Attached files
| file | filename |
|---|---|
| 8-K - 8-K - KEYCORP /NEW/ | d521997d8k.htm |
| EX-99.2 - EX-99.2 - KEYCORP /NEW/ | d521997dex992.htm |
| EX-99.1 - EX-99.1 - KEYCORP /NEW/ | d521997dex991.htm |
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
| 3-31-13 | 12-31-12 | 3-31-12 | ||||||||||
| Assets |
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| Loans |
$ | 52,574 | $ | 52,822 | $ | 49,226 | ||||||
| Loans held for sale |
434 | 599 | 511 | |||||||||
| Securities available for sale |
13,496 | 12,094 | 14,633 | |||||||||
| Held-to-maturity securities |
3,721 | 3,931 | 3,019 | |||||||||
| Trading account assets |
701 | 605 | 614 | |||||||||
| Short-term investments |
3,081 | 3,940 | 3,605 | |||||||||
| Other investments |
1,059 | 1,064 | 1,188 | |||||||||
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| Total earning assets |
75,066 | 75,055 | 72,796 | |||||||||
| Allowance for loan and lease losses |
(893 | ) | (888 | ) | (944 | ) | ||||||
| Cash and due from banks |
621 | 584 | 415 | |||||||||
| Premises and equipment |
930 | 965 | 937 | |||||||||
| Operating lease assets |
309 | 288 | 335 | |||||||||
| Goodwill |
979 | 979 | 917 | |||||||||
| Other intangible assets |
159 | 171 | 15 | |||||||||
| Corporate-owned life insurance |
3,352 | 3,333 | 3,270 | |||||||||
| Derivative assets |
609 | 693 | 830 | |||||||||
| Accrued income and other assets |
2,884 | 2,774 | 3,070 | |||||||||
| Discontinued assets |
5,182 | 5,282 | 5,790 | |||||||||
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| Total assets |
$ | 89,198 | $ | 89,236 | $ | 87,431 | ||||||
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| Liabilities |
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| Deposits in domestic offices: |
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| NOW and money market deposit accounts |
$ | 32,700 | $ | 32,380 | $ | 29,124 | ||||||
| Savings deposits |
2,546 | 2,433 | 2,075 | |||||||||
| Certificates of deposit ($100,000 or more) |
2,998 | 2,879 | 3,984 | |||||||||
| Other time deposits |
4,324 | 4,575 | 5,848 | |||||||||
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| Total interest-bearing deposits |
42,568 | 42,267 | 41,031 | |||||||||
| Noninterest-bearing deposits |
21,564 | 23,319 | 19,606 | |||||||||
| Deposits in foreign office — interest-bearing |
522 | 407 | 857 | |||||||||
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| Total deposits |
64,654 | 65,993 | 61,494 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements |
1,950 | 1,609 | 1,846 | |||||||||
| Bank notes and other short-term borrowings |
378 | 287 | 324 | |||||||||
| Derivative liabilities |
524 | 584 | 754 | |||||||||
| Accrued expense and other liabilities |
1,352 | 1,387 | 1,424 | |||||||||
| Long-term debt |
7,785 | 6,847 | 8,898 | |||||||||
| Discontinued liabilities |
2,176 | 2,220 | 2,575 | |||||||||
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| Total liabilities |
78,819 | 78,927 | 77,315 | |||||||||
| Equity |
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| Preferred stock, Series A |
291 | 291 | 291 | |||||||||
| Common shares |
1,017 | 1,017 | 1,017 | |||||||||
| Capital surplus |
4,059 | 4,126 | 4,116 | |||||||||
| Retained earnings |
7,065 | 6,913 | 6,411 | |||||||||
| Treasury stock, at cost |
(1,930 | ) | (1,952 | ) | (1,717 | ) | ||||||
| Accumulated other comprehensive income (loss) |
(162 | ) | (124 | ) | (19 | ) | ||||||
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| Key shareholders’ equity |
10,340 | 10,271 | 10,099 | |||||||||
| Noncontrolling interests |
39 | 38 | 17 | |||||||||
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| Total equity |
10,379 | 10,309 | 10,116 | |||||||||
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| Total liabilities and equity |
$ | 89,198 | $ | 89,236 | $ | 87,431 | ||||||
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| Common shares outstanding (000) |
922,581 | 925,769 | 956,102 | |||||||||
Consolidated Statements of Income
(dollars in millions, except per share amounts)
| Three months ended | ||||||||||||
| 3-31-13 | 12-31-12 | 3-31-12 | ||||||||||
| Interest income |
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| Loans |
$ | 548 | $ | 563 | $ | 536 | ||||||
| Loans held for sale |
4 | 5 | 5 | |||||||||
| Securities available for sale |
80 | 85 | 116 | |||||||||
| Held-to-maturity securities |
18 | 19 | 12 | |||||||||
| Trading account assets |
6 | 3 | 6 | |||||||||
| Short-term investments |
2 | 2 | 1 | |||||||||
| Other investments |
9 | 11 | 8 | |||||||||
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| Total interest income |
