Machine learning predictions based on historical earnings data and price patterns
1-Day Prediction
+1.49%
$23.31
100% positive prob.
5-Day Prediction
+5.07%
$24.13
100% positive prob.
20-Day Prediction
+5.55%
$24.24
95% positive prob.
SEC 8-K filings with transcript text
Jul 21, 2026 · 100% conf.
1D
+1.49%
$23.31
Act: +0.61%
5D
+5.07%
$24.13
Act: -1.48%
20D
+5.55%
$24.24
4 a2q26erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20263/31/20266/30/2025
Assets
Loans$110,430 $109,190 $106,389
Loans held for sale 1,198 876 530
Securities available for sale38,459 38,918 40,669
Held-to-maturity securities9,515 9,116 6,914
Trading account assets936 783 1,374
Short-term investments12,416 11,782 11,564
Other investments1,230 1,204 1,058
Total earning assets174,184 171,869 168,498
Allowance for loan and lease losses(1,445)(1,449)(1,446)
Cash and due from banks1,711 1,130 1,766
Premises and equipment620 618 599
Goodwill2,752 2,752 2,752
Other intangible assets3 5 18
Corporate-owned life insurance4,456 4,439 4,423
Accrued income and other assets8,848 9,100 8,654
Discontinued assets188 199 235
Total assets$191,317 $188,663 $185,499
Liabilities
Deposits in domestic offices:
Interest-bearing deposits122,196 120,220 119,230
Noninterest-bearing deposits30,893 27,595 27,675
Total deposits153,089 147,815 146,905
Federal funds purchased and securities sold under repurchase agreements 5 34 20
Bank notes and other short-term borrowings3,680 6,149 2,754
Accrued expense and other liabilities3,778 3,801 4,273
Long-term debt10,967 10,877 12,063
Total liabilities171,519 168,676 166,015
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,014 5,981 5,971
Retained earnings15,873 15,622 14,886
Treasury stock, at cost(3,492)(3,152)(2,629)
Accumulated other comprehensive income (loss)(2,354)(2,221)(2,501)
Total equity19,798 19,987 19,484
Total liabilities and equity$191,317 $188,663 $185,499
Common shares outstanding (000)1,072,035 1,087,293 1,112,453
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedSix months ended
6/30/20263/31/20266/30/20256/30/20266/30/2025
Interest income
Loans$1,463 $1,416 $1,443 $2,879 $2,844
Loans held for sale15 14 11 29 25
Securities available for sale367 370 411 737 803
Held-to-maturity securities95 86 61 181 124
Trading account assets10 11 16 21 33
Short-term investments101 103 157 204 331
Other investments8 5 8 13 17
Total interest income2,059 2,005 2,107 4,064 4,177
Interest expense
Deposits600 598 730 1,198 1,483
Federal funds purchased and securities sold under repurchase agreements19 14 4 33 5
Bank notes and other short-term borrowings35 20 34 55 61
Long-term debt155 151 198 306 391
Total interest expense809 783 966 1,592 1,940
Net interest income1,250 1,222 1,141 2,472 2,237
Provision for credit losses92 106 138 198 256
Net interest income after provision for credit losses1,158 1,116 1,003 2,274 1,981
Noninterest income
Trust and investment services income159 157 146 316 285
Investment banking and debt placement fees169 197 178 366 353
Service charges on deposit accounts77 77 73 154 142
Operating lease income and other leasing gains10 8 14 18 23
Corporate services income80 71 76 151 141
Cards and payments income94 86 85 180 167
Corporate-owned life insurance income33 34 32 67 65
Consumer mortgage income17 13 15 30 28
Commercial mortgage servicing fees49 62 70 111 146
Other income15 18 1 33 8
Net securities gains (losses)3 — — 3 —
Total noninterest income706 723 690 1,429 1,358
Noninterest expense
Personnel786 743 705 1,529 1,385
Net occupancy68 68 69 136 136
Computer processing108 111 107 219 214
Business services and professional fees46 36 48 82 88
Equipment22 19 21 41 41
Operating lease expense7 7 10 14 21
Marketing22 18 24 40 45
Other expense158 179 170 337 355
Total noninterest expense1,217 1,181 1,154 2,398 2,285
Income (loss) from continuing operations before income taxes647 658 539 1,305 1,054
Income taxes139 136 116 275 225
Income (loss) from continuing operations508 522 423 1,030 829
Income (loss) from discontinued operations, net of taxes1 — 2 1 1
Net income (loss)509 522 425 1,031 830
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$509 $522 $425 $1,031 $830
Income (loss) from continuing operations attributable to Key common shareholders$472 $486 $387 $958 $757
Net income (loss) attributable to Key common shareholders473 486 389 959 758
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.44 $.45 $.35 $.89 $.69
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .44 .45 .35 .89 .69
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.44 $.44 $.35 $.88 $.69
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .44 .44 $.35 .88 .69
Cash dividends declared per common share$.205 $.205 $.205 $.41 $.41
Weighted-average common shares outstanding (000)1,071,229 1,084,277 1,100,033 1,077,977 1,098,453
Effec
Apr 16, 2026
4 a1q26erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
3/31/202612/31/20253/31/2025
Assets
Loans$109,190 $106,541 $104,809
Loans held for sale 876 1,077 811
Securities available for sale38,918 39,596 40,751
Held-to-maturity securities9,116 8,622 7,160
Trading account assets783 1,061 1,296
Short-term investments11,782 10,163 15,349
Other investments1,204 949 1,050
Total earning assets171,869 168,009 171,226
Allowance for loan and lease losses(1,449)(1,427)(1,429)
Cash and due from banks1,130 1,287 1,909
Premises and equipment618 628 602
Goodwill2,752 2,752 2,752
Other intangible assets5 8 22
Corporate-owned life insurance4,439 4,432 4,404
Accrued income and other assets9,100 8,481 8,958
Discontinued assets199 211 247
Total assets$188,663 $184,381 $188,691
Liabilities
Deposits in domestic offices:
Interest-bearing deposits120,220 121,100 122,283
Noninterest-bearing deposits27,595 27,613 28,454
Total deposits147,815 148,713 150,737
Federal funds purchased and securities sold under repurchase agreements 34 13 22
Bank notes and other short-term borrowings6,149 1,071 2,328
Accrued expense and other liabilities3,801 4,286 4,209
Long-term debt10,877 9,917 12,392
Total liabilities168,676 164,000 169,688
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus5,981 6,035 5,946
Retained earnings15,622 15,359 14,724
Treasury stock, at cost(3,152)(2,810)(2,637)
Accumulated other comprehensive income (loss)(2,221)(1,960)(2,787)
Total equity19,987 20,381 19,003
Total liabilities and equity$188,663 $184,381 $188,691
Common shares outstanding (000)1,087,293 1,102,401 1,111,986
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
3/31/202612/31/20253/31/2025
Interest income
Loans$1,416 $1,439 $1,401
Loans held for sale14 18 14
Securities available for sale370 388 392
Held-to-maturity securities86 76 63
Trading account assets11 12 17
Short-term investments103 137 174
Other investments5 8 9
Total interest income2,005 2,078 2,070
Interest expense
Deposits598 688 753
Federal funds purchased and securities sold under repurchase agreements14 4 1
Bank notes and other short-term borrowings20 9 27
Long-term debt151 162 193
Total interest expense783 863 974
Net interest income1,222 1,215 1,096
Provision for credit losses106 108 118
Net interest income after provision for credit losses1,116 1,107 978
Noninterest income
Trust and investment services income157 156 139
Investment banking and debt placement fees197 243 175
Service charges on deposit accounts77 78 69
Operating lease income and other leasing gains8 9 9
Corporate services income71 81 65
Cards and payments income86 84 82
Corporate-owned life insurance income34 40 33
Consumer mortgage income13 16 13
Commercial mortgage servicing fees62 68 76
Other income18 7 7
Net securities gains (losses)— — —
Total noninterest income723 782 668
Noninterest expense
Personnel743 790 680
Net occupancy68 69 67
Computer processing111 106 107
Business services and professional fees36 61 40
Equipment19 22 20
Operating lease expense7 8 11
Marketing18 28 21
Intangible asset amortization— — —
Other expense179 157 185
Total noninterest expense1,181 1,241 1,131
Income (loss) from continuing operations before income taxes658 648 515
Income taxes136 139 109
Income (loss) from continuing operations522 509 406
Income (loss) from discontinued operations, net of taxes— 1 (1)
Net income (loss)522 510 405
Less: Net income (loss) attributable to noncontrolling interests— — —
Net income (loss) attributable to Key$522 $510 $405
Income (loss) from continuing operations attributable to Key common shareholders$486 $474 $370
Net income (loss) attributable to Key common shareholders486 475 369
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.45 $.43 $.34
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .45 .43 .34
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.44 $.43 $.33
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .44 .43 $.33
Cash dividends declared per common share$.205 $.205 $.205
Weighted-average common shares outstanding (000)1,084,277 1,095,171 1,096,654
Effect of common share options and other stock awards (b) 10,091 11,152 9,486
Weighted-average common shares and potential common shares outstanding (000) (c)
1,094,368 1,106,323 1,106,140
(a)Earnings per share may not foot due to rounding.
(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share.
