{"id":928477,"date":"2026-01-20T06:38:27","date_gmt":"2026-01-20T11:38:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/keycorp-reports-fourth-quarter-2025-net-income-of-474-million-or-43-per-diluted-common-share\/"},"modified":"2026-01-20T06:38:27","modified_gmt":"2026-01-20T11:38:27","slug":"keycorp-reports-fourth-quarter-2025-net-income-of-474-million-or-43-per-diluted-common-share","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/keycorp-reports-fourth-quarter-2025-net-income-of-474-million-or-43-per-diluted-common-share\/","title":{"rendered":"KEYCORP REPORTS FOURTH QUARTER 2025 NET INCOME OF $474 MILLION, OR $.43 PER DILUTED COMMON SHARE"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n Revenue of $2.0 billion; Record full year revenue of $7.5 billion, up 16% year-over-year adjusted for selected items(a),(b)<\/sup><\/b>\n <\/p>\n

\n Pre-provision net revenue(b)<\/sup> increased $46 million quarter-over-quarter; Full year pre-provision net revenue increased 44% year-over-year adjusted for selected items(a),(b)<\/sup>\u00a0<\/b>\n <\/p>\n

\n Net interest income increased 3% quarter-over-quarter, and net interest margin of 2.82% increased 7 bps<\/b>\n <\/p>\n

\n Nonperforming assets decreased 6% quarter-over-quarter; Net charge-offs decreased 3 bps to 39 bps<\/b>\n <\/p>\n

\n Common Equity Tier 1 ratio of 11.7%(c)<\/sup>; Repurchased $200 million of common shares during the quarter<\/b>\n <\/p>\n

\n CLEVELAND<\/span>, Jan. 20, 2026<\/span> \/PRNewswire\/ — KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $474 million, or $.43 per diluted common share, or adjusted net income of $458 million, or $.41 per diluted common share(b)<\/sup>,\u00a0for the fourth quarter of 2025. The fourth quarter of 2025 included a $16 million after-tax benefit related to the updated FDIC special assessment(a)<\/sup>. For the third quarter of 2025, net income from continuing operations attributable to Key common shareholders was $454 million, or $.41 per diluted common share, or adjusted net income of $450 million, or $.41 per diluted common share(b)<\/sup>. For the fourth quarter of 2024, KeyCorp reported a net loss from continuing operations attributable to Key common shareholders of $(279) million, or $(.28) per diluted common share, or adjusted net income of $378 million, or $.38 per diluted common share(b)<\/sup>. Included in the fourth quarter of 2024 are after-tax charges of $(657) million, or $(.66) per diluted common share, related to the loss on the sale of securities(a)<\/sup>, a $2 million after-tax charge related to the Scotiabank investment agreement valuation(a)<\/sup>, and a $2 million after-tax benefit related to the updated FDIC special assessment(a)<\/sup>.<\/p>\n

\n
\n Comments from Chairman and CEO, Chris Gorman<\/u>
\n <\/b>\n <\/p>\n

\n “Our strong fourth quarter and full-year results demonstrate the consistent and significant progress we are making on our path to achieving sustainable mid-to-high teens returns on tangible common equity. Fourth quarter revenue exceeded $2 billion, and full year revenue was a record, up 16% year-over-year(b)<\/sup>. Full year results met or exceeded each of the financial targets we communicated at the beginning of the year. During the year, we generated approximately 1,200 basis points of adjusted operating leverage(b)<\/sup> and 280 basis points of adjusted fee-based operating leverage(b)<\/sup>. Tangible book value per share grew 3% sequentially and 18% year-over-year.<\/i>\n <\/p>\n

\n In addition to driving greater return on<\/u> capital, we remain committed to the return of<\/u> capital. To this end, we resumed share repurchases at an accelerated pace, buying back $200 million of common shares in the fourth quarter while maintaining peer-leading capital ratios. Given our excess capital position and meaningful capital generation capabilities, we are well positioned to further increase our return of capital to our shareholders in 2026.\u00a0 <\/i>\n <\/p>\n

\n Looking forward, I am confident that we will deliver another year of strong organic revenue and earnings growth. Our strategic investments – particularly in front-line bankers and technology – continue to fuel organic growth and enhance our ability to deliver best-in-class capabilities and service to our clients. Business momentum remains strong. Assets under management reached a record $70 billion. Investment banking and debt placement fees recorded the second-best annual performance in our history, and pipelines remain elevated.<\/i>\n <\/p>\n

