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Company Description

Contact Info

127 Public Square

Cleveland, OH 44114

United States

Phone: 216-689-3000

Fax:

KeyCorp operates as the bank holding company for KeyBank National Association that provides various banking services. The company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients through two major business segments, Key Community Bank and Key Corporate Bank. As of December 31, 2015, the company’s services were provided across the country through its 966 full-service retail banking branches and a network of 1,256 automated teller machines in 12 states, as well as additional offices, online and mobile banking capabilities, and a telephone banking call center. In addition to the customary banking services of accepting deposits and making loans, the comma’s bank and trust company subsidiaries offer personal, securities lending and custody services, personal financial services, access to mutual funds, treasury services, investment banking and capital markets products, and international banking services. Through its bank, trust company, and registered investment adviser subsidiaries, the company provides investment management services to clients that include large corporate and public retirement plans, foundations and endowments, high-net-worth individuals, and multi-employer trust funds established for providing pension or other benefits to employees. The company provides other financial services — both within and outside of its primary banking markets — through various nonbank subsidiaries. These services include community development financing, securities underwriting, and brokerage. The company also provides merchant services to businesses directly and through an equity participation in a joint venture. Segments Key Community Bank This segment serves individuals and small to mid-sized businesses by offering various deposit, investment, lending, credit card, and personalized wealth management products and business advisory services. These products and services are provided through the company’s relationship managers and specialists working in its 12-state branch network, which is organized into 8 internally defined geographic regions, such as Pacific, Rocky Mountains, Indiana, Western Ohio and Michigan, Eastern Ohio, Western New York, Eastern New York, and New England. In addition, some of these product capabilities are delivered by Key Corporate Bank to clients of Key Community Bank. Key Corporate Bank This segment is a full-service corporate and investment bank focused principally on serving the needs of middle market clients in seven industry sectors, such as consumer, energy, healthcare, industrial, public sector, real estate, and technology. Key Corporate Bank delivers a suite of banking and capital markets products to its clients, including syndicated finance, debt and equity capital markets, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance. Key Corporate Bank is also a major servicer of commercial mortgage loans and a major special servicer of commercial mortgage-backed securities. Key Corporate Bank delivers many of its product capabilities to clients of Key Community Bank. Loan Portfolio As of December 31, 2015, the company’s loans included commercial loans (such as commercial, financial and agricultural loans; commercial real estate loans (such as commercial mortgage loans and construction loans); and commercial lease financing loans) and consumer loans (including real estate loans — residential mortgage; home equity loans (Key Community Bank and other loans); consumer other — Key Community Bank; credit cards; and consumer other loans (marine loans and other loans)). Securities As of December 31, 2015, the company’s securities included states and political subdivisions; collateralized mortgage obligations; other mortgage-backed securities; and other securities. Deposits As of December 31, 2015, the company’s deposits included negotiable order of withdrawal and money market deposit accounts; savings deposits; certificates of deposit; other time deposits; and deposits in foreign office. Supervision and Regulation As a bank holding company, the company is subject to regulation, supervision, and examination by the Board of Governors of the Federal Reserve System (Federal Reserve) under the Bank Holding Company Act of 1956, as amended. The company’s national bank subsidiaries and their subsidiaries are subject to regulation, supervision and examination by the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation also has certain regulatory, supervisory and examination authority over the bank and the company under the Federal Deposit Insurance Act, as amended and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The company has other financial services subsidiaries that are subject to regulation, supervision and examination by the Federal Reserve, as well as other applicable state and federal regulatory agencies and self-regulatory organizations. The company’s securities brokerage and asset management subsidiaries are subject to supervision and regulation by the U.S. Securities & Exchange Commission, Financial Industry Regulatory Authority, and state securities regulators; and the company’s insurance subsidiaries are subject to regulation by the insurance regulatory authorities of the states in which they operate. The Deposit Insurance Fund of the Federal Deposit Insurance Corporation provides insurance coverage for domestic deposits funded through assessments on insured depository institutions, such as the bank. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Federal Reserve must impose enhanced prudential standards and early remediation requirements upon bank holding companies, such as the company. History KeyCorp was founded in 1849. The company was incorporated in 1958 under the laws of the state of Ohio.

 

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Valuation KEY Industry Range
Price/Earnings 12.3x
Price/Sales 2.5x
Price/Book 0.9x
Price/Cash Flow 15.6x
TEV/Sales NM Not Meaningful
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