Loans |
Loans In connection with changes to our business segments as discussed further in Note 13, "Business Segments," during the first quarter of 2025, we changed our presentation for what was previously reported as global banking to include such activity within business and corporate banking. As a result, we have reclassified prior year amounts to conform to the current year presentation. All tables below have been recasted to reflect this reclassification, as applicable. Loans consisted of the following: | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | (in millions) | Commercial loans: | | | | Real estate, including construction | $ | 6,346 | | | $ | 6,612 | | Business and corporate banking | 26,750 | | | 25,426 | | Other commercial: | | | | Affiliates(1) | 5,494 | | | 5,449 | | Other | 3,114 | | | 3,564 | | Total other commercial | 8,608 | | | 9,013 | | Total commercial | 41,704 | | | 41,051 | | Consumer loans: | | | | Residential mortgages | 21,846 | | | 21,035 | | Home equity mortgages | 399 | | | 393 | | Credit cards | 177 | | | 195 | | Other consumer(2) | 73 | | | 79 | | Total consumer | 22,495 | | | 21,702 | | Total loans | $ | 64,199 | | | $ | 62,753 | |
(1)See Note 12, "Related Party Transactions," for additional information regarding loans to HSBC affiliates. (2)Includes certain student loans that we have elected to designate under the fair value option and are therefore carried at fair value, which totaled $9 million and $11 million at June 30, 2025 and December 31, 2024, respectively. See Note 9, "Fair Value Option," for further details. Net deferred origination costs totaled $24 million and $32 million at June 30, 2025 and December 31, 2024, respectively. At June 30, 2025 and December 31, 2024, we had a net unamortized discount on our loans of $9 million and $10 million, respectively. Aging Analysis of Past Due Loans The following table summarizes the past due status of our loans at June 30, 2025 and December 31, 2024. The aging of past due amounts is determined based on the contractual delinquency status of payments under the loan. An account is generally considered to be contractually delinquent when payments have not been made in accordance with the loan terms. Delinquency status is affected by customer account management policies and practices such as re-age, which results in the re-setting of the contractual delinquency status to current. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Past Due | | Total Past Due 30 Days or More | | | | | | | | 30 - 89 Days | | 90+ Days | | | Current(1) | | Total Loans | | | | (in millions) | At June 30, 2025 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | Real estate, including construction | | | $ | — | | | $ | 18 | | | $ | 18 | | | $ | 6,328 | | | $ | 6,346 | | Business and corporate banking | | | 74 | | | 71 | | | 145 | | | 26,605 | | | 26,750 | | Other commercial | | | 88 | | | — | | | 88 | | | 8,520 | | | 8,608 | | Total commercial | | | 162 | | | 89 | | | 251 | | | 41,453 | | | 41,704 | | Consumer loans: | | | | | | | | | | | | Residential mortgages | | | 197 | | | 111 | | | 308 | | | 21,538 | | | 21,846 | | Home equity mortgages | | | 3 | | | 5 | | | 8 | | | 391 | | | 399 | | Credit cards | | | 2 | | | 2 | | | 4 | | | 173 | | | 177 | | Other consumer | | | 2 | | | 1 | | | 3 | | | 70 | | | 73 | | Total consumer | | | 204 | | | 119 | | | 323 | | | 22,172 | | | 22,495 | | Total loans | | | $ | 366 | | | $ | 208 | | | $ | 574 | | | $ | 63,625 | | | $ | 64,199 | | At December 31, 2024 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | Real estate, including construction | | | $ | 4 | | | $ | 19 | | | $ | 23 | | | $ | 6,589 | | | $ | 6,612 | | Business and corporate banking | | | 63 | | | 182 | | | 245 | | | 25,181 | | | 25,426 | | Other commercial | | | 31 | | | — | | | 31 | | | 8,982 | | | 9,013 | | Total commercial | | | 98 | | | 201 | | | 299 | | | 40,752 | | | 41,051 | | Consumer loans: | | | | | | | | | | | | Residential mortgages | | | 174 | | | 105 | | | 279 | | | 20,756 | | | 21,035 | | Home equity mortgages | | | 2 | | | 4 | | | 6 | | | 387 | | | 393 | | Credit cards | | | 2 | | | 2 | | | 4 | | | 191 | | | 195 | | Other consumer | | | 2 | | | 1 | | | 3 | | | 76 | | | 79 | | Total consumer | | | 180 | | | 112 | | | 292 | | | 21,410 | | | 21,702 | | Total loans | | | $ | 278 | | | $ | 313 | | | $ | 591 | | | $ | 62,162 | | | $ | 62,753 | |
(1)Loans less than 30 days past due are presented as current. Nonperforming Loans Nonperforming loans, including nonaccrual loans and accruing loans contractually 90 days or more past due, consisted of the following: | | | | | | | | | | | | | | | | | | | Nonaccrual Loans | | Accruing Loans Contractually Past Due 90 Days or More | | Nonaccrual Loans With No Allowance For Credit Losses | | (in millions) | At June 30, 2025 | | | | | | Commercial loans: | | | | | | Real estate, including construction | $ | 351 | | | $ | — | | | $ | 1 | | Business and corporate banking | 385 | | | 45 | | | 30 | | | | | | | | Total commercial | 736 | | | 45 | | | 31 | | Consumer loans: | | | | | | Residential mortgages(1)(2)(3) | 202 | | | — | | | 76 | | Home equity mortgages(1)(2) | 10 | | | — | | | 6 | | Credit cards | — | | | 2 | | | — | | Other consumer | — | | | 1 | | | — | | Total consumer | 212 | | | 3 | | | 82 | | Total nonperforming loans | $ | 948 | | | $ | 48 | | | $ | 113 | | At December 31, 2024 | | | | | | Commercial loans: | | | | | | Real estate, including construction | $ | 261 | | | $ | — | | | $ | 21 | | Business and corporate banking | 280 | | | 147 | | | 33 | | | | | | | | Total commercial | 541 | | | 147 | | | 54 | | Consumer loans: | | | | | | Residential mortgages(1)(2)(3) | 173 | | | — | | | 80 | | Home equity mortgages(1)(2) | 6 | | | — | | | 5 | | Credit cards | — | | | 3 | | | — | | Other consumer | — | | | 1 | | | — | | Total consumer | 179 | | | 4 | | | 85 | | Total nonperforming loans | $ | 720 | | | $ | 151 | | | $ | 139 | |
