KEYCORP /NEW/ - FORM 8-K - EX-99.3 - October 21, 2020

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EX-99.2 - EX-99.2 - KEYCORP /NEW/key-3q20confcallslidevf.htm
EX-99.1 - EX-99.1 - KEYCORP /NEW/a3q20earningsrelease.htm
8-K - 8-K - KEYCORP /NEW/key-20201021.htm
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
9/30/20206/30/20209/30/2019
Assets
Loans$103,081 $106,159 $92,760 
Loans held for sale 1,724 2,007 1,598 
Securities available for sale26,895 23,600 22,378 
Held-to-maturity securities8,384 9,075 10,490 
Trading account assets733 645 963 
Short-term investments14,148 14,036 3,351 
Other investments620 655 620 
Total earning assets155,585 156,177 132,160 
Allowance for loan and lease losses(1,730)(1,708)(893)
Cash and due from banks956 1,059 636 
Premises and equipment765 776 815 
Goodwill2,664 2,664 2,664 
Other intangible assets203 218 272 
Corporate-owned life insurance4,274 4,251 4,216 
Accrued income and other assets7,084 6,976 5,881 
Discontinued assets739 779 940 
Total assets$170,540 $171,192 $146,691 
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts$80,791 $78,853 $65,604 
Savings deposits5,585 5,371 4,668 
Certificates of deposit ($100,000 or more)3,345 4,476 7,194 
Other time deposits3,450 4,011 5,300 
Total interest-bearing deposits93,171 92,711 82,766 
Noninterest-bearing deposits43,575 42,802 28,883 
Total deposits136,746 135,513 111,649 
Federal funds purchased and securities sold under repurchase agreements 213 267 182 
Bank notes and other short-term borrowings818 1,716 700 
Accrued expense and other liabilities2,356 2,420 2,574 
Long-term debt12,685 13,734 14,470 
Total liabilities152,818 153,650 129,575 
Equity
Preferred stock1,900 1,900 1,900 
Common shares1,257 1,257 1,257 
Capital surplus6,263 6,240 6,287 
Retained earnings12,375 12,154 12,209 
Treasury stock, at cost(4,940)(4,945)(4,696)
Accumulated other comprehensive income (loss)867 936 159 
Key shareholders’ equity17,722 17,542 17,116 
Noncontrolling interests— — — 
Total equity17,722 17,542 17,116 
Total liabilities and equity$170,540 $171,192 $146,691 
Common shares outstanding (000)976,205 975,947 988,538 



Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedNine months ended
9/30/20206/30/20209/30/20199/30/20209/30/2019
Interest income
Loans$927 $980 $1,073 $2,933 $3,221 
Loans held for sale18 21 18 58 46 
Securities available for sale115 121 136 365 400 
Held-to-maturity securities53 56 64 171 199 
Trading account assets3 5 7 16 24 
Short-term investments1 7 16 14 49 
Other investments2 — 3 3 11 
Total interest income1,119 1,190 1,317 3,560 3,950 
Interest expense
Deposits54 96 227 319 652 
Federal funds purchased and securities sold under repurchase agreements— — — 6 1 
Bank notes and other short-term borrowings1 5 4 11 13 
Long-term debt64 71 114 225 354 
Total interest expense119 172 345 561 1,020 
Net interest income1,000 1,018 972 2,999 2,930 
Provision for credit losses160 482 200 1,001 336 
Net interest income after provision for credit losses840 536 772 1,998 2,594 
Noninterest income
Trust and investment services income128 123 118 384 355 
Investment banking and debt placement fees146 156 176 418 449 
Service charges on deposit accounts77 68 86 229 251 
Operating lease income and other leasing gains38 60 42 128 123 
Corporate services income51 52 63 165 171 
Cards and payments income114 91 69 271 208 
Corporate-owned life insurance income30 35 32 101 97 
Consumer mortgage income51 62 16 133 42 
Commercial mortgage servicing fees18 12 21 48 58 
Other income28 33 27 (27)54 
Total noninterest income681 692 650 1,850 1,808 
Noninterest expense
Personnel588 572 547 1,675 1,699 
Net occupancy76 71 72 223 217 
Computer processing59 56 53 170 163 
Business services and professional fees49 49 43 142 132 
Equipment25 25 27 74 75 
Operating lease expense33 34 33 103 91 
Marketing22 24 26 67 69 
FDIC assessment6 8 7 23 23 
Intangible asset amortization15 18 26 50 70 
OREO expense, net(1)6 3 8 10 
Other expense165 150 102 446 372 
Total noninterest expense1,037 1,013 939 2,981 2,921 
Income (loss) from continuing operations before income taxes484 215 483 867 1,481 
Income taxes60 30 70 113 239 
Income (loss) from continuing operations424 185 413 754 1,242 
Income (loss) from discontinued operations, net of taxes4 2 3 7 6 
Net income (loss)428 187 416 761 1,248 
Less: Net income (loss) attributable to noncontrolling interests— — — — — 
Net income (loss) attributable to Key$428 $187 $416 $761 $1,248 
Income (loss) from continuing operations attributable to Key common shareholders$397 $159 $383 $674 $1,172 
Net income (loss) attributable to Key common shareholders401 161 386 681 1,178 
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.41 $.16 $.39 $.7 $1.17 
Income (loss) from discontinued operations, net of taxes— — — .01 .01 
Net income (loss) attributable to Key common shareholders (a)
.41 .17 .39 .7 1.18 
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.41 $.16 $.38 $.69 $1.16 
Income (loss) from discontinued operations, net of taxes— — — .01 .01 
Net income (loss) attributable to Key common shareholders (a)
.41 .17 $.39 .70 1.17 
Cash dividends declared per common share$.185 $.185 $.185 $.555 $.525 
Weighted-average common shares outstanding (000)967,804 967,147 988,319 967,632 998,268 
Effect of common share options and other stock awards6,184 4,994 10,009 6,648 9,632 
Weighted-average common shares and potential common shares outstanding (000) (b)
973,988 972,141 998,328 974,280 1,007,900 
(a)Earnings per share may not foot due to rounding.
(b)Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable.


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