(c)Assumes convers
Jan 20, 2026
4 a4q25erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/20259/30/202512/31/2024
Assets
Loans$106,541 $105,902 $104,260
Loans held for sale 1,077 998 797
Securities available for sale39,596 40,456 37,707
Held-to-maturity securities8,622 7,509 7,395
Trading account assets1,061 972 1,283
Short-term investments10,163 13,334 17,504
Other investments949 921 1,041
Total earning assets168,009 170,092 169,987
Allowance for loan and lease losses(1,427)(1,444)(1,409)
Cash and due from banks1,287 1,938 1,743
Premises and equipment628 606 614
Goodwill2,752 2,752 2,752
Other intangible assets8 13 27
Corporate-owned life insurance4,432 4,428 4,394
Accrued income and other assets8,481 8,803 8,797
Discontinued assets211 221 263
Total assets$184,381 $187,409 $187,168
Liabilities
Deposits in domestic offices:
Interest-bearing deposits121,100 122,425 120,132
Noninterest-bearing deposits27,613 28,340 29,628
Total deposits148,713 150,765 149,760
Federal funds purchased and securities sold under repurchase agreements 13 10 14
Bank notes and other short-term borrowings1,071 1,339 2,130
Accrued expense and other liabilities4,286 4,276 4,983
Long-term debt9,917 10,917 12,105
Total liabilities164,000 167,307 168,992
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,035 6,002 6,038
Retained earnings15,359 15,111 14,584
Treasury stock, at cost(2,810)(2,619)(2,733)
Accumulated other comprehensive income (loss)(1,960)(2,149)(3,470)
Total equity20,381 20,102 18,176
Total liabilities and equity$184,381 $187,409 $187,168
Common shares outstanding (000)1,102,401 1,112,952 1,106,786
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedTwelve months ended
12/31/20259/30/202512/31/202412/31/202512/31/2024
Interest income
Loans$1,439 $1,466 $1,448 $5,749 $6,026
Loans held for sale18 18 20 61 60
Securities available for sale388 408 353 1,599 1,142
Held-to-maturity securities76 64 66 264 284
Trading account assets12 11 16 56 61
Short-term investments137 156 214 624 792
Other investments8 8 15 33 62
Total interest income2,078 2,131 2,132 8,386 8,427
Interest expense
Deposits688 748 821 2,919 3,307
Federal funds purchased and securities sold under repurchase agreements4 4 1 13 4
Bank notes and other short-term borrowings9 14 24 84 164
Long-term debt162 181 235 734 1,187
Total interest expense863 947 1,081 3,750 4,662
Net interest income1,215 1,184 1,051 4,636 3,765
Provision for credit losses108 107 39 471 335
Net interest income after provision for credit losses1,107 1,077 1,012 4,165 3,430
Noninterest income
Trust and investment services income156 150 142 591 557
Investment banking and debt placement fees243 184 221 780 688
Service charges on deposit accounts78 75 65 295 261
Operating lease income and other leasing gains9 11 15 43 76
Corporate services income81 72 69 294 275
Cards and payments income84 86 85 337 331
Corporate-owned life insurance income40 35 36 140 138
Consumer mortgage income16 14 16 58 58
Commercial mortgage servicing fees68 73 68 287 258
Other income7 8 (5)23 23
Net securities gains (losses)— (6)(908)(6)(1,856)
Total noninterest income782 702 (196)2,842 809
Noninterest expense
Personnel790 742 734 2,917 2,714
Net occupancy69 65 67 270 266
Computer processing106 105 107 425 414
Business services and professional fees61 44 55 193 174
Equipment22 20 20 83 80
Operating lease expense8 9 15 38 63
Marketing28 22 33 95 94
Intangible asset amortization— — — — —
Other expense157 170 198 682 740
Total noninterest expense1,241 1,177 1,229 4,703 4,545
Income (loss) from continuing operations before income taxes648 602 (413)2,304 (306)
Income taxes139 112 (169)476 (143)
Income (loss) from continuing operations509 490 (244)1,828 (163)
Income (loss) from discontinued operations, net of taxes1 (1)— 1 2
Net income (loss)510 489 (244)1,829 (161)
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$510 $489 $(244)$1,829 $(161)
Income (loss) from continuing operations attributable to Key common shareholders$474 $454 $(279)$1,685 $(306)
Net income (loss) attributable to Key common shareholders475 453 (279)1,686 (304)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.43 $.41 $(.28)$1.53 $(.32)
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .43 .41 (.28)1.53 (.32)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.43 $.41 $(.28)$1.52 $(.32)
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .43 .41 $(.28)1.52 (.32)
Cash dividends declared per common share$.205 $.205 $.205 $.82 $
Oct 16, 2025
4 a3q25erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
9/30/20256/30/20259/30/2024
Assets
Loans$105,902 $106,389 $105,346
Loans held for sale 998 530 1,058
Securities available for sale40,456 40,669 34,169
Held-to-maturity securities7,509 6,914 7,702
Trading account assets972 1,374 1,404
Short-term investments13,334 11,564 22,796
Other investments921 1,058 1,117
Total earning assets170,092 168,498 173,592
Allowance for loan and lease losses(1,444)(1,446)(1,494)
Cash and due from banks1,938 1,766 1,276
Premises and equipment606 599 624
Goodwill2,752 2,752 2,752
Other intangible assets13 18 34
Corporate-owned life insurance4,428 4,423 4,379
Accrued income and other assets8,803 8,654 8,323
Discontinued assets221 235 277
Total assets$187,409 $185,499 $189,763
Liabilities
Deposits in domestic offices:
Interest-bearing deposits122,425 119,230 119,995
Noninterest-bearing deposits28,340 27,675 30,358
Total deposits150,765 146,905 150,353
Federal funds purchased and securities sold under repurchase agreements 10 20 44
Bank notes and other short-term borrowings1,339 2,754 2,359
Accrued expense and other liabilities4,276 4,273 4,478
Long-term debt10,917 12,063 15,677
Total liabilities167,307 166,015 172,911
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,002 5,971 6,149
Retained earnings15,111 14,886 15,066
Treasury stock, at cost(2,619)(2,629)(4,839)
Accumulated other comprehensive income (loss)(2,149)(2,501)(3,281)
Total equity20,102 19,484 16,852
Total liabilities and equity$187,409 $185,499 $189,763
Common shares outstanding (000)1,112,952 1,112,453 991,251
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
9/30/20256/30/20259/30/2024
Interest income
Loans$1,466 $1,443 $1,516
Loans held for sale18 11 18
Securities available for sale408 411 298
Held-to-maturity securities64 61 70
Trading account assets11 16 15
Short-term investments156 157 244
Other investments8 8 14
Total interest income2,131 2,107 2,175
Interest expense
Deposits748 730 887
Federal funds purchased and securities sold under repurchase agreements4 4 1
Bank notes and other short-term borrowings14 34 43
Long-term debt181 198 292
Total interest expense947 966 1,223
Net interest income1,184 1,141 952
Provision for credit losses107 138 95
Net interest income after provision for credit losses1,077 1,003 857
Noninterest income
Trust and investment services income150 146 140
Investment banking and debt placement fees184 178 171
Service charges on deposit accounts75 73 67
Operating lease income and other leasing gains11 14 16
Corporate services income72 76 69
Cards and payments income86 85 84
Corporate-owned life insurance income35 32 36
Consumer mortgage income14 15 12
Commercial mortgage servicing fees73 70 73
Other income8 1 (2)
Net securities gains (losses)(6)— (935)
Total noninterest income702 690 (269)
Noninterest expense
Personnel742 705 670
Net occupancy65 69 66
Computer processing105 107 104
Business services and professional fees44 48 41
Equipment20 21 20
Operating lease expense9 10 14
Marketing22 24 21
Intangible asset amortization— — —
Other expense170 170 158
Total noninterest expense1,177 1,154 1,094
Income (loss) from continuing operations before income taxes602 539 (506)
Income taxes112 116 (95)
Income (loss) from continuing operations490 423 (411)
Income (loss) from discontinued operations, net of taxes(1)2 1
Net income (loss)489 425 (410)
Less: Net income (loss) attributable to noncontrolling interests— — —
Net income (loss) attributable to Key$489 $425 $(410)
Income (loss) from continuing operations attributable to Key common shareholders$454 $387 $(447)
Net income (loss) attributable to Key common shareholders453 389 (446)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.41 $.35 $(.47)
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .41 .35 (.47)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.41 $.35 $(.47)
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .41 .35 $(.47)
Cash dividends declared per common share$.205 $.205 $.205
Weighted-average common shares outstanding (000)1,100,830 1,100,033 948,979
Effect of common share options and other stock awards (b) 9,845 7,177 —
Weighted-average common shares and potential common shares outstanding (000) (c)
1,110,675 1,107,210 948,979
(a)Earnings per share may not foot due to rounding.
(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share
Jul 22, 2025
4 a2q25erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20253/31/20256/30/2024
Assets
Loans$106,389 $104,809 $107,078
Loans held for sale 530 811 517
Securities available for sale40,669 40,751 37,460
Held-to-maturity securities6,914 7,160 7,968
Trading account assets1,374 1,296 1,219
Short-term investments11,564 15,349 15,536
Other investments1,058 1,050 1,259
Total earning assets168,498 171,226 171,037
Allowance for loan and lease losses(1,446)(1,429)(1,547)
Cash and due from banks1,766 1,909 1,326
Premises and equipment599 602 631
Goodwill2,752 2,752 2,752
Other intangible assets18 22 41
Corporate-owned life insurance4,423 4,404 4,382
Accrued income and other assets8,654 8,958 8,532
Discontinued assets235 247 296
Total assets$185,499 $188,691 $187,450
Liabilities
Deposits in domestic offices:
Interest-bearing deposits119,230 122,283 117,570
Noninterest-bearing deposits27,675 28,454 28,150
Total deposits146,905 150,737 145,720
Federal funds purchased and securities sold under repurchase agreements 20 22 25
Bank notes and other short-term borrowings2,754 2,328 5,292
Accrued expense and other liabilities4,273 4,209 4,755
Long-term debt12,063 12,392 16,869
Total liabilities166,015 169,688 172,661
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus5,971 5,946 6,185
Retained earnings14,886 14,724 15,706
Treasury stock, at cost(2,629)(2,637)(5,715)
Accumulated other comprehensive income (loss)(2,501)(2,787)(5,144)
Total equity19,484 19,003 14,789
Total liabilities and equity$185,499 $188,691 $187,450
Common shares outstanding (000)1,112,453 1,111,986 943,200
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
6/30/20253/31/20256/30/2024
Interest income
Loans$1,443 $1,401 $1,524
Loans held for sale11 14 8
Securities available for sale411 392 259
Held-to-maturity securities61 63 73
Trading account assets16 17 16
Short-term investments157 174 192
Other investments8 9 16
Total interest income2,107 2,070 2,088
Interest expense
Deposits730 753 817
Federal funds purchased and securities sold under repurchase agreements4 1 1
Bank notes and other short-term borrowings34 27 51
Long-term debt198 193 332
Total interest expense966 974 1,201
Net interest income1,141 1,096 887
Provision for credit losses138 118 100
Net interest income after provision for credit losses1,003 978 787
Noninterest income
Trust and investment services income146 139 139
Investment banking and debt placement fees178 175 126
Service charges on deposit accounts73 69 66
Operating lease income and other leasing gains14 9 21
Corporate services income76 65 68
Cards and payments income85 82 85
Corporate-owned life insurance income32 33 34
Consumer mortgage income15 13 16
Commercial mortgage servicing fees70 76 61
Other income1 7 21
Net securities gains (losses)— — (10)
Total noninterest income690 668 627
Noninterest expense
Personnel705 680 636
Net occupancy69 67 66
Computer processing107 107 101
Business services and professional fees48 40 37
Equipment21 20 20
Operating lease expense10 11 17
Marketing24 21 21
Intangible asset amortization— — —
Other expense170 185 181
Total noninterest expense1,154 1,131 1,079
Income (loss) from continuing operations before income taxes539 515 335
Income taxes116 109 62
Income (loss) from continuing operations423 406 273
Income (loss) from discontinued operations, net of taxes2 (1)1
Net income (loss)425 405 274
Less: Net income (loss) attributable to noncontrolling interests— — —
Net income (loss) attributable to Key$425 $405 $274
Income (loss) from continuing operations attributable to Key common shareholders$387 $370 $237
Net income (loss) attributable to Key common shareholders389 369 238
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.35 $.34 $.25
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .35 .34 .25
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.35 $.33 $.25
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .35 .33 $.25
Cash dividends declared per common share$.205 $.205 $.205
Weighted-average common shares outstanding (000)1,100,033 1,096,654 931,726
Effect of common share options and other stock awards (b) 7,177 9,486 6,761
Weighted-average common shares and potential common shares outstanding (000) (c)
1,107,210 1,106,140 938,487
(a)Earnings per share may not foot due to rounding.
(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share.
