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Loans and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2025
Receivables [Abstract] |
Composition of Loan Portfolio | The composition of the loan portfolio, by class and underlying specific portfolio type, was as follows:
| September 30, 2025 | December 31, 2024
(Dollars in Millions) | Amount | Percent of Total | Amount | Percent of Total
Commercial |  |  |  |
Commercial | $ | 144,106 |  | 37.7 | % | $ | 135,254 |  | 35.6 | %
Lease financing | 4,308 |  | 1.1 |  | 4,230 |  | 1.1 |
Total commercial | 148,414 |  | 38.8 |  | 139,484 |  | 36.7 |
Commercial Real Estate |  |  |  |
Commercial mortgages | 38,316 |  | 10.0 |  | 38,619 |  | 10.2 |
Construction and development | 9,928 |  | 2.6 |  | 10,240 |  | 2.7 |
Total commercial real estate | 48,244 |  | 12.6 |  | 48,859 |  | 12.9 |
Residential Mortgages |  |  |  |
Residential mortgages | 109,730 |  | 28.7 |  | 112,806 |  | 29.7 |
Home equity loans, first liens | 5,316 |  | 1.4 |  | 6,007 |  | 1.6 |
Total residential mortgages | 115,046 |  | 30.1 |  | 118,813 |  | 31.3 |
Credit Card | 30,594 |  | 8.0 |  | 30,350 |  | 8.0 |
Other Retail |  |  |  |
Retail leasing | 3,627 |  | 1.0 |  | 4,040 |  | 1.0 |
Home equity and second mortgages | 13,858 |  | 3.6 |  | 13,565 |  | 3.6 |
Revolving credit | 4,274 |  | 1.1 |  | 3,747 |  | 1.0 |
Installment | 14,592 |  | 3.8 |  | 14,373 |  | 3.8 |
Automobile | 3,868 |  | 1.0 |  | 6,601 |  | 1.7 |
Total other retail | 40,219 |  | 10.5 |  | 42,326 |  | 11.1 |
Total loans | $ | 382,517 |  | 100.0 | % | $ | 379,832 |  | 100.0 | %
Activity in Allowance for Credit Losses by Portfolio Class | Activity in the allowance for credit losses by portfolio class was as follows:
Three Months Ended September 30 (Dollars in Millions) | Commercial | Commercial Real Estate | Residential Mortgages | Credit Card | Other Retail | Total Loans
2025 |  |  |  |  |  |
Balance at beginning of period | $ | 2,239 |  | $ | 1,384 |  | $ | 757 |  | $ | 2,665 |  | $ | 817 |  | $ | 7,862 |
Add |  |  |  |  |  |
Provision for credit losses | 111 |  | 46 |  | 28 |  | 311 |  | 75 |  | 571 |
Deduct |  |  |  |  |  |
Loans charged-off | 129 |  | 110 |  | 3 |  | 344 |  | 83 |  | 669 |
Less recoveries of loans charged-off | (37) |  | (7) |  | (4) |  | (60) |  | (25) |  | (133) |
Net loan charge-offs (recoveries) | 92 |  | 103 |  | (1) |  | 284 |  | 58 |  | 536 |
Balance at end of period | $ | 2,258 |  | $ | 1,327 |  | $ | 786 |  | $ | 2,692 |  | $ | 834 |  | $ | 7,897 |
2024 |  |  |  |  |  |
Balance at beginning of period | $ | 2,180 |  | $ | 1,596 |  | $ | 836 |  | $ | 2,498 |  | $ | 824 |  | $ | 7,934 |
Add |  |  |  |  |  |
Provision for credit losses | 155 |  | 49 |  | (36) |  | 349 |  | 40 |  | 557 |
Deduct |  |  |  |  |  |
Loans charged-off | 165 |  | 80 |  | 3 |  | 347 |  | 74 |  | 669 |
Less recoveries of loans charged-off | (18) |  | (10) |  | (6) |  | (48) |  | (23) |  | (105) |
Net loan charge-offs (recoveries) | 147 |  | 70 |  | (3) |  | 299 |  | 51 |  | 564 |
Balance at end of period | $ | 2,188 |  | $ | 1,575 |  | $ | 803 |  | $ | 2,548 |  | $ | 813 |  | $ | 7,927 |
Nine Months Ended September 30 (Dollars in Millions) | Commercial | Commercial Real Estate | Residential Mortgages | Credit Card | Other Retail | Total Loans
