8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 25, 2011

Key Corp

(Exact name of registrant as specified in its charter)

Ohio	1-11302	34-6542451
(State or other jurisdiction of incorporation)	Commission File Number	(I.R.S. Employer Identification No.)
127 Public Square, Cleveland, Ohio		44114-1306
(Address of principal executive offices)		(Zip Code)

(216) 689-3000

Registrant’s telephone number, including area code:

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

8-K — FORM 8-K EARNINGS RELEASE

ITEM 2.02. Results of Operations and Financial Condition.

ITEM 7.01. Regulation FD Disclosure.

ITEM 9.01. Financial Statements and Exhibits.

SIGNATURE

INDEX TO EXHIBITS:

EX-99.1 (Press Release Dated January 25, 2011)

EX-99.2 (Supplemental Information Package in Connection With Financial Results)

EX-99.3 (Consolidated Balance Sheets and Consolidated Statements of Income)

Section 2 — Financial Information

Item 2.02 Results of Operations and Financial Condition.

     On January 25, 2011, KeyCorp issued a press release announcing its financial results for the three and twelve-month periods ended December 31, 2010 (the “Press Release”). The Press Release is attached as Exhibit 99.1 to this report and incorporated by reference in this Item 2.02.

     The information in the preceding paragraph, as well as Exhibit 99.1 and Exhibit 99.2 referenced therein, shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”).

     KeyCorp’s Consolidated Balance Sheets and Consolidated Statements of Income (the “Financial Statements”), included as part of the Press Release, are attached as Exhibit 99.3 to this report and incorporated by reference herein. Exhibit 99.3 is “filed” for purposes of Section 18 of the Exchange Act and, therefore, may be incorporated by reference in filings under the Securities Act.

Item 7.01 Regulation FD Disclosure.

     On January 25, 2011, KeyCorp held a conference call and webcast to facilitate a discussion of its financial condition at December 31, 2010, and its financial results for the three and twelve-month periods ended December 31, 2010. The Supplemental Information Package reviewed by KeyCorp during the conference call and webcast is furnished herewith as Exhibit 99.2 and incorporated by reference in this Item 7.01. All information in the Supplemental Information Package is presented as of the particular dates or for the periods referenced therein, and KeyCorp does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

     The information in the preceding paragraph, as well as Exhibit 99.2 referenced therein, is being furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that section. Furthermore, the information contained in Exhibit 99.2 shall not be deemed incorporated by reference in any filing of KeyCorp under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished, or filed in the case of Exhibit 99.3, herewith:

99.1 KeyCorp’s Press Release, dated January 25, 2011, announcing KeyCorp’s financial results for the three and twelve-month periods ended December 31, 2010.

99.2 KeyCorp’s Supplemental Information Package reviewed by KeyCorp during the conference call and webcast.

99.3 KeyCorp’s Financial Statements.

* * *

     Forward-Looking Statements This filing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Key’s financial condition, results of operations, earnings outlook, asset quality trends and profitability. Forward-looking statements are not historical facts but instead represent only management’s current expectations and forecasts regarding future events, many of which, by their nature, are inherently uncertain and outside of Key’s control. Key’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Factors that could cause Key’s actual results to differ materially from those described in the forward-looking statements can be found in Key’s Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Reports on Form 10-Q for the periods ended March 31, 2010, June 30, 2010, and September 30, 2010, which have been filed with the Securities and Exchange Commission and are available on Key’s website (www.key.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Forward-looking statements are not guarantees of future performance and should not be relied upon as representing management’s views as of any subsequent date. Key does not undertake any obligation to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, KeyCorp has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	KEYCORP
	(Registrant)
Date: January 25, 2011	By:	/s/ Robert L. Morris
		Robert L. Morris
		Executive Vice President and Chief Accounting Officer

EX-99.1

Exhibit 99.1

News
	KeyCorp
	127 Public Square
	Cleveland, OH 44114

CONTACTS:	ANALYSTS	MEDIA
	Vernon L. Patterson	William C. Murschel
	216.689.0520	216.471.2885
	Vernon_Patterson@KeyBank.com	William_C_Murschel@KeyBank.com
	Christopher F. Sikora
	216.689.3133
	Chris_F_Sikora@KeyBank.com

INVESTOR	KEY MEDIA
RELATIONS: www.key.com/ir	NEWSROOM: www.key.com/newsroom
FOR IMMEDIATE RELEASE

KEYCORP REPORTS
FOURTH QUARTER NET INCOME OF $292 MILLION
2010 NET INCOME OF $413 MILLION

• Net income from continuing operations of $292 million, or $.33 per common share, for the fourth quarter of 2010

• Full year net income from continuing operations of $413 million, or $.47 per common share

• Net interest margin at 3.31% for the fourth quarter of 2010

• Nonperforming loans down $304 million to 2.13% of period-end loans

• Nonperforming assets down $463 million

• Loan loss reserve at 3.20% of total period-end loans

• Reserve coverage ratio of nonperforming loans increased to 150% at December 31, 2010

• Net charge-offs declined to $256 million, or 2.00% of average loan balances, for the fourth quarter of 2010

• Tier 1 common equity and Tier 1 risk-based capital ratios estimated at 9.31% and 15.10%, respectively, at December 31, 2010

     CLEVELAND, January 25, 2011 — KeyCorp (NYSE: KEY) today announced fourth quarter net income from continuing operations attributable to Key common shareholders of $292 million, or $.33 per common share. These results compare to a net loss from continuing operations attributable to Key common shareholders of $258 million, or $.30 per common share, for the fourth quarter of 2009. The fourth quarter 2010 results reflect an improvement in pre-provision net revenue and lower credit costs from the same period one-year ago. The fourth quarter 2009 results were negatively impacted by a $756 million loan loss provision. Fourth quarter 2010 net income attributable to Key common shareholders was $279 million compared to a net loss attributable to Key common shareholders of $265 million for the same quarter one year ago.

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 2

     For 2010, Key’s net income from continuing operations attributable to common shareholders was $413 million, or $.47 per common share. Results for the current year compare to a net loss from continuing operations attributable to Key common shareholders of $1.581 billion, or $2.27 per common share, for 2009. The 2009 results were adversely impacted by an elevated loan loss provision and write-offs of certain intangible assets. Net income attributable to Key common shareholders for the year ended December 31, 2010, was $390 million compared to a net loss attributable to Key common shareholders of $1.629 billion for the same period one year ago.

     “Key’s fourth quarter performance represents a strong finish to the year. We continue to make meaningful progress in both profitability and credit quality,” said Chairman and Chief Executive Officer Henry L. Meyer III. “Furthermore, we are increasingly confident that the strategic actions we have undertaken will continue to yield favorable results into 2011.”

     “With three consecutive profitable quarters, and continued signs of increased economic activity on the part of our clients, Key has clearly turned the corner and is positioned well to compete in 2011,” added Meyer. “Our core financial measures — strong capital, enhanced liquidity, adequate loan loss reserves, as well as our exit from riskier lending categories — represent a firm foundation for profitability in the year ahead.”

     Meyer said he was particularly pleased with Key’s improvement in credit quality metrics and the Company’s capital position. Credit quality continued to improve across the majority of loan portfolios in both Key Community Bank and Key Corporate Bank, as nonperforming assets were down $463 million and nonperforming loans decreased by $304 million from the previous quarter, and net charge-offs declined to $256 million for the fourth quarter of 2010.

     With respect to TARP repayment, Meyer stated: “We are aware that certain of our peer banks have recently repaid TARP. The Comprehensive Capital Assessment Plan we submitted on January 7, 2011, included our proposal for repaying the TARP preferred stock in a manner that we believe makes sense for Key and our shareholders. Repaying TARP is a top priority for Key, but our patience has been appropriate because it has allowed us to demonstrate improved financial performance and an increased stock price. Moreover, given the strength of our capital and our improved risk profile and profitability, it is our goal to repay TARP in a less dilutive manner than would have been achievable if we repaid prior to undergoing the Federal Reserve’s Comprehensive Capital Assessment. All of this is subject to obtaining requisite regulatory approvals.”

     At December 31, 2010, Key’s estimated Tier 1 common equity and Tier 1 risk-based capital ratios were 9.31% and 15.10%, compared to 8.61% and 14.30%, respectively, at September 30, 2010.

     Key’s strong capital and liquidity positions provide the Company with the ability to serve the borrowing needs of our clients as the economy expands. The Company originated approximately $8.5 billion in new or renewed lending commitments to consumers and businesses during the quarter and approximately $29.5 billion for the year ended December 31, 2010.

     Meyer also noted that over the last two years, Key has opened 77 new branches and renovated approximately 145 others, expanding Key’s 14-state branch network to 1,033 branches. The Company plans to build an additional 40 new branches in 2011. Key also recently announced that it scored significantly higher than its four largest competitor banks in a third quarter 2010 customer satisfaction survey conducted by the American Customer

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 3

Satisfaction Index. Key’s scores were significantly better than bank industry scores across multiple dimensions, most notably Customer Loyalty.

     During the quarter, Key announced that Meyer will retire on May 1, 2011, and that Beth E. Mooney has been elected President and Chief Operating Officer of KeyCorp and a member of KeyCorp’s Board of Directors. Mooney will assume the additional role of Chairman and Chief Executive Officer on May 1, 2011, and become the first woman CEO of a top 20 U.S. bank. Mooney, who has over 30 years of experience in retail banking, commercial lending, and real estate financing, was previously Vice Chair of KeyCorp and head of Key’s Community Bank business.

     Key also announced the elections of William R. Koehler to President, Key Community Bank and Christopher M. Gorman to President, Key Corporate Bank (previously known as Key National Banking). Koehler has 20 years of experience in the financial services industry, most recently as President of KeyBank’s Great Lakes Region. In his new role, Koehler is responsible for Key’s businesses associated with its 14-state branch network, including retail banking, small- and middle-market business banking, private banking, investment services and mortgage. Gorman was previously the senior executive vice president and head of the now renamed Key Corporate Bank.

     The following table shows Key’s continuing and discontinued operating results for the comparative quarters and for the years ended December 31, 2010, and 2009.

Results of Operations

	Three months ended								Twelve months ended
in millions, except per share amounts	12-31-10			9-30-10		12-31-09			12-31-10			12-31-09
Summary of operations
Income (loss) from continuing operations attributable to Key	$	333		$	204	$	(217	)	$	577		$	(1,287	)
Income (loss) from discontinued operations, net of taxes (a)		(13	)		15		(7	)		(23	)		(48	)
Net income (loss) attributable to Key	$	320		$	219	$	(224	)	$	554		$	(1,335	)
Income (loss) from continuing operations attributable to Key	$	333		$	204	$	(217	)	$	577		$	(1,287	)
Less: Dividends on Series A Preferred Stock		6			6		5			23			39
Noncash deemed dividend — common shares exchanged for Series A Preferred Stock		—			—		—			—			114
Cash dividends on Series B Preferred Stock		31			31		31			125			125
Amortization of discount on Series B Preferred Stock		4			4		5			16			16
Income (loss) from continuing operations attributable to Key common shareholders		292			163		(258	)		413			(1,581	)
Income (loss) from discontinued operations, net of taxes (a)		(13	)		15		(7	)		(23	)		(48	)
Net income (loss) attributable to Key common shareholders	$	279		$	178	$	(265	)	$	390		$	(1,629	)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.33		$	.19	$	(.30	)	$	.47		$	(2.27	)
Income (loss) from discontinued operations, net of taxes (a)		(.02	)		.02		(.01	)		(.03	)		(.07	)
Net income (loss) attributable to Key common shareholders (b)	$	.32		$	.20	$	(.30	)	$	.44		$	(2.34	)

(a)

In September 2009, management made the decision to discontinue the education lending business conducted through Key Education Resources, the education payment and financing unit of KeyBank National Association. In April 2009, management made the decision to curtail the operations of Austin Capital Management, Ltd., an investment subsidiary that specializes in managing hedge fund investments for its institutional customer base. As a result of these decisions, Key has accounted for these businesses as discontinued operations. The loss from discontinued operations for the year ended December 31, 2010, was primarily attributable to fair value adjustments related to the education lending securitization trusts. Included in the loss from discontinued operations for the year ended December 31, 2009, is a $23 million after-tax, or $.05 per common share, charge for intangible assets impairment related to Austin Capital Management.

(b)

Earnings per share may not foot due to rounding.

SUMMARY OF CONTINUING OPERATIONS

     Taxable-equivalent net interest income was $635 million for the fourth quarter of 2010, and the net interest margin was 3.31%. These results compare to taxable-equivalent net interest income of $637 million and a net interest margin of 3.04% for the fourth quarter of 2009. The increase in the net interest margin is primarily attributable to lower funding costs. The

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 4

Company continues to experience an improvement in the mix of deposits by reducing the level of higher costing certificates of deposit and growing lower costing transaction accounts. This benefit to the net interest margin was partially offset by a lower level of average earning assets compared to the same period one year ago resulting from pay downs on loans.

     Compared to the third quarter of 2010, taxable-equivalent net interest income decreased by $12 million, and the net interest margin declined four basis points. The modest decline in the net interest margin reflects the combined effect of hedge maturities and change in the mix of earning assets, with average loan balances declining and average balances of lower yielding investment securities increasing. These impacts were moderated by a continued decrease in the total cost of funds during this period due to the repricing of certificates of deposit and a continued overall improved mix of deposits.

     Key’s noninterest income was $526 million for the fourth quarter of 2010, compared to $469 million for the year-ago quarter. Investment banking and capital markets income increased $110 million compared to the same period one-year ago. In the fourth quarter of 2009, the Company incurred losses on certain real estate investments, recorded additional reserves on customer derivative positions, and recorded a loss on certain commercial mortgage-backed securities. In total, these amounted to a reduction of fee income of $87 million in the fourth quarter of 2009. This compares to income of $18 million recorded in the fourth quarter of 2010 as a result of improved credit quality. In addition, net gains from loan sales increased $34 million from the fourth quarter of 2009, and the Company realized a gain of $28 million from the sale of Tuition Management Systems in the fourth quarter of 2010. These gains were partially offset by decreases of $86 million in net gains (losses) from principal investing (including results attributable to noncontrolling interests), $12 million in service charges on deposit accounts, and $10 million in operating lease income from the fourth quarter of 2009.

     The major components of Key’s fee-based income for the past five quarters are shown in the following table.

