KeyBank 2015 Annual Report Download - page 114

Figure 45. Selected Quarterly Financial Data
2015 Quarters 2014 Quarters
dollars in millions, except per share amounts Fourth Third Second First Fourth Third Second First
FOR THE PERIOD
Interest income $ 673 $ 661 $ 652 $ 636 $ 646 $ 639 $ 639 $ 630
Interest expense 71 70 68 65 64 64 66 67
Net interest income 602 591 584 571 582 575 573 563
Provision for credit losses 45 45 41 35 22 19 12 4
Noninterest income 485 470 488 437 490 417 455 435
Noninterest expense 736 724 711 669 704 706 687 664
Income (loss) from continuing operations before income taxes 306 292 320 304 346 267 329 330
Income (loss) from continuing operations attributable to Key 230 222 235 228 251 203 247 238
Income (loss) from discontinued operations, net of taxes (a) (4) (3) 3 5 2 (17) (28) 4
Net income (loss) attributable to Key 226 219 238 233 253 186 219 242
Income (loss) from continuing operations attributable to Key common
shareholders 224 216 230 222 246 197 242 232
Income (loss) from discontinued operations, net of taxes (a) (4) (3) 3 5 2 (17) (28) 4
Net income (loss) attributable to Key common shareholders 220 213 233 227 248 180 214 236
PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common
shareholders $ .27 $ .26 $ .27 $ .26 $ .29 $ .23 $ .28 $ .26
Income (loss) from discontinued operations, net of taxes (a) (.01) — — .01 — (.02) (.03) —
Net income (loss) attributable to Key common shareholders (b) .27 .26 .28 .27 .29 .21 .24 .27
Income (loss) from continuing operations attributable to Key common
shareholders — assuming dilution $ .27 $ .26 $ .27 $ .26 $ .28 $ .23 $ .27 $ .26
Income (loss) from discontinued operations, net of taxes — assuming
dilution (a) (.01) — — .01 — (.02) (.03) —
Net income (loss) attributable to Key common shareholders — assuming
dilution (b) .26 .25 .27 .26 .28 .21 .24 .26
Cash dividends paid .075 .075 .075 .065 .065 .065 .065 .055
Book value at period end 12.51 12.47 12.21 12.12 11.91 11.74 11.65 11.43
Tangible book value at period end 11.22 11.17 10.92 10.84 10.65 10.47 10.50 10.28
Market price:
High 14.01 15.46 15.70 14.74 14.18 14.62 14.59 14.70
Low 12.37 12.65 13.90 12.04 11.55 12.97 12.90 12.25
Close 13.19 13.01 15.02 14.16 13.90 13.33 14.33 14.24
Weighted-average common shares outstanding (000) 828,206 831,430 839,454 848,580 858,811 867,350 875,298 884,727
Weighted-average common shares and potential common shares
outstanding (000) (c) 835,939 838,880 846,312 857,122 886,186 874,122 902,137 891,890
AT PERIOD END
Loans $ 59,876 $ 60,085 $ 58,264 $ 57,953 $ 57,381 $ 56,155 $ 55,600 $ 55,445
Earning assets 83,780 83,779 82,964 82,624 82,269 78,130 78,457 77,692
Total assets 95,133 95,422 94,606 94,206 93,821 89,784 91,798 90,802
Deposits 71,046 71,073 70,669 71,622 71,998 68,456 67,799 67,266
Long-term debt 10,186 10,310 10,267 8,713 7,875 7,172 8,213 7,712
Key common shareholders’ equity 10,456 10,415 10,300 10,313 10,239 10,195 10,213 10,112
Key shareholders’ equity 10,746 10,705 10,590 10,603 10,530 10,486 10,504 10,403
PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS
Return on average total assets .97% .95% 1.03% 1.03% 1.12% .92% 1.14% 1.13 %
Return on average common equity 8.51 8.30 8.96 8.76 9.50 7.68 9.55 9.33
Return on average tangible common equity (d) 9.50 9.27 10.01 9.80 10.64 8.55 10.60 10.38
Net interest margin (TE) 2.87 2.87 2.88 2.91 2.94 2.96 2.98 3.00
Cash efficiency ratio (d) 66.4 66.9 65.1 65.1 64.4 69.7 65.6 65.1
PERFORMANCE RATIOS — FROM CONSOLIDATED
OPERATIONS
Return on average total assets .93% .92% 1.02% 1.03% 1.10% .81% .96% 1.09 %
Return on average common equity 8.36 8.19 9.07 8.96 9.58 7.01 8.44 9.50
Return on average tangible common equity (d) 9.33 9.14 10.14 10.02 10.72 7.81 9.37 10.56
Net interest margin (TE) 2.84 2.84 2.85 2.88 2.93 2.94 2.94 2.95
Loan to deposit (e) 87.8 89.3 87.3 86.9 84.6 87.4 87.1 87.5
CAPITAL RATIOS AT PERIOD END
Key shareholders’ equity to assets 11.30% 11.22% 11.19% 11.26% 11.22% 11.68% 11.44% 11.46 %
Key common shareholders’ equity to assets 10.99 10.91 10.89 10.95 10.91 11.36 11.13 11.14
Tangible common equity to tangible assets (d) 9.98 9.90 9.86 9.92 9.88 10.26 10.15 10.14
Common Equity tier 1 (d) 10.94 10.47 10.71 10.64 N/A N/A N/A N/A
Tier 1 common equity (d) N/A N/A N/A N/A 11.17 11.26 11.25 11.27
Tier 1 risk-based capital 11.35 10.87 11.11 11.04 11.90 12.01 11.99 12.01
Total risk-based capital 12.97 12.47 12.66 12.79 13.89 14.10 14.14 14.23
Leverage 10.72 10.68 10.74 10.91 11.26 11.15 11.24 11.30
TRUST AND BROKERAGE ASSETS
Assets under management $ 33,983 $ 35,158 $ 38,399 $ 39,281 $ 39,157 $ 39,283 $ 39,669 $ 38,893
Nonmanaged and brokerage assets 47,681 46,796 48,789 49,508 49,147 48,273 48,728 47,396
OTHER DATA
Average full-time-equivalent employees 13,359 13,555 13,455 13,591 13,590 13,905 13,867 14,055
Branches 966 972 989 992 994 997 1,009 1,027
(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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