Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE, DATED JANUARY 24, 2012 - KEYCORP /NEW/ | d286107dex991.htm |
| 8-K - FORM 8-K - KEYCORP /NEW/ | d286107d8k.htm |
| EX-99.2 - SUPPLEMENTAL INFORMATION PACKAGE - KEYCORP /NEW/ | d286107dex992.htm |
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
| 12-31-11 | 9-30-11 | 12-31-10 | ||||||||||
| Assets |
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| Loans |
$ | 49,575 | $ | 48,195 | $ | 50,107 | ||||||
| Loans held for sale |
728 | 479 | 467 | |||||||||
| Securities available for sale |
16,012 | 17,612 | 21,933 | |||||||||
| Held-to-maturity securities |
2,109 | 1,176 | 17 | |||||||||
| Trading account assets |
623 | 729 | 985 | |||||||||
| Short-term investments |
3,519 | 4,766 | 1,344 | |||||||||
| Other investments |
1,163 | 1,210 | 1,358 | |||||||||
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| Total earning assets |
73,729 | 74,167 | 76,211 | |||||||||
| Allowance for loan and lease losses |
(1,004 | ) | (1,131 | ) | (1,604 | ) | ||||||
| Cash and due from banks |
694 | 828 | 278 | |||||||||
| Premises and equipment |
944 | 924 | 908 | |||||||||
| Operating lease assets |
350 | 393 | 509 | |||||||||
| Goodwill |
917 | 917 | 917 | |||||||||
| Other intangible assets |
17 | 18 | 21 | |||||||||
| Corporate-owned life insurance |
3,256 | 3,227 | 3,167 | |||||||||
| Derivative assets |
945 | 940 | 1,006 | |||||||||
| Accrued income and other assets |
3,077 | 2,946 | 3,876 | |||||||||
| Discontinued assets |
5,860 | 6,033 | 6,554 | |||||||||
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| Total assets |
$ | 88,785 | $ | 89,262 | $ | 91,843 | ||||||
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| Liabilities |
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| Deposits in domestic offices: |
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| NOW and money market deposit accounts |
$ | 27,954 | $ | 27,548 | $ | 27,066 | ||||||
| Savings deposits |
1,962 | 1,968 | 1,879 | |||||||||
| Certificates of deposit ($100,000 or more) |
4,111 | 4,457 | 5,862 | |||||||||
| Other time deposits |
6,243 | 6,695 | 8,245 | |||||||||
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| Total interest-bearing deposits |
40,270 | 40,668 | 43,052 | |||||||||
| Noninterest-bearing deposits |
21,098 | 19,803 | 16,653 | |||||||||
| Deposits in foreign office — interest-bearing |
588 | 561 | 905 | |||||||||
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| Total deposits |
61,956 | 61,032 | 60,610 | |||||||||
| Federal funds purchased and securities sold under repurchase agreements |
1,711 | 1,728 | 2,045 | |||||||||
| Bank notes and other short-term borrowings |
337 | 519 | 1,151 | |||||||||
| Derivative liabilities |
1,026 | 1,141 | 1,142 | |||||||||
| Accrued expense and other liabilities |
1,763 | 1,556 | 1,931 | |||||||||
| Long-term debt |
9,520 | 10,717 | 10,592 | |||||||||
| Discontinued liabilities |
2,550 | 2,651 | 2,998 | |||||||||
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| Total liabilities |
78,863 | 79,344 | 80,469 | |||||||||
| Equity |
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| Preferred stock, Series A |
291 | 291 | 291 | |||||||||
| Preferred stock, Series B |
— | — | 2,446 | |||||||||
| Common shares |
1,017 | 1,017 | 946 | |||||||||
| Common stock warrant |
— | — | 87 | |||||||||
| Capital surplus |
4,194 | 4,191 | 3,711 | |||||||||
| Retained earnings |
6,246 | 6,079 | 5,557 | |||||||||
| Treasury stock, at cost |
(1,815 | ) | (1,820 | ) | (1,904 | ) | ||||||
| Accumulated other comprehensive income (loss) |
