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Loans And The Allowance For Credit Losses | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Loans And The Allowance For Credit Losses | NOTE 5. ALLOWANCE FOR CREDIT LOSSES ALLOWANCE FOR CREDIT LOSSES Regions determines the appropriate level of the allowance on a quarterly basis. Refer to Note 1 for a description of the methodology. Reflected in the 2023 allowance is the impact of the sale of $284 million of consumer loans in a portfolio of third party relationship loans in the fourth quarter of 2023. In conjunction with the sale, the Company recognized a $35 million fair value mark recorded through charge-offs resulting in a net provision benefit of $27 million and a loss on sale of $8 million. Reflected in the 2022 allowance is the impact of the sale of $1.2 billion of unsecured consumer loans at the end of the third quarter of 2022 with an associated allowance of $94 million. In conjunction with the sale, the Company recognized a $63 million fair value mark recorded through charge-offs resulting in a net provision benefit of $31 million. ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES The following tables present analyses of the allowance for credit losses by portfolio segment for December 31, 2024, 2023, and 2022.
| 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 | 222 |  |  | 87 |  |  | 186 |  |  | 495 |
Loan losses: |  |  |  |  |  |  |
Charge-offs | (261) |  |  | (42) |  |  | (258) |  |  | (561) |
Recoveries | 60 |  |  | 3 |  |  | 40 |  |  | 103 |
Net loan losses | (201) |  |  | (39) |  |  | (218) |  |  | (458) |
Allowance for loan losses, December 31, 2024 | 743 |  | 240 |  | 630 |  | 1,613
Reserve for unfunded credit commitments, January 1, 2024 | 92 |  |  | 13 |  |  | 19 |  |  | 124 |
Provision for (benefit from) unfunded credit losses | (1) |  |  | (6) |  |  | (1) |  |  | (8) |
Reserve for unfunded credit commitments, December 31, 2024 | 91 |  |  | 7 |  |  | 18 |  |  | 116 |
Allowance for credit losses, December 31, 2024 | $ | 834 |  |  | $ | 247 |  |  | $ | 648 |  |  | $ | 1,729 |
| 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 | 205 |  |  | 74 |  |  | 268 |  |  | 547 |
Loan losses: |  |  |  |  |  |  |
Charge-offs | (197) |  |  | — |  |  | (293) |  |  | (490) |
Recoveries | 52 |  |  | — |  |  | 41 |  |  | 93 |
Net loan losses | (145) |  |  | — |  |  | (252) |  |  | (397) |
Allowance for loan losses, December 31, 2023 | 722 |  | 192 |  | 662 |  | 1,576
Reserve for unfunded credit commitments, January 1, 2023 | 72 |  |  | 21 |  |  | 25 |  |  | 118 |
Provision for (benefit from) unfunded credit losses | 20 |  |  | (8) |  |  | (6) |  |  | 6 |
Reserve for unfunded credit commitments, December 31, 2023 | 92 |  |  | 13 |  |  | 19 |  |  | 124 |
Allowance for credit losses, December 31, 2023 | $ | 814 |  |  | $ | 205 |  |  | $ | 681 |  |  | $ | 1,700 |
| 2022
| Commercial |  | Investor Real Estate |  | Consumer |  | Total
| (In millions)
Allowance for loan losses, January 1, 2022 | $ | 682 |  |  | $ | 79 |  |  | $ | 718 |  |  | $ | 1,479 |
Provision for loan losses | 40 |  |  | 45 |  |  | 163 |  |  | 248 |
Loan losses: |  |  |  |  |  |  |
Charge-offs | (107) |  |  | (5) |  |  | (263) |  |  | (375) |
Recoveries | 50 |  |  | 2 |  |  | 60 |  |  | 112 |
Net loan losses | (57) |  |  | (3) |  |  | (203) |  |  | (263) |
Allowance for loan losses, December 31, 2022 | 665 |  |  | 121 |  |  | 678 |  |  | 1,464 |
Reserve for unfunded credit commitments, January 1, 2022 | 58 |  |  | 8 |  |  | 29 |  |  | 95 |
Provision for (benefit from) unfunded credit losses | 14 |  |  | 13 |  |  | (4) |  |  | 23 |
Reserve for unfunded credit commitments, December 31, 2022 | 72 |  |  | 21 |  |  | 25 |  |  | 118 |
Allowance for credit losses, December 31, 2022 | $ | 737 |  |  | $ | 142 |  |  | $ | 703 |  |  | $ | 1,582 |
