KEYCORP /NEW/ - FORM 8-K - EX-99.3

Attached files

file	filename
EX-99.2 - EX-99.2 - KEYCORP /NEW/	d425043dex992.htm
EX-99.1 - EX-99.1 - KEYCORP /NEW/	d425043dex991.htm
8-K - 8-K - KEYCORP /NEW/	d425043d8k.htm

Exhibit 99.3

Consolidated Balance Sheets

(dollars in millions)


	9-30-12			6-30-12			9-30-11
Assets
Loans	$	51,419		$	49,605		$	48,195
Loans held for sale		628			656			479
Securities available for sale		11,962			13,205			17,612
Held-to-maturity securities		4,153			4,352			1,176
Trading account assets		663			679			729
Short-term investments		2,208			2,216			4,766
Other investments		1,106			1,186			1,210

Total earning assets		72,139			71,899			74,167
Allowance for loan and lease losses		(888	)		(888	)		(1,131	)
Cash and due from banks		974			717			828
Premises and equipment		942			931			924
Operating lease assets		290			318			393
Goodwill		979			917			917
Other intangible assets		182			15			18
Corporate-owned life insurance		3,309			3,285			3,227
Derivative assets		771			818			940
Accrued income and other assets		2,871			2,978			2,946
Discontinued assets		5,381			5,533			6,033

Total assets	$	86,950		$	86,523		$	89,262

Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	30,573		$	28,957		$	27,548
Savings deposits		2,393			2,103			1,968
Certificates of deposit ($100,000 or more)		3,226			3,669			4,457
Other time deposits		4,941			5,385			6,695

Total interest-bearing deposits		41,133			40,114			40,668
Noninterest-bearing deposits		22,486			21,435			19,803
Deposits in foreign office — interest-bearing		569			618			561

Total deposits		64,188			62,167			61,032
Federal funds purchased and securities sold under repurchase agreements		1,746			1,716			1,728
Bank notes and other short-term borrowings		388			362			519
Derivative liabilities		657			763			1,141
Accrued expense and other liabilities		1,238			1,417			1,556
Long-term debt		6,119			7,521			10,717
Discontinued liabilities		2,335			2,401			2,651

Total liabilities		76,671			76,347			79,344

Equity
Preferred stock, Series A		291			291			291
Common shares		1,017			1,017			1,017
Capital surplus		4,118			4,120			4,191
Retained earnings		6,762			6,595			6,079
Treasury stock, at cost		(1,868	)		(1,796	)		(1,820	)
Accumulated other comprehensive income (loss)		(69	)		(72	)		143

Key shareholders’ equity		10,251			10,155			9,901
Noncontrolling interests		28			21			17

Total equity		10,279			10,176			9,918

Total liabilities and equity	$	86,950		$	86,523		$	89,262

Common shares outstanding (000)		936,195			945,473			952,808

Consolidated Statements of Income

(dollars in millions, except per share amounts)


	Three months ended								Nine months ended
	9-30-12			6-30-12		9-30-11			9-30-12			9-30-11
Interest income
Loans	$	538		$	518	$	543		$	1,592		$	1,664
Loans held for sale		5			5		3			15			10
Securities available for sale		93			105		140			314			455
Held-to-maturity securities		21			17		2			50			3
Trading account assets		4			5		5			15			21
Short-term investments		1			2		3			4			5
Other investments		9			10		9			27			33

Total interest income		671			662		705			2,017			2,191

Interest expense
Deposits		60			71		95			208			305
Federal funds purchased and securities sold under repurchase agreements		1			1		1			3			4
Bank notes and other short-term borrowings		1			2		3			5			9
Long-term debt		37			50		57			138			163

Total interest expense		99			124		156			354			481

Net interest income		572			538		549			1,663			1,710
Provision (credit) for loan and lease losses		109			21		10			172			(38	)

Net interest income (expense) after provision for loan and lease losses		463			517		539			1,491			1,748

Noninterest income
Trust and investment services income		106			102		107			317			330
Service charges on deposit accounts		74			70		74			212			211
Operating lease income		17			20		30			59			97
Letter of credit and loan fees		52			56		55			162			157
Corporate-owned life insurance income		26			30		31			86			86
Net securities gains (losses) ^(a)		—			—		—			—			1
Electronic banking fees		18			19		33			54			96
Gains on leased equipment		46			36		7			109			16
Insurance income		13			11		13			36			42
Net gains (losses) from loan sales		39			32		18			93			48
Net gains (losses) from principal investing		11			24		34			70			86
Investment banking and capital markets income (loss)		38			37		25			118			110
Other income		104			48		56			185			114

Total noninterest income		544			485		483			1,501			1,394

Noninterest expense
Personnel		411			389		382			1,185			1,133
Net occupancy		65			62		65			191			192
Operating lease expense		13			15		23			45			76
Computer processing		43			43		40			127			124
Business services and professional fees		49			51		47			138			129
FDIC assessment		7			8		7			23			45
OREO expense, net		1			7		1			14			8
Equipment		27			27		26			80			78
Marketing		18			17		16			48			36
Provision (credit) for losses on lending-related commitments		(8	)		6		(1	)		(2	)		(17	)
Intangible asset amortization on credit cards		6			—		—			6			—
Other intangible asset amortization		3			1		1			5			3
Other expense		99			88		85			291			266

Total noninterest expense		734			714		692			2,151			2,073

Income (loss) from continuing operations before income taxes		273			288		330			841			1,069
Income taxes		52			57		95			184			300

Income (loss) from continuing operations		221			231		235			657			769
Income (loss) from discontinued operations, net of taxes		—			10		(17	)		5			(37	)

Net income (loss)		221			241		218			662			732
Less: Net income (loss) attributable to noncontrolling interests		2			5		1			7			12

Net income (loss) attributable to Key	$	219		$	236	$	217		$	655		$	720

Income (loss) from continuing operations attributable to Key common shareholders	$	214		$	221	$	229		$	634		$	656
Net income (loss) attributable to Key common shareholders		214			231		212			639			619

Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.23		$	.23	$	.24		$	.67		$	.71
Income (loss) from discontinued operations, net of taxes		—			.01		(.02	)		.01			(.04	)
Net income (loss) attributable to Key common shareholders^(b)		.23			.24		.22			.68			.67

Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.23		$	.23	$	.24		$	.67		$	.71
Income (loss) from discontinued operations, net of taxes		—			.01		(.02	)		.01			(.04	)
Net income (loss) attributable to Key common shareholders^(b)		.23			.24		.22			.67			.67

Cash dividends declared per common share	$	.05		$	.05	$	.03		$	.13		$	.07

Weighted-average common shares outstanding (000)		936,223			944,648		948,702			943,378			926,298
Weighted-average common shares and potential common shares outstanding (000)^(c)		940,764			948,087		950,686			947,582			930,449

(a)	For the three months ended September 30, 2012, June 30, 2012, and September 30, 2011 Key did not have any impairment losses related to securities.

(b)	Earnings per share may not foot due to rounding.

(c)	Assumes conversion of stock options and/or Preferred Series A shares, as applicable.

KEYCORP /NEW/ - FORM 8-K - EX-99.3 - October 18, 2012

Attached files

KEYCORP /NEW/ Reports