Loan and Loan Held for Sale (Tables)

12 Months Ended

Dec. 31, 2012

Our loans by category are summarized as follows:


December 31,
in millions	2012		2011

Commercial, financial and agricultural^(b)	$	23,242	$	19,759
Commercial real estate:
Commercial mortgage		7,720		8,037
Construction		1,003		1,312
Total commercial real estate loans		8,723		9,349
Commercial lease financing		4,915		5,674
Total commercial loans		36,880		34,782
Residential — Prime Loans:
Real estate — residential mortgage		2,174		1,946
Home equity:
Key Community Bank		9,816		9,229
Other		423		535
Total home equity loans		10,239		9,764
Total residential — prime loans		12,413		11,710
Consumer other — Key Community Bank		1,349		1,192
Credit cards		729		—
Consumer other:
Marine		1,358		1,766
Other		93		125
Total consumer other		1,451		1,891
Total consumer loans		15,942		14,793
Total loans ^(a) (c)	$	52,822	$	49,575

(a)	Excludes loans in the amount of $5.2 billion at December 31, 2012, and $5.8 billion at December 31, 2011, related to the discontinued operations of the education lending business.

(b)	December 31, 2012, loan balance includes $90 million of commercial credit card balances.

(c)	December 31, 2012, includes purchased loans of $217 million of which $23 million were PCI loans.

Our loans held for sale by category are summarized as follows:


December 31,
in millions	2012		2011

Commercial, financial and agricultural	$	29	$	19
Real estate — commercial mortgage		477		567
Real estate — construction		—		35
Commercial lease financing		8		12
Real estate — residential mortgage		85		95
Total loans held for sale ^(a)	$	599	$	728

(a)	There were no loans held for sale in the discontinued operations of the education lending business at December 31, 2012, and December 31, 2011.

Our summary of changes in loans held for sale follows:


December 31,
in millions	2012		2011

Balance at beginning of the period	$	728	$	467
New originations		5,209		3,982
Transfers from held to maturity, net		77		90
Loan sales		(5,391)		(3,721)
Loan draws (payments), net		(20)		(60)
Transfers to OREO / valuation adjustments		(4)		(30)
Balance at end of period	$	599	$	728

The composition of the net investment in direct financing leases is as follows:


December 31,
in millions	2012		2011

Direct financing lease receivables	$	3,429	$	4,143
Unearned income		(260)		(368)
Unguaranteed residual value		261		308
Deferred fees and costs		25		31
Net investment in direct financing leases	$	3,455	$	4,114