\n I am incredibly proud of our results, our continued momentum, and most importantly, the talented teammates behind our success. This morning, we announced changes to the composition of our Board which reflect strong leadership that will drive the next phase of value creation for Key. I remain confident that our focus, resilience, and dedication will continue to deliver value to the stakeholders we serve \u2013 our shareholders, our clients, and our communities.”<\/i>\n <\/p>\n

\n\n\n\n\n
\n

\n (a) See table on page 25 for more information on Selected Items Impact on Earnings.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (b) The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures related to “adjusted revenue”, “pre-provision net revenue”, “adjusted pre-provision net revenue”, “adjusted noninterest income”, “adjusted noninterest expense”, “adjusted total operating leverage”, “adjusted fee-based operating leverage”, “adjusted net income”, and “adjusted earnings per share”. The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (c) December\u00a031, 2025 ratio is estimated<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Selected Financial Highlights<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions, except per share data<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income (loss) from continuing operations attributable to Key common shareholders<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0 474<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 454<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 (279)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income (loss) from continuing operations attributable to Key common shareholders\u00a0per
\u00a0 \u00a0 \u00a0 common share \u2014 assuming dilution<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n .43<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n .41<\/span>\n <\/p>\n<\/td>\n

\n

\n (.28)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4.9<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Book value at period end<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 16.27<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 15.86<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.21<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.6<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.5\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Return on average tangible common equity from continuing operations (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 12.43\u00a0%<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 12.51\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n (9.69)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0 (8) bps<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Return on average total assets from continuing operations<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1.08<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1.04<\/span>\n <\/p>\n<\/td>\n

\n

\n (.52)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4<\/span>\n <\/p>\n<\/td>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 160 bps<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Common Equity Tier 1 ratio (b)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 11.7<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 11.8<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (10)<\/span>\n <\/p>\n<\/td>\n

\n

\n (20)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net interest margin (TE) from continuing operations<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2.82<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2.75<\/span>\n <\/p>\n<\/td>\n

\n

\n 2.41<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7<\/span>\n <\/p>\n<\/td>\n

\n

\n 41<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (a)<\/span>\n <\/p>\n<\/td>\n

\n

\n The table entitled “GAAP to Non-GAAP\u00a0Reconciliations” in the attached financial supplement presents the computations of certain financial measures related to “tangible common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (b)<\/span>\n <\/p>\n<\/td>\n

\n

\n December 31, 2025 ratio is estimated.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n TE = Taxable Equivalent, N\/M = Not Meaningful<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n INCOME STATEMENT HIGHLIGHTS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Revenue<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net interest income (TE)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,223<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,193<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,061<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.5\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.3\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 782<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 702<\/span>\n <\/p>\n<\/td>\n

\n

\n (196)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.4<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total revenue (TE)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0 2,005<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,895<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 865<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.8\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 131.8\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n TE = Taxable Equivalent, N\/M = Not Meaningful<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Taxable-equivalent net interest income was $1.22 billion for the fourth quarter of 2025 and the net interest margin was 2.82%. Compared to the fourth quarter of 2024, net interest income increased by $162 million, and the net interest margin increased by 41 basis points. These increases primarily reflect lower deposit costs, the reinvestment of proceeds from maturing low-yielding investment securities, swaps and fixed-rate loans into higher-yielding investments, and the repositioning of the available-for-sale portfolio during the fourth quarter of 2024. Additionally, the balance sheet composition shifted to reflect a more favorable mix of higher-yielding commercial and industrial loans and an improved funding mix as lower-cost deposits increased while wholesale borrowings declined. These benefits were partially offset by the impact of lower interest rates on variable-rate earning assets.<\/p>\n

Compared to the third quarter of 2025, taxable-equivalent net interest income increased by $30 million, and the net interest margin increased by 7 basis points. These increases were driven by lower deposit costs, an improved funding mix as lower-cost deposit balances increased while wholesale borrowings declined, and a shift in the balance sheet composition to a more favorable mix of higher-yielding commercial and industrial loans. These benefits were partially offset by the impact of lower interest rates on variable-rate earning assets.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Noninterest Income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Trust and investment services income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 156<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 150<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 142<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4.0\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.9\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Investment banking and debt placement fees<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 243<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 184<\/span>\n <\/p>\n<\/td>\n