2025 |  |  |  |  |  |
Balance at beginning of period | $ | 2,175 |  | $ | 1,508 |  | $ | 783 |  | $ | 2,640 |  | $ | 819 |  | $ | 7,925 |
Add |  |  |  |  |  |
Provision for credit losses | 466 |  | (25) |  | 1 |  | 978 |  | 189 |  | 1,609 |
Deduct |  |  |  |  |  |
Loans charged-off | 471 |  | 209 |  | 11 |  | 1,103 |  | 248 |  | 2,042 |
Less recoveries of loans charged-off | (88) |  | (53) |  | (13) |  | (177) |  | (74) |  | (405) |
Net loan charge-offs (recoveries) | 383 |  | 156 |  | (2) |  | 926 |  | 174 |  | 1,637 |
Balance at end of period | $ | 2,258 |  | $ | 1,327 |  | $ | 786 |  | $ | 2,692 |  | $ | 834 |  | $ | 7,897 |
2024 |  |  |  |  |  |
Balance at beginning of period | $ | 2,119 |  | $ | 1,620 |  | $ | 827 |  | $ | 2,403 |  | $ | 870 |  | $ | 7,839 |
Add |  |  |  |  |  |
Provision for credit losses | 475 |  | 82 |  | (31) |  | 1,055 |  | 97 |  | 1,678 |
Deduct |  |  |  |  |  |
Loans charged-off | 484 |  | 152 |  | 10 |  | 1,042 |  | 228 |  | 1,916 |
Less recoveries of loans charged-off | (78) |  | (25) |  | (17) |  | (132) |  | (74) |  | (326) |
Net loan charge-offs (recoveries) | 406 |  | 127 |  | (7) |  | 910 |  | 154 |  | 1,590 |
Balance at end of period | $ | 2,188 |  | $ | 1,575 |  | $ | 803 |  | $ | 2,548 |  | $ | 813 |  | $ | 7,927 |
Credit Quality Indicators | The following table provides a summary of loans charged-off by portfolio class and year of origination:
Three Months Ended September 30 (Dollars in Millions) | Commercial | Commercial Real Estate | Residential Mortgages | Credit Card(a) | Other Retail | Total Loans
2025 |  |  |  |  |  |
Originated in 2025 | $ | 4 |  | $ | — |  | $ | — |  | $ | — |  | $ | 3 |  | $ | 7 |
Originated in 2024 | 16 |  | 12 |  | — |  | — |  | 11 |  | 39 |
Originated in 2023 | 12 |  | 34 |  | — |  | — |  | 19 |  | 65 |
Originated in 2022 | 13 |  | 60 |  | 1 |  | — |  | 11 |  | 85 |
Originated in 2021 | 5 |  | — |  | — |  | — |  | 8 |  | 13 |
Originated prior to 2021 | 8 |  | 4 |  | 2 |  | — |  | 8 |  | 22 |
Revolving | 71 |  | — |  | — |  | 344 |  | 23 |  | 438 |
Total charge-offs | $ | 129 |  | $ | 110 |  | $ | 3 |  | $ | 344 |  | $ | 83 |  | $ | 669 |
2024 |  |  |  |  |  |
Originated in 2024 | $ | 10 |  | $ | 39 |  | $ | — |  | $ | — |  | $ | 4 |  | $ | 53 |
Originated in 2023 | 16 |  | 15 |  | — |  | — |  | 13 |  | 44 |
Originated in 2022 | 48 |  | 23 |  | 1 |  | — |  | 11 |  | 83 |
Originated in 2021 | 8 |  | — |  | — |  | — |  | 9 |  | 17 |
Originated in 2020 | 3 |  | 1 |  | — |  | — |  | 4 |  | 8 |
Originated prior to 2020 | 10 |  | 2 |  | 2 |  | — |  | 6 |  | 20 |
Revolving | 70 |  | — |  | — |  | 347 |  | 27 |  | 444 |
Total charge-offs | $ | 165 |  | $ | 80 |  | $ | 3 |  | $ | 347 |  | $ | 74 |  | $ | 669 |
Nine Months Ended September 30 (Dollars in Millions) | Commercial | Commercial Real Estate | Residential Mortgages | Credit Card(a) | Other Retail | Total Loans
2025 |  |  |  |  |  |
Originated in 2025 | $ | 24 |  | $ | — |  | $ | — |  | $ | — |  | $ | 3 |  | $ | 27 |
Originated in 2024 | 74 |  | 43 |  | — |  | — |  | 34 |  | 151 |
Originated in 2023 | 50 |  | 55 |  | — |  | — |  | 48 |  | 153 |
Originated in 2022 | 52 |  | 99 |  | 2 |  | — |  | 35 |  | 188 |
Originated in 2021 | 14 |  | 1 |  | 1 |  | — |  | 33 |  | 49 |
