KeyBank 2014 Annual Report Download - page 144

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4. Loans and Loans Held for Sale
Our loans by category are summarized as follows:
December 31,
in millions 2014 2013
Commercial, financial and agricultural (a) $ 27,982 $ 24,963
Commercial real estate:
Commercial mortgage 8,047 7,720
Construction 1,100 1,093
Total commercial real estate loans 9,147 8,813
Commercial lease financing (b) 4,252 4,551
Total commercial loans 41,381 38,327
Residential — Prime Loans:
Real estate — residential mortgage 2,225 2,187
Home equity:
Key Community Bank 10,366 10,340
Other 267 334
Total home equity loans 10,633 10,674
Total residential — prime loans 12,858 12,861
Consumer other — Key Community Bank 1,560 1,449
Credit cards 754 722
Consumer other:
Marine 779 1,028
Other 49 70
Total consumer other 828 1,098
Total consumer loans 16,000 16,130
Total loans (c) (d) $ 57,381 $ 54,457
(a) Loan balances include $88 million and $94 million of commercial credit card balances at December 31, 2014, and December 31, 2013,
respectively.
(b) Commercial lease financing includes receivables of $302 million and $58 million held as collateral for a secured borrowing at
December 31, 2014, and December 31, 2013, respectively. Principal reductions are based on the cash payments received from these
related receivables. We expect to record additional commercial lease financing receivables held as collateral for a secured borrowing
through the first quarter of 2015. Additional information pertaining to this secured borrowing is included in Note 18 (“Long-Term
Debt”).
(c) At December 31, 2014, total loans include purchased loans of $138 million, of which $13 million were PCI loans. At December 31,
2013, total loans include purchased loans of $166 million, of which $16 million were PCI loans.
(d) Total loans exclude loans in the amount of $2.3 billion at December 31, 2014, and $4.5 billion at December 31, 2013, related to the
discontinued operations of the education lending business.
We use interest rate swaps, which modify the repricing characteristics of certain loans, to manage interest rate
risk. For more information about such swaps, see Note 8 (“Derivatives and Hedging Activities”).
Our loans held for sale by category are summarized as follows:
December 31,
in millions 2014 2013
Commercial, financial and agricultural $63$ 278
Real estate — commercial mortgage 638 307
Commercial lease financing 15 9
Real estate — residential mortgage 18 17
Total loans held for sale $ 734 $ 611
131