KeyBank 2010 Annual Report Download

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2010 Annual Review
top-rated service drives
long-term success

Table of contents

  • Page 1
    2010 Annual Review top-rated service drives long-term success

  • Page 2

  • Page 3
    ... -Henry Meyer 2 3 12 14 16 17 18 19 19 20 Consolidated Statements of Cash Flows Board of Directors Management Committee Investor Relations and shareholder information KeyCorp trades under the symbol KEY and is proud to meet the listing requirements of the NYSE, the world's leading equities market...

  • Page 4
    ... dividends paid Book value at year-end Tangible book value at year-end Market price at year-end Weighted-average common shares outstanding (000) Weighted-average common shares and potential common shares outstanding (000) AT DECEMBER 31, Loans Earning assets Total assets Deposits Key shareholders...

  • Page 5
    ... of total loans at year-end 2010, representing 150 percent of nonperforming loans. In November, Key announced that Chairman and Chief Executive Officer Henry Meyer would retire from those positions on May 1, 2011, and be succeeded by Vice Chair Beth Mooney. The Board of Directors elected Mooney...

  • Page 6
    ..., and the company's successful emergence from the Great Recession. Questions are a compilation of those asked most frequently by shareholders, analysts, employees, news media and community leaders. The interview took place in March 2011. Key and the Industry in 2010 Henry, how would you broadly...

  • Page 7
    ...000 100% $1,000 50% $0 0.00% 0% 4Q09 1Q10 2Q10 3Q10 4Q10 4Q09 1Q10 2Q10 3Q10 4Q10 Allowance for loan and lease losses ALLL to period-end loans Allowance to nonperforming loans Strong Capital Tier 1 Common Equity 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 5.00% 0.00% Tier 1 Risk-Based...

  • Page 8
    ... regional bank has a relationship-focused Community Bank coupled with the capabilities and industry expertise found in our Corporate Bank. The breadth of Key's products and expertise is a competitive advantage. Aligning our business groups and executing, day in and day out, is the goal. CEO-elect...

  • Page 9
    ... in strategy development over recent years. (See accompanying article on Beth Mooney beginning on page 12.) Would you share more of your observations about Beth? I recruited Beth to Key in 2006 to head our Community Banking organization, and she immediately demonstrated her leadership capabilities...

  • Page 10
    ... Capital Purchase Program? Is an increase in Key's dividend likely in 2011? On March 18, 2011, we announced our plan to repurchase the $2.5 billion of preferred shares held by the U.S. Treasury. Those steps included a public offering of approximately $625 million in Key common stock, a $1.0 billion...

  • Page 11
    ... the Community Bank in 2010? We opened more than 300,000 new checking accounts in 2010, and benefited from a 50 percent increase in new business in Investment Management and Trust Services. Our Business Banking (small business) group added 1,200 new clients and the Middle Market group added more...

  • Page 12
    ... loan syndications, and added 90 new issuer clients during the year. Our Real Estate Capital group has successfully refocused its business mix, largely exiting the homebuilder category to focus on mid-cap REITs, funds, owners, and healthcare owners/operators. Key ranked first for REIT IPOs in 2010...

  • Page 13
    ... the U.S. economy. Are there any changes on the Board of Directors? During 2010, we added several new Directors - Betsy Gile, retired Managing Director at Deutsche Bank AG; Barbara Snyder, President of Case Western Reserve University; and Ed Stack, Chairman and CEO of Dick's Sporting Goods, Inc. In...

  • Page 14
    When KeyCorp's Board of Directors set out to name Henry Meyer's successor, they had three executive attributes in mind: banker, builder, problem solver. In Beth Mooney, they found that leader. A business-oriented career banker who has been the architect of Key's community banking strategy. 12

  • Page 15
    ... relationships through local leadership teams who serve a full spectrum of clients - from consumers to small business and corporate clients. KeyCorp's soon-to-be Chairman and CEO has a rich 30-year background in retail banking, commercial lending and real estate financing. Before she came to Key...

  • Page 16
    ... $10.3 $15.9 Great Lakes 346 544 $6.6 $16.1 Northeast 302 433 $5.6 $14.8 Includes offices in these states and all Community Banking regions Key Corporate Bank Loan and deposit figures are average balances, in billions, for the year ended December 31, 2010. KeyCorp Honors s Key has earned seven...

  • Page 17
    ...and portfolio management, insurance, charitable giving and related needs. Business units include: Retail Banking, Business Banking, Private Banking, Key Investment Services, KeyBank Mortgage and Key AutoFinance. Clients enjoy access to services through a network of 1,033 branches, 1,531 ATMs, state...

  • Page 18
    ... share data) ASSETS Cash and due from banks Short-term investments Trading account assets Securities available for sale Held-to-maturity securities (fair value: $17 and $24) Other investments Loans, net of unearned income of $1,572 and $1,770 Less: Allowance for loan and lease losses Net loans Loans...

  • Page 19
    ... and investment services income Service charges on deposit accounts Operating lease income Letter of credit and loan fees Corporate-owned life insurance income Net securities gains (losses) (a) Electronic banking fees Gains on leased equipment Insurance income Net gains (losses) from loan sales Net...

  • Page 20
    ... of common shares Tax benefits over (under) recognized compensation cost for stock-based awards Cash dividends paid NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS CASH AND DUE FROM BANKS AT BEGINNING OF YEAR CASH AND DUE FROM BANKS AT END...

  • Page 21
    ... R. Gile Retired Managing Director Deutsche Bank AG Ruth Ann M. Gillis Executive Vice President Exelon Corporation President Exelon Business Services Company Kristen L. Manos Partner Sanderson Berry Company Eduardo R. Menascé* Retired President Verizon Enterprise Solutions Group Henry L. Meyer III...

  • Page 22
    ... management's quarterly earnings discussions. Home | Sign On | Careers | Bank Locations | Customer Service | About Key Search: Enter Keyword Go PERSONAL BANKING Facts About Us | BUSINESS BANKING ៉ Investor Relations | CORPORATE BANKING Newsroom | PRIVATE BANKING Careers at Key IR Site Map...

  • Page 23
    ... for this annual review are all certified by the Rainforest Alliance's SmartWood program for meeting the strict standards of the Forest Stewardship Council (FSC), which promotes environmentally appropriate, socially beneficial and economically viable management of the world's forests. C Printed on...

  • Page 24
    ... financing strategies to help you take your business wherever you want it to go. We help you get the funds to buy a new building or renovate existing space, pay for new equipment or upgrade technology. We also help protect against fraud, manage your cash ï¬,ow and make sure your payroll is always...