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Loans And The Allowance For Credit Losses | 6 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Loans And The Allowance For Credit Losses | NOTE 4. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES LOANS The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income:
| June 30, 2024 |  | December 31, 2023
| (In millions)
Commercial and industrial | $ | 50,222 |  |  | $ | 50,865 |
Commercial real estate mortgage—owner-occupied | 4,781 |  |  | 4,887 |
Commercial real estate construction—owner-occupied | 370 |  |  | 281 |
Total commercial | 55,373 |  |  | 56,033 |
Commercial investor real estate mortgage | 6,536 |  |  | 6,605 |
Commercial investor real estate construction | 2,301 |  |  | 2,245 |
Total investor real estate | 8,837 |  |  | 8,850 |
Residential first mortgage | 20,206 |  |  | 20,207 |
Home equity lines | 3,142 |  |  | 3,221 |
Home equity loans | 2,410 |  |  | 2,439 |
Consumer credit card | 1,349 |  |  | 1,341 |
Other consumer—exit portfolio | 17 |  |  | 43 |
Other consumer | 6,174 |  |  | 6,245 |
Total consumer | 33,298 |  |  | 33,496 |
Total loans, net of unearned income | $ | 97,508 |  |  | $ | 98,379 |
ALLOWANCE FOR CREDIT LOSSES Regions determines the appropriate level of the allowance on a quarterly basis. Refer to Note 1 "Summary of Significant Accounting Policies" in the Annual Report on Form 10-K for the year ended December 31, 2023, for a description of the methodology. ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES The following tables present analyses of the allowance for credit losses by portfolio segment for three and six months ended June 30, 2024, and 2023.
| Three Months Ended June 30, 2024 |
| Commercial |  | Investor Real Estate |  | Consumer |  | Total |
| (In millions) |
Allowance for loan losses, April 1, 2024 | $ | 756 |  |  | $ | 211 |  |  | $ | 650 |  |  | $ | 1,617 |  |
Provision for loan losses | 31 |  |  | 21 |  |  | 53 |  |  | 105 |  |
Loan losses: |  |  |  |  |  |  |  |
Charge-offs | (61) |  |  | — |  |  | (62) |  |  | (123) |  |
Recoveries | 10 |  |  | 1 |  |  | 11 |  |  | 22 |  |
Net loan (losses) recoveries | (51) |  |  | 1 |  |  | (51) |  |  | (101) |  |
Allowance for loan losses, June 30, 2024 | 736 |  |  | 233 |  |  | 652 |  |  | 1,621 |  |
Reserve for unfunded credit commitments, April 1, 2024 | 87 |  |  | 10 |  |  | 17 |  |  | 114 |  |
Provision for (benefit from) unfunded credit commitments | (2) |  |  | (2) |  |  | 1 |  |  | (3) |  |
Reserve for unfunded credit commitments, June 30, 2024 | 85 |  |  | 8 |  |  | 18 |  |  | 111 |  |
Allowance for credit losses, June 30, 2024 | $ | 821 |  |  | $ | 241 |  |  | $ | 670 |  |  | $ | 1,732 |  |
| Three Months Ended June 30, 2023
| Commercial |  | Investor Real Estate |  | Consumer |  | Total
| (In millions)
Allowance for loan losses, April 1, 2023 | $ | 693 |  |  | $ | 126 |  |  | $ | 653 |  |  | $ | 1,472 |
Provision for loan losses | 46 |  |  | 25 |  |  | 51 |  |  | 122 |
Loan losses: |  |  |  |  |  |  |
Charge-offs | (52) |  |  | — |  |  | (60) |  |  | (112) |
Recoveries | 21 |  |  | — |  |  | 10 |  |  | 31 |
Net loan (losses) recoveries | (31) |  |  | — |  |  | (50) |  |  | (81) |
Allowance for loan losses, June 30, 2023 | 708 |  |  | 151 |  |  | 654 |  |  | 1,513 |
Reserve for unfunded credit commitments, April 1, 2023 | 77 |  |  | 27 |  |  | 20 |  |  | 124 |
Provision for unfunded credit commitments | 5 |  |  | (8) |  |  | (1) |  |  | (4) |
Reserve for unfunded credit commitments, June 30, 2023 | 82 |  |  | 19 |  |  | 19 |  |  | 120 |
Allowance for credit losses, June 30, 2023 | $ | 790 |  |  | $ | 170 |  |  | $ | 673 |  |  | $ | 1,633 |
| Six Months Ended June 30, 2024
| Commercial |  | Investor Real Estate |  | Consumer |  | Total
| (In millions)
Allowance for loan losses, January 1, 2024 | $ | 722 |  |  | $ | 192 |  |  | $ | 662 |  |  | $ | 1,576 |
Provision for loan losses | 119 |  |  | 44 |  |  | 104 |  |  | 267
Loan losses: |  |  |  |  |  |  |
Charge-offs | (123) |  |  | (5) |  |  | (136) |  |  | (264) |
Recoveries | 18 |  |  | 2 |  |  | 22 |  |  | 42 |
Net loan (losses) recoveries | (105) |  |  | (3) |  |  | (114) |  |  | (222) |
Allowance for loan losses, June 30, 2024 | 736 |  | 233 |  | 652 |  | 1,621
Reserve for unfunded credit commitments, January 1, 2024 | 92 |  |  | 13 |  |  | 19 |  |  | 124 |
Provision for (benefit from) unfunded credit losses | (7) |  |  | (5) |  |  | (1) |  |  | (13) |
Reserve for unfunded credit commitments, June 30, 2024 | 85 |  |  | 8 |  |  | 18 |  |  | 111 |
Allowance for credit losses, June 30, 2024 | $ | 821 |  |  | $ | 241 |  |  | $ | 670 |  |  | $ | 1,732 |
| Six Months Ended June 30, 2023
| Commercial |  | Investor Real Estate |  | Consumer |  | Total
| (In millions)
Allowance for loan losses, December 31, 2022 | $ | 665 |  |  | $ | 121 |  |  | $ | 678 |  |  | $ | 1,464 |
Cumulative effect of accounting guidance (1) | (3) |  |  | (3) |  |  | (32) |  |  | (38) |
Allowance for loan losses, January 1, 2023 (adjusted for change in accounting guidance) | $ | 662 |  |  | $ | 118 |  |  | $ | 646 |  |  | $ | 1,426 |
Provision for loan losses | 116 |  |  | 33 |  |  | 102 |  |  | 251 |
Loan losses: |  |  |  |  |  |  |
Charge-offs | (101) |  |  | — |  |  | (116) |  |  | (217) |
Recoveries | 31 |  |  | — |  |  | 22 |  |  | 53 |
Net loan (losses) recoveries | (70) |  |  | — |  |  | (94) |  |  | (164) |
Allowance for loan losses, June 30, 2023 | 708 |  |  | 151 |  |  | 654 |  |  | 1,513 |
Reserve for unfunded credit commitments, January 1, 2023 | 72 |  |  | 21 |  |  | 25 |  |  | 118 |
Provision for (benefit from) unfunded credit losses | 10 |  |  | (2) |  |  | (6) |  |  | 2 |
Reserve for unfunded credit commitments, June 30, 2023 | 82 |  |  | 19 |  |  | 19 |  |  | 120 |
Allowance for credit losses, June 30, 2023 | $ | 790 |  |  | $ | 170 |  |  | $ | 673 |  |  | $ | 1,633 |
_____ (1) See Note 1 in the Annual Report on Form 10-K for the year ended December 31, 2023 for additional information. PORTFOLIO SEGMENT RISK FACTORS Regions' portfolio segments are commercial, investor real estate, and consumer. Classes within each segment present unique credit risks. Refer to Note 5 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2023 for information regarding Regions' portfolio segments and related classes, as well as the risks specific to each. CREDIT QUALITY INDICATORS The commercial and investor real estate portfolio segments' primary credit quality indicator is internal risk ratings which are detailed by categories related to underlying credit quality and probability of default. Regions assigns these risk ratings at loan origination and reviews the relationship utilizing a risk-based approach on, at minimum, an annual basis or at any time management becomes aware of information affecting the borrowers' ability to fulfill their obligations. Both quantitative and qualitative factors are considered in this review process. Refer to Note 5 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2023 for information regarding commercial risk ratings. Regions' consumer portfolio segment has various classes that present unique credit risks. Regions considers factors such as periodic updates of FICO scores, accrual status, days past due status, unemployment rates, home prices, and geography as credit quality indicators for the consumer loan portfolio. FICO scores are obtained at origination as part of Regions' formal underwriting process. Refreshed FICO scores are obtained by the Company quarterly for all consumer loans, including residential first mortgage loans. Current FICO data is not available for certain loans in the portfolio for various reasons; for example, if customers do not use sufficient credit, an updated score may not be available. These categories are utilized to develop the associated allowance for credit losses. The higher the FICO score the less probability of default and vice versa. The following tables present applicable credit quality indicators for the loan portfolio segments and classes, excluding loans held for sale as of June 30, 2024 and December 31, 2023 and gross charge-offs for the year to date period ended June 30, 2024 and 2023, both by vintage year. Regions defines the vintage date for the purposes of disclosure as the date of the most recent credit decision. In general, renewals that are categorized as new credit decisions reflect the renewal date as the vintage date. Classes in the commercial and investor real estate portfolio segments are disclosed by risk rating. Classes in the consumer portfolio segment are disclosed by current FICO scores. Refer to Note 5 "Allowance for Credit Losses" in the Annual Report on Form 10-K for the year ended December 31, 2023 for more information regarding Regions' credit quality indicators.
| June 30, 2024
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Unallocated (1) |  | Total
2024 | 2023 | 2022 | 2021 | 2020 | Prior
(In millions)
Commercial and industrial:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 3,976 |  | $ | 6,405 |  | $ | 7,644 |  | $ | 4,295 |  | $ | 2,042 |  | $ | 4,271 |  |  | $ | 18,696 |  |  | $ | — |  |  | $ | 47 |  |  | $ | 47,376 |
Special Mention | 80 |  | 286 |  | 154 |  | 7 |  | 56 |  | 19 |  |  | 526 |  |  | — |  |  | — |  |  | 1,128 |
Substandard Accrual | 13 |  | 45 |  | 268 |  | 90 |  | 11 |  | 67 |  |  | 801 |  |  | — |  |  | — |  |  | 1,295 |
Non-accrual | 6 |  | 127 |  | 111 |  | 33 |  | 4 |  | 27 |  |  | 115 |  |  | — |  |  | — |  |  | 423 |
Total commercial and industrial | $ | 4,075 |  | $ | 6,863 |  | $ | 8,177 |  | $ | 4,425 |  | $ | 2,113 |  | $ | 4,384 |  |  | $ | 20,138 |  |  | $ | — |  |  | $ | 47 |  |  | $ | 50,222 |
Commercial real estate mortgage—owner-occupied:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 374 |  | $ | 741 |  | $ | 895 |  | $ | 892 |  | $ | 568 |  | $ | 938 |  |  | $ | 92 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 4,496 |
Special Mention | 1 |  | 5 |  | 16 |  | 24 |  | 12 |  | 48 |  |  | 1 |  |  | — |  |  | — |  |  | 107 |
Substandard Accrual | 3 |  | 3 |  | 35 |  | 44 |  | 15 |  | 33 |  |  | 2 |  |  | — |  |  | — |  |  | 135 |
Non-accrual | 2 |  | 2 |  | 5 |  | 16 |  | 5 |  | 12 |  |  | 1 |  |  | — |  |  | — |  |  | 43 |
Total commercial real estate mortgage—owner-occupied: | $ | 380 |  | $ | 751 |  | $ | 951 |  | $ | 976 |  | $ | 600 |  | $ | 1,031 |  |  | $ | 96 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 4,781 |
| June 30, 2024
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Unallocated (1) |  | Total
2024 | 2023 | 2022 | 2021 | 2020 | Prior
(In millions)
Commercial real estate construction—owner-occupied:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 93 |  | $ | 75 |  | $ | 42 |  | $ | 34 |  | $ | 21 |  | $ | 44 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 313 |
Special Mention | — |  | 34 |  | 8 |  | — |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | 42 |
Substandard Accrual | — |  | — |  | 4 |  | — |  | 2 |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |
Non-accrual | — |  | 2 |  | — |  | — |  | 2 |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 9 |
Total commercial real estate construction—owner-occupied: | $ | 93 |  | $ | 111 |  | $ | 54 |  | $ | 34 |  | $ | 25 |  | $ | 49 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 370 |
Total commercial | $ | 4,548 |  | $ | 7,725 |  | $ | 9,182 |  | $ | 5,435 |  | $ | 2,738 |  | $ | 5,464 |  |  | $ | 20,238 |  |  | $ | — |  |  | $ | 43 |  |  | $ | 55,373 |
Commercial investor real estate mortgage:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 581 |  | $ | 1,065 |  | $ | 1,437 |  | $ | 1,054 |  | $ | 369 |  | $ | 291 |  |  | $ | 321 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 5,115 |
Special Mention | 175 |  | 26 |  | 316 |  | 39 |  | 20 |  | 14 |  |  | 17 |  |  | — |  |  | — |  |  | 607 |
Substandard Accrual | 180 |  | 81 |  | 69 |  | 24 |  | 18 |  | 31 |  |  | 94 |  |  | — |  |  | — |  |  | 497 |
Non-accrual | 142 |  | 59 |  | 57 |  | — |  | — |  | 59 |  |  | — |  |  | — |  |  | — |  |  | 317 |
Total commercial investor real estate mortgage | $ | 1,078 |  | $ | 1,231 |  | $ | 1,879 |  | $ | 1,117 |  | $ | 407 |  | $ | 395 |  |  | $ | 432 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 6,536 |
Commercial investor real estate construction:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 77 |  | $ | 287 |  | $ | 767 |  | $ | 155 |  | $ | — |  | $ | 2 |  |  | $ | 772 |  |  | $ | — |  |  | $ | (13) |  |  | $ | 2,047 |
Special Mention | — |  | — |  | 199 |  | — |  | — |  | — |  |  | 33 |  |  | — |  |  | — |  |  | 232 |
Substandard Accrual | — |  | — |  | — |  | — |  | — |  | — |  |  | 22 |  |  | — |  |  | — |  |  | 22 |
Non-accrual | — |  | — |  | — |  | — |  | — |  | — |  |  |  |  | — |  |  | — |  |  | — |
Total commercial investor real estate construction | $ | 77 |  | $ | 287 |  | $ | 966 |  | $ | 155 |  | $ | — |  | $ | 2 |  |  | $ | 827 |  |  | $ | — |  |  | $ | (13) |  |  | $ | 2,301 |
Total investor real estate | $ | 1,155 |  | $ | 1,518 |  | $ | 2,845 |  | $ | 1,272 |  | $ | 407 |  | $ | 397 |  |  | $ | 1,259 |  |  | $ | — |  |  | $ | (16) |  |  | $ | 8,837 |
Residential first mortgage:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 541 |  | $ | 1,996 |  | $ | 2,851 |  | $ | 4,235 |  | $ | 4,190 |  | $ | 2,949 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,762 |
681-720 | 59 |  | 213 |  | 261 |  | 294 |  | 240 |  | 323 |  |  | — |  |  | — |  |  | — |  |  | 1,390 |
620-680 | 26 |  | 86 |  | 139 |  | 152 |  | 106 |  | 300 |  |  | — |  |  | — |  |  | — |  |  | 809 |
Below 620 | 3 |  | 51 |  | 118 |  | 128 |  | 93 |  | 432 |  |  | — |  |  | — |  |  | — |  |  | 825 |
Data not available | 13 |  | 30 |  | 20 |  | 43 |  | 45 |  | 93 |  |  | 2 |  |  | — |  |  | 174 |  |  | 420 |
Total residential first mortgage | $ | 642 |  | $ | 2,376 |  | $ | 3,389 |  | $ | 4,852 |  | $ | 4,674 |  | $ | 4,097 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 174 |  |  | $ | 20,206 |
Home equity lines:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 2,336 |  |  | $ | 45 |  |  | $ | — |  |  | $ | 2,381 |
681-720 | — |  | — |  | — |  | — |  | — |  | — |  |  | 337 |  |  | 10 |  |  | — |  |  | 347 |
620-680 | — |  | — |  | — |  | — |  | — |  | — |  |  | 182 |  |  | 10 |  |  | — |  |  | 192 |
