KeyBank 2014 Annual Report Download - page 109

Figure 45. Selected Quarterly Financial Data
2014 Quarters 2013 Quarters
dollars in millions, except per share amounts Fourth Third Second First Fourth Third Second First
FOR THE PERIOD
Interest income $ 646 $ 639 $ 639 $ 630 $ 649 $ 647 $ 657 $ 667
Interest expense 64 64 66 67 66 69 76 84
Net interest income 582 575 573 563 583 578 581 583
Provision (credit) for loan and lease losses 22 21 10 6 19 28 28 55
Noninterest income 490 417 455 435 453 459 429 425
Noninterest expense 704 704 689 662 712 716 711 681
Income (loss) from continuing operations before income taxes 346 267 329 330 305 293 271 272
Income (loss) from continuing operations attributable to Key 251 203 247 238 235 235 199 201
Income (loss) from discontinued operations, net of taxes (a) 2 (17) (28) 4 (5) 37 5 3
Net income (loss) attributable to Key 253 186 219 242 230 272 204 204
Income (loss) from continuing operations attributable to Key common
shareholders 246 197 242 232 229 229 193 196
Income (loss) from discontinued operations, net of taxes (a) 2 (17) (28) 4 (5) 37 5 3
Net income (loss) attributable to Key common shareholders 248 180 214 236 224 266 198 199
PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common
shareholders $ .29 $ .23 $ .28 $ .26 $ .26 $ .25 $ .21 $ .21
Income (loss) from discontinued operations, net of taxes (a) — (.02) (.03) — (.01) .04 .01 —
Net income (loss) attributable to Key common shareholders (b) .29 .21 .24 .27 .25 .29 .22 .22
Income (loss) from continuing operations attributable to Key common
shareholders — assuming dilution .28 .23 .27 .26 .26 .25 .21 .21
Income (loss) from discontinued operations, net of taxes — assuming
dilution (a) — (.02) (.03) — (.01) .04 .01 —
Net income (loss) attributable to Key common shareholders — assuming
dilution (b) .28 .21 .24 .26 .25 .29 .22 .21
Cash dividends paid .065 .065 .065 .055 .055 .055 .055 .05
Book value at period end 11.91 11.74 11.65 11.43 11.25 11.05 10.89 10.89
Tangible book value at period end 10.65 10.47 10.50 10.28 10.11 9.92 9.77 9.78
Market price:
High 14.18 14.62 14.59 14.70 13.55 12.63 11.09 10.19
Low 11.55 12.97 12.90 12.25 11.24 11.05 9.29 8.29
Close 13.90 13.33 14.33 14.24 13.42 11.40 11.04 9.96
Weighted-average common shares outstanding (000) 858,811 867,350 875,298 884,727 890,516 901,904 913,736 920,316
Weighted-average common shares and potential common shares
outstanding (000) (c) 886,186 874,122 902,137 891,890 897,712 908,253 918,628 926,051
AT PERIOD END
Loans $ 57,381 $ 56,155 $ 55,600 $ 55,445 $ 54,457 $ 53,597 $ 53,101 $ 52,574
Earning assets 82,269 78,310 78,457 77,692 79,467 77,085 76,717 75,066
Total assets 93,821 89,784 91,798 90,802 92,934 90,708 90,639 89,198
Deposits 71,998 68,456 67,799 67,266 69,262 68,535 67,721 64,654
Long-term debt 7,875 7,172 8,213 7,712 7,650 6,154 6,666 7,785
Key common shareholders’ equity 10,239 10,195 10,213 10,112 10,012 9,915 9,938 10,049
Key shareholders’ equity 10,530 10,486 10,504 10,403 10,303 10,206 10,229 10,340
PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS
Return on average total assets 1.12% .92% 1.14% 1.13% 1.08% 1.12% .95% .99 %
Return on average common equity 9.50 7.68 9.55 9.33 9.10 9.13 7.72 7.96
Return on average tangible common equity (d) 10.64 8.55 10.60 10.38 10.13 10.18 8.60 8.87
Net interest margin (TE) 2.94 2.96 2.98 3.00 3.01 3.11 3.13 3.24
Cash efficiency ratio (d) 64.4 69.5 65.8 64.9 67.4 67.5 69.1 66.0
PERFORMANCE RATIOS — FROM CONSOLIDATED
OPERATIONS
Return on average total assets 1.10% .81% .96% 1.09% 1.00% 1.22% .92% .94 %
Return on average common equity 9.58 7.01 8.44 9.50 8.90 10.61 7.92 8.08
Return on average tangible common equity (d) 10.72 7.81 9.37 10.56 9.91 11.82 8.82 9.01
Net interest margin (TE) 2.93 2.94 2.94 2.95 2.91 3.06 3.07 3.16
Loan to deposit (e) 84.6 87.4 87.1 87.5 83.8 83.8 83.6 86.9
CAPITAL RATIOS AT PERIOD END
Key shareholders’ equity to assets 11.22% 11.68% 11.44% 11.46% 11.09% 11.25% 11.29% 11.59 %
Key common shareholders’ equity to assets 10.91 11.36 11.13 11.14 10.78 10.94 10.96 11.27
Tangible common equity to tangible assets (d) 9.88 10.26 10.15 10.14 9.80 9.93 9.96 10.24
Tier 1 common equity (d) 11.17 11.26 11.25 11.27 11.22 11.17 11.18 11.40
Tier 1 risk-based capital 11.90 12.01 11.99 12.01 11.96 11.92 11.93 12.19
Total risk-based capital 13.89 14.10 14.14 14.23 14.33 14.37 14.65 15.02
Leverage 11.26 11.15 11.24 11.30 11.11 11.33 11.25 11.36
TRUST AND BROKERAGE ASSETS
Assets under management $ 39,157 $ 39,283 $ 39,669 $ 38,893 $ 36,905 $ 36,110 $ 35,544 $ 35,714
Nonmanaged and brokerage assets 49,147 48,273 48,728 47,396 47,418 38,525 37,759 37,115
OTHER DATA
Average full-time-equivalent employees 13,590 13,905 13,867 14,055 14,197 14,555 14,999 15,396
Branches 994 997 1,009 1,027 1,028 1,044 1,052 1,084
(a) In April 2009, we decided to wind down the operations of Austin, a subsidiary that specialized in managing hedge fund investments for
institutional customers. In September 2009, we decided to discontinue the education lending business conducted through Key Education
Resources, the education payment and financing unit of KeyBank. In February 2013, we decided to sell Victory to a private equity fund.
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