The Cleveland-based bank took a hit from a large bond sale, leading to a quarterly loss. But net interest income rose, and the company expects that metric to hit a key milestone in the fourth quarter.

The bank is working with The Clearing House and real estate tech company EMTransfer and is hoping to cut paper and time from the process of selling property.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

Alexander most recently headed up mortgage lending and before that co-led the integration of Key's acquisition of First Niagara. He replaces Dennis Devine, who recently left the company.

Consumers’ desire to shop online is creating huge demand for distribution centers and forcing property owners to think creatively about redeveloping vacant retail space. Meanwhile, hundreds of billions of dollars will be spent rebuilding areas hard hit by hurricanes and wildfires.

Executives at BB&T, KeyCorp and Citizens are milking commercial lending niches and balancing cost control with new investments while waiting for more rate hikes to fatten margins.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs.