Loans and Loans Held for Sale

3 Months Ended

Mar. 31, 2012

Loans and Loans Held for Sale [Abstract]

Loans and Loans Held for Sale

3. Loans and Loans Held for Sale

Our loans by category are summarized as follows:

	March 31,		December 31,		March 31,
in millions	2012		2011		2011
Commercial, financial and agricultural	$	19,787	$	19,378	$	16,440
Commercial real estate:
Commercial mortgage		7,807		8,037		8,806
Construction		1,273		1,312		1,845
Total commercial real estate loans		9,080		9,349		10,651
Commercial lease financing		5,755		6,055		6,207
Total commercial loans		34,622		34,782		33,298
Residential — prime loans:
Real estate — residential mortgage		1,967		1,946		1,803
Home equity:
Key Community Bank		9,153		9,229		9,421
Other		507		535		627
Total home equity loans		9,660		9,764		10,048
Total residential — prime loans		11,627		11,710		11,851
Consumer other — Key Community Bank		1,212		1,192		1,141
Consumer other:
Marine		1,654		1,766		2,112
Other		111		125		150
Total consumer other		1,765		1,891		2,262
Total consumer loans		14,604		14,793		15,254
Total loans (a)	$	49,226	$	49,575	$	48,552

(a) Excludes loans in the amount of $5.7 billion, $5.8 billion and $6.3 billion at March 31, 2012, December 31, 2011, and March 31, 2011, respectively, related to the discontinued operations of the education lending business.

Our loans held for sale are summarized as follows:

	March 31,		December 31,		March 31,
in millions	2012		2011		2011
Commercial, financial and agricultural	$	28	$	19	$	19
Real estate — commercial mortgage		362		567		287
Real estate — construction		15		35		61
Commercial lease financing		30		12		7
Real estate — residential mortgage		76		95		52
Total loans held for sale (a)	$	511	$	728	$	426

(a) Excludes loans in the amount of $14 million at March 31, 2011, related to the discontinued operations of the education lending business. There were no loans held for sale in the discontinued operations of the education lending business at March 31, 2012 and December 31, 2011.

Our summary of changes in loans held for sale follows:

	March 31,		December 31,		March 31,
in millions	2012		2011		2011
Balance at beginning of the period	$	728	$	479	$	467
New originations		935		1,235		980
Transfers from held to maturity, net		19		19		32
Loan sales		(1,168)		(932)		(991)
Loan draws (payments), net		(3)		(72)		(62)
Transfers to OREO / valuation adjustments		—		(1)		—
Balance at end of perod	$	511	$	728	$	426