KeyBank 2014 Annual Report Download - page 79

Figure 24 shows the composition, yields, and remaining maturities of our securities available for sale. For more
information about these securities, including gross unrealized gains and losses by type of security and securities
pledged, see Note 7 (“Securities”).
Figure 24. Securities Available for Sale
dollars in millions
States and
Political
Subdivisions
Collateralized
Mortgage
Obligations (a)
Other
Mortgage-
Backed
Securities (a)
Other
Securities (b) Total
Weighted-
Average
Yield (c)
December 31, 2014
Remaining maturity:
One year or less $ 1 $ 278 — — $ 279 3.18%
After one through five years 15 10,956 $ 2,028 $ 32 13,031 2.21
After five through ten years 7 36 4 — 47 2.54
After ten years — — 3 — 3 5.51
Fair value $ 23 $ 11,270 $ 2,035 $ 32 $ 13,360 —
Amortized cost 22 11,310 2,004 29 13,365 2.24%
Weighted-average yield (c) 4.61 % 2.22 % 2.28 % 9.50 % 2.24 % (d) —
Weighted-average maturity 4.4 years 3.6 years 3.6 years 3.7 years 3.6 years —
December 31, 2013
Fair value $ 40 $ 11,000 $ 1,286 $ 20 $ 12,346 —
Amortized cost 39 11,120 1,270 17 12,446 2.33%
December 31, 2012
Fair value $ 49 $ 11,464 $ 538 $ 43 $ 12,094 —
Amortized cost 47 11,148 491 42 11,728 2.91%
(a) Maturity is based upon expected average lives rather than contractual terms.
(b) Includes primarily marketable equity securities.
(c) Weighted-average yields are calculated based on amortized cost. Such yields have been adjusted to a taxable-equivalent basis using the
statutory federal income tax rate of 35%.
(d) Excludes $22 million of securities at December 31, 2014, that have no stated yield.
Held-to-maturity securities
Federal Agency CMOs and mortgage-backed securities constitute essentially all of our held-to-maturity
securities. The remaining balance comprises foreign bonds and capital securities. Figure 25 shows the
composition, yields and remaining maturities of these securities.
Figure 25. Held-to-Maturity Securities
dollars in millions
Collateralized
Mortgage
Obligations
Other
Mortgage-
backed
Securities
Other
Securities Total
Weighted-
Average
Yield (a)
December 31, 2014
Remaining maturity:
One year or less — — $ 9 $ 9 2.42 %
After one through five years $ 4,672 — 11 4,683 1.91
After five through ten years 83 $ 240 — 323 2.58
Amortized cost $ 4,755 $ 240 $ 20 $ 5,015 1.95 %
Fair value 4,713 241 20 4,974 —
Weighted-average yield 1.91 2.73 % 2.47 % (b) 1.95 % (b) —
Weighted-average maturity 3.4 years 7.7 years 1.5 years 3.6 years —
December 31, 2013
Amortized cost $ 4,736 — $ 20 $ 4,756 1.83 %
Fair value 4,597 — 20 4,617 —
December 31, 2012
Amortized cost $ 3,913 $ — $ 18 $ 3,931 1.92 %
Fair value 3,974 — 18 3,992 —
(a) Weighted-average yields are calculated based on amortized cost. Such yields have been adjusted to a taxable-equivalent basis using the
statutory federal income tax rate of 35%.
(b) Excludes $5 million of securities at December 31, 2014, that have no stated yield.
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