KEYCORP NEW

For the period ended Jun 30, 2024. Filed Jul 26, 2024.

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.

Jun 30, 2024 · Filed Jul 26, 2024

KEY$21.41+2.7%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Income

Dollars in millions, except per share amounts	Three months ended June 30,		Six months ended June 30,
(Unaudited)	2024	2023	2024	2023
INTEREST INCOME
Loans	$1,524	$1,576	$3,062	$3,052
Loans held for sale	8	17	22	30
Securities available for sale	259	194	491	388
Held-to-maturity securities	73	81	148	155
Trading account assets	16	15	30	27
Short-term investments	192	111	334	153
Other investments	16	16	33	29
Total interest income	2,088	2,010	4,120	3,834
INTEREST EXPENSE
Deposits	817	531	1,599	881
Federal funds purchased and securities sold under repurchase agreements	1	48	2	70
Bank notes and other short-term borrowings	51	104	97	182
Long-term debt	332	349	660	624
Total interest expense	1,201	1,032	2,358	1,757
NET INTEREST INCOME	887	978	1,762	2,077
Provision for credit losses	100	167	201	306
Net interest income after provision for credit losses	787	811	1,561	1,771
NONINTEREST INCOME
Trust and investment services income	139	126	275	254
Investment banking and debt placement fees	126	120	296	265
Cards and payments income	85	85	162	166
Service charges on deposit accounts	66	69	129	136
Corporate services income	68	86	137	162
Commercial mortgage servicing fees	61	50	117	96
Corporate-owned life insurance income	34	32	66	61
Consumer mortgage income	16	14	30	25
Operating lease income and other leasing gains	21	23	45	48
Other income	11	4	17	4
Total noninterest income	627	609	1,274	1,217
NONINTEREST EXPENSE
Personnel	636	622	1,310	1,323
Net occupancy	66	65	133	135
Computer processing	101	95	203	187
Business services and professional fees	37	41	78	86
Equipment	20	22	40	44
Operating lease expense	17	21	34	41
Marketing	21	29	40	50
Other expense	181	181	384	386
Total noninterest expense	1,079	1,076	2,222	2,252
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	335	344	613	736
Income taxes	62	58	121	139
INCOME (LOSS) FROM CONTINUING OPERATIONS	273	286	492	597
Income (loss) from discontinued operations	1	1	1	2
NET INCOME (LOSS)	274	287	493	599
Less: Net income (loss) attributable to noncontrolling interests	—	—	—	—
NET INCOME (LOSS) ATTRIBUTABLE TO KEY	$274	$287	$493	$599
Income (loss) from continuing operations attributable to Key common shareholders	$237	$250	$420	$525
Net income (loss) attributable to Key common shareholders	238	251	421	527
Per Common Share:
Income (loss) from continuing operations attributable to Key common shareholders	$.25	$.27	$.45	$.57
Income (loss) from discontinued operations, net of taxes	—	—	—	—
Net income (loss) attributable to Key common shareholders (a)	.25	.27	.45	.57
Per Common Share — assuming dilution:
Income (loss) from continuing operations attributable to Key common shareholders	$.25	$.27	$.45	$.56
Income (loss) from discontinued operations, net of taxes	—	—	—	—
Net income (loss) attributable to Key common shareholders (a)	.25	.27	.45	.57
Weighted-average Common Shares outstanding (000)	931,726	926,741	930,776	926,807
Effect of Common Share options and other stock awards	6,761	3,713	7,040	5,513
Weighted-average Common Shares and potential Common Shares outstanding (000) (b)	938,487	930,454	937,816	932,320

(a)EPS may not foot due to rounding.

(b)Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.

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.