667 | 688 | 684 | |||||||||
| Interest expense |
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| Deposits |
45 | 49 | 77 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements |
1 | 1 | 1 | |||||||||
| Bank notes and other short-term borrowings |
1 | 2 | 2 | |||||||||
| Long-term debt |
37 | 35 | 51 | |||||||||
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| Total interest expense |
84 | 87 | 131 | |||||||||
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| Net interest income |
583 | 601 | 553 | |||||||||
| Provision (credit) for loan and lease losses |
55 | 57 | 42 | |||||||||
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| Net interest income (expense) after provision for loan and lease losses |
528 | 544 | 511 | |||||||||
| Noninterest income (a) |
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| Trust and investment services income |
95 | 95 | 96 | |||||||||
| Investment banking and debt placement fees |
79 | 110 | 61 | |||||||||
| Service charges on deposit accounts |
69 | 75 | 68 | |||||||||
| Operating lease income and other leasing gains |
23 | 19 | 52 | |||||||||
| Corporate services income |
45 | 41 | 44 | |||||||||
| Cards and payments income |
37 | 38 | 29 | |||||||||
| Corporate-owned life insurance income |
30 | 36 | 30 | |||||||||
| Consumer mortgage income |
7 | 11 | 9 | |||||||||
| Net gains (losses) from principal investing |
8 | 2 | 35 | |||||||||
| Other income (b) |
32 | 12 | 18 | |||||||||
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| Total noninterest income |
425 | 439 | 442 | |||||||||
| Noninterest expense |
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| Personnel |
391 | 422 | 372 | |||||||||
| Net occupancy |
64 | 69 | 64 | |||||||||
| Computer processing |
39 | 38 | 41 | |||||||||
| Business services and professional fees |
35 | 54 | 37 | |||||||||
| Equipment |
26 | 27 | 26 | |||||||||
| Operating lease expense |
12 | 12 | 17 | |||||||||
| Marketing |
6 | 20 | 13 | |||||||||
| FDIC assessment |
8 | 8 | 8 | |||||||||
| Intangible asset amortization on credit cards |
8 | 8 | — | |||||||||
| Other intangible asset amortization |
4 | 4 | 1 | |||||||||
| Provision (credit) for losses on lending-related commitments |
3 | (14 | ) | — | ||||||||
| OREO expense, net |
3 | 1 | 6 | |||||||||
| Other expense |
82 | 85 | 94 | |||||||||
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| Total noninterest expense |
681 | 734 | 679 | |||||||||
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| Income (loss) from continuing operations before income taxes |
272 | 249 | 274 | |||||||||
| Income taxes |
70 | 53 | 73 | |||||||||
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| Income (loss) from continuing operations |
202 | 196 | 201 | |||||||||
| Income (loss) from discontinued operations, net of taxes |
3 | 7 | (1 | ) | ||||||||
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| Net income (loss) |
205 | 203 | 200 | |||||||||
| Less: Net income (loss) attributable to noncontrolling interests |
1 | — | — | |||||||||
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| Net income (loss) attributable to Key |
$ | 204 | $ | 203 | $ | 200 | ||||||
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | 196 | $ | 190 | $ | 195 | ||||||
| Net income (loss) attributable to Key common shareholders |
199 | 197 | 194 | |||||||||
| 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 | — | |||||||||
| Net income (loss) attributable to Key common shareholders (c) |
.22 | .21 | .20 | |||||||||
| Per common share — assuming dilution |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .21 | $ | .20 | $ | .20 | ||||||
| Income (loss) from discontinued operations, net of taxes |
— | .01 | — | |||||||||
| Net income (loss) attributable to Key common shareholders (c) |
.21 | .21 | .20 | |||||||||
| Cash dividends declared per common share |
$ | .05 | $ | .05 | $ | .03 | ||||||
| Weighted-average common shares outstanding (000) |
920,316 | 925,725 | 949,342 | |||||||||
| Weighted-average common shares and potential common shares outstanding (000) (d) |
926,051 | 930,382 | 953,971 | |||||||||
| (a) | The noninterest income lines have been changed for the current quarter and all prior quarters to reflect Key’s current business mix. |
| (b) | For the three months ended March 31, 2013, December 31, 2012, and March 31, 2012, Key did not have any impairment losses related to securities. |
| (c) | Earnings per share may not foot due to rounding. |
| (d) | Assumes conversion of stock options and/or Preferred Series A shares, as applicable. |