← Filings of KEY
Tables in the 10-K of KEYCORP /NEW/
162 tables with numbers, filed Feb 23, 2026. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
Table 1 after “SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:”
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| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Shares, $1 par value | KEY | New York Stock Exchange |
| Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate | KEY PrI | New York Stock Exchange |
| Perpetual Non-Cumulative Preferred Stock, Series E) | | |
| Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- | KEY PrJ | New York Stock Exchange |
| Cumulative Preferred Stock, Series F) | | |
| Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- | KEY PrK | New York Stock Exchange |
| Cumulative Preferred Stock, Series G) | | |
First 8 of 10 rows. The CSV has all of them.
| ItemNumber | | PageNumber |
| PART I | |
| 1 | Business | 6 |
| 1A | Risk Factors | 25 |
| 1B | Unresolved Staff Comments | 44 |
| 1C | Cybersecurity | 44 |
| 2 | Properties | 47 |
| 3 | Legal Proceedings | 47 |
First 8 of 41 rows. The CSV has all of them.
Table 3 after “Minimum Capital Ratios and KeyCorp Ratios Under Regulatory Capital Rules”
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| Ratios (including stress capital buffer) | Regulatory Minimum Requirement | Stress Capital Buffer (b) | Regulatory Minimum Stress Capital Buffer | KeyCorp December 31, 2025 | | | |
| Common Equity Tier 1 | 4.50% | | 3.20% | | 7.70% | | 11.78% |
| Tier 1 Capital | 6.00 | | 3.20 | | 9.20 | | 13.46 |
| Total Capital | 8.00 | | 3.20 | | 11.20 | | 15.70 |
| Leverage (a) | 4.00 | | N/A | 4.00 | | 10.50 | |
Table 4 after “Revised Prompt Corrective Action Framework”
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| Prompt Corrective Action | Capital Category | | |
| Ratio | Well Capitalized (a) | Adequately Capitalized | |
| Common Equity Tier 1 Risk-Based | 6.5% | | 4.5% |
| Tier 1 Risk-Based | 8.0 | | 6.0 |
| Total Risk-Based | 10.0 | | 8.0 |
| Tier 1 Leverage (b) | 5.0 | | 4.0 |
Table 5 after “The following graph compares the price performance of our Common Shares (based on an initial investment of $100 on December 31, 2020, and as”
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| Assumes $100 investment at close of market on December 31, 2020, and reinvestment of dividends. Total return = price change | | | | | | | | | | |
| Base Period | 2021 | 2022 | 2023 | 2024 | 2025 | 5-year compound growth rate | | | |
| KeyCorp | $100 | | $145.92 | | $114.27 | | $101.10 | $126.73 | $159.96 | 12.85% |
| S&P 500 | 100 | | 128.71 | | 105.40 | | 133.10 | 166.40 | 196.16 | 15.96% |
| Peer Companies | 100 | | 133.52 | | 110.70 | | 109.38 | 138.10 | 161.52 | 11.69% |
Table 6 after “The following table summarizes our repurchases of our common shares for the three months ended December 31, 2025. See Note 21 (“Shareholders”
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| Calendar month | Total number of sharesrepurchased(a) | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Dollar value of shares that may yet be purchased as part of publicly announced plans or programs | | |
| October 1 - 31 | 3,862,365 | | $17.51 | | 3,862,365 | $932,387,436 |
| November 1 - 30 | 4,936,115 | | 17.53 | | 4,935,995 | 845,836,562 |
| December 1 - 31 | 2,311,170 | | 20.19 | | 2,310,402 | 799,200,798 |
| Total | 11,109,650 | | $18.08 | | 11,108,762 | |
Table 7 after “ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS”
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| Page Number |
| Introduction | 51 |
| Corporate strategy | 51 |
| Executive overview | 52 |
| Results of Operations | 53 |
| Earnings overview | 53 |
| Net interest income | 53 |
| Provision for credit losses | 56 |
First 8 of 33 rows. The CSV has all of them.
Table 8 after “Consistent with the forward guidance we provided on January 20, 2026, we expect these results for full year 2026 versus full year 2025.”
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| Category | 2025 Baseline | FY2026 (vs FY 2025)(a) |
| Revenue (TE)(b) | $7,513 Million | up ~7% |
| Net interest income (TE) (b) | $4,671 Million | up 8 to 10% |
| Net interest margin | 2.82% | 4Q exit rate: 3.00 - 3.05%(c) |
| Noninterest income | $2,842 Million | up 3 - 4% |
| Noninterest income on an adjusted basis(b)(d) | $2,495 Million | up 5 - 6% |
| Adjusted noninterest expense(b) | $4,729 Million | up 3 to 4% |
| Average loans | $105.7 Billion | up 1 - 2% |
First 8 of 12 rows. The CSV has all of them.
| Year ended December 31, | 2025 | | 2024 | | 2023 | | | | | | | | | | | | | |
| Dollars in millions | AverageBalance | Interest (a) | Yield/Rate (a) | | AverageBalance | Interest (a) | Yield/Rate (a) | | Average Balance | Interest (a) | Yield/ Rate (a) | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | |
| Loans (b), (c) | | | | | | | | | | | | | | | | | | |
| Commercial and industrial (d) | $55,877 | | $3,347 | | 5.99% | | | $53,951 | | $3,378 | | 6.26% | | | $59,379 | | $3,444 | 5.80% |
| Real estate — commercial mortgage | 13,358 | | 798 | | 5.97 | | | 14,080 | | 873 | | 6.20 | | | 15,968 | | 931 | 5.83 |
| Real estate — construction | 2,840 | | 195 | | 6.87 | | | 3,042 | | 227 | | 7.48 | | | 2,755 | | 185 | 6.71 |
| Commercial lease financing | 2,465 | | 88 | | 3.61 | | | 3,087 | | 105 | | 3.41 | | | 3,703 | | 116 | 3.13 |
First 8 of 47 rows. The CSV has all of them.
Table 10 after “Figure 2. Components of Net Interest Income Changes from Continuing Operations”
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| 2025 vs. 2024 | | | |
| Dollars in millions | AverageVolume | Yield/ Rate | Net Change(a) | |
| INTEREST INCOME | | | | |
| Loans | $(73) | | $(214) | $(287) |
| Loans held for sale | 3 | | (2) | 1 |
| Securities available for sale | 95 | | 362 | 457 |
| Held-to-maturity securities | (21) | | 1 | (20) |
| Trading account assets | (3) | | (2) | (5) |
First 8 of 22 rows. The CSV has all of them.
| Year ended December 31, | | | | Change 2025 vs. 2024 | | Change 2024 vs. 2023 | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | Amount | Percent | | Amount | Percent | | | |
| Trust and investment services income | $591 | | $557 | $516 | | | $34 | | 6.1% | $41 | 7.9% |
| Investment banking and debt placement fees | 780 | | 688 | 542 | | | 92 | | 13.5 | 146 | 26.9 |
| Cards and payments income | 337 | | 331 | 340 | | | 6 | | 1.8 | (9) | (2.6) |
| Service charges on deposit accounts | 295 | | 261 | 270 | | | 34 | | 13.0 | (9) | (3.3) |
| Corporate services income | 294 | | 275 | 302 | | | 19 | | 6.9 | (27) | (8.9) |
| Commercial mortgage servicing fees | 287 | | 258 | 190 | | | 29 | | 11.2 | 68 | 35.8 |
First 8 of 14 rows. The CSV has all of them.
Table 12 after “Figure 4. Assets Under Management or Administration”
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| Year ended December 31, | | | | Change 2025 vs. 2024 | | | |
| Dollars in millions | 2025 | 2024 | | Amount | Percent | | |
| Discretionary assets under management by investment type: | | | | | | | |
| Equity | $37,433 | | $34,541 | | | $2,892 | 8.4% |
| Fixed income | 15,500 | | 13,942 | | | 1,558 | 11.2 |
| Money market | 8,144 | | 6,785 | | | 1,359 | 20.0 |
| Total discretionary assets under management | $61,077 | | $55,268 | | | $5,809 | 10.5% |
| Non-discretionary assets under administration | 8,887 | | 6,093 | | | 2,794 | 45.9 |
First 8 of 9 rows. The CSV has all of them.
| Year ended December 31, | | | | Change 2025 vs. 2024 | | Change 2024 vs. 2023 | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | Amount | Percent | | Amount | Percent | | | |
| Personnel | $2,917 | | $2,714 | $2,660 | | | $203 | | 7.5% | $54 | 2.0% |
| Net occupancy | 270 | | 266 | 267 | | | 4 | | 1.5 | (1) | (0.4) |
| Computer processing | 425 | | 414 | 368 | | | 11 | | 2.7 | 46 | 12.5 |
| Business services and professional fees | 193 | | 174 | 168 | | | 19 | | 10.9 | 6 | 3.6 |
| Equipment | 83 | | 80 | 88 | | | 3 | | 3.8 | (8) | (9.1) |
| Operating lease expense | 38 | | 63 | 77 | | | (25) | | (39.7) | (14) | (18.2) |
First 8 of 11 rows. The CSV has all of them.
| Year ended December 31,Dollars in millions | | | | | Change 2025 vs. 2024 | Change 2024 vs. 2023 | | | | | | |
| 2025 | 2024 | 2023 | | Amount | Percent | Amount | Percent | | | | | |
| Salaries and contract labor | $1,715 | | $1,609 | | $1,649 | | $106 | 6.6% | | $(40) | | (2.4)% |
| Incentive and stock-based compensation (a) | 721 | | 661 | | 525 | | 60 | 9.1 | | 136 | | 25.9 |
| Employee benefits | 460 | | 442 | | 405 | | 18 | 4.1 | | 37 | | 9.1 |
| Severance | 21 | | 2 | | 81 | | 19 | N/M | (79) | | (97.5) | |
| Total personnel expense | $2,917 | | $2,714 | | $2,660 | | $203 | 7.5% | | $54 | | 2.0% |
Table 15 after “Figure 7. Consumer Bank Summary of Operations”
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| Year ended December 31, | | | | Change 2025 vs. | | | |
| Dollars in millions | 2025 | 2024 | 2023 | 2024 | 2023 | | |
| Summary of operations | | | | | | | |
| Net interest income (TE) | $2,709 | | $2,246 | $2,221 | | 20.6% | 22.0% |
| Noninterest income | 957 | | 924 | 937 | | 3.6 | 2.1 |
| Total revenue (TE) | 3,666 | | 3,170 | 3,158 | | 15.6 | 16.1 |
| Provision for credit losses | 169 | | 126 | 111 | | 34.1 | 52.3 |
| Noninterest expense | 2,802 | | 2,714 | 2,779 | | 3.2 | .8 |
First 8 of 29 rows. The CSV has all of them.
Table 16 after “Figure 8. Commercial Bank Summary of Operations”
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| Year ended December 31, | | | | Change 2025 vs. | | | |
| Dollars in millions | 2025 | 2024 | 2023 | 2024 | 2023 | | |
| Summary of operations | | | | | | | |
| Net interest income (TE) | $2,294 | | $1,805 | $1,866 | | 27.1% | 22.9% |
| Noninterest income | 1,745 | | 1,629 | 1,429 | | 7.1 | 22.1 |
| Total revenue (TE) | 4,039 | | 3,434 | 3,295 | | 17.6 | 22.6 |
| Provision for credit losses | 299 | | 227 | 379 | | 31.7 | (21.1) |
| Noninterest expense | 1,905 | | 1,834 | 1,806 | | 3.9 | 5.5 |
First 8 of 28 rows. The CSV has all of them.
Table 17 after “Figure 9. Composition of Loans”
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| 2025 | 2024 | | | | |
| December 31,Dollars in millions | Amount | Percent of Total | | Amount | Percent of Total | |
| COMMERCIAL | | | | | | |
| Commercial and industrial (a) | $57,688 | | 54.1% | | $52,909 | 50.7% |
| Commercial real estate: | | | | | | |
| Commercial mortgage | 13,707 | | 12.9 | | 13,310 | 12.8 |
| Construction | 2,844 | | 2.7 | | 2,936 | 2.8 |
| Total commercial real estate loans | 16,551 | | 15.6 | | 16,246 | 15.6 |
First 8 of 17 rows. The CSV has all of them.
Table 18 after “Figure 10. Commercial Loans by Industry”
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| December 31, 2025 | Commercial and industrial | Commercial real estate | | Commercial lease financing | Total commercial loans | Percent of total | | |
| Dollars in millions | | | | | | | | |
| Industry classification: | | | | | | | | |
| Agriculture | $908 | | $110 | | $76 | | $1,094 | 1.4% |
| Automotive | 2,475 | | 610 | | — | | 3,085 | 4.0 |
| Business services | 3,228 | | 227 | | 85 | | 3,540 | 4.6 |
| Commercial real estate | 8,124 | | 12,045 | | 1 | | 20,170 | 26.4 |
| Construction materials and contractors | 1,978 | | 238 | | 153 | | 2,369 | 3.1 |
First 8 of 42 rows. The CSV has all of them.
Table 19 after “Figure 11. Commercial Real Estate Loans”
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| Geographic Region | | Percent of Total | | CommercialMortgage | | | | | | | | | | | | |
| Dollars in millions | West | Southwest | Central | Midwest | Southeast | Northeast | National | Total | Construction | | | | | | | | |
| December 31, 2025 | | | | | | | | | | | | | | | | | |
| Nonowner-occupied: | | | | | | | | | | | | | | | | | |
| Data Center | $— | | $— | | $— | | $— | | $24 | $— | $671 | $695 | 4.2% | | $272 | | $423 |
| Diversified | 1 | | — | | — | | 29 | | — | 10 | 176 | 216 | 1.3 | | — | | 216 |
| Industrial | 37 | | 1 | | 77 | | 154 | | 262 | 166 | 211 | 908 | 5.5 | | 72 | | 836 |
| Land & Residential | 9 | | 6 | | 13 | | 3 | | 6 | 19 | — | 56 | .3 | | 38 | | 18 |
First 8 of 47 rows. The CSV has all of them.