(c)Assumes conversio
Apr 17, 2025
4 a1q25erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
3/31/202512/31/20243/31/2024
Assets
Loans$104,809 $104,260 $109,885
Loans held for sale 811 797 228
Securities available for sale40,751 37,707 37,298
Held-to-maturity securities7,160 7,395 8,272
Trading account assets1,296 1,283 1,171
Short-term investments15,349 17,504 13,205
Other investments1,050 1,041 1,247
Total earning assets171,226 169,987 171,306
Allowance for loan and lease losses(1,429)(1,409)(1,542)
Cash and due from banks1,909 1,743 1,247
Premises and equipment602 614 650
Goodwill2,752 2,752 2,752
Other intangible assets22 27 48
Corporate-owned life insurance4,404 4,394 4,392
Accrued income and other assets8,958 8,797 8,314
Discontinued assets247 263 318
Total assets$188,691 $187,168 $187,485
Liabilities
Deposits in domestic offices:
Interest-bearing deposits122,283 120,132 114,593
Noninterest-bearing deposits28,454 29,628 29,638
Total deposits150,737 149,760 144,231
Federal funds purchased and securities sold under repurchase agreements 22 14 27
Bank notes and other short-term borrowings2,328 2,130 2,896
Accrued expense and other liabilities4,209 4,983 5,008
Long-term debt12,392 12,105 20,776
Total liabilities169,688 168,992 172,938
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus5,946 6,038 6,164
Retained earnings14,724 14,584 15,662
Treasury stock, at cost(2,637)(2,733)(5,722)
Accumulated other comprehensive income (loss)(2,787)(3,470)(5,314)
Key shareholders’ equity19,003 18,176 14,547
Noncontrolling interests— — —
Total equity19,003 18,176 14,547
Total liabilities and equity$188,691 $187,168 $187,485
Common shares outstanding (000)1,111,986 1,106,786 942,776
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
3/31/202512/31/20243/31/2024
Interest income
Loans$1,401 $1,448 $1,538
Loans held for sale14 20 14
Securities available for sale392 353 232
Held-to-maturity securities63 66 75
Trading account assets17 16 14
Short-term investments174 214 142
Other investments9 15 17
Total interest income2,070 2,132 2,032
Interest expense
Deposits753 821 782
Federal funds purchased and securities sold under repurchase agreements1 1 1
Bank notes and other short-term borrowings27 24 46
Long-term debt193 235 328
Total interest expense974 1,081 1,157
Net interest income1,096 1,051 875
Provision for credit losses118 39 101
Net interest income after provision for credit losses978 1,012 774
Noninterest income
Trust and investment services income139 142 136
Investment banking and debt placement fees175 221 170
Service charges on deposit accounts69 65 63
Operating lease income and other leasing gains9 15 24
Corporate services income65 69 69
Cards and payments income82 85 77
Corporate-owned life insurance income33 36 32
Consumer mortgage income13 16 14
Commercial mortgage servicing fees76 68 56
Other income7 (5)9
Net securities gains (losses)— (908)(3)
Total noninterest income668 (196)647
Noninterest expense
Personnel680 734 674
Net occupancy67 67 67
Computer processing107 107 102
Business services and professional fees40 55 41
Equipment20 20 20
Operating lease expense11 15 17
Marketing21 33 19
Intangible asset amortization— — —
Other expense185 198 203
Total noninterest expense1,131 1,229 1,143
Income (loss) from continuing operations before income taxes515 (413)278
Income taxes109 (169)59
Income (loss) from continuing operations406 (244)219
Income (loss) from discontinued operations, net of taxes(1)— —
Net income (loss)405 (244)219
Less: Net income (loss) attributable to noncontrolling interests— — —
Net income (loss) attributable to Key$405 $(244)$219
Income (loss) from continuing operations attributable to Key common shareholders$370 $(279)$183
Net income (loss) attributable to Key common shareholders369 (279)183
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.34 $(.28)$.20
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .34 (.28).20
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.33 $(.28)$.20
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .33 (.28)$.20
Cash dividends declared per common share$.205 $.205 $.205
Weighted-average common shares outstanding (000)1,096,654 986,829 929,692
Effect of common share options and other stock awards (b) 9,486 — 7,319
Weighted-average common shares and potential common shares outstanding (000) (c)
1,106,140 986,829 937,011
(a)Earnings per share may not foot due to rounding.
(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have
Jan 21, 2025
4 a4q24erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/20249/30/202412/31/2023
Assets
Loans$104,260 $105,346 $112,606
Loans held for sale 797 1,058 483
Securities available for sale37,707 34,169 37,185
Held-to-maturity securities7,395 7,702 8,575
Trading account assets1,283 1,404 1,142
Short-term investments17,504 22,796 10,817
Other investments1,041 1,117 1,244
Total earning assets169,987 173,592 172,052
Allowance for loan and lease losses(1,409)(1,494)(1,508)
Cash and due from banks1,743 1,276 941
Premises and equipment614 624 661
Goodwill2,752 2,752 2,752
Other intangible assets27 34 55
Corporate-owned life insurance4,394 4,379 4,383
Accrued income and other assets8,797 8,323 8,601
Discontinued assets263 277 344
Total assets$187,168 $189,763 $188,281
Liabilities
Deposits in domestic offices:
Interest-bearing deposits120,132 119,995 114,859
Noninterest-bearing deposits29,628 30,358 30,728
Total deposits149,760 150,353 145,587
Federal funds purchased and securities sold under repurchase agreements 14 44 38
Bank notes and other short-term borrowings2,130 2,359 3,053
Accrued expense and other liabilities4,983 4,478 5,412
Long-term debt12,105 15,677 19,554
Total liabilities168,992 172,911 173,644
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,038 6,149 6,281
Retained earnings14,584 15,066 15,672
Treasury stock, at cost(2,733)(4,839)(5,844)
Accumulated other comprehensive income (loss)(3,470)(3,281)(5,229)
Key shareholders’ equity18,176 16,852 14,637
Noncontrolling interests— — —
Total equity18,176 16,852 14,637
Total liabilities and equity$187,168 $189,763 $188,281
Common shares outstanding (000)1,106,786 991,251 936,564
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedTwelve months ended
12/31/20249/30/202412/31/202312/31/202412/31/2023
Interest income
Loans$1,448 $1,516 $1,574 $6,026 $6,219
Loans held for sale20 18 12 60 61
Securities available for sale353 298 213 1,142 793
Held-to-maturity securities66 70 78 284 312
Trading account assets16 15 13 61 55
Short-term investments214 244 138 792 414
Other investments15 14 22 62 73
Total interest income2,132 2,175 2,050 8,427 7,927
Interest expense
Deposits821 887 754 3,307 2,322
Federal funds purchased and securities sold under repurchase agreements1 1 — 4 79
Bank notes and other short-term borrowings24 43 45 164 308
Long-term debt235 292 330 1,187 1,305
Total interest expense1,081 1,223 1,129 4,662 4,014
Net interest income1,051 952 921 3,765 3,913
Provision for credit losses39 95 102 335 489
Net interest income after provision for credit losses1,012 857 819 3,430 3,424
Noninterest income
Trust and investment services income142 140 132 557 516
Investment banking and debt placement fees221 171 136 688 542
Service charges on deposit accounts65 67 65 261 270
Operating lease income and other leasing gains15 16 22 76 92
Corporate services income69 69 67 275 302
Cards and payments income85 84 84 331 340
Corporate-owned life insurance income36 36 36 138 132
Consumer mortgage income16 12 11 58 51
Commercial mortgage servicing fees68 73 48 258 190
Other income(5)(2)13 23 46
Net securities gains (losses)(908)(935)(4)(1,856)(11)
Total noninterest income(196)(269)610 809 2,470
Noninterest expense
Personnel734 670 674 2,714 2,660
Net occupancy67 66 65 266 267
Computer processing107 104 92 414 368
Business services and professional fees55 41 44 174 168
Equipment20 20 24 80 88
Operating lease expense15 14 18 63 77
Marketing33 21 31 94 109
Intangible asset amortization— — — — —
Other expense198 158 424 740 997
Total noninterest expense1,229 1,094 1,372 4,545 4,734
Income (loss) from continuing operations before income taxes(413)(506)57 (306)1,160
Income taxes(169)(95)(8)(143)196
Income (loss) from continuing operations(244)(411)65 (163)964
Income (loss) from discontinued operations, net of taxes— 1 — 2 3
Net income (loss)(244)(410)65 (161)967
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$(244)$(410)$65 $(161)$967
Income (loss) from continuing operations attributable to Key common shareholders$(279)$(447)$30 $(306)$821
Net income (loss) attributable to Key common shareholders(279)(446)30 (304)824
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$(.28)$(.47)$.03 $(.32)$.88
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) (.28)(.47).03 (.32).89
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$(.28)$(.47)$.03 $(.32)$.88
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) (.28)(.47)$.03 (.32).88
Oct 17, 2024
4 a3q24erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
9/30/20246/30/20249/30/2023
Assets
Loans$105,346 $107,078 $115,544
Loans held for sale 1,058 517 730
Securities available for sale34,169 37,460 35,839
Held-to-maturity securities7,702 7,968 8,853
Trading account assets1,404 1,219 1,325
Short-term investments22,796 15,536 7,871
Other investments1,117 1,259 1,356
Total earning assets173,592 171,037 171,518
Allowance for loan and lease losses(1,494)(1,547)(1,488)
Cash and due from banks1,276 1,326 766
Premises and equipment624 631 649
Goodwill2,752 2,752 2,752
Other intangible assets34 41 65
Corporate-owned life insurance4,379 4,382 4,381
Accrued income and other assets8,323 8,532 8,843
Discontinued assets277 296 365
Total assets$189,763 $187,450 $187,851
Liabilities
Deposits in domestic offices:
Interest-bearing deposits119,995 117,570 112,581
Noninterest-bearing deposits30,358 28,150 31,710
Total deposits150,353 145,720 144,291
Federal funds purchased and securities sold under repurchase agreements 44 25 43
Bank notes and other short-term borrowings2,359 5,292 3,470
Accrued expense and other liabilities4,478 4,755 5,388
Long-term debt15,677 16,869 21,303
Total liabilities172,911 172,661 174,495
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,149 6,185 6,254
Retained earnings15,066 15,706 15,835
Treasury stock, at cost(4,839)(5,715)(5,851)
Accumulated other comprehensive income (loss)(3,281)(5,144)(6,639)
Key shareholders’ equity16,852 14,789 13,356
Noncontrolling interests— — —
Total equity16,852 14,789 13,356
Total liabilities and equity$189,763 $187,450 $187,851
Common shares outstanding (000)991,251 943,200 936,161
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedNine months ended
9/30/20246/30/20249/30/20239/30/20249/30/2023
Interest income
Loans$1,516 $1,524 $1,593 $4,578 $4,645
Loans held for sale18 8 19 40 49
Securities available for sale298 259 192 789 580
Held-to-maturity securities70 73 79 218 234
Trading account assets15 16 15 45 42
Short-term investments244 192 123 578 276
Other investments14 16 22 47 51
Total interest income2,175 2,088 2,043 6,295 5,877
Interest expense
Deposits887 817 687 2,486 1,568