(28 | ) | 143 | (17 | ) | |||||||
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| Key shareholders' equity |
9,905 | 9,901 | 11,117 | |||||||||
| Noncontrolling interests |
17 | 17 | 257 | |||||||||
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| Total equity |
9,922 | 9,918 | 11,374 | |||||||||
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| Total liabilities and equity |
$ | 88,785 | $ | 89,262 | $ | 91,843 | ||||||
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| Common shares outstanding (000) |
953,008 | 952,808 | 880,608 | |||||||||
Consolidated Statements of Income
(dollars in millions, except per share amounts)
| Three months ended | Twelve months ended | |||||||||||||||||||
| 12-31-11 | 9-30-11 | 12-31-10 | 12-31-11 | 12-31-10 | ||||||||||||||||
| Interest income |
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| Loans |
$ | 542 | $ | 543 | $ | 617 | $ | 2,206 | $ | 2,653 | ||||||||||
| Loans held for sale |
4 | 3 | 4 | 14 | 17 | |||||||||||||||
| Securities available for sale |
128 | 140 | 170 | 583 | 644 | |||||||||||||||
| Held-to-maturity securities |
9 | 2 | — | 12 | 2 | |||||||||||||||
| Trading account assets |
5 | 5 | 8 | 26 | 37 | |||||||||||||||
| Short-term investments |
1 | 3 | 1 | 6 | 6 | |||||||||||||||
| Other investments |
9 | 9 | 11 | 42 | 49 | |||||||||||||||
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| Total interest income |
698 | 705 | 811 | 2,889 | 3,408 | |||||||||||||||
| Interest expense |
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| Deposits |
85 | 95 | 124 | 390 | 671 | |||||||||||||||
| Federal funds purchased and securities sold under repurchase agreements |
1 | 1 | 2 | 5 | 6 | |||||||||||||||
| Bank notes and other short-term borrowings |
2 | 3 | 3 | 11 | 14 | |||||||||||||||
| Long-term debt |
53 | 57 | 53 | 216 | 206 | |||||||||||||||
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| Total interest expense |
141 | 156 | 182 | 622 | 897 | |||||||||||||||
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| Net interest income |
557 | 549 | 629 | 2,267 | 2,511 | |||||||||||||||
| Provision (credit) for loan and lease losses |
(22 | ) | 10 | (97 | ) | (60 | ) | 638 | ||||||||||||
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| Net interest income (expense) after provision for loan and lease losses |
579 | 539 | 726 | 2,327 | 1,873 | |||||||||||||||
| Noninterest income |
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| Trust and investment services income |
104 | 107 | 108 | 434 | 444 | |||||||||||||||
| Service charges on deposit accounts |
70 | 74 | 70 | 281 | 301 | |||||||||||||||
| Operating lease income |
25 | 30 | 42 | 122 | 173 | |||||||||||||||
| Letter of credit and loan fees |
56 | 55 | 51 | 213 | 194 | |||||||||||||||
| Corporate-owned life insurance income |
35 | 31 | 42 | 121 | 137 | |||||||||||||||
| Net securities gains (losses) (a) |
— | — | 12 | 1 | 14 | |||||||||||||||
| Electronic banking fees |
18 | 33 | 31 | 114 | 117 | |||||||||||||||
| Gains on leased equipment |
9 | 7 | 6 | 25 | 20 | |||||||||||||||
| Insurance income |
11 | 13 | 12 | 53 | 64 | |||||||||||||||
| Net gains (losses) from loan sales |
27 | 18 | 29 | 75 | 76 | |||||||||||||||
| Net gains (losses) from principal investing |
(8 | ) | 34 | (6 | ) | 78 | 66 | |||||||||||||
| Investment banking and capital markets income (loss) |
24 | 25 | 63 | 134 | 145 | |||||||||||||||
| Other income |
43 | 56 | 66 | 157 | 203 | |||||||||||||||
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| Total noninterest income |