_____ (1) See Note 1 for additional information. PORTFOLIO SEGMENT RISK FACTORS The following describe the risk characteristics relevant to each of the portfolio segments. Commercial—The commercial portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Commercial also includes owner-occupied commercial real estate mortgage loans to operating businesses, which are loans for long-term financing on land and buildings, and are repaid by cash flow generated by business operations. Owner-occupied commercial real estate construction loans are made to commercial businesses for the development of land or construction of a building where the repayment is derived from revenues generated from the business of the borrower. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations, and is impacted by sensitivity to several other factors, such as market fluctuations in commodity prices. Investor Real Estate—Loans for real estate development are repaid through cash flow related to the operation, sale or refinance of the property. This portfolio segment includes extensions of credit to real estate developers or investors where repayment is dependent on the sale of real estate or income generated from the real estate collateral. A portion of Regions’ investor real estate portfolio segment consists of loans secured by residential product types (land, single-family and condominium loans) within Regions’ markets. Additionally, this category includes loans made to finance income-producing properties such as apartment buildings, office and industrial buildings, and retail shopping centers. Loans in this portfolio segment are particularly sensitive to the valuation of real estate. Consumer—The consumer portfolio segment includes residential first mortgage, home equity lines, home equity loans, consumer credit card, other consumer—exit portfolios and other consumer loans. Residential first mortgage loans represent loans to consumers to finance a residence. These loans are typically financed over a 15 to 30 year term and, in most cases, are extended to borrowers to finance their primary residence. Home equity lending includes both home equity loans and lines of credit. This type of lending, which is secured by a first or second mortgage on the borrower’s residence, allows customers to borrow against the equity in their home. Real estate market values as of the time the loan or line is secured directly affect the amount of credit extended and, in addition, changes in these values impact the depth of potential losses. Consumer credit card lending includes Regions branded consumer credit card accounts. Other consumer—exit portfolios includes lending initiatives through third parties consisting of loans made through automotive dealerships. Regions ceased originating new loans related to these businesses prior to 2020. Other consumer loans include other revolving consumer accounts, indirect and direct consumer loans, and overdrafts. Loans in this portfolio segment are sensitive to unemployment, inflation, and other key consumer economic measures. 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. These categories are utilized to develop the associated allowance for credit losses. •Pass—includes obligations where the probability of default is considered low; •Special Mention—includes obligations that have potential weakness that may, if not reversed or corrected, weaken the credit or inadequately protect the Company’s position at some future date. Obligations in this category may also be subject to economic or market conditions that may, in the future, have an adverse effect on debt service ability; •Substandard Accrual—includes obligations that exhibit a well-defined weakness that presently jeopardizes debt repayment, even though they are currently performing. These obligations are characterized by the distinct possibility that the Company may incur a loss in the future if these weaknesses are not corrected; •Non-accrual—includes obligations where management has determined that full payment of principal and interest is in doubt. Substandard accrual and non-accrual loans are often collectively referred to as “classified.” Special mention, substandard accrual, and non-accrual loans are often collectively referred to as “criticized and classified.” 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 December 31, 2024 and 2023 and gross charge-offs for the years ended December 31, 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.
| December 31, 2024
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Other (1) |  | Total
2024 | 2023 | 2022 | 2021 | 2020 | Prior
(In millions)
Commercial and industrial:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 8,285 |  | $ | 4,798 |  | $ | 6,295 |  | $ | 3,284 |  | $ | 1,526 |  | $ | 3,446 |  |  | $ | 19,165 |  |  | $ | — |  |  | $ | 114 |  |  | $ | 46,913 |
Special Mention | 59 |  | 309 |  | 173 |  | 61 |  | 3 |  | 41 |  |  | 460 |  |  | — |  |  | — |  |  | 1,106 |