Fee-based Income — Major Components

in millions	4Q10			3Q10		2Q10		1Q10		4Q09
Trust and investment services income	$	108		$	110	$	112	$	114	$	117
Service charges on deposit accounts		70			75		80		76		82
Operating lease income		42			41		43		47		52
Letter of credit and loan fees		51			61		42		40		52
Corporate-owned life insurance income		42			39		28		28		36
Electronic banking fees		31			30		29		27		27
Insurance income		12			15		19		18		16
Net gains (losses) from principal investing		(6	)		18		17		37		80
Investment banking and capital markets income (loss)		63			42		31		9		(47	)

     Compared to the third quarter of 2010, noninterest income increased by $40 million. The increase resulted from a $28 million gain from the sale of Tuition Management Systems and a $21 million increase in investment banking and capital markets income, primarily attributable to a positive adjustment to our customer derivative reserve. In addition, the Company sold several investment securities during the quarter resulting in an increase of $11 million in net securities gains. These increases were partially offset by a decrease of $24 million in net gains (losses) from principal investing (including results attributable to noncontrolling interests).

     Key’s noninterest expense was $744 million for the fourth quarter of 2010, compared to $871 million for the same period last year. Key recorded a credit of $26 million to the provision for losses on lending-related commitments during the fourth quarter of 2010,

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 5

compared to a charge to the provision of $27 million in the year-ago quarter. Also contributing to the decrease in noninterest expense was a decline in employee benefits expense of $41 million as a result of lower pension expense and medical claims expense. Additionally, in the fourth quarter of 2010, operating lease expense was $22 million less and other real estate owned (“OREO”) expense was $15 million less than the year-ago quarter.

     Compared to the third quarter of 2010, noninterest expense increased by $8 million. Increases in noninterest expense included $15 million in business services and professional fees, $6 million in personnel expense, $6 million in OREO expense, and $7 million in various other miscellaneous expenses. These increases were partially offset by decreases in the provision for losses on lending-related commitments of $16 million and operating lease expense of $12 million.

ASSET QUALITY

     Key’s provision for loan losses was a credit of $97 million for the fourth quarter of 2010, compared to a charge of $756 million for the year-ago quarter and $94 million for the third quarter of 2010. Key’s allowance for loan losses was $1.6 billion, or 3.20% of total period-end loans, at December 31, 2010, compared to 3.81% at September 30, 2010, and 4.31% at December 31, 2009.

     Selected asset quality statistics for Key for each of the past five quarters are presented in the following table.

Selected Asset Quality Statistics from Continuing Operations

dollars in millions	4Q10			3Q10			2Q10			1Q10			4Q09
Net loan charge-offs	$	256		$	357		$	435		$	522		$	708
Net loan charge-offs to average loans		2.00	%		2.69	%		3.18	%		3.67	%		4.64	%
Allowance for loan losses	$	1,604		$	1,957		$	2,219		$	2,425		$	2,534
Allowance for credit losses (a)		1,677			2,056			2,328			2,544			2,655
Allowance for loan losses to period-end loans		3.20	%		3.81	%		4.16	%		4.34	%		4.31	%
Allowance for credit losses to period-end loans		3.35			4.00			4.36			4.55			4.52
Allowance for loan losses to nonperforming loans		150.19			142.64			130.30			117.43			115.87
Allowance for credit losses to nonperforming loans		157.02			149.85			136.70			123.20			121.40
Nonperforming loans at period end	$	1,068		$	1,372		$	1,703		$	2,065		$	2,187
Nonperforming assets at period end		1,338			1,801			2,086			2,428			2,510
Nonperforming loans to period-end portfolio loans		2.13	%		2.67	%		3.19	%		3.69	%		3.72	%
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets		2.66			3.48			3.88			4.31			4.25

(a) Includes the allowance for loan losses plus the liability for credit losses on lending-related commitments.

     Net loan charge-offs for the quarter totaled $256 million, or 2.00%, of average loans. These results compare to $708 million, or 4.64%, for the same period last year and $357 million, or 2.69%, for the previous quarter. Net loan charge-offs declined each quarter during 2010 and are at their lowest level since the first quarter of 2008.

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January 25, 2011
Page 6

     Key’s net loan charge-offs by loan type for each of the past five quarters are shown in the following table.

Net Loan Charge-offs from Continuing Operations

dollars in millions	4Q10			3Q10			2Q10			1Q10			4Q09
Commercial, financial and agricultural	$	80		$	136		$	136		$	126		$	218
Real estate — commercial mortgage		52			46			126			106			165
Real estate — construction		28			76			75			157			181
Commercial lease financing		12			16			14			21			39
Total commercial loans		172			274			351			410			603
Home equity — Key Community Bank		26			35			25			30			27
Home equity — Other		13			13			16			17			19
Marine		17			12			19			38			33
Other		28			23			24			27			26
Total consumer loans		84			83			84			112			105
Total net loan charge-offs	$	256		$	357		$	435		$	522		$	708
Net loan charge-offs to average loans from continuing operations		2.00	%		2.69	%		3.18	%		3.67	%		4.64	%
Net loan charge-offs from discontinued operations — education lending business	$	32		$	22		$	31		$	36		$	36

     Compared to the third quarter of 2010, net loan charge-offs in the commercial loan portfolio decreased by $102 million. The decrease was primarily attributable to a decline in the commercial, financial and agricultural and the real estate — construction loan portfolios. As shown in the table on page 7, Key’s exit loan portfolio accounted for $81 million, or 31.64%, of Key’s total net loan charge-offs for the fourth quarter of 2010. Net charge-offs in the exit loan portfolio decreased by $24 million from the third quarter of 2010, primarily driven by an improvement in the commercial lease financing portfolio.

     At December 31, 2010, Key’s nonperforming loans totaled $1.1 billion and represented 2.13% of period-end portfolio loans, compared to 2.67% at September 30, 2010, and 3.72% at December 31, 2009. Nonperforming assets at December 31, 2010, totaled $1.3 billion and represented 2.66% of portfolio loans and OREO and other nonperforming assets, compared to 3.48% at September 30, 2010, and 4.25% at December 31, 2009. The following table illustrates the trend in Key’s nonperforming assets by loan type over the past five quarters.

Nonperforming Assets from Continuing Operations

dollars in millions	4Q10			3Q10			2Q10			1Q10			4Q09
Commercial, financial and agricultural	$	242		$	335		$	489		$	558		$	586
Real estate — commercial mortgage		255			362			404			579			614
Real estate — construction		241			333			473			607			641
Commercial lease financing		64			84			83			99			113
Total consumer loans		266			258			254			222			233
Total nonperforming loans		1,068			1,372			1,703			2,065			2,187
Nonperforming loans held for sale		106			230			221			195			116
OREO and other nonperforming assets		164			199			162			168			207
Total nonperforming assets	$	1,338		$	1,801		$	2,086		$	2,428		$	2,510
Restructured loans — accruing and nonaccruing (a)	$	297		$	360		$	343		$	323		$	364
Restructured loans included in nonperforming loans (a)		202			228			213			226			364
Nonperforming assets from discontinued operations — education lending business		40			38			40			43			14
Nonperforming loans to period-end portfolio loans		2.13	%		2.67	%		3.19	%		3.69	%		3.72	%
Nonperforming assets to period-end portfolio loans, plus OREO and other nonperforming assets		2.66			3.48			3.88			4.31			4.25

(a) Restructured loans (i.e. troubled debt restructurings) are those for which Key, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. These concessions are made to improve the collectability of the loan and generally take the form of a reduction of the interest rate, extension of the maturity date or reduction in the principal balance.

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January 25, 2011
Page 7

     Nonperforming assets continued to decrease during the fourth quarter of 2010, representing the fifth consecutive quarterly decline and now stand at their lowest level since the third quarter of 2008. Most of the reduction during the fourth quarter came from nonperforming loans in the commercial, financial and agricultural, the real estate — commercial mortgage, and the real estate — construction portfolios. As shown in the following table, Key’s exit loan portfolio accounted for $210 million, or 15.70%, of Key’s total nonperforming assets at December 31, 2010, compared to $290 million, or 16.10%, at September 30, 2010.

     The following table shows the composition of Key’s exit loan portfolio at December 31, 2010, and September 30, 2010, the net charge-offs recorded on this portfolio for the third and fourth quarters of 2010, and the nonperforming status of these loans at December 31, 2010, and September 30, 2010.

Exit Loan Portfolio from Continuing Operations

	Balance				Change			Net Loan				Balance on
	Outstanding				12-31-10 vs.			Charge-offs				Nonperforming Status
in millions	12-31-10		9-30-10		9-30-10			4Q10		3Q10		12-31-10		9-30-10
Residential properties — homebuilder	$	113	$	148	$	(35	)	$	16	$	23	$	66	$	94
Residential properties — held for sale		—		8		(8	)		—		—		—		8
Total residential properties		113		156		(43	)		16		23		66		102
Marine and RV floor plan		166		225		(59	)		12		7		37		42
Commercial lease financing (a)		2,047		2,231		(184	)		20		47		46		88
Total commercial loans		2,326		2,612		(286	)		48		77		149		232
Home equity — Other		666		707		(41	)		13		13		18		16
Marine		2,234		2,355		(121	)		17		12		42		41
RV and other consumer		162		172		(10	)		3		3		1		1
Total consumer loans		3,062		3,234		(172	)		33		28		61		58
Total exit loans in loan portfolio	$	5,388	$	5,846	$	(458	)	$	81	$	105	$	210	$	290
Discontinued operations — education lending business (not included in exit loans above) (b)	$	6,466	$	6,651	$	(185	)	$	32	$	22	$	39	$	38

(a)	Includes the business aviation, commercial vehicle, office products, construction and industrial leases, and Canadian lease financing portfolios; and all remaining balances related to lease in, lease out; sale in, sale out; service contract leases; and qualified technological equipment leases.
(b)	Includes loans in Key’s education loan securitization trusts consolidated upon the adoption of new consolidation accounting guidance on January 1, 2010.

CAPITAL

     Key’s risk-based capital ratios included in the following table continued to exceed all “well-capitalized” regulatory benchmarks at December 31, 2010.

Capital Ratios

	12-31-10			9-30-10			6-30-10			3-31-10			12-31-09
Tier 1 common equity (a), (b)		9.31	%		8.61	%		8.07	%		7.51	%		7.50	%
Tier 1 risk-based capital (a)		15.10			14.30			13.62			12.92			12.75
Total risk-based capital (a)		19.05			18.22			17.80			17.07			16.95
Tangible common equity to tangible assets (b)		8.19			8.00			7.65			7.37			7.56

(a)	12-31-10 ratio is estimated.
(b)	The table entitled “GAAP to Non-GAAP Reconciliations” presents the computations of certain financial measures related to “tangible common equity” and “Tier 1 common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

     As shown in the preceding table, at December 31, 2010, Key had an estimated Tier 1 common equity ratio of 9.31%, an estimated Tier 1 risk-based capital ratio of 15.10%, and a tangible common equity ratio of 8.19%. Since December 31, 2009, Key’s Tier 1 common

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January 25, 2011
Page 8

equity ratio has increased 181 basis points as a result of returning to profitability and a lower level of risk-weighted assets.

     The changes in Key’s outstanding common shares over the past five quarters are summarized in the following table.

Summary of Changes in Common Shares Outstanding

in thousands	4Q10		3Q10			2Q10		1Q10		4Q09
Shares outstanding at beginning of period		880,328		880,515			879,052		878,535		878,559
Shares reissued (returned) under employee benefit plans		280		(187	)		1,463		517		(24	)
Shares outstanding at end of period		880,608		880,328			880,515		879,052		878,535

     During the fourth quarter of 2010, Key made a $31 million cash dividend payment to the U.S. Treasury Department as a participant in the U.S. Treasury’s Capital Purchase Program. During 2010 and 2009, Key made four quarterly dividend payments aggregating $125 million each year to the U.S. Treasury Department.

LINE OF BUSINESS RESULTS

     The following table shows the contribution made by each major business group to Key’s taxable-equivalent revenue from continuing operations and income (loss) from continuing operations attributable to Key for the periods presented. The specific lines of business that comprise each of the major business groups are described under the heading “Line of Business Descriptions.” During the first quarter of 2010, Key realigned its reporting structure for its business groups. Prior to 2010, Consumer Finance consisted mainly of portfolios that were identified as exit or run-off portfolios and were included in the Key Corporate Bank segment (previously known as Key National Banking). Effective for all periods presented, Key is reflecting the results of these exit portfolios in Other Segments. The automobile dealer floor plan business, previously included in Consumer Finance, has been realigned with the Commercial Banking line of business within the Key Community Bank segment. In addition, other previously identified exit portfolios included in the Key Corporate Bank segment have been moved to Other Segments. For more detailed financial information pertaining to each business group and its respective lines of business, see the tables at the end of this release.