Table 20 after “Figure 12. Consumer Loans by State”
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| Dollars in millions | Real estate — residential mortgage | Home equity loans | Other consumer loans | Credit cards | | Total | | |
| December 31, 2025 | | | | | | | | |
| Washington | $4,030 | | $844 | | $202 | | $85 | $5,161 |
| Ohio | 2,613 | | 758 | | 66 | | 195 | 3,632 |
| New York | 626 | | 1,587 | | 702 | | 326 | 3,241 |
| Colorado | 2,769 | | 236 | | 118 | | 29 | 3,152 |
| California | 2,056 | | 13 | | 399 | | 3 | 2,471 |
| Oregon | 1,145 | | 487 | | 85 | | 41 | 1,758 |
First 8 of 27 rows. The CSV has all of them.
Table 21 after “Figure 13. Loans Sold (Including Loans Held for Sale)”
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| Dollars in millions | Commercial | CommercialReal Estate | CommercialLeaseFinancing | ResidentialReal Estate | | Total | |
| 2025 | | | | | | | |
| Fourth quarter | $81 | | $2,804 | | $50 | $331 | $3,266 |
| Third quarter | 79 | | 2,513 | | 61 | 359 | 3,012 |
| Second quarter | 239 | | 1,465 | | — | 338 | 2,042 |
| First quarter | 89 | | 1,355 | | 27 | 260 | 1,731 |
| Total | $488 | | $8,137 | | $138 | $1,288 | $10,051 |
| 2024 | | | | | | | |
First 8 of 13 rows. The CSV has all of them.
Table 22 after “Figure 14. Loans Administered or Serviced”
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| December 31,Dollars in millions | 2025 | 2024 | 2023 | |
| Commercial real estate loans | $566,567 | | $557,633 | $499,449 |
| Residential mortgage | 11,419 | | 11,344 | 11,193 |
| Education loans | 152 | | 189 | 248 |
| Commercial lease financing | 1,719 | | 1,735 | 1,946 |
| Commercial loans | 576 | | 603 | 667 |
| Consumer direct | 258 | | 328 | 408 |
| Consumer indirect | 83 | | 319 | 792 |
First 8 of 9 rows. The CSV has all of them.
| December 31, 2025 | | | | | | | | | |
| Dollars in millions | Within One Year | One - Five Years | Five - Fifteen Years | Over Fifteen Years | Total | | | | |
| Commercial | | | | | | | | | |
| Commercial and industrial | $14,655 | | $39,461 | | $3,464 | | $108 | | $57,688 |
| Commercial mortgage | 5,227 | | 6,158 | | 1,959 | | 363 | | 13,707 |
| Real estate — construction | 1,285 | | 1,275 | | 255 | | 29 | | 2,844 |
| Commercial lease financing | 191 | | 1,279 | | 800 | | — | | 2,270 |
| Total commercial loans | $21,358 | | $48,173 | | $6,478 | | $500 | | $76,509 |
First 8 of 18 rows. The CSV has all of them.
Table 24 after “Figure 16. Securities Available for Sale”
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| Dollars in millions | U.S. Treasury, Agencies, and Corporations | Agency Residential Collateralized Mortgage Obligations(a) | Agency Residential Mortgage-backed Securities(a) | Agency Commercial Mortgage-backed Securities(a) | | Total | Weighted-Average Yield(c) | | |
| December 31, 2025 | | | | | | | | | |
| Remaining maturity: | | | | | | | | | |
| One year or less | $2,911 | | $3 | | $47 | | $124 | $3,085 | 4.33% |
| After one through five years | 4,864 | | 1,167 | | 3,275 | | 1,198 | 10,504 | 3.49 |
| After five through ten years | 41 | | 6,879 | | 11,072 | | 2,222 | 20,214 | 3.53 |
| After ten years | 70 | | 516 | | 4,801 | | 406 | 5,793 | 4.17 |
| Fair value | $7,886 | | $8,565 | | $19,195 | | $3,950 | $39,596 | |
First 8 of 14 rows. The CSV has all of them.
Table 25 after “Figure 17. Held-to-Maturity Securities”
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| Dollars in millions | Agency Residential Collateralized Mortgage Obligations(a) | Agency Residential Mortgage-backed Securities(a) | Agency Commercial Mortgage-backed Securities(a) | Asset-backed securities(a) | Other Securities | Total | Weighted-Average Yield(b) | | |
| December 31, 2025 | | | | | | | | | |
| Remaining maturity: | | | | | | | | | |
| One year or less | $38 | | $— | | $351 | $75 | $8 | $472 | 2.57% |
| After one through five years | 1,244 | | 213 | | 756 | 2 | 16 | 2,231 | 3.44 |
| After five through ten years | 2,496 | | 2,097 | | 203 | — | — | 4,796 | 4.29 |
| After ten years | 248 | | 64 | | 811 | — | — | 1,123 | 3.49 |
| Amortized cost | $4,026 | | $2,374 | | $2,121 | $77 | $24 | $8,622 | 3.87% |
First 8 of 14 rows. The CSV has all of them.
Table 26 after “The following presents the breakdown of our deposits by product for the noted periods.”
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| December 31, | | | |
| Dollars in billions | 2025 | 2024 | |
| Money market deposits | $42.7 | | $41.0 |
| Demand deposits | 61.3 | | 57.6 |
| Savings deposits | 4.4 | | 4.6 |
| Time deposits | 12.7 | | 17.0 |
| Noninterest bearing deposits | 27.6 | | 29.6 |
| Total | $148.7 | | $149.8 |
Table 27 after “Figure 19. Estimated Uninsured Deposits”
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| December 31, | | | |
| Dollars in billions | 2025 | 2024 | |
| Uninsured deposits(a) | $66.2 | | $64.4 |
| Total deposits | 148.7 | | 149.8 |
| Uninsured % of Deposits | 45% | | 43% |
| (a) Intercompany deposits and accrued interest excluded from uninsured deposits | $12.8 | | $12.4 |
Table 28 after “Figure 20. Maturity Distribution of Uninsured Time Deposit Amounts”
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| December 31, | | | |
| Dollars in millions | 2025 | 2024 | |
| Remaining maturity: | | | |
| Three months or less | $636 | | $575 |
| After three through six months | 381 | | 582 |
| After six through twelve months | 152 | | 220 |
| After twelve months | 29 | | 77 |
| Total | $1,198 | | $1,454 |
Table 29 after “Figure 21. Changes in Common Shares Outstanding”
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| | 2025 Quarters | | | | | | | |
| In thousands | 2025 | Fourth | Third | Second | First | 2024 | | | |
| Shares outstanding at beginning of period | 1,106,786 | | 1,112,952 | | 1,112,453 | | 1,111,986 | 1,106,786 | 936,564 |
| Share repurchases | (11,109) | | (11,109) | | — | | — | — | — |
| Shares issued under employee compensation plans (net of cancellations and returns) | 6,724 | | 558 | | 499 | | 467 | 5,200 | 7,351 |
| Shares issued under Scotiabank investment agreement | — | | — | | — | | — | — | 162,871 |
| Shares outstanding at end of period | 1,102,401 | | 1,102,401 | | 1,112,952 | | 1,112,453 | 1,111,986 | 1,106,786 |
Table 30 after “Figure 22. Capital Components and Risk-Weighted Assets”
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| December 31, Dollars in millions | 2025 | 2024 | | |
| COMMON EQUITY TIER 1 | | | | |
| Key shareholders’ equity (GAAP) | $20,381 | | $18,176 | |
| Less: | Preferred Stock (a) | 2,446 | | 2,446 |
| Add: | CECL phase-in (b) | — | | 59 |
| Common Equity Tier 1 capital before adjustments and deductions | 17,935 | | 15,789 |
| Less: | Goodwill, net of deferred taxes | 2,556 | | 2,574 |
| Intangible assets, net of deferred taxes | 7 | | 24 |
First 8 of 31 rows. The CSV has all of them.
Table 31 after “Figure 23. VaR for Significant Portfolios of Covered Positions”
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| 2025 | | 2024 | | | | | | | | | | |
| Three months ended December 31, | | | Three months ended December 31, | | | | | | | | | |
| Dollars in millions | High | Low | Mean | December 31, | | High | Low | Mean | December 31, | | | | |
| Trading account assets: | | | | | | | | | | | | | |
| Fixed income | $1.3 | | $.6 | | $.9 | | $.7 | | | $1.3 | $.4 | $.9 | $.8 |
| Derivatives: | | | | | | | | | | | | | |
| Interest rate | $.2 | | $.1 | | $.1 | | $.1 | | | $.6 | $.4 | $.5 | $.5 |
Table 32 after “Figure 24. Stressed VaR for Significant Portfolios of Covered Positions”
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| 2025 | | 2024 | | | | | | | | | | |
| Three months ended December 31, | | | Three months ended December 31, | | | | | | | | | |
| Dollars in millions | High | Low | Mean | December 31, | | High | Low | Mean | December 31, | | | | |
| Trading account assets: | | | | | | | | | | | | | |
| Fixed income | $2.3 | | $.9 | | $1.6 | | $2.3 | | | $5.2 | $1.3 | $3.3 | $4.8 |
| Derivatives: | | | | | | | | | | | | | |
| Interest rate | $.3 | | $.1 | | $.2 | | $.2 | | | $.4 | $.2 | $.3 | $.3 |
Table 33 after “Figure 25. Simulated Change in Net Interest Income”
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| December 31, 2025 | December 31, 2024 | | | | |
| Basis point change assumption | -200 | +200 | -200 | +200 | | |
| Tolerance level | (5.00)% | | (5.00)% | | (5.50)% | (5.50)% |
| Interest rate risk assessment | (0.35)% | | 0.41% | | 0.15% | (0.39)% |
Table 34 after “Figure 26. Portfolio Swaps and Options by Interest Rate Risk Management Strategy”
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| December 31, 2025 | | | | | | | | | | | |
| | | | Weighted-Average | | December 31, 2024 | | | | | | |
| Dollars in millions | Notional Amount | Fair Value | | Maturity (Years) | Receive Rate | Pay Rate | | Notional Amount | Fair Value | | | |
| Receive fixed/pay variable — conventional loans | $37,050 | | $66 | | | 1.7 | 3.3% | | 3.8% | $18,750 | $(442) | |
| Receive fixed/pay variable — conventional debt | 8,722 | | (198) | | | 4.2 | 2.7 | | 3.8 | 9,818 | (470) | |
| Receive fixed/pay variable — forward loans | 2,200 | | 40 | | | 2.6 | 4.1 | | 3.8 | 19,200 | (114) | |
| Receive fixed/pay variable — forward debt | — | | — | | | — | — | | — | 950 | (22) | |
| Pay fixed/receive variable — conventional debt | 50 | | — | | | 2.5 | 4.0 | | 3.6 | 50 | 1 | |
First 8 of 13 rows. The CSV has all of them.
| December 31, 2025 | Outlook | Short-Term Borrowings | Long-Term Deposits(a) | Senior Long-Term Debt | Subordinated Long-Term Debt | Capital Securities | Preferred Stock |
| KEYCORP | | | | | | | |
| Standard & Poor’s | Stable | A-2 | N/A | BBB | BBB- | BB | BB |
| Moody’s | Positive | P-2 | N/A | Baa2 | Baa2 | Baa3 | Ba1 |
| Fitch Ratings, Inc. | Stable | F1 | N/A | A- | N/A | BB+ | BB+ |
| DBRS, Inc. | Stable | R-1 (low) | N/A | A (low) | BBB (high) | BBB (high) | BBB (low) |
| KEYBANK | | | | | | | |
| Standard & Poor’s | Stable | A-2 | N/A | BBB+ | BBB | N/A | N/A |
First 8 of 11 rows. The CSV has all of them.
Table 36 after “Figure 28. Available Contingent Liquidity”
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| December 31, | | | |
| Dollars in billions | 2025 | 2024 | |
| Available contingent liquidity: | | | |
| Unpledged securities | $29.4 | | $25.5 |
| Net balances of federal funds sold and balances in our Federal Reserve account | 9.3 | | 17.4 |
| Unused secured borrowing capacity at the Federal Reserve Bank of Cleveland | 39.5 | | 36.7 |
| Unused secured borrowing capacity at the FHLB | 18.9 | | 18.9 |
| Total | $97.0 | | $98.5 |
Table 37 after “Figure 29. Allocation of the Allowance for Loan and Lease Losses”
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| 2025 | | 2024 | | | | | | |
| December 31,Dollars in millions | Total Allowance | Percent of Allowance to Total Allowance | Percent of Loan Type to Total Loans | Total Allowance | Percent of Allowance to Total Allowance | Percent of Loan Type to Total Loans | | | |
| Commercial and industrial | $745 | | 50.6% | 54.1% | | | $639 | 45.4% | 50.7% |
| Commercial real estate: | | | | | | | | | |
| Commercial mortgage | 252 | | 19.2 | 12.9 | | | 320 | 22.7 | 12.8 |
| Construction | 55 | | 3.5 | 2.7 | | | 51 | 3.6 | 2.8 |
| Total commercial real estate loans | 307 | | 22.7 | 15.6 | | | 371 | 26.3 | 15.6 |
| Commercial lease financing | 26 | | 1.7 | 2.1 | | | 27 | 1.9 | 2.6 |
First 8 of 15 rows. The CSV has all of them.
| Year ended December 31, | | | |
| Dollars in millions | 2025 | 2024 | |
| Commercial and industrial | $255 | | $305 |
| Commercial real estate: | | | |
| Commercial mortgage | 87 | | 38 |
| Construction | — | | — |
| Total commercial real estate loans | 87 | | 38 |
| Commercial lease financing | 6 | | 2 |
First 8 of 17 rows. The CSV has all of them.
| Year ended December 31, | | | |
| 2025 | 2024 | |
| Commercial and industrial | 0.46% | | 0.56% |
| Commercial real estate: | | | |
| Commercial mortgage | 0.65 | | 0.27 |
| Construction | 0.01 | | — |
| Total commercial real estate loans | 0.54 | | 0.22 |
| Commercial lease financing | 0.25 | | 0.05 |
First 8 of 15 rows. The CSV has all of them.
Table 40 after “Figure 32. Summary of Loan and Lease Loss Experience from Continuing Operations”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | |
| Average loans outstanding | $105,660 | | $107,724 |
| Allowance for loan and lease losses at beginning of period | $1,409 | | $1,508 |
| Loans charged off: | | | |
| Commercial and industrial | $312 | | $363 |
| Commercial real estate: | | | |
| Commercial mortgage | 94 | | 40 |
| Construction | — | | — |
First 8 of 47 rows. The CSV has all of them.
