs at the end of the trial period.
(b) At December 31, 2011, 53 home equity and second mortgage loans with outstanding balances of $3 million were in a trial period and have an estimated post-modification balance of $5 million
assuming permanent modification occurs at the end of the trial period.
(c) At December 31, 2011, 1,591 loans with outstanding balances of $207 million were in a trial period and have an estimated post-modification balance of $232 million assuming permanent
modification occurs at the end of the trial period.
(d) Post-modification balances typically include capitalization of unpaid accrued interest and/or fees under the various modification programs.
U.S. BANCORP 91