\n

\n 221<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 32.1<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cards and payments income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 84<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 86<\/span>\n <\/p>\n<\/td>\n

\n

\n 85<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2.3)<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Service charges on deposit accounts<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 78<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 75<\/span>\n <\/p>\n<\/td>\n

\n

\n 65<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4.0<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Corporate services income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 81<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 72<\/span>\n <\/p>\n<\/td>\n

\n

\n 69<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12.5<\/span>\n <\/p>\n<\/td>\n

\n

\n 17.4<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Commercial mortgage servicing fees<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 68<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 73<\/span>\n <\/p>\n<\/td>\n

\n

\n 68<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6.8)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Corporate-owned life insurance income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 40<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 35<\/span>\n <\/p>\n<\/td>\n

\n

\n 36<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14.3<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.1<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Consumer mortgage income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 16<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 14<\/span>\n <\/p>\n<\/td>\n

\n

\n 16<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14.3<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease income and other leasing gains<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 9<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 11<\/span>\n <\/p>\n<\/td>\n

\n

\n 15<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (18.2)<\/span>\n <\/p>\n<\/td>\n

\n

\n (40.0)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 7<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 8<\/span>\n <\/p>\n<\/td>\n

\n

\n (5)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (12.5)<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net securities gains (losses)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n \u2014<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (6)<\/span>\n <\/p>\n<\/td>\n

\n

\n (908)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 782<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 702<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (196)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n N\/M = Not Meaningful<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Compared to the fourth quarter of 2024, noninterest income increased by $978 million. The increase was primarily driven by the impact of a $915 million loss on the sale of securities as part of the strategic repositioning of the portfolio in the fourth quarter of 2024. Adjusted noninterest income(a)<\/sup> grew 8% primarily driven by a $22 million increase in investment banking and debt placement fees, a $12 million increase in corporate services income, and continued momentum in trust and investment services and commercial payments.<\/p>\n

Compared to the third quarter of 2025, noninterest income increased by $80 million. The increase was driven by a $59 million increase in investment banking and debt placement fees reflective of higher merger and acquisition advisory fees as well as commercial debt placement fees, a $9 million increase in corporate services income, and a $6 million increase in trust and investment services income.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Noninterest Expense<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Personnel expense<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 790<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 742<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 734<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6.5\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net occupancy<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 69<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 65<\/span>\n <\/p>\n<\/td>\n

\n

\n 67<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6.2<\/span>\n <\/p>\n<\/td>\n

\n

\n 3.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Computer processing<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 106<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 105<\/span>\n <\/p>\n<\/td>\n

\n

\n 107<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.0<\/span>\n <\/p>\n<\/td>\n

\n

\n (.9)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Business services and professional fees<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 61<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 44<\/span>\n <\/p>\n<\/td>\n

\n

\n 55<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 38.6<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Equipment<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 22<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 20<\/span>\n <\/p>\n<\/td>\n

\n

\n 20<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10.0<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease expense<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 8<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 9<\/span>\n <\/p>\n<\/td>\n

\n

\n 15<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (11.1)<\/span>\n <\/p>\n<\/td>\n

\n

\n (46.7)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Marketing<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 28<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 22<\/span>\n <\/p>\n<\/td>\n

\n

\n 33<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27.3<\/span>\n <\/p>\n<\/td>\n

\n

\n (15.2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other expense<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 157<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 170<\/span>\n <\/p>\n<\/td>\n

\n

\n 198<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (7.6)<\/span>\n <\/p>\n<\/td>\n

\n

\n (20.7)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,241<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,177<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 1,229<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.0\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

Compared to the fourth quarter of 2024, noninterest expense increased by $12\u00a0million. The increase was predominantly driven by a $56 million increase in personnel expense primarily related to incentive compensation associated with noninterest income growth, continued investments in people, and employee benefits. These were partially offset by a decrease in other expense related to a $21 million benefit associated with the updated FDIC special assessment.<\/p>\n

Compared to the third quarter of 2025, noninterest expense increased by $64 million. The increase was predominantly driven by a $48\u00a0million increase in personnel expense, primarily related to incentive compensation associated with noninterest income growth, seasonally higher employee benefits, and continued investments in people. Business services and professional fees increased by $17\u00a0million due to technology-related investments and seasonality. These were partially offset by a decrease in other expense related to a $21 million benefit associated with the updated FDIC special assessment.<\/p>\n