Below 620 | — |  | — |  | — |  | — |  | — |  | — |  |  | 95 |  |  | 6 |  |  | — |  |  | 101 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | 85 |  |  | 5 |  |  | 31 |  |  | 121 |
Total home equity lines | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 3,035 |  |  | $ | 76 |  |  | $ | 31 |  |  | $ | 3,142 |
Home equity loans:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 167 |  | $ | 298 |  | $ | 337 |  | $ | 359 |  | $ | 185 |  | $ | 543 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,889 |
681-720 | 26 |  | 42 |  | 57 |  | 46 |  | 17 |  | 65 |  |  | — |  |  | — |  |  | — |  |  | 253 |
620-680 | 9 |  | 20 |  | 25 |  | 22 |  | 10 |  | 51 |  |  | — |  |  | — |  |  | — |  |  | 137 |
Below 620 | 1 |  | 4 |  | 11 |  | 13 |  | 5 |  | 39 |  |  | — |  |  | — |  |  | — |  |  | 73 |
Data not available | — |  | 1 |  | 4 |  | 6 |  | 3 |  | 28 |  |  | — |  |  | — |  |  | 16 |  |  | 58 |
Total home equity loans | $ | 203 |  | $ | 365 |  | $ | 434 |  | $ | 446 |  | $ | 220 |  | $ | 726 |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | 2,410 |
| June 30, 2024
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Unallocated (1) |  | Total
2024 | 2023 | 2022 | 2021 | 2020 | Prior
(In millions)
Consumer credit card:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 779 |  |  | $ | — |  |  | $ | — |  |  | $ | 779 |
681-720 | — |  | — |  | — |  | — |  | — |  | — |  |  | 258 |  |  | — |  |  | — |  |  | 258 |
620-680 | — |  | — |  | — |  | — |  | — |  | — |  |  | 211 |  |  | — |  |  | — |  |  | 211 |
Below 620 | — |  | — |  | — |  | — |  | — |  | — |  |  | 95 |  |  | — |  |  | — |  |  | 95 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | 26 |  |  | — |  |  | (20) |  |  | 6 |
Total consumer credit card | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 1,369 |  |  | $ | — |  |  | $ | (20) |  |  | $ | 1,349 |
Other consumer—exit portfolios:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |
681-720 | — |  | — |  | — |  | — |  | — |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
620-680 | — |  | — |  | — |  | — |  | — |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Below 620 | — |  | — |  | — |  | — |  | — |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 4 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (1) |
Total other consumer—exit portfolios | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 18 |  |  | $ | — |  |  | $ | — |  | $ | — |  | $ | (1) |  |  | $ | 17 |
Other consumer(2):
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 491 |  | $ | 1,193 |  | $ | 1,456 |  | $ | 471 |  | $ | 265 |  | $ | 246 |  |  | $ | 118 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,240 |
681-720 | 70 |  | 244 |  | 336 |  | 112 |  | 57 |  | 47 |  |  | 64 |  |  | — |  |  | — |  |  | 930 |
620-680 | 34 |  | 137 |  | 213 |  | 76 |  | 36 |  | 30 |  |  | 50 |  |  | — |  |  | — |  |  | 576 |
Below 620 | 6 |  | 42 |  | 116 |  | 45 |  | 21 |  | 18 |  |  | 30 |  |  | — |  |  | — |  |  | 278 |
Data not available | 74 |  | 7 |  | 9 |  | 6 |  | 5 |  | 167 |  |  | 2 |  |  | — |  |  | (120) |  |  | 150 |
Total other consumer | $ | 675 |  | $ | 1,623 |  | $ | 2,130 |  | $ | 710 |  | $ | 384 |  | $ | 508 |  |  | $ | 264 |  |  | $ | — |  |  | $ | (120) |  |  | $ | 6,174 |
Total consumer loans | $ | 1,520 |  | $ | 4,364 |  | $ | 5,953 |  | $ | 6,008 |  | $ | 5,278 |  | $ | 5,349 |  |  | $ | 4,670 |  |  | $ | 76 |  |  | $ | 80 |  |  | $ | 33,298 |
Total Loans | $ | 7,223 |  | $ | 13,607 |  | $ | 17,980 |  | $ | 12,715 |  | $ | 8,423 |  | $ | 11,210 |  |  | $ | 26,167 |  |  | $ | 76 |  |  | $ | 107 |  |  | $ | 97,508 |
| December 31, 2023
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Unallocated (1) |  | Total
2023 | 2022 | 2021 | 2020 | 2019 | Prior
(In millions)
Commercial and industrial:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 8,272 |  | $ | 9,123 |  | $ | 5,267 |  | $ | 2,326 |  | $ | 1,376 |  | $ | 3,210 |  |  | $ | 18,561 |  |  | $ | — |  |  | $ | 53 |  |  | $ | 48,188 |
Special Mention | 87 |  | 186 |  | 71 |  | 109 |  | 26 |  | 90 |  |  | 484 |  |  | — |  |  | — |  |  | 1,053 |
Substandard Accrual | 141 |  | 212 |  | 74 |  | 38 |  | 7 |  | 3 |  |  | 678 |  |  | — |  |  | — |  |  | 1,153 |
Non-accrual | 128 |  | 102 |  | 37 |  | 6 |  | 20 |  | 10 |  |  | 168 |  |  | — |  |  | — |  |  | 471 |
Total commercial and industrial | $ | 8,628 |  | $ | 9,623 |  | $ | 5,449 |  | $ | 2,479 |  | $ | 1,429 |  | $ | 3,313 |  |  | $ | 19,891 |  |  | $ | — |  |  | $ | 53 |  |  | $ | 50,865 |
Commercial real estate mortgage—owner-occupied:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 799 |  | $ | 954 |  | $ | 988 |  | $ | 658 |  | $ | 343 |  | $ | 801 |  |  | $ | 76 |  |  | $ | — |  |  | $ | (5) |  |  | $ | 4,614 |
Special Mention | 21 |  | 13 |  | 33 |  | 20 |  | 7 |  | 13 |  |  | 14 |  |  | — |  |  | — |  |  | 121 |
Substandard Accrual | 3 |  | 34 |  | 32 |  | 14 |  | 8 |  | 24 |  |  | 1 |  |  | — |  |  | — |  |  | 116 |
Non-accrual | 4 |  | 3 |  | 10 |  | 8 |  | 3 |  | 8 |  |  | — |  |  | — |  |  | — |  |  | 36 |
Total commercial real estate mortgage—owner-occupied: | $ | 827 |  | $ | 1,004 |  | $ | 1,063 |  | $ | 700 |  | $ | 361 |  | $ | 846 |  |  | $ | 91 |  |  | $ | — |  |  | $ | (5) |  |  | $ | 4,887 |
Commercial real estate construction—owner-occupied:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 89 |  | $ | 53 |  | $ | 44 |  | $ | 24 |  | $ | 11 |  | $ | 38 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 262 |