Substandard Accrual | 81 |  | 179 |  | 255 |  | 79 |  | 32 |  | 84 |  |  | 534 |  |  | — |  |  | — |  |  | 1,244 |
Non-accrual | 48 |  | 90 |  | 124 |  | 37 |  | 5 |  | 6 |  |  | 98 |  |  | — |  |  | — |  |  | 408 |
Total commercial and industrial | $ | 8,473 |  | $ | 5,376 |  | $ | 6,847 |  | $ | 3,461 |  | $ | 1,566 |  | $ | 3,577 |  |  | $ | 20,257 |  |  | $ | — |  |  | $ | 114 |  |  | $ | 49,671 |
Commercial real estate mortgage—owner-occupied:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 794 |  | $ | 695 |  | $ | 796 |  | $ | 785 |  | $ | 522 |  | $ | 808 |  |  | $ | 87 |  |  | $ | — |  |  | $ | (5) |  |  | $ | 4,482 |
Special Mention | 5 |  | 21 |  | 57 |  | 33 |  | 9 |  | 57 |  |  | 2 |  |  | — |  |  | — |  |  | 184 |
Substandard Accrual | 4 |  | 6 |  | 37 |  | 40 |  | 15 |  | 33 |  |  | 3 |  |  | — |  |  | — |  |  | 138 |
Non-accrual | 2 |  | 2 |  | 5 |  | 14 |  | 4 |  | 9 |  |  | 1 |  |  | — |  |  | — |  |  | 37 |
Total commercial real estate mortgage—owner-occupied: | $ | 805 |  | $ | 724 |  | $ | 895 |  | $ | 872 |  | $ | 550 |  | $ | 907 |  |  | $ | 93 |  |  | $ | — |  |  | $ | (5) |  |  | $ | 4,841 |
Commercial real estate construction—owner-occupied:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 131 |  | $ | 54 |  | $ | 38 |  | $ | 30 |  | $ | 20 |  | $ | 37 |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 317 |
Special Mention | — |  | 6 |  | 1 |  | — |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |
Substandard Accrual | — |  | — |  | 3 |  | — |  | 1 |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Non-accrual | — |  | — |  | — |  | — |  | 1 |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Total commercial real estate construction—owner-occupied: | $ | 131 |  | $ | 60 |  | $ | 42 |  | $ | 30 |  | $ | 22 |  | $ | 41 |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 333 |
Total commercial | $ | 9,409 |  | $ | 6,160 |  | $ | 7,784 |  | $ | 4,363 |  | $ | 2,138 |  | $ | 4,525 |  |  | $ | 20,357 |  |  | $ | — |  |  | $ | 109 |  |  | $ | 54,845 |
Commercial investor real estate mortgage:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,598 |  | $ | 464 |  | $ | 1,753 |  | $ | 747 |  | $ | 322 |  | $ | 125 |  |  | $ | 314 |  |  | $ | — |  |  | $ | (2) |  |  | $ | 5,321 |
Special Mention | 173 |  | 12 |  | 209 |  | 30 |  | 11 |  | 1 |  |  | 4 |  |  | — |  |  | — |  |  | 440 |
Substandard Accrual | 76 |  | — |  | 131 |  | 39 |  | 28 |  | 2 |  |  | 107 |  |  | — |  |  | — |  |  | 383 |
Non-accrual | 167 |  | 93 |  | 113 |  | — |  | — |  | 50 |  |  | — |  |  | — |  |  | — |  |  | 423 |
Total commercial investor real estate mortgage | $ | 2,014 |  | $ | 569 |  | $ | 2,206 |  | $ | 816 |  | $ | 361 |  | $ | 178 |  |  | $ | 425 |  |  | $ | — |  |  | $ | (2) |  |  | $ | 6,567 |
Commercial investor real estate construction:
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 300 |  | $ | 380 |  | $ | 443 |  | $ | — |  | $ | — |  | $ | 2 |  |  | $ | 694 |  |  | $ | — |  |  | $ | (13) |  |  | $ | 1,806 |
Special Mention | — |  | 32 |  | 218 |  | — |  | — |  | — |  |  | 76 |  |  | — |  |  | — |  |  | 326 |
Substandard Accrual | — |  | — |  | — |  | — |  | — |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 11 |
Non-accrual | — |  | — |  | — |  | — |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial investor real estate construction | $ | 300 |  | $ | 412 |  | $ | 661 |  | $ | — |  | $ | — |  | $ | 2 |  |  | $ | 781 |  |  | $ | — |  |  | $ | (13) |  |  | $ | 2,143 |
Total investor real estate | $ | 2,314 |  | $ | 981 |  | $ | 2,867 |  | $ | 816 |  | $ | 361 |  | $ | 180 |  |  | $ | 1,206 |  |  | $ | — |  |  | $ | (15) |  |  | $ | 8,710 |
| December 31, 2024
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Other (1) |  | Total
2024 | 2023 | 2022 | 2021 | 2020 | Prior
(In millions)
Residential first mortgage:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 1,111 |  | $ | 1,967 |  | $ | 2,742 |  | $ | 4,055 |  | $ | 4,004 |  | $ | 2,730 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,609 |
681-720 | 107 |  | 185 |  | 253 |  | 289 |  | 222 |  | 305 |  |  | — |  |  | — |  |  | — |  |  | 1,361 |
620-680 | 56 |  | 87 |  | 141 |  | 136 |  | 99 |  | 283 |  |  | — |  |  | — |  |  | — |  |  | 802 |
Below 620 | 15 |  | 73 |  | 138 |  | 150 |  | 100 |  | 419 |  |  | — |  |  | — |  |  | — |  |  | 895 |
