KEYCORP /NEW/ (KEY) · Material Event (8-K) SEC Filing

EX-99.3 4 a2q26erex993.htm EX-99.3 DocumentExhibit 99.3 Consolidated Balance Sheets (dollars in millions) 6 30 2026 3 31 2026 6 30 2025 Assets Loans $ 110,430 $ 109,190 $ 106,389 Loans held for sale 1,198 876 530 Securities available for sale 38,459 38,918 40,669 Held-to-maturity securities 9,515 9,116 6,914 Trading account assets 936 783 1,374 Short-term investments 12,416 11,782 11,564 Other investments 1,230 1,204 1,058 Total earning assets 174,184 171,869 168,498 Allowance for loan and lease losses (1,445) (1,449) (1,446) Cash and due from banks 1,711 1,130 1,766 Premises and equipment 620 618 599 Goodwill 2,752 2,752 2,752 Other intangible assets 3 5 18 Corporate-owned life insurance 4,456 4,439 4,423 Accrued income and other assets 8,848 9,100 8,654 Discontinued assets 188 199 235 Total assets $ 191,317 $ 188,663 $ 185,499 Liabilities Deposits in domestic offices Interest-bearing deposits 122,196 120,220 119,230 Noninterest-bearing deposits 30,893 27,595 27,675 Total deposits 153,089 147,815 146,905 Federal funds purchased and securities sold under repurchase agreements 5 34 20 Bank notes and other short-term borrowings 3,680 6,149 2,754 Accrued expense and other liabilities 3,778 3,801 4,273 Long-term debt 10,967 10,877 12,063 Total liabilities 171,519 168,676 166,015 Equity Preferred stock 2,500 2,500 2,500 Common shares 1,257 1,257 1,257 Capital surplus 6,014 5,981 5,971 Retained earnings 15,873 15,622 14,886 Treasury stock, at cost (3,492) (3,152) (2,629) Accumulated other comprehensive income (loss) (2,354) (2,221) (2,501) Total equity 19,798 19,987 19,484 Total liabilities and equity $ 191,317 $ 188,663 $ 185,499 Common shares outstanding (000) 1,072,035 1,087,293 1,112,453 Consolidated Statements of Income (dollars in millions, except per share amounts) Three months ended Six months ended 6 30 2026 3 31 2026 6 30 2025 6 30 2026 6 30 2025 Interest income Loans $ 1,463 $ 1,416 $ 1,443 $ 2,879 $ 2,844 Loans held for sale 15 14 11 29 25 Securities available for sale 367 370 411 737 803 Held-to-maturity securities 95 86 61 181 124 Trading account assets 10 11 16 21 33 Short-term investments 101 103 157 204 331 Other investments 8 5 8 13 17 Total interest income 2,059 2,005 2,107 4,064 4,177 Interest expense Deposits 600 598 730 1,198 1,483 Federal funds purchased and securities sold under repurchase agreements 19 14 4 33 5 Bank notes and other short-term borrowings 35 20 34 55 61 Long-term debt 155 151 198 306 391 Total interest expense 809 783 966 1,592 1,940 Net interest income 1,250 1,222 1,141 2,472 2,237 Provision for credit losses 92 106 138 198 256 Net interest income after provision for credit losses 1,158 1,116 1,003 2,274 1,981 Noninterest income Trust and investment services income 159 157 146 316 285 Investment banking and debt placement fees 169 197 178 366 353 Service charges on deposit accounts 77 77 73 154 142 Operating lease income and other leasing gains 10 8 14 18 23 Corporate services income 80 71 76 151 141 Cards and payments income 94 86 85 180 167 Corporate-owned life insurance income 33 34 32 67 65 Consumer mortgage income 17 13 15 30 28 Commercial mortgage servicing fees 49 62 70 111 146 Other income 15 18 1 33 8 Net securities gains (losses) 3 3 Total noninterest income 706 723 690 1,429 1,358 Noninterest expense Personnel 786 743 705 1,529 1,385 Net occupancy 68 68 69 136 136 Computer processing 108 111 107 219 214 Business services and professional fees 46 36 48 82 88 Equipment 22 19 21 41 41 Operating lease expense 7 7 10 14 21 Marketing 22 18 24 40 45 Other expense 158 179 170 337 355 Total noninterest expense 1,217 1,181 1,154 2,398 2,285 Income (loss) from continuing operations before income taxes 647 658 539 1,305 1,054 Income taxes 139 136 116 275 225 Income (loss) from continuing operations 508 522 423 1,030 829 Income (loss) from discontinued operations, net of taxes 1 2 1 1 Net income (loss) 509 522 425 1,031 830 Less Net income (loss) attributable to noncontrolling interests Net income (loss) attributable to Key $ 509 $ 522 $ 425 $ 1,031 $ 830 Income (loss) from continuing operations attributable to Key common shareholders $ 472 $ 486 $ 387 $ 958 $ 757 Net income (loss) attributable to Key common shareholders 473 486 389 959 758 Per common share Income (loss) from continuing operations attributable to Key common shareholders $ .44 $ .45 $ .35 $ .89 $ .69 Income (loss) from discontinued operations, net of taxes Net income (loss) attributable to Key common shareholders (a) .44 .45 .35 .89 .69 Per common share assuming dilution Income (loss) from continuing operations attributable to Key common shareholders $ .44 $ .44 $ .35 $ .88 $ .69 Income (loss) from discontinued operations, net of taxes Net income (loss) attributable to Key common shareholders (a) .44 .44 $ .35 .88 .69 Cash dividends declared per common share $ .205 $ .205 $ .205 $ .41 $ .41 Weighted-average common shares outstanding (000) 1,071,229 1,084,277 1,100,033 1,077,977 1,098,453 Effect of common share options and other stock awards (b) 8,779 10,091 7,177 9,435 8,331 Weighted-average common shares and potential common shares outstanding (000) (c) 1,080,008 1,094,368 1,107,210 1,087,412 1,106,784 (a)Earnings per share may not foot due to rounding.(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share.(c)Assumes conversion of common share options and other stock awards and or convertible preferred stock, as applicable.