Special Mention | — |  | 7 |  | — |  | — |  | — |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 8 |
Substandard Accrual | — |  | 1 |  | — |  | 1 |  | — |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Non-accrual | 2 |  | — |  | — |  | 2 |  | — |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 8 |
Total commercial real estate construction—owner-occupied: | $ | 91 |  | $ | 61 |  | $ | 44 |  | $ | 27 |  | $ | 11 |  | $ | 44 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 281 |
Total commercial | $ | 9,546 |  | $ | 10,688 |  | $ | 6,556 |  | $ | 3,206 |  | $ | 1,801 |  | $ | 4,203 |  |  | $ | 19,985 |  |  | $ | — |  |  | $ | 48 |  |  | $ | 56,033 |
Commercial investor real estate mortgage:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,130 |  | $ | 1,587 |  | $ | 1,135 |  | $ | 488 |  | $ | 296 |  | $ | 110 |  |  | $ | 383 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 5,125 |
Special Mention | 269 |  | 247 |  | 52 |  | 59 |  | 30 |  | — |  |  | 90 |  |  | — |  |  | — |  |  | 747 |
Substandard Accrual | 134 |  | 197 |  | — |  | 67 |  | 67 |  | 3 |  |  | 32 |  |  | — |  |  | — |  |  | 500 |
Non-accrual | 99 |  | 57 |  | 37 |  | — |  | 12 |  | 28 |  |  | — |  |  | — |  |  | — |  |  | 233 |
Total commercial investor real estate mortgage | $ | 1,632 |  | $ | 2,088 |  | $ | 1,224 |  | $ | 614 |  | $ | 405 |  | $ | 141 |  |  | $ | 505 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 6,605 |
Commercial investor real estate construction:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 256 |  | $ | 836 |  | $ | 280 |  | $ | 26 |  | $ | 2 |  | $ | 1 |  |  | $ | 649 |  |  | $ | — |  |  | $ | (15) |  |  | $ | 2,035 |
Special Mention | — |  | 122 |  | — |  | — |  | — |  | — |  |  | 59 |  |  | — |  |  | — |  |  | 181 |
Substandard Accrual | — |  | 25 |  | — |  | — |  | — |  | — |  |  | 4 |  |  | — |  |  | — |  |  | 29 |
Non-accrual | — |  | — |  | — |  | — |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial investor real estate construction | $ | 256 |  | $ | 983 |  | $ | 280 |  | $ | 26 |  | $ | 2 |  | $ | 1 |  |  | $ | 712 |  |  | $ | — |  |  | $ | (15) |  |  | $ | 2,245 |
Total investor real estate | $ | 1,888 |  | $ | 3,071 |  | $ | 1,504 |  | $ | 640 |  | $ | 407 |  | $ | 142 |  |  | $ | 1,217 |  |  | $ | — |  |  | $ | (19) |  |  | $ | 8,850 |
Residential first mortgage:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 1,939 |  | $ | 2,863 |  | $ | 4,358 |  | $ | 4,390 |  | $ | 816 |  | $ | 2,353 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,719 |
681-720 | 226 |  | 298 |  | 355 |  | 255 |  | 52 |  | 294 |  |  | — |  |  | — |  |  | — |  |  | 1,480 |
620-680 | 86 |  | 153 |  | 153 |  | 112 |  | 43 |  | 270 |  |  | — |  |  | — |  |  | — |  |  | 817 |
Below 620 | 21 |  | 90 |  | 122 |  | 87 |  | 53 |  | 389 |  |  | — |  |  | — |  |  | — |  |  | 762 |
Data not available | 33 |  | 16 |  | 49 |  | 46 |  | 11 |  | 92 |  |  | 1 |  |  | — |  |  | 181 |  |  | 429 |
Total residential first mortgage | $ | 2,305 |  | $ | 3,420 |  | $ | 5,037 |  | $ | 4,890 |  | $ | 975 |  | $ | 3,398 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 181 |  |  | $ | 20,207 |
| December 31, 2023
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Unallocated (1) |  | Total
2023 | 2022 | 2021 | 2020 | 2019 | Prior
(In millions)
Home equity lines:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 2,399 |  |  | $ | 45 |  |  | $ | — |  |  | $ | 2,444 |
681-720 | — |  | — |  | — |  | — |  | — |  | — |  |  | 346 |  |  | 11 |  |  | — |  |  | 357 |
620-680 | — |  | — |  | — |  | — |  | — |  | — |  |  | 184 |  |  | 9 |  |  | — |  |  | 193 |
Below 620 | — |  | — |  | — |  | — |  | — |  | — |  |  | 97 |  |  | 7 |  |  | — |  |  | 104 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | 85 |  |  | 5 |  |  | 33 |  |  | 123 |
Total home equity lines | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 3,111 |  |  | $ | 77 |  |  | $ | 33 |  |  | $ | 3,221 |
Home equity loans:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 322 |  | $ | 370 |  | $ | 397 |  | $ | 205 |  | $ | 93 |  | $ | 529 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,916 |
681-720 | 53 |  | 62 |  | 49 |  | 22 |  | 14 |  | 60 |  |  | — |  |  | — |  |  | — |  |  | 260 |
620-680 | 19 |  | 27 |  | 23 |  | 8 |  | 8 |  | 52 |  |  | — |  |  | — |  |  | — |  |  | 137 |
Below 620 | 2 |  | 8 |  | 12 |  | 5 |  | 7 |  | 35 |  |  | — |  |  | — |  |  | — |  |  | 69 |
Data not available | 1 |  | 4 |  | 5 |  | 3 |  | 3 |  | 25 |  |  | — |  |  | — |  |  | 16 |  |  | 57 |
Total home equity loans | $ | 397 |  | $ | 471 |  | $ | 486 |  | $ | 243 |  | $ | 125 |  | $ | 701 |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | 2,439 |
Consumer credit card:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 780 |  |  | $ | — |  |  | $ | — |  |  | $ | 780 |
681-720 | — |  | — |  | — |  | — |  | — |  | — |  |  | 254 |  |  | — |  |  | — |  |  | 254 |
620-680 | — |  | — |  | — |  | — |  | — |  | — |  |  | 210 |  |  | — |  |  | — |  |  | 210 |
Below 620 | — |  | — |  | — |  | — |  | — |  | — |  |  | 95 |  |  | — |  |  | — |  |  | 95 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | 20 |  |  | — |  |  | (18) |  |  | 2 |
Total consumer credit card | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 1,359 |  |  | $ | — |  |  | $ | (18) |  |  | $ | 1,341 |
Other consumer—exit portfolios:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 2 |  | $ | 22 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 24 |
681-720 | — |  | — |  | — |  | — |  | 1 |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 5 |