Data not available | 29 |  | 31 |  | 16 |  | 41 |  | 46 |  | 90 |  |  | 2 |  |  | — |  |  | 172 |  |  | 427 |
Total residential first mortgage | $ | 1,318 |  | $ | 2,343 |  | $ | 3,290 |  | $ | 4,671 |  | $ | 4,471 |  | $ | 3,827 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 172 |  |  | $ | 20,094 |
Home equity lines:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 2,341 |  |  | $ | 48 |  |  | $ | — |  |  | $ | 2,389 |
681-720 | — |  | — |  | — |  | — |  | — |  | — |  |  | 339 |  |  | 12 |  |  | — |  |  | 351 |
620-680 | — |  | — |  | — |  | — |  | — |  | — |  |  | 176 |  |  | 11 |  |  | — |  |  | 187 |
Below 620 | — |  | — |  | — |  | — |  | — |  | — |  |  | 96 |  |  | 7 |  |  | — |  |  | 103 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | 81 |  |  | 5 |  |  | 34 |  |  | 120 |
Total home equity lines | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 3,033 |  |  | $ | 83 |  |  | $ | 34 |  |  | $ | 3,150 |
Home equity loans:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 328 |  | $ | 263 |  | $ | 308 |  | $ | 329 |  | $ | 163 |  | $ | 472 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,863 |
681-720 | 51 |  | 40 |  | 49 |  | 39 |  | 16 |  | 56 |  |  | — |  |  | — |  |  | — |  |  | 251 |
620-680 | 18 |  | 19 |  | 23 |  | 21 |  | 9 |  | 48 |  |  | — |  |  | — |  |  | — |  |  | 138 |
Below 620 | 3 |  | 7 |  | 14 |  | 13 |  | 5 |  | 37 |  |  | — |  |  | — |  |  | — |  |  | 79 |
Data not available | 1 |  | 1 |  | 4 |  | 7 |  | 4 |  | 26 |  |  | — |  |  | — |  |  | 16 |  |  | 59 |
Total home equity loans | $ | 401 |  | $ | 330 |  | $ | 398 |  | $ | 409 |  | $ | 197 |  | $ | 639 |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | 2,390 |
Consumer credit card:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 847 |  |  | $ | — |  |  | $ | — |  |  | $ | 847 |
681-720 | — |  | — |  | — |  | — |  | — |  | — |  |  | 270 |  |  |  |  | — |  |  | 270 |
620-680 | — |  | — |  | — |  | — |  | — |  | — |  |  | 224 |  |  | — |  |  | — |  |  | 224 |
Below 620 | — |  | — |  | — |  | — |  | — |  | — |  |  | 108 |  |  | — |  |  | — |  |  | 108 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | 18 |  |  | — |  |  | (22) |  |  | (4) |
Total consumer credit card | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 1,467 |  |  | $ | — |  |  | $ | (22) |  |  | $ | 1,445 |
Other consumer—exit portfolios:
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |
681-720 | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
620-680 | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Below 620 | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Data not available | — |  | — |  | — |  | — |  | — |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (1) |
Total other consumer—exit portfolios | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 5 |  |  | $ | — |  |  | $ | — |  | $ | — |  | $ | (1) |  |  | $ | 4 |
Other consumer(2):
FICO scores: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above 720 | $ | 898 |  | $ | 1,016 |  | $ | 1,337 |  | $ | 417 |  | $ | 232 |  | $ | 211 |  |  | $ | 117 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,228 |
681-720 | 160 |  | 191 |  | 275 |  | 97 |  | 49 |  | 39 |  |  | 62 |  |  | — |  |  | — |  |  | 873 |
620-680 | 82 |  | 111 |  | 191 |  | 64 |  | 31 |  | 24 |  |  | 50 |  |  | — |  |  | — |  |  | 553 |
Below 620 | 16 |  | 47 |  | 117 |  | 43 |  | 19 |  | 16 |  |  | 31 |  |  | — |  |  | — |  |  | 289 |
Data not available | 71 |  | 4 |  | 10 |  | 6 |  | 5 |  | 155 |  |  | 2 |  |  | — |  |  | (107) |  |  | 146 |
Total other consumer | $ | 1,227 |  | $ | 1,369 |  | $ | 1,930 |  | $ | 627 |  | $ | 336 |  | $ | 445 |  |  | $ | 262 |  |  | $ | — |  |  | $ | (107) |  |  | $ | 6,089 |
Total consumer loans | $ | 2,946 |  | $ | 4,042 |  | $ | 5,618 |  | $ | 5,707 |  | $ | 5,004 |  | $ | 4,916 |  |  | $ | 4,764 |  |  | $ | 83 |  |  | $ | 92 |  |  | $ | 33,172 |
Total Loans | $ | 14,669 |  | $ | 11,183 |  | $ | 16,269 |  | $ | 10,886 |  | $ | 7,503 |  | $ | 9,621 |  |  | $ | 26,327 |  |  | $ | 83 |  |  | $ | 186 |  |  | $ | 96,727 |
| December 31, 2023
Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Amortizing |  | Other (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 |  | Other (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)Other consists of amounts that are not accounted for at the loan level. (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 years ended December 31, 2024 and 2023.
