KeyCorp (KEY) 8-K Strong loan growth driven by consumer and commercial businesses

Exhibit 99.3

Consolidated Balance Sheets
(dollars in millions)
			3/31/2022		12/31/2021		3/31/2021
Assets
	Loans		$	106,600	$	101,854	$	100,926
	Loans held for sale		1,170		2,729		2,296
	Securities available for sale		43,681		45,364		33,923
	Held-to-maturity securities		6,871		7,539		6,857
	Trading account assets		848		701		811
	Short-term investments		3,881		11,010		15,376
	Other investments		722		639		621
		Total earning assets	163,773		169,836		160,810
	Allowance for loan and lease losses		(1,105)		(1,061)		(1,438)
	Cash and due from banks		684		913		938
	Premises and equipment		647		681		737
	Goodwill		2,694		2,693		2,673
	Other intangible assets		118		130		173
	Corporate-owned life insurance		4,340		4,327		4,296
	Accrued income and other assets		9,544		8,265		7,347
	Discontinued assets		526		562		667
		Total assets	$	181,221	$	186,346	$	176,203
Liabilities
	Deposits in domestic offices:
		NOW and money market deposit accounts	$	86,829	$	89,207	$	82,777
		Savings deposits	7,840		7,503		6,655
		Certificates of deposit ($100,000 or more)	1,533		1,705		2,437
		Other time deposits	2,037		2,153		2,782
		Total interest-bearing deposits	98,239		100,568		94,651
		Noninterest-bearing deposits	50,424		52,004		47,532
		Total deposits	148,663		152,572		142,183
	Federal funds purchased and securities sold under repurchase agreements		599		173		281
	Bank notes and other short-term borrowings		2,222		588		744
	Accrued expense and other liabilities		3,615		3,548		2,862
	Long-term debt		10,814		12,042		12,499
		Total liabilities	165,913		168,923		158,569
Equity
	Preferred stock		1,900		1,900		1,900
	Common shares		1,257		1,257		1,257
	Capital surplus		6,214		6,278		6,213
	Retained earnings		14,793		14,553		13,166
	Treasury stock, at cost		(5,927)		(5,979)		(5,005)
	Accumulated other comprehensive income (loss)		(2,929)		(586)		103
		Key shareholders’ equity	15,308		17,423		17,634
	Noncontrolling interests		—		—		—
		Total equity	15,308		17,423		17,634
Total liabilities and equity			$	181,221	$	186,346	$	176,203
Common shares outstanding (000)			932,398		928,850		972,587

Consolidated Statements of Income
(dollars in millions, except per share amounts)
			Three months ended						Three months ended
			3/31/2022		12/31/2021		3/31/2021		3/31/2022		3/31/2021
Interest income
	Loans		$	837	$	873	$	889	$	837	$	889
	Loans held for sale		12		15		11		12		11
	Securities available for sale		173		148		130		173		130
	Held-to-maturity securities		46		52		45		46		45
	Trading account assets		6		5		5		6		5
	Short-term investments		4		8		5		4		5
	Other investments		2		2		2		2		2
		Total interest income	1,080		1,103		1,087		1,080		1,087
Interest expense
	Deposits		14		15		21		14		21
	Federal funds purchased and securities sold under repurchase agreements		—		—		—		—		—
	Bank notes and other short-term borrowings		3		2		1		3		1
	Long-term debt		49		53		60		49		60
		Total interest expense	66		70		82		66		82
Net interest income			1,014		1,033		1,005		1,014		1,005
Provision for credit losses			83		4		(93)		83		(93)
Net interest income after provision for credit losses			931		1,029		1,098		931		1,098
Noninterest income
	Trust and investment services income		136		135		133		136		133
	Investment banking and debt placement fees		163		323		162		163		162
	Service charges on deposit accounts		91		90		73		91		73
	Operating lease income and other leasing gains		32		37		38		32		38
	Corporate services income		90		73		64		90		64
	Cards and payments income		80		86		105		80		105
	Corporate-owned life insurance income		31		34		31		31		31
	Consumer mortgage income		21		25		47		21		47
	Commercial mortgage servicing fees		36		48		34		36		34
	Other income		(4)		58		51		(4)		51
		Total noninterest income	676		909		738		676		738
Noninterest expense
	Personnel		630		674		624		630		624
	Net occupancy		73		75		76		73		76
	Computer processing		77		73		73		77		73
	Business services and professional fees		53		70		50		53		50
	Equipment		23		25		25		23		25
	Operating lease expense		28		31		34		28		34
	Marketing		28		37		26		28		26
	Intangible asset amortization		—		—		—		—		—
	Other expense		158		185		163		158		163
		Total noninterest expense	1,070		1,170		1,071		1,070		1,071
Income (loss) from continuing operations before income taxes			537		768		765		537		765
	Income taxes		90		141		147		90		147
Income (loss) from continuing operations			447		627		618		447		618
	Income (loss) from discontinued operations, net of taxes		1		2		4		1		4
Net income (loss)			448		629		622		448		622
	Less: Net income (loss) attributable to noncontrolling interests		—		—		—		—		—
Net income (loss) attributable to Key			$	448	$	629	$	622	$	448	$	622
Income (loss) from continuing operations attributable to Key common shareholders			$	420	$	601	$	591	$	420	$	591
Net income (loss) attributable to Key common shareholders			421		603		595		421		595
Per common share
Income (loss) from continuing operations attributable to Key common shareholders			$	.45	$	.65	$	.61	$	.45	$	.61
Income (loss) from discontinued operations, net of taxes			—		—		—		—		—
Net income (loss) attributable to Key common shareholders (a)			.46		.65		.62		.46		.62
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders			$	.45	$	.64	$	.61	$	.45	$	.61
Income (loss) from discontinued operations, net of taxes			—		—		—		—		—
Net income (loss) attributable to Key common shareholders (a)			.45		.64		$	.61	.45		.61
Cash dividends declared per common share			$	.195	$	.195	$	.185	$	.195	$	.185
Weighted-average common shares outstanding (000)			922,941		922,970		964,878		922,941		964,878
	Effect of common share options and other stock awards		10,692		11,758		9,419		10,692		9,419
Weighted-average common shares and potential common shares outstanding (000) (b)			933,634		934,729		974,297		933,634		974,297

(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.