Attached files
| file | filename |
|---|---|
| 8-K - 8-K - KEYCORP /NEW/ | d335896d8k.htm |
| EX-99.2 - EX-99.2 - KEYCORP /NEW/ | d335896dex992.htm |
| EX-99.1 - EX-99.1 - KEYCORP /NEW/ | d335896dex991.htm |
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
| 3-31-12 | 12-31-11 | 3-31-11 | ||||||||||
| Assets |
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| Loans |
$ | 49,226 | $ | 49,575 | $ | 48,552 | ||||||
| Loans held for sale |
511 | 728 | 426 | |||||||||
| Securities available for sale |
14,633 | 16,012 | 19,448 | |||||||||
| Held-to-maturity securities |
3,019 | 2,109 | 19 | |||||||||
| Trading account assets |
614 | 623 | 1,041 | |||||||||
| Short-term investments |
3,605 | 3,519 | 3,705 | |||||||||
| Other investments |
1,188 | 1,163 | 1,402 | |||||||||
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| Total earning assets |
72,796 | 73,729 | 74,593 | |||||||||
| Allowance for loan and lease losses |
(944 | ) | (1,004 | ) | (1,372 | ) | ||||||
| Cash and due from banks |
416 | 694 | 540 | |||||||||
| Premises and equipment |
937 | 944 | 906 | |||||||||
| Operating lease assets |
335 | 350 | 491 | |||||||||
| Goodwill |
917 | 917 | 917 | |||||||||
| Other intangible assets |
15 | 17 | 20 | |||||||||
| Corporate-owned life insurance |
3,270 | 3,256 | 3,187 | |||||||||
| Derivative assets |
830 | 945 | 1,005 | |||||||||
| Accrued income and other assets |
3,091 | 3,077 | 3,758 | |||||||||
| Discontinued assets |
5,768 | 5,860 | 6,393 | |||||||||
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| Total assets |
$ | 87,431 | $ | 88,785 | $ | 90,438 | ||||||
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| Liabilities |
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| Deposits in domestic offices: |
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| NOW and money market deposit accounts |
$ | 29,124 | $ | 27,954 | $ | 26,177 | ||||||
| Savings deposits |
2,075 | 1,962 | 1,964 | |||||||||
| Certificates of deposit ($100,000 or more) |
3,984 | 4,111 | 5,314 | |||||||||
| Other time deposits |
5,848 | 6,243 | 7,597 | |||||||||
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| Total interest-bearing deposits |
41,031 | 40,270 | 41,052 | |||||||||
| Noninterest-bearing deposits |
19,606 | 21,098 | 16,495 | |||||||||
| Deposits in foreign office — interest-bearing |
857 | 588 | 3,263 | |||||||||
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| Total deposits |
61,494 | 61,956 | 60,810 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements |
1,846 | 1,711 | 2,232 | |||||||||
| Bank notes and other short-term borrowings |
324 | 337 | 685 | |||||||||
| Derivative liabilities |
754 | 1,026 | 1,106 | |||||||||
| Accrued expense and other liabilities |
1,450 | 1,763 | 1,931 | |||||||||
| Long-term debt |
8,898 | 9,520 | 11,048 | |||||||||
| Discontinued liabilities |
2,549 | 2,550 | 2,929 | |||||||||
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| Total liabilities |
77,315 | 78,863 | 80,741 | |||||||||
| Equity |
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| Preferred stock, Series A |
291 | 291 | 291 | |||||||||
| Common shares |
1,017 | 1,017 | 1,017 | |||||||||
| Common stock warrant |
— | — | 87 | |||||||||
| Capital surplus |
4,116 | 4,194 | 4,167 | |||||||||
| Retained earnings |
6,411 | 6,246 | 5,721 | |||||||||
| Treasury stock, at cost |
(1,717 | ) | (1,815 | ) | (1,823 | ) | ||||||
| Accumulated other comprehensive income (loss) |
(19 | ) | (28 | ) | (35 | ) | ||||||
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| Key shareholders’ equity |
10,099 | 9,905 | 9,425 | |||||||||
| Noncontrolling interests |
17 | 17 | 272 | |||||||||
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| Total equity |
10,116 | 9,922 | 9,697 | |||||||||
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| Total liabilities and equity |
$ | 87,431 | $ | 88,785 | $ | 90,438 | ||||||
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| Common shares outstanding (000) |
956,102 | 953,008 | 953,926 | |||||||||
Consolidated Statements of Income
(dollars in millions, except per share amounts)
| Three months ended | ||||||||||||
| 3-31-12 | 12-31-11 | 3-31-11 | ||||||||||
| Interest income |
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| Loans |
$ | 536 | $ | 542 | $ | 570 | ||||||
| Loans held for sale |
5 | 4 | 4 | |||||||||
| Securities available for sale |
116 | 128 | 166 | |||||||||
| Held-to-maturity securities |
12 | 9 | — | |||||||||
| Trading account assets |
6 | 5 | 7 | |||||||||
| Short-term investments |
1 | 1 | 1 | |||||||||
| Other investments |
8 | 9 | 12 | |||||||||
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| Total interest income |