Major Business Groups

										Percent change 4Q10 vs.
dollars in millions	4Q10			3Q10			4Q09			3Q10			4Q09
Revenue from continuing operations (TE)
Key Community Bank	$	601		$	601		$	627			—			(4.1	)%
Key Corporate Bank		464			430			340			7.9	%		36.5
Other Segments		78			103			130			(24.3	)		(40.0	)
Total Segments		1,143			1,134			1,097			.8			4.2
Reconciling Items		18			(1	)		9			N/M			100.0
Total	$	1,161		$	1,133		$	1,106			2.5	%		5.0	%
Income (loss) from continuing operations
attributable to Key
Key Community Bank	$	61		$	57		$	(40	)		7.0	%		N/M
Key Corporate Bank		302			130			(213	)		132.3			N/M
Other Segments		(13	)		19			(57	)		(168.4	)		N/M
Total Segments		350			206			(310	)		69.9			N/M
Reconciling Items		(17	)		(2	)		93			N/M			(118.3	)%
Total	$	333		$	204		$	(217	)		63.2	%		N/M

TE = Taxable Equivalent, N/M = Not Meaningful

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January 25, 2011
Page 9

Key Community Bank

								Percent change 4Q10 vs.
dollars in millions	4Q10		3Q10		4Q09			3Q10			4Q09
Summary of operations
Net interest income (TE)	$	395	$	404	$	429			(2.2)	%		(7.9	)%
Noninterest income		206		197		198			4.6			4.0
Total revenue (TE)		601		601		627			—			(4.1	)
Provision for loan losses		74		75		230			(1.3	)		(67.8	)
Noninterest expense		456		458		489			(.4	)		(6.7	)%
Income (loss) before income taxes (TE)		71		68		(92	)		4.4			N/M
Allocated income taxes and TE adjustments		10		11		(52	)		(9.1	)		N/M
Net income (loss) attributable to Key	$	61	$	57	$	(40	)		7.0	%		N/M
Average balances
Loans and leases	$	26,437	$	26,779	$	28,321			(1.3)	%		(6.7	)%
Total assets		29,822		30,004		31,048			(.6	)		(3.9	)
Deposits		48,143		48,703		52,640			(1.1	)		(8.5	)
Assets under management at period end	$	18,788	$	17,816	$	17,709			5.5	%		6.1	%

TE = Taxable Equivalent, N/M = Not Meaningful

Additional Key Community Bank Data										Percent change 4Q10 vs.
dollars in millions	4Q10			3Q10			4Q09			3Q10			4Q09
Average deposits outstanding
NOW and money market deposit accounts	$	20,513		$	20,124		$	17,931			1.9	%		14.4	%
Savings deposits		1,863			1,872			1,784			(.5	)		4.4
Certificates of deposit ($100,000 or more)		4,885			5,449			8,165			(10.4	)		(40.2	)
Other time deposits		8,638			9,596			13,708			(10.0	)		(37.0	)
Deposits in foreign office		421			368			529			14.4			(20.4	)
Noninterest-bearing deposits		11,823			11,294			10,523			4.7			12.4
Total deposits	$	48,143		$	48,703		$	52,640			(1.1)	%		(8.5	)%
Home equity loans
Average balance	$	9,582		$	9,709		$	10,101
Weighted-average loan-to-value ratio (at date of origination)		70	%		70	%		70	%
Percent first lien positions		53			52			53
Other data
Branches		1,033			1,029			1,007
Automated teller machines		1,531			1,522			1,495

Key Community Bank Summary of Operations

     Key Community Bank recorded net income attributable to Key of $61 million for the fourth quarter of 2010, compared to a net loss attributable to Key of $40 million for the year-ago quarter. A substantial decrease in the provision for loan losses was the main contributor to the improvement in the fourth quarter of 2010.

     Taxable-equivalent net interest income declined by $34 million, or 8%, from the fourth quarter of 2009, due primarily to a decline in average deposits of $4 billion, or 9%. The mix of deposits continues to change from the year-ago quarter as higher-costing certificates of deposit originated in prior years mature, partially offset by growth in noninterest-bearing deposits and NOW and money market savings accounts. Average earning assets also decreased by $2 billion, or 7%, from the year-ago quarter.

     Noninterest income increased by $8 million, or 4%, from the year-ago quarter, due to higher income from mortgage loan sale gains, electronic banking fees, trust and investment services, and a reduction in the provision for credit losses from client derivatives. These factors were partially offset by the anticipated lower service charges on deposits from the implementation of Regulation E which was consistent with Key’s expectations.

     The provision for loan losses declined by $156 million, or 68%, compared to the fourth quarter of 2009 due to improving economic conditions resulting in lower net charge-offs and nonperforming loans from the same period one year ago.

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January 25, 2011
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     Noninterest expense declined by $33 million, or 7%, from the year-ago quarter. The decrease was driven by reductions in personnel expense, the provision for losses on lending-related commitments, FDIC deposit insurance premiums, and corporate allocated costs. These improvements were partially offset by increased business services and professional fees, reflecting the cost of our third-party mortgage operations.

Key Corporate Bank

										Percent change 4Q10 vs.
dollars in millions	4Q10			3Q10			4Q09			3Q10			4Q09
Summary of operations
Net interest income (TE)	$	206		$	201		$	208			2.5	%		(1.0	)%
Noninterest income		258			229			132			12.7			95.5
Total revenue (TE)		464			430			340			7.9			36.5
Provision for loan losses		(263	)		(25	)		382			N/M			(168.8	)
Noninterest expense		249			248			300			.4			(17.0	)
Income (loss) before income taxes (TE)		478			207			(342	)		130.9			N/M
Allocated income taxes and TE adjustments		177			77			(130	)		129.9			N/M
Net income (loss)		301			130			(212	)		131.5			N/M
Less: Net income (loss) attributable to noncontrolling interests		(1	)		—			1			N/M			(200.0	)%
Net income (loss) attributable to Key	$	302		$	130		$	(213	)		132.3	%		N/M
Average balances
Loans and leases	$	18,601		$	19,534		$	24,011			(4.8)	%		(22.5	)%
Loans held for sale		253			380			431			(33.4	)		(41.3	)
Total assets		22,602			23,765			28,253			(4.9	)		(20.0	)
Deposits		12,961			11,779			13,257			10.0			(2.2	)
Assets under management at period end	$	41,027		$	41,902		$	49,230			(2.1)	%		(16.7	)%

TE = Taxable Equivalent, N/M = Not Meaningful

Key Corporate Bank Summary of Operations

     Key Corporate Bank recorded net income attributable to Key of $302 million for the fourth quarter of 2010, compared to a net loss attributable to Key of $213 million for the same period one year ago. This improvement in the fourth quarter of 2010 was a result of a substantial decrease in the provision for loan losses.

     Taxable-equivalent net interest income decreased by $2 million, or 1%, compared to the fourth quarter of 2009, primarily due to lower earning assets, partially offset by improved earning asset yields and an increase in loan-related interest fees. Average earning assets decreased by $5 billion, or 23%, from the year-ago quarter.

     Noninterest income increased by $126 million, or 95%, from the fourth quarter of 2009. Investment banking and capital markets income increased $104 million. The fourth quarter of 2009 included a $78 million charge related to changes in the fair values of certain real estate investments compared to a charge of $1 million in the fourth quarter of 2010. Also contributing to the improvement in noninterest income was the $28 million gain from the sale of Tuition Management Systems and an increase of $17 million in net gains from loan sales. These gains were partially offset by decreases in trust and investment services income of $13 million and operating lease revenue of $6 million.

     The provision for loan losses in the fourth quarter of 2010 was a credit of $263 million compared to a charge of $382 million for the same period one year ago. Key Corporate Bank continued to experience improved asset quality for the fifth quarter in a row.

     Noninterest expense decreased by $51 million, or 17%, from the fourth quarter of 2009 as a result of a credit of $18 million to the provision for losses on lending- related commitments compared to a charge of $14 million in the year-ago quarter. OREO expense and operating

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
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lease expense also declined from the fourth quarter of 2009. These improvements were partially offset by an increase in various other miscellaneous expenses.

Other Segments

     Other Segments consist of Corporate Treasury, Key’s Principal Investing unit and various exit portfolios that previously were included within the Key Corporate Bank segment. These exit portfolios were moved to Other Segments during the first quarter of 2010. Prior periods have been adjusted to conform to the current reporting of the financial information for each segment. Other Segments generated a net loss attributable to Key of $13 million for the fourth quarter of 2010, compared to a net loss attributable to Key of $57 million for the same period last year. These results reflect net losses from principal investing (including results attributable to noncontrolling interests) of $5 million compared to net gains from principal investing (including results attributable to noncontrolling interests) of $80 million in the fourth quarter of 2009. This decline was partially offset by a decrease in the provision for loan losses of $43 million.

Line of Business Descriptions

Key Community Bank

Regional Banking provides individuals with branch-based deposit and investment products, personal finance services and loans, including residential mortgages, home equity and various types of installment loans. This line of business also provides small businesses with deposit, investment and credit products, and business advisory services.

Regional Banking also offers financial, estate and retirement planning, and asset management services to assist high-net-worth clients with their banking, trust, portfolio management, insurance, charitable giving and related needs.

Commercial Banking provides midsize businesses with products and services that include commercial lending, cash management, equipment leasing, investment and employee benefit programs, succession planning, access to capital markets, derivatives and foreign exchange.

Key Corporate Bank

Real Estate Capital and Corporate Banking Services consists of two business units, Real Estate Capital and Corporate Banking Services.

Real Estate Capital is a national business that provides construction and interim lending, permanent debt placements and servicing, equity and investment banking, and other commercial banking products and services to developers, brokers and owner-investors. This unit deals primarily with nonowner-occupied properties (i.e., generally properties in which at least 50% of the debt service is provided by rental income from nonaffiliated third parties). Real Estate Capital emphasizes providing clients with finance solutions through access to the capital markets.

Corporate Banking Services provides cash management, interest rate derivatives, and foreign exchange products and services to clients served by both the Key Community Bank and Key Corporate Bank groups. Through its Public Sector and Financial Institutions businesses, Corporate Banking Services also provides a full array of commercial banking products and services to government and not-for-profit entities and community banks. A variety of cash management services are provided through the Global Treasury Management unit.

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January 25, 2011
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Equipment Finance meets the equipment leasing needs of companies worldwide and provides equipment manufacturers, distributors and resellers with financing options for their clients. Lease financing receivables and related revenues are assigned to other lines of business (primarily Institutional and Capital Markets and Commercial Banking) if those businesses are principally responsible for maintaining the relationship with the client.

Institutional and Capital Markets, through its KeyBanc Capital Markets unit, provides commercial lending, treasury management, investment banking, derivatives, foreign exchange, equity and debt underwriting and trading, and syndicated finance products and services to large corporations and middle-market companies.

Institutional and Capital Markets, through its Victory Capital Management unit, also manages or offers advice regarding investment portfolios for a national client base, including corporations, labor unions, not-for-profit organizations, governments and individuals. These portfolios may be managed in separate accounts, common funds or the Victory family of mutual funds.

     Cleveland-based KeyCorp (NYSE: KEY) is one of the nation’s largest bank-based financial services companies, with assets of approximately $92 billion at December 31, 2010. Key companies provide investment management, retail and commercial banking, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. In 2010, KeyBank scored significantly higher than its four largest competitor banks in a customer satisfaction survey conducted by the American Customer Satisfaction Index, scoring significantly better than bank industry scores across multiple dimensions, most notably Customer Loyalty. In 2009, KeyBank was awarded its seventh consecutive “Outstanding” rating for economic development achievements under the Community Reinvestment Act, the only national bank among the 50 largest in the United States to achieve this distinction from the Office of the Comptroller of the Currency. Key also has been recognized for excellence in numerous areas of the multi-channel customer banking experience, including Corporate Insight’s 2009 and 2010 editions of Bank Monitor for online service. For more information about Key, visit https://www.key.com/.

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 13

Notes to Editors:

A live Internet broadcast of KeyCorp’s conference call to discuss quarterly results and currently anticipated earnings trends and to answer analysts’ questions can be accessed through the Investor Relations section at https://www.key.com/ir at 9:00 a.m. ET, on Tuesday, January 25, 2011. An audio replay of the call will be available through February 1, 2011.

For up-to-date company information, media contacts and facts and figures about Key’s lines of business, visit our Media Newsroom at https://www.key.com/newsroom.

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Key’s financial condition, results of operations, earnings outlook, asset quality trends and profitability. Forward-looking statements are not historical facts but instead represent only management’s current expectations and forecasts regarding future events, many of which, by their nature, are inherently uncertain and outside of Key’s control. Key’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Factors that could cause Key’s actual results to differ materially from those described in the forward-looking statements can be found in Key’s Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Reports on Form 10-Q for the periods ended March 31, 2010, June 30, 2010, and September 30, 2010, which have been filed with the Securities and Exchange Commission and are available on Key’s website (www.key.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Forward-looking statements are not guarantees of future performance and should not be relied upon as representing management’s views as of any subsequent date. Key does not undertake any obligation to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

*****

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 14

Financial Highlights
(dollars in millions, except per share amounts)

	Three months ended
	12-31-10			9-30-10			12-31-09
Summary of operations
Net interest income (TE)	$	635		$	647		$	637
Noninterest income		526			486			469
Total revenue (TE)		1,161			1,133			1,106
Provision for loan losses		(97	)		94			756
Noninterest expense		744			736			871
Income (loss) from continuing operations attributable to Key		333			204			(217	)
Income (loss) from discontinued operations, net of taxes (b)		(13	)		15			(7	)
Net income (loss) attributable to Key		320			219			(224	)
Income (loss) from continuing operations attributable to Key common shareholders	$	292		$	163		$	(258	)
Income (loss) from discontinued operations, net of taxes (b)		(13	)		15			(7	)
Net income (loss) attributable to Key common shareholders		279			178			(265	)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.33		$	.19		$	(.30	)
Income (loss) from discontinued operations, net of taxes (b)		(.02	)		.02			(.01	)
Net income (loss) attributable to Key common shareholders		.32			.20			(.30	)
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution		.33			.19			(.30	)
Income (loss) from discontinued operations, net of taxes — assuming dilution (b)		(.02	)		.02			(.01	)
Net income (loss) attributable to Key common shareholders — assuming dilution		.32			.20			(.30	)
Cash dividends paid		.01			.01			.01
Book value at period end		9.52			9.54			9.04
Tangible book value at period end		8.45			8.46			7.94
Market price at period end		8.85			7.96			5.55
Performance ratios
From continuing operations:
Return on average total assets		1.53	%		.93	%		(.94	)%
Return on average common equity		13.71			7.82			(12.60	)
Net interest margin (TE)		3.31			3.35			3.04
From consolidated operations:
Return on average total assets		1.36	%		.93	%		(.93	)%
Return on average common equity		13.10			8.54			(12.94	)
Net interest margin (TE)		3.22			3.26			3.00
Loan to deposit (d)		90.30			91.80			97.30
Capital ratios at period end
Key shareholders’ equity to assets		12.10	%		11.84	%		11.43	%
Tangible Key shareholders’ equity to tangible assets		11.20			10.93			10.50
Tangible common equity to tangible assets (a)		8.19			8.00			7.56
Tier 1 common equity (a), (c)		9.31			8.61			7.50
Tier 1 risk-based capital (c)		15.10			14.30			12.75
Total risk-based capital (c)		19.05			18.22			16.95
Leverage (c)		12.92			12.53			11.72
Asset quality — from continuing operations
Net loan charge-offs	$	256		$	357		$	708
Net loan charge-offs to average loans		2.00	%		2.69	%		4.64	%
Allowance for loan losses	$	1,604		$	1,957		$	2,534
Allowance for credit losses		1,677			2,056			2,655
Allowance for loan losses to period-end loans		3.20	%		3.81	%		4.31	%
Allowance for credit losses to period-end loans		3.35			4.00			4.52
Allowance for loan losses to nonperforming loans		150.19			142.64			115.87
Allowance for credit losses to nonperforming loans		157.02			149.85			121.40
Nonperforming loans at period end	$	1,068		$	1,372		$	2,187
Nonperforming assets at period end		1,338			1,801			2,510
Nonperforming loans to period-end portfolio loans		2.13	%		2.67	%		3.72	%
Nonperforming assets to period-end portfolio loans plus
OREO and other nonperforming assets		2.66			3.48			4.25
Trust and brokerage assets
Assets under management	$	59,815		$	59,718		$	66,939
Nonmanaged and brokerage assets		28,069			26,913			27,190
Other data
Average full-time equivalent employees		15,424			15,584			15,973
Branches		1,033			1,029			1,007
Taxable-equivalent adjustment	$	6		$	7		$	7