Originated prior to 2021 | 33 |  | 5 |  | 8 |  | — |  | 25 |  | 71 |
Revolving | 224 |  | 6 |  | — |  | 1,103 |  | 70 |  | 1,403 |
Total charge-offs | $ | 471 |  | $ | 209 |  | $ | 11 |  | $ | 1,103 |  | $ | 248 |  | $ | 2,042 |
2024 |  |  |  |  |  |
Originated in 2024 | $ | 13 |  | $ | 80 |  | $ | — |  | $ | — |  | $ | 6 |  | $ | 99 |
Originated in 2023 | 68 |  | 21 |  | — |  | — |  | 34 |  | 123 |
Originated in 2022 | 132 |  | 47 |  | 2 |  | — |  | 39 |  | 220 |
Originated in 2021 | 23 |  | — |  | — |  | — |  | 30 |  | 53 |
Originated in 2020 | 9 |  | 1 |  | — |  | — |  | 17 |  | 27 |
Originated prior to 2020 | 31 |  | 3 |  | 8 |  | — |  | 25 |  | 67 |
Revolving | 208 |  | — |  | — |  | 1,042 |  | 77 |  | 1,327 |
Total charge-offs | $ | 484 |  | $ | 152 |  | $ | 10 |  | $ | 1,042 |  | $ | 228 |  | $ | 1,916 |
Note: Year of origination is based on the origination date of a loan, or for existing loans the date when the maturity date, pricing or commitment amount is amended. Predominantly all current year and near term loan origination years for gross charge-offs relate to existing loans that have had recent maturity date, pricing or commitment amount amendments. (a)Predominantly all credit card loans are considered revolving loans. Includes an immaterial amount of charge-offs related to revolving converted to term loans. The following table provides a summary of loans by portfolio class and the Company’s internal credit quality rating:
| September 30, 2025 | December 31, 2024
|  | Criticized |  |  | Criticized |
(Dollars in Millions) | Pass | Special Mention | Classified(a) | Total Criticized | Total | Pass | Special Mention | Classified(a) | Total Criticized | Total
Commercial |  |  |  |  |  |  |  |  |  |
Originated in 2025 | $ | 52,825 |  | $ | 208 |  | $ | 465 |  | $ | 673 |  | $ | 53,498 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Originated in 2024 | 32,628 |  | 384 |  | 758 |  | 1,142 |  | 33,770 |  | 57,578 |  | 503 |  | 1,034 |  | 1,537 |  | 59,115 |
Originated in 2023 | 9,151 |  | 65 |  | 383 |  | 448 |  | 9,599 |  | 19,128 |  | 173 |  | 564 |  | 737 |  | 19,865 |
Originated in 2022 | 12,045 |  | 24 |  | 402 |  | 426 |  | 12,471 |  | 19,718 |  | 231 |  | 370 |  | 601 |  | 20,319 |
Originated in 2021 | 3,028 |  | 4 |  | 32 |  | 36 |  | 3,064 |  | 4,677 |  | 60 |  | 92 |  | 152 |  | 4,829 |
Originated prior to 2021 | 4,642 |  | 61 |  | 84 |  | 145 |  | 4,787 |  | 6,812 |  | 76 |  | 143 |  | 219 |  | 7,031 |
Revolving(b) | 30,209 |  | 576 |  | 440 |  | 1,016 |  | 31,225 |  | 27,344 |  | 169 |  | 812 |  | 981 |  | 28,325 |
Total commercial | 144,528 |  | 1,322 |  | 2,564 |  | 3,886 |  | 148,414 |  | 135,257 |  | 1,212 |  | 3,015 |  | 4,227 |  | 139,484 |
Commercial real estate |  |  |  |  |  |  |  |  |  |
Originated in 2025 | 10,556 |  | 142 |  | 777 |  | 919 |  | 11,475 |  | — |  | — |  | — |  | — |  | — |
Originated in 2024 | 7,222 |  | 58 |  | 574 |  | 632 |  | 7,854 |  | 9,652 |  | 261 |  | 1,772 |  | 2,033 |  | 11,685 |
Originated in 2023 | 4,052 |  | 55 |  | 612 |  | 667 |  | 4,719 |  | 5,213 |  | 42 |  | 760 |  | 802 |  | 6,015 |
Originated in 2022 | 6,568 |  | 272 |  | 675 |  | 947 |  | 7,515 |  | 9,047 |  | 661 |  | 913 |  | 1,574 |  | 10,621 |
