Loans and Loans Held for Sale

6 Months Ended

Jun. 30, 2011

Loans and Loans Held for Sale [Abstract]

Loans and Loans Held for Sale

3. Loans and Loans Held for Sale

Our loans by category are summarized as follows:

	June 30,		December 31,		June 30,
in millions	2011		2010		2010
Commercial, financial and agricultural	$	16,883	$	16,441	$	17,113
Commercial real estate:
Commercial mortgage		8,069		9,502		9,971
Construction		1,631		2,106		3,430
Total commercial real estate loans		9,700		11,608		13,401
Commercial lease financing		6,105		6,471		6,620
Total commercial loans		32,688		34,520		37,134
Residential — prime loans:
Real estate — residential mortgage		1,838		1,844		1,846
Home equity:
Key Community Bank		9,431		9,514		9,775
Other		595		666		753
Total home equity loans		10,026		10,180		10,528
Total residential — prime loans		11,864		12,024		12,374
Consumer other — Key Community Bank		1,157		1,167		1,147
Consumer other:
Marine		1,989		2,234		2,491
Other		142		162		188
Total consumer other		2,131		2,396		2,679
Total consumer loans		15,152		15,587		16,200
Total loans (a)	$	47,840	$	50,107	$	53,334

(a) Excludes loans in the amount of $6.3 billion, $6.5 billion and $6.6 billion at June 30, 2011, December 31, 2010 and June 30, 2010, respectively, related to the discontinued operations of the education lending business.

Our loans held for sale are summarized as follows:

	June 30,		December 31,			June 30,
in millions	2011		2010			2010
Commercial, financial and agricultural	$	80	$	196		$	255
Real estate — commercial mortgage		198		118			235
Real estate — construction		39		35			112
Commercial lease financing		6		8			16
Real estate — residential mortgage		58		110			81
Total loans held for sale	$	381	$	467	(a)	$	699

(a) Excludes loans in the amount of $15 million and $92 million at December 31, 2010, and June 30, 2010, respectively, related to the discontinued operations of the education lending business. There were no loans held for sale in the discontinued operations of the education lending business at June 30, 2011.

Our summary of changes in loans held for sale follows:

	June 30,			December 31,			June 30,
in millions	2011			2010			2010
Balance at beginning of period	$	426		$	637		$	556
New originations		914			1,053			812
Transfers from held to maturity, net		16			—			65
Loan sales		(1,039	)		(1,174	)		(712	)
Loan draws (payments), net		73			(49	)		(16	)
Transfers to OREO / valuation adjustments		(9	)		—			(6	)
Balance at end of period	$	381		$	467		$	699