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

Attached files

file	filename
8-K - FORM 8-K - KEYCORP /NEW/	d569320d8k.htm
EX-99.1 - EX-99.1 - KEYCORP /NEW/	d569320dex991.htm
EX-99.2 - EX-99.2 - KEYCORP /NEW/	d569320dex992.htm

Exhibit 99.3

Consolidated Balance Sheets

(dollars in millions)


	6-30-13			3-31-13			6-30-12
Assets
Loans	$	53,101		$	52,574		$	49,605
Loans held for sale		402			434			656
Securities available for sale		13,253			13,496			13,205
Held-to-maturity securities		4,750			3,721			4,352
Trading account assets		592			701			679
Short-term investments		3,582			3,081			2,216
Other investments		1,037			1,059			1,186

Total earning assets		76,717			75,066			71,899
Allowance for loan and lease losses		(876	)		(893	)		(888	)
Cash and due from banks		696			621			716
Premises and equipment		900			930			931
Operating lease assets		303			309			318
Goodwill		979			979			917
Other intangible assets		149			159			15
Corporate-owned life insurance		3,362			3,352			3,285
Derivative assets		461			609			818
Accrued income and other assets		2,864			2,884			2,967
Discontinued assets		5,084			5,182			5,545

Total assets	$	90,639		$	89,198		$	86,523

Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	32,689		$	32,700		$	28,957
Savings deposits		2,542			2,546			2,103
Certificates of deposit ($100,000 or more)		2,918			2,998			3,669
Other time deposits		4,089			4,324			5,385

Total interest-bearing deposits		42,238			42,568			40,114
Noninterest-bearing deposits		24,939			21,564			21,435
Deposits in foreign office — interest-bearing		544			522			618

Total deposits		67,721			64,654			62,167
Federal funds purchased and securities sold under repurchase agreements		1,647			1,950			1,716
Bank notes and other short-term borrowings		298			378			362
Derivative liabilities		456			524			763
Accrued expense and other liabilities		1,421			1,352			1,390
Long-term debt		6,666			7,785			7,521
Discontinued liabilities		2,169			2,176			2,428

Total liabilities		80,378			78,819			76,347
Equity
Preferred stock, Series A		291			291			291
Common shares		1,017			1,017			1,017
Capital surplus		4,045			4,059			4,120
Retained earnings		7,214			7,065			6,595
Treasury stock, at cost		(2,020	)		(1,930	)		(1,796	)
Accumulated other comprehensive income (loss)		(318	)		(162	)		(72	)

Key shareholders’ equity		10,229			10,340			10,155
Noncontrolling interests		32			39			21

Total equity		10,261			10,379			10,176

Total liabilities and equity	$	90,639		$	89,198		$	86,523

Common shares outstanding (000)		912,883			922,581			945,473

Consolidated Statements of Income

(dollars in millions, except per share amounts)


	Three months ended						Six months ended
	6-30-13		3-31-13		6-30-12		6-30-13		6-30-12
Interest income
Loans	$	539	$	548	$	518	$	1,087	$	1,054
Loans held for sale		5		4		5		9		10
Securities available for sale		80		80		105		160		221
Held-to-maturity securities		20		18		17		38		29
Trading account assets		4		6		5		10		11
Short-term investments		1		2		2		3		3
Other investments		8		9		10		17		18

Total interest income		657		667		662		1,324		1,346
Interest expense
Deposits		42		45		71		87		148
Federal funds purchased and securities sold under repurchase agreements		—		1		1		1		2
Bank notes and other short-term borrowings		2		1		2		3		4
Long-term debt		32		37		50		69		101

Total interest expense		76		84		124		160		255

Net interest income		581		583		538		1,164		1,091
Provision (credit) for loan and lease losses		28		55		21		83		63

Net interest income (expense) after provision for loan and lease losses		553		528		517		1,081		1,028
Noninterest income
Trust and investment services income		100		95		90		195		186
Investment banking and debt placement fees		84		79		73		163		134
Service charges on deposit accounts		71		69		70		140		138
Operating lease income and other leasing gains		19		23		58		42		110
Corporate services income		43		45		44		88		88
Cards and payments income		42		37		31		79		60
Corporate-owned life insurance income		31		30		30		61		60
Consumer mortgage income		6		7		9		13		18
Net gains (losses) from principal investing		7		8		24		15		59
Other income^(a)		26		32		28		58		46

Total noninterest income		429		425		457		854		899
Noninterest expense
Personnel		406		391		377		797		749
Net occupancy		72		64		62		136		126
Computer processing		39		39		43		78		84
Business services and professional fees		37		35		51		72		88
Equipment		27		26		27		53		53
Operating lease expense		11		12		15		23		32
Marketing		11		6		17		17		30
FDIC assessment		8		8		8		16		16
Intangible asset amortization on credit cards		7		8		—		15		—
Other intangible asset amortization		3		4		1		7		2
Provision (credit) for losses on lending-related commitments		5		3		6		8		6
OREO expense, net		1		3		7		4		13
Other expense		84		82		79		166		173

Total noninterest expense		711		681		693		1,392		1,372

Income (loss) from continuing operations before income taxes		271		272		281		543		555
Income taxes		72		70		54		142		127

Income (loss) from continuing operations		199		202		227		401		428
Income (loss) from discontinued operations, net of taxes		5		3		14		8		13

Net income (loss)		204		205		241		409		441
Less: Net income (loss) attributable to noncontrolling interests		—		1		5		1		5

Net income (loss) attributable to Key	$	204	$	204	$	236	$	408	$	436

Income (loss) from continuing operations attributable to Key common shareholders	$	193	$	196	$	217	$	389	$	412
Net income (loss) attributable to Key common shareholders		198		199		231		397		425
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.21	$	.21	$	.23	$	.42	$	.44
Income (loss) from discontinued operations, net of taxes		.01		—		.01		.01		.01
Net income (loss) attributable to Key common shareholders^(b)		.22		.22		.24		.43		.45
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.21	$	.21	$	.23	$	.42	$	.43
Income (loss) from discontinued operations, net of taxes		.01		—		.01		.01		.01
Net income (loss) attributable to Key common shareholders^(b)		.22		.21		.24		.43		.45
Cash dividends declared per common share	$	.055	$	.05	$	.05	$	.105	$	.08
Weighted-average common shares outstanding (000)		913,736		920,316		944,648		917,008		946,995
Weighted-average common shares and potential common shares outstanding (000)^(c)		918,628		926,051		948,087		922,319		951,029

(a)	For the three months ended June 30 ,2013, March 31, 2013, and June 30, 2012, 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 - July 18, 2013

Attached files

KEYCORP /NEW/ Reports