KeyBank 2007 Annual Report Download - page 37

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35
MANAGEMENT’S DISCUSSION & ANALYSIS OF FINANCIAL CONDITION & RESULTS OF OPERATIONS KEYCORP AND SUBSIDIARIES
status of Key’s response to the IRS ruling, and the potential effect on
Key’s results of operations and capital in the event of an adverse
outcome is included in Note 17 (“Income Taxes”) under the heading
“Lease Financing Transactions” on page 96.
FINANCIAL CONDITION
Loans and loans held for sale
Figure 16 shows the composition of Key’s loan portfolio at December
31 for each of the past five years.
December 31, 2007 2006 2005
dollars in millions Amount % of Total Amount % of Total Amount % of Total
COMMERCIAL
Commercial, financial and agricultural $24,797 35.0% $21,412 32.5% $20,579 31.0%
Commercial real estate:
a
Commercial mortgage 9,630 13.6 8,426 12.8 8,360 12.6
Construction 8,102 11.4 8,209 12.5 7,109 10.7
Total commercial real estate loans 17,732 25.0 16,635 25.3 15,469 23.3
Commercial lease financing 10,176 14.4 10,259 15.6 10,352 15.5
Total commercial loans 52,705 74.4 48,306 73.4 46,400 69.8
CONSUMER
Real estate — residential mortgage 1,594 2.3 1,442 2.2 1,458 2.2
Home equity 10,917 15.4 10,826 16.4 13,488 20.3
Consumer — direct 1,298 1.8 1,536 2.3 1,794 2.7
Consumer — indirect:
Automobile lease financing —— — — 19 —
Automobile loans —— —— ——
Marine 3,637 5.2 3,077 4.7 2,715 4.1
Other 672 .9 639 1.0 604 .9
Total consumer — indirect loans 4,309 6.1 3,716 5.7 3,338 5.0
Total consumer loans 18,118 25.6 17,520 26.6 20,078 30.2
Total $70,823 100.0% $65,826 100.0% $66,478 100.0%
2004 2003
Amount % of Total Amount % of Total
COMMERCIAL
Commercial, financial and agricultural $18,730 29.6% $16,336 27.3%
Commercial real estate:
a
Commercial mortgage 8,131 12.8 6,329 10.6
Construction 5,508 8.7 4,977 8.3
Total commercial real estate loans 13,639 21.5 11,306 18.9
Commercial lease financing 10,155 16.0 7,939 13.3
Total commercial loans 42,524 67.1 35,581 59.5
CONSUMER
Real estate — residential mortgage 1,473 2.3 1,643 2.8
Home equity 14,062 22.2 15,038 25.2
Consumer — direct 1,983 3.1 2,114 3.5
Consumer — indirect:
Automobile lease financing 89 .1 305 .5
Automobile loans — — 2,025 3.4
Marine 2,624 4.2 2,506 4.2
Other 617 1.0 542 .9
Total consumer — indirect loans 3,330 5.3 5,378 9.0
Total consumer loans 20,848 32.9 24,173 40.5
Total $63,372 100.0% $59,754 100.0%
a
See Figure 17 for a more detailed breakdown of Key’s commercial real estate loan portfolio at December 31, 2007.
FIGURE 16. COMPOSITION OF LOANS