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Loans and Leases | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Loans and Leases | Loans and Leases The Bancorp diversifies its loan and lease portfolio by offering a variety of loan and lease products with various payment terms and rate structures. The Bancorp’s commercial loan and lease portfolio consists of lending to various industry types. Management periodically reviews the performance of its loan and lease products to evaluate whether they are performing within acceptable interest rate and credit risk levels and changes are made to underwriting policies and procedures as needed. The Bancorp maintains an allowance to absorb loan and lease losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. For further information on credit quality and the ALLL, refer to Note 6. The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of:
($ in millions) | March 31, 2025 | December 31, 2024
Loans and leases held for sale: |  |
Commercial and industrial loans | $ | 28 |  | 15 |
Commercial mortgage loans | — |  | 22 |
Commercial construction loans | — |  | 29 |
Residential mortgage loans | 445 |  | 574 |
Total loans and leases held for sale | $ | 473 |  | 640 |
Portfolio loans and leases: |  |
Commercial and industrial loans | $ | 53,700 |  | 52,271 |
Commercial mortgage loans | 12,357 |  | 12,246 |
Commercial construction loans | 5,952 |  | 5,588 |
Commercial leases | 3,128 |  | 3,188 |
Total commercial loans and leases | $ | 75,137 |  | 73,293 |
Residential mortgage loans | $ | 17,581 |  | 17,543 |
Home equity | 4,265 |  | 4,188 |
Indirect secured consumer loans | 16,804 |  | 16,313 |
Credit card | 1,660 |  | 1,734 |
Solar energy installation loans | 4,262 |  | 4,202 |
Other consumer loans | 2,482 |  | 2,518 |
Total consumer loans | $ | 47,054 |  | 46,498 |
Total portfolio loans and leases | $ | 122,191 |  | 119,791 |
Portfolio loans and leases are recorded net of unearned income, which totaled $383 million and $380 million as of March 31, 2025 and December 31, 2024, respectively. The amortized cost basis of loans and leases excludes accrued interest receivable of $568 million and $566 million at March 31, 2025 and December 31, 2024, respectively, which is presented as a component of other assets in the Condensed Consolidated Balance Sheets. Additionally, portfolio loans and leases are recorded net of unamortized premiums and discounts, deferred direct loan origination fees and costs associated with loans and valuation adjustments associated with loans measured at fair value. These items totaled a net discount of $279 million and $324 million as of March 31, 2025 and December 31, 2024, respectively, of which $898 million and $901 million of net discount was related to solar energy installation loans, respectively. The Bancorp’s FHLB and FRB borrowings are primarily secured by loans. The Bancorp had loans of $14.8 billion and $15.1 billion as of March 31, 2025 and December 31, 2024, respectively, pledged to the FHLB, and loans of $58.3 billion and $55.3 billion as of March 31, 2025 and December 31, 2024, respectively, pledged to the FRB. The following table presents a summary of net charge-offs:
| For the three months ended March 31, |
($ in millions) | 2025 | 2024 |  |
Commercial and industrial loans | $ | 52 |  | 35 |  |  |
Commercial mortgage loans | 10 |  | — |  |  |
Commercial leases | 2 |  | — |  |  |
Indirect secured consumer loans | 21 |  | 24 |  |  |
Credit card | 17 |  | 18 |  |  |
Solar energy installation loans | 18 |  | 12 |  |  |
Other consumer loans | 16 |  | 21 |  |  |
Total net charge-offs | $ | 136 |  | 110 |  |  |
The following table presents the income recognized related to leases where the Bancorp is the lessor:
|  | For the three months ended March 31, |
($ in millions) | Condensed Consolidated Statements of Income Caption | 2025 | 2024 |  |
Direct financing leases | Interest and fees on loans and leases | $ | 10 |  | 9 |  |  |
Sales-type leases | Interest and fees on loans and leases | 26 |  | 18 |  |  |
Operating leases | Commercial banking revenue | 20 |  | 28 |  |  |

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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