\n\n\n
\n

\n (a) The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations related to “adjusted noninterest income”. The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n BALANCE SHEET HIGHLIGHTS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Average Loans<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Commercial and industrial (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0 57,541<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 56,571<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 52,887<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.7\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 8.8\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other commercial loans<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 18,497<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 18,826<\/span>\n <\/p>\n<\/td>\n

\n

\n 19,202<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.7)<\/span>\n <\/p>\n<\/td>\n

\n

\n (3.7)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total consumer loans<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 30,278<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 30,830<\/span>\n <\/p>\n<\/td>\n

\n

\n 32,622<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.8)<\/span>\n <\/p>\n<\/td>\n

\n

\n (7.2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total loans<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0 106,316<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 106,227<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 104,711<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.1\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.5\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (a)<\/span>\n <\/p>\n<\/td>\n

\n

\n Commercial and industrial average loan balances include $211 million, $214 million, and $216 million of assets from commercial credit cards at December 31, 2025, September 30, 2025, and December 31, 2024, respectively.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Average loans were $106.3 billion for the fourth quarter of 2025, an increase of $1.6 billion compared to the fourth quarter of 2024. Average commercial loans increased by $3.9 billion, primarily driven by a $4.7 billion increase in commercial and industrial loans, partially offset by modest reduction in commercial real estate loans. Average consumer loans declined by $2.3 billion, reflective of the intentional run-off of low-yielding loans, primarily consumer mortgages.<\/p>\n

Compared to the third quarter of 2025, average loans increased by $89 million. Average commercial loans increased $641 million, primarily driven by an increase in commercial and industrial loans. Average consumer loans declined by $552 million, reflective of the intentional run-off of low-yielding loans.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Average Deposits<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-time deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0 136,853<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 135,135<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 132,092<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 3.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Time deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 13,857<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 15,239<\/span>\n <\/p>\n<\/td>\n

\n

\n 17,641<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9.1)<\/span>\n <\/p>\n<\/td>\n

\n

\n (21.5)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0 150,710<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 150,374<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 149,733<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n .2\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n .7\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cost of total deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1.81\u00a0%<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1.97\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 2.18\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 (16) bps<\/span>\n <\/p>\n<\/td>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 (37) bps<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

Average deposits totaled $150.7 billion for the fourth quarter of 2025, an increase of $977 million compared to the year-ago quarter, reflecting growth in commercial deposits.<\/p>\n

Compared to the third quarter of 2025, average deposits increased by $336 million, driven by higher commercial client balances which offset a $1.3 billion decline in brokered CDs. The rate paid on interest-bearing deposits declined by 20 basis points, and the overall cost of deposits declined by 16 basis points to 1.81%.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n ASSET QUALITY<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net loan charge-offs<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0 104<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 114<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 114<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (8.8)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n (8.8)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net loan charge-offs to average total loans<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n .39\u00a0%<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n .42\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n .43\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0 (3) bps<\/span>\n <\/p>\n<\/td>\n

\n

\n \u00a0\u00a0\u00a0 (4) bps<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Nonperforming loans at period end<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0 615<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 658<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0 758<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6.5)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n (18.9)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Nonperforming assets at period end<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 627<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 668<\/span>\n <\/p>\n<\/td>\n

\n

\n 772<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6.1)<\/span>\n <\/p>\n<\/td>\n

\n

\n (18.8)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Allowance for loan and lease losses<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,427<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,444<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,409<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.2)<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.3<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Allowance for credit losses<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,740<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,736<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,699<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.2<\/span>\n <\/p>\n<\/td>\n

\n

\n 2.4<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for credit losses<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 108<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 107<\/span>\n <\/p>\n<\/td>\n

\n

\n 39<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.9<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Allowance for loan and lease losses to nonperforming loans<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 232\u00a0%<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 219\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 186\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Allowance for credit losses to nonperforming loans<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 283<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 264<\/span>\n <\/p>\n<\/td>\n

\n

\n 224<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n N\/M = Not Meaningful<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Net loan charge-offs for the fourth quarter of 2025 totaled $104 million, or 0.39% of average total loans. These results compare to $114 million, or 0.43%, for the fourth quarter of 2024 and $114 million, or 0.42%, for the third quarter of 2025.<\/p>\n

