Company: KEY-PI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048757
Chunk: 26

Company: KEYCORP /NEW/
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 26
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3 Transportation841 126 291 1,258 1.7 Utilities7,186 — 412 7,598 10.6 Other380 60 5 445 0.7 Total$52,909 $16,246 $2,736 $71,891 100.0 %

Commercial and industrial. Commercial and industrial loans are the largest component of our loan portfolio, representing 54% of our total loan portfolio at September 30, 2025, and 51% at December 31, 2024. This portfolio is approximately 91% variable rate and consists of loans originated primarily to large corporate, middle market, and small business clients.

Commercial and industrial loans totaled $56.8 billion at September 30, 2025, an increase of $3.9 billion, or 7.3%, compared to December 31, 2024. The increase was broad-based, spread across multiple industry categories.

Commercial real estate loans. Our commercial real estate portfolio includes project loans primarily focused in market-rate and affordable multi-family housing loans, owner-occupied commercial and industrial operating company buildings, and community center grocer-anchored retail centers. These three commercial real estate segments make up 72% of our commercial real estate portfolio. Our non-owner-occupied portfolio is focused on operators of commercial real estate who not only utilize our loan products, but also utilize our broader industry-focused products and services and provide consistent pipelines into our agency, CMBS, and other long-term market 

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take out products. This focus ensures our relationship clients foster and build portfolios with stable, recurring cash flows, with adequate, balanced cash reserves to support our balance sheet exposures through the economic cycle. 

At September 30, 2025, commercial real estate loans totaled $16.2 billion, which includes $13.4 billion of mortgage loans and $2.8 billion of construction loans. Compared to December 31, 2024, this portfolio decreased only $51 million, or 0.3%. Nonowner-occupied properties, generally properties for which at least 50% of the debt service is provided by rental income from nonaffiliated third parties, represented 81% of total commercial real estate loans outstanding at September 30, 2025.

Our overall construction loans constitute 17% of commercial real estate loans as of September 30, 2025, compared to 21% as of December 31, 2024