(1)At June 30, 2025 and December 31, 2024, nonaccrual consumer mortgage loans include $103 million and $106 million, respectively, of loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell. (2)Nonaccrual consumer mortgage loans include all loans which are 90 or more days contractually delinquent as well as loans discharged under Chapter 7 bankruptcy and not re-affirmed and second lien loans where the first lien loan that we own or service is 90 or more days contractually delinquent. (3)Nonaccrual consumer mortgage loans for all periods does not include guaranteed loans purchased from the Government National Mortgage Association. Repayment of these loans is predominantly insured by the Federal Housing Administration and as such, these loans have different risk characteristics from the rest of our consumer loan portfolio. Interest income that was recorded on nonaccrual loans and included in interest income totaled $1 million and $3 million during the three and six months ended June 30, 2025, respectively, compared with $8 million during both the three and six months ended June 30, 2024. Collateral-Dependent Loans Loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty are considered to be collateral-dependent loans. Collateral can have a significant financial effect in mitigating our exposure to credit risk. Collateral-dependent residential mortgage loans are carried at the lower of amortized cost or fair value of the collateral less costs to sell, with any excess in the carrying amount of the loan generally charged off at the time foreclosure is initiated or when settlement is reached with the borrower, but not to exceed the end of the month in which the account becomes six months contractually delinquent. Collateral values are based on broker price opinions or appraisals which are updated at least every 180 days less estimated costs to sell. During the quarterly period between updates, real estate price trends are reviewed on a geographic basis and incorporated as necessary. At June 30, 2025 and December 31, 2024, we had collateral-dependent residential mortgage loans totaling $268 million and $282 million, respectively. For collateral-dependent commercial loans, the allowance for expected credit losses is individually assessed based on the fair value of the collateral. Various types of collateral are used, including real estate, inventory, equipment, accounts receivable, securities and cash, among others. For commercial real estate loans, collateral values are generally based on appraisals which are updated based on management judgment under the specific circumstances on a case-by-case basis. In situations where an appraisal is not used, borrower-specific factors such as operating results, cash flows and debt service ratios are reviewed along with relevant market data of comparable properties in order to create a 10-year cash flow model to be discounted at appropriate rates to present value. The collateral value for securities is based on their quoted market prices or broker quotes. The collateral value for other financial assets is generally based on appraisals or is estimated using a discounted cash flow analysis. Commercial loan balances are charged off at the time all or a portion of the balance is deemed uncollectible. At June 30, 2025 and December 31, 2024, we had collateral-dependent commercial loans totaling $746 million and $524 million, respectively. Loan Modifications In conjunction with our loss mitigation activities, we modify certain loans to borrowers experiencing financial difficulty. Modifications may include changes to one or more terms of the loan, including, but not limited to, a change in interest rate, extension of the term, reduction in payment amount and partial forgiveness or deferment of principal, accrued interest or other loan covenants. The following disclosures provide information about loan payment modifications made to borrowers experiencing financial difficulty in the form of an interest rate reduction, principal forgiveness, a term extension or significant payment deferral, or a combination thereof. Not included are loans with short-term payment modifications (e.g., deferrals of three months or less) and other insignificant modifications, such as covenant waivers and amendments, and deferrals of financial statement and covenant compliance reporting requirements. Commercial loan payment modifications typically involve term extensions. In certain cases, the term extension is coupled with an interest rate increase which is intended to reduce the financial effect of extending the life of the loan. The effects of these interest rate increases are not included in the following disclosures. For consumer loans, payment modifications typically involve payment deferrals or interest rate reductions which lower the amount of interest income we are contractually entitled to receive in future periods. Through lowering the interest rate, we believe we are able to increase the amount of cash flow that will ultimately be collected from the loan, given the borrower's financial condition. The following table presents information about loan payment modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2025 and 2024 by type of modification, including the period-end carrying value and as a percentage of total loans. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Rate Reduction | | Principal Forgiveness | | Term Extension / Significant Payment Deferral | | Combination(1) | | Total | | % of Total Loans | | (dollars are in millions) | Three Months Ended June 30, 2025 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | | | | | | | | | | | | | Business and corporate banking | $ | 23 | | | $ | — | | | $ | 103 | | | $ | 3 | | | $ | 129 | | | .5 | % | | | | | | | | | | | | | Total commercial | 23 | | | — | | | 103 | | | 3 | | | 129 | | | .3 | | Consumer loans: | | | | | | | | | | | | Residential mortgages(2) | — | | | — | | | 36 | | | 2 | | | 38 | | | .2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | — | | | — | | | 36 | | | 2 | | | 38 | | | .2 | | Total | $ | 23 | | | $ | — | | | $ | 139 | | | $ | 5 | | | $ | 167 | | | .3 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Rate Reduction | | Principal Forgiveness | | Term Extension / Significant Payment Deferral | | Combination(1) | | Total | | % of Total Loans | | (dollars are in millions) | Three Months Ended June 30, 2024 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | Real estate, including construction | $ | — | | | $ | — | | | $ | — | | | $ | 161 | | | $ | 161 | | | 2.4 | % | Business and corporate banking | — | | | — | | | 54 | | | 7 | | | 61 | | | .2 | | | | | | | | | | | | | | Total commercial | — | | | — | | | 54 | | | 168 | | | 222 | | | .5 | | Consumer loans: | | | | | | | | | | | | Residential mortgages(2) | — | | | — | | | — | | | 1 | | | 1 | | | .0 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | — | | | — | | | — | | | 1 | | | 1 | | | .0 | | Total | $ | — | | | $ | — | | | $ | 54 | | | $ | 169 | | | $ | 223 | | | .4 | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | | | | | | | | | | | | | Business and corporate banking | $ | 23 | | | $ | — | | | $ | 113 | | | $ | 3 | | | $ | 139 | | | .5 | % | | | | | | | | | | | | | Total commercial | 23 | | | — | | | 113 | | | 3 | | | 139 | | | .3 | | Consumer loans: | | | | | | | | | | | | Residential mortgages(2) | — | | | — | | | 36 | | | 2 | | | 38 | | | .2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | — | | | — | | | 36 | | | 2 | | | 38 | | | .2 | | Total | $ | 23 | | | $ | — | | | $ | 149 | | | $ | 5 | | | $ | 177 | | | .3 | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | Real estate, including construction | $ | — | | | $ | — | | | $ | — | | | $ | 161 | | | $ | 161 | | | 2.4 | % | Business and corporate banking | — | | | — | | | 113 | | | 7 | | | 120 | | | .4 | | | | | | | | | | | | | | Total commercial | — | | | — | | | 113 | | | 168 | | | 281 | | | .7 | | Consumer loans: | | | | | | | | | | | | Residential mortgages(2) | — | | | — | | | — | | | 1 | | | 1 | | | .0 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | — | | | — | | | — | | | 1 | | | 1 | | | .0 | | Total | $ | — | | | $ | — | | | $ | 113 | | | $ | 169 | | | $ | 282 | | | .5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1)Represents loans with more than one type of payment modification during the period. (2)During the three and six months ended June 30, 2025, the carrying value of consumer mortgage loans with a payment modification primarily includes loans where the borrowers were provided with payment deferrals as a result of the recent California wildfires. During the three and six months ended June 30, 2024, the carrying value of consumer mortgage loans with a payment modification includes loans that were recorded at the lower of amortized cost or fair value of the collateral less cost to sell. At June 30, 2025 and December 31, 2024, additional commitments to lend to commercial borrowers who were provided with a loan payment modification during the respective year-to-date periods totaled $77 million and $25 million, respectively. The following table summarizes the financial effect of loan payment modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2025 and 2024 by type of modification: | | | | | | | | | | | | | | | | | | | Weighted-Average Interest Rate Reduction | | Principal Forgiven (in millions) | | Weighted-Average Term Extension / Payment Deferral (in years) | Three Months Ended June 30, 2025 | | | | | | Commercial loans: | | | | | | | | | | | | Business and corporate banking | .2 | % | | $ | — | | | 1.0 | | | | | | | Consumer loans: | | | | | | Residential mortgages | 1.0 | | | — | | | 0.7 | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | | | | | Commercial loans: | | | | | | Real estate, including construction | 5.6 | % | | $ | — | | | 4.0 | Business and corporate banking | .3 | | | — | | | 1.7 | | | | | | | Consumer loans: | | | | | | Residential mortgages | .5 | | | — | | | 0.6 | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | Commercial loans: | | | | | | | | | | | | Business and corporate banking | .2 | % | | $ | — | | | 1.0 | | | | | | | Consumer loans: | | | | | | Residential mortgages | 1.0 | | | — | | | 0.7 | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | Commercial loans: | | | | | | Real estate, including construction | 5.6 | % | | $ | — | | | 4.0 | Business and corporate banking | .3 | | | — | | | 1.7 | | | | | | | Consumer loans: | | | | | | Residential mortgages | .5 | | | — | | | 0.