Originated in 2021 | 4,938 |  | 87 |  | 144 |  | 231 |  | 5,169 |  | 6,515 |  | 100 |  | 196 |  | 296 |  | 6,811 |
Originated prior to 2021 | 8,908 |  | 149 |  | 473 |  | 622 |  | 9,530 |  | 10,822 |  | 148 |  | 608 |  | 756 |  | 11,578 |
Revolving | 1,920 |  | 47 |  | 11 |  | 58 |  | 1,978 |  | 2,078 |  | — |  | 68 |  | 68 |  | 2,146 |
Revolving converted to term | 4 |  | — |  | — |  | — |  | 4 |  | 3 |  | — |  | — |  | — |  | 3 |
Total commercial real estate | 44,168 |  | 810 |  | 3,266 |  | 4,076 |  | 48,244 |  | 43,330 |  | 1,212 |  | 4,317 |  | 5,529 |  | 48,859 |
Residential mortgages(c) |  |  |  |  |  |  |  |  |  |
Originated in 2025 | 8,076 |  | — |  | 1 |  | 1 |  | 8,077 |  | — |  | — |  | — |  | — |  | — |
Originated in 2024 | 8,660 |  | — |  | 12 |  | 12 |  | 8,672 |  | 10,291 |  | — |  | — |  | — |  | 10,291 |
Originated in 2023 | 8,137 |  | — |  | 31 |  | 31 |  | 8,168 |  | 8,764 |  | — |  | 11 |  | 11 |  | 8,775 |
Originated in 2022 | 24,860 |  | — |  | 60 |  | 60 |  | 24,920 |  | 28,484 |  | — |  | 43 |  | 43 |  | 28,527 |
Originated in 2021 | 31,300 |  | — |  | 61 |  | 61 |  | 31,361 |  | 34,694 |  | — |  | 35 |  | 35 |  | 34,729 |
Originated prior to 2021 | 33,556 |  | — |  | 291 |  | 291 |  | 33,847 |  | 36,211 |  | — |  | 280 |  | 280 |  | 36,491 |
Revolving | 1 |  | — |  | — |  | — |  | 1 |  | — |  | — |  | — |  | — |  | — |
Total residential mortgages | 114,590 |  | — |  | 456 |  | 456 |  | 115,046 |  | 118,444 |  | — |  | 369 |  | 369 |  | 118,813 |
Credit card(d) | 30,210 |  | — |  | 384 |  | 384 |  | 30,594 |  | 29,915 |  | — |  | 435 |  | 435 |  | 30,350 |
Other retail |  |  |  |  |  |  |  |  |  |
Originated in 2025 | 4,894 |  | — |  | 2 |  | 2 |  | 4,896 |  | — |  | — |  | — |  | — |  | — |
Originated in 2024 | 5,412 |  | — |  | 9 |  | 9 |  | 5,421 |  | 7,398 |  | — |  | 3 |  | 3 |  | 7,401 |
Originated in 2023 | 2,971 |  | — |  | 10 |  | 10 |  | 2,981 |  | 3,966 |  | — |  | 9 |  | 9 |  | 3,975 |
Originated in 2022 | 2,893 |  | — |  | 11 |  | 11 |  | 2,904 |  | 4,085 |  | — |  | 11 |  | 11 |  | 4,096 |
Originated in 2021 | 4,431 |  | — |  | 10 |  | 10 |  | 4,441 |  | 6,537 |  | — |  | 14 |  | 14 |  | 6,551 |
Originated prior to 2021 | 4,238 |  | — |  | 17 |  | 17 |  | 4,255 |  | 5,543 |  | — |  | 21 |  | 21 |  | 5,564 |
Revolving | 14,369 |  | — |  | 119 |  | 119 |  | 14,488 |  | 13,846 |  | — |  | 120 |  | 120 |  | 13,966 |
Revolving converted to term | 792 |  | — |  | 41 |  | 41 |  | 833 |  | 731 |  | — |  | 42 |  | 42 |  | 773 |
Total other retail | 40,000 |  | — |  | 219 |  | 219 |  | 40,219 |  | 42,106 |  | — |  | 220 |  | 220 |  | 42,326 |
Total loans | $ | 373,496 |  | $ | 2,132 |  | $ | 6,889 |  | $ | 9,021 |  | $ | 382,517 |  | $ | 369,052 |  | $ | 2,424 |  | $ | 8,356 |  | $ | 10,780 |  | $ | 379,832 |
Total outstanding commitments | $ | 807,499 |  | $ | 3,212 |  | $ | 8,773 |  | $ | 11,985 |  | $ | 819,484 |  | $ | 778,155 |  | $ | 3,875 |  | $ | 10,441 |  | $ | 14,316 |  | $ | 792,471 |