| 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term Loans |  | Revolving Loans |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | 2023 | 2022 | 2021 | 2020 | Prior |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 12 |  | $ | 59 |  | $ | 82 |  | $ | 15 |  | $ | 8 |  | $ | 11 |  |  | $ | 70 |  |  | $ | 257 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate mortgage—owner-occupied | — |  | — |  | — |  | 3 |  | — |  | 1 |  |  | — |  |  | 4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total commercial | 12 |  | 59 |  | 82 |  | 18 |  | 8 |  | 12 |  |  | 70 |  |  | 261 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial investor real estate mortgage | 25 |  | — |  | 6 |  | 5 |  | — |  | 6 |  |  | — |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total investor real estate | 25 |  | — |  | 6 |  | 5 |  | — |  | 6 |  |  | — |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential first mortgage | — |  | — |  | — |  | — |  | — |  | 2 |  |  | — |  |  | 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines | — |  | — |  | — |  | — |  | — |  | — |  |  | 3 |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer credit card | — |  | — |  | — |  | — |  | — |  | — |  |  | 63 |  |  | 63 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other consumer—exit portfolios | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other consumer(1) | 42 |  | 39 |  | 57 |  | 19 |  | 9 |  | 13 |  |  | 10 |  |  | 189 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total consumer | 42 |  | 39 |  | 57 |  | 19 |  | 9 |  | 16 |  |  | 76 |  |  | 258 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gross charge-offs | $ | 79 |  | $ | 98 |  | $ | 145 |  | $ | 42 |  | $ | 17 |  | $ | 34 |  |  | $ | 146 |  |  | $ | 561 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2023
Term Loans |  | Revolving Loans |  | Total
2023 | 2022 | 2021 | 2020 | 2019 | Prior
(In millions)
Commercial and industrial | $ | 12 |  | $ | 57 |  | $ | 55 |  | $ | 28 |  | $ | 15 |  | $ | 16 |  |  | $ | 12 |  |  | $ | 195 |
Commercial real estate mortgage—owner-occupied | 1 |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 2 |
Total commercial | 13 |  | 57 |  | 55 |  | 28 |  | 15 |  | 17 |  |  | 12 |  |  | 197 |
Residential first mortgage | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 1 |
Home equity lines | — |  | — |  | — |  | — |  | — |  | — |  |  | 3 |  |  | 3 |
Home equity loans | — |  | — |  | — |  | — |  | — |  | 1 |  |  | — |  |  | 1 |
Consumer credit card | — |  | — |  | — |  | — |  | — |  | — |  |  | 52 |  |  | 52 |
Other consumer—exit portfolios | — |  | — |  | — |  | — |  | 19 |  | 31 |  |  | — |  |  | 50 |
Other consumer(1) | 59 |  | 57 |  | 32 |  | 17 |  | 9 |  | 12 |  |  | — |  |  | 186 |
Total consumer | 59 |  | 57 |  | 32 |  | 17 |  | 28 |  | 45 |  |  | 55 |  |  | 293 |
Total gross charge-offs | $ | 72 |  | $ | 114 |  | $ | 87 |  | $ | 45 |  | $ | 43 |  | $ | 62 |  |  | $ | 67 |  |  | $ | 490 |
______ (1)Other consumer class includes overdraft gross charge-offs. The majority of overdraft gross charge-offs for the years ended December 31, 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 December 31, 2024 and 2023. Loans on non-accrual status with no related allowance totaled $119 million and $280 million and were comprised of commercial and investor real estate loans at December 31, 2024 and 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.
