EX-99.34a4q25erex993.htmEX-99.3 Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/2025
9/30/2025
12/31/2024
Assets
Loans
$
106,541
$
105,902
$
104,260
Loans held for sale
1,077
998
797
Securities available for sale
39,596
40,456
37,707
Held-to-maturity securities
8,622
7,509
7,395
Trading account assets
1,061
972
1,283
Short-term investments
10,163
13,334
17,504
Other investments
949
921
1,041
Total earning assets
168,009
170,092
169,987
Allowance for loan and lease losses
(1,427)
(1,444)
(1,409)
Cash and due from banks
1,287
1,938
1,743
Premises and equipment
628
606
614
Goodwill
2,752
2,752
2,752
Other intangible assets
8
13
27
Corporate-owned life insurance
4,432
4,428
4,394
Accrued income and other assets
8,481
8,803
8,797
Discontinued assets
211
221
263
Total assets
$
184,381
$
187,409
$
187,168
Liabilities
Deposits in domestic offices:
Interest-bearing deposits
121,100
122,425
120,132
Noninterest-bearing deposits
27,613
28,340
29,628
Total deposits
148,713
150,765
149,760
Federal funds purchased and securities sold under repurchase agreements
13
10
14
Bank notes and other short-term borrowings
1,071
1,339
2,130
Accrued expense and other liabilities
4,286
4,276
4,983
Long-term debt
9,917
10,917
12,105
Total liabilities
164,000
167,307
168,992
Equity
Preferred stock
2,500
2,500
2,500
Common shares
1,257
1,257
1,257
Capital surplus
6,035
6,002
6,038
Retained earnings
15,359
15,111
14,584
Treasury stock, at cost
(2,810)
(2,619)
(2,733)
Accumulated other comprehensive income (loss)
(1,960)
(2,149)
(3,470)
Total equity
20,381
20,102
18,176
Total liabilities and equity
$
184,381
$
187,409
$
187,168
Common shares outstanding (000)
1,102,401
1,112,952
1,106,786
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
Twelve months ended
12/31/2025
9/30/2025
12/31/2024
12/31/2025
12/31/2024
Interest income
Loans
$
1,439
$
1,466
$
1,448
$
5,749
$
6,026
Loans held for sale
18
18
20
61
60
Securities available for sale
388
408
353
1,599
1,142
Held-to-maturity securities
76
64
66
264
284
Trading account assets
12
11
16
56
61
Short-term investments
137
156
214
624
792
Other investments
8
8
15
33
62
Total interest income
2,078
2,131
2,132
8,386
8,427
Interest expense
Deposits
688
748
821
2,919
3,307
Federal funds purchased and securities sold under repurchase agreements
4
4
1
13
4
Bank notes and other short-term borrowings
9
14
24
84
164
Long-term debt
162
181
235
734
1,187
Total interest expense
863
947
1,081
3,750
4,662
Net interest income
1,215
1,184
1,051
4,636
3,765
Provision for credit losses
108
107
39
471
335
Net interest income after provision for credit losses
1,107
1,077
1,012
4,165
3,430
Noninterest income
Trust and investment services income
156
150
142
591
557
Investment banking and debt placement fees
243
184
221
780
688
Service charges on deposit accounts
78
75
65
295
261
Operating lease income and other leasing gains
9
11
15
43
76
Corporate services income
81
72
69
294
275
Cards and payments income
84
86
85
337
331
Corporate-owned life insurance income
40
35
36
140
138
Consumer mortgage income
16
14
16
58
58
Commercial mortgage servicing fees
68
73
68
287
258
Other income
7
8
(5)
23
23
Net securities gains (losses)
—
(6)
(908)
(6)
(1,856)
Total noninterest income
782
702
(196)
2,842
809
Noninterest expense
Personnel
790
742
734
2,917
2,714
Net occupancy
69
65
67
270
266
Computer processing
106
105
107
425
414
Business services and professional fees
61
44
55
193
174
Equipment
22
20
20
83
80
Operating lease expense
8
9
15
38
63
Marketing
28
22
33
95
94
Intangible asset amortization
—
—
—
—
—
Other expense
157
170
198
682
740
Total noninterest expense
1,241
1,177
1,229
4,703
4,545
Income (loss) from continuing operations before income taxes
648
602
(413)
2,304
(306)
Income taxes
139
112
(169)
476
(143)
Income (loss) from continuing operations
509
490
(244)
1,828
(163)
Income (loss) from discontinued operations, net of taxes
1
(1)
—
1
2
Net income (loss)
510
489
(244)
1,829
(161)
Less: Net income (loss) attributable to noncontrolling interests
—
—
—
—
—
Net income (loss) attributable to Key
$
510
$
489
$
(244)
$
1,829
$
(161)
Income (loss) from continuing operations attributable to Key common shareholders
$
474
$
454
$
(279)
$
1,685
$
(306)
Net income (loss) attributable to Key common shareholders
475
453
(279)
1,686
(304)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders
$
.43
$
.41
$
(.28)
$
1.53
$
(.32)
Income (loss) from discontinued operations, net of taxes
—
—
—
—
—
Net income (loss) attributable to Key common shareholders (a)
.43
.41
(.28)
1.53
(.32)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders
$
.43
$
.41
$
(.28)
$
1.52
$
(.32)
Income (loss) from discontinued operations, net of taxes
—
—
—
—
—
Net income (loss) attributable to Key common shareholders (a)
.43
.41
$
(.28)
1.52
(.32)
Cash dividends declared per common share
$
.205
$
.205
$
.205
$
.82
$
.82
Weighted-average common shares outstanding (000)
1,095,171
1,100,830
986,829
1,098,558
949,561
Effect of common share options and other stock awards (b)
11,152
9,845
—
9,436
—
Weighted-average common shares and potential common shares outstanding (000) (c)
1,106,323
1,110,675
986,829
1,107,994
949,561
(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