AI-extracted from the 10-Q filed 2026-08-04 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Key reported $472M net income from continuing operations ($0.44 diluted EPS) in Q2 2026, with net interest income up 9% YoY to $1.26B and net interest margin expanding 23bps to 2.89%.
Biggest Revenue Drivers
Net interest income (TE)$1.26B+9.4% YoY
Driven by reduction in deposit costs from declining rates and proactive deposit beta management, reinvestment of maturing securities into higher-yielding assets, and favorable shift to higher-yielding commercial and industrial loans.
Noninterest income$706M+2.3% YoY
Trust and investment services income up 8.9% on higher assets under management ($74.2B, +15.5% YoY), cards and payments income up 10.6%, partially offset by lower investment banking fees (down 5.1%) and commercial mortgage servicing fees (down 30%).
Biggest Revenue Drivers
Total revenue: $1.96B+2.3% YoY
Net interest income (TE)$1.26B+9.4% YoY
Driven by reduction in deposit costs from declining rates and proactive deposit beta management, reinvestment of maturing securities into higher-yielding assets, and favorable shift to higher-yielding commercial and industrial loans.
Noninterest income$706M+2.3% YoY
Trust and investment services income up 8.9% on higher assets under management ($74.2B, +15.5% YoY), cards and payments income up 10.6%, partially offset by lower investment banking fees (down 5.1%) and commercial mortgage servicing fees (down 30%).
Largest Expense Items
Personnel$786M+11.5% YoY
Higher salaries, incentive and stock-based compensation reflecting merit increases, higher headcount, and growth in fee businesses.
Computer processing$108M+0.9% YoY
Slight increase from prior year quarter.
Net occupancy$68M-1.4% YoY
Relatively flat compared to prior year.
Margins: Net interest margin expanded 23 basis points year-over-year to 2.89%, driven by disciplined deposit beta management in a declining rate environment and favorable balance sheet mix toward higher-yielding commercial loans, partially offset by lower yields on repricing assets.
Watch Items from the Filing
Nonperforming assets increased $191M to $818M (0.74% of loans) from December 31, 2025, driven by idiosyncratic exposures in select commercial and industrial industries and multifamily real estate; management does not view as indicative of broader portfolio deterioration.
Commercial loan portfolio growth strong at $5.1B (+6.6% since year-end), with commercial and industrial loans up 8.7%; average commercial loans up $6.7B YoY reflecting positive business momentum but heightening concentration risk.
Provision for credit losses declined to $92M from $138M YoY despite loan growth, reflecting net reserve release of $23M and improved economic outlook; however, net loan charge-offs remained elevated at 42bps (Q2 2026) vs. 39bps (Q2 2025).
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
20 transactions in KEY reported by 7 members of Congress under the STOCK Act, most recent trade Mar 13, 2026. Reported transactions, not recommendations.
About KEYCORP /NEW/ (KEY): stock profile, AI score and financials
KEYCORP /NEW/ (KEY) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores KEY at 71.5/100 on a composite quality score built from its SEC filings, placing it at rank #178 of 2,925 stocks — the top 10% of the AI-ranked universe. KEY scores in the top quartile across profitability (88.8), revenue scale (83.8). Areas of concern include earnings quality (20.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 41.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), KEYCORP /NEW/ reports quarterly revenue of $2.0B, net income of $509.0M, an operating margin of 32.9%. Top institutional holders of KEY by reported 13-F value include BANK OF NOVA SCOTIA, BlackRock, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. KEY trades on the NYSE exchange and files with the SEC under CIK 91576. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate KEY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for KEYCORP /NEW/ directly from SEC EDGAR.