Note: Year of origination is based on the origination date of a loan, or for existing loans the date when the maturity date, pricing or commitment amount is amended. Predominately all current year and nearer term loan origination years for criticized loans relate to existing loans that have had recent maturity date, pricing or commitment amount amendments. (a)Classified rating on consumer loans primarily based on delinquency status. (b)Includes an immaterial amount of revolving converted to term loans. (c)At September 30, 2025, $2.4 billion of GNMA loans 90 days or more past due and $1.5 billion of modified GNMA loans whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs were classified with a pass rating, compared with $2.3 billion and $1.4 billion at December 31, 2024, respectively. (d)Predominately all credit card loans are considered revolving loans. Includes an immaterial amount of revolving converted to term loans.
Loans by Portfolio Class, Including Delinquency Status | The following table provides a summary of loans by portfolio class, including the delinquency status of those that continue to accrue interest, and those that are nonperforming:
| Accruing |  |
(Dollars in Millions) | Current | 30-89 Days Past Due | 90 Days or More Past Due | Nonperforming(b) | Total
September 30, 2025 |  |  |  |  |
Commercial | $ | 147,310 |  | $ | 283 |  | $ | 88 |  | $ | 733 |  | $ | 148,414 |
Commercial real estate | 47,571 |  | 75 |  | 19 |  | 579 |  | 48,244 |
Residential mortgages(a) | 114,443 |  | 162 |  | 298 |  | 143 |  | 115,046 |
Credit card | 29,801 |  | 409 |  | 384 |  | — |  | 30,594 |
Other retail | 39,837 |  | 176 |  | 51 |  | 155 |  | 40,219 |
Total loans | $ | 378,962 |  | $ | 1,105 |  | $ | 840 |  | $ | 1,610 |  | $ | 382,517 |
December 31, 2024 |  |  |  |  |
Commercial | $ | 138,362 |  | $ | 356 |  | $ | 96 |  | $ | 670 |  | $ | 139,484 |
Commercial real estate | 47,948 |  | 78 |  | 9 |  | 824 |  | 48,859 |
Residential mortgages(a) | 118,267 |  | 188 |  | 206 |  | 152 |  | 118,813 |
Credit card | 29,487 |  | 428 |  | 435 |  | — |  | 30,350 |
Other retail | 41,886 |  | 229 |  | 64 |  | 147 |  | 42,326 |
Total loans | $ | 375,950 |  | $ | 1,279 |  | $ | 810 |  | $ | 1,793 |  | $ | 379,832 |
(a)At September 30, 2025, $626 million of loans 30–89 days past due and $2.4 billion of loans 90 days or more past due purchased and that could be purchased from GNMA mortgage pools under delinquent loan repurchase options whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $660 million and $2.3 billion at December 31, 2024, respectively. (b)Substantially all nonperforming loans at September 30, 2025 and December 31, 2024, had an associated allowance for credit losses. The Company recognized interest income on nonperforming loans of $4 million and $5 million for the three months ended September 30, 2025 and 2024, respectively, and $14 million and $16 million for the nine months ended September 30, 2025 and 2024, respectively
Loans Modified | The following table provides a summary of period-end balances of loans modified during the periods presented, by portfolio class and modification granted:
Three Months Ended September 30 (Dollars in Millions) | Interest Rate Reduction | Payment Delay | Term Extension | Multiple Modifications(a) | Total Modifications | Percent of Class Total
2025 |  |  |  |  |  |
Commercial | $ | 41 |  | $ | — |  | $ | 110 |  | $ | 23 |  | $ | 174 |  | .1 | %
Commercial real estate | — |  | — |  | 175 |  | 4 |  | 179 |  | .4 |
Residential mortgages(b) | — |  | 32 |  | 8 |  | 6 |  | 46 |  | — |