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 15

Financial Highlights (continued)
(dollars in millions, except per share amounts)

	Twelve months ended
	12-31-10			12-31-09
Summary of operations
Net interest income (TE)	$	2,537		$	2,406
Noninterest income		1,954			2,035
Total revenue (TE)		4,491			4,441
Provision for loan losses		638			3,159
Noninterest expense		3,034			3,554
Income (loss) from continuing operations attributable to Key		577			(1,287	)
Income (loss) from discontinued operations, net of taxes (b)		(23	)		(48	)
Net income (loss) attributable to Key		554			(1,335	)
Income (loss) from continuing operations attributable to Key common shareholders	$	413		$	(1,581	)
Income (loss) from discontinued operations, net of taxes (b)		(23	)		(48	)
Net income (loss) attributable to Key common shareholders		390			(1,629	)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.47		$	(2.27	)
Income (loss) from discontinued operations, net of taxes (b)		(.03	)		(.07	)
Net income (loss) attributable to Key common shareholders		.45			(2.34	)
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution		.47			(2.27	)
Income (loss) from discontinued operations, net of taxes — assuming dilution (b)		(.03	)		(.07	)
Net income (loss) attributable to Key common shareholders — assuming dilution		.44			(2.34	)
Cash dividends paid		.04			.0925
Performance ratios
From continuing operations:
Return on average total assets		.66	%		(1.35)	%
Return on average common equity		5.06			(19.00	)
Net interest margin (TE)		3.26			2.83
From consolidated operations:
Return on average total assets		.59	%		(1.34)	%
Return on average common equity		4.78			(19.62	)
Net interest margin (TE)		3.16			2.81
Asset quality — from continuing operations
Net loan charge-offs	$	1,570		$	2,257
Net loan charge-offs to average loans		2.91	%		3.40	%
Other data
Average full-time equivalent employees		15,610			16,698
Taxable-equivalent adjustment	$	26		$	26

(a)	The following table entitled “GAAP to Non-GAAP Reconciliations” presents the computations of certain financial measures related to “tangible common equity” and “Tier 1 common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.
(b)	In September 2009, management made the decision to discontinue the education lending business conducted through Key Education Resources, the education payment and financing unit of KeyBank National Association. In April 2009, management made the decision to curtail the operations of Austin Capital Management, Ltd., an investment subsidiary that specializes in managing hedge fund investments for its institutional customer base. As a result of these decisions, Key has accounted for these businesses as discontinued operations.
(c)	12-31-10 ratio is estimated.
(d)	Ending balances; loans & loans held for sale (excluding securitized loans) to deposits (excluding foreign branch).

TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 16

GAAP to Non-GAAP Reconciliations
(dollars in millions, except per share amounts)

The table below presents the computations of certain financial measures related to “tangible common equity” and “Tier 1 common equity.” The tangible common equity ratio has become a focus of some investors, and management believes that this ratio may assist investors in analyzing Key’s capital position absent the effects of intangible assets and preferred stock. Traditionally, the banking regulators have assessed bank and bank holding company capital adequacy based on both the amount and composition of capital, the calculation of which is prescribed in federal banking regulations. As a result of the Supervisory Capital Assessment Program, the Federal Reserve has focused its assessment of capital adequacy on a component of Tier 1 capital, known as Tier 1 common equity. Because the Federal Reserve has long indicated that voting common shareholders’ equity (essentially Tier 1 capital less preferred stock, qualifying capital securities and noncontrolling interests in subsidiaries) generally should be the dominant element in Tier 1 capital, such a focus is consistent with existing capital adequacy guidelines and does not imply a new or ongoing capital standard.

Because the Tier 1 common equity is neither formally defined by GAAP nor prescribed in amount by federal banking regulations, this measure is considered to be a non-GAAP financial measure. Since analysts and banking regulators may assess Key’s capital adequacy using tangible common equity and Tier 1 common equity, management believes it is useful to provide investors the ability to assess Key’s capital adequacy on these same bases. The table also reconciles the GAAP performance measures to the corresponding non-GAAP measures.

The table also shows the computation for pre-provision net revenue, which is not formally defined by GAAP. Management believes that eliminating the effects of provision for loan losses facilitates the analysis of results by presenting them on a more comparable basis.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. To mitigate these limitations, Key has procedures in place to ensure that these measures are calculated using the appropriate GAAP or regulatory components and to ensure that Key’s performance is properly reflected to facilitate period-to-period comparisons. Although these non-GAAP financial measures are frequently used by investors in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP.

	Three months ended
	12-31-10			9-30-10			12-31-09
Tangible common equity to tangible assets at period end
Key shareholders’ equity (GAAP)	$	11,117		$	11,134		$	10,663
Less: Intangible assets		938			956			967
Preferred Stock, Series B		2,446			2,442			2,430
Preferred Stock, Series A		291			291			291
Tangible common equity (non-GAAP)	$	7,442		$	7,445		$	6,975
Total assets (GAAP)	$	91,843		$	94,043		$	93,287
Less: Intangible assets		938			956			967
Tangible assets (non-GAAP)	$	90,905		$	93,087		$	92,320
Tangible common equity to tangible assets ratio (non-GAAP)		8.19	%		8.00	%		7.56	%
Tier 1 common equity at period end
Key shareholders’ equity (GAAP)	$	11,117		$	11,134		$	10,663
Qualifying capital securities		1,791			1,791			1,791
Less: Goodwill		917			917			917
Accumulated other comprehensive income (loss) (a)		(67	)		247			(48	)
Other assets (b)		247			383			632
Total Tier 1 capital (regulatory)		11,811			11,378			10,953
Less: Qualifying capital securities		1,791			1,791			1,791
Preferred Stock, Series B		2,446			2,442			2,430
Preferred Stock, Series A		291			291			291
Total Tier 1 common equity (non-GAAP)	$	7,283		$	6,854		$	6,441
Net risk-weighted assets (regulatory) (b), (c)	$	78,224		$	79,572		$	85,881
Tier 1 common equity ratio (non-GAAP) (c)		9.31	%		8.61	%		7.50	%
Pre-provision net revenue
Net interest income (GAAP)	$	629		$	640		$	630
Plus: Taxable-equivalent adjustment		6			7			7
Noninterest income		526			486			469
Less: Noninterest expense		744			736			871
Pre-provision net revenue from continuing operations (non-GAAP)	$	417		$	397		$	235

(a)	Includes net unrealized gains or losses on securities available for sale (except for net unrealized losses on marketable equity securities), net gains or losses on cash flow hedges, and amounts resulting from the December 31, 2006, adoption and subsequent application of the applicable accounting guidance for defined benefit and other postretirement plans.
(b)	Other assets deducted from Tier 1 capital and net risk-weighted assets consist of disallowed deferred tax assets of $158 million at December 31, 2010, $277 million at September 30, 2010 and $514 million at December 31, 2009, disallowed intangible assets (excluding goodwill) and deductible portions of nonfinancial equity investments.
(c)	12-31-10 amount is estimated.

GAAP = U.S. generally accepted accounting principles

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 17

Consolidated Balance Sheets
(dollars in millions)

	12-31-10			9-30-10			12-31-09
Assets
Loans	$	50,107		$	51,354		$	58,770
Loans held for sale		467			637			443
Securities available for sale		21,933			21,241			16,641
Held-to-maturity securities		17			18			24
Trading account assets		985			1,155			1,209
Short-term investments		1,344			1,871			1,743
Other investments		1,358			1,405			1,488
Total earning assets		76,211			77,681			80,318
Allowance for loan losses		(1,604	)		(1,957	)		(2,534	)
Cash and due from banks		278			823			471
Premises and equipment		908			888			880
Operating lease assets		509			563			716
Goodwill		917			917			917
Other intangible assets		21			39			50
Corporate-owned life insurance		3,167			3,145			3,071
Derivative assets		1,006			1,258			1,094
Accrued income and other assets		3,876			3,936			4,096
Discontinued assets		6,554			6,750			4,208
Total assets	$	91,843		$	94,043		$	93,287
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	27,066		$	26,350		$	24,341
Savings deposits		1,879			1,856			1,807
Certificates of deposit ($100,000 or more)		5,862			6,850			10,954
Other time deposits		8,245			9,014			13,286
Total interest-bearing deposits		43,052			44,070			50,388
Noninterest-bearing deposits		16,653			16,275			14,415
Deposits in foreign office — interest-bearing		905			1,073			768
Total deposits		60,610			61,418			65,571
Federal funds purchased and securities sold under repurchase agreements		2,045			2,793			1,742
Bank notes and other short-term borrowings		1,151			685			340
Derivative liabilities		1,142			1,330			1,012
Accrued expense and other liabilities		1,931			1,862			2,007
Long-term debt		10,592			11,443			11,558
Discontinued liabilities		2,998			3,124			124
Total liabilities		80,469			82,655			82,354
Equity
Preferred stock, Series A		291			291			291
Preferred stock, Series B		2,446			2,442			2,430
Common shares		946			946			946
Common stock warrant		87			87			87
Capital surplus		3,711			3,710			3,734
Retained earnings		5,557			5,287			5,158
Treasury stock, at cost		(1,904	)		(1,914	)		(1,980	)
Accumulated other comprehensive income (loss)		(17	)		285			(3	)
Key shareholders’ equity		11,117			11,134			10,663
Noncontrolling interests		257			254			270
Total equity		11,374			11,388			10,933
Total liabilities and equity	$	91,843		$	94,043		$	93,287
Common shares outstanding (000)		880,608			880,328			878,535

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 18

Consolidated Statements of Income
(dollars in millions, except per share amounts)

	Three months ended									Twelve months ended
	12-31-10			9-30-10			12-31-09			12-31-10			12-31-09
Interest income
Loans	$	617		$	649		$	749		$	2,653			$	3,194
Loans held for sale		4			4			6			17				29
Securities available for sale		170			170			150			644				460
Held-to-maturity securities		—			1			—			2				2
Trading account assets		8			8			12			37				47
Short-term investments		1			1			3			6				12
Other investments		11			11			13			49				51
Total interest income		811			844			933			3,408				3,795
Interest expense
Deposits		124			147			246			671				1,119
Federal funds purchased and securities sold under repurchase agreements		2			1			1			6				5
Bank notes and other short-term borrowings		3			4			3			14				16
Long-term debt		53			52			53			206				275
Total interest expense		182			204			303			897				1,415
Net interest income		629			640			630			2,511				2,380
Provision for loan losses		(97	)		94			756			638				3,159
Net interest income (expense) after provision for loan losses		726			546			(126	)		1,873				(779	)
Noninterest income
Trust and investment services income		108			110			117			444				459
Service charges on deposit accounts		70			75			82			301				330
Operating lease income		42			41			52			173				227
Letter of credit and loan fees		51			61			52			194				180
Corporate-owned life insurance income		42			39			36			137				114
Net securities gains (losses) (a)		12			1			1			14				113
Electronic banking fees		31			30			27			117				105
Gains on leased equipment		6			4			15			20				99
Insurance income		12			15			16			64				68
Net gains (losses) from loan sales		29			18			(5	)		76				(1	)
Net gains (losses) from principal investing		(6	)		18			80			66				(4	)
Investment banking and capital markets income (loss)		63			42			(47	)		145				(42	)
Gain from sale/redemption of Visa Inc. shares		—			—			—			—				105
Gain (loss) related to exchange of common shares for capital securities		—			—			—			—				78
Other income		66			32			43			203				204
Total noninterest income		526			486			469			1,954				2,035
Noninterest expense
Personnel		365			359			400			1,471				1,514
Net occupancy		70			70			67			270				259
Operating lease expense		28			40			50			142				195
Computer processing		45			46			49			185				192
Business services and professional fees		56			41			63			176				184
FDIC assessment		27			27			37			124				177
OREO expense, net		10			4			25			68				97
Equipment		26			24			25			100				96
Marketing		22			21			22			72				72
Provision (credit) for losses on lending-related commitments		(26	)		(10	)		27			(48	)			67
Intangible assets impairment		—			—			—			—				241
Other expense		121			114			106			474				460
Total noninterest expense		744			736			871			3,034				3,554
Income (loss) from continuing operations before income taxes		508			296			(528	)		793				(2,298	)
Income taxes		172			85			(347	)		186				(1,035	)
Income (loss) from continuing operations		336			211			(181	)		607				(1,263	)
Income (loss) from discontinued operations, net of taxes		(13	)		15			(7	)		(23	)			(48	)
Net income (loss)		323			226			(188	)		584				(1,311	)
Less: Net income (loss) attributable to noncontrolling interests		3			7			36			30				24
Net income (loss) attributable to Key	$	320		$	219		$	(224	)	$	554			$	(1,335	)
Income (loss) from continuing operations attributable to Key common shareholders	$	292		$	163		$	(258	)	$	413			$	(1,581	)
Net income (loss) attributable to Key common shareholders		279			178			(265	)		390				(1,629	)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.33		$	.19		$	(.30	)	$	.47			$	(2.27	)
Income (loss) from discontinued operations, net of taxes		(.02	)		.02			(.01	)		(.03	)			(.07	)
Net income (loss) attributable to Key common shareholders		.32			.20			(.30	)		.45				(2.34	)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.33		$	.19		$	(.30	)	$	.47			$	(2.27	)
Income (loss) from discontinued operations, net of taxes		(.02	)		.02			(.01	)		(.03	)			(.07	)
Net income (loss) attributable to Key common shareholders		.32			.20			(.30	)		.44				(2.34	)
Cash dividends declared per common share	$	.01		$	.01		$	.01		$	.04			$	.0925
Weighted-average common shares outstanding (000)		875,501			874,433			873,268			874,748				697,155
Weighted-average common shares and potential common shares outstanding (000) (b)		900,263			874,433			873,268			878,153				697,155

(a)	For the three months ended December 31, 2010, September 30, 2010 and December 31, 2009, Key did not have any impairment losses related to securities.
(b)	Assumes conversion of stock options and/or Preferred Series A shares, as applicable.

