KeyBank 2014 Annual Report Download - page 45

Figure 1. Selected Financial Data
dollars in millions, except per share amounts 2014 2013 2012 2011 2010 (a)
Compound
Annual
Rate
of Change
(2010-2014)
YEAR ENDED DECEMBER 31,
Interest income $ 2,554 $ 2,620 $ 2,705 $ 2,889 $ 3,408 (5.6)%
Interest expense 261 295 441 622 897 (21.9)
Net interest income 2,293 2,325 2,264 2,267 2,511 (1.8)
Provision (credit) for loan and lease losses 59 130 229 (60) 638 (37.9)
Noninterest income 1,797 1,766 1,856 1,688 1,954 (1.7)
Noninterest expense 2,759 2,820 2,818 2,684 3,034 (1.9)
Income (loss) from continuing operations before income taxes 1,272 1,141 1,073 1,331 793 9.9
Income (loss) from continuing operations attributable to Key 939 870 835 955 577 10.2
Income (loss) from discontinued operations, net of taxes (b) (39) 40 23 (35) (23) N/M
Net income (loss) attributable to Key 900 910 858 920 554 10.2
Income (loss) from continuing operations attributable to Key common shareholders 917 847 813 848 413 17.3
Income (loss) from discontinued operations, net of taxes (b) (39) 40 23 (35) (23) N/M
Net income (loss) attributable to Key common shareholders 878 887 836 813 390 17.6
PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common shareholders $ 1.05 $ .93 $ .87 $ .91 $ .47 17.4%
Income (loss) from discontinued operations, net of taxes (b) (.04) .04 .02 (.04) (.03) N/M
Net income (loss) attributable to Key common shareholders (c) 1.01 .98 .89 .87 .45 17.5
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution $ 1.04 $ .93 $ .86 $ .91 $ .47 17.2%
Income (loss) from discontinued operations, net of taxes — assuming dilution (b) (.04) .04 .02 (.04) (.03) N/M
Net income (loss) attributable to Key common shareholders — assuming dilution (c) .99 .97 .89 .87 .44 17.6
Cash dividends paid .25 .215 .18 .10 .04 44.3%
Book value at year end 11.91 11.25 10.78 10.09 9.52 4.6
Tangible book value at year end 10.65 10.11 9.67 9.11 8.45 4.7
Market price at year end 13.90 13.42 8.42 7.69 8.85 9.4
Dividend payout ratio 24.8% 21.9% 20.2% 11.49% 8.89% N/A
Weighted-average common shares outstanding (000) 871,464 906,524 938,941 931,934 874,748 (.1)
Weighted-average common shares and potential common shares outstanding (000) (d) 878,199 912,571 943,259 935,801 878,153 —
AT DECEMBER 31.
Loans $ 57,381 $ 54,457 $ 52,822 $ 49,575 $ 50,107 2.7%
Earning assets 82,269 79,467 75,055 73,729 76,211 1.5
Total assets 93,821 92,934 89,236 88,785 91,843 .4
Deposits 71,998 69,262 65,993 61,956 60,610 3.5
Long-term debt 7,875 7,650 6,847 9,520 10,592 (5.8)
Key common shareholders’ equity 10,239 10,012 9,980 9,614 8,380 4.1
Key shareholders’ equity 10,530 10,303 10,271 9,905 11,117 (1.1)
PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS
Return on average total assets 1.08% 1.03% 1.03% 1.16% .66% N/A
Return on average common equity 9.01 8.48 8.25 9.17 5.06 N/A
Return on average tangible common equity (e) 10.04 9.45 9.16 10.20 5.73 N/A
Net interest margin (TE) 2.97 3.12 3.21 3.16 3.26 N/A
Cash efficiency ratio (e) 66.1 67.5 67.4 67.3 67.3 N/A
PERFORMANCE RATIOS — FROM CONSOLIDATED OPERATIONS
Return on average total assets .99% 1.02% .99% 1.04% .59% N/A
Return on average common equity 8.63 8.88 8.48 8.79 4.78 N/A
Return on average tangible common equity (e) 9.61 9.90 9.42 9.78 5.41 N/A
Net interest margin (TE) 2.94 3.02 3.13 3.09 3.16 N/A
Loan to deposit (f) 84.6 83.8 85.8 87.0 90.3 N/A
CAPITAL RATIOS AT DECEMBER 31,
Key shareholders’ equity to assets 11.22% 11.09% 11.51% 11.16% 12.10% N/A
Key common shareholders’ equity to assets 10.91 10.78 11.18 10.83 9.12 N/A
Tangible common equity to tangible assets (e) 9.88 9.80 10.15 9.88 8.19 N/A
Tier 1 common equity (e) 11.17 11.22 11.36 11.26 9.34 N/A
Tier 1 risk-based capital 11.90 11.96 12.15 12.99 15.16 N/A
Total risk-based capital 13.89 14.33 15.13 16.51 19.12 N/A
Leverage 11.26 11.11 11.41 11.79 13.02 N/A
TRUST AND BROKERAGE ASSETS
Assets under management $ 39,157 $ 36,905 $ 34,744 $ 51,732 $ 59,815 N/A
Nonmanaged and brokerage assets 49,147 47,418 35,550 30,639 28,069 N/A
OTHER DATA
Average full-time-equivalent employees 13,853 14,783 15,589 15,381 15,610 (2.4)%
Branches 994 1,028 1,088 1,058 1,033 (.8)
(a) Financial data was not adjusted to reflect the treatment of Victory as a discontinued operation.
(b) 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.
As a result of these decisions, we have accounted for these businesses as discontinued operations. For further discussion regarding the
income (loss) from discontinued operations, see Note 13 (“Acquisitions and Discontinued Operations”).
(c) EPS may not foot due to rounding.
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