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the methodology used to estimate lifetime ECL, which considers historical loss information including losses from modifications of loans to borrowers experiencing financial difficulty. As a result, a material change to the allowance for credit losses is generally not recorded upon modification. In instances when a loan is modified in the form of principal forgiveness, the amount of principal forgiven is deemed uncollectible and that portion of the loan balance is charged off with a corresponding reduction to the allowance for credit losses. We closely monitor the performance of modified loans to understand the effectiveness of our loss mitigation efforts. Upon determination that a modified loan or a portion of a modified loan has subsequently been deemed uncollectible, the loan or a portion of the loan is charged off in accordance with our accounting policies with a corresponding reduction to the allowance for credit losses. The following table presents loans to borrowers experiencing financial difficulty with a payment modification during the previous 12 months which subsequently became 90 days or greater contractually delinquent during the three and six months ended June 30, 2025 and 2024 by type of modification: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Rate Reduction | | Principal Forgiveness | | Term Extension / Significant Payment Deferral | | Combination(1) | | Total | | (in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer loans: | | | | | | | | | | Residential mortgages | $ | — | | | $ | — | | | $ | 1 | | | $ | — | | | $ | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | $ | — | | | $ | — | | | $ | 1 | | | $ | — | | | $ | 1 | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | | Commercial loans: | | | | | | | | | | | | | | | | | | | | Business and corporate banking | $ | — | | | $ | — | | | $ | 1 | | | $ | — | | | $ | 1 | | | | | | | | | | | | Total commercial | $ | — | | | $ | — | | | $ | 1 | | | $ | — | | | $ | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1)Represents loans with more than one type of payment modification during the period. The following table presents the past due status of loans to borrowers experiencing financial difficulty with a payment modification during the previous 12 months at June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Past Due | | | | | | | | | | 30 - 89 Days | | 90+ Days | | | Current(1) | | Total | | | | (in millions) | At June 30, 2025 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | Real estate, including construction | | | $ | — | | | $ | — | | | | | $ | 235 | | | $ | 235 | | Business and corporate banking | | | — | | | 27 | | | | | 263 | | | 290 | | | | | | | | | | | | | | Total commercial | | | — | | | 27 | | | | | 498 | | | 525 | | Consumer loans: | | | | | | | | | | | | Residential mortgages | | | 3 | | | — | | | | | 39 | | | 42 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | | | 3 | | | — | | | | | 39 | | | 42 | | Total | | | $ | 3 | | | $ | 27 | | | | | $ | 537 | | | $ | 567 | | At December 31, 2024 | | | | | | | | | | | | Commercial loans: | | | | | | | | | | | | Real estate, including construction | | | $ | — | | | $ | — | | | | | $ | 232 | | | $ | 232 | | Business and corporate banking | | | — | | | 29 | | | | | 177 | | | 206 | | | | | | | | | | | | | | Total commercial | | | — | | | 29 | | | | | 409 | | | 438 | | Consumer loans: | | | | | | | | | | | | Residential mortgages | | | 1 | | | — | | | | | 4 | | | 5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total consumer | | | 1 | | | — | | | | | 4 | | | 5 | | Total | | | $ | 1 | | | $ | 29 | | | | | $ | 413 | | | $ | 443 | |
(1)Loans less than 30 days past due are presented as current. Commercial Loan Credit Quality Indicators and Gross Charge-offs by Year of Origination The following credit quality indicators are utilized to monitor our commercial loan portfolio: Criticized loans Criticized loan classifications presented in the table below are determined by the assignment of various criticized facility risk ratings based on the risk rating standards of our regulator. The following facility risk ratings are deemed to be criticized: Special Mention - generally includes loans that are protected by collateral and/or the credit worthiness of the customer, but are potentially weak based upon economic or market circumstances which, if not checked or corrected, could weaken our credit position at some future date. Substandard - includes loans that are inadequately protected by the underlying collateral and/or general credit worthiness of the customer. These loans present a distinct possibility that we will sustain some loss if the deficiencies are not corrected. Doubtful - includes loans that have all the weaknesses exhibited by substandard loans, with the added characteristic that the weaknesses make collection or liquidation in full of the recorded loan highly improbable. However, although the possibility of loss is extremely high, certain factors exist which may strengthen the credit at some future date, and therefore the decision to charge-off the loan is deferred. Loans graded as doubtful are required to be placed in nonaccrual status. The following table summarizes our criticized commercial loans, including a disaggregation of the loans by year of origination as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | Revolving Loans Converted to Term Loans | | Total at Jun. 30, 2025 | | (in millions) | Real estate, including construction: | | | | | | | | | | | | | | | | | | Special mention | $ | — | | | $ | — | | | $ | — | | | $ | 42 | | | $ | — | | | $ | 113 | | | $ | — | | | $ | 2 | | | $ | 157 | | Substandard | 1 | | | — | | | — | | | 54 | | | — | | | 308 | | | 3 | | | — | | | 366 | | Doubtful | — | | | — | | | — | | | — | | | 31 | | | 300 | | | 18 | | | — | | | 349 | | Total real estate, including construction | 1 | | | — | | | — | | | 96 | | | 31 | | | 721 | | | 21 | | | 2 | | | 872 | | Business and corporate banking: | | | | | | | | | | | | | | | | | | Special mention | 135 | | | 144 | | | 120 | | | 128 | | | 45 | | | 232 | | | 179 | | | 10 | | | 993 | | Substandard | 112 | | | 301 | | | 79 | | | 44 | | | 27 | | | 238 | | | 319 | | | 13 | | | 1,133 | | Doubtful | — | | | 1 | | | 37 | | | 27 | | | — | | | 202 | | | 58 | | | — | | | 325 | | Total business and corporate banking | 247 | | | 446 | | | 236 | | | 199 | | | 72 | | | 672 | | | 556 | | | 23 | | | 2,451 | | Other commercial: | | | | | | | | | | | | | | | | | | Special mention | — | | | — | | | — | | | — | | | — | | | 3 | | | — | | | — | | | 3 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total other commercial | — | | | — | | | — | | | — | | | — | | | 3 | | | — | | | — | | | 3 | | Total commercial | $ | 248 | | | $ | 446 | | | $ | 236 | | | $ | 295 | | | $ | 103 | | | $ | 1,396 | | | $ | 577 | | | $ | 25 | | | $ | 3,326 | | Total commercial: | | | | | | | | | | | | | | | | | | Special mention | $ | 135 | | | $ | 144 | | | $ | 120 | | | $ | 170 | | | $ | 45 | | | $ | 348 | | | $ | 179 | | | $ | 12 | | | $ | 1,153 | | Substandard | 113 | | | 301 | | | 79 | | | 98 | | | 27 | | | 546 | | | 322 | | | 13 | | | 1,499 | | Doubtful | — | | | 1 | | | 37 | | | 27 | | | 31 | | | 502 | | | 76 | | | — | | | 674 | | Total commercial | $ | 248 | | | $ | 446 | | | $ | 236 | | | $ | 295 | | | $ | 103 | | | $ | 1,396 | | | $ | 577 | | | $ | 25 | | | $ | 3,326 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | Revolving Loans Converted to Term Loans | | Total at Dec. 31, 2024 | | (in millions) | Real estate, including construction: | | | | | | | | | | | | | | | | | | Special mention | $ | — | | | $ | — | | | $ | 104 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 104 | | Substandard | — | | | — | | | 64 | | | — | | | — | | | 432 | | | 28 | | | — | | | 524 | | Doubtful | — | | | — | | | — | | | 32 | | | — | | | 207 | | | — | | | — | | | 239 | | Total real estate, including construction | — | | | — | | | 168 | | | 32 | | | — | | | 639 | | | 28 | | | — | | | 867 | | Business and corporate banking: | | | | | | | | | | | | | | | | | | Special mention | 194 | | | 235 | | | 126 | | | 27 | | | 3 | | | 178 | | | 143 | | | 18 | | | 924 | | Substandard | 141 | | | 103 | | | 44 | | | 43 | | | — | | | 210 | | | 541 | | | 5 | | | 1,087 | | Doubtful | 1 | | | 10 | | | — | | | — | | | — | | | 178 | | | 44 | | | — | | | 233 | | Total business and corporate banking | 336 | | | 348 | | | 170 | | | 70 | | | 3 | | | 566 | | | 728 | | | 23 | | | 2,244 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial | $ | 336 | | | $ | 348 | | | $ | 338 | | | $ | 102 | | | $ | 3 | | | $ | 1,205 | | | $ | 756 | | | $ | 23 | | | $ | 3,111 | | Total commercial: | | | | | | | | | | | | | | | | | | Special mention | $ | 194 | | | $ | 235 | | | $ | 230 | | | $ | 27 | | | $ | 3 | | | $ | 178 | | | $ | 143 | | | $ | 18 | | | $ | 1,028 | | Substandard | 141 | | | 103 | | | 108 | | | 43 | | | — | | | 642 | | | 569 | | | 5 | | | 1,611 | | Doubtful | 1 | | | 10 | | | — | | | 32 | | | — | | | 385 | | | 44 | | | — | | | 472 | | Total commercial | $ | 336 | | | $ | 348 | | | $ | 338 | | | $ | 102 | | | $ | 3 | | | $ | 1,205 | | | $ | 756 | | | $ | 23 | | | $ | 3,111 | |
Nonperforming The following table summarizes the nonperforming status of our commercial loan portfolio, including a disaggregation of the loans by year of origination as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | Revolving Loans Converted to Term Loans | | Total at Jun. 30, 2025 | | (in millions) | Real estate, including construction: | | | | | | | | | | | | | | | | | | Performing loans | $ | 309 | | | $ | 1,623 | | | $ | 567 | | | $ | 958 | | | $ | 612 | | | $ | 1,911 | | | $ | 13 | | | $ | 2 | | | $ | 5,995 | | Nonaccrual loans | — | | | — | | | — | | | — | | | 31 | | | 302 | | | 18 | | | — | | | 351 | | | | | | | | | | | | | | | | | | | | Total real estate, including construction | 309 | | | 1,623 | | | 567 | | | 958 | | | 643 | | | 2,213 | | | 31 | | | 2 | | | 6,346 | | Business and corporate banking: | | | | | | | | | | | | | | | | | | Performing loans | 1,356 | | | 2,277 | | | 2,360 | | | 2,169 | | | 2,113 | | | 7,236 | | | 8,499 | | | 310 | | | 26,320 | | Nonaccrual loans | — | | | 6 | | | 37 | | | 27 | | | — | | | 257 | | | 58 | | | — | | | 385 | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | 45 | | | — | | | — | | | 45 | | Total business and corporate banking | 1,356 | | | 2,283 | | | 2,397 | | | 2,196 | | | 2,113 | | | 7,538 | | | 8,557 | | | 310 | | | 26,750 | | Other commercial: | | | | | | | | | | | | | | | | | | Performing loans | 109 | | | 452 | | | 109 | | | 275 | | | 76 | | | 1,564 | | | 6,023 | | | — | | | 8,608 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total other commercial | 109 | | | 452 | | | 109 | | | 275 | | | 76 | | | 1,564 | | | 6,023 | | | — | | | 8,608 | | Total commercial | $ | 1,774 | | | $ | 4,358 | | | $ | 3,073 | | | $ | 3,429 | | | $ | 2,832 | | | $ | 11,315 | | | $ | 14,611 | | | $ | 312 | | | $ | 41,704 | | Total commercial: | | | | | | | | | | | | | | | | | | Performing loans | $ | 1,774 | | | $ | 4,352 | | | $ | 3,036 | | | $ | 3,402 | | | $ | 2,801 | | | $ | 10,711 | | | $ | 14,535 | | | $ | 312 | | | $ | 40,923 | | Nonaccrual loans | — | | | 6 | | | 37 | | | 27 | | | 31 | | | 559 | | | 76 | | | — | | | 736 | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | 45 | | | — | | | — | | | 45 | | Total commercial | $ | 1,774 | | | $ | 4,358 | | | $ | 3,073 | | | $ | 3,429 | | | $ | 2,832 | | | $ | 11,315 | | | $ | 14,611 | | | $ | 312 | | | $ | 41,704 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | Revolving Loans Converted to Term Loans | | Total at Dec. 31, 2024 | | (in millions) | Real estate, including construction: | | | | | | | | | | | | | | | | | | Performing loans | $ | 1,035 | | | $ | 946 | | | $ | 1,109 | | | $ | 850 | | | $ | 262 | | | $ | 2,129 | | | $ | 17 | | | $ | 3 | | | $ | 6,351 | | Nonaccrual loans | — | | | — | | | — | | | 32 | | | — | | | 210 | | | 19 | | | — | | | 261 | | | | | | | | | | | | | | | | | | | | Total real estate, including construction | 1,035 | | | 946 | | | 1,109 | | | 882 | | | 262 | | | 2,339 | | | 36 | | | 3 | | | 6,612 | | Business and corporate banking: | | | | | | | | | | | | | | | | | | Performing loans | 2,322 | | | 2,734 | | | 1,721 | | | 1,986 | | | 276 | | | 7,477 | | | 8,188 | | | 295 | | | 24,999 | | Nonaccrual loans | 2 | | | 11 | | | 1 | | | — | | | — | | | 205 | | | 61 | | | — | | | 280 | | Accruing loans contractually past due 90 days or more | — | | | 40 | | | — | | | — | | | — | | | 47 | | | 60 | | | — | | | 147 | | Total business and corporate banking | 2,324 | | | 2,785 | | | 1,722 | | | 1,986 | | | 276 | | | 7,729 | | | 8,309 | | | 295 | | | 25,426 | | Other commercial: | | | | | | | | | | | | | | | | | | Performing loans | 493 | | | 90 | | | 281 | | | 136 | | | 504 | | | 1,565 | | | 5,944 | | | — | | | 9,013 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total other commercial | 493 | | | 90 | | | 281 | | | 136 | | | 504 | | | 1,565 | | | 5,944 | | | — | | | 9,013 | | Total commercial | $ | 3,852 | | | $ | 3,821 | | | $ | 3,112 | | | $ | 3,004 | | | $ | 1,042 | | | $ | 11,633 | | | $ | 14,289 | | | $ | 298 | | | $ | 41,051 | | Total commercial: | | | | | | | | | | | | | | | | | | Performing loans | $ | 3,850 | | | $ | 3,770 | | | $ | 3,111 | | | $ | 2,972 | | | $ | 1,042 | | | $ | 11,171 | | | $ | 14,149 | | | $ | 298 | | | $ | 40,363 | | Nonaccrual loans | 2 | | | 11 | | | 1 | | | 32 | | | — | | | 415 | | | 80 | | | — | | | 541 | | Accruing loans contractually past due 90 days or more | — | | | 40 | | | — | | | — | | | — | | | 47 | | | 60 | | | — | | | 147 | | Total commercial | $ | 3,852 | | | $ | 3,821 | | | $ | 3,112 | | | $ | 3,004 | | | $ | 1,042 | | | $ | 11,633 | | | $ | 14,289 | | | $ | 298 | | | $ | 41,051 | |
Credit risk profile Commercial loans are assigned a credit rating based on the estimated probability of default. Investment grade includes loans with credit ratings of at least BBB- or above or the equivalent based on our internal credit rating system. The following table summarizes the credit risk profile of our commercial loan portfolio, including a disaggregation of the loans by year of origination as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | Revolving Loans Converted to Term Loans | | Total at Jun. 30, 2025 | | (in millions) | Real estate, including construction: | | | | | | | | | | | | | | | | | | Investment grade | $ | — | | | $ | 317 | | | $ | 230 | | | $ | 10 | | | $ | 260 | | | $ | 492 | | | $ | — | | | $ | — | | | $ | 1,309 | | Non-investment grade | 309 | | | 1,306 | | | 337 | | | 948 | | | 383 | | | 1,721 | | | 31 | | | 2 | | | 5,037 | | Total real estate, including construction | 309 | | | 1,623 | | | 567 | | | 958 | | | 643 | | | 2,213 | | | 31 | | | 2 | | | 6,346 | | Business and corporate banking: | | | | | | | | | | | | | | | | | | Investment grade | 882 | | | 1,330 | | | 1,368 | | | 1,220 | | | 1,333 | | | 4,468 | | | 5,143 | | | 97 | | | 15,841 | | Non-investment grade | 474 | | | 953 | | | 1,029 | | | 976 | | | 780 | | | 3,070 | | | 3,414 | | | 213 | | | 10,909 | | Total business and corporate banking | 1,356 | | | 2,283 | | | 2,397 | | | 2,196 | | | 2,113 | | | 7,538 | | | 8,557 | | | 310 | | | 26,750 | | Other commercial: | | | | | | | | | | | | | | | | | | Investment grade | 22 | | | 327 | | | 59 | | | 137 | | | 71 | | | 1,108 | | | 5,618 | | | — | | | 7,342 | | Non-investment grade | 87 | | | 125 | | | 50 | | | 138 | | | 5 | | | 456 | | | 405 | | | — | | | 1,266 | | Total other commercial | 109 | | | 452 | | | 109 | | | 275 | | | 76 | | | 1,564 | | | 6,023 | | | — | | | 8,608 | | Total commercial | $ | 1,774 | | | $ | 4,358 | | | $ | 3,073 | | | $ | 3,429 | | | $ | 2,832 | | | $ | 11,315 | | | $ | 14,611 | | | $ | 312 | | | $ | 41,704 | | Total commercial: | | | | | | | | | | | | | | | | | | Investment grade | $ | 904 | | | $ | 1,974 | | | $ | 1,657 | | | $ | 1,367 | | | $ | 1,664 | | | $ | 6,068 | | | $ | 10,761 | | | $ | 97 | | | $ | 24,492 | | Non-investment grade | 870 | | | 2,384 | | | 1,416 | | | 2,062 | | | 1,168 | | | 5,247 | | | 3,850 | | | 215 | | | 17,212 | | Total commercial | $ | 1,774 | | | $ | 4,358 | | | $ | 3,073 | | | $ | 3,429 | | | $ | 2,832 | | | $ | 11,315 | | | $ | 14,611 | | | $ | 312 | | | $ | 41,704 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | Revolving Loans Converted to Term Loans | | Total at Dec. 31, 2024 | | (in millions) | Real estate, including construction: | | | | | | | | | | | | | | | | | | Investment grade | $ | 67 | | | $ | 307 | | | $ | 27 | | | $ | — | | | $ | 165 | | | $ | 757 | | | $ | — | | | $ | — | | | $ | 1,323 | | Non-investment grade | 968 | | | 639 | | | 1,082 | | | 882 | | | 97 | | | 1,582 | | | 36 | | | 3 | | | 5,289 | | Total real estate, including construction | 1,035 | | | 946 | | | 1,109 | | | 882 | | | 262 | | | 2,339 | | | 36 | | | 3 | | | 