XML 80 R28.htm IDEA: XBRL DOCUMENT v3.25.3
Business Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Business Segment Reporting
19. Business Segment Reporting

The following is a description of the segments and their primary businesses at September 30, 2025.

Consumer Bank

The Consumer Bank serves individuals and small businesses throughout our 15-state branch footprint as well as healthcare professionals nationally through our digital channel by offering a variety of deposit and investment products, personal finance and financial wellness services, lending, mortgage and home equity, student loan refinancing, credit card, treasury services, and business advisory services. In addition, wealth management and investment services are offered to assist institutional, non-profit, and high-net-worth clients with their banking, trust, portfolio management, charitable giving, and related needs.

Commercial Bank

The Commercial Bank is an aggregation of our Institutional and Commercial operating segments. The Commercial operating segment is a full-service corporate bank focused principally on serving the borrowing, cash management, and capital markets needs of middle market clients within Key’s 15-state branch footprint. The Institutional operating segment operates nationally, providing lending, equipment financing, and banking products and services to large corporate and institutional clients. The industry coverage and product teams have established expertise in the following sectors: Consumer, Energy, Healthcare, Industrial, Public Sector, Real Estate, and Technology. It is also a significant, national, commercial real estate lender and third-party master and special servicer of commercial mortgage loans. The operating segment also includes the KBCM platform which provides a broad suite of capital markets products and services including syndicated finance, debt and equity underwriting, fixed income and equity sales and trading, derivatives, foreign exchange, mergers & acquisition and other advisory, and public finance.

Other

Other includes various corporate treasury activities such as management of our investment securities portfolio, long-term debt, short-term liquidity and funding activities, and balance sheet risk management, our principal investing unit, and various exit portfolios as well as reconciling items, which primarily represent the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also include intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations.

Developing and applying the methodologies that we use to allocate items among our lines of business is a dynamic process. Accordingly, financial results may be revised periodically to reflect enhanced alignment of expense base allocation drivers, changes in the risk profile of a particular business, or changes in our organizational structure.

The table below shows selected financial data for our business segments for the three- and nine-month periods ended September 30, 2025, and September 30, 2024. Capital is assigned to each business segment based on a combination of regulatory and economic equity.
Three months ended September 30,Consumer BankCommercial BankOtherTotal Key
Dollars in millions20252024202520242025202420252024
SUMMARY OF OPERATIONS
Net interest income (TE)$691 $569 $587 $460 $(85)$(65)$1,193 $964 
Noninterest income244 231 427 406 31 (906)702 (269)
Total revenue (TE) (a)
935 800 1,014 866 (54)(971)1,895 695 
Provision for credit losses40 52 68 41 (1)2 107 95 
Personnel expense230 214 200 192 312 264 742 670 
Other direct noninterest expense136 137 74 74 225 213 435 424 
Support and overhead329 298 208 178 (537)(476)— — 
Income (loss) from continuing operations before income taxes (TE)
200 99 464 381 (53)(974)611 (494)
Allocated income taxes and TE adjustments
48 24 97 82 (24)(189)121 (83)
Income (loss) from continuing operations152 75 367 299 (29)(785)490 (411)
Income (loss) from discontinued operations, net of taxes
— — — — (1)1 (1)1 
Net income (loss)$152 $75 $367 $299 $(30)$(784)$489 $(410)
AVERAGE BALANCES (b)
Loans and leases$35,363 $38,332 $70,326 $67,452 $538 $460 $106,227 $106,244 
Total assets (a)
38,374 41,188 79,733 76,395 69,031 70,026 187,138 187,609 
Deposits87,692 86,431 58,483 58,696 4,199 2,644 150,374 147,771 
(a)Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States.
(b)From continuing operations.

Nine months ended September 30,Consumer BankCommercial BankOtherTotal Key
Dollars in millions20252024202520242025202420252024
SUMMARY OF OPERATIONS
Net interest income (TE)$2,013 $1,614 $1,678 $1,268 $(243)$(133)$3,448 $2,749 
Noninterest income705 691 1,252 1,164 103 (850)2,060 1,005 
Total revenue (TE) (a)
2,718 2,305 2,930 2,432 (140)(983)5,508 3,754 
Provision for credit losses137 83 227 231 (1)(18)363 296 
Personnel expense671 634 565 521 891 825 2,127 1,980 
Other direct noninterest expense418 451 219 257 698 628 1,335 1,336 
Support and overhead978 916 608 539 (1,586)(1,455)— — 
Income (loss) from continuing operations before income taxes (TE)
514 221 1,311 884 (142)(963)1,683 142 
Allocated income taxes and TE adjustments
124 53 274 175 (34)(167)364 61 
Income (loss) from continuing operations390 168 1,037 709 (108)(796)1,319 81 
Income (loss) from discontinued operations, net of taxes
— — — — — 2 — 2 
Net income (loss)$390 $168 $1,037 $709 $(108)$(794)$1,319 $83 
AVERAGE BALANCES (b)
Loans and leases$36,101 $39,139 $68,835 $69,105 $503 $494 $105,439 $108,738 
Total assets (a)
39,107 41,966 78,320 78,234 69,252 66,491 186,679 186,691 
Deposits87,998 85,305 57,272 57,467 3,523 2,182 148,793 144,954 
(a)Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States.
(b)From continuing operations.