KeyBank 2014 Annual Report Download - page 57

Figure 5. Consolidated Average Balance Sheets, Net Interest Income and Yields/Rates from Continuing Operations
2014 2013
Year ended December 31,
dollars in millions
Average
Balance Interest (a)
Yield/
Rate (a)
Average
Balance Interest (a)
Yield/
Rate (a)
ASSETS
Loans: (b), (c)
Commercial, financial and agricultural $ 26,375 (d) $ 866 3.28 % $ 23,723 (d) $ 855 3.60 %
Real estate — commercial mortgage 7,999 303 3.79 7,591 312 4.11
Real estate — construction 1,061 43 4.07 1,058 45 4.25
Commercial lease financing 4,239 156 3.67 4,683 172 3.67
Total commercial loans 39,674 1,368 3.45 37,055 1,384 3.73
Real estate — residential mortgage 2,201 96 4.37 2,185 98 4.49
Home equity:
Key Community Bank 10,340 405 3.91 10,086 397 3.93
Other 299 23 7.80 377 29 7.70
Total home equity loans 10,639 428 4.02 10,463 426 4.07
Consumer other — Key Community Bank 1,501 104 6.92 1,404 103 7.33
Credit cards 712 78 10.95 701 83 11.86
Consumer other:
Marine 894 56 6.22 1,172 74 6.26
Other 58 4 7.70 74 6 8.32
Total consumer other 952 60 6.31 1,246 80 6.38
Total consumer loans 16,005 766 4.79 15,999 790 4.94
Total loans 55,679 2,134 3.83 53,054 2,174 4.10
Loans held for sale 570 21 3.76 532 20 3.72
Securities available for sale (b), (e) 12,210 277 2.27 12,689 311 2.49
Held-to-maturity securities (b) 4,949 93 1.88 4,387 82 1.87
Trading account assets 932 25 2.70 756 21 2.78
Short-term investments 2,886 6 .21 2,948 6 .20
Other investments (e) 865 22 2.53 1,028 29 2.84
Total earning assets 78,091 2,578 3.30 75,394 2,643 3.51
Allowance for loan and lease losses (818) (879)
Accrued income and other assets 9,806 9,662
Discontinued assets 3,828 5,036
Total assets $ 90,907 $ 89,213
LIABILITIES
NOW and money market deposit accounts $ 34,283 48 .14 $ 32,846 53 .16
Savings deposits 2,446 1 .02 2,505 1 .04
Certificates of deposit ($100,000 or more) (f) 2,616 35 1.35 2,829 50 1.76
Other time deposits 3,495 32 .91 4,084 53 1.30
Deposits in foreign office 615 1 .23 567 1 .23
Total interest-bearing deposits 43,455 117 .27 42,831 158 .37
Federal funds purchased and securities sold under repurchase agreements 1,182 2 .16 1,802 2 .13
Bank notes and other short-term borrowings 597 9 1.49 394 8 1.89
Long-term debt (f), (g) 5,161 133 2.68 4,184 127 3.28
Total interest-bearing liabilities 50,395 261 .52 49,211 295 .60
Noninterest-bearing deposits 24,410 23,046
Accrued expense and other liabilities 1,791 1,656
Discontinued liabilities (g) 3,828 4,995
Total liabilities 80,424 78,908
EQUITY
Key shareholders’ equity 10,467 10,276
Noncontrolling interests 16 29
Total equity 10,483 10,305
Total liabilities and equity $ 90,907 $ 89,213
Interest rate spread (TE) 2.78 % 2.91 %
Net interest income (TE) and net interest margin (TE) 2,317 2.97 % 2,348 3.12 %
TE adjustment (b) 24 23
Net interest income, GAAP basis $ 2,293 $ 2,325
(a) Results are from continuing operations. Interest excludes the interest associated with the liabilities referred to in (g) below, calculated using a matched funds
transfer pricing methodology.
(b) Interest income on tax-exempt securities and loans has been adjusted to a taxable-equivalent basis using the statutory federal income tax rate of 35%.
(c) For purposes of these computations, nonaccrual loans are included in average loan balances.
(d) Commercial, financial and agricultural average balances include $93 million, $95 million, and $36 million of assets from commercial credit cards for the years
ended December 31, 2014, December 31, 2013, and December 31, 2012, respectively.
44