Federal funds purchased and securities sold under repurchase agreements1 1 9 3 79
Bank notes and other short-term borrowings43 51 81 140 263
Long-term debt292 332 351 952 975
Total interest expense1,223 1,201 1,128 3,581 2,885
Net interest income952 887 915 2,714 2,992
Provision for credit losses95 100 81 296 387
Net interest income after provision for credit losses857 787 834 2,418 2,605
Noninterest income
Trust and investment services income140 139 130 415 384
Investment banking and debt placement fees171 126 141 467 406
Service charges on deposit accounts67 66 69 196 205
Operating lease income and other leasing gains16 21 22 61 70
Corporate services income69 68 73 206 235
Cards and payments income84 85 90 246 256
Corporate-owned life insurance income36 34 35 102 96
Consumer mortgage income12 16 15 42 40
Commercial mortgage servicing fees73 61 46 190 142
Other income(937)11 22 (920)26
Total noninterest income(269)627 643 1,005 1,860
Noninterest expense
Personnel670 636 663 1,980 1,986
Net occupancy66 66 67 199 202
Computer processing104 101 89 307 276
Business services and professional fees41 37 38 119 124
Equipment20 20 20 60 64
Operating lease expense14 17 18 48 59
Marketing21 21 28 61 78
Intangible asset amortization— — — — —
Other expense158 181 187 542 573
Total noninterest expense1,094 1,079 1,110 3,316 3,362
Income (loss) from continuing operations before income taxes(506)335 367 107 1,103
Income taxes(95)62 65 26 204
Income (loss) from continuing operations(411)273 302 81 899
Income (loss) from discontinued operations, net of taxes1 1 1 2 3
Net income (loss)(410)274 303 83 902
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$(410)$274 $303 $83 $902
Income (loss) from continuing operations attributable to Key common shareholders$(447)$237 $266 $(27)$791
Net income (loss) attributable to Key common shareholders(446)238 267 (25)794
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$(.47)$.25 $.29 $(.03)$.85
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) (.47).25 .29 (.03).86
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$(.47)$.25 $.29 $(.03)$.85
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) (.47).25 $.29 (.03).85
Cash dividends declared per common share$.205 $.205 $.205 $.615 $.615
Weighted-average co
Jul 18, 2024
4 a2q24erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20243/31/20246/30/2023
Assets
Loans$107,078 $109,885 $119,011
Loans held for sale 517 228 1,130
Securities available for sale37,460 37,298 37,908
Held-to-maturity securities7,968 8,272 9,189
Trading account assets1,219 1,171 1,177
Short-term investments15,536 13,205 8,959
Other investments1,259 1,247 1,474
Total earning assets171,037 171,306 178,848
Allowance for loan and lease losses(1,547)(1,542)(1,480)
Cash and due from banks1,326 1,247 758
Premises and equipment631 650 652
Goodwill2,752 2,752 2,752
Other intangible assets41 48 75
Corporate-owned life insurance4,382 4,392 4,378
Accrued income and other assets8,532 8,314 8,668
Discontinued assets296 318 386
Total assets$187,450 $187,485 $195,037
Liabilities
Deposits in domestic offices:
Interest-bearing deposits117,570 114,593 111,766
Noninterest-bearing deposits28,150 29,638 33,366
Total deposits145,720 144,231 145,132
Federal funds purchased and securities sold under repurchase agreements 25 27 1,702
Bank notes and other short-term borrowings5,292 2,896 6,949
Accrued expense and other liabilities4,755 5,008 5,339
Long-term debt16,869 20,776 22,071
Total liabilities172,661 172,938 181,193
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,185 6,164 6,231
Retained earnings15,706 15,662 15,759
Treasury stock, at cost(5,715)(5,722)(5,859)
Accumulated other comprehensive income (loss)(5,144)(5,314)(6,044)
Key shareholders’ equity14,789 14,547 13,844
Noncontrolling interests— — —
Total equity14,789 14,547 13,844
Total liabilities and equity$187,450 $187,485 $195,037
Common shares outstanding (000)943,200 942,776 935,733
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedSix months ended
6/30/20243/31/20246/30/20236/30/20246/30/2023
Interest income
Loans$1,524 $1,538 $1,576 $3,062 $3,052
Loans held for sale8 14 17 22 30
Securities available for sale259 232 194 491 388
Held-to-maturity securities73 75 81 148 155
Trading account assets16 14 15 30 27
Short-term investments192 142 111 334 153
Other investments16 17 16 33 29
Total interest income2,088 2,032 2,010 4,120 3,834
Interest expense
Deposits817 782 531 1,599 881
Federal funds purchased and securities sold under repurchase agreements1 1 48 2 70
Bank notes and other short-term borrowings51 46 104 97 182
Long-term debt332 328 349 660 624
Total interest expense1,201 1,157 1,032 2,358 1,757
Net interest income887 875 978 1,762 2,077
Provision for credit losses100 101 167 201 306
Net interest income after provision for credit losses787 774 811 1,561 1,771
Noninterest income
Trust and investment services income139 136 126 275 254
Investment banking and debt placement fees126 170 120 296 265
Service charges on deposit accounts66 63 69 129 136
Operating lease income and other leasing gains21 24 23 45 48
Corporate services income68 69 86 137 162
Cards and payments income85 77 85 162 166
Corporate-owned life insurance income34 32 32 66 61
Consumer mortgage income16 14 14 30 25
Commercial mortgage servicing fees61 56 50 117 96
Other income11 6 4 17 4
Total noninterest income627 647 609 1,274 1,217
Noninterest expense
Personnel636 674 622 1,310 1,323
Net occupancy66 67 65 133 135
Computer processing101 102 95 203 187
Business services and professional fees37 41 41 78 86
Equipment20 20 22 40 44
Operating lease expense17 17 21 34 41
Marketing21 19 29 40 50
Intangible asset amortization— — — — —
Other expense181 203 181 384 386
Total noninterest expense1,079 1,143 1,076 2,222 2,252
Income (loss) from continuing operations before income taxes335 278 344 613 736
Income taxes62 59 58 121 139
Income (loss) from continuing operations273 219 286 492 597
Income (loss) from discontinued operations, net of taxes1 — 1 1 2
Net income (loss)274 219 287 493 599
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$274 $219 $287 $493 $599
Income (loss) from continuing operations attributable to Key common shareholders$237 $183 $250 $420 $525
Net income (loss) attributable to Key common shareholders238 183 251 421 527
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.25 $.20 $.27 $.45 $.57
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .25 .20 .27 .45 .57
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.25 $.20 $.27 $.45 $.56
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .25 .20 $.27 .45 .57
Cash dividends declared per common share$.205 $.205 $.205 $.41 $.41
Weighted-average common shares outstanding
Apr 18, 2024
4 a1q24erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
3/31/202412/31/20233/31/2023
Assets
Loans$109,885 $112,606 $119,971
Loans held for sale 228 483 1,211
Securities available for sale37,298 37,185 39,498
Held-to-maturity securities8,272 8,575 9,561
Trading account assets1,171 1,142 1,118
Short-term investments13,205 10,817 8,410
Other investments1,247 1,244 1,587
Total earning assets171,306 172,052 181,356
Allowance for loan and lease losses(1,542)(1,508)(1,380)
Cash and due from banks1,247 941 784
Premises and equipment650 661 628
Goodwill2,752 2,752 2,752
Other intangible assets48 55 85
Corporate-owned life insurance4,392 4,383 4,372
Accrued income and other assets8,314 8,601 8,512
Discontinued assets318 344 410
Total assets$187,485 $188,281 $197,519
Liabilities
Deposits in domestic offices:
Interest-bearing deposits114,593 114,859 106,841
Noninterest-bearing deposits29,638 30,728 37,307
Total deposits144,231 145,587 144,148
Federal funds purchased and securities sold under repurchase agreements 27 38 1,374
Bank notes and other short-term borrowings2,896 3,053 10,061
Accrued expense and other liabilities5,008 5,412 4,861
Long-term debt20,776 19,554 22,753
Total liabilities172,938 173,644 183,197
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,164 6,281 6,207
Retained earnings15,662 15,672 15,700
Treasury stock, at cost(5,722)(5,844)(5,868)
Accumulated other comprehensive income (loss)(5,314)(5,229)(5,474)
Key shareholders’ equity14,547 14,637 14,322
Noncontrolling interests— — —
Total equity14,547 14,637 14,322
Total liabilities and equity$187,485 $188,281 $197,519
Common shares outstanding (000)942,776 936,564 935,229
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
3/31/202412/31/20233/31/2023
Interest income
Loans$1,538 $1,574 $1,476
Loans held for sale14 12 13
Securities available for sale232 213 194
Held-to-maturity securities75 78 74
Trading account assets14 13 12
Short-term investments142 138 42
Other investments17 22 13
Total interest income2,032 2,050 1,824
Interest expense
Deposits782 754 350
Federal funds purchased and securities sold under repurchase agreements1 — 22
Bank notes and other short-term borrowings46 45 78
Long-term debt328 330 275
Total interest expense1,157 1,129 725
Net interest income875 921 1,099
Provision for credit losses101 102 139
Net interest income after provision for credit losses774 819 960
Noninterest income
Trust and investment services income136 132 128
Investment banking and debt placement fees170 136 145
Service charges on deposit accounts63 65 67
Operating lease income and other leasing gains24 22 25
Corporate services income69 67 76
Cards and payments income77 84 81
Corporate-owned life insurance income32 36 29
Consumer mortgage income14 11 11
Commercial mortgage servicing fees56 48 46
Other income6 9 —
Total noninterest income647 610 608
Noninterest expense
Personnel674 674 701
Net occupancy67 65 70
Computer processing102 92 92
Business services and professional fees41 44 45
Equipment20 24 22
Operating lease expense17 18 20
Marketing19 31 21
Intangible asset amortization— — —
Other expense203 424 205
Total noninterest expense1,143 1,372 1,176
Income (loss) from continuing operations before income taxes278 57 392
Income taxes59 (8)81
Income (loss) from continuing operations219 65 311
Income (loss) from discontinued operations, net of taxes— — 1
Net income (loss)219 65 312
Less: Net income (loss) attributable to noncontrolling interests— — —
Net income (loss) attributable to Key$219 $65 $312
Income (loss) from continuing operations attributable to Key common shareholders$183 $30 $275
Net income (loss) attributable to Key common shareholders183 30 276
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.20 $.03 $.30
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .20 .03 .30
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.20 $.03 $.30
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .20 .03 $.30
Cash dividends declared per common share$.205 $.205 $.205
Weighted-average common shares outstanding (000)929,692 927,517 926,490
Effect of common share options and other stock awards7,319 6,529 7,314
Weighted-average common shares and potential common shares outstanding (000) (b)
937,011 934,046 933,804
(a)Earnings per share may not foot due to rounding.
(b)Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable.
