Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 224

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 224
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,907 4,014 2.91 117,803 885 .75 Noninterest-bearing deposits28,993 34,672 49,044 Accrued expense and other liabilities4,886 5,167 4,309 Discontinued liabilities (f)296 384 492 Total liabilities171,703 178,130 171,648 EQUITYTotal equity15,408 13,881 14,730 Total liabilities and equity$187,111 $192,011 $186,378 Interest rate spread (TE)1.42 %1.46 %2.40 %Net interest income (TE) and net interest margin (TE)$3,810 2.16 %$3,943 2.17 %$4,554 2.64 %Less: TE adjustment (b)45 30 27 Net interest income, GAAP basis$3,765 $3,913 $4,527 

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

(b)Interest income on tax-exempt securities and loans has been adjusted to a taxabale-equivalent basis using the statutory federal income tax rate in effect that calendar year.

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

(d)Commercial and industrial average loan balances include $215 million, $196 million, and  $157 million of assets from commercial credit cards for the years ended December 31, 2024, December 31, 2023, and December 31, 2022,  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 $42.2 billion and $44.0 billion for the twelve months ended December 31, 2024, and December 31, 2023, respectively. Yield based on the fair value of securities available for sale was 3.08% and 2.10% for the twelve months ended December 31, 2024, and December 31, 2023, 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