Table 41 after “Figure 33. Summary of Nonperforming Assets and Past Due Loans from Continuing Operations”
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| December 31, | | | |
| Dollars in millions | 2025 | 2024 | |
| Commercial and industrial | $256 | | $322 |
| Commercial real estate: | | | |
| Commercial mortgage | 157 | | 243 |
| Construction | — | | — |
| Total commercial real estate loans (a) | 157 | | 243 |
| Commercial lease financing | 7 | | — |
First 8 of 24 rows. The CSV has all of them.
Table 42 after “Figure 34. Summary of Changes in Nonperforming Loans from Continuing Operations”
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| | 2025 Quarters | | | | | | | |
| Dollars in millions | 2025 | Fourth | Third | Second | First | 2024 | | | |
| Balance at beginning of period | $758 | | $658 | | $696 | | $686 | $758 | $574 |
| Loans placed on nonaccrual status | 861 | | 248 | | 210 | | 233 | 170 | 1,140 |
| Charge-offs | (517) | | (124) | | (140) | | (127) | (126) | (526) |
| Loans sold | (20) | | (7) | | (13) | | — | — | (72) |
| Payments | (323) | | (124) | | (68) | | (74) | (57) | (259) |
| Transfers to OREO | (5) | | (1) | | (1) | | (1) | (2) | (6) |
First 8 of 10 rows. The CSV has all of them.
| Year ended December 31, | | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | | | |
| Tangible common equity to tangible assets at period end | | | | | | |
| Key shareholders’ equity (GAAP) | $20,381 | | $18,176 | | $14,637 | |
| Less: | Intangible assets | 2,760 | | 2,779 | | 2,806 |
| Preferred Stock (a) | 2,446 | | 2,446 | | 2,446 |
| Tangible common equity (non-GAAP) | $15,175 | | $12,951 | | $9,385 |
| Total assets (GAAP) | $184,381 | | $187,168 | | $188,281 | |
First 8 of 30 rows. The CSV has all of them.
Table 44 after “Adjusted noninterest expense and adjusted noninterest income are non-GAAP measures in that they are adjusted to exclude the impact of signif”
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| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | |
| Adjusted noninterest expense | | | | |
| Noninterest expense (GAAP) | $4,703 | | $4,545 | $4,734 |
| Adjustments: | | | | |
| Efficiency related expenses | — | | — | (131) |
| Pension settlement (other expense) | — | | — | (18) |
| FDIC special assessment (other expense) | 26 | | (25) | (190) |
First 8 of 15 rows. The CSV has all of them.
Table 45 after “The following table presents accounting guidance pending adoption.”
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| Standard | Required Adoption | Description | Effect on Financial Statements or Other Significant Matters |
| ASU 2024-03 and ASU 2025-01 Income Statement— Reporting Comprehensive Income—Expense Disaggregation Disclosures (Topic 220-40) | January 1, 2027 Early adoption is permitted. | The guidance requires public companies disclose additional information about certain types of costs and expenses. The guidance could be applied on a prospective or retrospective basis. | The guidance is not expected to have a material impact on Key’s disclosures. |
| ASU 2025-06—Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40) | January 1, 2028 Early adoption permitted. | The guidance revises the accounting for internal-use software by replacing prescriptive development stage guidance with a principle-based capitalization threshold. Entities are required to begin capitalizing costs when management commits funding and it is probable the software will be completed and used as intended. This guidance may be applied on a prospective, retrospective or modified retrospective basis. | We are currently evaluating the impact of this guidance on its financial condition and results of operations. |
| ASU 2025-08 Financial Instruments—Credit Losses (Topic 326): Purchased Loans | January 1, 2027 Early adoption is permitted. | This guidance expands the types of acquired financial assets that must use the gross‑up approach under ASC 326. Certain non‑PCD loans considered “seasoned” are now accounted for using the gross‑up approach at acquisition. All non‑PCD loans acquired in a business combination are considered “seasoned” and other acquired loans are considered “seasoned” if they were purchased at least 90 days after origination and the acquirer did not originate the loans. This guidance must be applied prospectively to loans that are acquired on or after the initial application date. | While we are currently evaluating the impact of this guidance on its financial condition and results of operations, we would also assess for early adoption upon any applicable future activity. |
| ASU 2025-09 Derivatives and Hedging (Topic 815) Hedge Accounting Improvements | January 1, 2027 Early adoption is permitted. | The accounting update expands cash flow hedge accounting by allowing the grouping of forecasted transactions with similar risk exposures. It introduces a model that allows entities to hedge forecasted interest payments on certain variable rate debt using simplified assumptions. The guidance also broadens hedge accounting for nonfinancial forecasted transactions, permitting eligible components of spot and forward purchases or sales to be designated as hedged risks. The amendments update hedge accounting for net written options to better reflect changes in interest rate markets proceeding the discontinuation of LIBOR. Further, this new guidance improves accounting for dual hedge strategies involving foreign currency debt by eliminating recognition mismatches and better reflecting the economics of combined interest rate and foreign exchange risk management. The guidance should be applied on a prospective basis. | We will early adopt this guidance within the first half of 2026 and do not expect it to have a material impact on our financial condition or results of operations. |
Table 46 after “ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA”
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| Page Number |
| Management’s Annual Report on Internal Control over Financial Reporting | 98 |
| Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting | 99 |
| Report of Independent Registered Public Accounting Firm (PCAOB ID: 42) | 100 |
| Consolidated Balance Sheets | 102 |
| Consolidated Statements of Income | 103 |
| Consolidated Statements of Comprehensive Income | 104 |
| Consolidated Statements of Changes in Equity | 105 |
First 8 of 35 rows. The CSV has all of them.
| December 31, | | | |
| Dollars in millions, except per share data | 2025 | 2024 | |
| ASSETS | | | |
| Cash and due from banks | $1,287 | | $1,743 |
| Short-term investments | 10,163 | | 17,504 |
| Trading account assets | 1,061 | | 1,283 |
| Securities available for sale | 39,596 | | 37,707 |
| Held-to-maturity securities (fair value: $8,313 and $6,837) | 8,622 | | 7,395 |
First 8 of 39 rows. The CSV has all of them.
Table 48 after “Consolidated Statements of Income”
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| Year ended December 31, | | | | |
| Dollars in millions, except per share amounts | 2025 | 2024 | 2023 | |
| INTEREST INCOME | | | | |
| Loans | $5,749 | | $6,026 | $6,219 |
| Loans held for sale | 61 | | 60 | 61 |
| Securities available for sale | 1,599 | | 1,142 | 793 |
| Held-to-maturity securities | 264 | | 284 | 312 |
| Trading account assets | 56 | | 61 | 55 |
First 8 of 61 rows. The CSV has all of them.
Table 49 after “Consolidated Statements of Comprehensive Income”
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| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | |
| Net income (loss) | $1,829 | | $(161) | $967 |
| Other comprehensive income (loss), net of tax: | | | | |
| Net unrealized gains (losses) on securities available for sale, net of income taxes of $(326), $(459), and $(222) | 1,018 | | 1,456 | 705 |
| Net unrealized gains (losses) on derivative financial instruments, net of income taxes of $(137), $(104), and $(114) | 427 | | 329 | 361 |
| Net pension and postretirement benefit costs, net of income taxes of $(20), $8, and $0 | 65 | | (26) | — |
| Total other comprehensive income (loss), net of tax | 1,510 | | 1,759 | 1,066 |
First 8 of 9 rows. The CSV has all of them.
Table 50 after “Consolidated Statements of Changes in Equity”
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| Key Shareholders’ Equity | | | | | | | | | | | | | | |
| Dollars in millions, except per share amounts | Preferred Shares Outstanding (000) | Common Shares Outstanding (000) | Preferred Stock | Common Shares | Capital Surplus | Retained Earnings | Treasury Stock, at Cost | Accumulated Other Comprehensive Income (Loss) | | Total Shareholder’s Equity | | | | | |
| BALANCE AT DECEMBER 31, 2022 | 1,996 | | 933,325 | | $2,500 | | $1,257 | | $6,286 | | $15,616 | | $(5,910) | $(6,295) | $13,454 |
| Net income (loss) | | | | | | 967 | | | | | 967 | | | | |
| Other comprehensive income (loss) | | | | | | | | 1,066 | | | 1,066 | | | | |
| Deferred compensation | | | | | (5) | | | | | | (5) | | | | |
| Cash dividends declared | | | | | | | | | | | | | | | |
| Common Shares ($.82 per share) | | | | | | (768) | | | | | (768) | | | | |
First 8 of 45 rows. The CSV has all of them.
Table 51 after “Consolidated Statements of Cash Flows”
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| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | |
| OPERATING ACTIVITIES | | | | |
| Net income (loss) | $1,829 | | $(161) | $967 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | |
| Provision for credit losses | 471 | | 335 | 489 |
| Depreciation, amortization, and accretion, net | 21 | | 73 | 154 |
| Increase in cash surrender value of corporate-owned life insurance | (123) | | (118) | (110) |
First 8 of 59 rows. The CSV has all of them.
Table 52 after “Our basic and diluted earnings per Common Share are calculated as follows:”
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| Year ended December 31, | | | | |
| Dollars in millions, except per share amounts | 2025 | 2024 | 2023 | |
| EARNINGS | | | | |
| Income (loss) from continuing operations | $1,828 | | $(163) | $964 |
| Less: Dividends on preferred stock | 143 | | 143 | 143 |
| Income (loss) from continuing operations attributable to Key common shareholders | 1,685 | | (306) | 821 |
| Income (loss) from discontinued operations, net of taxes | 1 | | 2 | 3 |
| Net income (loss) attributable to Key common shareholders | $1,686 | | $(304) | $824 |
First 8 of 19 rows. The CSV has all of them.
| December 31, | | | |
| Dollars in millions | 2025 | 2024 | |
| Commercial and industrial (b)(c) | $57,688 | | $52,909 |
| Commercial real estate: | | | |
| Commercial mortgage | 13,707 | | 13,310 |
| Construction | 2,844 | | 2,936 |
| Total commercial real estate loans | 16,551 | | 16,246 |
| Commercial lease financing (c) | 2,270 | | 2,736 |
First 8 of 15 rows. The CSV has all of them.
Table 54 after “Twelve Months Ended December 31, 2025:”
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| Dollars in millions | December 31, 2024 | Provision | | Charge-offs | Recoveries | December 31, 2025 | | |
| Commercial and Industrial | $639 | | $361 | | | $(312) | $57 | $745 |
| Commercial real estate: | | | | | | | | |
| Real estate — commercial mortgage | 320 | | 19 | | | (94) | 7 | 252 |
| Real estate — construction | 51 | | 4 | | | — | — | 55 |
| Total commercial real estate loans | 371 | | 23 | | | (94) | 7 | 307 |
| Commercial lease financing | 27 | | 5 | | | (6) | — | 26 |
| Total commercial loans | 1,037 | | 389 | | | (412) | 64 | 1,078 |
First 8 of 16 rows. The CSV has all of them.
| Dollars in millions | December 31, 2023 | Provision | | Charge-offs | Recoveries | December 31, 2024 | | |
| Commercial and Industrial | $556 | | $388 | | | $(363) | $58 | $639 |
| Commercial real estate: | | | | | | | | |
| Real estate — commercial mortgage | 419 | | (61) | | | (40) | 2 | 320 |
| Real estate — construction | 52 | | (1) | | | — | — | 51 |
| Total commercial real estate loans | 471 | | (62) | | | (40) | 2 | 371 |
| Commercial lease financing | 33 | | (4) | | | (7) | 5 | 27 |
| Total commercial loans | 1,060 | | 322 | | | (410) | 65 | 1,037 |
First 8 of 16 rows. The CSV has all of them.
Table 56 after “Twelve Months Ended December 31, 2023”
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| Dollars in millions | December 31, 2022 | Provision | | Charge-offs | Recoveries | December 31, 2023 | | |
| Commercial and industrial | $601 | | $99 | | | $(188) | $44 | $556 |
| Commercial real estate: | | | | | | | | |
| Real estate — commercial mortgage | 203 | | 253 | | | (39) | 2 | 419 |
| Real estate — construction | 28 | | 23 | | | — | 1 | 52 |
| Total commercial real estate loans | 231 | | 276 | | | (39) | 3 | 471 |
| Commercial lease financing | 32 | | (4) | | | — | 5 | 33 |
| Total commercial loans | 864 | | 371 | | | (227) | 52 | 1,060 |
First 8 of 16 rows. The CSV has all of them.
| As of December 31, 2025 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | | | | | | | | | | |
| Amortized Cost Basis by Origination Year and Internal Risk Rating | | | | | | | | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Total | | | | | | |
| Commercial and Industrial | | | | | | | | | | | | | |
| Risk Rating: | | | | | | | | | | | | | |
| Pass | $9,473 | | $5,864 | | $2,263 | | $5,313 | | $2,648 | $4,115 | $24,267 | $174 | $54,117 |
| Criticized (Accruing) | 139 | | 218 | | 171 | | 463 | | 259 | 493 | 1,535 | 37 | 3,315 |
| Criticized (Nonaccruing) | 1 | | 14 | | 18 | | 54 | | 21 | 33 | 115 | — | 256 |
First 8 of 33 rows. The CSV has all of them.
| As of December 31, 2024 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | | | | | | | | | |
| Amortized Cost Basis by Origination Year and Internal Risk Rating | | | | | | | | | | | |
| Dollars in millions | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Total | | | | | |
| Commercial and Industrial | | | | | | | | | | | | |
| Risk Rating: | | | | | | | | | | | | |
| Pass | $6,345 | | $3,097 | | $7,119 | | $3,934 | $1,617 | $3,969 | $22,709 | $115 | $48,905 |
| Criticized (Accruing) | 172 | | 219 | | 597 | | 419 | 208 | 476 | 1,550 | 41 | 3,682 |
| Criticized (Nonaccruing) | 23 | | 13 | | 68 | | 30 | 2 | 31 | 153 | 2 | 322 |
First 8 of 33 rows. The CSV has all of them.
| As of December 31, 2025 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | | | | | | | | | |
| Amortized Cost Basis by Origination Year and FICO Score | | | | | | | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Total | | | | | |
| Real estate — residential mortgage | | | | | | | | | | | | |
| FICO Score: | | | | | | | | | | | | |
| 750 and above | $358 | | $224 | | $607 | | $5,342 | $6,738 | $3,403 | $— | $— | $16,672 |
| 660 to 749 | 69 | | 36 | | 86 | | 504 | 582 | 420 | — | — | 1,697 |
| Less than 660 | 2 | | 11 | | 23 | | 87 | 73 | 149 | — | — | 345 |
First 8 of 37 rows. The CSV has all of them.
| As of December 31, 2024 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | | | | | | | | | |
| Amortized Cost Basis by Origination Year and FICO Score | | | | | | | | | | | |
| Dollars in millions | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Total | | | | | |
| Real estate — residential mortgage | | | | | | | | | | | | |
| FICO Score: | | | | | | | | | | | | |
| 750 and above | $281 | | $669 | | $5,720 | | $7,203 | $2,247 | $1,510 | $— | $— | $17,630 |
| 660 to 749 | 67 | | 116 | | 597 | | 655 | 199 | 280 | — | — | 1,914 |
| Less than 660 | 4 | | 13 | | 81 | | 63 | 24 | 134 | — | — | 319 |
First 8 of 37 rows. The CSV has all of them.
| December 31, 2025 | Current(b)(c) | 30-59Days PastDue (b) | 60-89Days PastDue (b) | 90 andGreaterDays PastDue (b) | Non-performing Loans | Total Past Due and Non-performing Loans | TotalLoans (d) | | | |
| Dollars in millions | | | | | | | | | | |
| LOAN TYPE(a) | | | | | | | | | | |
| Commercial and industrial | $57,336 | | $38 | | $17 | | $41 | $256 | $352 | $57,688 |
| Commercial real estate: | | | | | | | | | | |
| Commercial mortgage | 13,450 | | 47 | | 20 | | 33 | 157 | 257 | 13,707 |
| Construction | 2,843 | | — | | — | | 1 | — | 1 | 2,844 |
| Total commercial real estate loans | 16,293 | | 47 | | 20 | | 34 | 157 | 258 | 16,551 |
First 8 of 16 rows. The CSV has all of them.