| 2024
| Accrual Loans |  |  |  |  |  |
| 30-59 DPD |  | 60-89 DPD |  | 90+ DPD |  | Total 30+ DPD |  | Total Accrual |  | Non-accrual |  | Total
| (In millions)
Commercial and industrial | $ | 51 |  |  | $ | 18 |  |  | $ | 7 |  |  | $ | 76 |  |  | $ | 49,263 |  |  | $ | 408 |  |  | $ | 49,671 |
Commercial real estate mortgage—owner-occupied | 4 |  |  | 1 |  |  | 1 |  |  | 6 |  |  | 4,804 |  |  | 37 |  |  | 4,841 |
Commercial real estate construction—owner-occupied | — |  |  | — |  |  | — |  |  | — |  |  | 328 |  |  | 5 |  |  | 333 |
Total commercial | 55 |  |  | 19 |  |  | 8 |  |  | 82 |  |  | 54,395 |  |  | 450 |  |  | 54,845 |
Commercial investor real estate mortgage | — |  |  | — |  |  | — |  |  | — |  |  | 6,144 |  |  | 423 |  |  | 6,567 |
Commercial investor real estate construction | — |  |  | — |  |  | — |  |  | — |  |  | 2,143 |  |  | — |  |  | 2,143 |
Total investor real estate | — |  |  | — |  |  | — |  |  | — |  |  | 8,287 |  |  | 423 |  |  | 8,710 |
Residential first mortgage | 139 |  |  | 78 |  |  | 143 |  |  | 360 |  |  | 20,071 |  |  | 23 |  |  | 20,094 |
Home equity lines | 15 |  |  | 9 |  |  | 16 |  |  | 40 |  |  | 3,124 |  |  | 26 |  |  | 3,150 |
Home equity loans | 11 |  |  | 6 |  |  | 7 |  |  | 24 |  |  | 2,384 |  |  | 6 |  |  | 2,390 |
Consumer credit card | 11 |  |  | 9 |  |  | 20 |  |  | 40 |  |  | 1,445 |  |  | — |  |  | 1,445 |
Other consumer—exit portfolios | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 4 |  |  | — |  |  | 4 |
Other consumer | 50 |  |  | 26 |  |  | 27 |  |  | 103 |  |  | 6,089 |  |  | — |  |  | 6,089 |
Total consumer | 227 |  |  | 128 |  |  | 213 |  |  | 568 |  |  | 33,117 |  |  | 55 |  |  | 33,172 |
| $ | 282 |  |  | $ | 147 |  |  | $ | 221 |  |  | $ | 650 |  |  | $ | 95,799 |  |  | $ | 928 |  |  | $ | 96,727 |
| 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 December 31, 2024 and 2023, the Company had collateral-dependent commercial loans of $264 million and $220 million, respectively. At December 31, 2024 and 2023, the Company had collateral-dependent investor real estate loans of $323 million and $92 million, respectively. The collateral for commercial and investor real estate loans generally consists of all business assets including real estate, receivables and equipment. At December 31, 2024 and 2023, the Company had collateral-dependent residential mortgage and home equity loans and lines totaling $115 million and $93 million, respectively. The collateral for these loans are secured by residential real estate. Refer to Note 1 for additional details for the criteria of collateral dependent loans. 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 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 in the years ended December 31, 2024 and 2023.
| 2024
| Interest Rate Reduction |  | Term Extension |  |  |  | Payment Deferral |  |  |  | Term Extension and Interest Rate Reduction |  |  |  | Other |  | Total
| $ | %(1) |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  | $ | %(1)
| (Dollars in millions)
Commercial and industrial | $ | — |  | — | % |  | $ | 46 |  | 0.09 | % |  |  |  |  | $ | — |  | — | % |  |  |  |  | $ | 1 |  | — | % |  |  |  |  | $ | 3 |  | 0.01 | % |  | $ | 50 |  | 0.10 | %
Commercial real estate mortgage—owner-occupied | — |  | — | % |  | 3 |  | 0.05 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  | 3 |  | 0.05 | %
Total commercial | — |  | — | % |  | 49 |  | 0.09 | % |  |  |  |  | — |  | — | % |  |  |  |  | 1 |  | — | % |  |  |  |  | 3 |  | 0.01 | % |  | 53 |  | 0.10 | %
Commercial investor real estate mortgage | 34 |  | 0.52 | % |  | 111 |  | 1.69 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  | 27 |  | 0.42 | % |  | 172 |  | 2.62 | %
