US Bank 2013 Annual Report Download - page 99
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For all loan classes, a loan is considered to be impaired when, based on current events or information, it is probable the
Company will be unable to collect all amounts due per the contractual terms of the loan agreement. A summary of impaired
loans, which include all nonaccrual and TDR loans, by portfolio class was as follows:
(Dollars in Millions)
Period-end
Recorded
Investment (a)
Unpaid
Principal
Balance
Valuation
Allowance
Commitments
to Lend
Additional
Funds
December 31, 2013
Commercial ...................................................................... $ 382 $ 804 $ 36 $ 54
Commercial real estate .......................................................... 693 1,322 51 40
Residential mortgages ........................................................... 2,767 3,492 308 –
Credit card ...................................................................... 310 310 87 –
Other retail ....................................................................... 391 593 59 14
Total impaired loans, excluding GNMA and covered loans ................... 4,543 6,521 541 108
Loans purchased from GNMA mortgage pools .................................. 2,607 2,607 28 –
Covered loans ................................................................... 452 1,008 30 4
Total........................................................................... $7,602 $10,136 $599 $112
December 31, 2012
Commercial ...................................................................... $ 404 $ 1,200 $ 40 $ 39
Commercial real estate .......................................................... 1,077 2,251 70 4
Residential mortgages ........................................................... 2,748 3,341 415 –
Credit card ...................................................................... 442 442 153 –
Other retail ....................................................................... 443 486 101 3
Total impaired loans, excluding GNMA and covered loans ................... 5,114 7,720 779 46
Loans purchased from GNMA mortgage pools .................................. 1,778 1,778 39 –
Covered loans ................................................................... 767 1,584 20 12
Total........................................................................... $7,659 $11,082 $838 $ 58
(a) Substantially all loans classified as impaired at December 31, 2013 and 2012, had an associated allowance for credit losses. The total amount of interest income recognized during
2013 on loans classified as impaired at December 31, 2013, excluding those acquired with deteriorated credit quality, was $233 million, compared to what would have been recognized
at the original contractual terms of the loans of $399 million.
U.S. BANCORP 97