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.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20253/31/20256/30/2024
Assets
Loans$106,389 $104,809 $107,078 
Loans held for sale 530 811 517 
Securities available for sale40,669 40,751 37,460 
Held-to-maturity securities6,914 7,160 7,968 
Trading account assets1,374 1,296 1,219 
Short-term investments11,564 15,349 15,536 
Other investments1,058 1,050 1,259 
Total earning assets168,498 171,226 171,037 
Allowance for loan and lease losses(1,446)(1,429)(1,547)
Cash and due from banks1,766 1,909 1,326 
Premises and equipment599 602 631 
Goodwill2,752 2,752 2,752 
Other intangible assets18 22 41 
Corporate-owned life insurance4,423 4,404 4,382 
Accrued income and other assets8,654 8,958 8,532 
Discontinued assets235 247 296 
Total assets$185,499 $188,691 $187,450 
Liabilities
Deposits in domestic offices:
Interest-bearing deposits119,230 122,283 117,570 
Noninterest-bearing deposits27,675 28,454 28,150 
Total deposits146,905 150,737 145,720 
Federal funds purchased and securities sold under repurchase agreements 20 22 25 
Bank notes and other short-term borrowings2,754 2,328 5,292 
Accrued expense and other liabilities4,273 4,209 4,755 
Long-term debt12,063 12,392 16,869 
Total liabilities166,015 169,688 172,661 
Equity
Preferred stock2,500 2,500 2,500 
Common shares1,257 1,257 1,257 
Capital surplus5,971 5,946 6,185 
Retained earnings14,886 14,724 15,706 
Treasury stock, at cost(2,629)(2,637)(5,715)
Accumulated other comprehensive income (loss)(2,501)(2,787)(5,144)
Total equity19,484 19,003 14,789 
Total liabilities and equity$185,499 $188,691 $187,450 
Common shares outstanding (000)1,112,453 1,111,986 943,200 



Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
6/30/20253/31/20256/30/2024
Interest income
Loans$1,443 $1,401 $1,524 
Loans held for sale11 14 8 
Securities available for sale411 392 259 
Held-to-maturity securities61 63 73 
Trading account assets16 17 16 
Short-term investments157 174 192 
Other investments8 9 16 
Total interest income2,107 2,070 2,088 
Interest expense
Deposits730 753 817 
Federal funds purchased and securities sold under repurchase agreements4 1 1 
Bank notes and other short-term borrowings34 27 51 
Long-term debt198 193 332 
Total interest expense966 974 1,201 
Net interest income1,141 1,096 887 
Provision for credit losses138 118 100 
Net interest income after provision for credit losses1,003 978 787 
Noninterest income
Trust and investment services income146 139 139 
Investment banking and debt placement fees178 175 126 
Service charges on deposit accounts73 69 66 
Operating lease income and other leasing gains14 9 21 
Corporate services income76 65 68 
Cards and payments income85 82 85 
Corporate-owned life insurance income32 33 34 
Consumer mortgage income15 13 16 
Commercial mortgage servicing fees70 76 61 
Other income1 7 21 
Net securities gains (losses)— — (10)
Total noninterest income690 668 627 
Noninterest expense
Personnel705 680 636 
Net occupancy69 67 66 
Computer processing107 107 101 
Business services and professional fees48 40 37 
Equipment21 20 20 
Operating lease expense10 11 17 
Marketing24 21 21 
Intangible asset amortization— — — 
Other expense170 185 181 
Total noninterest expense1,154 1,131 1,079 
Income (loss) from continuing operations before income taxes539 515 335 
Income taxes116 109 62 
Income (loss) from continuing operations423 406 273 
Income (loss) from discontinued operations, net of taxes2 (1)1 
Net income (loss)425 405 274 
Less: Net income (loss) attributable to noncontrolling interests— — — 
Net income (loss) attributable to Key$425 $405 $274 
Income (loss) from continuing operations attributable to Key common shareholders$387 $370 $237 
Net income (loss) attributable to Key common shareholders389 369 238 
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.35 $.34 $.25 
Income (loss) from discontinued operations, net of taxes— — — 
Net income (loss) attributable to Key common shareholders (a)
.35 .34 .25 
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.35 $.33 $.25 
Income (loss) from discontinued operations, net of taxes— — — 
Net income (loss) attributable to Key common shareholders (a)
.35 .33 $.25 
Cash dividends declared per common share$.205 $.205 $.205 
Weighted-average common shares outstanding (000)1,100,033 1,096,654 931,726 
Effect of common share options and other stock awards (b)
7,177 9,486 6,761 
Weighted-average common shares and potential common shares outstanding (000) (c)
1,107,210 1,106,140 938,487 
(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.