Total investor real estate | 34 |  | 0.39 | % |  | 111 |  | 1.28 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  |  |  |  | 27 |  | 0.31 | % |  | 172 |  | 1.98 | %
Residential first mortgage | — |  | — | % |  | 156 |  | 0.78 | % |  |  |  |  | 2 |  | 0.01 | % |  |  |  |  | 6 |  | 0.03 | % |  |  |  |  | — |  | — | % |  | 164 |  | 0.82 | %
Home equity lines | — |  | — | % |  | 1 |  | 0.02 | % |  |  |  |  | — |  | — | % |  |  |  |  | 9 |  | 0.29 | % |  |  |  |  | — |  | — | % |  | 10 |  | 0.30 | %
Home equity loans | — |  | — | % |  | 4 |  | 0.17 | % |  |  |  |  | — |  | — | % |  |  |  |  | 8 |  | 0.34 | % |  |  |  |  | — |  | — | % |  | 12 |  | 0.51 | %
Total consumer | — |  | — | % |  | 161 |  | 0.49 | % |  |  |  |  | 2 |  | 0.01 | % |  |  |  |  | 23 |  | 0.07 | % |  |  |  |  | — |  | — | % |  | 186 |  | 0.56 | %
| $ | 34 |  | 0.04 | % |  | $ | 321 |  | 0.33 | % |  |  |  |  | $ | 2 |  | — | % |  |  |  |  | $ | 24 |  | 0.02 | % |  |  |  |  | $ | 30 |  | 0.03 | % |  | $ | 411 |  | 0.43 | %
|  |  | 2023
|  |  | Term Extension |  |  |  | Payment Deferral |  |  |  | Term Extension and Interest Rate Reduction |  | Term Extension and Payment Deferral |  |  |  | Total
|  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  |  |  |  | $ | %(1) |  | $ | %(1) |  |  |  |  | $ | %(1)
|  |  |  | (Dollars in millions)
Commercial and industrial |  |  |  | $ | 379 |  | 0.75 | % |  |  |  |  | $ | 139 |  | 0.27 | % |  |  |  |  | $ | — |  | — | % |  | $ | 37 |  | 0.07 | % |  |  |  |  | $ | 555 |  | 1.09 | %
Commercial real estate mortgage—owner-occupied |  |  |  | 3 |  | 0.05 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  | — |  | — | % |  |  |  |  | 3 |  | 0.06 | %
Commercial real estate construction—owner-occupied |  |  |  | 2 |  | 0.67 | % |  |  |  |  | 1 |  | 0.15 | % |  |  |  |  | — |  | — | % |  | — |  | — | % |  |  |  |  | 3 |  | 0.81 | %
Total commercial |  |  |  | 384 |  | 0.68 | % |  |  |  |  | 140 |  | 0.25 | % |  |  |  |  | — |  | — | % |  | 37 |  | 0.07 | % |  |  |  |  | 561 |  | 1.00 | %
Commercial investor real estate mortgage |  |  |  | 213 |  | 3.23 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  | — |  | — | % |  |  |  |  | 213 |  | 3.23 | %
Total investor real estate |  |  |  | 213 |  | 2.41 | % |  |  |  |  | — |  | — | % |  |  |  |  | — |  | — | % |  | — |  | — | % |  |  |  |  | 213 |  | 2.41 | %
Residential first mortgage |  |  |  | 94 |  | 0.46 | % |  |  |  |  | 2 |  | 0.01 | % |  |  |  |  | 3 |  | 0.02 | % |  | — |  | — | % |  |  |  |  | 99 |  | 0.49 | %
Home equity lines |  |  |  | 1 |  | 0.02 | % |  |  |  |  | — |  | — | % |  |  |  |  | 4 |  | 0.11 | % |  | — |  | — | % |  |  |  |  | 5 |  | 0.13 | %
Home equity loans |  |  |  | 4 |  | 0.17 | % |  |  |  |  | — |  | — | % |  |  |  |  | 5 |  | 0.18 | % |  | — |  | — | % |  |  |  |  | 9 |  | 0.35 | %
Total consumer |  |  |  | 99 |  | 0.29 | % |  |  |  |  | 2 |  | 0.01 | % |  |  |  |  | 12 |  | 0.03 | % |  | — |  | — | % |  |  |  |  | 113 |  | 0.34 | %
Total |  |  |  | $ | 696 |  | 0.71 | % |  |  |  |  | $ | 142 |  | 0.14 | % |  |  |  |  | $ | 12 |  | 0.01 | % |  | $ | 37 |  | 0.04 | % |  |  |  |  | $ | 887 |  | 0.90 | %
____ (1) Amounts calculated based upon whole dollar values. The end of period balance of unfunded commitments related to modifications to troubled borrowers was $71 million and $106 million at December 31, 2024 and December 31, 2023, respectively. The following tables present the financial impact of modifications to troubled borrowers during years ended December 31, 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.