Jan 18, 2024
4 a4q23erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/20239/30/202312/31/2022
Assets
Loans$112,606 $115,544 $119,394
Loans held for sale 483 730 963
Securities available for sale37,185 35,839 39,117
Held-to-maturity securities8,575 8,853 8,710
Trading account assets1,142 1,325 829
Short-term investments10,817 7,871 2,432
Other investments1,244 1,356 1,308
Total earning assets172,052 171,518 172,753
Allowance for loan and lease losses(1,508)(1,488)(1,337)
Cash and due from banks941 766 887
Premises and equipment661 649 636
Goodwill2,752 2,752 2,752
Other intangible assets55 65 94
Corporate-owned life insurance4,383 4,381 4,369
Accrued income and other assets8,601 8,843 9,223
Discontinued assets344 365 436
Total assets$188,281 $187,851 $189,813
Liabilities
Deposits in domestic offices:
Interest-bearing deposits114,859 112,581 101,761
Noninterest-bearing deposits30,728 31,710 40,834
Total deposits145,587 144,291 142,595
Federal funds purchased and securities sold under repurchase agreements 38 43 4,077
Bank notes and other short-term borrowings3,053 3,470 5,386
Accrued expense and other liabilities5,412 5,388 4,994
Long-term debt19,554 21,303 19,307
Total liabilities173,644 174,495 176,359
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,281 6,254 6,286
Retained earnings15,672 15,835 15,616
Treasury stock, at cost(5,844)(5,851)(5,910)
Accumulated other comprehensive income (loss)(5,229)(6,639)(6,295)
Key shareholders’ equity14,637 13,356 13,454
Noncontrolling interests— — —
Total equity14,637 13,356 13,454
Total liabilities and equity$188,281 $187,851 $189,813
Common shares outstanding (000)936,564 936,161 933,325
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedTwelve months ended
12/31/20239/30/202312/31/202212/31/202312/31/2022
Interest income
Loans$1,574 $1,593 $1,347 $6,219 $4,241
Loans held for sale12 19 20 61 56
Securities available for sale213 192 195 793 752
Held-to-maturity securities78 79 64 312 213
Trading account assets13 15 10 55 31
Short-term investments138 123 48 414 97
Other investments22 22 11 73 22
Total interest income2,050 2,043 1,695 7,927 5,412
Interest expense
Deposits754 687 186 2,322 279
Federal funds purchased and securities sold under repurchase agreements— 9 16 79 41
Bank notes and other short-term borrowings45 81 54 308 90
Long-term debt330 351 219 1,305 475
Total interest expense1,129 1,128 475 4,014 885
Net interest income921 915 1,220 3,913 4,527
Provision for credit losses102 81 265 489 502
Net interest income after provision for credit losses819 834 955 3,424 4,025
Noninterest income
Trust and investment services income132 130 126 516 526
Investment banking and debt placement fees136 141 172 542 638
Service charges on deposit accounts65 69 71 270 350
Operating lease income and other leasing gains22 22 24 92 103
Corporate services income67 73 89 302 372
Cards and payments income84 90 85 340 341
Corporate-owned life insurance income36 35 33 132 132
Consumer mortgage income11 15 9 51 58
Commercial mortgage servicing fees48 46 42 190 167
Other income9 22 20 35 31
Total noninterest income610 643 671 2,470 2,718
Noninterest expense
Personnel674 663 674 2,660 2,566
Net occupancy65 67 72 267 295
Computer processing92 89 82 368 314
Business services and professional fees44 38 60 168 212
Equipment24 20 20 88 92
Operating lease expense18 18 22 77 101
Marketing31 28 31 109 123
Intangible asset amortization— — — — —
Other expense424 187 195 997 707
Total noninterest expense1,372 1,110 1,156 4,734 4,410
Income (loss) from continuing operations before income taxes57 367 470 1,160 2,333
Income taxes(8)65 76 196 422
Income (loss) from continuing operations65 302 394 964 1,911
Income (loss) from discontinued operations, net of taxes— 1 — 3 6
Net income (loss)65 303 394 967 1,917
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$65 $303 $394 $967 $1,917
Income (loss) from continuing operations attributable to Key common shareholders$30 $266 $356 $821 $1,793
Net income (loss) attributable to Key common shareholders30 267 356 824 1,799
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.03 $.29 $.38 $.88 $1.94
Income (loss) from discontinued operations, net of taxes— — — — .01
Net income (loss) attributable to Key common shareholders (a) .03 .29 .38 .89 1.94
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.03 $.29 $.38 $.88 $1.92
Income (loss) from discontinued operations, net of taxes— — — — .01
Net income (loss) attributable to Key common shareholders (a) .03 .29 $.38 .88 1.93
Cash dividends declared per common share$.205 $.205 $.205 $.82 $.79
Weighted-average comm
Oct 19, 2023
4 a3q23erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
9/30/20236/30/20239/30/2022
Assets
Loans$115,544 $119,011 $116,191
Loans held for sale 730 1,130 1,048
Securities available for sale35,839 37,908 40,000
Held-to-maturity securities8,853 9,189 8,163
Trading account assets1,325 1,177 1,068
Short-term investments7,871 8,959 4,896
Other investments1,356 1,474 1,272
Total earning assets171,518 178,848 172,638
Allowance for loan and lease losses(1,488)(1,480)(1,144)
Cash and due from banks766 758 717
Premises and equipment649 652 629
Goodwill2,752 2,752 2,752
Other intangible assets65 75 106
Corporate-owned life insurance4,381 4,378 4,351
Accrued income and other assets8,843 8,668 9,535
Discontinued assets365 386 467
Total assets$187,851 $195,037 $190,051
Liabilities
Deposits in domestic offices:
Interest-bearing deposits112,581 111,766 97,875
Noninterest-bearing deposits31,710 33,366 46,980
Total deposits144,291 145,132 144,855
Federal funds purchased and securities sold under repurchase agreements 43 1,702 4,224
Bank notes and other short-term borrowings3,470 6,949 4,576
Accrued expense and other liabilities5,388 5,339 4,849
Long-term debt21,303 22,071 18,257
Total liabilities174,495 181,193 176,761
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,254 6,231 6,257
Retained earnings15,835 15,759 15,450
Treasury stock, at cost(5,851)(5,859)(5,917)
Accumulated other comprehensive income (loss)(6,639)(6,044)(6,257)
Key shareholders’ equity13,356 13,844 13,290
Noncontrolling interests— — —
Total equity13,356 13,844 13,290
Total liabilities and equity$187,851 $195,037 $190,051
Common shares outstanding (000)936,161 935,733 932,938
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedNine months ended
9/30/20236/30/20239/30/20229/30/20239/30/2022
Interest income
Loans$1,593 $1,576 $1,134 $4,645 $2,894
Loans held for sale19 17 14 49 36
Securities available for sale192 194 196 580 557
Held-to-maturity securities79 81 55 234 149
Trading account assets15 15 8 42 21
Short-term investments123 111 32 276 49
Other investments22 16 5 51 11
Total interest income2,043 2,010 1,444 5,877 3,717
Interest expense
Deposits687 531 59 1,568 93
Federal funds purchased and securities sold under repurchase agreements9 48 19 79 25
Bank notes and other short-term borrowings81 104 24 263 36
Long-term debt351 349 146 975 256
Total interest expense1,128 1,032 248 2,885 410
Net interest income915 978 1,196 2,992 3,307
Provision for credit losses81 167 109 387 237
Net interest income after provision for credit losses834 811 1,087 2,605 3,070
Noninterest income
Trust and investment services income130 126 127 384 400
Investment banking and debt placement fees141 120 154 406 466
Service charges on deposit accounts69 69 92 205 279
Operating lease income and other leasing gains22 23 19 70 79
Corporate services income73 86 96 235 283
Cards and payments income90 85 91 256 256
Corporate-owned life insurance income35 32 33 96 99
Consumer mortgage income15 14 14 40 49
Commercial mortgage servicing fees46 50 44 142 125
Other income22 4 13 26 11
Total noninterest income643 609 683 1,860 2,047
Noninterest expense
Personnel663 622 655 1,986 1,892
Net occupancy67 65 72 202 223
Computer processing89 95 77 276 232
Business services and professional fees38 41 47 124 152
Equipment20 22 23 64 72
Operating lease expense18 21 24 59 79
Marketing28 29 30 78 92
Intangible asset amortization— — — — —
Other expense187 181 178 573 512
Total noninterest expense1,110 1,076 1,106 3,362 3,254
Income (loss) from continuing operations before income taxes367 344 664 1,103 1,863
Income taxes65 58 124 204 346
Income (loss) from continuing operations302 286 540 899 1,517
Income (loss) from discontinued operations, net of taxes1 1 2 3 6
Net income (loss)303 287 542 902 1,523
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$303 $287 $542 $902 $1,523
Income (loss) from continuing operations attributable to Key common shareholders$266 $250 $513 $791 $1,437
Net income (loss) attributable to Key common shareholders267 251 515 794 1,443
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.29 $.27 $.55 $.85 $1.55
Income (loss) from discontinued operations, net of taxes— — — — .01
Net income (loss) attributable to Key common shareholders (a) .29 .27 .55 .86 1.56
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.29 $.27 $.55 $.85 $1.54
Income (loss) from discontinued operations, net of taxes— — — — .01
Net income (loss) attributable to Key common shareholders (a) .29 .27 $.55 .85 1.55
Cash dividends declared per common share$.205 $.205 $.195 $.615 $.585
Weighted-average co
Jul 20, 2023
4 a2q23erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20233/31/20236/30/2022
Assets
Loans$119,011 $119,971 $112,390
Loans held for sale 1,130 1,211 1,306
Securities available for sale37,908 39,498 42,437
Held-to-maturity securities9,189 9,561 8,186
Trading account assets1,177 1,118 809
Short-term investments8,959 8,410 2,456
Other investments1,474 1,587 969
Total earning assets178,848 181,356 168,553
Allowance for loan and lease losses(1,480)(1,380)(1,099)
Cash and due from banks758 784 678
Premises and equipment652 628 638
Goodwill2,752 2,752 2,752
Other intangible assets75 85 118
Corporate-owned life insurance4,378 4,372 4,343
Accrued income and other assets8,668 8,512 10,529
Discontinued assets386 410 496
Total assets$195,037 $197,519 $187,008
Liabilities
Deposits in domestic offices:
Interest-bearing deposits111,766 106,841 94,892
Noninterest-bearing deposits33,366 37,307 50,973
Total deposits145,132 144,148 145,865
Federal funds purchased and securities sold under repurchase agreements 1,702 1,374 3,234
Bank notes and other short-term borrowings6,949 10,061 2,809
Accrued expense and other liabilities5,339 4,861 4,056
Long-term debt22,071 22,753 16,617
Total liabilities181,193 183,197 172,581
Equity
Preferred stock2,500 2,500 1,900
Common shares1,257 1,257 1,257
Capital surplus6,231 6,207 6,241
Retained earnings15,759 15,700 15,118
Treasury stock, at cost(5,859)(5,868)(5,923)
Accumulated other comprehensive income (loss)(6,044)(5,474)(4,166)
Key shareholders’ equity13,844 14,322 14,427
Noncontrolling interests— — —
Total equity13,844 14,322 14,427
Total liabilities and equity$195,037 $197,519 $187,008
Common shares outstanding (000)935,733 935,229 932,643
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedSix months ended
6/30/20233/31/20236/30/20226/30/20236/30/2022
Interest income
Loans$1,576 $1,476 $923 $3,052 $1,760
Loans held for sale17 13 10 30 22
Securities available for sale194 194 188 388 361
Held-to-maturity securities81 74 48 155 94
Trading account assets15 12 7 27 13
Short-term investments111 42 13 153 17
Other investments16 13 4 29 6
Total interest income2,010 1,824 1,193 3,834 2,273
Interest expense
Deposits531 350 20 881 34
Federal funds purchased and securities sold under repurchase agreements48 22 6 70 6
Bank notes and other short-term borrowings104 78 9 182 12
Long-term debt349 275 61 624 110
Total interest expense1,032 725 96 1,757 162