684 | 698 | 760 | |||||||||
| Interest expense |
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| Deposits |
77 | 85 | 110 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements |
1 | 1 | 1 | |||||||||
| Bank notes and other short-term borrowings |
2 | 2 | 3 | |||||||||
| Long-term debt |
51 | 53 | 49 | |||||||||
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| Total interest expense |
131 | 141 | 163 | |||||||||
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| Net interest income |
553 | 557 | 597 | |||||||||
| Provision (credit) for loan and lease losses |
42 | (22 | ) | (40 | ) | |||||||
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| Net interest income (expense) after provision for loan and lease losses |
511 | 579 | 637 | |||||||||
| Noninterest income |
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| Trust and investment services income |
109 | 104 | 110 | |||||||||
| Service charges on deposit accounts |
68 | 70 | 68 | |||||||||
| Operating lease income |
22 | 25 | 35 | |||||||||
| Letter of credit and loan fees |
54 | 56 | 55 | |||||||||
| Corporate-owned life insurance income |
30 | 35 | 27 | |||||||||
| Net securities gains (losses) (a) |
— | — | (1 | ) | ||||||||
| Electronic banking fees |
17 | 18 | 30 | |||||||||
| Gains on leased equipment |
27 | 9 | 4 | |||||||||
| Insurance income |
12 | 11 | 15 | |||||||||
| Net gains (losses) from loan sales |
22 | 27 | 19 | |||||||||
| Net gains (losses) from principal investing |
35 | (8 | ) | 35 | ||||||||
| Investment banking and capital markets income (loss) |
43 | 24 | 43 | |||||||||
| Other income |
33 | 43 | 17 | |||||||||
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| Total noninterest income |
472 | 414 | 457 | |||||||||
| Noninterest expense |
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| Personnel |
385 | 387 | 371 | |||||||||
| Net occupancy |
64 | 66 | 65 | |||||||||
| Operating lease expense |
17 | 18 | 28 | |||||||||
| Computer processing |
41 | 42 | 42 | |||||||||
| Business services and professional fees |
38 | 57 | 38 | |||||||||
| FDIC assessment |
8 | 7 | 29 | |||||||||
| OREO expense, net |
6 | 5 | 10 | |||||||||
| Equipment |
26 | 25 | 26 | |||||||||
| Marketing |
13 | 24 | 10 | |||||||||
| Provision (credit) for losses on lending-related commitments |
— | (11 | ) | (4 | ) | |||||||
| Other expense |
105 | 97 | 86 | |||||||||
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| Total noninterest expense |
703 | 717 | 701 | |||||||||
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| Income (loss) from continuing operations before income taxes |
280 | 276 | 393 | |||||||||
| Income taxes |
75 | 69 | 111 | |||||||||
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| Income (loss) from continuing operations |
205 | 207 | 282 | |||||||||
| Income (loss) from discontinued operations, net of taxes |
(5 | ) | (7 | ) | (11 | ) | ||||||
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| Net income (loss) |
200 | 200 | 271 | |||||||||
| Less: Net income (loss) attributable to noncontrolling interests |
— | — | 8 | |||||||||
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| Net income (loss) attributable to Key |
$ | 200 | $ | 200 | $ | 263 | ||||||
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | 199 | $ | 201 | $ | 184 | ||||||
| Net income (loss) attributable to Key common shareholders |
194 | 194 | 173 | |||||||||
| Per common share |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .21 | $ | .21 | $ | .21 | ||||||
| Income (loss) from discontinued operations, net of taxes |
(.01 | ) | (.01 | ) | (.01 | ) | ||||||
| Net income (loss) attributable to Key common shareholders |
.20 | .20 | .20 | |||||||||
| Per common share — assuming dilution |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .21 | $ | .21 | $ | .21 | ||||||
| Income (loss) from discontinued operations, net of taxes |
(.01 | ) | (.01 | ) | (.01 | ) | ||||||
| Net income (loss) attributable to Key common shareholders (c) |
.20 | .20 | .19 | |||||||||
| Cash dividends declared per common share |
$ | .03 | $ | .03 | $ | .01 | ||||||
| Weighted-average common shares outstanding (000) |
949,342 | 948,658 | 881,894 | |||||||||
| Weighted-average common shares and potential common shares outstanding (000) (b) |
953,971 | 951,684 | 887,836 | |||||||||
| (a) | For the three months ended March 31, 2012, December 31, 2011, and March 31, 2011 Key did not have any impairment losses related to securities. |
| (b) | Assumes conversion of stock options and/or Preferred Series A shares, as applicable. |
| (c) | Earnings per share may not foot due to rounding. |