KEYCORP /NEW/

For the period ended Jun 30, 2026. Filed Aug 4, 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.

Jun 30, 2026 · Filed Aug 4, 2026

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

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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 · Six months ended
Dollars in millions · 6/30/2026 · 3/31/2026 · 12/31/2025 · 9/30/2025 · 6/30/2025 · 6/30/2026 · 6/30/2025
Net interest income (GAAP)	$1,250		$1,222		$1,215		$1,184		$1,141		$2,472		$2,237
Add:	Taxable-equivalent adjustment	8		8		8		9		9		16		18
	Noninterest income (GAAP)	706		723		782		702		690		1,429		1,358
Less:	Noninterest expense (GAAP)	1,217		1,181		1,241		1,177		1,154		2,398		2,285
Pre-provision net revenue from continuing operations (non-GAAP)	$747		$772		$764		$718		$686		$1,519		$1,328
Net income (loss) attributable to Key common shareholders (GAAP)	$473		$486		$475		$453		$389		$959		$758
Average Key shareholders’ equity (GAAP)	$19,947		$20,392		$20,388		$19,664		$19,268		$20,169		$18,952
Less:	Intangible assets (average)	2,756		2,758		2,762		2,767		2,772		2,757		2,774
	Preferred stock (average)	2,500		2,500		2,500		2,500		2,500		2,500		2,500
	Average tangible common equity (non-GAAP) (A)	$14,691		$15,134		$15,126		$14,397		$13,996		$14,912		$13,678
Key shareholders’ equity (GAAP)	$19,798		$19,987		$20,381		$20,102		$19,484
Less:	Intangible assets	2,755		2,757		2,760		2,765		2,770
	Preferred stock (a)	2,446		2,446		2,446		2,446		2,446
	Tangible common equity (non-GAAP) (B)	$14,597		$14,784		$15,175		$14,891		$14,268
Total assets (GAAP)	$191,317		$188,663		$184,381		$187,409		$185,499
Less:	Intangible assets	2,755		2,757		2,760		2,765		2,770
	Tangible assets (non-GAAP) (C)	$188,562		$185,906		$181,621		$184,644		$182,729
Tangible common equity to tangible assets ratio (non-GAAP) (B/C)	7.7%		8.0%		8.4%		8.1%		7.8%
Income (loss) from continuing operations attributable to Key common shareholders (GAAP) (D)	$472		$486		$474		$454		$387		$958		$757
Return on average tangible common equity from continuing operations (non-GAAP) (D/A)	12.9%		13.0%		12.4%		12.5%		11.1%		13.0%		11.2%

(a)Net of capital surplus.

Adjusted noninterest expense and adjusted noninterest income are non-GAAP measures in that they are 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 · Six months ended
Dollars in millions · 6/30/2026 · 3/31/2026 · 12/31/2025 · 9/30/2025 · 6/30/2025 · 6/30/2026 · 6/30/2025
Adjusted noninterest expense
Noninterest expense (GAAP)		$1,217		$1,181		$1,241		$1,177		$1,154		$2,398	$2,285
Adjustments:
	FDIC special assessment (other expense)	—	—		21	5	—		—		—
Adjusted noninterest expense (non-GAAP)		$1,217		$1,181		$1,262		$1,182		$1,154		$2,398	$2,285

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.