secwatch.observer — SEC 8-K summary
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Issuer:     KEYCORP /NEW/ (KEY)
CIK:        0000091576
Form:       8-K
Filed at:   2024-10-17T23:59:59+00:00
Accession:  0000091576-24-000104
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KeyCorp Q3 GAAP net loss $(0.47)/share; adjusted EPS $0.30; receives $821M Scotiabank tranche
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- GAAP net loss $(447)M ($(0.47)/diluted) vs. prior Q $0.25; includes $(737)M after-tax securities repositioning charge.
- Adjusted net income $290M ($0.30/diluted); net interest income up 7% QoQ to $964M; NIM 2.17%.
- Received initial $821M of $2.8B Scotiabank strategic investment; CET1 ratio 10.8%, TCE ratio 6.2%.
- Average loans $106.2B down 9.7% YoY; average deposits $147.8B up 2.0% YoY; cost of deposits 2.39%.
- Provision for credit losses $95M; net charge-offs 0.58% of avg loans; nonperforming loans 0.69% of loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91576/000009157624000104/0000091576-24-000104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91576/000009157624000104/key-20241017.htm
  HTML page:      https://secwatch.observer/filing/0000091576-24-000104

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