Table 62 after “Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums.”
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| December 31, 2024 | Current(b)(c) | 30-59Days PastDue (b) | 60-89Days PastDue (b) | 90 andGreaterDays PastDue (b) | Non-performing Loans | Total Past Due and Non-performing Loans | | TotalLoans (d) | | | |
| Dollars in millions | | | | | | | | | | | |
| LOAN TYPE(a) | | | | | | | | | | | |
| Commercial and industrial | $52,473 | | $48 | | $21 | | $45 | | $322 | $436 | $52,909 |
| Commercial real estate: | | | | | | | | | | | |
| Commercial mortgage | 13,018 | | 4 | | 29 | | 16 | | 243 | 292 | 13,310 |
| Construction | 2,932 | | — | | — | | 4 | | — | 4 | 2,936 |
| Total commercial real estate loans | 15,950 | | 4 | | 29 | | 20 | | 243 | 296 | 16,246 |
First 8 of 16 rows. The CSV has all of them.
| As of December 31, 2025 | Interest Rate Reduction | Term Extension | Other | Combination(a) | Total | | | | | |
| Dollars in millions | Amortized Cost Basis | | Amortized Cost Basis | | Amortized Cost Basis | Amortized Cost Basis | Amortized Cost Basis | % of Total Loan Type | | |
| LOAN TYPE | | | | | | | | | | |
| Commercial and Industrial | $2 | | | $236 | | $22 | | $44 | $304 | 0.53% |
| Commercial real estate: | | | | | | | | | | |
| Commercial mortgage | — | | | 159 | | 5 | | 67 | 231 | 1.69 |
| Construction | — | | | 30 | | — | | — | 30 | 1.05 |
| Total commercial real estate loans | — | | | 189 | | 5 | | 67 | 261 | 1.58 |
First 8 of 15 rows. The CSV has all of them.
Table 64 after “Combination modifications consist primarily of loans modified with both an interest rate reduction and a term extension.”
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| As of December 31, 2024 | Interest Rate Reduction | Term Extension | Other | Combination(a) | Total | | | | | |
| Dollars in millions | Amortized Cost Basis | | Amortized Cost Basis | | Amortized Cost Basis | Amortized Cost Basis | Amortized Cost Basis | % of Total Loan Type | | |
| LOAN TYPE | | | | | | | | | | |
| Commercial and Industrial | $— | | | $118 | | $25 | | $20 | $163 | 0.31% |
| Commercial real estate: | | | | | | | | | | |
| Commercial mortgage | 28 | | | 236 | | 22 | | 21 | 307 | 2.31 |
| Construction | — | | | 29 | | — | | — | 29 | 0.99 |
| Total commercial real estate loans | 28 | | | 265 | | 22 | | 21 | 336 | 2.07 |
First 8 of 15 rows. The CSV has all of them.
Table 65 after “Combination modifications consist primarily of loans modified with both an interest rate reduction and a term extension.”
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| As of December 31, 2023 | Interest Rate Reduction | Term Extension | Other | Combination(a) | Total | | | | | |
| Dollars in millions | Amortized Cost Basis | | Amortized Cost Basis | | Amortized Cost Basis | Amortized Cost Basis | Amortized Cost Basis | % of Total Loan Type | | |
| LOAN TYPE | | | | | | | | | | |
| Commercial and Industrial | $— | | | $180 | | $49 | | $34 | $263 | 0.47% |
| Commercial real estate: | | | | | | | | | | |
| Commercial mortgage | — | | | 4 | | 2 | | — | 6 | 0.04 |
| Construction | — | | | — | | — | | — | — | — |
| Total commercial real estate loans | — | | | 4 | | 2 | | — | 6 | 0.03 |
First 8 of 15 rows. The CSV has all of them.
| Twelve months ended December 31, 2025 | Weighted-average Interest Rate Change | Weighted-average Term Extension (in years) | |
| LOAN TYPE | | | |
| Commercial and Industrial | (0.87)% | | 1.24 |
| Commercial mortgage | —% | | 0.96 |
| Construction | —% | | 0.50 |
| Real estate — residential mortgage | (1.86)% | | 5.85 |
| Home equity loans | (2.97)% | | 7.55 |
| Other consumer loans | (3.65)% | | 1.20 |
First 8 of 9 rows. The CSV has all of them.
| Twelve months ended December 31, 2024 | Weighted-average Interest Rate Change | Weighted-average Term Extension (in years) | |
| LOAN TYPE | | | |
| Commercial and Industrial | (4.12)% | | 1.75 |
| Commercial mortgage | (1.49)% | | 0.66 |
| Construction | —% | | 2.87 |
| Real estate — residential mortgage | (1.81)% | | 6.15 |
| Home equity loans | (4.03)% | | 6.53 |
| Other consumer loans | (4.06)% | | 0.77 |
First 8 of 9 rows. The CSV has all of them.
| Twelve months ended December 31, 2023 | Weighted-average Interest Rate Change | Weighted-average Term Extension (in years) | |
| LOAN TYPE | | | |
| Commercial and Industrial | (5.69)% | | 0.59 |
| Commercial mortgage | —% | | 1.37 |
| Real estate — residential mortgage | (1.97)% | | 7.58 |
| Home equity loans | (4.02)% | | 6.87 |
| Other consumer loans | (3.62)% | | 1.01 |
| Credit cards | (14.90)% | | 1.00 |
Table 69 after “Key considers modifications to borrowers experiencing financial difficulty that subsequently become 90 days or more past due under modified ”
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| Twelve months ended December 31, 2025 | Interest Rate Reduction | | | | | | |
| Dollars in millions | Term Extension | Other | Combination | Total | | | |
| LOAN TYPE | | | | | | | |
| Commercial and Industrial | $— | | $2 | | $5 | $— | $7 |
| Commercial real estate | | | | | | | |
| Commercial mortgage | — | | 18 | | — | — | 18 |
| Total commercial real estate loans | — | | 18 | | — | — | 18 |
| Total commercial loans | $— | | $20 | | $5 | $— | $25 |
First 8 of 12 rows. The CSV has all of them.
| Twelve months ended December 31, 2024 | Interest Rate Reduction | | | | | | | | |
| Dollars in millions | Term Extension | Other | Combination | Total | | | | | |
| LOAN TYPE | | | | | | | | | |
| Commercial and Industrial | $— | | $22 | | $— | | $1 | | $23 |
| Commercial real estate | | | | | | | | | |
| Commercial mortgage | 11 | | — | | | — | | 11 | |
| Total commercial real estate loans | 11 | | — | | — | | — | | 11 |
| Total commercial loans | $11 | | $22 | | $— | | $1 | | $34 |
First 8 of 12 rows. The CSV has all of them.
| Twelve months ended December 31, 2023 | | | | | | | |
| Dollars in millions | Interest Rate Reduction | Term Extension | Other | Combination | Total | | |
| LOAN TYPE | | | | | | | |
| Commercial and Industrial | $— | | $7 | | $— | $3 | $10 |
| Commercial real estate | | | | | | | |
| Commercial mortgage | — | | — | | 1 | — | 1 |
| Total commercial real estate loans | — | | 7 | | 1 | 3 | 11 |
| Commercial lease financing | — | | — | | — | — | — |
First 8 of 11 rows. The CSV has all of them.
Table 72 after “Key closely monitors the performance of loans that are modified for borrowers experiencing financial difficulty to understand the effectiven”
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| As of December 31, 2025 | Current | 30-89 Days Past Due | | 90 and Greater Days Past Due | Total | | |
| Dollars in millions | | | | | | | |
| LOAN TYPE | | | | | | | |
| Commercial and Industrial | $286 | | $7 | | | $11 | $304 |
| Commercial real estate | | | | | | | |
| Commercial mortgage | 184 | | 42 | | | 5 | 231 |
| Construction | 30 | | — | | | — | 30 |
| Total commercial real estate loans | 214 | | 42 | | | 5 | 261 |
First 8 of 16 rows. The CSV has all of them.
| As of December 31, 2024 | Current | 30-89 Days Past Due | | 90 and Greater Days Past Due | Total | | |
| Dollars in millions | | | | | | | |
| LOAN TYPE | | | | | | | |
| Commercial and Industrial | $154 | | $3 | | | $6 | $163 |
| Commercial real estate | | | | | | | |
| Commercial mortgage | 260 | | 19 | | | 28 | 307 |
| Construction | 29 | | — | | | — | 29 |
| Total commercial real estate loans | 289 | | 19 | | | 28 | 336 |
First 8 of 15 rows. The CSV has all of them.
Table 74 after “The following table presents the amortized cost as of December 31, 2023, of loans modified during the 12 months then ended, by aging.”
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| As of December 31, 2023 | Current | 30-89 Days Past Due | | 90 and Greater Days Past Due | Total | | |
| Dollars in millions | | | | | | | |
| LOAN TYPE | | | | | | | |
| Commercial and Industrial | $238 | | $25 | | | $— | $263 |
| Commercial real estate | | | | | | | |
| Commercial mortgage | 6 | | — | | | — | 6 |
| Total commercial real estate loans | $244 | | $25 | | | $— | $269 |
| Total commercial loans | $244 | | $25 | | | $— | $269 |
First 8 of 14 rows. The CSV has all of them.
Table 75 after “Changes in the liability for credit losses on lending-related commitments are summarized as follows:”
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| Twelve months ended December 31, | | | |
| Dollars in millions | | 2025 | 2024 | |
| Balance at beginning of period | | $290 | | $296 |
| Provision (credit) for losses on off balance sheet exposures | | 23 | | (6) |
| Other | | — | | — |
| Balance at end of period | | $313 | | $290 |
Table 76 after “The following tables present assets and liabilities measured at fair value on a recurring basis at December 31, 2025, and December 31, 2024.”
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| December 31, 2025 | December 31, 2024 | | | | | | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | | | | |
| ASSETS MEASURED ON A RECURRING BASIS | | | | | | | | | | | | |
| Trading account assets: | | | | | | | | | | | | |
| U.S. Treasury, agencies and corporations | $— | | $674 | | $— | | $674 | | $— | $930 | $— | $930 |
| States and political subdivisions | — | | 60 | | — | | 60 | | — | 127 | — | 127 |
| Other mortgage-backed securities | — | | 316 | | — | | 316 | | — | 183 | — | 183 |
| Other securities | — | | 6 | | — | | 6 | | — | 25 | — | 25 |
First 8 of 54 rows. The CSV has all of them.
Table 77 after “The following table describes the valuation techniques and significant inputs used to measure the classes of assets and liabilities reported”
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| Asset/liability class | Valuation technique | Valuation hierarchy classification(s) |
| Securities (includes trading account assets, securities available for sale, and U.S. Treasury Bills classified as short-term investments) | Fair value of level 1 securities is determined by:• Quoted market prices available in an active market for identical securities. This includes exchange-traded equity securities.Fair value of level 2 securities is determined by:• Pricing models (either by a third party pricing service or internally). Inputs include: yields, benchmark securities, bids, offers, actual trade data (i.e., spreads, credit ratings, and interest rates) for comparable assets, spread tables, matrices, high-grade scales, and option-adjusted spreads.• Observable market prices of similar securities. The valuations provided by the third-party pricing service are based on observable market inputs, which include benchmark yields, reported trades, issuer spreads, benchmark securities, bids, offers, and reference data obtained from market research publications. Inputs used by the third-party pricing service in valuing CMOs and other mortgage-backed securities also include new issue data, monthly payment information, whole loan collateral performance, and “To Be Announced” prices. In valuations of securities issued by state and political subdivisions, inputs used by the third-party pricing service also include material event notices. We regularly validate the pricing methodologies of valuations derived from a third-party pricing service to ensure the fair value determination is consistent with applicable accounting guidance and that our assets are properly classified in the fair value hierarchy. To perform this validation, we: •review documentation received from our third-party pricing service regarding the inputs used in its valuations and determine a level assessment for each category of securities;•substantiate actual inputs used for a sample of securities by comparing the actual inputs used by our third-party pricing service to comparable inputs for similar securities; and•substantiate the fair values determined for a sample of securities by comparing the fair values provided by our third-party pricing service to prices from other independent sources for the same and similar securities. We analyze variances and conduct additional research with our third-party pricing service and take appropriate steps based on our findings. | Level 1 and 2 (primarily Level 2) |
| Commercial loans (trading account assets) | Fair value is based on:• Observable market price spreads for similar loans. Valuations reflect prices within the bid-ask spread that are most representative of fair value. | Level 2 |
| Principal investments (indirect) | Indirect principal investments include primary and secondary investments in private equity funds engaged mainly in venture- and growth-oriented investing. These investments do not have readily determinable fair values and qualify for the practical expedient to estimate fair value based upon net asset value per share (or its equivalent, such as member units or an ownership interest in partners’ capital to which a proportionate share of net assets is attributed).Indirect principal investments are also accounted for as investment companies, whereby each investment is adjusted to fair value with any net realized or unrealized gain/loss recorded in the current period’s earnings. The fair value and related unfunded commitments of our indirect principal investments at December 31, 2025, was $9 million and $1 million, respectively. No additional financial support was provided for the years ended December 31, 2025, and December 31, 2024. At December 31, 2025, no significant liquidation of the underlying investments has been communicated to Key. | NAV |
| Asset/liability class | Valuation technique | Valuation hierarchy classification(s) |
| Other direct equity investments | Fair value is determined using:• Discounted cash flows• Operating performance and market/exit multiples of comparable businesses• Other unique facts and circumstances related to each individual investmentFor level 3 securities, increases in the discount rate applied in the discounted cash flow models would negatively affect the fair value. Increases in valuation multiples of comparable companies would positively affect the fair value. | Level 3 |
| Other direct and indirect equity investments (NAV) | Certain direct and indirect investments do not have readily determinable fair values and qualify for the practical expedient in the accounting guidance that allows us to estimate fair value based upon net asset value per share. These are typically comprised of investments in venture capital funds engaged mainly in venture- and growth-oriented investing. The unfunded commitments of these investments as of December 31, 2025, totaled $57 million. | NAV |
| Loans held for sale and held for investment (residential) | Residential mortgage loans held for sale are accounted for at fair value. Fair values are based on:• Quoted market prices, where available• Prices for other traded mortgage loans with similar characteristics• Purchase commitments and bid information received from market participantsPrices are adjusted as necessary to include:• The embedded servicing value in the loans• The specific characteristics of certain loans that are priced based on the pricing of similar loans. Residential loans held for investment: Certain residential loans held for sale contain salability exceptions that make them unable to be sold into the performing loan sales market. Loans in this category are transferred to the held to maturity loan portfolio and are included in “Loans, net of unearned income” on the balance sheet. This type of loan is classified as level 3 in the valuation hierarchy as transaction details regarding sales of this type of loan are often unavailable. Fair value is based upon:• Unobservable bid information from brokers and investors Higher (lower) unobservable bid information would have resulted in higher (lower) fair value measurements. | Level 2 and 3 (primarily level 2) |
| Derivatives | Certain foreign exchanged derivative instruments are able to be valued using quoted prices in active markets and are therefore classified as Level 1 instruments. The majority of our derivative positions are Level 2 and are valued using internally developed models based on market convention and observable market inputs. These derivative contracts include interest rate swaps, commodity swaps, certain options, floors, cross currency swaps, credit default swaps, and forward mortgage loan sale commitments. Significant inputs used in the valuation models include:• SOFR and Overnight Index Swap (OIS) curves, index pricing curves, foreign currency curves• Volatility surfaces (a three-dimensional graph of implied volatility against strike price and maturity)We have customized derivative instruments and risk participations that are classified as Level 3 instruments. These derivative positions are valued using internally developed models, with inputs consisting of available market data, including: • Credit spreads and interest rates The unobservable internally derived assumptions include: • Loss given default• Internal risk assessments of customersThe fair value represents an estimate of the amount that the risk participation counterparty would need to pay/receive as of the measurement date based on the probability of customer default on the swap transaction and the fair value of the underlying customer swap. Therefore, for sold risk participation agreements, a higher loss probability and a lower credit rating would negatively affect the fair value of the risk participations and a lower loss probability and higher credit rating would positively affect the fair value of the risk participations. (For purchased risk participation agreements, higher loss probabilities and lower credit ratings would positively affect the fair value.) | Level 1, 2, and 3 (primarily level 2) |
| Asset/liability class | Valuation technique | Valuation hierarchy classification(s) |
| Derivatives (continued) | We use interest rate lock commitments for our residential mortgage business, which are classified as Level 3 instruments. The significant components of the valuation model include: • Interest rates observable in the market• Investor supplied prices for similar loans and securities• The probability of the loan closing (i.e. the "pull-through" amount, a significant unobservable input). Increases (decreases) in the probability of the loan closing would have resulted in higher (lower) fair value measurements.Valuation of residential mortgage forward sale commitments utilizes observable market prices of comparable commitments and mortgage securities (Level 2). The fair values of our derivatives include a credit valuation adjustment related to both counterparty and our own creditworthiness. The credit component considers master netting and collateral agreements and is determined by the individual counterparty based on potential future exposures, expected recovery rates, and market-implied probabilities of default. | Level 1, 2, and 3 (primarily level 2) |
| Liability for short positions | This includes fixed income securities held by our broker dealer in its trading inventory. Fair value of level 1 securities is determined by:• Quoted market prices available in an active market for identical securitiesFair value of level 2 securities is determined by:• Observable market prices of similar securities• Market activity, spreads, credit ratings and interest rates for each security type | Level 1 and 2 |
Table 80 after “The following table presents our assets measured at fair value on a nonrecurring basis at December 31, 2025, and December 31, 2024:”
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| December 31, 2025 | December 31, 2024 | | | | | | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | | | | |
| ASSETS MEASURED ON A NONRECURRING BASIS | | | | | | | | | | | | |
| Collateral-dependent loans | $— | | $— | | $56 | | $56 | | $— | $— | $152 | $152 |
| Accrued income and other assets | — | | — | | 32 | | 32 | | — | — | 14 | 14 |
| Total assets on a nonrecurring basis at fair value | $— | | $— | | $88 | | $88 | | $— | $— | $166 | $166 |
| Asset/liability class | Valuation technique | Valuation hierarchy classification(s) |
| Collateral-dependent loans | When a loan is collateral-dependent, the fair value of the loan is determined based on the fair value of the underlying collateral less estimated selling costs. | Level 3 |
| OREO, other repossessed personal properties, and right-of-use assets(a) | OREO, other repossessed properties, and right-of-use assets are valued based on: • Appraisals and third-party price opinions, less estimated selling costs Generally, we classify these assets as Level 3, but OREO and other repossessed properties for which we receive binding purchase agreements are classified as Level 2. Returned lease inventory is valued based on market data for similar assets and is classified as Level 2. | Level 2 and 3 |
| Other equity investments | We have other investments in equity securities that do not have readily determinable fair values and do not qualify for the practical expedient to measure the investment using a net asset value per share. We have elected to measure these securities at cost less impairment plus or minus adjustments due to observable orderly transactions. Impairment is recorded when there is evidence that the expected fair value of the investment has declined to below the recorded cost. At each reporting period, we assess if these investments continue to qualify for this measurement alternative. At December 31, 2025, and December 31, 2024, the carrying amount of equity investments recorded under this method was $467 million and $394 million, respectively. We recorded no impairment for the year ended December 31, 2025. We recorded $5 million impairment for the year ended December 31, 2024. | Level 3 |
| Mortgage Servicing Rights(a) | Refer to Note 8 (“Mortgage Servicing Assets”) | Level 3 |
Table 82 after “The range and weighted-average of the significant unobservable inputs used to measure the fair value our material Level 3 recurring and nonr”
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| Level 3 Asset (Liability) | Valuation Technique | Significant Unobservable Input | Range(Weighted-Average) (a) | | | | |
| Dollars in millions | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | | | | |
| Recurring | | | | | | | | |
| Loans, net of unearned income (residential) | $11 | | $10 | | Market comparable pricing | Comparability factor | 74.30%-99.00% (84.99%) | 68.00 - 95.00% (77.48%) |
| Derivative instruments: | | | | | | | | |
| Interest rate | (3) | | (4) | | Discounted cash flows | Probability of default | .02 - 100% (4.40%) | .02 - 100% (5.00%) |
| | | | Loss given default | 0 - 1 (.49) | 0 - 1 (.50) | | |
| Insignificant level 3 assets, net of liabilities(b) | 4 | | 2 | | | | | |
First 8 of 12 rows. The CSV has all of them.
| December 31, 2025 | | | | | | |
| Carrying Amount | Fair Value | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | | Total | | |
| FINANCIAL ASSETS | | | | | | | |
| Cash and short-term investments (a) | $11,450 | | $11,450 | $— | | $— | $11,450 |
| Held-to-maturity securities (b) | 8,622 | | — | 8,313 | | — | 8,313 |
| Other investments (c) | 863 | | — | — | | 863 | 863 |
| Loans, net of unearned income (d) | 105,103 | | — | — | | 101,946 | 101,946 |
First 8 of 14 rows. The CSV has all of them.
| December 31, 2024 | | | | | | |
| Carrying Amount | Fair Value | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | | Total | | |
| FINANCIAL ASSETS | | | | | | | |
| Cash and short-term investments (a) | $19,247 | | $19,247 | $— | | $— | $19,247 |
| Held-to-maturity securities (b) | 7,395 | | — | 6,837 | | — | 6,837 |
| Other investments (c) | 967 | | — | — | | 967 | 967 |
| Loans, net of unearned income (d) | 102,841 | | — | — | | 99,105 | 99,105 |
First 8 of 14 rows. The CSV has all of them.
| 2025 | | 2024 | | | | | | | | | | |
| December 31,Dollars in millions | AmortizedCost (a)(b) | GrossUnrealizedGains | GrossUnrealizedLosses | FairValue | | AmortizedCost(a)(b) | GrossUnrealizedGains | GrossUnrealizedLosses | FairValue | | | | |
| SECURITIES AVAILABLE FOR SALE | | | | | | | | | | | | | |
| U.S. Treasury, agencies, and corporations | $7,842 | | $61 | | $17 | | $7,886 | | | $8,928 | $20 | $44 | $8,904 |
| Agency residential collateralized mortgage obligations | 10,269 | | 4 | | 1,708 | | 8,565 | | | 11,409 | 8 | 2,193 | 9,224 |
| Agency residential mortgage-backed securities | 19,451 | | 201 | | 457 | | 19,195 | | | 16,038 | 3 | 872 | 15,169 |
| Agency commercial mortgage-backed securities | 4,284 | | 1 | | 335 | | 3,950 | | | 4,927 | — | 517 | 4,410 |
| Total securities available for sale | $41,846 | | $267 | | $2,517 | | $39,596 | | | $41,302 | $31 | $3,626 | $37,707 |
First 8 of 15 rows. The CSV has all of them.
Table 86 after “The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded as o”
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| Duration of Unrealized Loss Position | | | | | | | | | |
| Less than 12 Months | | 12 Months or Longer | | Total | | | | | |
| Dollars in millions | Fair Value | GrossUnrealizedLosses | | Fair Value | GrossUnrealizedLosses | | Fair Value | GrossUnrealizedLosses | | |
| December 31, 2025 | | | | | | | | | | |
| Securities available for sale: | | | | | | | | | | |
| U.S. Treasury, agencies, and corporations | $— | | $— | | | $525 | | $17 | $525 | $17 |
| Agency residential collateralized mortgage obligations | — | | — | | | 7,677 | | 1,708 | 7,677 | 1,708 |
| Agency residential mortgage-backed securities | 1,226 | | 7 | | | 5,583 | | 450 | 6,809 | 457 |
First 8 of 29 rows. The CSV has all of them.
Table 87 after “The following table presents gross realized gains and losses associated with our securities available for sale portfolio for the noted perio”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | 2023 | |
| Securities available for sale | | | | |
| Realized gains | $— | | $— | $4 |
| Realized (losses) | — | | (1,863) | (8) |
Table 88 after “The following table shows our securities by remaining maturity at December 31, 2025. CMOs, other mortgage-backed securities, and asset-backe”
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| Securities Available for Sale | Held-to-Maturity Securities | | | | |
| December 31, 2025 | Amortized Cost | FairValue | | AmortizedCost | FairValue | |
| Dollars in millions | | | | | | |
| Due in one year or less | $3,070 | | $3,085 | | $472 | $467 |
| Due after one through five years | 10,796 | | 10,504 | | 2,231 | 2,176 |
| Due after five through ten years | 21,855 | | 20,214 | | 4,796 | 4,671 |
| Due after ten years | 6,125 | | 5,793 | | 1,123 | 999 |
| Total | $41,846 | | $39,596 | | $8,622 | $8,313 |
| December 31, 2025 | | December 31, 2024 | | | | | | |
| | Fair Value (a) | | Fair Value (a) | | | | | |
| Dollars in millions | NotionalAmount | DerivativeAssets | DerivativeLiabilities | NotionalAmount | DerivativeAssets | DerivativeLiabilities | | | |
| Derivatives designated as hedging instruments: | | | | | | | | | |
| Interest rate | $64,228 | | $(13) | $4 | | | $64,701 | $(4) | $3 |
| Derivatives not designated as hedging instruments: | | | | | | | | | |
| Interest rate | 74,994 | | 145 | 573 | | | 72,215 | 114 | 962 |
| Foreign exchange | 5,767 | | 83 | 80 | | | 6,516 | 124 | 117 |
First 8 of 17 rows. The CSV has all of them.
Table 90 after “The following tables summarize the amounts that were recorded on the balance sheet as of December 31, 2025 and December 31, 2024, related to”
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| December 31, 2025 | | | | |
| Dollars in millions | Balance sheet line item in which the hedge item is included | Carrying amount of hedged item(a) | Hedge accounting basis adjustment - active hedges | Hedge accounting basis adjustment - discontinued hedges | |
| Interest rate contracts | Long-term debt | $8,504 | | $(199) | $(3) |
| Interest rate contracts | Securities available for sale(b) | 12,843 | | (100) | 14 |
Table 91 after “The following tables summarize the amounts that were recorded on the balance sheet as of December 31, 2025 and December 31, 2024, related to”
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| December 31, 2024 | | | | |
| Dollars in millions | Balance sheet line item in which the hedge item is included | Carrying amount of hedged item(a) | Hedge accounting basis adjustment - active hedges | Hedge accounting basis adjustment - discontinued hedges | |
| Interest rate contracts | Long-term debt | $10,249 | | $(490) | $(4) |
| Interest rate contracts | Securities available for sale(b) | 12,097 | | 5 | 17 |
Table 92 after “The following tables summarize the effect of fair value and cash flow hedge accounting on the income statement for the years ended December ”
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| Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | | | | | |
| Year ended December 31, 2025Dollars in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - securities | Investment banking and debt placement fees | | |
| Twelve Months Ended December 31, 2025 | | | | | | |
| Total amounts presented in the consolidated statement of income | $(734) | | $5,749 | | $1,599 | $780 |
| Net gains (losses) on fair value hedging relationships | | | | | | |
| Interest contracts | | | | | | |
| Recognized on hedged items | (296) | | — | | 105 | — |
| Recognized on derivatives designated as hedging instruments | 126 | | — | | (86) | — |
First 8 of 13 rows. The CSV has all of them.
