---
schema_version: "secwatch.filing_event.v1"
accession: "0000091576-23-000062"
form_type: "8-K"
ticker: "KEY"
cik: "0000091576"
company_name: "KEYCORP /NEW/"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T23:12:33.187900+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# KeyCorp Q1 net income $275M ($0.30 EPS) down 34.5% YoY; margin compresses

## Summary
- Net income $275M ($0.30 diluted EPS) vs $420M ($0.45) YoY, down 34.5%.
- Total revenue (TE) $1.714B up 1.1% YoY; net interest margin 2.47% down 26 bps QoQ.
- Provision for credit losses $139M, up 67.5% YoY; net charge-offs 0.15% of avg loans.
- Average loans $119.8B up 15.5% YoY; average deposits $143.4B down 4.5% YoY.
- CET1 ratio 9.1%; dividend $0.205/share; $752M remaining in buyback authorization.

## SEC filing metadata
- accession: 0000091576-23-000062
- form_type: 8-K
- ticker: KEY
- cik: 0000091576
- company_name: KEYCORP /NEW/
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91576/000009157623000062/0000091576-23-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91576/000009157623000062/key-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000091576-23-000062
- JSON: https://secwatch.observer/filing/0000091576-23-000062.json
- Plain text: https://secwatch.observer/filing/0000091576-23-000062.txt

## Key facts
- Earnings Releases
  KEYCORP /NEW/ reported first quarter ended March 31, 2023 results: net income $275 million, EPS $.30 per diluted common share.
  - Period: first quarter ended March 31, 2023
  - Net income: $275 million
  - EPS: $.30 per diluted common share
  - Result: reported results
  source text: KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $275 million, or $.30 per diluted common share for the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91576/000009157623000062/0000091576-23-000062-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.