Net interest income978 1,099 1,097 2,077 2,111
Provision for credit losses167 139 45 306 128
Net interest income after provision for credit losses811 960 1,052 1,771 1,983
Noninterest income
Trust and investment services income126 128 137 254 273
Investment banking and debt placement fees120 145 149 265 312
Service charges on deposit accounts69 67 96 136 187
Operating lease income and other leasing gains23 25 28 48 60
Corporate services income86 76 96 162 187
Cards and payments income85 81 85 166 165
Corporate-owned life insurance income32 29 35 61 66
Consumer mortgage income14 11 14 25 35
Commercial mortgage servicing fees50 46 45 96 81
Other income4 — 3 4 (2)
Total noninterest income609 608 688 1,217 1,364
Noninterest expense
Personnel622 701 607 1,323 1,237
Net occupancy65 70 78 135 151
Computer processing95 92 78 187 155
Business services and professional fees41 45 52 86 105
Equipment22 22 26 44 49
Operating lease expense21 20 27 41 55
Marketing29 21 34 50 62
Intangible asset amortization— — — — —
Other expense181 205 176 386 334
Total noninterest expense1,076 1,176 1,078 2,252 2,148
Income (loss) from continuing operations before income taxes344 392 662 736 1,199
Income taxes58 81 132 139 222
Income (loss) from continuing operations286 311 530 597 977
Income (loss) from discontinued operations, net of taxes1 1 3 2 4
Net income (loss)287 312 533 599 981
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$287 $312 $533 $599 $981
Income (loss) from continuing operations attributable to Key common shareholders$250 $275 $504 $525 $924
Net income (loss) attributable to Key common shareholders251 276 507 527 928
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.27 $.30 $.54 $.57 $1
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .27 .30 .55 .57 1
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.27 $.30 $.54 $.56 $.99
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .27 .30 $.54 .57 1.00
Cash dividends declared per common share$.205 $.205 $.195 $.41 $.39
Weighted-average common shares outstanding (000)926,741 92
Apr 20, 2023
4 a1q23erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
3/31/202312/31/20223/31/2022
Assets
Loans$119,971 $119,394 $106,600
Loans held for sale 1,211 963 1,170
Securities available for sale39,498 39,117 43,681
Held-to-maturity securities9,561 8,710 6,871
Trading account assets1,118 829 848
Short-term investments8,410 2,432 3,881
Other investments1,587 1,308 722
Total earning assets181,356 172,753 163,773
Allowance for loan and lease losses(1,380)(1,337)(1,105)
Cash and due from banks784 887 684
Premises and equipment628 636 647
Goodwill2,752 2,752 2,694
Other intangible assets85 94 118
Corporate-owned life insurance4,372 4,369 4,340
Accrued income and other assets8,512 9,223 9,544
Discontinued assets410 436 526
Total assets$197,519 $189,813 $181,221
Liabilities
Deposits in domestic offices:
Interest-bearing deposits106,841 101,761 98,239
Noninterest-bearing deposits37,307 40,834 50,424
Total deposits144,148 142,595 148,663
Federal funds purchased and securities sold under repurchase agreements 1,374 4,077 599
Bank notes and other short-term borrowings10,061 5,386 2,222
Accrued expense and other liabilities4,861 4,994 3,615
Long-term debt22,753 19,307 10,814
Total liabilities183,197 176,359 165,913
Equity
Preferred stock2,500 2,500 1,900
Common shares1,257 1,257 1,257
Capital surplus6,207 6,286 6,214
Retained earnings15,700 15,616 14,793
Treasury stock, at cost(5,868)(5,910)(5,927)
Accumulated other comprehensive income (loss)(5,474)(6,295)(2,929)
Key shareholders’ equity14,322 13,454 15,308
Noncontrolling interests— — —
Total equity14,322 13,454 15,308
Total liabilities and equity$197,519 $189,813 $181,221
Common shares outstanding (000)935,229 933,325 932,398
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedThree months ended
3/31/202312/31/20223/31/20223/31/20233/31/2022
Interest income
Loans$1,476 $1,347 $837 $1,476 $837
Loans held for sale13 20 12 13 12
Securities available for sale194 195 173 194 173
Held-to-maturity securities74 64 46 74 46
Trading account assets12 10 6 12 6
Short-term investments42 48 4 42 4
Other investments13 11 2 13 2
Total interest income1,824 1,695 1,080 1,824 1,080
Interest expense
Deposits350 186 14 350 14
Federal funds purchased and securities sold under repurchase agreements22 16 — 22 —
Bank notes and other short-term borrowings78 54 3 78 3
Long-term debt275 219 49 275 49
Total interest expense725 475 66 725 66
Net interest income1,099 1,220 1,014 1,099 1,014
Provision for credit losses139 265 83 139 83
Net interest income after provision for credit losses960 955 931 960 931
Noninterest income
Trust and investment services income128 126 136 128 136
Investment banking and debt placement fees145 172 163 145 163
Service charges on deposit accounts67 71 91 67 91
Operating lease income and other leasing gains25 24 32 25 32
Corporate services income76 89 91 76 91
Cards and payments income81 85 80 81 80
Corporate-owned life insurance income29 33 31 29 31
Consumer mortgage income11 9 21 11 21
Commercial mortgage servicing fees46 42 36 46 36
Other income— 20 (5)— (5)
Total noninterest income608 671 676 608 676
Noninterest expense
Personnel701 674 630 701 630
Net occupancy70 72 73 70 73
Computer processing92 82 77 92 77
Business services and professional fees45 60 53 45 53
Equipment22 20 23 22 23
Operating lease expense20 22 28 20 28
Marketing21 31 28 21 28
Intangible asset amortization— — — — —
Other expense205 195 158 205 158
Total noninterest expense1,176 1,156 1,070 1,176 1,070
Income (loss) from continuing operations before income taxes392 470 537 392 537
Income taxes81 76 90 81 90
Income (loss) from continuing operations311 394 447 311 447
Income (loss) from discontinued operations, net of taxes1 — 1 1 1
Net income (loss)312 394 448 312 448
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$312 $394 $448 $312 $448
Income (loss) from continuing operations attributable to Key common shareholders$275 $356 $420 $275 $420
Net income (loss) attributable to Key common shareholders276 356 421 276 421
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.30 $.38 $.45 $.3 $.45
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .30 .38 .46 .3 .46
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.30 $.38 $.45 $.30 $.45
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .30 .38 $.45 .30 .45
Cash dividends declared per common share$.205 $.205 $.195 $.205 $.195
Weighted-average common shares outstanding (000)926,490 924,974 922,941 926,490 922,941
Effect of comm
Jan 19, 2023
4 a4q22erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/20229/30/202212/31/2021
Assets
Loans$119,394 $116,191 $101,854
Loans held for sale 963 1,048 2,729
Securities available for sale39,117 40,000 45,364
Held-to-maturity securities8,710 8,163 7,539
Trading account assets829 1,068 701
Short-term investments2,432 4,896 11,010
Other investments1,308 1,272 639
Total earning assets172,753 172,638 169,836
Allowance for loan and lease losses(1,337)(1,144)(1,061)
Cash and due from banks887 717 913
Premises and equipment636 629 681
Goodwill2,752 2,752 2,693
Other intangible assets94 106 130
Corporate-owned life insurance4,369 4,351 4,327
Accrued income and other assets9,223 9,535 8,265
Discontinued assets436 467 562
Total assets$189,813 $190,051 $186,346
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts$86,707 $84,168 $89,207
Savings deposits7,681 7,860 7,503
Certificates of deposit ($100,000 or more)1,708 1,269 1,705
Other time deposits5,665 4,578 2,153
Total interest-bearing deposits101,761 97,875 100,568
Noninterest-bearing deposits40,834 46,980 52,004
Total deposits142,595 144,855 152,572
Federal funds purchased and securities sold under repurchase agreements 4,077 4,224 173
Bank notes and other short-term borrowings5,386 4,576 588
Accrued expense and other liabilities4,994 4,849 3,548
Long-term debt19,307 18,257 12,042
Total liabilities176,359 176,761 168,923
Equity
Preferred stock2,500 2,500 1,900
Common shares1,257 1,257 1,257
Capital surplus6,286 6,257 6,278
Retained earnings15,616 15,450 14,553
Treasury stock, at cost(5,910)(5,917)(5,979)
Accumulated other comprehensive income (loss)(6,295)(6,257)(586)
Key shareholders’ equity13,454 13,290 17,423
Noncontrolling interests— — —
Total equity13,454 13,290 17,423
Total liabilities and equity$189,813 $190,051 $186,346
Common shares outstanding (000)933,325 932,938 928,850
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedTwelve months ended
12/31/20229/30/202212/31/202112/31/202212/31/2021
Interest income
Loans$1,347 $1,134 $873 $4,241 $3,532
Loans held for sale20 14 15 56 50
Securities available for sale195 196 148 752 546
Held-to-maturity securities64 55 52 213 185
Trading account assets10 8 5 31 19
Short-term investments48 32 8 97 28
Other investments11 5 2 22 7
Total interest income1,695 1,444 1,103 5,412 4,367
Interest expense
Deposits186 59 15 279 67
Federal funds purchased and securities sold under repurchase agreements16 19 — 41 —
Bank notes and other short-term borrowings54 24 2 90 8
Long-term debt219 146 53 475 221
Total interest expense475 248 70 885 296
Net interest income1,220 1,196 1,033 4,527 4,071
Provision for credit losses265 109 4 502 (418)
Net interest income after provision for credit losses955 1,087 1,029 4,025 4,489
Noninterest income
Trust and investment services income126 127 135 526 530
Investment banking and debt placement fees172 154 323 638 937
Service charges on deposit accounts71 92 90 350 337
Operating lease income and other leasing gains24 19 37 103 148
Corporate services income89 96 76 372 288
Cards and payments income85 91 86 341 415
Corporate-owned life insurance income33 33 34 132 128
Consumer mortgage income9 14 25 58 131
Commercial mortgage servicing fees42 44 48 167 160
Other income20 13 55 31 120
Total noninterest income671 683 909 2,718 3,194
Noninterest expense
Personnel674 655 674 2,566 2,561
Net occupancy72 72 75 295 300
Computer processing82 77 73 314 284
Business services and professional fees60 47 70 212 227
Equipment20 23 25 92 100
Operating lease expense22 24 31 101 126
Marketing31 30 37 123 126
Intangible asset amortization— — — — —
Other expense195 178 185 707 705
Total noninterest expense1,156 1,106 1,170 4,410 4,429
Income (loss) from continuing operations before income taxes470 664 768 2,333 3,254
Income taxes76 124 141 422 642
Income (loss) from continuing operations394 540 627 1,911 2,612
Income (loss) from discontinued operations, net of taxes— 2 2 6 13
Net income (loss)394 542 629 1,917 2,625
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$394 $542 $629 $1,917 $2,625
Income (loss) from continuing operations attributable to Key common shareholders$356 $513 $601 $1,793 $2,506
Net income (loss) attributable to Key common shareholders356 515 603 1,799 2,519
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.38 $.55 $.65 $1.94 $2.6397
Income (loss) from discontinued operations, net of taxes— — — .01 .0134
Net income (loss) attributable to Key common shareholders (a) .38 .55 .65 1.94 2.6531
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.38 $.55 $.64 $1.92 $2.62
Income (loss) from discon
Oct 20, 2022
4 a3q22erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
9/30/20226/30/20229/30/2021
Assets
Loans$116,191 $112,390 $98,609
Loans held for sale 1,048 1,306 1,805
Securities available for sale40,000 42,437 40,594
Held-to-maturity securities8,163 8,186 8,423
Trading account assets1,068 809 902
Short-term investments4,896 2,456 19,608
Other investments1,272 969 607
Total earning assets172,638 168,553 170,548