Table 93 after “The following tables summarize the effect of fair value and cash flow hedge accounting on the income statement for the years ended December ”
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| Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | | | | | |
| Year ended December 31, 2024Dollars in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - securities | Investment banking and debt placement fees | | |
| Twelve Months Ended December 31, 2024 | | | | | | |
| Total amounts presented in the consolidated statement of income | $(1,187) | | $6,026 | | $1,142 | $688 |
| Net gains (losses) on fair value hedging relationships | | | | | | |
| Interest contracts | | | | | | |
| Recognized on hedged items | 56 | | — | | (111) | — |
| Recognized on derivatives designated as hedging instruments | (332) | | — | | 239 | — |
First 8 of 13 rows. The CSV has all of them.
Table 94 after “The following tables summarize the effect of fair value and cash flow hedge accounting on the income statement for the years ended December ”
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| Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | | | | | |
| Year ended December 31, 2023Dollars in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - securities | Investment banking and debt placement fees | | |
| Twelve Months Ended December 31, 2023 | | | | | | |
| Total amounts presented in the consolidated statement of income | $(1,305) | | $6,219 | | $793 | $542 |
| Net gains (losses) on fair value hedging relationships | | | | | | |
| Interest contracts | | | | | | |
| Recognized on hedged items | (119) | | — | | 181 | — |
| Recognized on derivatives designated as hedging instruments | (135) | | — | | (132) | — |
First 8 of 13 rows. The CSV has all of them.
Table 95 after “The following table summarizes the pre-tax effect of cash flow hedges for the years ended December 31, 2025, December 31, 2024, and December”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | 2023 | |
| Net Gains (Losses) Recognized in OCI | | | | |
| Interest contracts | $309 | | $(448) | $(289) |
| Net Gains (Losses) Reclassified From AOCI Into Income | | | | |
| Interest income — Loans | $(358) | | $(733) | $(956) |
| Interest expense — Long-term debt | (2) | | (2) | (2) |
| Investment banking and debt placement fees | — | | — | 5 |
| Total | $(360) | | $(735) | $(953) |
Table 96 after “The following table summarizes the pre-tax net gains (losses) on our derivatives that are not designated as hedging instruments for the year”
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| 2025 | | 2024 | | 2023 | | | | | | | | | | | | | | |
| Year ended December 31,Dollars in millions | Corporate services income | Consumer mortgage income | Other income | Total | | Corporate services income | Consumer mortgage income | Other income | Total | | Corporate services income | Consumer mortgage income | Other income | Total | | | | | |
| NET GAINS (LOSSES) | | | | | | | | | | | | | | | | | | | |
| Interest rate | $51 | | $— | | $6 | | $57 | | | $35 | | $— | | $— | $35 | $41 | $— | $— | $41 |
| Foreign exchange | 49 | | — | | — | | 49 | | | 50 | | — | | — | 50 | 50 | — | — | 50 |
| Commodity | 7 | | — | | — | | 7 | | | 12 | | — | | — | 12 | 22 | — | — | 22 |
| Credit | — | | — | | (47) | | (47) | | | 1 | | — | | (58) | (57) | 2 | — | (52) | (50) |
| Other | — | | — | | (7) | | (7) | | | — | | 2 | | 5 | 7 | — | (1) | (6) | (7) |
First 8 of 9 rows. The CSV has all of them.
Table 97 after “The following table summarizes the fair value of our derivative assets by type at the dates indicated. These assets represent our net exposu”
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| December 31,Dollars in millions | 2025 | 2024 | |
| Interest rate | $82 | | $58 |
| Foreign exchange | 39 | | 81 |
| Commodity | 149 | | 170 |
| Credit | — | | — |
| Other | 8 | | 15 |
| Derivative assets before collateral | 278 | | 324 |
| Plus (Less): Related collateral | (103) | | (75) |
First 8 of 9 rows. The CSV has all of them.
Table 98 after “The following table provides information on the types of credit derivatives sold by us and held on the balance sheet at December 31, 2025, a”
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| 2025 | | 2024 | | | | | | | | |
| December 31,Dollars in millions | Notional Amount | Average Term (Years) | Payment / Performance Risk | | Notional Amount | Average Term (Years) | Payment / Performance Risk | | | | |
| Other | $9 | | 3.62 | 1.76% | | | $2 | | 7.64 | 2.03% | |
| Total credit derivatives sold | $9 | | — | | — | | | $2 | | — | — |
Table 99 after “Refer to the table below for the aggregate fair value of all derivative contracts with credit risk contingent features held by KeyBank that ”
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| Dollars in millions | December 31, 2025 | December 31, 2024 | |
| Net derivative liabilities with credit-risk contingent features | $(49) | | $(83) |
| Collateral posted | 49 | | 80 |
Table 100 after “Changes in the carrying amount of commercial mortgage servicing assets are summarized as follows:”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | |
| Balance at beginning of period | $609 | | $638 |
| Servicing retained from loan sales | 83 | | 67 |
| Purchases | 11 | | 28 |
| Amortization | (125) | | (124) |
| Balance at end of period | $578 | | $609 |
| Fair value at end of period | $736 | | $819 |
Table 101 after “The range and weighted-average of the significant unobservable inputs used to determine fair value our commercial mortgage servicing assets ”
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| dollars in millions | | December 31, 2025 | December 31, 2024 | | | | | | |
| Valuation Technique | SignificantUnobservable Input | Range | Weighted-Average | Range | Weighted-Average | | | | |
| Discounted cash flow | Expected defaults | 1.00% | | 2.00% | | 1.01% | 1.00% | 2.00% | 1.01% |
| Residual cash flows discount rate | 6.96% | | 10.84% | | 10.58% | 7.00% | 10.61% | 10.31% |
| Escrow earn rate | 3.94% | | 4.09% | | 4.08% | 4.62% | 4.70% | 4.69% |
| Prepayment rate | 8.00% | | 45.00% | | 10.05% | 8.00% | 45.00% | 10.29% |
Table 102 after “The sensitivity of the fair value of commercial mortgage servicing assets to adverse fluctuations in key assumptions as of December 31, 2025”
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| Dollars in millions | 2025 |
| Key assumptions: | |
| Escrow earn rate assumptions | 4.08% |
| Effect on fair value from 10% adverse change | $(29) |
| Effect on fair value from 20% adverse change | (57) |
| Discount rate assumptions | 10.58% |
| Effect on fair value from 10% adverse change | $(19) |
| Effect on fair value from 20% adverse change | (36) |
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Table 103 after “Assumptions and information for originated mortgage servicing right additions for the year ended December 31, 2025 are shown in the followin”
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| Dollars in millions | 2025 |
| Unpaid principal balance of loans sold during the period | $8,511 |
| Pretax gains related to the sale of mortgage loans | 131 |
| Weighted average servicing fee rate | 0.16% |
| Weighted average assumptions: | |
| Escrow earn rate assumption | 4.88% |
| Discount rate assumption | 9.82% |
| Default rate assumption | 1.04% |
First 8 of 9 rows. The CSV has all of them.
Table 104 after “Changes in the carrying amount of residential mortgage servicing assets are summarized as follows:”
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| Dollars in millions | 2025 | 2024 | |
| Balance at beginning of period | $111 | | $108 |
| Servicing retained from loan sales | 14 | | 13 |
| Amortization | (12) | | (11) |
| Temporary recoveries (impairments) | — | | 1 |
| Balance at end of period | $113 | | $111 |
| Fair value at end of period | $137 | | $138 |
Table 105 after “The range and weighted-average of the significant unobservable inputs used to fair value our mortgage servicing assets at December 31, 2025,”
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| | December 31, 2025 | December 31, 2024 | | | | | | |
| Valuation Technique | SignificantUnobservable Input | Range | Weighted-Average | Range | Weighted-Average | | | | |
| Discounted cash flow | Prepayment speed | 6.01% | | 33.07% | | 8.33% | 5.42% | 46.30% | 7.69% |
| Discount rate | 6.50% | | 8.75% | | 6.62% | 6.50% | 8.75% | 6.61% |
| Servicing cost | $70.00 | | $4,332 | | $76.47 | $70.00 | $4,332 | $75.99 |
Table 106 after “The sensitivity of the fair value of residential mortgage servicing assets to adverse fluctuations in key assumptions as of December 31, 202”
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| Dollars in millions | 2025 |
| Key Assumptions: | |
| Prepayment speed | 8.33% |
| Effect on Fair Value of a 10% adverse change | $(4) |
| Effect on Fair Value of a 20% adverse change | (8) |
| Discount rate | 6.62% |
| Effect on Fair Value of a 10% adverse change | $(4) |
| Effect on Fair Value of a 20% adverse change | (7) |
Table 107 after “The components of lease expense and cash flows related to leases are summarized as follows:”
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| Dollars in millions | December 31, 2025 | December 31, 2024 | December 31, 2023 | |
| Operating lease cost | $118 | | $118 | $122 |
| Variable lease cost | 20 | | 21 | 19 |
| Finance lease cost | — | | 1 | 1 |
| Total lease cost | $138 | | $140 | $142 |
| Cash paid for amounts included in the measurement of lease liabilities | $129 | | $134 | $136 |
| Right-of-use assets obtained in exchange for lease obligations | 91 | | 70 | 65 |
Table 108 after “Additional balance sheet information related to leases is summarized as follows:”
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| Dollars in millions | Balance sheet classification | December 31, 2025 | December 31, 2024 | |
| Right-of-use assets | Accrued income and other assets | $444 | | $453 |
| Operating lease liabilities | Accrued expense and other liabilities | 484 | | 506 |
Table 109 after “aturities of operating lease liabilities are summarized as follows:”
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| Dollars in millions | December 31, 2025 |
| 2026 | $127 |
| 2027 | 117 |
| 2028 | 95 |
| 2029 | 72 |
| 2030 | 49 |
| Thereafter | 78 |
| Total lease payments | $538 |
First 8 of 10 rows. The CSV has all of them.
Table 110 after “aturities of operating lease liabilities are summarized as follows:”
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| December 31, 2025 | December 31, 2024 | |
| Weighted-average remaining lease term (years) | 5.37 | 5.42 | |
| Weighted-average discount rate | 3.72% | | 3.40% |
Table 111 after “The components of equipment leasing income are summarized in the table below:”
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| Dollars in millions | December 31, 2025 | December 31, 2024 | December 31, 2023 | |
| Sales-type and direct financing leases | | | | |
| Interest income on lease receivable | $54 | | $69 | $78 |
| Interest income related to accretion of unguaranteed residual asset | 7 | | 9 | 13 |
| Interest income on deferred fees and costs | 21 | | 20 | 4 |
| Total sales-type and direct financing lease income | 82 | | 98 | 95 |
| Operating leases | | | | |
| Operating lease income related to lease payments | 43 | | 68 | 84 |
First 8 of 11 rows. The CSV has all of them.
Table 112 after “The composition of the net investment in sales-type and direct financing leases is as follows:”
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| Dollars in millions | December 31, 2025 | December 31, 2024 | |
| Lease receivables | $1,916 | | $2,345 |
| Unearned income | (276) | | (270) |
| Unguaranteed residual value | 454 | | 421 |
| Deferred fees and costs | 5 | | 1 |
| Net investment in sales-type and direct financing leases | $2,099 | | $2,497 |
Table 113 after “to be received for leases are as follows:”
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| Dollars in millions | Sales-type and direct financing lease payments | Operating lease payments | |
| 2026 | $583 | | $27 |
| 2027 | 410 | | 19 |
| 2028 | 256 | | 10 |
| 2029 | 182 | | 5 |
| 2030 | 141 | | 4 |
| Thereafter | 344 | | 14 |
| Total lease payments | $1,916 | | $79 |
Table 114 after “Our premises and equipment consisted of the following:”
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| | December 31, | | |
| Dollars in millions | Useful life (in years) | 2025 | 2024 | |
| Land | Indefinite | $111 | | $111 |
| Buildings and improvements | 15-40 | 655 | | 644 |
| Leasehold improvements | 1-15 | 575 | | 556 |
| Furniture and equipment | 2-15 | 757 | | 787 |
| Capitalized building leases | 1-14 (a) | 18 | | 18 |
| Construction in process | N/A | 42 | | 24 |
First 8 of 11 rows. The CSV has all of them.
Table 115 after “Changes in the carrying amount of goodwill by reporting segment are presented in the following table:”
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| Dollars in millions | Consumer Bank | Commercial Bank | Total(a) | |
| BALANCE AT DECEMBER 31, 2023 | $1,819 | | $933 | $2,752 |
| BALANCE AT DECEMBER 31, 2024 | 1,819 | | 933 | 2,752 |
| BALANCE AT DECEMBER 31, 2025 | $1,819 | | $933 | $2,752 |
Table 116 after “The following table shows the gross carrying amount and the accumulated amortization of intangible assets subject to amortization:”
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| 2025 | | 2024 | | | | |
| December 31,Dollars in millions | Gross Carrying Amount | Accumulated Amortization | | Gross CarryingAmount | AccumulatedAmortization | | |
| Intangible assets subject to amortization: | | | | | | | |
| Core deposit intangibles | $356 | | $352 | | | $356 | $342 |
| PCCR intangibles | 16 | | 16 | | | 16 | 16 |
| Other intangible assets | 154 | | 150 | | | 154 | 141 |
| Total | $526 | | $518 | | | $526 | $499 |
Table 117 after “The following table presents estimated intangible asset amortization expense for the next five years.”