Credit card | 147 |  | — |  | — |  | — |  | 147 |  | .5 |
Other retail | 2 |  | 3 |  | 26 |  | 1 |  | 32 |  | .1 |
Total loans, excluding loans purchased from GNMA mortgage pools | 190 |  | 35 |  | 319 |  | 34 |  | 578 |  | .2 |
Loans purchased from GNMA mortgage pools(b) | — |  | 356 | 163 | 147 | 666 | .6 |
Total loans | $ | 190 |  | $ | 391 |  | $ | 482 |  | $ | 181 |  | $ | 1,244 |  | .3 | %
2024 |  |  |  |  |  |
Commercial | $ | 26 |  | $ | — |  | $ | 292 |  | $ | — |  | $ | 318 |  | .2 | %
Commercial real estate | — |  | — |  | 401 |  | 27 |  | 428 |  | .8 |
Residential mortgages(b) | — |  | 21 |  | 3 |  | 7 |  | 31 |  | — |
Credit card | 133 |  | 2 |  | — |  | — |  | 135 |  | .5 |
Other retail | 2 |  | — |  | 36 |  | 2 |  | 40 |  | .1 |
Total loans, excluding loans purchased from GNMA mortgage pools | 161 |  | 23 |  | 732 |  | 36 |  | 952 |  | .3 |
Loans purchased from GNMA mortgage pools(b) | — |  | 391 |  | 96 |  | 101 |  | 588 |  | .5 |
Total loans | $ | 161 |  | $ | 414 |  | $ | 828 |  | $ | 137 |  | $ | 1,540 |  | .4 | %
Nine Months Ended September 30 (Dollars in Millions) | Interest Rate Reduction | Payment Delay | Term Extension | Multiple Modifications(a) | Total Modifications | Percent of Class Total
2025 |  |  |  |  |  |
Commercial | $ | 79 |  | $ | 1 |  | $ | 309 |  | $ | 66 |  | $ | 455 |  | .3 | %
Commercial real estate | — |  | — |  | 438 |  | 6 |  | 444 |  | .9 |
Residential mortgages(b) | — |  | 295 |  | 12 |  | 23 |  | 330 |  | .3 |
Credit card | 352 |  | 3 |  | — |  | — |  | 355 |  | 1.2 |
Other retail | 5 |  | 7 |  | 70 |  | 6 |  | 88 |  | .2 |
Total loans, excluding loans purchased from GNMA mortgage pools | 436 |  | 306 |  | 829 |  | 101 |  | 1,672 |  | .4 |
Loans purchased from GNMA mortgage pools(b) | — |  | 915 |  | 368 |  | 394 |  | 1,677 |  | 1.5 |
Total loans | $ | 436 |  | $ | 1,221 |  | $ | 1,197 |  | $ | 495 |  | $ | 3,349 |  | .9 | %
2024 |  |  |  |  |  |
Commercial | $ | 63 |  | $ | — |  | $ | 603 |  | $ | — |  | $ | 666 |  | .5 | %
Commercial real estate | 49 |  | — |  | 761 |  | 27 |  | 837 |  | 1.7 |
Residential mortgages(b) | — |  | 46 |  | 15 |  | 16 |  | 77 |  | .1 |
Credit card | 330 |  | 2 |  | — |  | — |  | 332 |  | 1.1 |
Other retail | 6 |  | 2 |  | 98 |  | 3 |  | 109 |  | .3 |
Total loans, excluding loans purchased from GNMA mortgage pools | 448 |  | 50 |  | 1,477 |  | 46 |  | 2,021 |  | .5 |
Loans purchased from GNMA mortgage pools(b) | 1 |  | 1,101 |  | 257 |  | 281 |  | 1,640 |  | 1.4 |
Total loans | $ | 449 |  | $ | 1,151 |  | $ | 1,734 |  | $ | 327 |  | $ | 3,661 |  | 1.0 | %
(a)Includes $83 million of total loans receiving a payment delay and term extension, $77 million of total loans receiving an interest rate reduction and term extension and $21 million of total loans receiving an interest rate reduction, payment delay and term extension for the three months ended September 30, 2025, compared with $85 million, $44 million and $8 million for the three months ended September 30, 2024, respectively. Includes $230 million of total loans receiving a payment delay and term extension, $208 million of total loans receiving an interest rate reduction and term extension and $57 million of total loans receiving an interest rate reduction, payment delay and term extension for the nine months ended September 30, 2025, compared with $251 million, $56 million and $20 million for the nine months ended September 30, 2024, respectively. (b)Percent of class total amounts expressed as a percent of total residential mortgage loan balances. The following table summarizes the effects of loan modifications made to borrowers on loans modified:
