US Bank 2012 Annual Report Download - page 53

TABLE 18 Summary of Allowance for Credit Losses
(Dollars in Millions) 2012 2011 2010 2009 2008
Balance at beginning of year ................................................................... $5,014 $5,531 $5,264 $3,639 $2,260
Charge-Offs
Commercial
Commercial .............................................................................. 312 423 784 769 282
Lease financing .......................................................................... 66 93 134 227 113
Total commercial ..................................................................... 378 516 918 996 395
Commercial real estate
Commercial mortgages .................................................................. 145 231 333 103 34
Construction and development .......................................................... 97 312 538 516 139
Total commercial real estate .......................................................... 242 543 871 619 173
Residential mortgages ...................................................................... 461 502 554 493 236
Credit card .................................................................................. 769 922 1,270 1,093 630
Other retail
Retail leasing............................................................................. 9 10 25 47 41
Home equity and second mortgages .................................................... 327 327 348 347 185
Other ..................................................................................... 330 396 490 504 344
Total other retail....................................................................... 666 733 863 898 570
Covered loans (a) ........................................................................... 11 13 20 12 5
Total charge-offs ................................................................... 2,527 3,229 4,496 4,111 2,009
Recoveries
Commercial
Commercial .............................................................................. 72 74 48 30 27
Lease financing .......................................................................... 31 36 43 40 26
Total commercial ..................................................................... 103 110 91 70 53
Commercial real estate
Commercial mortgages .................................................................. 31 22 13 2 1
Construction and development .......................................................... 45 23 13 3 –
Total commercial real estate .......................................................... 76 45 26 5 1
Residential mortgages ...................................................................... 23 13 8 4 2
Credit card .................................................................................. 102 88 70 62 65
Other retail
Retail leasing............................................................................. 7 10 13 11 6
Home equity and second mortgages .................................................... 26 19 17 9 7
Other ..................................................................................... 92 100 88 81 56
Total other retail....................................................................... 125 129 118 101 69
Covered loans (a) ........................................................................... 1121–
Total recoveries .................................................................... 430 386 315 243 190
Net Charge-Offs
Commercial
Commercial .............................................................................. 240 349 736 739 255
Lease financing .......................................................................... 35 57 91 187 87
Total commercial ..................................................................... 275 406 827 926 342
Commercial real estate
Commercial mortgages .................................................................. 114 209 320 101 33
Construction and development .......................................................... 52 289 525 513 139
Total commercial real estate .......................................................... 166 498 845 614 172
Residential mortgages ...................................................................... 438 489 546 489 234
Credit card .................................................................................. 667 834 1,200 1,031 565
Other retail
Retail leasing............................................................................. 2 – 12 36 35
Home equity and second mortgages .................................................... 301 308 331 338 178
Other ..................................................................................... 238 296 402 423 288
Total other retail....................................................................... 541 604 745 797 501
Covered loans (a) ........................................................................... 10 12 18 11 5
Total net charge-offs ............................................................... 2,097 2,843 4,181 3,868 1,819
Provision for credit losses...................................................................... 1,882 2,343 4,356 5,557 3,096
Net change for credit losses to be reimbursed by the FDIC .................................... (33) (17) 92 – –
Other changes ................................................................................. (33) – – (64) 102
Balance at end of year ......................................................................... $4,733 $5,014 $5,531 $5,264 $3,639
Components
Allowance for loan losses, excluding losses to be reimbursed by the FDIC ................. $4,382 $4,678 $5,218 $5,079 $3,514
Allowance for credit losses to be reimbursed by the FDIC .................................. 42 75 92 – –
Liability for unfunded credit commitments .................................................. 309 261 221 185 125
Total allowance for credit losses ......................................................... $4,733 $5,014 $5,531 $5,264 $3,639
Allowance for Credit Losses as a Percentage of
Period-end loans, excluding covered loans ................................................. 2.15% 2.52% 3.03% 3.04% 2.09%
Nonperforming loans, excluding covered loans ............................................. 269 228 192 153 206
Nonperforming and accruing loans 90 days or more past due, excluding covered loans . . . 194 164 138 106 133
Nonperforming assets, excluding covered assets ........................................... 218 191 162 135 184
Net charge-offs, excluding covered loans ................................................... 218 174 130 136 201
Period-end loans ............................................................................ 2.12% 2.39% 2.81% 2.70% 1.97%
Nonperforming loans........................................................................ 228 163 136 110 170
Nonperforming and accruing loans 90 days or more past due .............................. 139 104 89 74 99
Nonperforming assets ...................................................................... 177 133 110 89 139
Net charge-offs ............................................................................. 226 176 132 136 200
Note: At December 31, 2012 and 2011, $1.7 billion and $1.8 billion, respectively, of the total allowance for credit losses related to incurred losses on credit card and other retail loans.
(a) Relates to covered loan charge-offs and recoveries not reimbursable by the FDIC.
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