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Credit Quality And Allowance For Credit Losses
 3 Months Ended
Mar. 31, 2025
Credit Loss [Abstract]  
Credit Quality And Allowance For Credit Losses CREDIT QUALITY AND ALLOWANCE FOR CREDIT LOSSES
The following table presents an aging analysis of the amortized cost basis of loans.
Loans Past Due and Still Accruing   
(in millions)30-59
Days		60-89 
Days		90 Days
or More		TotalNonaccrual
Loans		Current
Loans		Total 
Loans
March 31, 2025
Business loans:
Commercial$12 $2 $6 $20 $108 $25,673 $25,801 
Real estate construction:
Commercial Real Estate business line (a)— — — — 20 3,051 3,071 
Other business lines (b)— — — — — 322 322 
Total real estate construction— — — — 20 3,373 3,393 
Commercial mortgage:
Commercial Real Estate business line (a)32 20 — 52 45 6,227 6,324 
Other business lines (b)16 9 6 31 65 8,368 8,464 
Total commercial mortgage48 29 6 83 110 14,595 14,788 
Lease financing15 — — 15 1 718 734 
International— — — — — 1,036 1,036 
Total business loans75 31 12 118 239 45,395 45,752 
Retail loans:
Residential mortgage11 8 — 19 35 1,862 1,916 
Consumer:
Home equity13 2 — 15 27 1,744 1,786 
Other consumer— — — — — 458 458 
Total consumer13 2 — 15 27 2,202 2,244 
Total retail loans24 10 — 34 62 4,064 4,160 
Total loans$99 $41 $12 $152 $301 $49,459 $49,912 
December 31, 2024
Business loans:
Commercial$50 $16 $13 $79 $125 $26,288 $26,492 
Real estate construction:
Commercial Real Estate business line (a)— — — — — 3,358 3,358 
Other business lines (b)— — — — — 322 322 
Total real estate construction— — — — — 3,680 3,680 
Commercial mortgage:
Commercial Real Estate business line (a)75 8 — 83 49 5,912 6,044 
Other business lines (b)11 7 31 49 69 8,331 8,449 
Total commercial mortgage86 15 31 132 118 14,243 14,493 
Lease financing12 — — 12 1 709 722 
International— — — — — 952 952 
Total business loans148 31 44 223 244 45,872 46,339 
Retail loans:
Residential mortgage5 5 — 10 37 1,882 1,929 
Consumer:
Home equity11 3 — 14 27 1,761 1,802 
Other consumer16 — — 16 — 453 469 
Total consumer27 3 — 30 27 2,214 2,271 
Total retail loans32 8 — 40 64 4,096 4,200 
Total loans$180 $39 $44 $263 $308 $49,968 $50,539 
(a)Primarily loans to real estate developers.
(b)Primarily loans secured by owner-occupied real estate.
The following table presents loans by credit quality indicator and vintage year. Credit quality indicator is based on internal risk ratings assigned to each business loan at the time of approval and subjected to subsequent reviews, generally at least annually, and to pools of retail loans with similar risk characteristics. Vintage year is the year of origination or major modification.