Three Months Ended September 30 | Weighted-Average Interest Rate Reduction |  | Weighted-Average Months of Term Extension
2025 |  |  |
Commercial(a) | 8.7 | % |  | 9
Commercial real estate | 4.0 |  |  | 10
Residential mortgages | 1.1 |  |  | 79
Credit card | 16.0 |  |  | —
Other retail | 7.3 |  |  | 4
Loans purchased from GNMA mortgage pools | .4 |  |  | 103
2024 |  |  |
Commercial(a) | 20.5 | % |  | 9
Commercial real estate | 4.4 |  |  | 12
Residential mortgages | 1.1 |  |  | 92
Credit card | 16.2 |  |  | —
Other retail | 6.4 |  |  | 5
Loans purchased from GNMA mortgage pools | .4 |  |  | 109
Nine Months Ended September 30 | Weighted-Average Interest Rate Reduction |  | Weighted-Average Months of Term Extension
2025 |  |  |
Commercial(a) | 10.1 | % |  | 11
Commercial real estate | 3.3 |  |  | 9
Residential mortgages | 1.3 |  |  | 88
Credit card | 16.1 |  |  | —
Other retail | 5.8 |  |  | 8
Loans purchased from GNMA mortgage pools | .4 |  |  | 102
2024 |  |  |
Commercial(a) | 20.2 | % |  | 9
Commercial real estate | 3.1 |  |  | 12
Residential mortgages | .9 |  |  | 88
Credit card | 16.3 |  |  | —
Other retail | 7.7 |  |  | 5
Loans purchased from GNMA mortgage pools | .5 |  |  | 113
Note: The weighted-average payment deferral for all portfolio classes was less than $1 million for the three and nine months ended September 30, 2025 and 2024. Forbearance payments are required to be paid at the end of the original term loan. (a)The weighted-average interest rate reduction was primarily driven by commercial cards.
Loans Modified by Delinquency Status | The following table provides a summary of loan balances as of September 30, which were modified during the prior twelve months, by portfolio class and delinquency status:
(Dollars in Millions) | Current | 30-89 Days Past Due | 90 Days or More Past Due | Total
2025 |  |  |  |
Commercial | $ | 423 |  | $ | 18 |  | $ | 76 |  | $ | 517 |
Commercial real estate | 688 |  | — |  | 18 |  | 706 |
Residential mortgages(a) | 1,476 |  | 6 |  | 10 |  | 1,492 |
Credit card | 318 |  | 74 |  | 39 |  | 431 |
Other retail | 87 |  | 14 |  | 6 |  | 107 |
Total loans | $ | 2,992 |  | $ | 112 |  | $ | 149 |  | $ | 3,253 |
2024 |  |  |  |
Commercial | $ | 556 |  | $ | 55 |  | $ | 159 |  | $ | 770 |
Commercial real estate | 752 |  | 2 |  | 455 |  | 1,209 |
Residential mortgages(a) | 1,487 |  | 4 |  | 10 |  | 1,501 |
Credit card | 298 |  | 70 |  | 37 |  | 405 |
Other retail | 120 |  | 17 |  | 5 |  | 142 |
Total loans | $ | 3,213 |  | $ | 148 |  | $ | 666 |  | $ | 4,027 |
(a)At September 30, 2025, $410 million of loans 30-89 days past due and $288 million of loans 90 days or more past due purchased and that could be purchased from GNMA mortgage pools under delinquent loan repurchase options whose payments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $430 million and $265 million at September 30, 2024 respectively.