620-680 | — |  | — |  | — |  | — |  | — |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Below 620 | — |  | — |  | — |  | — |  | 1 |  | 7 |  |  | — |  |  | — |  |  | — |  |  | 8 |
Data not available | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Total other consumer—exit portfolios | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 4 |  | $ | 39 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 43 |
Other consumer(2):
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 1,312 |  | $ | 1,519 |  | $ | 501 |  | $ | 284 |  | $ | 155 |  | $ | 118 |  |  | $ | 119 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,008 |
681-720 | 270 |  | 409 |  | 136 |  | 74 |  | 34 |  | 29 |  |  | 67 |  |  | — |  |  | — |  |  | 1,019 |
620-680 | 178 |  | 294 |  | 103 |  | 50 |  | 21 |  | 20 |  |  | 53 |  |  | — |  |  | — |  |  | 719 |
Below 620 | 52 |  | 147 |  | 65 |  | 31 |  | 14 |  | 13 |  |  | 30 |  |  | — |  |  | — |  |  | 352 |
Data not available | 94 |  | 10 |  | 7 |  | 5 |  | 114 |  | 65 |  |  | 1 |  |  | — |  |  | (149) |  |  | 147 |
Total other consumer | $ | 1,906 |  | $ | 2,379 |  | $ | 812 |  | $ | 444 |  | $ | 338 |  | $ | 245 |  |  | $ | 270 |  |  | $ | — |  |  | $ | (149) |  |  | $ | 6,245 |
Total consumer loans | $ | 4,608 |  | $ | 6,270 |  | $ | 6,335 |  | $ | 5,577 |  | $ | 1,442 |  | $ | 4,383 |  |  | $ | 4,741 |  |  | $ | 77 |  |  | $ | 63 |  |  | $ | 33,496 |
Total Loans | $ | 16,042 |  | $ | 20,029 |  | $ | 14,395 |  | $ | 9,423 |  | $ | 3,650 |  | $ | 8,728 |  |  | $ | 25,943 |  |  | $ | 77 |  |  | $ | 92 |  |  | $ | 98,379 |
________ (1)These amounts consist of fees that are not allocated at the loan level and loans serviced by third parties wherein Regions does not receive FICO or vintage information. (2)Other consumer class includes overdrafts which are included in the current vintage year. The following tables present gross charge-offs by vintage year for the six months ended June 30, 2024 and 2023.
| Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term Loans |  | Revolving Loans |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | 2023 | 2022 | 2021 | 2020 | Prior |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 5 |  | $ | 33 |  | $ | 36 |  | $ | 8 |  | $ | 4 |  | $ | 8 |  |  | $ | 28 |  |  | $ | 122 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate mortgage—owner-occupied | — |  | — |  | — |  | 1 |  | — |  | — |  |  | — |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total commercial | 5 |  | 33 |  | 36 |  | 9 |  | 4 |  | 8 |  |  | 28 |  |  | 123 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial investor real estate mortgage | — |  | — |  | — |  | 5 |  | — |  | — |  |  | — |  |  | 5 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total investor real estate | — |  | — |  | — |  | 5 |  | — |  | — |  |  | — |  |  | 5 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential first mortgage | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines | — |  | — |  | — |  | — |  | — |  | — |  |  | 2 |  |  | 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer credit card | — |  | — |  | — |  | — |  | — |  | — |  |  | 31 |  |  | 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other consumer—exit portfolios | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other consumer(1) | 17 |  | 23 |  | 34 |  | 11 |  | 5 |  | 7 |  |  | 4 |  |  | 101 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total consumer | 17 |  | 23 |  | 34 |  | 11 |  | 5 |  | 9 |  |  | 37 |  |  | 136 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gross charge-offs | $ | 22 |  | $ | 56 |  | $ | 70 |  | $ | 25 |  | $ | 9 |  | $ | 17 |  |  | $ | 65 |  |  | $ | 264 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2023
Term Loans |  | Revolving Loans |  | Total
2023 | 2022 | 2021 | 2020 | 2019 | Prior
(In millions)
Commercial and industrial | $ | — |  | $ | 34 |  | $ | 25 |  | $ | 19 |  | $ | 9 |  | $ | 9 |  |  | $ | 5 |  |  | $ | 101 |
Total commercial | — |  | 34 |  | 25 |  | 19 |  | 9 |  | 9 |  |  | 5 |  |  | 101 |
Residential first mortgage | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 1 |
Home equity lines | — |  | — |  | — |  | — |  | — |  | — |  |  | 2 |  |  | 2 |
Consumer credit card | — |  | — |  | — |  | — |  | — |  | — |  |  | 24 |  |  | 24 |
Other consumer—exit portfolios | — |  | — |  | — |  | — |  | 3 |  | 5 |  |  | — |  |  | 8 |
Other consumer(1) | 20 |  | 26 |  | 17 |  | 8 |  | 4 |  | 6 |  |  | — |  |  | 81 |
Total consumer | 20 |  | 26 |  | 17 |  | 8 |  | 7 |  | 12 |  |  | 26 |  |  | 116 |
Total gross charge-offs | $ | 20 |  | $ | 60 |  | $ | 42 |  | $ | 27 |  | $ | 16 |  | $ | 21 |  |  | $ | 31 |  |  | $ | 217 |
______ (1)Other consumer class includes overdraft gross charge-offs. The majority of overdraft gross charge-offs for the six months ended June 30, 2024 and 2023 are included in the current vintage year. AGING AND NON-ACCRUAL ANALYSIS The following tables include an aging analysis of DPD and loans on non-accrual status for each portfolio segment and class as of June 30, 2024 and December 31, 2023. Loans on non-accrual status with no related allowance totaled $174 million and $280 million comprised of commercial and investor real estate loans at June 30, 2024 and December 31, 2023, respectively. Non–accrual loans with no related allowance typically include loans where the underlying collateral is deemed sufficient to recover all remaining principal. Loans that have been fully charged-off do not appear in the tables below.