Allowance for loan and lease losses(1,144)(1,099)(1,084)
Cash and due from banks717 678 763
Premises and equipment629 638 678
Goodwill2,752 2,752 2,673
Other intangible assets106 118 144
Corporate-owned life insurance4,351 4,343 4,312
Accrued income and other assets9,535 10,529 8,404
Discontinued assets467 496 597
Total assets$190,051 $187,008 $187,035
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts$84,168 $83,628 $87,242
Savings deposits7,860 7,934 7,259
Certificates of deposit ($100,000 or more)1,269 1,421 1,890
Other time deposits4,578 1,909 2,315
Total interest-bearing deposits97,875 94,892 98,706
Noninterest-bearing deposits46,980 50,973 53,225
Total deposits144,855 145,865 151,931
Federal funds purchased and securities sold under repurchase agreements 4,224 3,234 228
Bank notes and other short-term borrowings4,576 2,809 767
Accrued expense and other liabilities4,849 4,056 3,434
Long-term debt18,257 16,617 13,165
Total liabilities176,761 172,581 169,525
Equity
Preferred stock2,500 1,900 1,900
Common shares1,257 1,257 1,257
Capital surplus6,257 6,241 6,141
Retained earnings15,450 15,118 14,133
Treasury stock, at cost(5,917)(5,923)(5,876)
Accumulated other comprehensive income (loss)(6,257)(4,166)(45)
Key shareholders’ equity13,290 14,427 17,510
Noncontrolling interests— — —
Total equity13,290 14,427 17,510
Total liabilities and equity$190,051 $187,008 $187,035
Common shares outstanding (000)932,938 932,643 930,544
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedNine months ended
9/30/20226/30/20229/30/20219/30/20229/30/2021
Interest income
Loans$1,134 $923 $882 $2,894 $2,659
Loans held for sale14 10 13 36 35
Securities available for sale196 188 135 557 398
Held-to-maturity securities55 48 43 149 133
Trading account assets8 7 4 21 14
Short-term investments32 13 9 49 20
Other investments5 4 1 11 5
Total interest income1,444 1,193 1,087 3,717 3,264
Interest expense
Deposits59 20 15 93 52
Federal funds purchased and securities sold under repurchase agreements19 6 — 25 —
Bank notes and other short-term borrowings24 9 2 36 6
Long-term debt146 61 54 256 168
Total interest expense248 96 71 410 226
Net interest income1,196 1,097 1,016 3,307 3,038
Provision for credit losses109 45 (107)237 (422)
Net interest income after provision for credit losses1,087 1,052 1,123 3,070 3,460
Noninterest income
Trust and investment services income127 137 129 400 395
Investment banking and debt placement fees154 149 235 466 614
Service charges on deposit accounts92 96 91 279 247
Operating lease income and other leasing gains19 28 37 79 111
Corporate services income96 96 74 283 212
Cards and payments income91 85 111 256 329
Corporate-owned life insurance income33 35 33 99 94
Consumer mortgage income14 14 33 49 106
Commercial mortgage servicing fees44 45 34 125 112
Other income13 3 20 11 65
Total noninterest income683 688 797 2,047 2,285
Noninterest expense
Personnel655 607 640 1,892 1,887
Net occupancy72 78 74 223 225
Computer processing77 78 67 232 211
Business services and professional fees47 52 56 152 157
Equipment23 26 25 72 75
Operating lease expense24 27 30 79 95
Marketing30 34 32 92 89
Intangible asset amortization— — — — —
Other expense178 176 188 512 520
Total noninterest expense1,106 1,078 1,112 3,254 3,259
Income (loss) from continuing operations before income taxes664 662 808 1,863 2,486
Income taxes124 132 165 346 501
Income (loss) from continuing operations540 530 643 1,517 1,985
Income (loss) from discontinued operations, net of taxes2 3 2 6 11
Net income (loss)542 533 645 1,523 1,996
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$542 $533 $645 $1,523 $1,996
Income (loss) from continuing operations attributable to Key common shareholders$513 $504 $616 $1,437 $1,905
Net income (loss) attributable to Key common shareholders515 507 618 1,443 1,916
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.55 $.54 $.65 $1.55 $1.99
Income (loss) from discontinued operations, net of taxes— — — .01 .01
Net income (loss) attributable to Key common shareholders (a) .55 .55 .66 1.56 2
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.55 $.54 $.65 $1.54 $1.98
Income (loss) from discontinued operations, net of taxes—
Jul 21, 2022
4 a2q22erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20223/31/20226/30/2021
Assets
Loans$112,390 $106,600 $100,730
Loans held for sale 1,306 1,170 1,537
Securities available for sale42,437 43,681 34,638
Held-to-maturity securities8,186 6,871 6,175
Trading account assets809 848 851
Short-term investments2,456 3,881 20,460
Other investments969 722 635
Total earning assets168,553 163,773 165,026
Allowance for loan and lease losses(1,099)(1,105)(1,220)
Cash and due from banks678 684 792
Premises and equipment638 647 785
Goodwill2,752 2,694 2,673
Other intangible assets118 118 159
Corporate-owned life insurance4,343 4,340 4,304
Accrued income and other assets10,529 9,544 7,966
Discontinued assets496 526 630
Total assets$187,008 $181,221 $181,115
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts$83,628 $86,829 $85,242
Savings deposits7,934 7,840 6,993
Certificates of deposit ($100,000 or more)1,421 1,533 2,064
Other time deposits1,909 2,037 2,493
Total interest-bearing deposits94,892 98,239 96,792
Noninterest-bearing deposits50,973 50,424 49,280
Total deposits145,865 148,663 146,072
Federal funds purchased and securities sold under repurchase agreements 3,234 599 211
Bank notes and other short-term borrowings2,809 2,222 723
Accrued expense and other liabilities4,056 3,615 2,957
Long-term debt16,617 10,814 13,211
Total liabilities172,581 165,913 163,174
Equity
Preferred stock1,900 1,900 1,900
Common shares1,257 1,257 1,257
Capital surplus6,241 6,214 6,232
Retained earnings15,118 14,793 13,689
Treasury stock, at cost(5,923)(5,927)(5,287)
Accumulated other comprehensive income (loss)(4,166)(2,929)150
Key shareholders’ equity14,427 15,308 17,941
Noncontrolling interests— — —
Total equity14,427 15,308 17,941
Total liabilities and equity$187,008 $181,221 $181,115
Common shares outstanding (000)932,643 932,398 960,276
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedSix months ended
6/30/20223/31/20226/30/20216/30/20226/30/2021
Interest income
Loans$923 $837 $888 $1,760 $1,777
Loans held for sale10 12 11 22 22
Securities available for sale188 173 133 361 263
Held-to-maturity securities48 46 45 94 90
Trading account assets7 6 5 13 10
Short-term investments13 4 6 17 11
Other investments4 2 2 6 4
Total interest income1,193 1,080 1,090 2,273 2,177
Interest expense
Deposits20 14 16 34 37
Federal funds purchased and securities sold under repurchase agreements6 — — 6 —
Bank notes and other short-term borrowings9 3 3 12 4
Long-term debt61 49 54 110 114
Total interest expense96 66 73 162 155
Net interest income1,097 1,014 1,017 2,111 2,022
Provision for credit losses45 83 (222)128 (315)
Net interest income after provision for credit losses1,052 931 1,239 1,983 2,337
Noninterest income
Trust and investment services income137 136 133 273 266
Investment banking and debt placement fees149 163 217 312 379
Service charges on deposit accounts96 91 83 187 156
Operating lease income and other leasing gains28 32 36 60 74
Corporate services income88 90 55 178 119
Cards and payments income85 80 113 165 218
Corporate-owned life insurance income35 31 30 66 61
Consumer mortgage income14 21 26 35 73
Commercial mortgage servicing fees45 36 44 81 78
Other income11 (4)13 7 64
Total noninterest income688 676 750 1,364 1,488
Noninterest expense
Personnel607 630 623 1,237 1,247
Net occupancy78 73 75 151 151
Computer processing78 77 71 155 144
Business services and professional fees52 53 51 105 101
Equipment26 23 25 49 50
Operating lease expense27 28 31 55 65
Marketing34 28 31 62 57
Intangible asset amortization— — — — —
Other expense176 158 169 334 332
Total noninterest expense1,078 1,070 1,076 2,148 2,147
Income (loss) from continuing operations before income taxes662 537 913 1,199 1,678
Income taxes132 90 189 222 336
Income (loss) from continuing operations530 447 724 977 1,342
Income (loss) from discontinued operations, net of taxes3 1 5 4 9
Net income (loss)533 448 729 981 1,351
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$533 $448 $729 $981 $1,351
Income (loss) from continuing operations attributable to Key common shareholders$504 $420 $698 $924 $1,289
Net income (loss) attributable to Key common shareholders507 421 703 928 1,298
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.54 $.45 $.73 $1 $1.34
Income (loss) from discontinued operations, net of taxes— — — — .01
Net income (loss) attributable to Key common shareholders (a) .55 .46 .73 1 1.35
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.54 $.45 $.72 $.99 $1.33
Income (loss) from discontinued operations, net of taxes— — — — .01
Net income (loss) attributable
Jul 21, 2022
2 d291273dex991.htm
Exhibit 99.1
Positive operating leverage compared to the prior quarter and year-ago period
Revenue up 6% from the prior quarter, driven by growth in net interest income
Strong loan growth across commercial and consumer businesses
Credit quality remains strong with net charge-offs to average loans of 16 basis points
Expanded Laurel Road’s offering for healthcare professionals and completed acquisition of GradFin
CLEVELAND, July 21, 2022 - KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $504 million, or $.54 per diluted common share for the second quarter of 2022. This compared to $420 million, or $.45 per diluted common share, for the first quarter of 2022 and $698 million, or $.72 per diluted common share, for the second quarter of 2021.
“Key’s second quarter results demonstrate the strength and resiliency of both our business model and our team, while navigating dynamic market conditions. We remain well positioned to support our clients through the economic cycle.
This quarter, we continued to gain market share and deepen client relationships in both our commercial and consumer businesses, resulting in strong loan growth across our franchise. Additionally, we expanded Laurel Road’s targeted offering to nurses and completed the acquisition of GradFin, a leading loan counselor for healthcare professionals.
The quality of our balance sheet continues to be a strength, as we focus on delivering sound, profitable growth. Credit quality remains strong, supported by our strong risk culture and disciplined underwriting practices.
We delivered positive operating leverage. Further, we remain confident in our ability to make continued progress against our long-term financial targets and to deliver value for all of our stakeholders.”
- Chris Gorman, Chairman and CEO
KeyCorp Reports Second Quarter 2022 Profit
July 21, 2022
Page 2
Selected Financial Highlights
Dollars in millions, except per share data
Change 2Q22 vs.
Income (loss) from continuing operations attributable to Key common shareholders
$ 504
$ 420
$ 698
20.0 %
(27.8 )%
Income (loss) from continuing operations attributable to Key common shareholders per common share — assuming dilution
.54
.45
.72
20.0
(25.0 )
Return on average tangible common equity from continuing operations (a)
20.90 %
14.12 %
21.34 %
N /A
N /A
Return on average total assets from continuing operations
1.16
.99
1.63
N /A
N /A
Common Equity Tier 1 ratio (b)
9.2
9.4
9.9
N /A
N /A
Book value at period end
$ 13.48
$ 14.43
$ 16.75
(6.6 )
(19.5 )
Net interest margin (TE) from continuing operations
2.61 %
2.46 %
2.52 %
N /A
N /A
(a)
The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures related to “Return on average tangible common equity from continuing operations.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.
