KeyBank 2014 Annual Report Download - page 145
Download and view the complete annual report
Please find page 145 of the 2014 KeyBank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
 |
 |
Our summary of changes in loans held for sale follows:
Year ended December 31,
in millions 2014 2013
Balance at beginning of the period $ 611 $ 599
New originations 5,681 5,452
Transfers from (to) held to maturity, net (3) 52
Loan sales (5,289) (5,480)
Loan draws (payments), net (266) (12)
Balance at end of period $ 734 $ 611
Commercial lease financing receivables primarily are direct financing leases, but also include leveraged leases.
The composition of the net investment in direct financing leases is as follows:
December 31,
in millions 2014 2013
Direct financing lease receivables $ 3,009 $ 3,176
Unearned income (205) (219)
Unguaranteed residual value 220 231
Deferred fees and costs 18 21
Net investment in direct financing leases $ 3,042 $ 3,209
At December 31, 2014, minimum future lease payments to be received are as follows: 2015 — $1 billion; 2016
— $767 million; 2017 — $474 million; 2018 — $276 million; 2019 — $156 million; and all subsequent years —
$169 million. The allowance related to lease financing receivables is $56 million at December 31, 2014.
5. Asset Quality
We assess the credit quality of the loan portfolio by monitoring net credit losses, levels of nonperforming assets
and delinquencies, and credit quality ratings as defined by management.
Our nonperforming assets and past due loans were as follows:
December 31,
in millions 2014 2013
Total nonperforming loans (a) $ 418 $ 508
Nonperforming loans held for sale —1
OREO 18 15
Other nonperforming assets —7
Total nonperforming assets $ 436 $ 531
Nonperforming assets from discontinued operations — education lending (b) $11$25
Restructured loans included in nonperforming loans $ 157 $ 214
Restructured loans with an allocated specific allowance (c) 82 71
Specifically allocated allowance for restructured loans (d) 34 35
Accruing loans past due 90 days or more $96$71
Accruing loans past due 30 through 89 days 235 318
(a) Loan balances exclude $13 million and $16 million of PCI loans at December 31, 2014, and December 31, 2013, respectively.
(b) Includes restructured loans of approximately $17 million and $13 million at December 31, 2014, and December 31, 2013, respectively.
See Note 13 (“Acquisitions and Discontinued Operations”) for further discussion.
(c) Included in individually impaired loans allocated a specific allowance.
(d) Included in allowance for individually evaluated impaired loans.
132