| June 30, 2024
| Accrual Loans |  |  |  |  |  |
| 30-59 DPD |  | 60-89 DPD |  | 90+ DPD |  | Total 30+ DPD |  | Total Accrual |  | Non-accrual |  | Total
| (In millions)
Commercial and industrial | $ | 40 |  |  | $ | 16 |  |  | $ | 6 |  |  | $ | 62 |  |  | $ | 49,799 |  |  | $ | 423 |  |  | $ | 50,222 |
Commercial real estate mortgage—owner-occupied | 3 |  |  | 1 |  |  | 1 |  |  | 5 |  |  | 4,738 |  |  | 43 |  |  | 4,781 |
Commercial real estate construction—owner-occupied | — |  |  | — |  |  | — |  |  | — |  |  | 361 |  |  | 9 |  |  | 370 |
Total commercial | 43 |  |  | 17 |  |  | 7 |  |  | 67 |  |  | 54,898 |  |  | 475 |  |  | 55,373 |
Commercial investor real estate mortgage | — |  |  | 10 |  |  | 23 |  |  | 33 |  |  | 6,219 |  |  | 317 |  |  | 6,536 |
Commercial investor real estate construction | — |  |  | — |  |  | — |  |  | — |  |  | 2,301 |  |  | — |  |  | 2,301 |
Total investor real estate | — |  |  | 10 |  |  | 23 |  |  | 33 |  |  | 8,520 |  |  | 317 |  |  | 8,837 |
Residential first mortgage | 109 |  |  | 50 |  |  | 113 |  |  | 272 |  |  | 20,184 |  |  | 22 |  |  | 20,206 |
Home equity lines | 17 |  |  | 6 |  |  | 18 |  |  | 41 |  |  | 3,115 |  |  | 27 |  |  | 3,142 |
Home equity loans | 7 |  |  | 6 |  |  | 6 |  |  | 19 |  |  | 2,404 |  |  | 6 |  |  | 2,410 |
Consumer credit card | 11 |  |  | 7 |  |  | 18 |  |  | 36 |  |  | 1,349 |  |  | — |  |  | 1,349 |
Other consumer—exit portfolios | 1 |  |  | 1 |  |  | — |  |  | 2 |  |  | 17 |  |  | — |  |  | 17 |
Other consumer | 43 |  |  | 22 |  |  | 21 |  |  | 86 |  |  | 6,174 |  |  | — |  |  | 6,174 |
Total consumer | 188 |  |  | 92 |  |  | 176 |  |  | 456 |  |  | 33,243 |  |  | 55 |  |  | 33,298 |
| $ | 231 |  |  | $ | 119 |  |  | $ | 206 |  |  | $ | 556 |  |  | $ | 96,661 |  |  | $ | 847 |  |  | $ | 97,508 |
| December 31, 2023
| Accrual Loans |  |  |  |  |  |
| 30-59 DPD |  | 60-89 DPD |  | 90+ DPD |  | Total 30+ DPD |  | Total Accrual |  | Non-accrual |  | Total
| (In millions)
Commercial and industrial | $ | 43 |  |  | $ | 21 |  |  | $ | 11 |  |  | $ | 75 |  |  | $ | 50,394 |  |  | $ | 471 |  |  | $ | 50,865 |
Commercial real estate mortgage—owner-occupied | 3 |  |  | 2 |  |  | — |  |  | 5 |  |  | 4,851 |  |  | 36 |  |  | 4,887 |
Commercial real estate construction—owner-occupied | — |  |  | 1 |  |  | — |  |  | 1 |  |  | 273 |  |  | 8 |  |  | 281 |
Total commercial | 46 |  |  | 24 |  |  | 11 |  |  | 81 |  |  | 55,518 |  |  | 515 |  |  | 56,033 |
Commercial investor real estate mortgage | — |  |  | — |  |  | 23 |  |  | 23 |  |  | 6,372 |  |  | 233 |  |  | 6,605 |
Commercial investor real estate construction | — |  |  | — |  |  | — |  |  | — |  |  | 2,245 |  |  | — |  |  | 2,245 |
Total investor real estate | — |  |  | — |  |  | 23 |  |  | 23 |  |  | 8,617 |  |  | 233 |  |  | 8,850 |
Residential first mortgage | 104 |  |  | 48 |  |  | 95 |  |  | 247 |  |  | 20,185 |  |  | 22 |  |  | 20,207 |
Home equity lines | 17 |  |  | 10 |  |  | 20 |  |  | 47 |  |  | 3,192 |  |  | 29 |  |  | 3,221 |
Home equity loans | 10 |  |  | 4 |  |  | 7 |  |  | 21 |  |  | 2,433 |  |  | 6 |  |  | 2,439 |
Consumer credit card | 11 |  |  | 8 |  |  | 20 |  |  | 39 |  |  | 1,341 |  |  | — |  |  | 1,341 |
Other consumer—exit portfolios | 2 |  |  | 1 |  |  | — |  |  | 3 |  |  | 43 |  |  | — |  |  | 43 |
Other consumer | 60 |  |  | 31 |  |  | 29 |  |  | 120 |  |  | 6,245 |  |  | — |  |  | 6,245 |
Total consumer | 204 |  |  | 102 |  |  | 171 |  |  | 477 |  |  | 33,439 |  |  | 57 |  |  | 33,496 |
| $ | 250 |  |  | $ | 126 |  |  | $ | 205 |  |  | $ | 581 |  |  | $ | 97,574 |  |  | $ | 805 |  |  | $ | 98,379 |
At June 30, 2024 and December 31, 2023, the Company had collateral-dependent commercial loans of $234 million and $220 million, respectively. At June 30, 2024 and December 31, 2023, the Company had collateral-dependent investor real estate loans of $256 million and $92 million, respectively. The collateral for commercial and investor real estate loans generally consists of business assets including real estate, receivables and equipment. At June 30, 2024 and December 31, 2023, the Company had collateral-dependent residential mortgage and home equity loans and lines totaling $108 million and $93 million, respectively. The collateral for these loans consists of residential real estate. MODIFICATIONS TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY The majority of Regions' commercial and investor real estate modifications to troubled borrowers are the result of renewals of classified loans wherein there has been an interest rate reduction and/or maturity extension (that is considered other than insignificant). Similarly, Regions works to meet the individual needs of troubled consumer borrowers through its CAP. Regions designed the program to allow for customer-tailored modifications with the goal of keeping customers in their homes and avoiding foreclosure where possible. Modifications may be offered to any borrower experiencing financial hardship regardless of the borrower's payment status. Consumer modifications to troubled borrowers primarily involve an interest rate reduction and/or a payment deferral or maturity extension that is considered other than insignificant. All CAP modifications that involve an interest rate reduction, principal forgiveness, other than insignificant payment deferral or term extension and/or a combination of these are disclosed as modifications to troubled borrowers because the customer documents a financial hardship in order to participate. Refer to Note 1 "Summary of Significant Accounting Policies" in the Annual Report on Form 10-K for the year ended December 31, 2023 for additional information regarding the Company's modifications to troubled borrowers. For each portfolio segment and class, the following tables present the end of period balances of new modifications to troubled borrowers and the related percentage of the loan portfolio period-end balance by the type of modification that occurred in the three and six months ended June 30, 2024 and 2023.
