EX-99.34a2q26erex993.htmEX-99.3 Document
Exhibit 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.
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Source: SEC EDGAR · public domain · Highlights by Palanor