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 19

Consolidated Average Balance Sheets, and Net Interest Income and Yields/Rates From Continuing Operations
(dollars in millions)

	Fourth Quarter 2010								Third Quarter 2010								Fourth Quarter 2009
	Average								Average								Average
	Balance			Interest(a)		Yield/Rate(a)			Balance			Interest(a)		Yield/Rate(a)			Balance			Interest(a)		Yield/Rate(a)
Assets
Loans: (b), (c)
Commercial, financial and agricultural	$	16,562		$	189		4.51	%	$	16,948		$	193		4.52	%	$	19,817		$	232		4.63	%
Real estate — commercial mortgage		9,514			117		4.89			9,822			122		4.94			10,853			132		4.84
Real estate — construction		2,531			26		4.15			3,165			37		4.58			5,246			62		4.70
Commercial lease financing		6,484			82		5.08			6,587			87		5.25			7,598			97		5.10
Total commercial loans		35,091			414		4.69			36,522			439		4.77			43,514			523		4.77
Real estate — residential mortgage		1,837			25		5.43			1,843			26		5.59			1,781			26		5.80
Home equity:
Key Community Bank		9,583			101		4.16			9,709			102		4.19			10,101			109		4.28
Other		686			13		7.58			732			14		7.61			862			16		7.54
Total home equity loans		10,269			114		4.39			10,441			116		4.43			10,963			125		4.53
Consumer other — Key Community Bank		1,170			30		10.38			1,156			33		11.20			1,185			32		11.06
Consumer other:
Marine		2,295			36		6.30			2,423			38		6.25			2,866			44		6.16
Other		167			3		7.98			181			4		7.95			224			5		7.81
Total consumer other		2,462			39		6.41			2,604			42		6.37			3,090			49		6.28
Total consumer loans		15,738			208		5.27			16,044			217		5.37			17,019			232		5.44
Total loans		50,829			622		4.87			52,566			656		4.95			60,533			755		4.96
Loans held for sale		403			4		3.16			501			4		3.48			618			6		3.35
Securities available for sale (b), (e)		21,257			171		3.27			20,276			170		3.43			15,937			151		3.82
Held-to-maturity securities (b)		17			—		11.92			19			1		11.05			24			—		3.34
Trading account assets		967			8		3.22			1,074			8		3.03			1,315			12		3.72
Short-term investments		2,521			1		.22			1,594			1		.23			3,682			3		.23
Other investments (e)		1,400			11		2.86			1,426			11		3.00			1,465			13		3.21
Total earning assets		77,394			817		4.22			77,456			851		4.39			83,574			940		4.47
Allowance for loan losses		(1,789	)							(2,092	)							(2,525	)
Accrued income and other assets		11,025								11,363								10,785
Discontinued assets — education lending business		6,674								6,762								4,141
Total assets	$	93,304							$	93,489							$	95,975
Liabilities
NOW and money market deposit accounts	$	27,047			21		.30		$	25,783			23		.35		$	24,910			25		.39
Savings deposits		1,873			—		.06			1,885			—		.06			1,801			1		.06
Certificates of deposit ($100,000 or more) (f)		6,341			49		3.05			7,635			61		3.12			11,675			103		3.49
Other time deposits		8,664			53		2.43			9,648			63		2.59			13,753			117		3.39
Deposits in foreign office		1,228			1		.32			958			—		.37			711			—		.31
Total interest-bearing deposits		45,153			124		1.09			45,909			147		1.27			52,850			246		1.84
Federal funds purchased and securities sold under repurchase agreements		2,236			2		.31			2,300			1		.31			1,657			1		.31
Bank notes and other short-term borrowings		480			3		2.77			669			4		2.36			418			3		3.03
Long-term debt (f)		7,525			53		3.02			7,308			52		3.08			8,092			53		2.91
Total interest-bearing liabilities		55,394			182		1.31			56,186			204		1.46			63,017			303		1.94
Noninterest-bearing deposits		16,841								15,949								14,655
Accrued expense and other liabilities		2,965								3,344								3,097
Discontinued liabilities — education lending business (d)		6,674								6,762								4,141
Total liabilities		81,874								82,241								84,910
Equity
Key shareholders’ equity		11,183								10,999								10,843
Noncontrolling interests		247								249								222
Total equity		11,430								11,248								11,065
Total liabilities and equity	$	93,304							$	93,489							$	95,975
Interest rate spread (TE)							2.91	%							2.93	%							2.53	%
Net interest income (TE) and net interest margin (TE)					635		3.31	%					647		3.35	%					637		3.04	%
TE adjustment (b)					6								7								7
Net interest income, GAAP basis				$	629							$	640							$	630

(a)	Results are from continuing operations. Interest excludes the interest associated with the liabilities referred to in (d) below, calculated using a matched funds transfer pricing methodology.
(b)	Interest income on tax-exempt securities and loans has been adjusted to a taxable-equivalent basis using the statutory federal income tax rate of 35%.
(c)	For purposes of these computations, nonaccrual loans are included in average loan balances.
(d)	Discontinued liabilities include the liabilities of the education lending business and the dollar amount of any additional liabilities assumed necessary to support the assets associated with this business.
(e)	Yield is calculated on the basis of amortized cost.
(f)	Rate calculation excludes basis adjustments related to fair value hedges.

TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 20

Consolidated Average Balance Sheets, and Net Interest Income and Yields/Rates From Continuing Operations
(dollars in millions)

	Twelve months ended December 31, 2010								Twelve months ended December 31, 2009
	Average								Average
	Balance			Interest(a)		Yield/Rate(a)			Balance			Interest(a)		Yield/ Rate(a)
Assets
Loans: (b), (c)
Commercial, financial and agricultural	$	17,500		$	813		4.64	%	$	23,181		$	1,038		4.48	%
Real estate — commercial mortgage		10,027			491		4.90			11,310	(d)		557		4.93
Real estate — construction		3,495			149		4.26			6,206	(d)		294		4.74
Commercial lease financing		6,754			352		5.21			8,220			369		4.48
Total commercial loans		37,776			1,805		4.78			48,917			2,258		4.61
Real estate — residential mortgage		1,828			102		5.57			1,764			104		5.91
Home equity:
Key Community Bank		9,773			411		4.20			10,214			445		4.36
Other		751			57		7.59			945			71		7.50
Total home equity loans		10,524			468		4.45			11,159			516		4.63
Consumer other — Key Community Bank		1,158			132		11.44			1,202			127		10.62
Consumer other:
Marine		2,497			155		6.23			3,097			193		6.22
Other		188			15		7.87			247			20		7.93
Total consumer other		2,685			170		6.34			3,344			213		6.35
Total consumer loans		16,195			872		5.39			17,469			960		5.50
Total loans		53,971			2,677		4.96			66,386			3,218		4.85
Loans held for sale		453			17		3.62			650			29		4.37
Securities available for sale (b), (f)		18,800			646		3.50			11,169			462		4.19
Held-to-maturity securities (b)		20			2		10.56			25			2		8.17
Trading account assets		1,068			37		3.47			1,238			47		3.83
Short-term investments		2,684			6		.24			4,149			12		.28
Other investments (f)		1,442			49		3.08			1,478			51		3.11
Total earning assets		78,438			3,434		4.39			85,095			3,821		4.49
Allowance for loan losses		(2,207	)							(2,273	)
Accrued income and other assets		11,243								12,349
Discontinued assets — education lending business		6,677								4,269
	$	94,151							$	99,440
Liabilities
NOW and money market deposit accounts	$	25,712			91		.35		$	24,345			124		.51
Savings deposits		1,867			1		.06			1,787			2		.07
Certificates of deposit ($100,000 or more) (g)		8,486			275		3.24			12,612			462		3.66
Other time deposits		10,545			301		2.86			14,535			529		3.64
Deposits in foreign office		926			3		.34			802			2		.27
Total interest-bearing deposits		47,536			671		1.41			54,081			1,119		2.07
Federal funds purchased and securities sold under repurchase agreements		2,044			6		.31			1,618			5		.31
Bank notes and other short-term borrowings		545			14		2.63			1,907			16		.84
Long-term debt (g)		7,211			206		3.09			9,455			275		3.16
Total interest-bearing liabilities		57,336			897		1.58			67,061			1,415		2.13
Noninterest-bearing deposits		15,856								12,964
Accrued expense and other liabilities		3,131								4,340
Discontinued liabilities — education lending business (e)		6,677								4,269
		83,000								88,634
Equity
Key shareholders’ equity		10,895								10,592
Noncontrolling interests		256								214
Total equity		11,151								10,806
Total liabilities and equity	$	94,151							$	99,440
Interest rate spread (TE)							2.81	%							2.36	%
Net interest income (TE) and net interest margin (TE)					2,537		3.26	%					2,406		2.83	%
TE adjustment (b)					26								26
Net interest income, GAAP basis				$	2,511							$	2,380

(a)	Results are from continuing operations. Interest excludes the interest associated with the liabilities referred to in (e) below, calculated using a matched funds transfer pricing methodology.
(b)	Interest income on tax-exempt securities and loans has been adjusted to a taxable-equivalent basis using the statutory federal income tax rate of 35%.
(c)	For purposes of these computations, nonaccrual loans are included in average loan balances.
(d)	In late March 2009, Key transferred $1.5 billion of loans from the construction portfolio to the commercial mortgage portfolio in accordance with regulatory guidelines pertaining to the classification of loans that have reached a completed status.
(e)	Discontinued liabilities include the liabilities of the education lending business and the dollar amount of any additional liabilities assumed necessary to support the assets associated with this business.
(f)	Yield is calculated on the basis of amortized cost.
(g)	Rate calculation excludes basis adjustments related to fair value hedges.
TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 21

Noninterest Income
(in millions)

	Three months ended								Twelve months ended
	12-31-10			9-30-10		12-31-09			12-31-10		12-31-09
Trust and investment services income (a)	$	108		$	110	$	117		$	444	$	459
Service charges on deposit accounts		70			75		82			301		330
Operating lease income		42			41		52			173		227
Letter of credit and loan fees		51			61		52			194		180
Corporate-owned life insurance income		42			39		36			137		114
Net securities gains (losses)		12			1		1			14		113
Electronic banking fees		31			30		27			117		105
Gains on leased equipment		6			4		15			20		99
Insurance income		12			15		16			64		68
Net gains (losses) from loan sales		29			18		(5	)		76		(1	)
Net gains (losses) from principal investing		(6	)		18		80			66		(4	)
Investment banking and capital markets income (loss) (a)		63			42		(47	)		145		(42	)
Gain from sale/redemption of Visa Inc. shares		—			—		—			—		105
Gain (loss) related to exchange of common shares for capital securities		—			—		—			—		78
Other income:
Gain from sale of Key’s claim associated with the Lehman Brothers’ Bankruptcy		—			—		—			—		32
Credit card fees		2			3		2			11		14
Miscellaneous income		64			29		41			192		158
Total other income		66			32		43			203		204
Total noninterest income	$	526		$	486	$	469		$	1,954	$	2,035

(a) Additional detail provided in tables below.

Trust and Investment Services Income
(in millions)

	Three months ended						Twelve months ended
	12-31-10		9-30-10		12-31-09		12-31-10		12-31-09
Brokerage commissions and fee income	$	32	$	33	$	31	$	134	$	151
Personal asset management and custody fees		38		37		37		149		141
Institutional asset management and custody fees		38		40		49		161		167
Total trust and investment services income	$	108	$	110	$	117	$	444	$	459

Investment Banking and Capital Markets Income (Loss)
(in millions)

	Three months ended								Twelve months ended
	12-31-10		9-30-10			12-31-09			12-31-10			12-31-09
Investment banking income	$	33	$	38		$	29		$	112		$	83
Income (loss) from other investments		—		2			(66	)		6			(103	)
Dealer trading and derivatives income (loss)		18		(10	)		(21	)		(16	)		(70	)
Foreign exchange income		12		12			11			43			48
Total investment banking and capital markets income (loss)	$	63	$	42		$	(47	)	$	145		$	(42	)

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 22

Noninterest Expense

(dollars in millions)

	Three months ended								Twelve months ended
	12-31-10			9-30-10			12-31-09		12-31-10			12-31-09
Personnel (a)	$	365		$	359		$	400	$	1,471		$	1,514
Net occupancy		70			70			67		270			259
Operating lease expense		28			40			50		142			195
Computer processing		45			46			49		185			192
Business services and professional fees		56			41			63		176			184
FDIC assessment		27			27			37		124			177
OREO expense, net		10			4			25		68			97
Equipment		26			24			25		100			96
Marketing		22			21			22		72			72
Provision (credit) for losses on lending-related commitments		(26	)		(10	)		27		(48	)		67
Intangible assets impairment		—			—			—		—			241
Other expense:
Postage and delivery		6			9			8		30			33
Franchise and business taxes		9			5			5		27			31
Telecommunications		6			5			6		22			26
Provision for losses on LIHTC guaranteed funds		8			—			—		8			17
Miscellaneous expense		92			95			87		387			353
Total other expense		121			114			106		474			460
Total noninterest expense	$	744		$	736		$	871	$	3,034		$	3,554
Average full-time equivalent employees (b)		15,424			15,584			15,973		15,610			16,698

(a)	Additional detail provided in table below.
(b)	The number of average full-time equivalent employees has not been adjusted for discontinued operations.