Key’s allowance for credit losses was $1.7\u00a0billion, or 1.63% of total period-end loans at December\u00a031, 2025, compared to 1.63% at December\u00a031, 2024, and 1.64% at September\u00a030, 2025.\u00a0A relatively stable reserve build of $4\u00a0million during the fourth quarter of 2025 was the result of the net impact of improving credit quality trends and resilient economic forecasts offset by growth in unfunded commitments.<\/p>\n

At December 31, 2025, Key’s\u00a0nonperforming loans totaled $615 million, which represented 0.58% of period-end portfolio loans. These results compare to 0.73% at December\u00a031, 2024, and 0.62% at September\u00a030, 2025. Nonperforming assets at December\u00a031, 2025, totaled $627 million, and represented 0.59% of period-end portfolio loans and OREO and other nonperforming assets. These results compare to 0.74% at December\u00a031, 2024, and 0.63% at September\u00a030, 2025.<\/p>\n

\n CAPITAL<\/b>\n <\/p>\n

Key’s estimated risk-based capital ratios, included in the following table, continued to exceed all “well-capitalized” regulatory benchmarks at December 31, 2025.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Capital Ratios<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n 12\/31\/2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 9\/30\/2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 12\/31\/2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Common Equity Tier 1 (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 11.7\u00a0%<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 11.8\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.9\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tier 1 risk-based capital (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 13.4<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 13.5<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.7<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total risk-based capital (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 15.6<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 15.8<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tangible common equity to tangible assets (b)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 8.4<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 8.1<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Leverage (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 10.5<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 10.4<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (a)<\/span>\n <\/p>\n<\/td>\n

\n

\n December 31, 2025 ratio is estimated. As of January 1, 2025, the CECL optional transition provision had been fully phased-in. Amounts prior to January 1, 2025, reflect Key’s election to adopt the CECL optional transition provision.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (b)<\/span>\n <\/p>\n<\/td>\n

\n

\n The table entitled “GAAP to Non-GAAP Reconciliations” in the attached financial supplement presents the computations of certain financial measures related to “tangible common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Key’s regulatory capital position remained strong in the fourth quarter of 2025. As shown in the preceding table, at December 31, 2025, Key’s estimated Common Equity Tier 1 and Tier 1 risk-based capital ratios stood at 11.7% and 13.4%, respectively.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Summary of Changes in Common Shares Outstanding<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n In thousands<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Shares outstanding at beginning of period<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,112,952<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,112,453<\/span>\n <\/p>\n<\/td>\n

\n

\n 991,251<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.3\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Share repurchases<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (11,109)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Shares issued under employee compensation plans (net of cancellations and
returns)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 558<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 499<\/span>\n <\/p>\n<\/td>\n

\n

\n 493<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.8\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Shares issued under Scotiabank investment agreement<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n \u2014<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n

\n 115,042<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Shares outstanding at end of period<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,102,401<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,112,952<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,106,786<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (.9)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n (.4)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n N\/M = Not Meaningful<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

During the fourth quarter of 2025, Key declared a dividend of $.205 per common share. The reduction in share count was driven by $200 million of common shares repurchased.<\/p>\n

\n LINE OF BUSINESS RESULTS\u00a0<\/b>\n <\/p>\n

The following table shows the contribution made by each major business segment to Key’s taxable-equivalent revenue from continuing operations and income (loss) from continuing operations attributable to Key for the periods presented. For more detailed financial information pertaining to each business segment, see the tables at the end of this release.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Major Business Segments<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Revenue from continuing operations (TE)<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Consumer Bank<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 948<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 935<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 865<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Commercial Bank<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,109<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,014<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,001<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9.4<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.8<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (52)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (54)<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,001)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.7<\/span>\n <\/p>\n<\/td>\n

\n

\n 94.8<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 \u00a0Total<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,005<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,895<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 865<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.8\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 131.8\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Income (loss) from continuing operations attributable to Key<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Consumer Bank<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 137<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 152<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 83<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9.9)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 65.1\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Commercial Bank<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 410<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 367<\/span>\n <\/p>\n<\/td>\n

\n

\n 381<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.7<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other (a)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (38)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (29)<\/span>\n <\/p>\n<\/td>\n

\n

\n (708)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (31.0)<\/span>\n <\/p>\n<\/td>\n

