Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 - KEYCORP /NEW/ | key2q20confcallslidesvf.htm |
| EX-99.1 - EXHIBIT 99.1 - KEYCORP /NEW/ | a2q20earningsrelease.htm |
| 8-K - 8-K - KEYCORP /NEW/ | a2q20er8-k.htm |
Exhibit 99.3
Consolidated Balance Sheets | |||||||||||
(dollars in millions) | |||||||||||
6/30/2020 | 3/31/2020 | 6/30/2019 | |||||||||
Assets | |||||||||||
Loans | $ | 106,159 | $ | 103,198 | $ | 91,937 | |||||
Loans held for sale | 2,007 | 2,143 | 1,790 | ||||||||
Securities available for sale | 23,600 | 20,807 | 21,528 | ||||||||
Held-to-maturity securities | 9,075 | 9,638 | 10,878 | ||||||||
Trading account assets | 645 | 795 | 1,005 | ||||||||
Short-term investments | 14,036 | 4,073 | 2,443 | ||||||||
Other investments | 655 | 679 | 632 | ||||||||
Total earning assets | 156,177 | 141,333 | 130,213 | ||||||||
Allowance for loan and lease losses | (1,708 | ) | (1,359 | ) | (890 | ) | |||||
Cash and due from banks | 1,059 | 865 | 607 | ||||||||
Premises and equipment | 776 | 791 | 829 | ||||||||
Goodwill | 2,664 | 2,664 | 2,664 | ||||||||
Other intangible assets | 218 | 236 | 298 | ||||||||
Corporate-owned life insurance | 4,251 | 4,243 | 4,201 | ||||||||
Accrued income and other assets | 6,976 | 6,604 | 5,633 | ||||||||
Discontinued assets | 779 | 820 | 990 | ||||||||
Total assets | $ | 171,192 | $ | 156,197 | $ | 144,545 | |||||
Liabilities | |||||||||||
Deposits in domestic offices: | |||||||||||
NOW and money market deposit accounts | $ | 78,853 | $ | 71,005 | $ | 63,619 | |||||
Savings deposits | 5,371 | 4,753 | 4,747 | ||||||||
Certificates of deposit ($100,000 or more) | 4,476 | 5,630 | 8,084 | ||||||||
Other time deposits | 4,011 | 4,623 | 5,524 | ||||||||
Total interest-bearing deposits | 92,711 | 86,011 | 81,974 | ||||||||
Noninterest-bearing deposits | 42,802 | 29,293 | 27,972 | ||||||||
Total deposits | 135,513 | 115,304 | 109,946 | ||||||||
Federal funds purchased and securities sold under repurchase agreements | 267 | 2,444 | 161 | ||||||||
Bank notes and other short-term borrowings | 1,716 | 4,606 | 720 | ||||||||
Accrued expense and other liabilities | 2,420 | 2,700 | 2,435 | ||||||||
Long-term debt | 13,734 | 13,732 | 14,312 | ||||||||
Total liabilities | 153,650 | 138,786 | 127,574 | ||||||||
Equity | |||||||||||
Preferred stock | 1,900 | 1,900 | 1,900 | ||||||||
Common shares | 1,257 | 1,257 | 1,257 | ||||||||
Capital surplus | 6,240 | 6,222 | 6,266 | ||||||||
Retained earnings | 12,154 | 12,174 | 12,005 | ||||||||
Treasury stock, at cost | (4,945 | ) | (4,956 | ) | (4,457 | ) | |||||
Accumulated other comprehensive income (loss) | 936 | 814 | (2 | ) | |||||||
Key shareholders’ equity | 17,542 | 17,411 | 16,969 | ||||||||
Noncontrolling interests | — | — | 2 | ||||||||
Total equity | 17,542 | 17,411 | 16,971 | ||||||||
Total liabilities and equity | $ | 171,192 | $ | 156,197 | $ | 144,545 | |||||
Common shares outstanding (000) | 975,947 | 975,319 | 1,003,114 | ||||||||
Consolidated Statements of Income | ||||||||||||||||||
(dollars in millions, except per share amounts) | ||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||
6/30/2020 | 3/31/2020 | 6/30/2019 | 6/30/2020 | 6/30/2019 | ||||||||||||||
Interest income | ||||||||||||||||||
Loans | $ | 980 | $ | 1,026 | $ | 1,082 | $ | 2,006 | $ | 2,148 | ||||||||
Loans held for sale | 21 | 19 | 15 | 40 | 28 | |||||||||||||
Securities available for sale | 121 | 129 | 135 | 250 | 264 | |||||||||||||
Held-to-maturity securities | 56 | 62 | 67 | 118 | 135 | |||||||||||||
Trading account assets | 5 | 8 | 9 | 13 | 17 | |||||||||||||
Short-term investments | 7 | 6 | 17 | 13 | 33 | |||||||||||||
Other investments | — | 1 | 4 | 1 | 8 | |||||||||||||
Total interest income | 1,190 | 1,251 | 1,329 | 2,441 | 2,633 | |||||||||||||
Interest expense | ||||||||||||||||||
Deposits | 96 | 169 | 223 | 265 | 425 | |||||||||||||
Federal funds purchased and securities sold under repurchase agreements | — | 6 | — | 6 | 1 | |||||||||||||
Bank notes and other short-term borrowings | 5 | 5 | 5 | 10 | 9 | |||||||||||||
Long-term debt | 71 | 90 | 120 | 161 | 240 | |||||||||||||