Personnel Expense

(in millions)

	Three months ended						Twelve months ended
	12-31-10		9-30-10		12-31-09		12-31-10		12-31-09
Salaries	$	232	$	230	$	229	$	913	$	905
Incentive compensation		85		69		76		266		222
Employee benefits		34		45		75		224		303
Stock-based compensation		11		12		15		52		51
Severance		3		3		5		16		33
Total personnel expense	$	365	$	359	$	400	$	1,471	$	1,514

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 23

Loan Composition

(dollars in millions)

							Percent change 12-31-10 vs.
	12-31-10		9-30-10		12-31-09		9-30-10			12-31-09
Commercial, financial and agricultural	$	16,441	$	16,451	$	19,248		(.1)	%		(14.6)	%
Commercial real estate:
Commercial mortgage		9,502		9,673		10,457		(1.8	)		(9.1	)
Construction		2,106		2,731		4,739		(22.9	)		(55.6	)
Total commercial real estate loans		11,608		12,404		15,196		(6.4	)		(23.6	)
Commercial lease financing		6,471		6,583		7,460		(1.7	)		(13.3	)
Total commercial loans		34,520		35,438		41,904		(2.6	)		(17.6	)
Real estate — residential mortgage		1,844		1,853		1,796		(.5	)		2.7
Home equity:
Key Community Bank		9,514		9,655		10,048		(1.5	)		(5.3	)
Other		666		707		838		(5.8	)		(20.5	)
Total home equity loans		10,180		10,362		10,886		(1.8	)		(6.5	)
Consumer other — Key Community Bank		1,167		1,174		1,181		(.6	)		(1.2	)
Consumer other:
Marine		2,234		2,355		2,787		(5.1	)		(19.8	)
Other		162		172		216		(5.8	)		(25.0	)
Total consumer — indirect loans		2,396		2,527		3,003		(5.2	)		(20.2	)
Total consumer loans		15,587		15,916		16,866		(2.1	)		(7.6	)
Total loans (a)	$	50,107	$	51,354	$	58,770		(2.4)	%		(14.7)	%

Loans Held for Sale Composition

(dollars in millions)

							Percent change 12-31-10 vs.
	12-31-10		9-30-10		12-31-09		9-30-10			12-31-09
Commercial, financial and agricultural	$	196	$	128	$	14		53.1	%		N/M
Real estate — commercial mortgage		118		327		171		(63.9	)		(31.0)	%
Real estate — construction		35		77		92		(54.5	)		(62.0	)
Commercial lease financing		8		13		27		(38.5	)		(70.4	)
Real estate — residential mortgage		110		92		139		19.6			(20.9	)
Total loans held for sale (b), (c)	$	467	$	637	$	443		(26.7)	%		5.4	%

(a)	Excluded at December 31, 2010, September 30, 2010, and December 31, 2009, are loans in the amount of $6.5 billion, $6.6 billion, and $3.5 billion, respectively, related to the discontinued operations of the education lending business.
(b)	Excluded at December 31, 2010, September 30, 2010, and December 31, 2009, are loans held for sale in the amount of $15 million, $15 million, and $434 million, respectively, related to the discontinued operations of the education lending business.
(c)	The beginning balance at September 30, 2010 of $637 million increased by new originations in the amount of $1.053 billion and decreased by loan sales of $1.174 billion, and loan payments of $49 million, for an ending balance of $467 million at December 31, 2010.

N/M = Not Meaningful

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 24

Summary of Loan Loss Experience from Continuing Operations

(dollars in millions)

	Three months ended									Twelve months ended
	12-31-10			9-30-10			12-31-09			12-31-10			12-31-09
Average loans outstanding	$	50,829		$	52,566		$	60,533		$	53,971		$	66,386
Allowance for loan losses at beginning of period	$	1,957		$	2,219		$	2,485		$	2,534		$	1,629
Loans charged off:
Commercial, financial and agricultural		104			170			232			565			838
Real estate — commercial mortgage		73			50			166			360			356
Real estate — construction		49			88			187			380			643
Total commercial real estate loans		122			138			353			740			999
Commercial lease financing		20			22			45			88			128
Total commercial loans		246			330			630			1,393			1,965
Real estate — residential mortgage		11			7			9			36			20
Home equity:
Key Community Bank		28			36			28			123			97
Other		13			14			20			62			74
Total home equity loans		41			50			48			185			171
Consumer other — Key Community Bank		16			15			17			64			67
Consumer other:
Marine		25			25			41			129			154
Other		4			3			5			15			19
Total consumer other		29			28			46			144			173
Total consumer loans		97			100			120			429			431
Total loans charged off		343			430			750			1,822			2,396
Recoveries:
Commercial, financial and agricultural		24			34			14			87			52
Real estate — commercial mortgage		21			4			1			30			2
Real estate — construction		21			12			6			44			9
Total commercial real estate loans		42			16			7			74			11
Commercial lease financing		8			6			6			25			22
Total commercial loans		74			56			27			186			85
Real estate — residential mortgage		—			1			1			2			1
Home equity:
Key Community Bank		2			1			1			7			4
Other		—			1			1			3			2
Total home equity loans		2			2			2			10			6
Consumer other — Key Community Bank		2			1			2			7			7
Consumer other:
Marine		8			13			8			43			35
Other		1			—			2			4			5
Total consumer other		9			13			10			47			40
Total consumer loans		13			17			15			66			54
Total recoveries		87			73			42			252			139
Net loan charge-offs		(256	)		(357	)		(708	)		(1,570	)		(2,257	)
Provision for loan losses		(97	)		94			756			638			3,159
Foreign currency translation adjustment		—			1			1			2			3
Allowance for loan losses at end of period	$	1,604		$	1,957		$	2,534		$	1,604		$	2,534
Liability for credit losses on lending-related commitments at beginning of period	$	99		$	109		$	94		$	121		$	54
Provision (credit) for losses on lending-related commitments		(26	)		(10	)		27			(48	)		67
Liability for credit losses on lending-related commitments at end of period (a)	$	73		$	99		$	121		$	73		$	121
Total allowance for credit losses at end of period	$	1,677		$	2,056		$	2,655		$	1,677		$	2,655
Net loan charge-offs to average loans		2.00	%		2.69	%		4.64	%		2.91	%		3.40	%
Allowance for loan losses to period-end loans		3.20			3.81			4.31			3.20			4.31
Allowance for credit losses to period-end loans		3.35			4.00			4.52			3.35			4.52
Allowance for loan losses to nonperforming loans		150.19			142.64			115.87			150.19			115.87
Allowance for credit losses to nonperforming loans		157.02			149.85			121.40			157.02			121.40
Discontinued operations — education lending business:
Loans charged off	$	34		$	26		$	37		$	129		$	147
Recoveries		2			4			1			8			4
Net loan charge-offs	$	(32	)	$	(22	)	$	(36	)	$	(121	)	$	(143	)

(a) Included in “accrued expense and other liabilities” on the balance sheet.

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 25

Summary of Nonperforming Assets and Past Due Loans From Continuing Operations

(dollars in millions)

	12-31-10			9-30-10			6-30-10			3-31-10			12-31-09
Commercial, financial and agricultural	$	242		$	335		$	489		$	558		$	586
Real estate — commercial mortgage		255			362			404			579			614
Real estate — construction		241			333			473			607			641
Total commercial real estate loans		496			695			877			1,186			1,255
Commercial lease financing		64			84			83			99			113
Total commercial loans		802			1,114			1,449			1,843			1,954
Real estate — residential mortgage		98			90			77			72			73
Home equity:
Key Community Bank		102			106			112			111			107
Other		18			16			17			18			21
Total home equity loans		120			122			129			129			128
Consumer other — Key Community Bank		4			3			5			4			4
Consumer other:
Marine		42			41			41			16			26
Other		2			2			2			1			2
Total consumer other		44			43			43			17			28
Total consumer loans		266			258			254			222			233
Total nonperforming loans		1,068			1,372			1,703			2,065			2,187
Nonperforming loans held for sale		106			230			221			195			116
OREO		166			221			200			175			191
Allowance for OREO losses		(37	)		(58	)		(64	)		(45	)		(23	)
OREO, net of allowance		129			163			136			130			168
Other nonperforming assets		35			36			26			38			39
Total nonperforming assets	$	1,338		$	1,801		$	2,086		$	2,428		$	2,510
Accruing loans past due 90 days or more	$	239		$	152		$	240		$	434		$	331
Accruing loans past due 30 through 89 days		476			662			610			639			933
Restructured loans — accruing and nonaccruing (a)		297			360			343			323			364
Restructured loans included in nonperforming loans (a)		202			228			213			226			364
Nonperforming assets from discontinued operations — education lending business		40			38			40			43			14
Nonperforming loans to period-end portfolio loans		2.13	%		2.67	%		3.19	%		3.69	%		3.72	%
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets		2.66			3.48			3.88			4.31			4.25

(a) Restructured loans (i.e. troubled debt restructurings) are those for which Key, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. These concessions are made to improve the collectability of the loan and generally take the form of a reduction of the interest rate, extension of the maturity date or reduction in the principal balance.

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 26

Summary of Changes in Nonperforming Loans From Continuing Operations
(in millions)

	4Q10			3Q10			2Q10			1Q10			4Q09
Balance at beginning of period	$	1,372		$	1,703		$	2,065		$	2,187		$	2,290
Loans placed on nonaccrual status		544			691			682			746			1,141
Charge-offs		(343	)		(430	)		(492	)		(557	)		(750	)
Loans sold		(162	)		(92	)		(136	)		(15	)		(70	)
Payments		(250	)		(200	)		(185	)		(102	)		(237	)
Transfers to OREO		(14	)		(39	)		(66	)		(20	)		(98	)
Transfers to nonperforming loans held for sale		(41	)		(163	)		(82	)		(59	)		(23	)
Transfers to other nonperforming assets		(3	)		(7	)		(36	)		(3	)		(4	)
Loans returned to accrual status		(35	)		(91	)		(47	)		(112	)		(62	)
Balance at end of period	$	1,068		$	1,372		$	1,703		$	2,065		$	2,187

Summary of Changes in Nonperforming Loans Held For Sale From Continuing Operations
(in millions)

	4Q10			3Q10			2Q10			1Q10			4Q09
Balance at beginning of period	$	230		$	221		$	195		$	116		$	304
Transfers in		41			162			86			129			71
Net advances / (payments)		(26	)		(35	)		1			—			3
Loans sold		(139	)		(50	)		(53	)		(38	)		(228	)
Transfers to OREO		—			(58	)		(6	)		(6	)		—
Valuation adjustments		—			(6	)		(2	)		(6	)		(18	)
Loans returned to accrual status / other	—				(4	)		—			—			(16	)
Balance at end of period	$	106		$	230		$	221		$	195		$	116

Summary of Changes in Other Real Estate Owned, Net of Allowance, From Continuing Operations
(in millions)

	4Q10			3Q10			2Q10			1Q10			4Q09
Balance at beginning of period	$	163		$	136		$	130		$	168		$	147
Properties acquired — nonperforming loans		14			97			72			26			98
Valuation adjustments		(9	)		(7	)		(24	)		(28	)		(12	)
Properties sold		(39	)		(63	)		(42	)		(36	)		(65	)
Balance at end of period	$	129		$	163		$	136		$	130		$	168

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 27

Line of Business Results
(dollars in millions)

Key Community Bank

																Percent change 4Q10 vs.
	4Q10			3Q10			2Q10			1Q10			4Q09			3Q10			4Q09
Summary of operations
Total revenue (TE)	$	601		$	601		$	608		$	599		$	627			—			(4.1	)%
Provision for loan losses		74			75			121			142			230			(1.3	)%		(67.8	)
Noninterest expense		456			458			451			465			489			(.4	)		(6.7	)
Net income (loss) attributable to Key		61			57			35			7			(40	)		7.0			N/M
Average loans and leases		26,437			26,779			27,218			27,769			28,321			(1.3	)		(6.7	)
Average deposits		48,143			48,703			50,421			51,459			52,640			(1.1	)		(8.5	)
Net loan charge-offs		115			129			148			116			148			(10.9	)		(22.3	)
Net loan charge-offs to average loans		1.73	%		1.91	%		2.18	%		1.69	%		2.07	%		N/A			N/A
Nonperforming assets at period end	$	497		$	567		$	561		$	597		$	544			(12.3	)		(8.6	)
Return on average allocated equity		6.87	%		6.26	%		3.80	%		.76	%		(4.42)	%		N/A			N/A
Average full-time equivalent employees		8,291			8,306			8,246			8,187			8,227			(.2	)		.8
Supplementary information (lines of business)
Regional Banking
Total revenue (TE)	$	474		$	483		$	495		$	490		$	510			(1.9)	%		(7.1	)%
Provision for loan losses		77			105			57			115			139			(26.7	)		(44.6	)
Noninterest expense		411			415			408			420			429			(1.0	)		(4.2	)
Net income (loss) attributable to Key		8			(9	)		31			(16	)		(19	)		N/M			N/M
Average loans and leases		17,811			18,079			18,405			18,753			19,076			(1.5	)		(6.6	)
Average deposits		42,390			43,348			45,234			46,197			47,569			(2.2	)		(10.9	)
Net loan charge-offs		77			89			82			96			82			(13.5	)		(6.1	)
Net loan charge-offs to average loans		1.72	%		1.95	%		1.79	%		2.08	%		1.71	%		N/A			N/A
Nonperforming assets at period end	$	326		$	350		$	339		$	327		$	319			(6.9	)		2.2
Return on average allocated equity		1.32	%		(1.47)	%		5.09	%		(2.66)	%		(3.24)	%		N/A			N/A
Average full-time equivalent employees		7,930			7,953			7,891			7,836			7,877			(.3	)		.7
Commercial Banking
Total revenue (TE)	$	127		$	118		$	113		$	109		$	117			7.6	%		8.5	%
Provision for loan losses		(3	)		(30	)		64			27			91			N/M			(103.3	)
Noninterest expense		45			43			43			45			60			4.7			(25.0	)
Net income (loss) attributable to Key		53			66			4			23			(21	)		(19.7	)		N/M
Average loans and leases		8,626			8,700			8,813			9,016			9,245			(.9	)		(6.7	)
Average deposits		5,753			5,355			5,187			5,262			5,071			7.4			13.4
Net loan charge-offs		38			40			66			20			66			(5.0	)		(42.4	)
Net loan charge-offs to average loans		1.75	%		1.82	%		3.00	%		.90	%		2.83	%		N/A			N/A
Nonperforming assets at period end	$	171		$	217		$	222		$	270		$	225			(21.2	)		(24.0	)
Return on average allocated equity		18.82	%		22.04	%		1.28	%		7.30	%		(6.57)	%		N/A			N/A
Average full-time equivalent employees		361			353			355			351			350			2.3			3.1

KeyCorp Reports Fourth Quarter and Full Year 2010 Profit
January 25, 2011
Page 28

Line of Business Results (continued)
(dollars in millions)

