KEYCORP /NEW/
For the period ended Mar 31, 2026. Filed May 5, 2026.
View on SEC.govAbout 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.
Mar 31, 2026 · Filed May 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consumer Bank
Summary of operations
| Three Months Ended March 31, · Percent | |||
|---|---|---|---|
| Dollars in millions | 2026 | 2025 | Change |
| Summary of operations | |||
| Net interest income (TE) | $738 | $706 | 4.5% |
| Noninterest income | 240 | 226 | 6.2 |
| Total revenue (TE) | 978 | 932 | 4.9 |
| Provision for credit losses | 40 | 43 | (7.0) |
| Noninterest expense | 709 | 675 | 5.0 |
| Income (loss) before income taxes (TE) | 229 | 214 | 7.0 |
| Allocated income taxes (benefit) and TE adjustments | 56 | 51 | 9.8 |
| Net income (loss) attributable to Key | $173 | $163 | 6.1% |
| Average loans and leases | |||
| Real estate — residential mortgage | $18,589 | $19,728 | (5.8)% |
| Home equity loans | 5,564 | 6,214 | (10.5) |
| Other consumer loans | 4,569 | 5,078 | (10.0) |
| Credit cards | 910 | 917 | (.8) |
| Commercial loans | 4,373 | 4,882 | (10.4) |
| Total loans and leases | $34,005 | $36,819 | (7.6)% |
| Average deposits | |||
| Money market deposits | $35,920 | $33,533 | 7.1% |
| Demand deposits | 23,214 | 22,772 | 1.9 |
| Savings deposits | 4,199 | 4,392 | (4.4) |
| Time deposits | 10,610 | 13,318 | (20.3) |
| Noninterest-bearing deposits | 13,853 | 14,291 | (3.1) |
| Total deposits | $87,796 | $88,306 | (.6)% |
| Credit-related statistics | |||
| Nonperforming assets at period end | $270 | $278 | |
| Net loan charge-offs | 40 | 52 | |
| Net loan charge-offs to average total loans | 0.48% | 0.57% | |
Net income attributable to Key of $173 million for the first quarter of 2026, compared to $163 million for the year-ago quarter
Taxable-equivalent net interest income attributable to the Consumer Bank increased $32 million, or 4.5%, compared to the first quarter of 2025
Average loans and leases decreased $2.8 billion, or 7.6%, from the first quarter of 2025, reflective of broad-based declines across all loan categories
Average deposits decreased $510 million, or 0.6%, from the first quarter of 2025, driven by lower time deposits, partially offset by an increase in money market deposits
Provision for credit losses decreased $3 million compared to the first quarter of 2025, driven by lower charge-offs
Noninterest income increased $14 million, or 6.2%, from the first quarter of 2025, primarily driven by higher trust and investment services income
Noninterest expense increased $34 million, or 5.0%, from the first quarter of 2025, primarily driven by higher support and overhead expense
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