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

Attached files

file	filename
8-K - FORM 8-K - KEYCORP /NEW/	d611847d8k.htm
EX-99.1 - EX-99.1 - KEYCORP /NEW/	d611847dex991.htm
EX-99.2 - EX-99.2 - KEYCORP /NEW/	d611847dex992.htm

Exhibit 99.3

Consolidated Balance Sheets

(dollars in millions)


	9-30-13			6-30-13			9-30-12
Assets
Loans	$	53,597		$	53,101		$	51,419
Loans held for sale		699			402			628
Securities available for sale		12,606			13,253			11,962
Held-to-maturity securities		4,835			4,750			4,153
Trading account assets		806			592			663
Short-term investments		3,535			3,582			2,208
Other investments		1,007			1,037			1,106

Total earning assets		77,085			76,717			72,139
Allowance for loan and lease losses		(868	)		(876	)		(888	)
Cash and due from banks		748			696			973
Premises and equipment		890			900			942
Operating lease assets		293			303			290
Goodwill		979			979			979
Other intangible assets		137			149			182
Corporate-owned life insurance		3,384			3,362			3,309
Derivative assets		475			461			771
Accrued income and other assets		2,747			2,864			2,853
Discontinued assets		4,838			5,084			5,400

Total assets	$	90,708		$	90,639		$	86,950

Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	33,132		$	32,689		$	30,573
Savings deposits		2,489			2,542			2,393
Certificates of deposit ($100,000 or more)		2,698			2,918			3,226
Other time deposits		3,833			4,089			4,941

Total interest-bearing deposits		42,152			42,238			41,133
Noninterest-bearing deposits		25,778			24,939			22,486
Deposits in foreign office — interest-bearing		605			544			569

Total deposits		68,535			67,721			64,188
Federal funds purchased and securities sold under repurchase agreements		1,455			1,647			1,746
Bank notes and other short-term borrowings		466			298			388
Derivative liabilities		450			456			657
Accrued expense and other liabilities		1,375			1,421			1,205
Long-term debt		6,154			6,666			6,119
Discontinued liabilities		2,037			2,169			2,368

Total liabilities		80,472			80,378			76,671
Equity
Preferred stock, Series A		291			291			291
Common shares		1,017			1,017			1,017
Capital surplus		4,029			4,045			4,118
Retained earnings		7,431			7,214			6,762
Treasury stock, at cost		(2,193	)		(2,020	)		(1,868	)
Accumulated other comprehensive income (loss)		(369	)		(318	)		(69	)

Key shareholders’ equity		10,206			10,229			10,251
Noncontrolling interests		30			32			28

Total equity		10,236			10,261			10,279

Total liabilities and equity	$	90,708		$	90,639		$	86,950

Common shares outstanding (000)		897,821			912,883			936,195

Consolidated Statements of Income

(dollars in millions, except per share amounts)


	Three months ended								Nine months ended
	9-30-13			6-30-13		9-30-12			9-30-13		9-30-12
Interest income
Loans	$	532		$	539	$	538		$	1,619	$	1,592
Loans held for sale		5			5		5			14		15
Securities available for sale		76			80		93			236		314
Held-to-maturity securities		22			20		21			60		50
Trading account assets		5			4		4			15		15
Short-term investments		1			1		1			4		4
Other investments		6			8		9			23		27

Total interest income		647			657		671			1,971		2,017
Interest expense
Deposits		37			42		60			124		208
Federal funds purchased and securities sold under repurchase agreements		1			—		1			2		3
Bank notes and other short-term borrowings		2			2		1			5		5
Long-term debt		29			32		37			98		138

Total interest expense		69			76		99			229		354

Net interest income		578			581		572			1,742		1,663
Provision (credit) for loan and lease losses		28			28		109			111		172

Net interest income (expense) after provision for loan and lease losses		550			553		463			1,631		1,491
Noninterest income
Trust and investment services income		100			100		94			295		280
Investment banking and debt placement fees		86			84		83			249		217
Service charges on deposit accounts		73			71		74			213		212
Operating lease income and other leasing gains		43			19		66			85		176
Corporate services income		44			43		39			132		127
Cards and payments income		43			42		37			122		97
Corporate-owned life insurance income		26			31		26			87		86
Consumer mortgage income		3			6		11			16		29
Net gains (losses) from principal investing		17			7		11			32		70
Other income ^(a)		24			26		77			82		123

Total noninterest income		459			429		518			1,313		1,417
Noninterest expense
Personnel		414			406		399			1,211		1,148
Net occupancy		66			72		65			202		191
Computer processing		38			39		42			116		126
Business services and professional fees		37			37		48			109		136
Equipment		25			27		27			78		80
Operating lease expense		14			11		13			37		45
Marketing		16			11		18			33		48
FDIC assessment		7			8		7			23		23
Intangible asset amortization on credit cards		8			7		6			23		6
Other intangible asset amortization		4			3		3			11		5
Provision (credit) for losses on lending-related commitments		3			5		(8	)		11		(2	)
OREO expense, net		1			1		1			5		14
Other expense		83			84		91			249		264

Total noninterest expense		716			711		712			2,108		2,084

Income (loss) from continuing operations before income taxes		293			271		269			836		824
Income taxes		59			72		51			201		178

Income (loss) from continuing operations		234			199		218			635		646
Income (loss) from discontinued operations, net of taxes		37			5		3			45		16

Net income (loss)		271			204		221			680		662
Less: Net income (loss) attributable to noncontrolling interests		(1	)		—		2			—		7

Net income (loss) attributable to Key	$	272		$	204	$	219		$	680	$	655

Income (loss) from continuing operations attributable to Key common shareholders	$	229		$	193	$	211		$	618	$	623
Net income (loss) attributable to Key common shareholders		266			198		214			663		639
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.25		$	.21	$	.23		$	.68	$	.66
Income (loss) from discontinued operations, net of taxes		.04			.01		—			.05		.02
Net income (loss) attributable to Key common shareholders ^(b)		.29			.22		.23			.73		.68
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.25		$	.21	$	.22		$	.67	$	.66
Income (loss) from discontinued operations, net of taxes		.04			.01		—			.05		.02
Net income (loss) attributable to Key common shareholders ^(b)		.29			.22		.23			.72		.67
Cash dividends declared per common share	$	.055		$	.055	$	.05		$	.16	$	.13
Weighted-average common shares outstanding (000)		901,904			913,736		936,223			911,918		943,378
Weighted-average common shares and potential common shares outstanding (000) ^(c)		928,854			918,628		940,764			917,579		947,582

(a)	For the three months ended September 30, 2013, June 30 ,2013, and September 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 - October 16, 2013

Attached files

KEYCORP /NEW/ Reports