KEYCORP /NEW/
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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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, 2026 · Filed Aug 4, 2026
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Commercial Bank
Summary of operations
| Three Months Ended June 30, · Percent | |||
|---|---|---|---|
| Dollars in millions | 2026 | 2025 | Change |
| Summary of operations | |||
| Net interest income (TE) | $697 | $649 | 7.4% |
| Noninterest income | 411 | 425 | (3.3) |
| Total revenue (TE) | 1,108 | 1,074 | 3.2 |
| Provision for credit losses | 67 | 84 | (20.2) |
| Noninterest expense | 503 | 451 | 11.5 |
| Income (loss) before income taxes (TE) | 538 | 539 | (.2) |
| Allocated income taxes (benefit) and TE adjustments | 115 | 116 | (.9) |
| Net income (loss) attributable to Key | $423 | $423 | —% |
| Average loans and leases | |||
| Commercial and industrial | $58,676 | $51,819 | 13.2% |
| Real estate — commercial mortgage | 12,729 | 11,986 | 6.2 |
| Real estate — construction | 2,719 | 2,769 | (1.8) |
| Commercial lease financing | 2,108 | 2,506 | (15.9) |
| Other loans | 6 | 9 | (33.3) |
| Total loans and leases | $76,238 | $69,089 | 10.3% |
| Average deposits | |||
| Money market deposits | $6,726 | $8,026 | (16.2)% |
| Demand deposits | 38,714 | 34,692 | 11.6 |
| Other deposits | 412 | 559 | (26.3) |
| Noninterest-bearing deposits | 13,043 | 12,649 | 3.1 |
| Total deposits | $58,895 | $55,927 | 5.3% |
| Credit-related statistics | |||
| Nonperforming assets at period end | $565 | $438 | |
| Net loan charge-offs | 71 | 62 | |
| Net loan charge-offs to average total loans | 0.37% | 0.36% | |
Net income attributable to Key of $423 million for the second quarter of 2026, compared to $423 million for the year-ago quarter
Taxable-equivalent net interest income attributable to the Commercial Bank increased $48 million or 7.4%, compared to the second quarter of 2025
Average loan and lease balances increased $7.1 billion, or 10.3%, compared to the second quarter of 2025, driven by an increase in commercial and industrial loans
Average deposit balances increased $3.0 billion, or 5.3%, compared to the second quarter of 2025, driven by higher client deposits
Provision for credit losses decreased $17 million compared to the second quarter of 2025, driven by the impact to reserves due to improved economic assumptions
Noninterest income decreased $14 million, or 3.3%, from the second quarter of 2025, primarily driven by a decrease in commercial mortgage servicing fees
Noninterest expense increased $52 million, or 11.5%, compared to the second quarter of 2025, driven by an increase in personnel expense and support and overhead expense
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