KeyCorp (KEY) 8-K Reports Third Quarter 2011 and Year-to-date

Exhibit 99.3

Consolidated Balance Sheets

(dollars in millions)

	9-30-11			6-30-11			9-30-10
Assets
Loans	$	48,195		$	47,840		$	51,354
Loans held for sale		479			381			637
Securities available for sale		17,612			18,680			21,241
Held-to-maturity securities		1,176			19			18
Trading account assets		729			769			1,155
Short-term investments		4,766			4,563			1,871
Other investments		1,210			1,195			1,405
Total earning assets		74,167			73,447			77,681
Allowance for loan and lease losses		(1,131	)		(1,230	)		(1,957	)
Cash and due from banks		828			853			823
Premises and equipment		924			919			888
Operating lease assets		393			453			563
Goodwill		917			917			917
Other intangible assets		18			19			39
Corporate-owned life insurance		3,227			3,208			3,145
Derivative assets		940			900			1,258
Accrued income and other assets		2,946			2,968			3,936
Discontinued assets		6,033			6,328			6,750
Total assets	$	89,262		$	88,782		$	94,043
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	27,548		$	26,277		$	26,350
Savings deposits		1,968			1,973			1,856
Certificates of deposit ($100,000 or more)		4,457			4,939			6,850
Other time deposits		6,695			7,167			9,014
Total interest-bearing deposits		40,668			40,356			44,070
Noninterest-bearing deposits		19,803			19,318			16,275
Deposits in foreign office — interest-bearing		561			736			1,073
Total deposits		61,032			60,410			61,418
Federal funds purchased and securities sold under repurchase agreements		1,728			1,668			2,793
Bank notes and other short-term borrowings		519			511			685
Derivative liabilities		1,141			991			1,330
Accrued expense and other liabilities		1,556			1,518			1,862
Long-term debt		10,717			10,997			11,443
Discontinued liabilities		2,651			2,950			3,124
Total liabilities		79,344			79,045			82,655
Equity
Preferred stock, Series A		291			291			291
Preferred stock, Series B		—			—			2,442
Common shares		1,017			1,017			946
Common stock warrant		—			—			87
Capital surplus		4,191			4,191			3,710
Retained earnings		6,079			5,926			5,287
Treasury stock, at cost		(1,820	)		(1,815	)		(1,914	)
Accumulated other comprehensive income (loss)		143			109			285
Key shareholders’ equity		9,901			9,719			11,134
Noncontrolling interests		17			18			254
Total equity		9,918			9,737			11,388
Total liabilities and equity	$	89,262		$	88,782		$	94,043
Common shares outstanding (000)		952,808			953,822			880,328

Consolidated Statements of Income

(dollars in millions, except per share amounts)

	Three months ended									Nine months ended
	9-30-11			6-30-11			9-30-10			9-30-11			9-30-10
Interest income
Loans	$	543		$	551		$	649		$	1,664		$	2,036
Loans held for sale		3			3			4			10			13
Securities available for sale		140			149			170			455			474
Held-to-maturity securities		2			1			1			3			2
Trading account assets		5			9			8			21			29
Short-term investments		3			1			1			5			5
Other investments		9			12			11			33			38
Total interest income		705			726			844			2,191			2,597
Interest expense
Deposits		95			100			147			305			547
Federal funds purchased and securities sold under repurchase agreements		1			2			1			4			4
Bank notes and other short-term borrowings		3			3			4			9			11
Long-term debt		57			57			52			163			153
Total interest expense		156			162			204			481			715
Net interest income		549			564			640			1,710			1,882
Provision (credit) for loan and lease losses		10			(8	)		94			(38	)		735
Net interest income (expense) after provision for loan and lease losses		539			572			546			1,748			1,147
Noninterest income
Trust and investment services income		107			113			110			330			336
Service charges on deposit accounts		74			69			75			211			231
Operating lease income		30			32			41			97			131
Letter of credit and loan fees		55			47			61			157			143
Corporate-owned life insurance income		31			28			39			86			95
Net securities gains (losses)(a)		—			2			1			1			2
Electronic banking fees		33			33			30			96			86
Gains on leased equipment		7			5			4			16			14
Insurance income		13			14			15			42			52
Net gains (losses) from loan sales		18			11			18			48			47
Net gains (losses) from principal investing		34			17			18			86			72
Investment banking and capital markets income (loss)		25			42			42			110			82
Other income		56			41			32			114			137
Total noninterest income		483			454			486			1,394			1,428
Noninterest expense
Personnel		382			380			359			1,133			1,106
Net occupancy		65			62			70			192			200
Operating lease expense		23			25			40			76			114
Computer processing		40			42			46			124			140
Business services and professional fees		47			44			41			129			120
FDIC assessment		7			9			27			45			97
OREO expense, net		1			(3	)		4			8			58
Equipment		26			26			24			78			74
Marketing		16			10			21			36			50
Provision (credit) for losses on lending-related commitments		(1	)		(12	)		(10	)		(17	)		(22	)
Other expense		86			97			114			269			353
Total noninterest expense		692			680			736			2,073			2,290
Income (loss) from continuing operations before income taxes		330			346			296			1,069			285
Income taxes		95			94			85			300			14
Income (loss) from continuing operations		235			252			211			769			271
Income (loss) from discontinued operations, net of taxes		(17	)		(9	)		15			(37	)		(10	)
Net income (loss)		218			243			226			732			261
Less: Net income (loss) attributable to noncontrolling interests		1			3			7			12			27
Net income (loss) attributable to Key	$	217		$	240		$	219		$	720		$	234
Income (loss) from continuing operations attributable to Key common shareholders	$	229		$	243		$	163		$	656		$	121
Net income (loss) attributable to Key common shareholders		212			234			178			619			111
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.24		$	.26		$	.19		$	.71		$	.14
Income (loss) from discontinued operations, net of taxes		(.02	)		(.01	)		.02			(.04	)		(.01	)
Net income (loss) attributable to Key common shareholders		.22			.25			.20			.67			.13
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.24		$	.26		$	.19		$	.71		$	.14
Income (loss) from discontinued operations, net of taxes		(.02	)		(.01	)		.02			(.04	)		(.01	)
Net income (loss) attributable to Key common shareholders		.22			.25			.20			.67			.13
Cash dividends declared per common share	$	.03		$	.03		$	.01		$	.07		$	.03
Weighted-average common shares outstanding (000)		948,702			947,565			874,433			926,298			874,495
Weighted-average common shares and potential common shares outstanding (000) (b)		950,686			952,133			874,433			930,449			874,495

(a) For the three months ended September 30, 2011, June 30, 2011, and September 30, 2010, Key did not have any impairment losses related to securities.

(b) Assumes conversion of stock options and/or Preferred Series A shares, as applicable.