| 2024
| Interest Rate Reduction |  | Term Extension |  | Payment Deferral |  | Term Extension and Interest Rate Reduction |  |
| Weighted-Average Reduction in Interest Rate |  | 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 | — |  |  | 1.92 |  | — |  |  | 2.08 |  | 1 | % |  |  |  |
Commercial real estate mortgage—owner-occupied | — |  |  | 3.58 |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial investor real estate mortgage | less than 1% |  | 0.83 |  | — |  |  | — |  |  | — |  |  |  |  |
Residential first mortgage | — |  |  | 7 |  | 0.67 |  | 5 |  | less than 1% |  |  |  |
Home equity lines | — |  |  | — |  |  | — |  |  | 23 |  | 2 | % |  |  |  |
Home equity loans | — |  |  | 14 |  | — |  |  | 24 |  | 3 | % |  |  |  |
| 2023 |  |  |  |  |  |
| Term Extension |  | Payment Deferral |  | Term Extension and Interest Rate Reduction |  | Term Extension and Payment Deferral |  |  |  |  |  |
| Weighted-Average Term Extension |  | Weighted-Average Payment Deferral |  | Weighted-Average Term Extension |  | Weighted-Average Reduction in Interest Rate |  | Weighted-Average Term Extension |  | Weighted-Average Payment Deferral |  |  |  |  |  |
| (In years, except for percentage data) |  |  |  |  |  |
Commercial and industrial | 1 |  | 0.5 |  | — |  |  | — |  |  | 3 |  | 3 |  |  |  |  |  |
Commercial real estate mortgage—owner-occupied | 1.5 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Commercial real estate construction—owner-occupied | 0.25 |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |
Commercial investor real estate mortgage | 0.83 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Residential first mortgage | 6 |  | 0.83 |  | 7 |  | 1 | % |  | — |  |  | — |  |  |  |  |  |  |
Home equity lines | 18 |  | — |  |  | 21 |  | 1 | % |  | — |  |  | — |  |  |  |  |  |  |
Home equity loans | 14 |  | — |  |  | 17 |  | 2 | % |  | — |  |  | — |  |  |  |  |  |  |
In addition to the financial impacts in the table above, during the year ended December 31, 2024, the Company had a commercial investor real estate mortgage loan and a commercial and industrial loan modified from amortizing to an interest- only structure. Also during the twelve months ended December 31, 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 December 31, 2024 and 2023.
| 2024
| Current |  | 30-89 DPD |  | 90+ DPD |  | Non-Performing Loans |  | Total |  |
| (In millions) |  |
Commercial and industrial | $ | 34 |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | 50 |  |  |
Commercial real estate mortgage—owner-occupied | 2 |  |  | — |  |  | — |  |  | 1 |  |  | 3 |  |  |
Total commercial | 36 |  |  | — |  |  | — |  |  | 17 |  |  | 53 |  |  |
Commercial investor real estate mortgage | 66 |  |  | — |  |  | — |  |  | 106 |  |  | 172 |  |  |
Total investor real estate | 66 |  |  | — |  |  | — |  |  | 106 |  |  | 172 |  |  |
Residential first mortgage | 113 |  |  | 31 |  |  | 13 |  |  | 7 |  |  | 164 |  |  |
Home equity lines | 9 |  |  | — |  |  | — |  |  | 1 |  |  | 10 |  |  |
Home equity loans | 9 |  |  | 1 |  |  | — |  |  | 2 |  |  | 12 |  |  |
Total consumer | 131 |  |  | 32 |  |  | 13 |  |  | 10 |  |  | 186 |  |  |
| $ | 233 |  |  | $ | 32 |  |  | $ | 13 |  |  | $ | 133 |  |  | $ | 411 |  |  |
| 2023
| Current |  | 30-89 DPD |  | 90+ DPD |  | Non-Performing Loans |  | Total
| (In millions)
Commercial and industrial | $ | 355 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 195 |  |  | $ | 555 |
Commercial real estate mortgage—owner-occupied | 1 |  |  | — |  |  | — |  |  | 2 |  |  | 3 |
Commercial real estate construction—owner-occupied | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Total commercial | 356 |  |  | — |  |  | 5 |  |  | 200 |  |  | 561 |
Commercial investor real estate mortgage | 151 |  |  | — |  |  | — |  |  | 62 |  |  | 213 |
Total investor real estate | 151 |  |  | — |  |  | — |  |  | 62 |  |  | 213 |
Residential first mortgage | 75 |  |  | 16 |  |  | 5 |  |  | 3 |  |  | 99 |
Home equity lines | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Home equity loans | 6 |  |  | 1 |  |  | — |  |  | 2 |  |  | 9 |
Total consumer | 86 |  |  | 17 |  |  | 5 |  |  | 5 |  |  | 113 |
| $ | 593 |  |  | $ | 17 |  |  | $ | 10 |  |  | $ | 267 |  |  | $ | 887 |
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. Subsequent defaults of the loans restructured as a modification to a troubled borrower during the years ended December 31, 2024 and 2023 totaled $257 million and $116 million, respectively.

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