Key Corporate Bank

																Percent change 4Q10 vs.
	4Q10			3Q10			2Q10			1Q10			4Q09			3Q10			4Q09
Summary of operations
Total revenue (TE)	$	464		$	430		$	409		$	376		$	340			7.9	%		36.5	%
Provision for loan losses		(263	)		(25	)		99			161			382			N/M			(168.8	)
Noninterest expense		249			248			259			268			300			.4			(17.0	)
Net income (loss) attributable to Key		302			130			34			(31	)		(213	)		132.3			N/M
Average loans and leases		18,601			19,534			20,948			22,440			24,011			(4.8	)		(22.5	)
Average loans held for sale		253			380			381			240			431			(33.4	)		(41.3	)
Average deposits		12,961			11,779			12,474			12,416			13,257			10.0			(2.2	)
Net loan charge-offs		61			122			173			251			411			(50.0	)		(85.2	)
Net loan charge-offs to average loans		1.30	%		2.48	%		3.31	%		4.54	%		6.79	%		N/A			N/A
Nonperforming assets at period end	$	575		$	886		$	1,089		$	1,285		$	1,326			(35.1	)		(56.6	)
Return on average allocated equity		41.53	%		16.65	%		4.02	%		(3.64	)%		(22.83	)%		N/A			N/A
Average full-time equivalent employees		2,308			2,353			2,327			2,370			2,400			(1.9	)		(3.8	)
Supplementary information (lines of business)
Real Estate Capital and Corporate Banking Services
Total revenue (TE)	$	179		$	175		$	176		$	144		$	92			2.3	%		94.6	%
Provision for loan losses		(211	)		22			77			145			304			N/M			(169.4	)
Noninterest expense		93			99			108			116			117			(6.1	)		(20.5	)
Net income (loss) attributable to Key		187			34			(5	)		(72	)		(206	)		450.0			N/M
Average loans and leases		9,380			10,300			11,465			12,340			13,256			(8.9	)		(29.2	)
Average loans held for sale		199			202			194			115			228			(1.5	)		(12.7	)
Average deposits		10,604			9,360			9,811			9,835			10,602			13.3			—
Net loan charge-offs		57			103			142			207			381			(44.7	)		(85.0	)
Net loan charge-offs to average loans		2.41	%		3.97	%		4.97	%		6.80	%		11.40	%		N/A			N/A
Nonperforming assets at period end	$	442		$	719		$	867		$	1,067		$	1,094			(38.5	)		(59.6	)
Return on average allocated equity		43.16	%		7.14	%		(.97	)%		(14.06	)%		(36.12	)%		N/A			N/A
Average full-time equivalent employees		1,028			1,039			1,052			1,078			1,093			(1.1	)		(5.9	)
Equipment Finance
Total revenue (TE)	$	66		$	63		$	61		$	61		$	66			4.8	%		—
Provision for loan losses		(16	)		(12	)		10			4			65			N/M			(124.6	)%
Noninterest expense		50			53			48			45			57			(5.7	)		(12.3	)
Net income (loss) attributable to Key		20			14			2			8			(35	)		42.9			N/M
Average loans and leases		4,656			4,515			4,478			4,574			4,610			3.1			1.0
Average loans held for sale		—			2			16			1			—			(100.0	)		N/M
Average deposits		2			5			5			6			7			(60.0	)		(71.4	)
Net loan charge-offs		7			25			18			18			21			(72.0	)		(66.7	)
Net loan charge-offs to average loans		.60	%		2.20	%		1.61	%		1.60	%		1.81	%		N/A			N/A
Nonperforming assets at period end	$	68		$	86		$	106		$	111		$	122			(20.9	)		(44.3	)
Return on average allocated equity		23.55	%		16.73	%		2.25	%		8.67	%		(37.43	)%		N/A			N/A
Average full-time equivalent employees		529			536			549			563			586			(1.3	)		(9.7	)
Institutional and Capital Markets
Total revenue (TE)	$	219		$	192		$	172		$	171		$	182			14.1	%		20.3	%
Provision for loan losses		(36	)		(35	)		12			12			13			N/M			(376.9	)
Noninterest expense		106			96			103			107			126			10.4			(15.9	)
Net income (loss) attributable to Key		95			82			37			33			28			15.9			239.3
Average loans and leases		4,565			4,719			5,005			5,526			6,145			(3.3	)		(25.7	)
Average loans held for sale		54			176			171			124			203			(69.3	)		(73.4	)
Average deposits		2,355			2,414			2,658			2,575			2,648			(2.4	)		(11.1	)
Net loan charge-offs		(3	)		(6	)		13			26			9			N/M			(133.3	)
Net loan charge-offs to average loans		(.26	)%		(.50	)%		1.04	%		1.91	%		.58	%		N/A			N/A
Nonperforming assets at period end	$	65		$	81		$	116		$	107		$	110			(19.8	)		(40.9	)
Return on average allocated equity		45.46	%		37.18	%		15.22	%		13.36	%		10.41	%		N/A			N/A
Average full-time equivalent employees		751			778			726			729			721			(3.5	)		4.2

TE = Taxable Equivalent, N/A = Not Applicable, N/M = Not Meaningful

EX-99.2

Exhibit 99.2

Fourth Quarter 2010 Review January 25, 2011 Speakers: Henry Meyer Jeff Weeden Exhibit 99.2

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Key's financial condition, results of operations, earnings outlook, asset quality trends and profitability. Forward-looking statements are not historical facts but instead represent only management's current expectations and forecasts regarding future events, many of which, by their nature, are inherently uncertain and outside of Key's control. Key's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Factors that could cause Key's actual results to differ materially from those described in the forward-looking statements can be found in Key's Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Reports on Form 10-Q for the periods ended March 31, 2010, June 30, 2010, and September 30, 2010, which have been filed with the Securities and Exchange Commission and are available on Key's website (www.key.com) and on the Securities and Exchange Commission's website (www.sec.gov). Forward-looking statements are not guarantees of future performance and should not be relied upon as representing management's views as of any subsequent date. Key does not undertake any obligation to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements. PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 FORWARD-LOOKING STATEMENT DISCLOSURE

Improved profitability in fourth quarter and full year 2010 Stronger pre-provision net revenue Credit quality continues to improve Capital and reserves remain strong Announced CEO succession plan and management changes in major businesses 4Q10 Strategic Update

Financial Summary - Fourth Quarter 2010 Capital (b) Asset Quality (a) Financial Performance (a) Metrics Income (loss) from continuing operations attributable to Key common shareholders Net interest margin (TE) Return on average total assets Tier 1 common equity (c) Tier 1 risk-based capital (c) Tangible common equity to tangible assets Book value per common share Allowance for loan losses to period-end loans Net loan charge-offs to average loans NPLs to EOP portfolio loans NPAs to EOP portfolio loans + OREO + Other NPAs Allowance for loan losses to NPLs TE = Taxable equivalent, EOP = End of Period (a) From continuing operations. (b) From consolidated operations. (c) 12-31-10 ratios are estimated. 4Q10 $.33 3.31% 1.53 9.31% 15.10 8.19 $9.52 3.20% 2.00 2.13 2.66 150.19 3Q10 $.19 3.35% .93 8.61% 14.30 8.00 $9.54 3.81% 2.69 2.67 3.48 142.64 4Q09 $(.30) 3.04% (.94) 7.50% 12.75 7.56 $9.04 4.31% 4.64 3.72 4.25 115.87

KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Core funded Loan to deposit ratio (b) (c) 90% 90-100% Improve risk profile of loan portfolio Improve deposit mix and grow deposit base Returning to a moderate risk profile NCOs to average loans 2.00% 40-50 bps Focus on relationship clients Exit noncore portfolios Limit concentrations Focus on risk-adjusted returns Growing high quality, diverse revenue streams Net interest margin 3.31% >3.50% Improve funding mix Focus on risk-adjusted returns Growing high quality, diverse revenue streams Noninterest income to total revenue 45% >40% Leverage Key's total client solutions and cross-selling capabilities Creating positive operating leverage Keyvolution cost savings $228 million implemented $300-$375 million Improve efficiency and effectiveness Leverage technology Change cost base to more variable from fixed Executing our strategies Return on average assets 1.53% 1.00-1.25% Execute our client insight-driven relationship model Lower credit costs Improved funding mix with lower cost core deposits Keyvolution savings (a) Continuing operations, unless otherwise noted. (b) Ending balances; loans & loans HFS (excluding securitized loans) to deposits (excluding foreign branch). (c) Consolidated operations. Key's Targets for Success (a)

2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Loans / Deposits 1.01 0.95 0.91 0.88 0.88 0.862 0.8473 Discontinued 0.06 0.06 0.07 0.05 0.05 0.056 0.056 Total Loans 1.07 1.01 0.98 0.93 0.93 0.918 0.903 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Commercial & Industrial 23.7 21.502 19.347 18.421 17.418 16.705 16.354 CRE - Comml Mtg 11.9 10.946 10.358 10.087 10.108 9.634 9.38 CRE - Construction 5.5 5.834 5.246 4.537 3.773 3.165 2.531 Leasing 4.6 4.505 4.484 4.41 4.2 4.226 4.314 Home Equity 10.3 10.192 10.101 9.967 9.838 9.711 9.582 Other Consumer 2.9 2.932 2.965 2.964 2.973 2.997 3.006 Exit Portfolios 9.8 8.92 8.033 7.243 6.7 6.129 5.662 Total Loans 68.7 64.83 60.533 57.628 54.953 52.566 50.829 Average Deposits Home equity Leasing CRE - construction CF&A CRE - Mortgage Average Loans $ in billions Other consumer 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Foreign Deposits DDA 12.4 13.604 14.655 14.941 15.644 15.949 16.841 NOW/Money Market 24.1 24.444 24.91 24.722 25.27 25.783 27.047 Savings 1.8 1.799 1.801 1.828 1.883 1.885 1.873 CD's < $100K 14.9 14.749 13.753 12.611 11.309 9.648 8.664 CD's > $100K 13.5 12.771 11.675 10.538 9.485 7.635 6.341 Total 66.8 67.367 66.794 64.64 63.591 60.9 60.766 CDs > $100K CDs < $100K Savings DDA NOW/MMDA $ in billions Exit portfolios Loan to Deposit Ratio (a) Continuing operations Discontinued operations (a) Ending balances; loans & loans HFS (excluding securitized loans) to deposits (excluding deposits in foreign office). Average Loans and Deposits KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Core funded Loan to deposit ratio (a) 90% 90-100% Improve risk profile of loan portfolio Improve deposit mix and grow deposit base 98% 90% 93% 93% 92%

Nonperforming Loans Net Charge-offs & Provision for Loan Losses $ in millions 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Nonperforming Loans 2185 2290 2187 2065 1703 1372 1068 NPLs to Period-End Loans 0.0325 0.0368 0.0372 0.0369 0.0319 0.0267 0.0213 Nonperforming loans NPLs to period-end loans $ in millions 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Net Loan Charge-offs 502 587 708 522 435 357 256.2 NCO to Avg Loans 0.0293 0.0359 0.0464 0.0367 0.0318 0.0269 0.02 Provision for Loan Losses 823 733 756 413 228 94 -97 Net charge-offs Provision for loan losses NCOs to average loans KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Returning to a moderate risk profile NCOs to average loans 2.00% .40-.50% Focus on relationship clients Exit noncore portfolios Limit concentrations Focus on risk-adjusted returns Allowance for Loan Losses Allowance to Nonperforming Loans CONTINUING 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Allowance for Loan Losses 2339 2485 2534 2425 2219 1957 1604 ALL to period end loans 0.0348 0.04 0.0431 0.0434 0.0416 0.0381 0.032 Allowance for loan losses $ in millions ALLL to period-end loans CONTINUING 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 ALLL to nonperforming loans 1.07 1.0852 1.1587 1.1743 1.303 1.4264 1.502 Asset Quality

KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Growing high quality, diverse revenue streams Net interest margin 3.31% >3.50% Improve funding mix Focus on risk-adjusted returns Net Interest Margin (TE) TE = Taxable equivalent 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Net Interest Income 689 692 716 722 726 726 744 700 706 712 750 738 738 684 664 595 591 613 637 632 623 647 635 NII Adjustments 34 838 18 0 15 738.4 738 684 642 595 591 613 637 Net Interest Spread 0.0319 0.0309 0.0306 0.0305 0.0296 0.0285 0.0285 0.027 0.0262 0.0252 0.0275 0.0281 0.0288 0.027 0.0245 0.0238 0.023 0.0237 0.0253 0.0271 0.027 0.0293 0.0291 Net Interest Margin 0.0367 0.0363 0.0368 0.0372 0.0368 0.0361 0.0366 0.035 0.0346 0.034 0.0348 0.0329 0.0332 0.0317 0.0287 0.0279 0.0277 0.0287 0.0304 0.0319 0.0317 0.0335 0.0331 $ in millions Continuing Operations Net interest margin Net interest spread Net interest income Highlights Net Interest Margin Trend Average CD Balances and Cost $ in billions 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Total CDs 28.5 27.52 25.4 23.149 20.8 17.3 15.005 Rate on CDs 0.0372 0.0356 0.0344 0.033 0.0313 0.0282 0.0269 Average rate on CDs Total average CDs Net interest margin up 27 bps compared to 4Q09, down 4 bps from 3Q10 Modest decline in 4Q10 reflects hedge maturities and change in mix of earning assets Benefited from improved funding mix as maturing CDs re-price, move into lower-cost transaction deposits or exited At December 31, 2010, scheduled maturities of CDs are as follows: 2011 $7.6 billion, average cost 1.71% 2012 $3.9 billion, average cost 3.35% >2012 $2.5 billion, average cost 4.30% Weighted average rate for new CDs booked in 4Q10 was 0.32%

KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Growing high quality, diverse revenue streams Noninterest income to total revenue 45% >40% Leverage Key's total client solutions and cross-selling capabilities Noninterest Income Areas of Focus Targeting specific high-opportunity client segments in our Corporate Bank - using the balance sheet strategically Leverage investment banking and capital markets opportunities Continue to build out Private Banking platform and Key Investment Services Improve alignment of products and services across organization - business decisions based on highest value to Key Evaluate response to Durbin Amendment in Dodd-Frank for potential offsets to lost revenue Noninterest Income and % of Total Revenue 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Noninterest Income 706 382 469 450 492 486 526 Noninterest Income / Total Revenue 0.55 0.3894 0.424 0.4158 0.4413 0.4289 0.453 Noninterest income Noninterest Income to total revenue $ in millions

KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Creating positive operating leverage Keyvolution cost savings $228 million implemented $300-$375 million Improve efficiency and effectiveness Leverage technology Change cost base to more variable from fixed Noninterest Expense Noninterest Expense and Average FTEs 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Noninterest Expense 855 901 871 785 769 736 744 Average FTEs 16937 16436 15973 15772 15665 15584 15424 Noninterest expense Average FTEs $ in millions Highlights Implemented $228 million of Keyvolution cost savings through 4Q10 Estimate $300 - $375 million in annual run rate savings by the end of 2012

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 ROA -0.0162 -0.0094 -0.0026 0.0044 0.0093 0.0153 Pre-Provision Net Revenue (b) $ in millions Return on Average Assets 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 PPNR 142 235 297 346 397 417 Pre-Provision Net Revenue and ROAA (a) KEY Business Model KEY Metrics KEY 4Q10 Targets Action Plans Executing our strategies Return on average assets 1.53% 1.00-1.25% Execute our client insight-driven relationship model Lower credit costs Improved funding mix with lower cost core deposits Keyvolution savings (a) From continuing operations. (b) Net interest income plus taxable-equivalent adjustment and noninterest income less noninterest expense.