6,612 | | Business and corporate banking: | | | | | | | | | | | | | | | | | | Investment grade | 1,325 | | | 1,668 | | | 981 | | | 1,357 | | | 190 | | | 4,896 | | | 4,752 | | | 88 | | | 15,257 | | Non-investment grade | 999 | | | 1,117 | | | 741 | | | 629 | | | 86 | | | 2,833 | | | 3,557 | | | 207 | | | 10,169 | | Total business and corporate banking | 2,324 | | | 2,785 | | | 1,722 | | | 1,986 | | | 276 | | | 7,729 | | | 8,309 | | | 295 | | | 25,426 | | Other commercial: | | | | | | | | | | | | | | | | | | Investment grade | 365 | | | 71 | | | 141 | | | 86 | | | 220 | | | 1,258 | | | 5,783 | | | — | | | 7,924 | | Non-investment grade | 128 | | | 19 | | | 140 | | | 50 | | | 284 | | | 307 | | | 161 | | | — | | | 1,089 | | Total other commercial | 493 | | | 90 | | | 281 | | | 136 | | | 504 | | | 1,565 | | | 5,944 | | | — | | | 9,013 | | Total commercial | $ | 3,852 | | | $ | 3,821 | | | $ | 3,112 | | | $ | 3,004 | | | $ | 1,042 | | | $ | 11,633 | | | $ | 14,289 | | | $ | 298 | | | $ | 41,051 | | Total commercial: | | | | | | | | | | | | | | | | | | Investment grade | $ | 1,757 | | | $ | 2,046 | | | $ | 1,149 | | | $ | 1,443 | | | $ | 575 | | | $ | 6,911 | | | $ | 10,535 | | | $ | 88 | | | $ | 24,504 | | Non-investment grade | 2,095 | | | 1,775 | | | 1,963 | | | 1,561 | | | 467 | | | 4,722 | | | 3,754 | | | 210 | | | 16,547 | | Total commercial | $ | 3,852 | | | $ | 3,821 | | | $ | 3,112 | | | $ | 3,004 | | | $ | 1,042 | | | $ | 11,633 | | | $ | 14,289 | | | $ | 298 | | | $ | 41,051 | |
Gross Charge-offs The following table summarizes gross charge-off dollars in our commercial loan portfolio, disaggregated by year of origination, during the six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | | | Revolving Loans Converted to Term Loans | | Total | | | | (in millions) | Six Months Ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | Real estate, including construction | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 27 | | | $ | — | | | | | $ | — | | | $ | 27 | | | | Business and corporate banking | — | | | — | | | 7 | | | — | | | — | | | — | | | 33 | | | | | — | | | 40 | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial | $ | — | | | $ | — | | | $ | 7 | | | $ | — | | | $ | — | | | $ | 27 | | | $ | 33 | | | | | $ | — | | | $ | 67 | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | | | Revolving Loans Converted to Term Loans | | Total | | | | (in millions) | Six Months Ended June 30, 2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Business and corporate banking | $ | — | | | $ | — | | | $ | — | | | $ | 28 | | | $ | — | | | $ | 23 | | | $ | 1 | | | | | $ | — | | | $ | 52 | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial | $ | — | | | $ | — | | | $ | — | | | $ | 28 | | | $ | — | | | $ | 23 | | | $ | 1 | | | | | $ | — | | | $ | 52 | | | |
Consumer Loan Credit Quality Indicators and Gross Charge-offs by Year of Origination The following credit quality indicators are utilized to monitor our consumer loan portfolio: Delinquency The following table summarizes dollars of two-months-and-over contractual delinquency for our consumer loan portfolio, including a disaggregation of the loans by year of origination as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | | | Total at Jun. 30, 2025 | | (in millions) | Residential mortgages(1)(2) | $ | — | | | $ | 2 | | | $ | 2 | | | $ | 12 | | | $ | 6 | | | $ | 122 | | | $ | — | | | | | $ | 144 | | Home equity mortgages(1)(2) | — | | | — | | | 1 | | | — | | | — | | | 5 | | | — | | | | | 6 | | Credit cards | — | | | — | | | — | | | — | | | — | | | — | | | 3 | | | | | 3 | | Other consumer | — | | | — | | | — | | | — | | | | | 1 | | | — | | | | | 1 | | Total consumer | $ | — | | | $ | 2 | | | $ | 3 | | | $ | 12 | | | $ | 6 | | | $ | 128 | | | $ | 3 | | | | | $ | 154 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | | | Total at Dec. 31, 2024 | | (in millions) | Residential mortgages(1)(2) | $ | 1 | | | $ | 5 | | | $ | 11 | | | $ | 2 | | | $ | 12 | | | $ | 103 | | | $ | — | | | | | $ | 134 | | Home equity mortgages(1)(2) | — | | | — | | | — | | | — | | | — | | | 4 | | | — | | | | | 4 | | Credit cards | — | | | — | | | — | | | — | | | — | | | — | | | 3 | | | | | 3 | | Other consumer | — | | | — | | | — | | | — | | | — | | | 1 | | | — | | | | | 1 | | Total consumer | $ | 1 | | | $ | 5 | | | $ | 11 | | | $ | 2 | | | $ | 12 | | | $ | 108 | | | $ | 3 | | | | | $ | 142 | |
(1)At June 30, 2025 and December 31, 2024, consumer mortgage loan delinquency includes $69 million and $67 million, respectively, of loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell. (2)At June 30, 2025 and December 31, 2024, consumer mortgage loans include $37 million and $32 million, respectively, of loans that were in the process of foreclosure. Nonperforming The following table summarizes the nonperforming status of our consumer loan portfolio, including a disaggregation of the loans by year of origination as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | | | Total at Jun. 30, 2025 | | (in millions) | Residential mortgages: | | | | | | | | | | | | | | | | | | Performing loans | $ | 1,912 | | | $ | 3,898 | | | $ | 2,163 | | | $ | 2,534 | | | $ | 3,818 | | | $ | 7,319 | | | $ | — | | | | | $ | 21,644 | | Nonaccrual loans | — | | | 8 | | | 17 | | | 12 | | | 10 | | | 155 | | | — | | | | | 202 | | | | | | | | | | | | | | | | | | | | Total residential mortgages | 1,912 | | | 3,906 | | | 2,180 | | | 2,546 | | | 3,828 | | | 7,474 | | | — | | | | | 21,846 | | Home equity mortgages: | | | | | | | | | | | | | | | | | | Performing loans | 28 | | | 