|  |  | Three Months Ended June 30, 2024
|  |  | Term Extension |  |  |  | Payment Deferral |  |  |  | Term Extension and Interest Rate Modification |  |  |  |  |  | Total
|  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  |  |  |  | $ | %(1)
|  |  | (Dollars in millions)
Commercial and industrial |  |  |  | $ | 23 |  | 0.05 | % |  |  |  |  | $ | — |  | — | % |  |  |  |  | $ | — |  | — | % |  |  |  |  |  |  |  | $ | 23 |  | 0.05 | %
Commercial real estate mortgage—owner-occupied |  |  |  | 3 |  | 0.05 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 3 |  | 0.05 | %
Total commercial |  |  |  | 26 |  | 0.05 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 26 |  | 0.05 | %
Residential first mortgage |  |  |  | 43 |  | 0.21 | % |  |  |  |  | 1 |  | — | % |  |  |  |  | 1 |  | — | % |  |  |  |  |  |  |  | 45 |  | 0.22 | %
Home equity lines |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | 0.05 | % |  |  |  |  |  |  |  | 1 |  | 0.06 | %
Home equity loans |  |  |  | 1 |  | 0.05 | % |  |  |  |  | — |  | — | % |  |  |  |  | 2 |  | 0.08 | % |  |  |  |  |  |  |  | 3 |  | 0.13 | %
Total consumer |  |  |  | 44 |  | 0.13 | % |  |  |  |  | 1 |  | — | % |  |  |  |  | 4 |  | 0.01 | % |  |  |  |  |  |  |  | 49 |  | 0.15 | %
|  |  |  | $ | 70 |  | 0.07 | % |  |  |  |  | $ | 1 |  | — | % |  |  |  |  | $ | 4 |  | — | % |  |  |  |  |  |  |  | $ | 75 |  | 0.08 | %
|  |  | Three Months Ended June 30, 2023
|  |  | Term Extension |  |  |  | Payment Deferral |  |  |  | Term Extension and Interest Rate Modification |  |  |  |  |  | Total
|  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  |  |  |  | $ | %(1)
|  |  |  | (Dollars in millions)
Commercial and industrial |  |  |  | $ | 57 |  | 0.11 | % |  |  |  |  | $ | 24 |  | 0.05 | % |  |  |  |  | $ | — |  | — | % |  |  |  |  |  |  |  | $ | 81 |  | 0.15 | %
Commercial real estate mortgage—owner-occupied |  |  |  | 8 |  | 0.17 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 8 |  | 0.17 | %
Commercial real estate construction—owner-occupied |  |  |  | 3 |  | 0.66 | % |  |  |  |  | — |  | 0.15 | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 3 |  | 0.81 | %
Total commercial |  |  |  | 68 |  | 0.12 | % |  |  |  |  | 24 |  | 0.04 | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 92 |  | 0.16 | %
Commercial investor real estate mortgage |  |  |  | 63 |  | 0.98 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 63 |  | 0.98 | %
Total investor real estate |  |  |  | 63 |  | 0.73 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 63 |  | 0.73 | %
Residential first mortgage |  |  |  | 27 |  | 0.14 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 27 |  | 0.14 | %
Home equity lines |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | 0.02 | % |  |  |  |  |  |  |  | 1 |  | 0.03 | %
Home equity loans |  |  |  | 2 |  | 0.06 | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | 0.06 | % |  |  |  |  |  |  |  | 3 |  | 0.11 | %
Total consumer |  |  |  | 29 |  | 0.09 | % |  |  |  |  | — |  | — | % |  |  |  |  | 2 |  | 0.01 | % |  |  |  |  |  |  |  | 31 |  | 0.09 | %
Total |  |  |  | $ | 160 |  | 0.16 | % |  |  |  |  | $ | 24 |  | 0.02 | % |  |  |  |  | $ | 2 |  | — | % |  |  |  |  |  |  |  | $ | 186 |  | 0.19 | %
|  |  |  | Six Months Ended June 30, 2024
|  |  | Term Extension |  |  |  | Payment Deferral |  |  |  | Term Extension and Interest Rate Modification |  |  |  |  |  | Total
|  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  |  |  |  | $ | %(1)
|  |  |  | (Dollars in millions)
Commercial and industrial |  |  |  | $ | 35 |  | 0.07 | % |  |  |  |  | $ | — |  | — | % |  |  |  |  | $ | 1 |  | — | % |  |  |  |  |  |  |  | $ | 36 |  | 0.07 | %
Commercial real estate mortgage—owner-occupied |  |  |  | 3 |  | 0.06 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 3 |  | 0.06 | %
Total commercial |  |  |  | 38 |  | 0.07 | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | — | % |  |  |  |  |  |  |  | 39 |  | 0.07 | %
Commercial investor real estate mortgage |  |  |  | 100 |  | 1.53 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 100 |  | 1.53 | %
Total investor real estate |  |  |  | 100 |  | 1.14 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 100 |  | 1.14 | %
Residential first mortgage |  |  |  | 80 |  | 0.40 | % |  |  |  |  | 1 |  | 0.01 | % |  |  |  |  | 2 |  | 0.01 | % |  |  |  |  |  |  |  | 83 |  | 0.41 | %
Home equity lines |  |  |  | 1 |  | 0.01 | % |  |  |  |  | — |  | — | % |  |  |  |  | 2 |  | 0.07 | % |  |  |  |  |  |  |  | 3 |  | 0.08 | %
Home equity loans |  |  |  | 2 |  | 0.08 | % |  |  |  |  | — |  | — | % |  |  |  |  | 4 |  | 0.16 | % |  |  |  |  |  |  |  | 6 |  | 0.24 | %
Total consumer |  |  |  | 83 |  | 0.25 | % |  |  |  |  | 1 |  | — | % |  |  |  |  | 8 |  | 0.02 | % |  |  |  |  |  |  |  | 92 |  | 0.28 | %
|  |  |  | $ | 221 |  | 0.23 | % |  |  |  |  | $ | 1 |  | — | % |  |  |  |  | $ | 9 |  | 0.01 | % |  |  |  |  |  |  |  | $ | 231 |  | 0.24 | %
|  |  | Six Months Ended June 30, 2023
|  |  | Term Extension |  |  |  | Payment Deferral |  |  |  | Term Extension and Interest Rate Modification |  |  |  |  |  | Total
|  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  |  |  |  | $ | %(1)
|  |  |  | (Dollars in millions)
Commercial and industrial |  |  |  | $ | 61 |  | 0.12 | % |  |  |  |  | $ | 182 |  | 0.35 | % |  |  |  |  | $ | — |  | — | % |  |  |  |  |  |  |  | $ | 243 |  | 0.47 | %
Commercial real estate mortgage—owner-occupied |  |  |  | 10 |  | 0.21 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 10 |  | 0.21 | %
Commercial real estate construction—owner-occupied |  |  |  | 3 |  | 0.66 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 3 |  | 0.81 | %
Total commercial |  |  |  | 74 |  | 0.13 | % |  |  |  |  | 182 |  | 0.32 | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 256 |  | 0.45 | %
Commercial investor real estate mortgage |  |  |  | 63 |  | 0.98 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 63 |  | 0.98 | %
Total investor real estate |  |  |  | 63 |  | 0.73 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  |  |  |  | 63 |  | 0.73 | %
Residential first mortgage |  |  |  | 49 |  | 0.24 | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | 0.01 | % |  |  |  |  |  |  |  | 50 |  | 0.25 | %
Home equity lines |  |  |  | 1 |  | 0.02 | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | 0.04 | % |  |  |  |  |  |  |  | 2 |  | 0.06 | %
Home equity loans |  |  |  | 2 |  | 0.10 | % |  |  |  |  | — |  | — | % |  |  |  |  | 3 |  | 0.11 | % |  |  |  |  |  |  |  | 5 |  | 0.21 | %
Total consumer |  |  |  | 52 |  | 0.16 | % |  |  |  |  | — |  | — | % |  |  |  |  | 5 |  | 0.02 | % |  |  |  |  |  |  |  | 57 |  | 0.17 | %
Total |  |  |  | $ | 189 |  | 0.19 | % |  |  |  |  | $ | 182 |  | 0.18 | % |  |  |  |  | $ | 5 |  | 0.01 | % |  |  |  |  |  |  |  | $ | 376 |  | 0.38 | %
____ (1) Amounts calculated based upon whole dollar values. The end of period balance of unfunded commitments related to modifications to troubled borrowers at June 30, 2024 was $52 million and at December 31, 2023 was $106 million. The following tables present the financial impact of modifications to troubled borrowers during the three and six months ended June 30, 2024 and 2023 by portfolio segment, class of financing receivable, and the type of modification. The tables include new modifications to troubled borrowers, as well as renewals of existing modifications to troubled borrowers.
