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.3
Consolidated Balance Sheets
(dollars in millions)
9/30/20266/30/20269/30/2025
Assets
Loans$112,993 $110,430 $105,902 
Loans held for sale 1,159 1,198 998 
Securities available for sale36,311 38,459 40,456 
Held-to-maturity securities9,612 9,515 7,509 
Trading account assets925 936 972 
Short-term investments12,973 12,416 13,334 
Other investments1,281 1,230 921 
Total earning assets175,254 174,184 170,092 
Allowance for loan and lease losses(1,398)(1,445)(1,444)
Cash and due from banks1,540 1,711 1,938 
Premises and equipment636 620 606 
Goodwill2,803 2,752 2,752 
Other intangible assets11 3 13 
Corporate-owned life insurance4,461 4,456 4,428 
Accrued income and other assets9,617 8,848 8,803 
Discontinued assets178 188 221 
Total assets$193,102 $191,317 $187,409 
Liabilities
Deposits in domestic offices:
Interest-bearing deposits125,594 122,196 122,425 
Noninterest-bearing deposits28,220 30,893 28,340 
Total deposits153,814 153,089 150,765 
Federal funds purchased and securities sold under repurchase agreements 49 5 10 
Bank notes and other short-term borrowings5,185 3,680 1,339 
Accrued expense and other liabilities4,772 3,778 4,276 
Long-term debt11,473 10,967 10,917 
Total liabilities175,293 171,519 167,307 
Equity
Preferred stock1,975 2,500 2,500 
Common shares1,257 1,257 1,257 
Capital surplus6,057 6,014 6,002 
Retained earnings16,194 15,873 15,111 
Treasury stock, at cost(3,809)(3,492)(2,619)
Accumulated other comprehensive income (loss)(3,865)(2,354)(2,149)
Total equity17,809 19,798 20,102 
Total liabilities and equity$193,102 $191,317 $187,409 
Common shares outstanding (000)1,058,176 1,072,035 1,112,952 



Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedNine months ended
9/30/20266/30/20269/30/20259/30/20269/30/2025
Interest income
Loans$1,511 $1,463 $1,466 $4,390 $4,310 
Loans held for sale22 15 18 51 43 
Securities available for sale373 367 408 1,110 1,211 
Held-to-maturity securities98 95 64 279 188 
Trading account assets12 10 11 33 44 
Short-term investments107 101 156 311 487 
Other investments10 8 8 23 25 
Total interest income2,133 2,059 2,131 6,197 6,308 
Interest expense
Deposits634 600 748 1,832 2,231 
Federal funds purchased and securities sold under repurchase agreements11 19 4 44 9 
Bank notes and other short-term borrowings25 35 14 80 75 
Long-term debt163 155 181 469 572 
Total interest expense833 809 947 2,425 2,887 
Net interest income1,300 1,250 1,184 3,772 3,421 
Provision for credit losses61 92 107 259 363 
Net interest income after provision for credit losses1,239 1,158 1,077 3,513 3,058 
Noninterest income
Trust and investment services income165 159 150 481 435 
Investment banking and debt placement fees214 169 184 580 537 
Service charges on deposit accounts79 77 75 233 217 
Operating lease income and other leasing gains9 10 11 27 34 
Corporate services income72 80 72 223 213 
Cards and payments income93 94 86 273 253 
Corporate-owned life insurance income35 33 35 102 100 
Consumer mortgage income14 17 14 44 42 
Commercial mortgage servicing fees53 49 73 164 219 
Other income9 15 8 42 16 
Net securities gains (losses)1 3 (6)4 (6)
Total noninterest income744 706 702 2,173 2,060 
Noninterest expense
Personnel815 786 742 2,344 2,127 
Net occupancy67 68 65 203 201 
Computer processing116 108 105 335 319 
Business services and professional fees46 46 44 128 132 
Equipment21 22 20 62 61 
Operating lease expense6 7 9 20 30 
Marketing23 22 22 63 67 
Other expense151 158 170 488 525 
Total noninterest expense1,245 1,217 1,177 3,643 3,462 
Income (loss) from continuing operations before income taxes738 647 602 2,043 1,656 
Income taxes159 139 112 434 337 
Income (loss) from continuing operations579 508 490 1,609 1,319 
Income (loss) from discontinued operations, net of taxes— 1 (1)1 — 
Net income (loss)579 509 489 1,610 1,319 
Less: Net income (loss) attributable to noncontrolling interests— — — — — 
Net income (loss) attributable to Key$579 $509 $489 $1,610 $1,319 
Income (loss) from continuing operations attributable to Key common shareholders$537 $472 $454 $1,495 $1,211 
Net income (loss) attributable to Key common shareholders537 473 453 1,496 1,211 
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.51 $.44 $.41 $1.39 $1.1 
Income (loss) from discontinued operations, net of taxes— — — — — 
Net income (loss) attributable to Key common shareholders (a)
.51 .44 .41 1.39 1.1 
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.51 $.44 $.41 $1.39 $1.09 
Income (loss) from discontinued operations, net of taxes— — — — — 
Net income (loss) attributable to Key common shareholders (a)
.51 .44 $.41 1.39 1.09 
Cash dividends declared per common share$.205 $.205 $.205 $.615 $.615 
Weighted-average common shares outstanding (000)1,054,951 1,071,229 1,100,830 1,070,808 1,099,520 
Effect of common share options and other stock awards (b)
9,315 8,779 9,845 9,395 8,864 
Weighted-average common shares and potential common shares outstanding (000) (c)
1,064,266 1,080,008 1,110,675 1,080,203 1,108,384 
(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.