Company: KEY-PI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000091576-25-000058
Chunk: 16

Company: KEYCORP /NEW/
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 16
---
-bearing liabilities134,854 974 2.92 136,447 1,157 3.41 (80)(103)(183)Noninterest-bearing deposits27,840 29,399 Accrued expense and other liabilities4,764 5,373 Discontinued liabilities (f)254 329 Total liabilities167,712 171,548 EQUITYKey shareholders’ equity18,632 14,649 Total liabilities and equity$186,344 $186,197 Interest rate spread (TE)1.94 %1.26 %Net interest income (TE) and net interest margin (TE)$1,105 2.58 %$886 2.02 %$56 $163 219 TE adjustment (b)9 11 Net interest income, GAAP basis$1,096 $875 

(a)Results are from continuing operations. Interest excludes the interest associated with the liabilities referred to in (f), calculated using a matched funds transfer pricing methodology.

(b)Interest income on tax-exempt securities and loans has been adjusted to a taxable-equivalent basis using the statutory federal income tax rate of 21% for the three months ended March 31, 2025, and March 31, 2024.

(c)For purposes of these computations, nonaccrual loans are included in average loan balances.

(d)Commercial and industrial average balances include $213 million and $211 million of assets from commercial credit cards for the three months ended March 31, 2025, and March 31, 2024, respectively.

(e)Yield presented is calculated on the basis of amortized cost excluding fair value hedge basis adjustments. The average amortized cost for securities available for sale was $42.7 billion and $42.7 billion for the three months ended March 31, 2025 and March 31, 2024, respectively. Yield based on the fair value of securities available for sale was 3.99% and 2.50% for the three months ended March 31, 2025 and March 31, 2024, respectively.

(f)A portion of long-term debt and the related interest expense is allocated to discontinued liabilities as a result of applying our matched funds transfer pricing methodology to discontinued operations.

(g)Average balances presented are based on daily average balances over the respective stated period.

14

Provision for credit losses

Key’s provision for credit losses