KeyBank 2007 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2007 KeyBank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

dollars in millions, except per share amounts 2007 2006 2005 2004 2003
YEAR ENDED DECEMBER 31,
Total revenue $4,998 $4,942 $4,723 $4,381 $4,506
Noninterest expense 3,248 3,149 3,054 2,884 2,816
Provision for loan losses 529 150 143 185 498
Income from continuing operations before
cumulative effect of accounting change 941 1,193 1,090 907 872
Net income 919 1,055 1,129 954 903
PER COMMON SHARE
Income from continuing operations before
cumulative effect of accounting change $2.40$2.95$2.67$2.21$2.06
Net income 2.35 2.61 2.76 2.32 2.14
Income from continuing operations before
cumulative effect of accounting change
–assuming dilution 2.38 2.91 2.63 2.18 2.05
Net income–assuming dilution 2.32 2.57 2.73 2.30 2.12
Cash dividends paid 1.46 1.38 1.30 1.24 1.22
Book value at year end 19.92 19.30 18.69 17.46 16.73
Market price at year end 23.45 38.03 32.93 33.90 29.32
Weighted average common shares (000) 392,013 404,490 408,981 410,585 422,776
Weighted average common shares
and potential common shares (000) 395,823 410,222 414,014 415,430 426,157
AT DECEMBER 31,
Loans $70,823 $ 65,826 $ 66,478 $ 63,372 $ 59,754
Earning assets 86,841 80,090 80,143 78,140 72,560
Total assets 99,983 92,337 93,126 90,747 84,498
Deposits 63,099 59,116 58,765 57,842 50,858
Total shareholders’ equity 7,746 7,703 7,598 7,117 6,969
Common shares outstanding (000) 388,793 399,153 406,624 407,570 416,494
PERFORMANCE RATIOS
From continuing operations:
Return on average total assets .99% 1.30% 1.24% 1.09% 1.07%
Return on average equity 12.19 15.43 14.88 13.07 12.63
Net interest margin (taxable equivalent) 3.46 3.67 3.65 3.62 3.73
From consolidated operations:
Return on average total assets .97% 1.12% 1.24% 1.10% 1.07%
Return on average equity 11.90 13.64 15.42 13.75 13.08
Net interest margin (taxable equivalent) 3.46 3.69 3.69 3.63 3.78
KeyCorp Board of Directors
RALPH ALVAREZ
President and Chief Operating Officer
McDonald’s Corporation
WILLIAM G. BARES
Retired Chairman and Chief Executive Officer
The Lubrizol Corporation
EDWARD P. CAMPBELL
Chairman and Chief Executive Officer
Nordson Corporation
DR. CAROL A. CARTWRIGHT
President Emeritus
Kent State University
ALEXANDER M. CUTLER
Chairman and Chief Executive Officer
Eaton Corporation
H. JAMES DALLAS
Senior Vice President and Chief Information Officer
Medtronic, Inc.
CHARLES R. HOGAN
President and Chief Executive Officer
Citation Management Group, Inc.
LAURALEE E. MARTIN
Chief Operating and Financial Officer
Jones Lang LaSalle, Inc.
EDUARDO R. MENASCÉ
Retired President
Verizon Enterprise Solutions Group
HENRY L. MEYER III
Chairman and Chief Executive Officer
KeyCorp
BILL R. SANFORD
Chairman
SYMARK LLC
THOMAS C. STEVENS
Vice Chair and Chief Administrative Officer
KeyCorp
PETER G. TEN EYCK, II
President
Indian Ladder Farms
FINANCIAL HIGHLIGHTS
KeyCorp, whose roots date to 1825, is one of
America’s largest bank-based financial services
companies. The company’s strong relationship
orientation is expressed best by its mission:
“to be our clients’ trusted advisor.”
2007 KeyCorp Annual Report
HENRY L. MEYER III
Chairman and Chief Executive Officer
THOMAS W. BUNN
Vice Chair, National Banking
KAREN R. HAEFLING
Chief Marketing and Communications Officer
PAUL N. HARRIS
General Counsel
THOMAS E. HELFRICH
Chief Human Resources Officer
CHARLES S. HYLE
Chief Risk Officer
BETH E. MOONEY
Vice Chair, Community Banking
THOMAS C. STEVENS
Vice Chair and Chief Administrative Officer
JEFFREY B. WEEDEN
Chief Financial Officer
STEPHEN E. YATES
Chief Information Officer
KeyCorp Management Committee