March 31, 2025
Vintage Year
(in millions)20252024202320222021PriorRevolversRevolvers Converted to TermTotal
Business loans:
Commercial
    Pass (a)$704 $3,040 $1,999 $1,758 $995 $1,431 $14,571 $14 $24,512 
    Criticized (b)7 83 176 173 163 78 606 3 1,289 
Total commercial711 3,123 2,175 1,931 1,158 1,509 15,177 17 25,801 
Commercial gross charge-offs— 2 — 8 1 2 4 — 17 
Real estate construction
    Pass (a)24 170 675 1,743 438 12 214 — 3,276 
    Criticized (b)— — 16 94 7 — — — 117 
Total real estate construction24 170 691 1,837 445 12 214 — 3,393 
Real estate construction gross charge-offs— — — 7 — — — — 7 
Commercial mortgage
    Pass (a)349 1,451 1,524 3,398 2,608 3,612 775 — 13,717 
    Criticized (b)— 102 179 396 110 275 9 — 1,071 
Total commercial mortgage349 1,553 1,703 3,794 2,718 3,887 784 — 14,788 
Commercial mortgage gross charge-offs— — — 7 — — — — 7 
Lease financing
    Pass (a)24 261 236 35 70 99 — — 725 
    Criticized (b)— 3 1 1 3 1 — — 9 
Total lease financing24 264 237 36 73 100 — — 734 
International
    Pass (a)238 109 110 100 54 40 368 — 1,019 
    Criticized (b)4 11 — — — — 2 — 17 
Total international242 120 110 100 54 40 370 — 1,036 
Total business loans1,350 5,230 4,916 7,698 4,448 5,548 16,545 17 45,752 
Retail loans:
Residential mortgage
    Pass (a)30 187 218 275 344 826 — — 1,880 
    Criticized (b)3 — 1 1 4 27 — — 36 
Total residential mortgage33 187 219 276 348 853 — — 1,916 
Consumer:
Home equity
    Pass (a)— — — — — 4 1,667 83 1,754 
    Criticized (b)— — — — — — 27 5 32 
Total home equity— — — — — 4 1,694 88 1,786 
Other consumer
    Pass (a)33 28 10 10 5 45 325 — 456 
    Criticized (b)— — — 2 — — — — 2 
Total other consumer33 28 10 12 5 45 325 — 458 
Other consumer gross charge-offs— — — — — 1 — — 1 
Total consumer33 28 10 12 5 49 2,019 88 2,244 
Total retail loans66 215 229 288 353 902 2,019 88 4,160 
Total loans$1,416 $5,445 $5,145 $7,986 $4,801 $6,450 $18,564 $105 $49,912 
Table continues on the following page.
December 31, 2024Vintage Year
20242023202220212020PriorRevolversRevolvers Converted to TermTotal
Business loans:
Commercial
    Pass (a)$3,313 $2,129 $1,856 $1,127 $358 $1,192 $15,173 $15 $25,163 
    Criticized (b)90 160 179 185 33 59 621 2 1,329 
Total commercial3,403 2,289 2,035 1,312 391 1,251 15,794 17 26,492 
Commercial gross charge-offs1 1 9 29 9 12 10 1 72 
Real estate construction
    Pass (a)137 703 1,987 550 19 23 223 — 3,642 
    Criticized (b)— — 36 — — 2 — — 38 
Total real estate construction137 703 2,023 550 19 25 223 — 3,680 
Commercial mortgage
    Pass (a)1,423 1,574 3,339 2,576 1,301 2,414 793 — 13,420 
    Criticized (b)105 187 350 102 111 208 10 — 1,073 
Total commercial mortgage1,528 1,761 3,689 2,678 1,412 2,622 803 — 14,493 
Commercial mortgage gross charge-offs— — 11 — — 5 — — 16 
Lease financing
    Pass (a)262 226 38 80 30 80 — — 716 
    Criticized (b)3 1 1 — — 1 — — 6 
Total lease financing265 227 39 80 30 81 — — 722 
Lease financing gross charge-offs1 — 3 — — — — — 4 
International
    Pass (a)237 112 142 60 19 27 347 — 944 
    Criticized (b)7 — — — — — 1 — 8 
Total international 244 112 142 60 19 27 348 — 952 
International gross charge-offs1 — — — — — — — 1 
Total business loans5,577 5,092 7,928 4,680 1,871 4,006 17,168 17 46,339 
Retail loans:
Residential mortgage
    Pass (a)181 236 274 349 415 434 — — 1,889 
    Criticized (b)5 1 4 2 4 24 — — 40 
Total residential mortgage186 237 278 351 419 458 — — 1,929 
Consumer:
Home equity
    Pass (a)— — — — — 5 1,681 82 1,768 
    Criticized (b)— — — — — — 28 6 34 
Total home equity— — — — — 5 1,709 88 1,802 
Other consumer
    Pass (a)30 10 28 7 6 41 345 — 467 
    Criticized (b)— — 2 — — — — — 2 
Total other consumer30 10 30 7 6 41 345 — 469 
Other consumer gross charge-offs1 — — — — 1 — — 2 
Total consumer30 10 30 7 6 46 2,054 88 2,271 
Total retail loans216 247 308 358 425 504 2,054 88 4,200 
Total loans$5,793 $5,339 $8,236 $5,038 $2,296 $4,510 $19,222 $105 $50,539 
(a)Includes all loans not included in the categories of special mention, substandard or nonaccrual.
