KeyBank 2014 Annual Report Download - page 81

At December 31, 2014, Key had $2.6 billion in time deposits of $100,000 or more. Figure 26 shows the maturity
distribution of these deposits.
Figure 26. Maturity Distribution of Time Deposits of $100,000 or More
December 31, 2014
in millions
Domestic
Offices
Foreign
Offices Total
Remaining maturity:
Three months or less $ 400 $ 564 $ 964
After three through six months 197 — 197
After six through twelve months 447 — 447
After twelve months 996 — 996
Total $ 2,040 $ 564 $ 2,604
Capital
At December 31, 2014, our shareholders’ equity was $10.5 billion, up $227 million from December 31, 2013.
The following sections discuss certain factors that contributed to this change. For other factors that contributed to
the change, see the Consolidated Statements of Changes in Equity.
CCAR and capital actions
As part of its ongoing supervisory process, the Federal Reserve requires BHCs like KeyCorp to submit an annual
comprehensive capital plan and to update that plan to reflect material changes in the BHC’s risk profile, business
strategies, or corporate structure, including but not limited to changes in planned capital actions. In January 2014,
we submitted to the Federal Reserve and provided to the OCC our 2014 capital plan under the annual CCAR
process. On March 26, 2014, the Federal Reserve announced that it did not object to our 2014 capital plan. The
2014 capital plan includes a common share repurchase program of up to $542 million. Share repurchases under
the capital plan began in the second quarter of 2014 and include repurchases to offset issuances of common
shares under our employee compensation plans. Common share repurchases under the 2014 capital plan are
expected to be executed through the first quarter of 2015.
Through the fourth quarter of 2014, we repurchased $355 million of common shares under our 2014 capital plan
authorization. During the first quarter of 2014, we completed $141 million of common shares under our 2013
capital plan authorization.
Dividends
As previously reported, our 2014 capital plan also proposed an increase in our quarterly common share dividend
from $.055 to $.065 per share, which was approved by our Board of Directors in May 2014. Other changes to future
dividends may be evaluated by the Board based upon our earnings, financial condition, and other factors, including
regulatory review. Further information regarding the capital planning process and CCAR is included in the
“Supervision and Regulation” section of Item 1 of this report under the heading “Regulatory capital and liquidity.”
Consistent with the 2014 capital plan, we made a dividend payment of $.065 per share on our common shares
during each of the second, third, and fourth quarters of 2014, totaling $169 million, and a dividend payment of
$.055 per share, or $49 million, during the first quarter of 2014.
We also made four quarterly dividend payments of $1.9375 per share totaling $22 million on our Series A
Preferred Stock during 2014.
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