KEYCORP /NEW/

For the period ended Sep 30, 2026. Filed Nov 3, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 3, 2026

KEY$21.34-0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

GAAP to Non-GAAP Reconciliations

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not

audited. Although these non-GAAP financial measures are frequently used by investors to evaluate a company,

they have limitations as analytical tools, and should not be considered in isolation, nor as a substitute for analyses

of results as reported under GAAP.

The tangible common equity ratio and the return on tangible common equity ratio have been a focus for some investors, and management believes that these ratios may assist investors in analyzing Key’s capital position without regard to the effects of intangible assets and preferred stock. Since analysts and banking regulators may assess our capital adequacy using tangible common equity, we believe it is useful to enable investors to assess our capital adequacy on these same bases.

Three months ended · Nine months ended
Dollars in millions · 9/30/2026 · 6/30/2026 · 3/31/2026 · 12/31/2025 · 9/30/2025 · 9/30/2026 · 9/30/2025
Net interest income (GAAP)	$1,300		$1,250		$1,222		$1,215		$1,184		$3,772		$3,421
Add:	Taxable-equivalent adjustment	8		8		8		8		9		24		27
	Noninterest income (GAAP)	744		706		723		782		702		2,173		2,060
Less:	Noninterest expense (GAAP)	1,245		1,217		1,181		1,241		1,177		3,643		3,462
Pre-provision net revenue from continuing operations (non-GAAP)	$807		$747		$772		$764		$718		$2,326		$2,046
Net income (loss) attributable to Key common shareholders (GAAP)	$537		$473		$486		$475		$453		$1,496		$1,211
Average Key shareholders’ equity (GAAP)	$19,307		$19,947		$20,392		$20,388		$19,664		$19,878		$19,193
Less:	Intangible assets (average)	2,796		2,756		2,758		2,762		2,767		2,770		2,772
	Preferred stock (average)	2,409		2,500		2,500		2,500		2,500		2,469		2,500
	Average tangible common equity (non-GAAP) (A)	$14,102		$14,691		$15,134		$15,126		$14,397		$14,639		$13,921
Key shareholders’ equity (GAAP)	$17,809		$19,798		$19,987		$20,381		$20,102
Less:	Intangible assets	2,814		2,755		2,757		2,760		2,765
	Preferred stock (a)	1,927		2,446		2,446		2,446		2,446
	Tangible common equity (non-GAAP) (B)	$13,068		$14,597		$14,784		$15,175		$14,891
Total assets (GAAP)	$193,102		$191,317		$188,663		$184,381		$187,409
Less:	Intangible assets	2,814		2,755		2,757		2,760		2,765
	Tangible assets (non-GAAP) (C)	$190,288		$188,562		$185,906		$181,621		$184,644
Tangible common equity to tangible assets ratio (non-GAAP) (B/C)	6.9%		7.7%		8.0%		8.4%		8.1%
Income (loss) from continuing operations attributable to Key common shareholders (GAAP) (D)	$537		$472		$486		$474		$454		$1,495		$1,211
Return on average tangible common equity from continuing operations (non-GAAP) (D/A)	15.1%		12.9%		13.0%		12.4%		12.5%		13.7%		11.6%

(a)Net of capital surplus.

Adjusted noninterest expense is a non-GAAP measure in that it is adjusted to exclude the impact of significant or unusual items. Management believes adjusting for significant or unusual items provide investors with useful information to gain a better understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of the financial impacts related to those selected items.

Three months ended · Nine months ended
Dollars in millions · 9/30/2026 · 6/30/2026 · 3/31/2026 · 12/31/2025 · 9/30/2025 · 9/30/2026 · 9/30/2025
Adjusted noninterest expense
Noninterest expense (GAAP)		$1,245		$1,217		$1,181		$1,241		$1,177		$3,643	$3,462
Adjustments:
	FDIC special assessment (other expense)	—	—		—	21	5		—		5
Adjusted noninterest expense (non-GAAP)		$1,245		$1,217		$1,181		$1,262		$1,182		$3,643	$3,467

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.