(b)Includes loans with an internal rating of special mention, substandard loans for which the accrual of interest has not been discontinued and nonaccrual loans. Special mention loans have potential credit weaknesses that deserve management’s close attention, such as loans to borrowers who may be experiencing financial difficulties that may result in deterioration of repayment prospects from the borrower at some future date. Accruing substandard loans have a well-defined weakness, or weaknesses, such as loans to borrowers who may be experiencing losses from operations or inadequate liquidity of a degree and duration that jeopardizes the orderly repayment of the loan. Substandard loans are also distinguished by the distinct possibility of loss in the future if these weaknesses are not corrected. Nonaccrual loans are loans for which the accrual of interest has been discontinued. For further information regarding nonaccrual loans, refer to the Nonperforming Assets subheading in Note 1 - Basis of Presentation and Accounting Policies on page F-52 in the Corporation's 2024 Annual Report. These categories are generally consistent with the "special mention" and "substandard" categories as defined by regulatory authorities. A minority of nonaccrual loans are consistent with the "doubtful" category.
Loan interest receivable totaled $255 million and $266 million at March 31, 2025 and December 31, 2024, respectively, and was included in accrued income and other assets on the Consolidated Balance Sheets.
Allowance for Credit Losses
The following table details the changes in the allowance for credit losses.
 20252024
(in millions)Business LoansRetail LoansTotalBusiness LoansRetail LoansTotal
Three Months Ended March 31
Balance at beginning of period:
Allowance for loan losses$625 $65 $690 $620 $68 $688 
Allowance for credit losses on lending-related commitments28 7 35 31 9 40 
Allowance for credit losses653 72 725 651 77 728 
Loan charge-offs(31)(1)(32)(20)(1)(21)
Recoveries on loans previously charged-off6 — 6 6 1 7 
Net loan charge-offs(25)(1)(26)(14)— (14)
Provision for credit losses:
Provision for loan losses34 (15)19 20 (3)17 
Provision for credit losses on lending-related commitments(3)4 1 (3)— (3)
Provision for credit losses31 (11)20 17 (3)14 
Balance at end of period:
Allowance for loan losses634 49 683 626 65 691 
Allowance for credit losses on lending-related commitments25 11 36 28 9 37 
Allowance for credit losses$659 $60 $719 $654 $74 $728 
Allowance for loan losses as a percentage of total loans1.38 %1.19 %1.37 %1.34 %1.59 %1.36 %
Allowance for credit losses as a percentage of total loans1.44 1.46 1.44 1.40 1.82 1.43 
Nonaccrual Loans
The following table presents additional information regarding nonaccrual loans. Interest income of $1 million and $2 million was recognized on nonaccrual loans for the three-month periods ended March 31, 2025 and 2024, respectively.
(in millions)Nonaccrual Loans with No Related AllowanceNonaccrual Loans with Related AllowanceTotal Nonaccrual Loans
March 31, 2025
Business loans:
Commercial$15 $93 $108 
Real estate construction:
Commercial Real Estate business line (a)— 20 20 
Total real estate construction— 20 20 
Commercial mortgage:
Commercial Real Estate business line (a)— 45 45 
Other business lines (b)3 62 65 
Total commercial mortgage3 107 110 
Lease financing— 1 1 
Total business loans18 221 239 
Retail loans:
Residential mortgage35 — 35 
Consumer:
Home equity27 — 27 
Total retail loans62 — 62 
Total nonaccrual loans$80 $221 $301 
December 31, 2024
Business loans:
Commercial$9 $116 $125 
Commercial mortgage:
Commercial Real Estate business line (a)— 49 49 
Other business lines (b)7 62 69 
Total commercial mortgage7 111 118 
Lease financing
— 1 1 
Total business loans16 228 244 
Retail loans:
Residential mortgage37 — 37 
Consumer:
Home equity27 — 27 
Total consumer27 — 27 
Total retail loans64 — 64 
Total nonaccrual loans$80 $228 $308 
(a)Primarily loans to real estate developers.
(b)Primarily loans secured by owner-occupied real estate.
Foreclosed Properties
Foreclosed properties were insignificant at both March 31, 2025 and December 31, 2024. Retail loans secured by residential real estate properties in process of foreclosure included in nonaccrual loans were $3 million at March 31, 2025 and $4 million at December 31, 2024.