(b)
June 30, 2022 ratio is estimated.
TE = Taxable Equivalent, N/A = Not Applicable
Revenue
Dollars in millions
Change 2Q22 vs.
Net interest income (TE)
$ 1,104
$ 1,020
$ 1,023
8.2 %
7.9 %
Noninterest income
688
676
750
1.8
(8.3)
Total revenue
$ 1,792
$ 1,696
$ 1,773
5.7 %
1.1 %
TE = Taxable Equivalent
Taxable-equivalent net interest income was $1.1 billion for the second quarter of 2022 and the net interest margin was 2.61%. Compared to the second quarter of 2021, net interest income increased $81 million and the net interest margin increased by nine basis points. Net interest income and the net interest margin benefited from higher earning asset balances, a favorable balance sheet mix, and higher interest rates. Net interest income and the net interest margin were negatively impacted by the exit of the indirect auto loan portfolio and lower loan fees from the Paycheck Protection Program (“PPP”).
Compared to the first quarter of 2022, taxable-equivalent net interest income increased by $84 million and the net interest margin increased by 15 basis points. Net interest income and the net interest margin benefited from a favorable balance sheet mix and higher interest rates, partly offset by lower loan fees related to the PPP and higher interest-bearing deposit costs. Net interest income also benefited from one additional day in the quarter.
Noninterest Income
Dollars in millions
Change 2Q22 vs.
Trust and investment services income
$ 137
$ 136
$ 133
.7 %
3.0 %
Investment banking and debt placement fees
149
163
217
(8.6)
(31.3)
Service charges on deposit accounts
96
91
83
Apr 21, 2022
4 a1q22erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
3/31/202212/31/20213/31/2021
Assets
Loans$106,600 $101,854 $100,926
Loans held for sale 1,170 2,729 2,296
Securities available for sale43,681 45,364 33,923
Held-to-maturity securities6,871 7,539 6,857
Trading account assets848 701 811
Short-term investments3,881 11,010 15,376
Other investments722 639 621
Total earning assets163,773 169,836 160,810
Allowance for loan and lease losses(1,105)(1,061)(1,438)
Cash and due from banks684 913 938
Premises and equipment647 681 737
Goodwill2,694 2,693 2,673
Other intangible assets118 130 173
Corporate-owned life insurance4,340 4,327 4,296
Accrued income and other assets9,544 8,265 7,347
Discontinued assets526 562 667
Total assets$181,221 $186,346 $176,203
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts$86,829 $89,207 $82,777
Savings deposits7,840 7,503 6,655
Certificates of deposit ($100,000 or more)1,533 1,705 2,437
Other time deposits2,037 2,153 2,782
Total interest-bearing deposits98,239 100,568 94,651
Noninterest-bearing deposits50,424 52,004 47,532
Total deposits148,663 152,572 142,183
Federal funds purchased and securities sold under repurchase agreements 599 173 281
Bank notes and other short-term borrowings2,222 588 744
Accrued expense and other liabilities3,615 3,548 2,862
Long-term debt10,814 12,042 12,499
Total liabilities165,913 168,923 158,569
Equity
Preferred stock1,900 1,900 1,900
Common shares1,257 1,257 1,257
Capital surplus6,214 6,278 6,213
Retained earnings14,793 14,553 13,166
Treasury stock, at cost(5,927)(5,979)(5,005)
Accumulated other comprehensive income (loss)(2,929)(586)103
Key shareholders’ equity15,308 17,423 17,634
Noncontrolling interests— — —
Total equity15,308 17,423 17,634
Total liabilities and equity$181,221 $186,346 $176,203
Common shares outstanding (000)932,398 928,850 972,587
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedThree months ended
3/31/202212/31/20213/31/20213/31/20223/31/2021
Interest income
Loans$837 $873 $889 $837 $889
Loans held for sale12 15 11 12 11
Securities available for sale173 148 130 173 130
Held-to-maturity securities46 52 45 46 45
Trading account assets6 5 5 6 5
Short-term investments4 8 5 4 5
Other investments2 2 2 2 2
Total interest income1,080 1,103 1,087 1,080 1,087
Interest expense
Deposits14 15 21 14 21
Federal funds purchased and securities sold under repurchase agreements— — — — —
Bank notes and other short-term borrowings3 2 1 3 1
Long-term debt49 53 60 49 60
Total interest expense66 70 82 66 82
Net interest income1,014 1,033 1,005 1,014 1,005
Provision for credit losses83 4 (93)83 (93)
Net interest income after provision for credit losses931 1,029 1,098 931 1,098
Noninterest income
Trust and investment services income136 135 133 136 133
Investment banking and debt placement fees163 323 162 163 162
Service charges on deposit accounts91 90 73 91 73
Operating lease income and other leasing gains32 37 38 32 38
Corporate services income90 73 64 90 64
Cards and payments income80 86 105 80 105
Corporate-owned life insurance income31 34 31 31 31
Consumer mortgage income21 25 47 21 47
Commercial mortgage servicing fees36 48 34 36 34
Other income(4)58 51 (4)51
Total noninterest income676 909 738 676 738
Noninterest expense
Personnel630 674 624 630 624
Net occupancy73 75 76 73 76
Computer processing77 73 73 77 73
Business services and professional fees53 70 50 53 50
Equipment23 25 25 23 25
Operating lease expense28 31 34 28 34
Marketing28 37 26 28 26
Intangible asset amortization— — — — —
Other expense158 185 163 158 163
Total noninterest expense1,070 1,170 1,071 1,070 1,071
Income (loss) from continuing operations before income taxes537 768 765 537 765
Income taxes90 141 147 90 147
Income (loss) from continuing operations447 627 618 447 618
Income (loss) from discontinued operations, net of taxes1 2 4 1 4
Net income (loss)448 629 622 448 622
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$448 $629 $622 $448 $622
Income (loss) from continuing operations attributable to Key common shareholders$420 $601 $591 $420 $591
Net income (loss) attributable to Key common shareholders421 603 595 421 595
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.45 $.65 $.61 $.45 $.61
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .46 .65 .62 .46 .62
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.45 $.64 $.61 $.45 $.61
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .45 .64 $.61 .45 .61
Cash
Jan 20, 2022
4 a4q21erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/20219/30/202112/31/2020
Assets
Loans$101,854 $98,609 $101,185
Loans held for sale 2,729 1,805 1,583
Securities available for sale45,364 40,594 27,556
Held-to-maturity securities7,539 8,423 7,595
Trading account assets701 902 735
Short-term investments11,010 19,608 16,194
Other investments639 607 621
Total earning assets169,836 170,548 155,469
Allowance for loan and lease losses(1,061)(1,084)(1,626)
Cash and due from banks913 763 1,091
Premises and equipment681 678 753
Goodwill2,693 2,673 2,664
Other intangible assets130 144 188
Corporate-owned life insurance4,327 4,312 4,286
Accrued income and other assets8,265 8,404 6,812
Discontinued assets562 597 699
Total assets$186,346 $187,035 $170,336
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts$89,207 $87,242 $80,427
Savings deposits7,503 7,259 5,913
Certificates of deposit ($100,000 or more)1,705 1,890 2,733
Other time deposits2,153 2,315 3,010
Total interest-bearing deposits100,568 98,706 92,083
Noninterest-bearing deposits52,004 53,225 43,199
Total deposits152,572 151,931 135,282
Federal funds purchased and securities sold under repurchase agreements 173 228 220
Bank notes and other short-term borrowings588 767 759
Accrued expense and other liabilities3,548 3,434 2,385
Long-term debt12,042 13,165 13,709
Total liabilities168,923 169,525 152,355
Equity
Preferred stock1,900 1,900 1,900
Common shares1,257 1,257 1,257
Capital surplus6,278 6,141 6,281
Retained earnings14,553 14,133 12,751
Treasury stock, at cost(5,979)(5,876)(4,946)
Accumulated other comprehensive income (loss)(586)(45)738
Key shareholders’ equity17,423 17,510 17,981
Noncontrolling interests— — —
Total equity17,423 17,510 17,981
Total liabilities and equity$186,346 $187,035 $170,336
Common shares outstanding (000)928,850 930,544 975,773
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedTwelve months ended
12/31/20219/30/202112/31/202012/31/202112/31/2020
Interest income
Loans$873 $882 $933 $3,532 $3,866
Loans held for sale15 13 11 50 69
Securities available for sale148 135 119 546 484
Held-to-maturity securities52 43 51 185 222
Trading account assets5 4 4 19 20
Short-term investments8 9 4 28 18
Other investments2 1 3 7 6
Total interest income1,103 1,087 1,125 4,367 4,685
Interest expense
Deposits15 15 28 67 347
Federal funds purchased and securities sold under repurchase agreements— — — — 6
Bank notes and other short-term borrowings2 2 1 8 12
Long-term debt53 54 61 221 286
Total interest expense70 71 90 296 651
Net interest income1,033 1,016 1,035 4,071 4,034
Provision for credit losses4 (107)20 (418)1,021
Net interest income after provision for credit losses1,029 1,123 1,015 4,489 3,013
Noninterest income
Trust and investment services income135 129 123 530 507
Investment banking and debt placement fees323 235 243 937 661
Service charges on deposit accounts90 91 82 337 311
Operating lease income and other leasing gains37 37 39 148 167
Corporate services income73 69 63 261 228
Cards and payments income86 111 97 415 368
Corporate-owned life insurance income34 33 38 128 139
Consumer mortgage income25 33 43 131 176
Commercial mortgage servicing fees48 34 32 160 80
Other income58 25 42 147 15
Total noninterest income909 797 802 3,194 2,652
Noninterest expense
Personnel674 640 661 2,561 2,336
Net occupancy75 74 75 300 298
Computer processing73 67 62 284 232
Business services and professional fees70 56 54 227 196
Equipment25 25 26 100 100
Operating lease expense31 30 35 126 138
Marketing37 32 30 126 97
Intangible asset amortization14 15 15 58 65
Other expense171 173 170 647 647
Total noninterest expense1,170 1,112 1,128 4,429 4,109
Income (loss) from continuing operations before income taxes768 808 689 3,254 1,556
Income taxes141 165 114 642 227
Income (loss) from continuing operations627 643 575 2,612 1,329
Income (loss) from discontinued operations, net of taxes2 2 7 13 14
Net income (loss)629 645 582 2,625 1,343
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$629 $645 $582 $2,625 $1,343
Income (loss) from continuing operations attributable to Key common shareholders$601 $616 $549 $2,506 $1,223
Net income (loss) attributable to Key common shareholders603 618 556 2,519 1,237
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.65 $.65 $.57 $2.6397 $1.26
Income (loss) from discontinued operations, net of taxes— — .01 .0134 .01
Net income (loss) attributable to Key common shareholders (a) .65 .66 .57 2.6531 1.28
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.64 $.65 $.56 $2.62 $1.26
Income (loss) from discontinued operations, ne
This page provides KeyCorp (KEY) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on KEY's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.