414 | 483 | 526 | 1,808 | 1,954 | |||||||||||||||
| Noninterest expense |
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| Personnel |
387 | 382 | 365 | 1,520 | 1,471 | |||||||||||||||
| Net occupancy |
66 | 65 | 70 | 258 | 270 | |||||||||||||||
| Operating lease expense |
18 | 23 | 28 | 94 | 142 | |||||||||||||||
| Computer processing |
42 | 40 | 45 | 166 | 185 | |||||||||||||||
| Business services and professional fees |
57 | 47 | 56 | 186 | 176 | |||||||||||||||
| FDIC assessment |
7 | 7 | 27 | 52 | 124 | |||||||||||||||
| OREO expense, net |
5 | 1 | 10 | 13 | 68 | |||||||||||||||
| Equipment |
25 | 26 | 26 | 103 | 100 | |||||||||||||||
| Marketing |
24 | 16 | 22 | 60 | 72 | |||||||||||||||
| Provision (credit) for losses on lending-related commitments |
(11 | ) | (1 | ) | (26 | ) | (28 | ) | (48 | ) | ||||||||||
| Other expense |
97 | 86 | 121 | 366 | 474 | |||||||||||||||
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| Total noninterest expense |
717 | 692 | 744 | 2,790 | 3,034 | |||||||||||||||
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| Income (loss) from continuing operations before income taxes |
276 | 330 | 508 | 1,345 | 793 | |||||||||||||||
| Income taxes |
69 | 95 | 172 | 369 | 186 | |||||||||||||||
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| Income (loss) from continuing operations |
207 | 235 | 336 | 976 | 607 | |||||||||||||||
| Income (loss) from discontinued operations, net of taxes |
(7 | ) | (17 | ) | (13 | ) | (44 | ) | (23 | ) | ||||||||||
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| Net income (loss) |
200 | 218 | 323 | 932 | 584 | |||||||||||||||
| Less: Net income (loss) attributable to noncontrolling interests |
— | 1 | 3 | 12 | 30 | |||||||||||||||
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| Net income (loss) attributable to Key |
$ | 200 | $ | 217 | $ | 320 | $ | 920 | $ | 554 | ||||||||||
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | 201 | $ | 229 | $ | 292 | $ | 857 | $ | 413 | ||||||||||
| Net income (loss) attributable to Key common shareholders |
194 | 212 | 279 | 813 | 390 | |||||||||||||||
| Per common share |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .21 | $ | .24 | $ | .33 | $ | .92 | $ | .47 | ||||||||||
| Income (loss) from discontinued operations, net of taxes |
(.01 | ) | (.02 | ) | (.02 | ) | (.05 | ) | (.03 | ) | ||||||||||
| Net income (loss) attributable to Key common shareholders |
.20 | .22 | .32 | .87 | .45 | |||||||||||||||
| Per common share — assuming dilution |
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| Income (loss) from continuing operations attributable to Key common shareholders |
$ | .21 | $ | .24 | $ | .33 | $ | .92 | $ | .47 | ||||||||||
| Income (loss) from discontinued operations, net of taxes |
(.01 | ) | (.02 | ) | (.02 | ) | (.05 | ) | (.03 | ) | ||||||||||
| Net income (loss) attributable to Key common shareholders |
.20 | .22 | .32 | .87 | .44 | |||||||||||||||
| Cash dividends declared per common share |
$ | .03 | $ | .03 | $ | .01 | $ | .10 | $ | .04 | ||||||||||
| Weighted-average common shares outstanding (000) |
948,658 | 948,702 | 875,501 | 931,934 | 874,748 | |||||||||||||||
| Weighted-average common shares and potential common shares outstanding (000) (b) |
951,684 | 950,686 | 900,263 | 935,801 | 878,153 | |||||||||||||||
| (a) | For the three months ended December 31, 2011, September 30, 2011 and December 31, 2010 Key did not have any impairment losses related to securities. |
| (b) | Assumes conversion of stock options and/or Preferred Series A shares, as applicable. |