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

Attached files

file	filename
8-K - FORM 8-K - KEYCORP /NEW/	d471601d8k.htm
EX-99.2 - EX-99.2 - KEYCORP /NEW/	d471601dex992.htm
EX-99.1 - EX-99.1 - KEYCORP /NEW/	d471601dex991.htm

Exhibit 99.3

Consolidated Balance Sheets

(dollars in millions)


	12-31-12			9-30-12			12-31-11
Assets
Loans	$	52,822		$	51,419		$	49,575
Loans held for sale		599			628			728
Securities available for sale		12,094			11,962			16,012
Held-to-maturity securities		3,931			4,153			2,109
Trading account assets		605			663			623
Short-term investments		3,940			2,208			3,519
Other investments		1,064			1,106			1,163

Total earning assets		75,055			72,139			73,729
Allowance for loan and lease losses		(888	)		(888	)		(1,004	)
Cash and due from banks		585			974			694
Premises and equipment		965			942			944
Operating lease assets		288			290			350
Goodwill		979			979			917
Other intangible assets		171			182			17
Corporate-owned life insurance		3,333			3,309			3,256
Derivative assets		693			771			945
Accrued income and other assets		2,801			2,871			3,077
Discontinued assets		5,254			5,381			5,860

Total assets	$	89,236		$	86,950		$	88,785

Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	32,380		$	30,573		$	27,954
Savings deposits		2,433			2,393			1,962
Certificates of deposit ($100,000 or more)		2,879			3,226			4,111
Other time deposits		4,575			4,941			6,243

Total interest-bearing deposits		42,267			41,133			40,270
Noninterest-bearing deposits		23,319			22,486			21,098
Deposits in foreign office — interest-bearing		407			569			588

Total deposits		65,993			64,188			61,956
Federal funds purchased and securities sold under repurchase agreements		1,609			1,746			1,711
Bank notes and other short-term borrowings		287			388			337
Derivative liabilities		584			657			1,026
Accrued expense and other liabilities		1,425			1,238			1,763
Long-term debt		6,847			6,119			9,520
Discontinued liabilities		2,182			2,335			2,550

Total liabilities		78,927			76,671			78,863
Equity
Preferred stock, Series A		291			291			291
Common shares		1,017			1,017			1,017
Capital surplus		4,126			4,118			4,194
Retained earnings		6,913			6,762			6,246
Treasury stock, at cost		(1,952	)		(1,868	)		(1,815	)
Accumulated other comprehensive income (loss)		(124	)		(69	)		(28	)

Key shareholders’ equity		10,271			10,251			9,905
Noncontrolling interests		38			28			17

Total equity		10,309			10,279			9,922

Total liabilities and equity	$	89,236		$	86,950		$	88,785

Common shares outstanding (000)		925,769			936,195			953,008

Consolidated Statements of Income

(dollars in millions, except per share amounts)


	Three months ended									Twelve months ended
	12-31-12			9-30-12			12-31-11			12-31-12			12-31-11
Interest income
Loans	$	563		$	538		$	542		$	2,155		$	2,206
Loans held for sale		5			5			4			20			14
Securities available for sale		85			93			128			399			583
Held-to-maturity securities		19			21			9			69			12
Trading account assets		3			4			5			18			26
Short-term investments		2			1			1			6			6
Other investments		11			9			9			38			42

Total interest income		688			671			698			2,705			2,889
Interest expense
Deposits		49			60			85			257			390
Federal funds purchased and securities sold under repurchase agreements		1			1			1			4			5
Bank notes and other short-term borrowings		2			1			2			7			11
Long-term debt		35			37			53			173			216

Total interest expense		87			99			141			441			622

Net interest income		601			572			557			2,264			2,267
Provision (credit) for loan and lease losses		57			109			(22	)		229			(60	)

Net interest income (expense) after provision for loan and lease losses		544			463			579			2,035			2,327
Noninterest income
Trust and investment services income		104			106			104			421			434
Service charges on deposit accounts		75			74			70			287			281
Operating lease income		16			17			25			75			122
Letter of credit and loan fees		59			52			56			221			213
Corporate-owned life insurance income		36			26			35			122			121
Net securities gains (losses) ^(a)		—			—			—			—			1
Electronic banking fees		18			18			18			72			114
Gains on leased equipment		2			46			9			111			25
Insurance income		14			13			11			50			53
Net gains (losses) from loan sales		57			39			27			150			75
Net gains (losses) from principal investing		2			11			(8	)		72			78
Investment banking and capital markets income (loss)		47			38			24			165			134
Other income		36			104			43			221			157

Total noninterest income		466			544			414			1,967			1,808
Noninterest expense
Personnel		433			411			387			1,618			1,520
Net occupancy		69			65			66			260			258
Operating lease expense		12			13			18			57			94
Computer processing		39			43			42			166			166
Business services and professional fees		55			49			57			193			186
FDIC assessment		8			7			7			31			52
OREO expense, net		1			1			5			15			13
Equipment		27			27			25			107			103
Marketing		20			18			24			68			60
Provision (credit) for losses on lending-related commitments		(14	)		(8	)		(11	)		(16	)		(28	)
Intangible asset amortization on credit cards		8			6			—			14			—
Other intangible asset amortization		4			3			1			9			4
Other expense		94			99			96			385			362

Total noninterest expense		756			734			717			2,907			2,790

Income (loss) from continuing operations before income taxes		254			273			276			1,095			1,345
Income taxes		55			52			69			239			369

Income (loss) from continuing operations		199			221			207			856			976
Income (loss) from discontinued operations, net of taxes		4			—			(7	)		9			(44	)

Net income (loss)		203			221			200			865			932
Less: Net income (loss) attributable to noncontrolling interests		—			2			—			7			12

Net income (loss) attributable to Key	$	203		$	219		$	200		$	858		$	920

Income (loss) from continuing operations attributable to Key common shareholders	$	193		$	214		$	201		$	827		$	857
Net income (loss) attributable to Key common shareholders		197			214			194			836			813
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.21		$	.23		$	.21		$	.88		$	.92
Income (loss) from discontinued operations, net of taxes		—			—			(.01	)		.01			(.05	)
Net income (loss) attributable to Key common shareholders^(b)		.21			.23			.20			.89			.87
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.21		$	.23		$	.21		$	.88		$	.92
Income (loss) from discontinued operations, net of taxes		—			—			(.01	)		.01			(.05	)
Net income (loss) attributable to Key common shareholders^(b)		.21			.23			.20			.89			.87
Cash dividends declared per common share	$	.05		$	.05		$	.03		$	.18		$	.10
Weighted-average common shares outstanding (000)		925,725			936,223			948,658			938,941			931,934
Weighted-average common shares and potential common shares outstanding (000)^(c)		930,382			940,764			951,684			943,259			935,801

(a)	For the three months ended December 31, 2012, September 30, 2012, and December 31, 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 - January 24, 2013

Attached files

KEYCORP /NEW/ Reports