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KeyCorp 8-K Report, Financial Results (Oct 20, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 20, 2026
Period End
October 20, 2026
In the record · 2016–202610-K1110-Q348-K141

KEY filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 141 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’16Aug ’16
  2. Leadership change8-K · Nov ’22Nov ’22
  3. Leadership change8-K · Jan ’25Jan ’25

01—Abstract

Summary

Summary of the 8-K filed October 20, 2026. Cited figures are marked; the original filing is the authoritative source.

KeyCorp reported third-quarter 2026 net income from continuing operations attributable to Key common shareholders of $537 milliona, or $0.51 per diluted common share, up from $472 million, or $0.44 per diluted share, in the second quarter of 2026 and $454 million, or $0.41 per diluted share, in the third quarter of 2025.

Record revenue was $2.04 billionb, up 8% year-over-year and 4% sequentially, and the net interest margin was 2.95%, up 20 basis points year-over-year and 6 basis points sequentially. Return on average tangible common equity from continuing operations was 15.11%, and management reiterated its goal of a return on tangible common equity of 15%+ by the end of 2027. Average deposits rose $3.6 billion sequentially to $151.2 billion, while average loans held for investment rose $1.5 billion to $111.6 billion.

Investment banking and debt placement fees increased 27% sequentially to $214 millionc. Credit quality improved, with net charge-offs of $89 million (0.32% of average total loans) versus $115 million in the prior quarter, and nonperforming assets of $627 million versus $818 million at June 30, 2026. The Common Equity Tier 1 ratio was an estimated 11.1% at September 30, 2026, compared with 11.2% at June 30, 2026, and the company repurchased $320 million of common shares during the quarter.

The supplemental presentation states that KeyCorp expects to repurchase $1.3 billiond of shares in 2026 and gives updated 2026 outlook figures, including GAAP tax rate of about 22% and ROTCE of 16% to 19%. The filing furnishes the earnings press release, supplemental information package, and financial statements, including consolidated balance sheets and income statements, under Item 2.02. Tangible book value per share was $12.35, down from $13.62 at June 30, 2026, and the company reported period-end book value of $15.01.

02—Key points

Key Highlights

  1. Diluted EPS from continuing operations of $0.51 in 3Q26, up from $0.44 in 2Q26 and $0.41 in 3Q25; net income from continuing operations attributable to Key common shareholders was $537 million.
  2. Record revenue of $2.04 billion, up 8% year-over-year and 4% sequentially; net interest income (TE) of $1.31 billion with net interest margin of 2.95%.
  3. Investment banking and debt placement fees rose 27% sequentially to $214 million, and total noninterest income reached $744 million.
  4. Average deposits increased $3.6 billion sequentially to $151.2 billion; cost of total deposits was 1.66%.
  5. Net charge-offs fell to $89 million (0.32% of average total loans) from $115 million in 2Q26; nonperforming assets declined to $627 million from $818 million.
  6. Common Equity Tier 1 ratio was an estimated 11.1% at September 30, 2026; $320 million of common shares were repurchased during the quarter, and 2026 planned repurchases are $1.3 billion.
  7. Return on average tangible common equity from continuing operations was 15.11%, and management reiterated a target of 15%+ by the end of 2027.

03—Questions

Frequently Asked Questions

  1. How did KeyCorp's third-quarter 2026 earnings compare with prior periods?

    Net income from continuing operations attributable to Key common shareholders was $537 million, or $0.51 per diluted share, compared with $472 million, or $0.44 per diluted share, in the second quarter of 2026, and $454 million, or $0.41 per diluted share, in the third quarter of 2025. The third quarter of 2025 included a $4 million after-tax benefit from the updated FDIC special assessment. No selected items were reported in the third quarter of 2026.

  2. What drove revenue and margin growth?

    Net interest income (TE) rose $50 million sequentially and $115 million year-over-year, reflecting lower deposit costs, reinvestment of maturing low-yielding securities and swaps, balance sheet growth, and a shift toward commercial and industrial loans. Noninterest income increased $38 million sequentially, led by a $45 million rise in investment banking and debt placement fees.

  3. How is credit quality trending?

    Net loan charge-offs were $89 million, or 0.32% of average total loans, compared with $115 million, or 0.42%, in the prior year's quarter and $115 million in the second quarter of 2026. Provision for credit losses was $61 million, down from $92 million in the second quarter of 2026. Nonperforming loans were $618 million, or 0.55% of period-end portfolio loans, compared with 0.73% at June 30, 2026.

  4. How is KeyCorp managing capital?

    The estimated Common Equity Tier 1 ratio was 11.1% at September 30, 2026, versus 11.2% at June 30, 2026, and 11.8% a year earlier. Shares outstanding decreased to 1,058,176 thousand from 1,072,035 thousand in the prior quarter, and the company declared a quarterly dividend of $0.205 per common share. The supplement gives a planned $1.3 billion of 2026 share repurchases, with $320 million completed in the third quarter.

04—Continue

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