\n

\n 94.6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 \u00a0 \u00a0Total<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 509<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 490<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (244)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.9\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 308.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (a)<\/span>\n <\/p>\n<\/td>\n

\n

\n Other includes other segments that consists of corporate treasury, 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. Corporate treasury includes realized gains and losses from transactions associated with Key’s investment securities portfolio. Reconciling items also includes intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n TE = Taxable Equivalent<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Consumer Bank<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Summary of operations<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net interest income (TE)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 696<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 691<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 632<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n .7\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.1\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 252<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 244<\/span>\n <\/p>\n<\/td>\n

\n

\n 233<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.3<\/span>\n <\/p>\n<\/td>\n

\n

\n 8.2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total revenue (TE)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 948<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 935<\/span>\n <\/p>\n<\/td>\n

\n

\n 865<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.4<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for credit losses<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 32<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 40<\/span>\n <\/p>\n<\/td>\n

\n

\n 43<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (20.0)<\/span>\n <\/p>\n<\/td>\n

\n

\n (25.6)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 735<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 695<\/span>\n <\/p>\n<\/td>\n

\n

\n 713<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.8<\/span>\n <\/p>\n<\/td>\n

\n

\n 3.1<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income (loss) before income taxes (TE)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 181<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 200<\/span>\n <\/p>\n<\/td>\n

\n

\n 109<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9.5)<\/span>\n <\/p>\n<\/td>\n

\n

\n 66.1<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Allocated income taxes (benefit) and TE adjustments<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 44<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 48<\/span>\n <\/p>\n<\/td>\n

\n

\n 26<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (8.3)<\/span>\n <\/p>\n<\/td>\n

\n

\n 69.2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net income (loss) attributable to Key<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 137<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 152<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 83<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9.9)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 65.1\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Average balances<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Loans and leases<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0 34,683<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0 35,363<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0 37,567<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.9)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n (7.7)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total assets<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 37,731<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 38,374<\/span>\n <\/p>\n<\/td>\n

\n

\n 40,563<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.7)<\/span>\n <\/p>\n<\/td>\n

\n

\n (7.0)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 87,738<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 87,692<\/span>\n <\/p>\n<\/td>\n

\n

\n 87,476<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n .1<\/span>\n <\/p>\n<\/td>\n

\n

\n .3<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Assets under management at period end<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0 69,964<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0 67,855<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0 61,361<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.1\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.0\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n TE = Taxable Equivalent<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Additional Consumer Bank Data<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Dollars in millions<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Change 4Q25 vs.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 4Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3Q25<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4Q24<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Noninterest income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Trust and investment services income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 128<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 124<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 115<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.2\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.3\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Service charges on deposit accounts<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 38<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 36<\/span>\n <\/p>\n<\/td>\n

\n

\n 32<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.6<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.8<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cards and payments income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 60<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 61<\/span>\n <\/p>\n<\/td>\n

\n

\n 61<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.6)<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.6)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Consumer mortgage income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 16<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 14<\/span>\n <\/p>\n<\/td>\n

\n

\n 17<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14.3<\/span>\n <\/p>\n<\/td>\n

\n

\n (5.9)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 10<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 9<\/span>\n <\/p>\n<\/td>\n

\n

\n 8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.1<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 252<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 244<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 233<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 8.2\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Average deposit balances<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Money market deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0 35,390<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 35,278<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 31,968<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n .3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.7\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Demand deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 22,879<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 22,604<\/span>\n <\/p>\n<\/td>\n

\n

\n 22,442<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.2<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Savings deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 4,177<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 4,291<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,391<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2.7)<\/span>\n <\/p>\n<\/td>\n

\n

\n (4.9)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Time deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 11,061<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 11,113<\/span>\n <\/p>\n<\/td>\n

\n

\n 13,979<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (.5)<\/span>\n <\/p>\n<\/td>\n

\n

\n (20.9)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Noninterest-bearing deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 14,231<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 14,406<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,696<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.2)<\/span>\n <\/p>\n<\/td>\n

\n

\n (3.2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $\u00a0 87,738<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 87,692<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 87,476<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n .1\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n

\n .3\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Other data<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Branches<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 940<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 942<\/span>\n <\/p>\n<\/td>\n

\n

\n 943<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Automated teller machines<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,120<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,152<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,182<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\n Consumer Bank Summary of Operations (4Q25 vs. 4Q24)<\/b>\n <\/p>\n