KeyBank 2015 Annual Report Download - page 48

Figure 1. Selected Financial Data
dollars in millions, except per share amounts 2015 2014 2013 2012 2011
Compound
Annual
Rate
of Change
(2011-2015)
YEAR ENDED DECEMBER 31,
Interest income $ 2,622 $ 2,554 $ 2,620 $ 2,705 $ 2,889 (1.9)%
Interest expense 274 261 295 441 622 (15.1)
Net interest income 2,348 2,293 2,325 2,264 2,267 .7
Provision for credit losses 166 57 138 213 (88) N/M
Noninterest income 1,880 1,797 1,766 1,856 1,688 2.2
Noninterest expense 2,840 2,761 2,812 2,834 2,712 .9
Income (loss) from continuing operations before income taxes 1,222 1,272 1,141 1,073 1,331 (1.7)
Income (loss) from continuing operations attributable to Key 915 939 870 835 955 (.9)
Income (loss) from discontinued operations, net of taxes (a) 1(39) 40 23 (35) N/M
Net income (loss) attributable to Key 916 900 910 858 920 (.1)
Income (loss) from continuing operations attributable to Key common shareholders 892 917 847 813 848 1.0
Income (loss) from discontinued operations, net of taxes (a) 1(39) 40 23 (35) N/M
Net income (loss) attributable to Key common shareholders 893 878 887 836 813 1.9
PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common shareholders $ 1.06 $ 1.05 $ .93 $ .87 $ .91 3.1%
Income (loss) from discontinued operations, net of taxes (a) —(.04) .04 .02 (.04) N/M
Net income (loss) attributable to Key common shareholders (b) 1.06 1.01 .98 .89 .87 4.0
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution $ 1.05 $ 1.04 $ .93 $ .86 $ .91 2.9%
Income (loss) from discontinued operations, net of taxes — assuming dilution (a) —(.04) .04 .02 (.04) N/M
Net income (loss) attributable to Key common shareholders — assuming dilution (b) 1.05 .99 .97 .89 .87 3.8
Cash dividends paid .29 .25 .215 .18 .10 23.7%
Book value at year end 12.51 11.91 11.25 10.78 10.09 4.4
Tangible book value at year end 11.22 10.65 10.11 9.67 9.11 4.3
Market price at year end 13.19 13.90 13.42 8.42 7.69 11.4
Dividend payout ratio 27.4% 24.8% 21.9% 20.2% 11.49% N/A
Weighted-average common shares outstanding (000) 836,846 871,464 906,524 938,941 931,934 (2.1)
Weighted-average common shares and potential common shares outstanding (000) (c) 844,489 878,199 912,571 943,259 935,801 (2.0)
AT DECEMBER 31.
Loans $ 59,876 $ 57,381 $ 54,457 $ 52,822 $ 49,575 3.8%
Earning assets 83,780 82,269 79,467 75,055 73,729 2.6
Total assets 95,133 93,821 92,934 89,236 88,785 1.4
Deposits 71,046 71,998 69,262 65,993 61,956 2.8
Long-term debt 10,186 7,875 7,650 6,847 9,520 1.4
Key common shareholders’ equity 10,456 10,239 10,012 9,980 9,614 1.7
Key shareholders’ equity 10,746 10,530 10,303 10,271 9,905 1.6
PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS
Return on average total assets .99% 1.08% 1.03% 1.03% 1.16% N/A
Return on average common equity 8.63 9.01 8.48 8.25 9.17 N/A
Return on average tangible common equity (d) 9.64 10.04 9.45 9.16 10.20 N/A
Net interest margin (TE) 2.88 2.97 3.12 3.21 3.16 N/A
Cash efficiency ratio (d) 65.9 66.2 67.3 67.8 68.0 N/A
PERFORMANCE RATIOS — FROM CONSOLIDATED OPERATIONS
Return on average total assets .97% .99% 1.02% .99% 1.04% N/A
Return on average common equity 8.64 8.63 8.88 8.48 8.79 N/A
Return on average tangible common equity (d) 9.65 9.61 9.90 9.42 9.78 N/A
Net interest margin (TE) 2.85 2.94 3.02 3.13 3.09 N/A
Loan to deposit (e) 87.8 84.6 83.8 85.8 87.0 N/A
CAPITAL RATIOS AT DECEMBER 31,
Key shareholders’ equity to assets 11.30% 11.22% 11.09% 11.51% 11.16% N/A
Key common shareholders’ equity to assets 10.99 10.91 10.78 11.18 10.83 N/A
Tangible common equity to tangible assets (d) 9.98 9.88 9.80 10.15 9.88 N/A
Common Equity Tier 1 (d) 10.94 N/A N/A N/A N/A N/A
Tier 1 common equity (d) N/A 11.17 11.22 11.36 11.26 N/A
Tier 1 risk-based capital 11.35 11.90 11.96 12.15 12.99 N/A
Total risk-based capital 12.97 13.89 14.33 15.13 16.51 N/A
Leverage 10.72 11.26 11.11 11.41 11.79 N/A
TRUST AND BROKERAGE ASSETS
Assets under management $ 33,983 $ 39,157 $ 36,905 $ 34,744 $ 34,255 N/A
Nonmanaged and brokerage assets 47,681 49,147 47,418 35,550 30,639 N/A
OTHER DATA
Average full-time-equivalent employees 13,483 13,853 14,783 15,589 15,381 (2.6)%
Branches 966 994 1,028 1,088 1,058 (1.8)
(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.
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”).
(b) EPS may not foot due to rounding.
(c) Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable.
36