Loans Modified During the year that Defaulted | The following table provides a summary of loans that defaulted (fully or partially charged-off or became 90 days or more past due) that were modified within twelve months prior to default:
Three Months Ended September 30 (Dollars in Millions) | Interest Rate Reduction | Payment Delay | Term Extension | Multiple Modifications(a)
2025 |  |  |  |
Commercial | $ | 10 |  | $ | — |  | $ | 11 |  | $ | — |
Commercial real estate | — |  | — |  | — |  | — |
Residential mortgages | — |  | — |  | 1 |  | 1 |
Credit card | 34 |  | — |  | — |  | — |
Other retail | 1 |  | — |  | 4 |  | — |
Total loans, excluding loans purchased from GNMA mortgage pools | 45 |  | — |  | 16 |  | 1 |
Loans purchased from GNMA mortgage pools | — |  | 69 |  | 51 |  | 66 |
Total loans | $ | 45 |  | $ | 69 |  | $ | 67 |  | $ | 67 |
2024 |  |  |  |
Commercial | $ | 8 |  | $ | — |  | $ | 13 |  | $ | — |
Commercial real estate | — |  | — |  | 180 |  | — |
Residential mortgages | — |  | 2 |  | — |  | 1 |
Credit card | 33 |  | — |  | — |  | — |
Other retail | 1 |  | — |  | 5 |  | — |
Total loans, excluding loans purchased from GNMA mortgage pools | 42 |  | 2 |  | 198 |  | 1 |
Loans purchased from GNMA mortgage pools | — |  | 97 |  | 50 |  | 54 |
Total loans | $ | 42 |  | $ | 99 |  | $ | 248 |  | $ | 55 |
Nine Months Ended September 30 (Dollars in Millions) | Interest Rate Reduction | Payment Delay | Term Extension | Multiple Modifications(a)
2025 |  |  |  |
Commercial | $ | 29 |  | $ | — |  | $ | 22 |  | $ | — |
Commercial real estate | 36 |  | — |  | — |  | — |
Residential mortgages | — |  | — |  | 1 |  | 4 |
Credit card | 103 |  | — |  | — |  | — |
Other retail | 2 |  | — |  | 13 |  | — |
Total loans, excluding loans purchased from GNMA mortgage pools | 170 |  | — |  | 36 |  | 4 |
Loans purchased from GNMA mortgage pools | — |  | 108 |  | 71 |  | 104 |
Total loans | $ | 170 |  | $ | 108 |  | $ | 107 |  | $ | 108 |
2024 |  |  |  |
Commercial | $ | 20 |  | $ | — |  | $ | 13 |  | $ | — |
Commercial real estate | — |  | — |  | 204 |  | — |
Residential mortgages | — |  | 12 |  | 3 |  | 4 |
Credit card | 92 |  | — |  | — |  | — |
Other retail | 2 |  | 1 |  | 15 |  | — |
Total loans, excluding loans purchased from GNMA mortgage pools | 114 |  | 13 |  | 235 |  | 4 |
Loans purchased from GNMA mortgage pools | — |  | 154 |  | 80 |  | 94 |
Total loans | $ | 114 |  | $ | 167 |  | $ | 315 |  | $ | 98 |
(a)Includes $34 million of total loans receiving a payment delay and term extension, $30 million of total loans receiving an interest rate reduction and term extension, and $3 million of total loans receiving an interest rate reduction, payment delay and term extension for the three months ended September 30, 2025, compared with $49 million, $5 million, and $1 million for the three months ended September 30, 2024, respectively. Includes $59 million of total loans receiving a payment delay and term extension, $44 million of total loans receiving an interest rate reduction and term extension, and $5 million of total loans receiving an interest rate reduction, payment delay and term extension for the nine months ended September 30, 2025, compared with $91 million, $6 million and $1 million for the nine months ended September 30, 2024, respectively.

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