Total interest expense | 172 | 270 | 348 | 442 | 675 | |||||||||||||
Net interest income | 1,018 | 981 | 981 | 1,999 | 1,958 | |||||||||||||
Provision for credit losses | 482 | 359 | 74 | 841 | 136 | |||||||||||||
Net interest income after provision for credit losses | 536 | 622 | 907 | 1,158 | 1,822 | |||||||||||||
Noninterest income | ||||||||||||||||||
Trust and investment services income | 123 | 133 | 122 | 256 | 237 | |||||||||||||
Investment banking and debt placement fees | 156 | 116 | 163 | 272 | 273 | |||||||||||||
Service charges on deposit accounts | 68 | 84 | 83 | 152 | 165 | |||||||||||||
Operating lease income and other leasing gains | 60 | 30 | 44 | 90 | 81 | |||||||||||||
Corporate services income | 52 | 62 | 53 | 114 | 108 | |||||||||||||
Cards and payments income | 91 | 66 | 73 | 157 | 139 | |||||||||||||
Corporate-owned life insurance income | 35 | 36 | 33 | 71 | 65 | |||||||||||||
Consumer mortgage income | 62 | 20 | 15 | 82 | 26 | |||||||||||||
Commercial mortgage servicing fees | 12 | 18 | 19 | 30 | 37 | |||||||||||||
Other income | 33 | (88 | ) | 17 | (55 | ) | 27 | |||||||||||
Total noninterest income | 692 | 477 | 622 | 1,169 | 1,158 | |||||||||||||
Noninterest expense | ||||||||||||||||||
Personnel | 572 | 515 | 589 | 1,087 | 1,152 | |||||||||||||
Net occupancy | 71 | 76 | 73 | 147 | 145 | |||||||||||||
Computer processing | 56 | 55 | 56 | 111 | 110 | |||||||||||||
Business services and professional fees | 49 | 44 | 45 | 93 | 89 | |||||||||||||
Equipment | 25 | 24 | 24 | 49 | 48 | |||||||||||||
Operating lease expense | 34 | 36 | 32 | 70 | 58 | |||||||||||||
Marketing | 24 | 21 | 24 | 45 | 43 | |||||||||||||
FDIC assessment | 8 | 9 | 9 | 17 | 16 | |||||||||||||
Intangible asset amortization | 18 | 17 | 22 | 35 | 44 | |||||||||||||
OREO expense, net | 6 | 3 | 4 | 9 | 7 | |||||||||||||
Other expense | 150 | 131 | 141 | 281 | 270 | |||||||||||||
Total noninterest expense | 1,013 | 931 | 1,019 | 1,944 | 1,982 | |||||||||||||
Income (loss) from continuing operations before income taxes | 215 | 168 | 510 | 383 | 998 | |||||||||||||
Income taxes | 30 | 23 | 87 | 53 | 169 | |||||||||||||
Income (loss) from continuing operations | 185 | 145 | 423 | 330 | 829 | |||||||||||||
Income (loss) from discontinued operations, net of taxes | 2 | 1 | 2 | 3 | 3 | |||||||||||||
Net income (loss) | 187 | 146 | 425 | 333 | 832 | |||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | — | — | — | — | — | |||||||||||||
Net income (loss) attributable to Key | $ | 187 | $ | 146 | $ | 425 | $ | 333 | $ | 832 | ||||||||
Income (loss) from continuing operations attributable to Key common shareholders | $ | 159 | $ | 118 | $ | 403 | $ | 277 | $ | 789 | ||||||||
Net income (loss) attributable to Key common shareholders | 161 | 119 | 405 | 280 | 792 | |||||||||||||
Per common share | ||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | $ | .16 | $ | .12 | $ | .40 | $ | .29 | $ | .79 | ||||||||
Income (loss) from discontinued operations, net of taxes | — | — | — | — | — | |||||||||||||
Net income (loss) attributable to Key common shareholders (a) | .17 | .12 | .40 | .29 | .79 | |||||||||||||
Per common share — assuming dilution | ||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | $ | .16 | $ | .12 | $ | .40 | $ | .28 | $ | .78 | ||||||||
Income (loss) from discontinued operations, net of taxes | — | — | — | — | — | |||||||||||||
Net income (loss) attributable to Key common shareholders (a) | .17 | .12 | $ | .40 | .29 | .78 | ||||||||||||
Cash dividends declared per common share | $ | .185 | $ | .185 | $ | .17 | $ | .37 | $ | .34 | ||||||||
Weighted-average common shares outstanding (000) | 967,147 | 967,446 | 999,163 | 967,380 | 1,003,047 | |||||||||||||
Effect of common share options and other stock awards | 4,994 | 8,664 | 8,801 | 6,892 | 9,318 | |||||||||||||
Weighted-average common shares and potential common shares outstanding (000) (b) | 972,141 | 976,110 | 1,007,964 | 974,272 | 1,012,365 | |||||||||||||
(a) | Earnings per share may not foot due to rounding. |
(b) | Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable. |