Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - KEYCORP /NEW/ | d67043dex991.htm |
| 8-K - 8-K - KEYCORP /NEW/ | d67043d8k.htm |
| EX-99.2 - EX-99.2 - KEYCORP /NEW/ | d67043dex992.htm |
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
| 9-30-15 | 6-30-15 | 9-30-14 | ||||||||||
| Assets |
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| Loans |
$ | 60,085 | $ | 58,264 | $ | 56,155 | ||||||
| Loans held for sale |
916 | 835 | 784 | |||||||||
| Securities available for sale |
14,376 | 14,244 | 12,245 | |||||||||
| Held-to-maturity securities |
4,936 | 5,022 | 4,997 | |||||||||
| Trading account assets |
811 | 674 | 965 | |||||||||
| Short-term investments |
1,964 | 3,222 | 2,342 | |||||||||
| Other investments |
691 | 703 | 822 | |||||||||
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| Total earning assets |
83,779 | 82,964 | 78,310 | |||||||||
| Allowance for loan and lease losses |
(790 | ) | (796 | ) | (804 | ) | ||||||
| Cash and due from banks |
470 | 693 | 651 | |||||||||
| Premises and equipment |
771 | 788 | 832 | |||||||||
| Operating lease assets |
315 | 296 | 304 | |||||||||
| Goodwill |
1,060 | 1,057 | 1,051 | |||||||||
| Other intangible assets |
74 | 83 | 126 | |||||||||
| Corporate-owned life insurance |
3,516 | 3,502 | 3,456 | |||||||||
| Derivative assets |
793 | 536 | 413 | |||||||||
| Accrued income and other assets |
3,348 | 3,314 | 3,024 | |||||||||
| Discontinued assets |
2,086 | 2,169 | 2,421 | |||||||||
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| Total assets |
$ | 95,422 | $ | 94,606 | $ | 89,784 | ||||||
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| Liabilities |
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| Deposits in domestic offices: |
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| NOW and money market deposit accounts |
$ | 37,301 | $ | 36,024 | $ | 33,941 | ||||||
| Savings deposits |
2,338 | 2,370 | 2,390 | |||||||||
| Certificates of deposit ($100,000 or more) |
2,001 | 2,032 | 2,533 | |||||||||
| Other time deposits |
3,020 | 3,105 | 3,338 | |||||||||
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| Total interest-bearing deposits |
44,660 | 43,531 | 42,202 | |||||||||
| Noninterest-bearing deposits |
25,985 | 26,640 | 25,697 | |||||||||
| Deposits in foreign office — interest-bearing |
428 | 498 | 557 | |||||||||
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| Total deposits |
71,073 | 70,669 | 68,456 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements |
407 | 444 | 657 | |||||||||
| Bank notes and other short-term borrowings |
677 | 528 | 996 | |||||||||
| Derivative liabilities |
676 | 560 | 384 | |||||||||
| Accrued expense and other liabilities |
1,562 | 1,537 | 1,613 | |||||||||
| Long-term debt |
10,310 | 10,267 | 7,172 | |||||||||
| Discontinued liabilities |
— | — | 3 | |||||||||
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| Total liabilities |
84,705 | 84,005 | 79,281 | |||||||||
| Equity |
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| Preferred stock, Series A |
290 | 290 | 291 | |||||||||
| Common shares |
1,017 | 1,017 | 1,017 | |||||||||
| Capital surplus |
3,914 | 3,898 | 3,984 | |||||||||
| Retained earnings |
8,764 | 8,614 | 8,082 | |||||||||
| Treasury stock, at cost |
(3,008 | ) | (2,884 | ) | (2,563 | ) | ||||||
| Accumulated other comprehensive income (loss) |
(272 | ) | (345 | ) | (325 | ) | ||||||
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| Key shareholders’ equity |
10,705 | 10,590 | 10,486 | |||||||||
| Noncontrolling interests |
12 | 11 | 17 | |||||||||
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| Total equity |
10,717 | 10,601 | 10,503 | |||||||||
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| Total liabilities and equity |
$ | 95,422 | $ | 94,606 | $ | 89,784 | ||||||
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| Common shares outstanding (000) |
835,285 | 843,608 | 868,477 | |||||||||
Consolidated Statements of Income
(dollars in millions, except per share amounts)
| Three months ended | Nine months ended | |||||||||||||||||||
| 9-30-15 | 6-30-15 | 9-30-14 | 9-30-15 | 9-30-14 | ||||||||||||||||
| Interest income |
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| Loans |
$ | 542 | $ | 532 | $ | 531 | $ | 1,597 | $ | 1,576 | ||||||||||
| Loans held for sale |
10 | 12 | 4 | 29 | 13 | |||||||||||||||
| Securities available for sale |
75 | 72 | 67 | 217 | 210 | |||||||||||||||
| Held-to-maturity securities |
24 | 24 | 25 | 72 | 70 | |||||||||||||||
| Trading account assets |
5 | 5 | 6 | 15 | 19 | |||||||||||||||
| Short-term investments |
1 | 2 | 2 | 5 | 4 | |||||||||||||||
| Other investments |
4 | 5 | 4 | 14 | 16 | |||||||||||||||
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| Total interest income |
661 | 652 | 639 | 1,949 | 1,908 | |||||||||||||||
| Interest expense |
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| Deposits |
27 | 26 | 28 | 79 | 91 | |||||||||||||||
| Federal funds purchased and securities sold under repurchase agreements |
— | — | 1 | — | 2 | |||||||||||||||
| Bank notes and other short-term borrowings |
2 | 2 | 2 | 6 | 6 | |||||||||||||||
