KEYCORP /NEW/ - FORM 8-K - EX-99.3

Attached files

file	filename
8-K - 8-K - KEYCORP /NEW/	d381145d8k.htm
EX-99.1 - EX-99.1 - KEYCORP /NEW/	d381145dex991.htm
EX-99.2 - EX-99.2 - KEYCORP /NEW/	d381145dex992.htm

Exhibit 99.3

Consolidated Balance Sheets

(dollars in millions)


	6-30-12			3-31-12			6-30-11
Assets
Loans	$	49,605		$	49,226		$	47,840
Loans held for sale		656			511			381
Securities available for sale		13,205			14,633			18,680
Held-to-maturity securities		4,352			3,019			19
Trading account assets		679			614			769
Short-term investments		2,216			3,605			4,563
Other investments		1,186			1,188			1,195

Total earning assets		71,899			72,796			73,447
Allowance for loan and lease losses		(888	)		(944	)		(1,230	)
Cash and due from banks		717			416			853
Premises and equipment		931			937			919
Operating lease assets		318			335			453
Goodwill		917			917			917
Other intangible assets		15			15			19
Corporate-owned life insurance		3,285			3,270			3,208
Derivative assets		818			830			900
Accrued income and other assets		2,978			3,091			2,968
Discontinued assets		5,533			5,768			6,328

Total assets	$	86,523		$	87,431		$	88,782

Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	28,957		$	29,124		$	26,277
Savings deposits		2,103			2,075			1,973
Certificates of deposit ($100,000 or more)		3,669			3,984			4,939
Other time deposits		5,385			5,848			7,167

Total interest-bearing deposits		40,114			41,031			40,356
Noninterest-bearing deposits		21,435			19,606			19,318
Deposits in foreign office — interest-bearing		618			857			736

Total deposits		62,167			61,494			60,410
Federal funds purchased and securities sold under repurchase agreements		1,716			1,846			1,668
Bank notes and other short-term borrowings		362			324			511
Derivative liabilities		763			754			991
Accrued expense and other liabilities		1,417			1,450			1,518
Long-term debt		7,521			8,898			10,997
Discontinued liabilities		2,401			2,549			2,950

Total liabilities		76,347			77,315			79,045

Equity
Preferred stock, Series A		291			291			291
Common shares		1,017			1,017			1,017
Capital surplus		4,120			4,116			4,191
Retained earnings		6,595			6,411			5,926
Treasury stock, at cost		(1,796	)		(1,717	)		(1,815	)
Accumulated other comprehensive income (loss)		(72	)		(19	)		109

Key shareholders’ equity		10,155			10,099			9,719
Noncontrolling interests		21			17			18

Total equity		10,176			10,116			9,737

Total liabilities and equity	$	86,523		$	87,431		$	88,782

Common shares outstanding (000)		945,473			956,102			953,822

Consolidated Statements of Income

(dollars in millions, except per share amounts)


	Three months ended								Six months ended
	6-30-12		3-31-12			6-30-11			6-30-12		6-30-11
Interest income
Loans	$	518	$	536		$	551		$	1,054	$	1,121
Loans held for sale		5		5			3			10		7
Securities available for sale		105		116			149			221		315
Held-to-maturity securities		17		12			1			29		1
Trading account assets		5		6			9			11		16
Short-term investments		2		1			1			3		2
Other investments		10		8			12			18		24

Total interest income		662		684			726			1,346		1,486

Interest expense
Deposits		71		77			100			148		210
Federal funds purchased and securities sold under repurchase agreements		1		1			2			2		3
Bank notes and other short-term borrowings		2		2			3			4		6
Long-term debt		50		51			57			101		106

Total interest expense		124		131			162			255		325


Net interest income		538		553			564			1,091		1,161
Provision (credit) for loan and lease losses		21		42			(8	)		63		(48	)

Net interest income (expense) after provision for loan and lease losses		517		511			572			1,028		1,209

Noninterest income
Trust and investment services income		102		109			113			211		223
Service charges on deposit accounts		70		68			69			138		137
Operating lease income		20		22			32			42		67
Letter of credit and loan fees		56		54			47			110		102
Corporate-owned life insurance income		30		30			28			60		55
Net securities gains (losses) ^(a)		—		—			2			—		1
Electronic banking fees		19		17			33			36		63
Gains on leased equipment		36		27			5			63		9
Insurance income		11		12			14			23		29
Net gains (losses) from loan sales		32		22			11			54		30
Net gains (losses) from principal investing		24		35			17			59		52
Investment banking and capital markets income (loss)		37		43			42			80		85
Other income		48		33			41			81		58

Total noninterest income		485		472			454			957		911

Noninterest expense
Personnel		389		385			380			774		751
Net occupancy		62		64			62			126		127
Operating lease expense		15		17			25			32		53
Computer processing		43		41			42			84		84
Business services and professional fees		51		38			44			89		82
FDIC assessment		8		8			9			16		38
OREO expense, net		7		6			(3	)		13		7
Equipment		27		26			26			53		52
Marketing		17		13			10			30		20
Provision (credit) for losses on lending-related commitments		6		—			(12	)		6		(16	)
Other expense		89		105			97			194		183

Total noninterest expense		714		703			680			1,417		1,381

Income (loss) from continuing operations before income taxes		288		280			346			568		739
Income taxes		57		75			94			132		205

Income (loss) from continuing operations		231		205			252			436		534
Income (loss) from discontinued operations, net of taxes		10		(5	)		(9	)		5		(20	)

Net income (loss)		241		200			243			441		514
Less: Net income (loss) attributable to noncontrolling interests		5		—			3			5		11

Net income (loss) attributable to Key	$	236	$	200		$	240		$	436	$	503

Income (loss) from continuing operations attributable to Key common shareholders	$	221	$	199		$	243		$	420	$	427
Net income (loss) attributable to Key common shareholders		231		194			234			425		407

Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.23	$	.21		$	.26		$	.44	$	.47
Income (loss) from discontinued operations, net of taxes		.01		(.01	)		(.01	)		.01		(.02	)
Net income (loss) attributable to Key common shareholders		.24		.20			.25			.45		.44

Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.23	$	.21		$	.26		$	.44	$	.46
Income (loss) from discontinued operations, net of taxes		.01		(.01	)		(.01	)		.01		(.02	)
Net income (loss) attributable to Key common shareholders^(c)		.24		.20			.25			.45		.44

Cash dividends declared per common share	$	.05	$	.03		$	.03		$	.08	$	.04

Weighted-average common shares outstanding (000)		944,648		949,342			947,565			946,995		914,911
Weighted-average common shares and potential common shares outstanding (000)^(b)		948,087		953,971			952,133			951,029		920,162

(a)	For the three months ended June 30, 2012, March 31, 2012, and June 30, 2011 Key did not have any impairment losses related to securities.

(b)	Assumes conversion of stock options and/or Preferred Series A shares, as applicable.

(c)	Earnings per share may not foot due to rounding.

KEYCORP /NEW/ - FORM 8-K - EX-99.3 - July 19, 2012

Attached files

KEYCORP /NEW/ Reports