Loan Modifications Made to Borrowers Experiencing Financial Difficulty
As part of its loss mitigation efforts, the Corporation may modify loans to borrowers experiencing financial difficulty in a manner resulting in an interest rate reduction, other-than-insignificant payment delay, a term extension, principal forgiveness or a combination thereof (collectively referred to as Financially Distressed Modifications, or FDMs).
The following table displays the amortized cost basis at March 31, 2025 and 2024 of FDMs that were restructured during the three-month periods ended March 31, 2025 and 2024 by type of modification.
(in millions)Term Extension (a)Interest Rate ReductionCombinations (b)TotalPercent of Total Class
Three Months Ended March 31, 2025
Business loans:
Commercial$44 $— $— $44 0.17 %
Commercial mortgage:
Commercial Real Estate business line (c)34 — — 34 0.54 
Other business lines (d)
10 — — 10 0.12 
Total commercial mortgage44 — — 44 0.30 
Total business loans
88 — — 88 0.19 
Retail loans:
Consumer:
Home equity— 1 — 1 0.07 
Total consumer— 1 — 1 0.06 
Total retail loans
— 1 — 1 0.03 
Total loans$88 $1 $— $89 0.18 %
Three Months Ended March 31, 2024
Business loans:
Commercial$108 $— $10 $118 0.45 %
Commercial mortgage:
Other business lines (d)
5 — — 5 0.06 
Total commercial mortgage5 — — 5 0.04 
International1 — — 1 0.13 
Total business loans114 — 10 124 0.27 
Retail loans:
Consumer:
Home equity1 1 1 3 0.12 
Total consumer1 1 1 3 0.10 
Total retail loans
1 1 1 3 0.05 
Total loans$115 $1 $11 $127 0.25 %
(a)Represents loan balances where terms were extended or payments were delayed by a more than an insignificant time period, typically more than 180 days, at or above contractual interest rates.
(b)Relates to FDMs where more than one type of modification was made. For three months ended March 31, 2024, this primarily related to modifications where the interest rate was reduced and the term was extended.
(c)Primarily loans to real estate developers.
(d)Primarily loans secured by owner-occupied real estate.

There were no commitments to lend additional funds to borrowers experiencing financial difficulty whose terms had been restructured at March 31, 2025 and December 31, 2024.
The following table summarizes the financial impacts of loan modifications made during the three-month periods ended March 31, 2025 and 2024.
Weighted-Average Term Extension
(in months)		Weighted-Average Interest Rate Reduction
Three Months Ended March 31, 2025
Business loans:
Commercial16.1 — %
Commercial mortgage:
Commercial Real Estate business line (a)21.0 — 
Other business lines (b)
17.4 — 
Total commercial mortgage20.1 — 
Total business loans18.1 — 
Retail loans:
Consumer:
Home equity— (3.24)
Total consumer— (3.24)
Total retail loans— (3.24)
Total loans18.1 (3.24)%
Three Months Ended March 31, 2024
Business loans:
Commercial9.8 (1.11)%
Commercial mortgage:
Other business lines (b)
12.4 — 
Total commercial mortgage12.4 — 
International12.7 — 
Total business loans10.0 (1.11)
Retail loans:
Consumer:
Home equity117.5 (3.11)
Total consumer117.5 (3.11)
Total retail loans117.5 (3.11)
Total loans11.1 (1.40)%
(a)Primarily loans to real estate developers.
(b)Primarily loans secured by owner-occupied real estate.
On an ongoing basis, the Corporation monitors the performance of modified loans related to their restructured terms. Of the loans restructured during the three-month period ended March 31, 2025, $3 million were past due, compared to all being current under modified terms at March 31, 2024. Nonperforming restructured loans are classified as nonaccrual loans and are individually evaluated for the allowance for loan losses.
For restructured loans, a subsequent payment default is defined in terms of delinquency, when a principal or interest payment is 90 days past due or classified into nonaccrual status during the reporting period. Of the loans restructured during the twelve-month period ended March 31, 2025, there were no loans that subsequently defaulted at March 31, 2025, compared to $3 million at March 31, 2024 for the twelve-month period ended March 31, 2024.