| Three Months Ended June 30, 2024
| Term Extension |  | Payment Deferral |  | Term Extension and Interest Rate Modification |  |
| Weighted-Average Term Extension |  | Weighted-Average Payment Deferral |  | Weighted-Average Term Extension |  | Weighted-Average Reduction in Interest Rate |  |  |  |
| (In years, except for percentage data)
Commercial and industrial | 0.92 |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial real estate mortgage—owner-occupied | 0.67 |  | — |  |  | — |  |  | — |  |  |  |  |
Residential first mortgage | 7 |  | 0.5 |  | 1 |  | less than 1% |  |  |  |
Home equity lines | — |  |  | — |  |  | 21 |  | 2 | % |  |  |  |
Home equity loans | 7 |  | — |  |  | 25 |  | 3 | % |  |  |  |
| Three Months Ended June 30, 2023 |  |  |
| Term Extension |  | Payment Deferral |  | Term Extension and Interest Rate Modification |  |  |
| Weighted-Average Term Extension |  | Weighted-Average Payment Deferral |  | Weighted-Average Term Extension |  | Weighted-Average Reduction in Interest Rate |  |  |
| (In years, except for percentage data) |  |  |
Commercial and industrial | 1 |  | 0.5 |  | — |  |  | — |  |  |  |
Commercial real estate mortgage—owner-occupied | 0.75 |  | — |  |  | — |  |  | — |  |  |  |
Commercial real estate construction—owner-occupied | 0.25 |  | — |  |  | — |  |  | — |  |  |  |
Commercial investor real estate mortgage | 0.67 |  | — |  |  | — |  |  | — |  |  |  |
Residential first mortgage | 5 |  | — |  |  | — |  |  | — |  |  |  |
Home equity lines | — |  |  | — |  |  | 20 |  | 1 | % |  |  |
Home equity loans | 18 |  | — |  |  | 14 |  | 3 | % |  |  |
| Six Months Ended June 30, 2024
| Term Extension |  | Payment Deferral |  | Term Extension and Interest Rate Modification |  |
| Weighted-Average Term Extension |  | Weighted-Average Payment Deferral |  | Weighted-Average Term Extension |  | Weighted-Average Reduction in Interest Rate |  |  |  |
| (In years, except for percentage data)
Commercial and industrial | 1.58 |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial real estate mortgage—owner-occupied | 0.67 |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial investor real estate mortgage | 0.58 | — |  | — |  |  | — |  |  | — |  |  |  |  |
Residential first mortgage | 7 |  | 0.5 |  | 6 |  | less than 1% |  |  |  |
Home equity lines | — |  |  | — |  |  | 21 |  | 2 | % |  |  |  |
Home equity loans | 9 |  | — |  |  | 25 |  | 2 | % |  |  |  |
| Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |
| Term Extension |  | Payment Deferral |  | Term Extension and Interest Rate Modification |  |  |  |  |  |  |  |  |
| Weighted-Average Term Extension |  | Weighted-Average Payment Deferral |  | Weighted-Average Term Extension |  | Weighted-Average Reduction in Interest Rate |  |  |  |  |  |  |  |  |
| (In years, except for percentage data) |  |  |  |  |  |  |  |  |
Commercial and industrial | 1 |  | 0.5 |  | — |  |  | — |  |  |  |  |  |  |  |  |  |
Commercial real estate mortgage—owner-occupied | 0.67 |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |
Commercial real estate construction—owner-occupied | 0.25 |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |
Commercial investor real estate mortgage | 0.67 |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |
Residential first mortgage | 5 |  | — |  |  | 8 |  | 1 | % |  |  |  |  |  |  |  |  |
Home equity lines | 19 |  | — |  |  | 18 |  | 1 | % |  |  |  |  |  |  |  |  |
Home equity loans | 15 |  | — |  |  | 16 |  | 2 | % |  |  |  |  |  |  |  |  |
In addition to the financial impacts in the table above, during the six months ended June 30, 2023 there were instances of commercial and industrial payment deferrals in which the amortization period was doubled to maturity. The following tables include the end of period balances of aging and non-accrual performance for modifications to troubled borrowers modified in the previous twelve-month period by portfolio segment and class as of June 30, 2024 and in the previous six-month period since adoption of the related accounting guidance by portfolio segment and class as of June 30, 2023. Refer to Note 1 and Note 5 in the Annual Report on Form 10-K for the year ended December 31, 2023 for additional information on the adoption of new accounting guidance.
| June 30, 2024
| Current |  | 30-89 DPD |  | 90+ DPD |  | Non-Performing Loans |  | Total |  |
| (In millions) |  |
Commercial and industrial | $ | 149 |  |  | $ | — |  |  | $ | — |  |  | $ | 74 |  |  | $ | 223 |  |  |
Commercial real estate mortgage—owner-occupied | 2 |  |  | — |  |  | — |  |  | 1 |  |  | 3 |  |  |
Total commercial | 151 |  |  | — |  |  | — |  |  | 75 |  |  | 226 |  |  |
Commercial investor real estate mortgage | 130 |  |  | — |  |  | — |  |  | 136 |  |  | 266 |  |  |
Total investor real estate | 130 |  |  | — |  |  | — |  |  | 136 |  |  | 266 |  |  |
Residential first mortgage | 99 |  |  | 16 |  |  | 10 |  |  | 4 |  |  | 129 |  |  |
Home equity lines | 4 |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  |
Home equity loans | 8 |  |  | 1 |  |  | — |  |  | 1 |  |  | 10 |  |  |
Total consumer | 111 |  |  | 17 |  |  | 10 |  |  | 5 |  |  | 143 |  |  |
| $ | 392 |  |  | $ | 17 |  |  | $ | 10 |  |  | $ | 216 |  |  | $ | 635 |  |  |
| June 30, 2023
| Current |  | 30-89 DPD |  | 90+ DPD |  | Non-Performing Loans |  | Total
| (In millions)
Commercial and industrial | $ | 198 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 43 |  |  | $ | 243 |
Commercial real estate mortgage—owner-occupied | 6 |  |  | — |  |  | — |  |  | 4 |  |  | 10 |
Commercial real estate construction—owner-occupied | 2 |  |  | — |  |  | — |  |  | 1 |  |  | 3 |
Total commercial | 206 |  |  | 2 |  |  | — |  |  | 48 |  |  | 256 |
Commercial investor real estate mortgage | 48 |  |  | — |  |  | — |  |  | 15 |  |  | 63 |
Total investor real estate | 48 |  |  | — |  |  | — |  |  | 15 |  |  | 63 |
Residential first mortgage | 44 |  |  | 4 |  |  | 1 |  |  | 1 |  |  | 50 |
Home equity lines | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 2 |
Home equity loans | 4 |  |  | — |  |  | — |  |  | 1 |  |  | 5 |
Total consumer | 49 |  |  | 4 |  |  | 1 |  |  | 3 |  |  | 57 |
| $ | 303 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 66 |  |  | $ | 376 |
For modifications to troubled borrowers, a subsequent payment default is defined in terms of delinquency, when a principal or interest payment is 90 days past due or classified as non-accrual status during the reporting period. As of June 30, 2024, subsequent defaults of the loans restructured as a modification to a troubled borrower during the three and six month periods ended June 30, 2024 totaled $56 million and $135 million, respectively. These amounts were immaterial for the three and six month periods ended June 30, 2023.

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