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| Estimated | | | | | | |
| Dollars in millions | 2026 | 2027 | 2028 | 2029 | 2030 | | |
| Intangible asset amortization expense | $7 | | $1 | | $— | $— | $— |
| Unconsolidated VIEs | | | |
| Dollars in millions | TotalAssets | TotalLiabilities | MaximumExposure to Loss | |
| December 31, 2025 | | | | |
| LIHTC investments | $11,212 | | $5,026 | $2,913 |
| December 31, 2024 | | | | |
| LIHTC investments | $9,901 | | $4,468 | $2,996 |
| Unconsolidated VIEs | | | |
| Dollars in millions | TotalAssets | TotalLiabilities | MaximumExposure to Loss | |
| December 31, 2025 | | | | |
| Indirect investments | $1,858 | | $3 | $10 |
| December 31, 2024 | | | | |
| Indirect investments | $2,352 | | $3 | $15 |
Table 120 after “million related to the purchase of senior notes from a securitization collateralized by sold indirect auto loans. In addition, where we only”
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| Other unconsolidated VIEs | | |
| Dollars in millions | Total Assets | Total Liabilities | |
| December 31, 2025 | | | |
| Other unconsolidated VIEs | $508 | | $— |
| December 31, 2024 | | | |
| Other unconsolidated VIEs | $733 | | $1 |
Table 121 after “Income taxes included in the income statement are summarized below. We file a consolidated federal income tax return.”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | 2023 | |
| Currently payable: | | | | |
| Federal | $391 | | $211 | $257 |
| State | 82 | | (3) | 48 |
| Total currently payable | $473 | | $208 | $305 |
| Deferred: | | | | |
| Federal | $(10) | | $(307) | $(84) |
| State | 13 | | (44) | (25) |
First 8 of 10 rows. The CSV has all of them.
Table 122 after “Significant components of our deferred tax assets and liabilities included in “accrued income and other assets” on our Consolidated Balance ”
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| December 31,Dollars in millions | 2025 | 2024 | |
| Allowance for loan and lease losses | $422 | | $411 |
| Employee benefits | 212 | | 209 |
| Net unrealized securities losses | 566 | | 1,045 |
| Federal tax credits | 226 | | 303 |
| Non-tax accruals | 79 | | 109 |
| Operating lease liabilities | 121 | | 127 |
| State net operating losses and credits | 5 | | 20 |
First 8 of 20 rows. The CSV has all of them.
Table 123 after “The following table shows how our total income tax expense (benefit) and the resulting effective tax rate were derived:”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | | 2023 | | | | | |
| Amount | Rate | Amount | Rate | | Amount | Rate | | | |
| Income (loss) before income taxes times 21% statutory federal tax rate | $484 | 21.0% | | | $(64) | | 21.0% | $244 | 21.0% |
| State and local income taxes, net of federal income tax effect(a) | 75 | 3.3 | | | (33) | | 10.8 | 13 | 1.1 |
| Tax credits | | | | | | | | | |
| Low-income housing/New markets | (252) | (10.9) | | | (211) | | 69.1 | (196) | (16.9) |
| Change in valuation allowances | (2) | (.1) | | | 3 | | (1.0) | — | — |
| Nontaxable or nondeductible items | | | | | | | | | |
First 8 of 16 rows. The CSV has all of them.
Table 124 after “The following table shows income taxes paid, net of refunds. Amounts presented for individual jurisdictions represented 5% or more of total ”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | 2023 | |
| U.S. Federal | $51 | | $30 | $119 |
| U.S. state and local | | | | |
| California | 5 | | — | 11 |
| Illinois | — | | 4 | — |
| New Jersey | — | | 6 | — |
| New York City | 7 | | — | 9 |
| New York State | — | | — | (16) |
First 8 of 10 rows. The CSV has all of them.
Table 125 after “The change in our liability for unrecognized tax benefits is as follows:”
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| Year ended December 31,Dollars in millions | 2025 | 2024 | 2023 | |
| Balance at beginning of year | $39 | | $45 | $40 |
| Increase for other tax positions of prior years | — | | — | 5 |
| Decrease for payments and settlements | — | | (3) | — |
| Decrease related to tax positions taken in prior years | (36) | | (3) | — |
| Balance at end of year | $3 | | $39 | $45 |
| Vesting Contingent on Service Conditions | | Vesting Contingent on Performance and Service Conditions - Payable in Stock | | Vesting Contingent on Performance and Service Conditions - Payable in Cash | | | | | |
| Number of Nonvested Shares | Weighted- Average Grant-Date Fair Value | | Number of Nonvested Shares | Weighted- Average Grant-Date Fair Value | | Number of Nonvested Shares | Weighted- Average Grant-Date Fair Value | | |
| Outstanding at December 31, 2024 | 14,995,501 | | $17.66 | | | 1,440,087 | | $15.42 | 5,420,941 | $19.70 |
| Granted | 7,306,761 | | 17.72 | | | 68,991 | | 15.42 | 1,575,553 | 20.82 |
| Vested | (5,552,419) | | 18.82 | | | — | | — | (36,078) | 19.02 |
| Forfeited(a) | (461,624) | | 17.53 | | | — | | — | (3,682,521) | 18.52 |
| Outstanding at December 31, 2025 | 16,288,219 | | $17.27 | | | 1,509,078 | | $15.42 | 3,277,895 | $20.99 |
Table 127 after “The assumptions pertaining to options issued during 2025, 2024, and 2023 are shown in the following table.”
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| Year ended December 31, | 2025 | 2024 | 2023 | |
| Average option life | 7.0 years | 7.0 years | 6.7 years | |
| Future dividend yield | 4.55% | | 5.75% | 4.28% |
| Historical share price volatility | .410 | | .422 | .347 |
| Weighted-average risk-free interest rate | 4.5% | | 4.2% | 3.9% |
Table 128 after “The following table summarizes activity, pricing and other information for our stock options for the year ended December 31, 2025:”
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| Number of Options | Weighted-Average Exercise Price Per Option | Weighted-Average Remaining Life (in years) | AggregateIntrinsicValue(a) | | |
| Outstanding at December 31, 2024 | 4,378,773 | | $18.73 | | 4.6 | $5 |
| Granted | 427,986 | | 19.49 | | | |
| Exercised | (655,461) | | 12.99 | | | |
| Lapsed or canceled | (281,661) | | 19.75 | | | |
| Outstanding at December 31, 2025 | 3,869,637 | | $19.71 | | 5.1 | $7 |
| Expected to vest | 1,157,330 | | 19.14 | | 7.9 | 3 |
| Exercisable at December 31, 2025 | 2,672,495 | | $19.98 | | 3.8 | $4 |
Table 129 after “The following table summarizes activity and pricing information for the nonvested shares granted under our deferred compensation plans and t”
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| Number of Nonvested Shares | Weighted-Average Grant-Date Fair Value | |
| Outstanding at December 31, 2024 | 2,296,263 | | $16.28 |
| Granted | 575,556 | | 16.61 |
| Vested | (854,963) | | 18.29 |
| Forfeited | (40,228) | | 14.05 |
| Outstanding at December 31, 2025 | 1,976,628 | | $15.50 |
Table 130 after “The components of net pension cost and the amount recognized in OCI for all funded and unfunded pension plans and postretirement benefit pla”
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| Year ended December 31,Dollars in millions | Pension Plans | | Postretirement Benefit Plan | | | | | | |
| 2025 | 2024 | 2023 | | 2025 | 2024 | 2023 | | | |
| Interest cost on PBO | $43 | | $41 | | $45 | | $2 | $2 | $2 |
| Expected return on plan assets | (44) | | (39) | | (42) | | (2) | (2) | (2) |
| Amortization of losses (gains) | 8 | | 9 | | 9 | | (1) | (1) | (1) |
| Amortization of prior service credit | — | | — | | — | | (1) | (1) | (1) |
| Settlement loss | — | | — | | 18 | | — | — | — |
| Net pension cost | $7 | | $11 | | $30 | | $(2) | $(2) | $(2) |
First 8 of 14 rows. The CSV has all of them.
Table 131 after “The following table summarizes changes in the PBO and changes in the FVA related to our pension plans and post retirement benefit plan. Actu”
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| Year ended December 31,Dollars in millions | Pension Plans | Postretirement Benefit Plan | | | |
| 2025 | 2024 | 2025 | 2024 | | |
| PBO at beginning of year | $846 | $923 | | $41 | $40 |
| Interest cost | 43 | 41 | | 2 | 2 |
| Actuarial losses (gains) | 14 | (34) | | 7 | 6 |
| Plan participants’ contributions | — | — | | 2 | 1 |
| Benefit payments | (81) | (84) | | (8) | (8) |
| PBO at end of year | $822 | $846 | | $44 | $41 |
First 8 of 14 rows. The CSV has all of them.
Table 132 after “efore, no asset or liability was recognized on our Consolidated Balance Sheets with respect to that plan.”
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| December 31,Dollars in millions | Pension Plans | Postretirement Benefit Plan | | | |
| 2025 | 2024 | 2025 | 2024 | | |
| Funded status (a) | $(32) | $(40) | | | |
| Net prepaid pension cost recognized consists of: | | | | | |
| Noncurrent assets | $85 | $80 | | | |
| Current liabilities | (13) | (13) | | | |
| Noncurrent liabilities | (104) | (107) | | | |
| Net prepaid pension cost recognized (b) | $(32) | $(40) | | | |
First 8 of 11 rows. The CSV has all of them.
Table 133 after “At December 31, 2025, we expect to pay the benefits from all funded and unfunded pension plans and postretirement benefit plan as follows:”
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| Dollars in millions | Pension Plans | Postretirement Benefit Plan | |
| 2026 | $78 | | $4 |
| 2027 | 77 | | 4 |
| 2028 | 76 | | 4 |
| 2029 | 74 | | 4 |
| 2030 | 72 | | 4 |
| 2030-2034 | 324 | | 16 |
| December 31, | 2025 | 2024 | | | | |
| Dollars in millions | Cash Balance Pension Plan | Other Defined Benefit Plans | Cash Balance Pension Plan | Other Defined Benefit Plans | | |
| PBO | $705 | | $117 | | $725 | $121 |
| ABO | 705 | | 117 | | 725 | 121 |
| Fair value of plan assets | 790 | | — | | 805 | — |
Table 135 after “To determine the actuarial present value of benefit obligations, we assumed the following weighted-average rates.”
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| December 31, | 2025 | 2024 | |
| Pension Plans: | | | |
| Discount rate | 5.05% | | 5.33% |
| Weighted-average interest crediting rate | 4.84% | | 4.74% |
| Postretirement Benefit Plan: | | | |
| Discount rate | 4.50% | | 4.50% |
Table 136 after “To determine net pension cost, we assumed the following weighted-average rates.”
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| Year ended December 31, | 2025 | 2024 | 2023 | |
| Pension Plans: | | | | |
| Discount rate | 5.33% | | 4.68% | 4.85% |
| Expected return on plan assets | 5.25% | | 4.50% | 4.50% |
| Postretirement Benefit Plan: | | | | |
| Discount rate | 4.50% | | 4.50% | 4.50% |
| Expected return on plan assets | 4.50% | | 4.50% | 4.50% |
Table 137 after “The following table shows the asset target allocations prescribed by the pension fund’s investment policies based on the plan’s funded statu”
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| Asset Class | 2025 |
| Global equity | 16% |
| Fixed income | 84 |
| Total | 100% |
Table 138 after “The following tables show the fair values of our pension plan assets by asset class at December 31, 2025, and December 31, 2024.”
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| December 31, 2025 | | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | Total | | |
| ASSET CLASS | | | | | | |
| Mutual funds: | | | | | | |
| Fixed income — U.S. | $— | | $321 | | $— | $321 |
| Collective investment funds (measured at NAV) (a) | — | | — | | — | 446 |
| Insurance investment contracts and pooled separate accounts (measured at NAV) (a) | — | | — | | — | 23 |
| Total net assets at fair value | $— | | $321 | | $— | $790 |
Table 139 after “Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not bee”
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| December 31, 2024 | | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | Total | | |
| ASSET CLASS | | | | | | |
| Mutual funds: | | | | | | |
| Fixed income — U.S. | $— | | $324 | | $— | $324 |
| Collective investment funds (measured at NAV) (a) | — | | — | | — | 459 |
| Insurance investment contracts and pooled separate accounts (measured at NAV) (a) | — | | — | | — | 22 |
| Total net assets at fair value | $— | | $324 | | $— | $805 |
| Target Allocation |
| Asset Class | 2025 |
| U.S. equity securities | 64% |
| International equity securities | 16 |
| Fixed income securities | 20 |
| Total | 100% |
Table 141 after “The following tables show the fair values of our postretirement plan assets by asset class at December 31, 2025, and December 31, 2024.”
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| December 31, 2025 | | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | Total | | |
| ASSET CLASS | | | | | | |
| Mutual funds: | | | | | | |
| Equity — U.S. | $30 | | $— | | $— | $30 |
| Equity — International | 5 | | — | | — | 5 |
| Fixed income — U.S. | 8 | | — | | — | 8 |
| Other assets (measured at NAV)(a) | — | | — | | — | 1 |
First 8 of 9 rows. The CSV has all of them.
Table 142 after “Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not bee”
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| December 31, 2024 | | | | | | |
| Dollars in millions | Level 1 | Level 2 | Level 3 | Total | | |
| ASSET CLASS | | | | | | |
| Mutual funds: | | | | | | |
| Equity — U.S. | $26 | | $— | | $— | $26 |
| Equity — International | 6 | | — | | — | 6 |
| Fixed income — U.S. | 8 | | — | | — | 8 |
| Other assets (measured at NAV) | — | | — | | — | 1 |
First 8 of 9 rows. The CSV has all of them.
Table 143 after “The following table presents a summary of our short-term borrowings:”
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| December 31, | | | |
| Dollars in millions | 2025 | 2024 | |
| Federal funds purchased | $— | | $— |
| Securities sold under repurchase agreements | 13 | | 14 |
| Other short-term borrowings | 1,071 | | 2,130 |
Table 144 after “The following table presents the contractual rates and maturity dates of our long-term debt as of December 31, 2025 and the carrying values ”
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| December 31, | Stated Rate | Maturity | Carrying Value | | |
| Dollars in millions | 2025 | 2025 | 2025 | 2024 | |
| Parent Company | | | | | |
| Senior notes | 2.25% - 6.40% | 2027 - 2035 | $4,659 | | $4,251 |
| Junior subordinated debentures | 4.99% - 7.75% | 2028 - 2037 | 447 | | 444 |
| Other variable rate notes | | | — | | 599 |
| Total parent company | | | $5,106 | | $5,294 |
| Subsidiaries | | | | | |
First 8 of 15 rows. The CSV has all of them.
