01—Abstract
Summary
Summary of the 8-K filed February 9, 2026. Cited figures are marked; the original filing is the authoritative source.
KeyCorp filed this Form 8-K under Item 7.01 (Regulation FD Disclosure) to furnish slides for a presentation at the UBS Financial Services Conference on February 9, 2026.
The presentation, delivered by Ken Gavrity, Head of the Commercial Bank, reviews the Commercial Bank's performance, strategy, and outlook. The filing states the slides (Exhibit 99.1) are posted on KeyCorp's website and that a live audio webcast and a recording will be available at www.key.com/ir. The information is furnished rather than filed, so it is not subject to Section 18 liabilities.
The slides highlight the Commercial Bank's scale and growth. The company reports approximately $58 billiona in commercial deposits and about $2.1 billion in 2025 total revenue for the Commercial Bank, with Commercial Banking revenue of $1.04 billion and deposits of $58.1 billion in 2025, compared with $823 million and $36.4 billion in 2019. Commercial payments fees grew from $13.4 billion to $18.3 billion in gross fees over 2019 to 2025 (presented in billions), and the company says embedded banking revenue and fee growth reached about 2x.
Operating deposits make up 88%b of commercial deposits, and 98% of deposits are attached to an operating account. The presentation also sets out growth targets: about 10% growth in bankers, double-digit improvements in banker productivity and cost to serve, and high single-digit to low double-digit growth in commercial payments fees.
It notes a cumulative commercial deposit beta of about 70%c indexed to 3Q24, middle market presence in 11 of the top 20 MSAs, and a 9% increase in middle market commercial payments revenue CAGR context. The slides include forward-looking statements and non-GAAP disclaimers referring investors to KeyCorp's SEC filings and earnings releases.
02—Key points
Key Highlights
- Commercial Bank serves roughly 5,000 customers across 30 markets, targeting clients with $10 million to $1 billion in revenue.
- Commercial deposits of about $58 billion, with Commercial Banking deposits rising from $36.4 billion in 2019 to $58.1 billion in 2025.
- Gross payments fees grew from $13.4 billion (2019) to $18.3 billion (2025), with a stated commercial payments revenue CAGR of ~17-20% over the last five years.
- Operating deposits represent 88% of commercial deposits, and about 98% of deposits are attached to an operating account.
- Middle market presence in 11 of the top 20 MSAs; middle market C&I loan balances and loan pipelines are shown with year-over-year growth.
- Stated targets include ~10% banker growth, double-digit improvements in banker productivity and cost to serve, and high single-digit to low double-digit growth in commercial payments fees.
- Cumulative commercial deposit beta of about 70% (indexed to 3Q24), and embedded banking revenue and fee growth of about 2x in 2025 versus 2024.
03—Questions
Frequently Asked Questions
Why did KeyCorp file this 8-K?
The filing furnishes presentation slides under Item 7.01 (Regulation FD Disclosure) for KeyCorp's appearance at the UBS Financial Services Conference on February 9, 2026. The information is not deemed filed under Section 18 of the Exchange Act.
How large is KeyCorp's Commercial Bank?
The slides cite about $58 billion in commercial deposits and about $2.1 billion in 2025 total revenue for the Commercial Bank, serving roughly 5,000 customers across 30 markets.
What growth targets did management present?
Management targets about 10% growth in bankers, double-digit improvements in banker productivity and cost to serve, and high single-digit to low double-digit growth in commercial payments fees.
Where can investors access the presentation and related materials?
The slides are posted on KeyCorp's website at www.key.com/ir, with a live audio webcast on the day of the conference and a recording available there afterward.
04—Continue