Loans and Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2013

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Loans by Category

Our loans by category are summarized as follows: 

in millions	March 31,                                 2013		December 31,                                 2012		March 31,                                 2012
Commercial, financial and agricultural (a)	$	23,412	$	23,242	$	20,217
Commercial real estate:
Commercial mortgage		7,544		7,720		7,807
Construction		1,057		1,003		1,273
Total commercial real estate loans		8,601		8,723		9,080
Commercial lease financing		4,796		4,915		5,325
Total commercial loans		36,809		36,880		34,622
Residential — prime loans:
Real estate — residential mortgage		2,176		2,174		1,967
Home equity:
Key Community Bank		9,809		9,816		9,153
Other		401		423		507
Total home equity loans		10,210		10,239		9,660
Total residential — prime loans		12,386		12,413		11,627
Consumer other — Key Community Bank		1,353		1,349		1,212
Credit cards		693		729		—
Consumer other:
Marine		1,254		1,358		1,654
Other		79		93		111
Total consumer other		1,333		1,451		1,765
Total consumer loans		15,765		15,942		14,604
Total loans (b) (c)	$	52,574	$	52,822	$	49,226

(a) March 31, 2013 and December 31, 2012 loan balances includes $93 million and $90 million of commercial credit card balances, respectively.

(b) Excluded at March 31, 2013, December 31, 2012, and March 31, 2012, are loans in the amount of $5.1 billion, $5.2 billion and $5.7 billion, respectively, related to the discontinued operations of the education lending business.

(c) March 31, 2013 includes purchased loans of $204 million of which $22 million were PCI loans. December 31, 2012 includes purchased loans of $217 million of which $23 million were PCI loans.

Loans Held for Sale

Our loans held for sale are summarized as follows: 

in millions	March 31,                                  2013		December 31,                                     2012		March 31,                                  2012
Commercial, financial and agricultural	$	180	$	29	$	28
Real estate — commercial mortgage		196		477		362
Real estate — construction		—		—		15
Commercial lease financing		9		8		30
Real estate — residential mortgage		49		85		76
Total loans held for sale	$	434	$	599	$	511

Summary of Changes in Loans Held for Sale

Our quarterly summary of changes in loans held for sale as follows: 

in millions	March 31,                               2013		December 31,                                 2012		March 31,                               2012
Balance at beginning of the period	$	599	$	628	$	728
New originations		1,075		1,686		935
Transfers from held to maturity, net		19		38		19
Loan sales		(1,257)		(1,747)		(1,168)
Loan draws (payments), net		—		(4)		(3)
Transfers to OREO / valuation adjustments		(2)		(2)		—
Balance at end of period	$	434	$	599	$	511