47 | | | 72 | | | 65 | | | 8 | | | 169 | | | — | | | | | 389 | | Nonaccrual loans | — | | | — | | | 2 | | | 1 | | | 1 | | | 6 | | | — | | | | | 10 | | | | | | | | | | | | | | | | | | | | Total home equity mortgages | 28 | | | 47 | | | 74 | | | 66 | | | 9 | | | 175 | | | — | | | | | 399 | | Credit cards: | | | | | | | | | | | | | | | | | | Performing loans | — | | | — | | | — | | | — | | | — | | | — | | | 175 | | | | | 175 | | | | | | | | | | | | | | | | | | | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | 2 | | | | | 2 | | Total credit cards | — | | | — | | | — | | | — | | | — | | | — | | | 177 | | | | | 177 | | Other consumer: | | | | | | | | | | | | | | | | | | Performing loans | — | | | 1 | | | — | | | 1 | | | 7 | | | 56 | | | 7 | | | | | 72 | | | | | | | | | | | | | | | | | | | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | 1 | | | — | | | | | 1 | | Total other consumer | — | | | 1 | | | — | | | 1 | | | 7 | | | 57 | | | 7 | | | | | 73 | | Total consumer | $ | 1,940 | | | $ | 3,954 | | | $ | 2,254 | | | $ | 2,613 | | | $ | 3,844 | | | $ | 7,706 | | | $ | 184 | | | | | $ | 22,495 | | Total consumer: | | | | | | | | | | | | | | | | | | Performing loans | $ | 1,940 | | | $ | 3,946 | | | $ | 2,235 | | | $ | 2,600 | | | $ | 3,833 | | | $ | 7,544 | | | $ | 182 | | | | | $ | 22,280 | | Nonaccrual loans | — | | | 8 | | | 19 | | | 13 | | | 11 | | | 161 | | | — | | | | | 212 | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | 1 | | | 2 | | | | | 3 | | Total consumer | $ | 1,940 | | | $ | 3,954 | | | $ | 2,254 | | | $ | 2,613 | | | $ | 3,844 | | | $ | 7,706 | | | $ | 184 | | | | | $ | 22,495 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | | | Total at Dec. 31, 2024 | | (in millions) | Residential mortgages: | | | | | | | | | | | | | | | | | | Performing loans | $ | 4,237 | | | $ | 2,314 | | | $ | 2,615 | | | $ | 3,924 | | | $ | 2,601 | | | $ | 5,171 | | | $ | — | | | | | $ | 20,862 | | Nonaccrual loans | — | | | 5 | | | 10 | | | 8 | | | 10 | | | 140 | | | — | | | | | 173 | | | | | | | | | | | | | | | | | | | | Total residential mortgages | 4,237 | | | 2,319 | | | 2,625 | | | 3,932 | | | 2,611 | | | 5,311 | | | — | | | | | 21,035 | | Home equity mortgages: | | | | | | | | | | | | | | | | | | Performing loans | 47 | | | 81 | | | 60 | | | 9 | | | 18 | | | 172 | | | — | | | | | 387 | | Nonaccrual loans | — | | | — | | | — | | | — | | | — | | | 6 | | | — | | | | | 6 | | | | | | | | | | | | | | | | | | | | Total home equity mortgages | 47 | | | 81 | | | 60 | | | 9 | | | 18 | | | 178 | | | — | | | | | 393 | | Credit cards: | | | | | | | | | | | | | | | | | | Performing loans | — | | | — | | | — | | | — | | | — | | | — | | | 192 | | | | | 192 | | | | | | | | | | | | | | | | | | | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | — | | | 3 | | | | | 3 | | Total credit cards | — | | | — | | | — | | | — | | | — | | | — | | | 195 | | | | | 195 | | Other consumer: | | | | | | | | | | | | | | | | | | Performing loans | — | | | — | | | 3 | | | 8 | | | 4 | | | 59 | | | 4 | | | | | 78 | | | | | | | | | | | | | | | | | | | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | 1 | | | — | | | | | 1 | | Total other consumer | — | | | — | | | 3 | | | 8 | | | 4 | | | 60 | | | 4 | | | | | 79 | | Total consumer | $ | 4,284 | | | $ | 2,400 | | | $ | 2,688 | | | $ | 3,949 | | | $ | 2,633 | | | $ | 5,549 | | | $ | 199 | | | | | $ | 21,702 | | Total consumer: | | | | | | | | | | | | | | | | | | Performing loans | $ | 4,284 | | | $ | 2,395 | | | $ | 2,678 | | | $ | 3,941 | | | $ | 2,623 | | | $ | 5,402 | | | $ | 196 | | | | | $ | 21,519 | | Nonaccrual loans | — | | | 5 | | | 10 | | | 8 | | | 10 | | | 146 | | | — | | | | | 179 | | Accruing loans contractually past due 90 days or more | — | | | — | | | — | | | — | | | — | | | 1 | | | 3 | | | | | 4 | | Total consumer | $ | 4,284 | | | $ | 2,400 | | | $ | 2,688 | | | $ | 3,949 | | | $ | 2,633 | | | $ | 5,549 | | | $ | 199 | | | | | $ | 21,702 | |
Gross Charge-offs The following table summarizes gross charge-off dollars in our consumer loan portfolio, disaggregated by year of origination, during the six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving Loans | | | | Total | | (in millions) | Six Months Ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Credit cards | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4 | | | | | $ | 4 | | | | | | | | | | | | | | | | | | | | Total consumer | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4 | | | | | $ | 4 | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving Loans | | | | Total | | (in millions) | Six Months Ended June 30, 2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Credit cards | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4 | | | | | $ | 4 | | | | | | | | | | | | | | | | | | | | Total consumer | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4 | | | | | $ | 4 | |
Concentration of Credit Risk At June 30, 2025 and December 31, 2024, our loan portfolios included interest-only residential mortgage and home equity mortgage loans totaling $4,705 million and $4,650 million, respectively. An interest-only residential mortgage loan allows a customer to pay the interest-only portion of the monthly payment for a period of time which results in lower payments during the initial loan period. However, subsequent events affecting a customer's financial position could affect the ability of customers to repay the loan in the future when the principal payments are required which increases the credit risk of this loan type.
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