KeyCorp (KEY) 8-K Record revenue for the fourth quarter and full year 2020

Exhibit 99.3

Consolidated Balance Sheets
(dollars in millions)
			12/31/2020		9/30/2020		12/31/2019
Assets
	Loans		$	101,185	$	103,081	$	94,646
	Loans held for sale		1,583		1,724		1,334
	Securities available for sale		27,556		26,895		21,843
	Held-to-maturity securities		7,595		8,384		10,067
	Trading account assets		735		733		1,040
	Short-term investments		16,194		14,148		1,272
	Other investments		621		620		605
		Total earning assets	155,469		155,585		130,807
	Allowance for loan and lease losses		(1,626)		(1,730)		(900)
	Cash and due from banks		1,091		956		732
	Premises and equipment		753		765		814
	Goodwill		2,664		2,664		2,664
	Other intangible assets		188		203		253
	Corporate-owned life insurance		4,286		4,274		4,233
	Accrued income and other assets		6,812		7,084		5,494
	Discontinued assets		699		739		891
		Total assets	$	170,336	$	170,540	$	144,988
Liabilities
	Deposits in domestic offices:
		NOW and money market deposit accounts	$	80,427	$	80,791	$	66,714
		Savings deposits	5,913		5,585		4,651
		Certificates of deposit ($100,000 or more)	2,733		3,345		6,598
		Other time deposits	3,010		3,450		5,054
		Total interest-bearing deposits	92,083		93,171		83,017
		Noninterest-bearing deposits	43,199		43,575		28,853
		Total deposits	135,282		136,746		111,870
	Federal funds purchased and securities sold under repurchase agreements		220		213		387
	Bank notes and other short-term borrowings		759		818		705
	Accrued expense and other liabilities		2,385		2,356		2,540
	Long-term debt		13,709		12,685		12,448
		Total liabilities	152,355		152,818		127,950
Equity
	Preferred stock		1,900		1,900		1,900
	Common shares		1,257		1,257		1,257
	Capital surplus		6,281		6,263		6,295
	Retained earnings		12,751		12,375		12,469
	Treasury stock, at cost		(4,946)		(4,940)		(4,909)
	Accumulated other comprehensive income (loss)		738		867		26
		Key shareholders’ equity	17,981		17,722		17,038
	Noncontrolling interests		—		—		—
		Total equity	17,981		17,722		17,038
Total liabilities and equity			$	170,336	$	170,540	$	144,988
Common shares outstanding (000)			975,773		976,205		977,189

Consolidated Statements of Income
(dollars in millions, except per share amounts)
			Three months ended						Twelve months ended
			12/31/2020		9/30/2020		12/31/2019		12/31/2020		12/31/2019
Interest income
	Loans		$	933	$	927	$	1,046	$	3,866	$	4,267
	Loans held for sale		11		18		17		69		63
	Securities available for sale		119		115		137		484		537
	Held-to-maturity securities		51		53		63		222		262
	Trading account assets		4		3		8		20		32
	Short-term investments		4		1		12		18		61
	Other investments		3		2		2		6		13
		Total interest income	1,125		1,119		1,285		4,685		5,235
Interest expense
	Deposits		28		54		201		347		853
	Federal funds purchased and securities sold under repurchase agreements		—		—		1		6		2
	Bank notes and other short-term borrowings		1		1		4		12		17
	Long-term debt		61		64		100		286		454
		Total interest expense	90		119		306		651		1,326
Net interest income			1,035		1,000		979		4,034		3,909
Provision for credit losses			20		160		109		1,021		445
Net interest income after provision for credit losses			1,015		840		870		3,013		3,464
Noninterest income
	Trust and investment services income		123		128		120		507		475
	Investment banking and debt placement fees		243		146		181		661		630
	Service charges on deposit accounts		82		77		86		311		337
	Operating lease income and other leasing gains		39		38		39		167		162
	Corporate services income		63		51		65		228		236
	Cards and payments income		97		114		67		368		275
	Corporate-owned life insurance income		38		30		39		139		136
	Consumer mortgage income		43		51		21		176		63
	Commercial mortgage servicing fees		32		18		19		80		77
	Other income		42		28		14		15		68
		Total noninterest income	802		681		651		2,652		2,459
Noninterest expense
	Personnel		661		588		551		2,336		2,250
	Net occupancy		75		76		76		298		293
	Computer processing		62		59		51		232		214
	Business services and professional fees		54		49		54		196		186
	Equipment		26		25		25		100		100
	Operating lease expense		35		33		32		138		123
	Marketing		30		22		27		97		96
	FDIC assessment		9		6		8		32		31
	Intangible asset amortization		15		15		19		65		89
	OREO expense, net		—		(1)		3		8		13
	Other expense		161		165		134		607		506
		Total noninterest expense	1,128		1,037		980		4,109		3,901
Income (loss) from continuing operations before income taxes			689		484		541		1,556		2,022
	Income taxes		114		60		75		227		314
Income (loss) from continuing operations			575		424		466		1,329		1,708
	Income (loss) from discontinued operations, net of taxes		7		4		3		14		9
Net income (loss)			582		428		469		1,343		1,717
	Less: Net income (loss) attributable to noncontrolling interests		—		—		—		—		—
Net income (loss) attributable to Key			$	582	$	428	$	469	$	1,343	$	1,717
Income (loss) from continuing operations attributable to Key common shareholders			$	549	$	397	$	439	$	1,223	$	1,611
Net income (loss) attributable to Key common shareholders			556		401		442		1,237		1,620
Per common share
Income (loss) from continuing operations attributable to Key common shareholders			$	.57	$	.41	$	.45	$	1.26	$	1.62
Income (loss) from discontinued operations, net of taxes			.01		—		—		.01		.01
Net income (loss) attributable to Key common shareholders (a)			.57		.41		.45		1.28		1.63
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders			$	.56	$	.41	$	.45	$	1.26	$	1.61
Income (loss) from discontinued operations, net of taxes			.01		—		—		.01		.01
Net income (loss) attributable to Key common shareholders (a)			.57		.41		$	.45	1.27		1.62
Cash dividends declared per common share			$	.185	$	.185	$	.185	$	.74	$	.71
Weighted-average common shares outstanding (000)			967,987		967,804		973,450		967,783		992,091
	Effect of common share options and other stock awards		8,473		6,184		10,911		7,024		10,163
Weighted-average common shares and potential common shares outstanding (000) (b)			976,460		973,988		984,361		974,807		1,002,254

(a)Earnings per share may not foot due to rounding.

(b)Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable.