Regions Bank 2010 Annual Report Download - page 117

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Table 24—Allowance for Credit Losses
2010 2009 2008
(In millions)
Allowance for loan losses at January 1 ........................................ $ 3,114 $ 1,826 $ 1,321
Loans charged-off:
Commercial and industrial .............................................. 429 384 235
Commercial real estate mortgage—owner occupied .......................... 225 89 60
Commercial real estate construction—owner occupied ....................... 25 19 12
Commercial investor real estate mortgage .................................. 879 590 328
Commercial investor real estate construction ............................... 565 488 556
Residential first mortgage .............................................. 240 206 83
Equity .............................................................. 432 442 243
Indirect ............................................................. 34 68 56
Other consumer ...................................................... 83 83 66
2,912 2,369 1,639
Recoveries of loans previously charged-off:
Commercial and industrial .............................................. 33 28 26
Commercial real estate mortgage—owner occupied .......................... 11 6 5
Commercial real estate construction—owner occupied ....................... 1 1 2
Commercial investor real estate mortgage .................................. 14 8 4
Commercial investor real estate construction ............................... 10 4 3
Residential first mortgage .............................................. 2 4 2
Equity .............................................................. 18 27 17
Indirect ............................................................. 15 21 15
Other consumer ...................................................... 16 17 18
120 116 92
Net charge-offs:
Commercial and industrial .............................................. 396 356 209
Commercial real estate mortgage—owner occupied .......................... 214 83 55
Commercial real estate construction—owner occupied ....................... 24 18 10
Commercial investor real estate mortgage .................................. 865 582 324
Commercial investor real estate construction ............................... 555 484 553
Residential first mortgage .............................................. 238 202 81
Equity .............................................................. 414 415 226
Indirect ............................................................. 19 47 41
Other consumer ...................................................... 67 66 48
2,792 2,253 1,547
Allowance allocated to sold loans and loans transferred to loans held for sale — — (5)
Provision for loan losses from continuing operations ............................. 2,863 3,541 2,057
Allowance for loan losses at December 31 ..................................... 3,185 3,114 1,826
Reserve for unfunded credit commitments at January 1 ........................... 74 74 58
Provision for unfunded credit commitments ................................ (3) — 16
Reserve for unfunded credit commitments at December 31 ........................ 71 74 74
Allowance for credit losses ................................................. $ 3,256 $ 3,188 $ 1,900
Loans, net of unearned income, outstanding at end of period ....................... $82,864 $90,674 $97,419
Average loans, net of unearned income outstanding for the period .................. $86,660 $94,523 $97,601
Ratios:
Allowance for loan losses at end of period to loans, net of unearned income .... 3.84% 3.43% 1.87%
Allowance for loan losses at end of period to non-performing loans, excluding
loans held for sale ............................................... 1.01x 0.89x 1.74x
Net charge-offs as percentage of:
Average loans, net of unearned income ............................. 3.22 2.38 1.59
Provision for loan losses ........................................ 97.5 63.6 75.2
103