By Allison Prang
Here is a look at credit quality at some of the country's banking companies for the fourth quarter as the Covid-19 pandemic continues to weigh on consumers and businesses.
--The provision for credit losses was $177M, down from $421M for 3Q.
--Nonperforming loans and leases as a percentage of loans and leases, including loans held for sale, were 0.44%. They increased from 0.4% in 3Q.
--Net charge-offs as a percentage of average loans and leases on an annualized basis were 0.27%, a drop from 0.42% in 3Q.
--The company logged a benefit from credit losses of $13 million, compared with a $15 million benefit for 3Q.
--The company's NPL ratio was 0.77%. It declined from 0.8% in 3Q.
--Fifth Third's net charge-off ratio was 0.43%, up from 0.35% in 3Q.
--The provision for credit losses was $20 million, down from $160 million in 3Q, Key said.
--Nonperforming loans as a percentage of portfolio loans at the end of the period ere 0.78%, Key said. For 3Q, they were 0.81%.
--Net loan charge-offs to average total loans were 0.53%. That metric increased from 0.49% in 3Q.
--M&T's provision for credit losses was $75 million, down from $150 million in 3Q.
--Nonaccrual loans as a percentage of outstanding loans were 1.92%. That rose from 1.26% in 3Q.
--Net charge-offs as a percentage of average loans on an annualized basis were 0.39%, up from 0.12% in 3Q.
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(END) Dow Jones Newswires
January 21, 2021 08:34 ET (13:34 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.