Table 145 after “At December 31, 2025, scheduled principal payments on long-term debt were as follows:”
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| Dollars in millions | Parent | Subsidiaries | Total | |
| 2026 | $— | | $1,111 | $1,111 |
| 2027 | 771 | | 1,275 | 2,046 |
| 2028 | 903 | | 307 | 1,210 |
| 2029 | 881 | | 345 | 1,226 |
| 2030 | — | | 15 | 15 |
| All subsequent years | 2,551 | | 1,758 | 4,309 |
Table 146 after “The table below shows the total amount of time deposits at December 31, 2025, by future contractual maturity range:”
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| Dollars in millions | Time Deposits |
| 2026 | $12,229 |
| 2027 | 410 |
| 2028 | 18 |
| 2029 | 8 |
| 2030 | 5 |
| All subsequent years | 10 |
| Total time deposits | $12,680 |
| December 31,Dollars in millions | 2025 | 2024 | |
| Loan commitments: | | | |
| Commercial and other | $59,731 | | $57,010 |
| Commercial real estate and construction | 3,561 | | 2,855 |
| Home equity | 7,793 | | 8,360 |
| Credit cards | 6,027 | | 6,784 |
| Total loan commitments | 77,112 | | 75,009 |
| Commercial letters of credit | 49 | | 63 |
First 8 of 12 rows. The CSV has all of them.
Table 148 after “The following table shows the types of guarantees that we had outstanding at December 31, 2025. Information pertaining to the basis for dete”
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| December 31, 2025 | Maximum Potential Undiscounted Future Payments | Liability Recorded | |
| Dollars in millions | | | |
| Financial guarantees: | | | |
| Standby letters of credit | $6,453 | | $69 |
| Recourse agreement with FNMA | 8,187 | | 57 |
| Residential mortgage reserve | 3,418 | | 8 |
| Written options (a) | 3,524 | | 27 |
| Total | $21,582 | | $161 |
Table 149 after “The following table summarizes our changes in AOCI:”
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| Dollars in millions | Unrealized gains(losses) on securitiesavailable for sale | Unrealized gains(losses) on derivativefinancial instruments | | Net pension andpostretirementbenefit costs | Total | | |
| Balance at December 31, 2022 | $(4,895) | | $(1,124) | | | $(276) | $(6,295) |
| Other comprehensive income before reclassification, net of income taxes | 702 | | (364) | | | (18) | 320 |
| Amounts reclassified from accumulated other comprehensive income, net of income taxes (a) | 3 | | 725 | | | 18 | 746 |
| Net current-period other comprehensive income, net of income taxes | 705 | | 361 | | | — | 1,066 |
| Balance at December 31, 2023 | $(4,190) | | $(763) | | | $(276) | $(5,229) |
| Other comprehensive income before reclassification, net of income taxes | 38 | | (230) | | | (30) | (222) |
| Amounts reclassified from accumulated other comprehensive income, net of income taxes (a) | 1,418 | | 559 | | | 4 | 1,981 |
First 8 of 14 rows. The CSV has all of them.
Table 150 after “Our reclassifications out of AOCI, are as follows:”
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| Twelve Months Ended December 31, | Affected Line Item in the Consolidated Statement of Income | | | |
| Dollars in millions | 2025 | 2024 | 2023 | | |
| Unrealized gains (losses) on available for sale securities | | | | | |
| Realized losses | $— | | $(1,863) | $(4) | Net securities gains (losses) |
| — | | (1,863) | (4) | Income (loss) from continuing operations before income taxes |
| — | | (445) | (1) | Income taxes |
| $— | | $(1,418) | $(3) | Income (loss) from continuing operations |
| Unrealized gains (losses) on derivative financial instruments | | | | | |
First 8 of 21 rows. The CSV has all of them.
Table 151 after “The following table summarizes our preferred stock at December 31, 2025:”
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| Preferred stock series | Amount outstanding (in millions) | Book value (net of capital surplus) | Shares authorized and outstanding | Par value | Liquidation preference | Ownership interest per depositary share | Liquidation preference per depositary share | 2025 dividends paid per depositary share | | | | |
| 5.000% Fixed-to-Floating Rate Perpetual Noncumulative Series D | $525 | | $519 | | 21,000 | | $1 | | $25,000 | 1/25th | $1,000 | $50.00 |
| 6.125% Fixed-to-Floating Rate Perpetual Noncumulative Series E | 500 | | 490 | | 500,000 | | 1 | | 1,000 | 1/40th | 25 | 1.531252 |
| 5.650% Fixed Rate Perpetual Noncumulative Series F | 425 | | 412 | | 425,000 | | 1 | | 1,000 | 1/40th | 25 | 1.412500 |
| 5.625% Fixed Rate Perpetual Non-Cumulative Series G | 450 | | 435 | | 450,000 | | 1 | | 1,000 | 1/40th | 25 | 1.406252 |
| 6.200% Fixed Rate Reset Perpetual Non-Cumulative Series H | 600 | | 590 | | 600,000 | | 1 | | 1,000 | 1/40th | 25 | 1.550000 |
Table 152 after “At December 31, 2025, Key and KeyBank (consolidated) had regulatory capital in excess of all current minimum risk-based capital (including a”
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| Actual | | | Regulatory Minimum | Regulatory Minimum with Stress Capital Buffer | | Well Capitalized | | | |
| Dollars in millions | Amount | Ratio | | | Ratio | Ratio | | Ratio | | |
| December 31, 2025 | | | | | | | | | | |
| Total risk-based capital | | | | | | | | | | |
| Key | $22,910 | | 15.70% | | | | 8.00% | | 11.20% | N/A |
| KeyBank (consolidated) | 21,198 | | 14.71 | | | | 8.00 | | 11.20 | 10.00% |
| Common equity Tier 1 risk-based capital | | | | | | | | | | |
| Key | $17,195 | | 11.78% | | | | 4.50% | | 7.70% | N/A |
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Table 153 after “Developing and applying the methodologies that we use to allocate items among our lines of business is a dynamic process. Accordingly, finan”
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| Year ended December 31, | Consumer Bank | | Commercial Bank | | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | | | |
| SUMMARY OF OPERATIONS | | | | | | | | | |
| Net interest income (TE) | $2,709 | | $2,246 | $2,221 | | | $2,294 | $1,805 | $1,866 |
| Noninterest income | 957 | | 924 | 937 | | | 1,745 | 1,629 | 1,429 |
| Total revenue (TE) (a) | 3,666 | | 3,170 | 3,158 | | | 4,039 | 3,434 | 3,295 |
| Provision for credit losses | 169 | | 126 | 111 | | | 299 | 227 | 379 |
| Personnel expense | 904 | | 850 | 833 | | | 779 | 729 | 697 |
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Table 154 after “Developing and applying the methodologies that we use to allocate items among our lines of business is a dynamic process. Accordingly, finan”
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| Year ended December 31, | Other | | Key | | | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | | | |
| SUMMARY OF OPERATIONS | | | | | | | | | |
| Net interest income (TE) | $(332) | | $(241) | $(144) | | | $4,671 | $3,810 | $3,943 |
| Noninterest income | 140 | | (1,744) | 104 | | | 2,842 | 809 | 2,470 |
| Total revenue (TE) (a) | (192) | | (1,985) | (40) | | | 7,513 | 4,619 | 6,413 |
| Provision for credit losses | 3 | | (18) | (1) | | | 471 | 335 | 489 |
| Personnel expense | 1,234 | | 1,135 | 1,130 | | | 2,917 | 2,714 | 2,660 |
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| December 31,Dollars in millions | 2025 | 2024 | |
| ASSETS | | | |
| Cash and due from banks | $4,868 | | $5,149 |
| Short-term investments | 28 | | 26 |
| Other investments | 119 | | 96 |
| Loans to: | | | |
| Banks | 300 | | 300 |
| Nonbank subsidiaries | — | | — |
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Table 156 after “CONDENSED STATEMENTS OF INCOME”
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| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | |
| INCOME | | | | |
| Dividends from subsidiaries: | | | | |
| Bank subsidiaries | $1,375 | | $750 | $675 |
| Nonbank subsidiaries | — | | — | — |
| Interest income from subsidiaries | 16 | | 20 | 15 |
| Other income | 16 | | 14 | 24 |
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Table 157 after “CONDENSED STATEMENTS OF CASH FLOWS”
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| Year ended December 31, | | | | |
| Dollars in millions | 2025 | 2024 | 2023 | |
| OPERATING ACTIVITIES | | | | |
| Net income (loss) attributable to Key | $1,829 | | $(161) | $967 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | |
| Equity in net (income) loss less dividends from subsidiaries | (773) | | 588 | (575) |
| Other operating activities, net | 329 | | (752) | 172 |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 1,385 | | (325) | 564 |
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Table 158 after “The following table represents a disaggregation of revenue from contracts with customers, by business segment. The development and applicati”
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| Year ended December 31, | 2025 | | | |
| Dollars in millions | Consumer Bank | Commercial Bank | Total Contract Revenue | |
| NONINTEREST INCOME | | | | |
| Trust and investment services income | $483 | | $75 | $558 |
| Investment banking and debt placement fees | — | | 551 | 551 |
| Services charges on deposit accounts | 144 | | 151 | 295 |
| Cards and payments income | 175 | | 162 | 337 |
| Other noninterest income | 8 | | — | 8 |
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Table 159 after “The following financial statements of KeyCorp and its subsidiaries, and the auditor’s report thereon are filed as part of this report under ”
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| Page Number |
| Report of Independent Registered Public Accounting Firm (PCAOB ID: 42) | 100 |
| Consolidated Financial Statements | 102 |
| Consolidated Balance Sheets at December 31, 2025, and 2024 | 102 |
| Consolidated Statements of Income for the Years Ended December 31, 2025, 2024 and 2023 | 103 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2025, 2024, and 2023 | 104 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024, and 2023 | 105 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023 | 106 |
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| 3.1 | Third Amended and Restated Articles of Incorporation of KeyCorp, effective May 23, 2019, filed as Exhibit 3.2 to Form 8-K on May 24, 2019.* |
| 3.2 | Certificate of Amendment to the Third Amended and Restated Articles of Incorporation of the Company with respect to Fixed Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H, filed August 22, 2022, filed as Exhibit 4.1 to Form 8-K on August 24, 2022.* |
| 3.3 | Fourth Amended and Restated Regulations of KeyCorp, effective September 21, 2023. |
| 4.1 | Description of KeyCorp’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934. |
| 4.2 | Form of Certificate representing Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series D, filed as Exhibit 4.2 to Form 8-K on September 9, 2016.* |
| 4.3 | Deposit Agreement, dated as of September 9, 2016, among KeyCorp, Computershare Inc. and Computershare Trust Company, N.A., jointly as depositary, and the holders from time to time of the depositary receipts described therein, filed as Exhibit 4.3 to Form 8-K on September 9, 2016.* |
| 4.4 | Form of Depositary Receipt related to Series D Preferred Stock (included as part of Exhibit 4.3), filed as Exhibit 4.4 to Form 8-K on September 9, 2016.* |
| 4.5 | Form of Certificate representing Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E, filed as Exhibit 4.2 to Form 8-K on December 12, 2016.* |
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| 10.8 | Form of Stock Option Award Agreement under KeyCorp 2019 Equity Compensation Plan, effective 2020, filed as Exhibit 10.12 to Form 10-K for the year ended December 31, 2020.*. |
| 10.9 | Form of Stock Option Award Agreement under the KeyCorp Amended and Restated 2019 Equity Compensation Plan, effective 2026. |
| 10.10 | Form of Restricted Stock Unit Award Agreement (New Hire/Retention) under KeyCorp 2019 Equity Compensation Plan, filed as Exhibit 10.4 to KeyCorp’s Registration Statement on Form S-8 on May 23, 2019, File No. 333-231689.* |
| 10.11 | Form of Restricted Stock Unit Award Agreement under KeyCorp 2019 Equity Compensation Plan, effective 2020, filed as Exhibit 10.17 to Form 10-K for the year ended December 31, 2020.* |
| 10.12 | Form of Restricted Stock Unit Award Agreement under KeyCorp Amended and Restated 2019 Equity Compensation Plan, filed as Exhibit 10.12 to Form 10-K for the year ended December 31, 2024.* |
| 10.13 | Form of Restricted Stock Unit Award Agreement (New Hire/Retention) under KeyCorp Amended and Restated 2019 Equity Compensation Plan, filed as Exhibit 10.13 to Form 10-K for the year ended December 31, 2024.* |
| 10.14 | Form of Restricted Stock Unit Award Agreement under KeyCorp Amended and Restated 2019 Equity Compensation Plan, effective 2026. |
| 10.15 | Form of Change of Control Agreement (Tier I) between KeyCorp and Certain Executive Officers of KeyCorp, dated as of March 8, 2012, filed as Exhibit 10.8 to Form 10-K for the year ended December 31, 2017.* |
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| 10.35 | Trust Agreement for certain amounts that may become payable to certain executives and directors of KeyCorp, dated April 1, 1997, and amended as of August 25, 2003, filed as Exhibit 10.28 to Form 10-K for the year ended December 31, 2018.* |
| 10.36 | KeyCorp Deferred Savings Plan (effective January 1, 2015), filed as Exhibit 10.31 to Form 10-K for the year ended December 31, 2014.* |
| 10.37 | Amendment to the KeyCorp Deferred Savings Plan (effective January 1, 2023), filed as Exhibit 10.37 to Form 10-K for the year ended December 31, 2022.* |
| 10.38 | Amendment to the KeyCorp Deferred Savings Plan (effective January 1, 2023), filed as Exhibit 10.38 to Form 10-K for the year ended December 31, 2022.* |
| 10.39 | KeyCorp Second Deferred Savings Plan (effective January 1, 2019), filed as Exhibit 10.30 to Form 10-K for the year ended December 31, 2018.* |
| 10.40 | Amended and Restated KeyCorp Second Deferred Savings Plan (effective January 1, 2023), filed as Exhibit 10.40 to Form 10-K for the year ended December 31, 2022.* |
| 10.41 | Amended and Restated KeyCorp Second Deferred Savings Plan (effective May 8, 2023), filed as Exhibit 10.40 to Form 10-K for the year ended December 31, 2024.* |
| 10.42 | Amended and Restated First Niagara Bank and First Niagara Financial Group, Inc. Directors Deferred Fees Plan, filed as Exhibit 10.32 to Form 10-K for the year ended December 31, 2018.* |
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