Loans and Loans Held for Sale

9 Months Ended

Sep. 30, 2012

Loans and Loans Held for Sale

3.  Loans and Loans Held for Sale

Our loans by category are summarized as follows:

in millions	September 30, 2012		December 31, 2011		September 30, 2011
Commercial, financial and agricultural(a)	$	21,979	$	19,759	$	17,848
Commercial real estate:
Commercial mortgage		7,529		8,037		7,958
Construction		1,067		1,312		1,456
Total commercial real estate loans		8,596		9,349		9,414
Commercial lease financing		4,960		5,674		5,957
Total commercial loans		35,535		34,782		33,219
Residential — prime loans:
Real estate — residential mortgage		2,138		1,946		1,875
Home equity:
Key Community Bank		9,768		9,229		9,347
Other		409		535		565
Total home equity loans		10,177		9,764		9,912
Total residential — prime loans		12,315		11,710		11,787
Consumer other — Key Community Bank		1,313		1,192		1,187
Credit cards		710		—		—
Consumer other:
Marine		1,448		1,766		1,871
Other		98		125		131
Total consumer other		1,546		1,891		2,002
Total consumer loans		15,884		14,793		14,976
Total loans (b) (c)	$	51,419	$	49,575	$	48,195

(a) September 30, 2012 loan balance includes $88 million of commercial credit card balances.

(b) Excluded at September 30, 2012, December 31, 2011, and September 30, 2011, are loans in the amount of $5.3 billion, $5.8 billion and $6.0 billion, respectively, related to the discontinued operations of the education lending business.

(c) September 30, 2012 includes purchased loans of $231 million of which $25 million were PCI loans.

Our loans held for sale are summarized as follows:

in millions	September 30, 2012		December 31, 2011		September 30, 2011
Commercial, financial and agricultural	$	13	$	19	$	29
Real estate — commercial mortgage		484		567		325
Real estate — construction		10		35		20
Commercial lease financing		4		12		26
Real estate — residential mortgage		117		95		79
Total loans held for sale	$	628	$	728	$	479

Our quarterly summary of changes in loans held for sale as follows:

in millions	September 30, 2012		December 31, 2011		September 30, 2011
Balance at beginning of the period	$	656	$	479	$	381
New originations		1,280		1,235		853
Transfers from held to maturity, net		13		19		23
Loan sales		(1,311)		(932)		(759)
Loan draws (payments), net		(9)		(72)		1
Transfers to OREO / valuation adjustments		(1)		(1)		(20)
Balance at end of period	$	628	$	728	$	479