| Long-term debt |
41 | 40 | 33 | 118 | 98 | |||||||||||||||
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| Total interest expense |
70 | 68 | 64 | 203 | 197 | |||||||||||||||
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| Net interest income |
591 | 584 | 575 | 1,746 | 1,711 | |||||||||||||||
| Provision for credit losses |
45 | 41 | 19 | 121 | 35 | |||||||||||||||
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| Net interest income after provision for credit losses |
546 | 543 | 556 | 1,625 | 1,676 | |||||||||||||||
| Noninterest income |
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| Trust and investment services income |
108 | 111 | 99 | 328 | 291 | |||||||||||||||
| Investment banking and debt placement fees |
109 | 141 | 88 | 318 | 271 | |||||||||||||||
| Service charges on deposit accounts |
68 | 63 | 68 | 192 | 197 | |||||||||||||||
| Operating lease income and other leasing gains |
15 | 24 | 17 | 58 | 81 | |||||||||||||||
| Corporate services income |
57 | 43 | 42 | 143 | 125 | |||||||||||||||
| Cards and payments income |
47 | 47 | 42 | 136 | 123 | |||||||||||||||
| Corporate-owned life insurance income |
30 | 30 | 26 | 91 | 80 | |||||||||||||||
| Consumer mortgage income |
3 | 4 | 3 | 10 | 7 | |||||||||||||||
| Mortgage servicing fees |
11 | 9 | 9 | 33 | 35 | |||||||||||||||
| Net gains (losses) from principal investing |
11 | 11 | 9 | 51 | 60 | |||||||||||||||
| Other income (a) |
11 | 5 | 14 | 35 | 37 | |||||||||||||||
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| Total noninterest income |
470 | 488 | 417 | 1,395 | 1,307 | |||||||||||||||
| Noninterest expense |
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| Personnel |
426 | 408 | 405 | 1,223 | 1,182 | |||||||||||||||
| Net occupancy |
60 | 66 | 66 | 191 | 198 | |||||||||||||||
| Computer processing |
41 | 42 | 39 | 121 | 118 | |||||||||||||||
| Business services and professional fees |
40 | 42 | 36 | 115 | 118 | |||||||||||||||
| Equipment |
22 | 22 | 25 | 66 | 73 | |||||||||||||||
| Operating lease expense |
11 | 12 | 11 | 34 | 31 | |||||||||||||||
| Marketing |
17 | 15 | 15 | 40 | 33 | |||||||||||||||
| FDIC assessment |
8 | 8 | 9 | 24 | 21 | |||||||||||||||
| Intangible asset amortization |
9 | 9 | 10 | 27 | 29 | |||||||||||||||
| OREO expense, net |
2 | 1 | 1 | 5 | 3 | |||||||||||||||
| Other expense |
88 | 86 | 89 | 258 | 251 | |||||||||||||||
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| Total noninterest expense |
724 | 711 | 706 | 2,104 | 2,057 | |||||||||||||||
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| Income (loss) from continuing operations before income taxes |
292 | 320 | 267 | 916 | 926 | |||||||||||||||
| Income taxes |
72 | 84 | 64 | 230 | 232 | |||||||||||||||
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| Income (loss) from continuing operations |
220 | 236 | 203 | 686 | 694 | |||||||||||||||
| Income (loss) from discontinued operations, net of taxes |
(3 | ) | 3 | (17 | ) | 5 | (41 | ) | ||||||||||||
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| Net income (loss) |
217 | 239 | 186 | 691 | 653 | |||||||||||||||
| Less: Net income (loss) attributable to noncontrolling interests |
(2 | ) | 1 | — | 1 | 6 | ||||||||||||||
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| Net income (loss) attributable to Key |
$ | 219 | $ | 238 | $ | 186 | $ | 690 | $ | 647 | ||||||||||
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | 216 | $ | 230 | $ | 197 | $ | 668 | $ | 671 | ||||||||||
| Net income (loss) attributable to Key common shareholders |
213 | 233 | 180 | 673 | 630 | |||||||||||||||
| Per common share |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .26 | $ | .27 | $ | .23 | $ | .79 | $ | .77 | ||||||||||
| Income (loss) from discontinued operations, net of taxes |
— | — | (.02 | ) | .01 | (.05 | ) | |||||||||||||
| Net income (loss) attributable to Key common shareholders (b) |
.26 | .28 | .21 | .80 | .72 | |||||||||||||||
| Per common share — assuming dilution |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .26 | $ | .27 | $ | .23 | $ | .78 | $ | .76 | ||||||||||
| Income (loss) from discontinued operations, net of taxes |
— | — | (.02 | ) | .01 | (.05 | ) | |||||||||||||
| Net income (loss) attributable to Key common shareholders (b) |
.25 | .27 | .21 | .79 | .71 | |||||||||||||||
| Cash dividends declared per common share |
$ | .075 | $ | .075 | $ | .065 | $ | .215 | $ | .185 | ||||||||||
| Weighted-average common shares outstanding (000) |
831,430 | 839,454 | 867,350 | 839,758 | 875,728 | |||||||||||||||
| Weighted-average common shares and potential common shares outstanding (000) (c) |
838,880 | 846,312 | 874,122 | 847,371 | 882,451 | |||||||||||||||
| (a) | For each of the three months ended September 30, 2015, June 30, 2015, and September 30, 2014, net securities gains (losses) totaled less than $1 million. For the three months ended September 30, 2015, June 30, 2015, and September 30, 2014, Key did not have any impairment losses related to securities. |
| (b) | Earnings per share may not foot due to rounding. |
| (c) | Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable. |