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Tangible Common Equity 0.0658 0.0685 0.0632 0.0629 0.0595 0.0606 0.0735 0.0758 0.0756 0.0737 0.0765 0.08 0.0819 Capital Raise Total Tangible Common Equity - Peer Median 0.0559 0.0568 0.0575 0.0574 0.0487 0.0518 0.0632 0.0619 0.0608 0.0645 0.0681 0.0711 Peer Median 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Common 0.0583 0.056 0.0558 0.0562 0.0562 0.0736 0.0764 0.075 0.0751 0.0807 0.0861 0.0931 Convertible 0.0059 0.006 0.0062 0.0065 0.003 0.0032 0.0034 0.0035 0.0036 0.0037 0.0037 TARP 0.0226 0.0239 0.0252 0.0268 0.0282 0.0291 0.0299 0.0307 0.0313 Qualifying capital securities 0.025 0.0235 0.0237 0.0242 0.0256 0.0239 0.0197 0.0209 0.0215 0.022 0.0225 0.0229 Allowance for Loan losses 0.0122 0.0126 0.0126 0.0126 0.0127 0.0129 0.0129 0.013 0.0129 0.0128 0.0127 0.0127 Qualifying LTD 0.0279 0.0261 0.0259 0.0264 0.0269 0.0281 0.0275 0.029 0.0286 0.029 0.0265 0.0268 Total RBC 0.1234 0.1241 0.124 0.1482 0.1518 0.1667 0.1665 0.1695 0.1707 0.178 0.1822 0.1905 Total RBC - Peer Median 0.1136 0.1197 0.1215 0.1448 0.143 0.1508 0.1575 0.154 0.1468 0.1514 0.1561 Qualifying common Convertible preferred Capital purchase program Capital securities Qualifying ALLL/unfunded comm. Qualifying LTD 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Common 0.0525 0.056 0.0558 0.0562 0.0562 0.0736 0.0764 0.075 0.0751 0.0807 0.0861 0.0931 Capital Raise 0 0 Convertible 0.0066 0.0066 0.0063 0.0068 0.0057 TARP 0.0234 0.0249 0.025 Tangible Equity to Tangible Assets - Key 0.0685 0.056 0.0558 0.0562 0.0562 0.0736 Tarp Tangible Equity to Tangible Assets - Peer Median 0.0568 0.059 0.059 0.0774 0.0795 Tier 1 - Peer Median 0.0287 0.03 0.0327 0.0465 0.0578 0.0714 0.0725 0.071 0.0748 0.0778 0.0802 Tier 1 Common Equity (a) Tangible Common Equity to Tangible Assets Total Risk-Based Capital (a) Tier 1 Risk-Based Capital (a) (a) 12-31-10 ratios are estimated. Capital Ratios 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Common 0.0583 0.056 0.0558 0.0562 0.0562 0.0736 0.0764 0.075 0.0751 0.0807 0.0861 0.0931 Capital Raise Convertible 0.0059 0.006 0.0062 0.0065 0.003 0.0032 0.0034 0.0035 0.0036 0.0037 0.0037 TARP 0.0226 0.0239 0.0252 0.0268 0.0282 0.0291 0.0299 0.0307 0.0313 Qualifying Securities 0.025 0.0234 0.0237 0.0242 0.0256 0.0239 0.0197 0.0209 0.0215 0.022 0.0225 0.0229 Tier 1 0.0833 0.0853 0.0855 0.1092 0.1122 0.1257 0.1261 0.1275 0.1292 0.1362 0.143 0.151 Tarp Tier 1 - Peer Median 0.0764 0.0822 0.0835 0.106 0.1092 0.1109 0.116 0.1155 0.1141 0.1185 0.1198

Appendix

Pre-Provision Net Revenue Trend TE = taxable equivalent (a) Net interest income plus taxable-equivalent adjustment and noninterest income less noninterest expense. $ in millions Continuing Operations Pre-provision net revenue (a) Net interest income (TE) Noninterest income Noninterest expense 4Q09 1Q10 2Q10 3Q10 4Q10 $235 $(5) $(19) $86 $297 $346 $397 $417 $(9) $42 $16 $24 $33 $40 $(6) $(12) $(8)

9/30 loans Exit port. runoff / paydown Loans charged off Net decrease 12/31 loans 1 51.354 50.963 50.572 50.1 50.107 2 0.391 0 0 3 0.343 0.432 CF&A and Leasing Total Loans Total Consumer Total Commercial Real Estate 4Q10 Loan Activity $51.4 $50.1 $(.3) $ in billions $(.4) $(.6) 9/30 loans Exit port. runoff / paydown Loans charged off Net increase 12/31 loans 1 23.034 22.809 22.676 22.676 22.912 2 0.225 0 0 3 0.092 0.195 $23.0 $22.9 $(.1) $(.2) $.2 9/30 loans Exit port. runoff / paydown Loans charged off Net decrease 12/31 loans 1 12.404 12.304 12.204 11.608 11.608 2 0.1 0 0 3 0.122 0.547 $12.4 $11.6 $(.1) $(.0) $(.7) 9/30 loans Exit port. runoff / paydown Loans charged off Net decrease 12/31 loans 1 15.916 15.777 15.68 15.587 15.587 2 0.139 0 0 3 0.097 0.093 $15.9 $15.6 $(.1) $(.1) $(.1) (a) (a) (a) (a) Numbers may not cross foot due to rounding. (a) Exit portfolio runoff / paydown excludes net charge-offs.

Investment Portfolio Highlights 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Avg. Securities Available for Sale 8.36 12.154 15.937 16.312 17.285 20.276 21.257 Average Yield 0.0437 0.04 0.0382 0.0373 0.0363 0.0343 0.0327 Average AFS securities Growth in Available for Sale Securities Average yield $ in billions Excess liquidity going into securities available for sale and short-term investments Agency or GSE backed: GNMA, Fannie & Freddie New issuance CMOs, sequentials and PACs New purchase average lives of 2.5 to 3.5 years Weighted-average portfolio maturity at December 31, 2010: 3.0 years Unrealized net gain of $398 million on available- for-sale securities portfolio at 12/31/10

N/M = Not Meaningful (a) Net charge-off amounts are annualized in calculation. (b) 12-31-10 allowance by portfolio is estimated. $ in millions Credit Quality by Portfolio

Fourth Quarter 2010 Third Quarter 2010 Commercial Portfolio - Continuing Ops. Average Loans, NCOs and NPLs $ in millions

$ in millions (a) Nonresidential land and development loans. N/M = Not Meaningful Commercial Real Estate Loans December 31, 2010 (a)

$ in millions (a) Nonresidential land and development loans. (a) Commercial Real Estate (a)

$ in millions, except average loan size (a) Average LTVs are at origination. Current average LTVs for Key Community Bank total home equity loans and lines is approximately 76%, which compares to 75% at the end of the third quarter of 2010. Home Equity Loans December 31, 2010 (a)

(a) Includes the business aviation, commercial vehicle, office products, construction and industrial leases, Canadian lease financing portfolios and all remaining balances related to lease in, lease out; sale in, sale out; service contract leases; and qualified technological equipment leases. (b) Includes loans in Key's education loan securitization trusts consolidated upon the adoption of new consolidation accounting guidance on January 1, 2010. Exit Loan Portfolio $ in millions

Credit Quality Trends Quarterly change in criticized assets (a) Delinquencies to period-end total loans 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 30 - 89 Day % 0.014927407 0.010743022 0.011673193 0.016884342 0.018746125 0.016097161 0.017222806 0.015882968 0.011420314 0.011435595 0.012900417 0.009505319 90+ Day % 0.003611772 0.004734788 0.004222169 0.005671193 0.006220191 0.008224649 0.006032238 0.005637825 0.007767317 0.004505662 0.002961795 0.004768096 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 % Change 0.415 -0.084 0.169 0.413 0.35 0.028 -0.019 -0.078 0 -0.127 -0.141 -0.164 30 - 89 days delinquent 90+ days delinquent (a) Loans and leases outstanding. 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10

Continuing Operations Net Charge-offs to Average Loans

Continuing Operations Nonperforming Loans to Period-end Loans

EX-99.3

Exhibit 99.3

Consolidated Balance Sheets
(dollars in millions)

	12-31-10			9-30-10			12-31-09
Assets
Loans	$	50,107		$	51,354		$	58,770
Loans held for sale		467			637			443
Securities available for sale		21,933			21,241			16,641
Held-to-maturity securities		17			18			24
Trading account assets		985			1,155			1,209
Short-term investments		1,344			1,871			1,743
Other investments		1,358			1,405			1,488
Total earning assets		76,211			77,681			80,318
Allowance for loan losses		(1,604	)		(1,957	)		(2,534	)
Cash and due from banks		278			823			471
Premises and equipment		908			888			880
Operating lease assets		509			563			716
Goodwill		917			917			917
Other intangible assets		21			39			50
Corporate-owned life insurance		3,167			3,145			3,071
Derivative assets		1,006			1,258			1,094
Accrued income and other assets		3,876			3,936			4,096
Discontinued assets		6,554			6,750			4,208
Total assets	$	91,843		$	94,043		$	93,287
Liabilities
Deposits in domestic offices:
NOW and money market deposit accounts	$	27,066		$	26,350		$	24,341
Savings deposits		1,879			1,856			1,807
Certificates of deposit ($100,000 or more)		5,862			6,850			10,954
Other time deposits		8,245			9,014			13,286
Total interest-bearing deposits		43,052			44,070			50,388
Noninterest-bearing deposits		16,653			16,275			14,415
Deposits in foreign office — interest-bearing		905			1,073			768
Total deposits		60,610			61,418			65,571
Federal funds purchased and securities sold under repurchase agreements		2,045			2,793			1,742
Bank notes and other short-term borrowings		1,151			685			340
Derivative liabilities		1,142			1,330			1,012
Accrued expense and other liabilities		1,931			1,862			2,007
Long-term debt		10,592			11,443			11,558
Discontinued liabilities		2,998			3,124			124
Total liabilities		80,469			82,655			82,354
Equity
Preferred stock, Series A		291			291			291
Preferred stock, Series B		2,446			2,442			2,430
Common shares		946			946			946
Common stock warrant		87			87			87
Capital surplus		3,711			3,710			3,734
Retained earnings		5,557			5,287			5,158
Treasury stock, at cost		(1,904	)		(1,914	)		(1,980	)
Accumulated other comprehensive income (loss)		(17	)		285			(3	)
Key shareholders’ equity		11,117			11,134			10,663
Noncontrolling interests		257			254			270
Total equity		11,374			11,388			10,933
Total liabilities and equity	$	91,843		$	94,043		$	93,287
Common shares outstanding (000)		880,608			880,328			878,535

Consolidated Statements of Income
(dollars in millions, except per share amounts)

	Three months ended									Twelve months ended
	12-31-10			9-30-10			12-31-09			12-31-10			12-31-09
Interest income
Loans	$	617		$	649		$	749		$	2,653		$	3,194
Loans held for sale		4			4			6			17			29
Securities available for sale		170			170			150			644			460
Held-to-maturity securities		—			1			—			2			2
Trading account assets		8			8			12			37			47
Short-term investments		1			1			3			6			12
Other investments		11			11			13			49			51
Total interest income		811			844			933			3,408			3,795
Interest expense
Deposits		124			147			246			671			1,119
Federal funds purchased and securities sold under repurchase agreements		2			1			1			6			5
Bank notes and other short-term borrowings		3			4			3			14			16
Long-term debt		53			52			53			206			275
Total interest expense		182			204			303			897			1,415
Net interest income		629			640			630			2,511			2,380
Provision for loan losses		(97	)		94			756			638			3,159
Net interest income (expense) after provision for loan losses		726			546			(126	)		1,873			(779	)
Noninterest income
Trust and investment services income		108			110			117			444			459
Service charges on deposit accounts		70			75			82			301			330
Operating lease income		42			41			52			173			227
Letter of credit and loan fees		51			61			52			194			180
Corporate-owned life insurance income		42			39			36			137			114
Net securities gains (losses) (a)		12			1			1			14			113
Electronic banking fees		31			30			27			117			105
Gains on leased equipment		6			4			15			20			99
Insurance income		12			15			16			64			68
Net gains (losses) from loan sales		29			18			(5	)		76			(1	)
Net gains (losses) from principal investing		(6	)		18			80			66			(4	)
Investment banking and capital markets income (loss)		63			42			(47	)		145			(42	)
Gain from sale/redemption of Visa Inc. shares		—			—			—			—			105
Gain (loss) related to exchange of common shares for capital securities		—			—			—			—			78
Other income		66			32			43			203			204
Total noninterest income		526			486			469			1,954			2,035
Noninterest expense
Personnel		365			359			400			1,471			1,514
Net occupancy		70			70			67			270			259
Operating lease expense		28			40			50			142			195
Computer processing		45			46			49			185			192
Business services and professional fees		56			41			63			176			184
FDIC assessment		27			27			37			124			177
OREO expense, net		10			4			25			68			97
Equipment		26			24			25			100			96
Marketing		22			21			22			72			72
Provision (credit) for losses on lending-related commitments		(26	)		(10	)		27			(48	)		67
Intangible assets impairment		—			—			—			—			241
Other expense		121			114			106			474			460
Total noninterest expense		744			736			871			3,034			3,554
Income (loss) from continuing operations before income taxes		508			296			(528	)		793			(2,298	)
Income taxes		172			85			(347	)		186			(1,035	)
Income (loss) from continuing operations		336			211			(181	)		607			(1,263	)
Income (loss) from discontinued operations, net of taxes		(13	)		15			(7	)		(23	)		(48	)
Net income (loss)		323			226			(188	)		584			(1,311	)
Less: Net income (loss) attributable to noncontrolling interests		3			7			36			30			24
Net income (loss) attributable to Key	$	320		$	219		$	(224	)	$	554		$	(1,335	)
Income (loss) from continuing operations attributable to Key common shareholders	$	292		$	163		$	(258	)	$	413		$	(1,581	)
Net income (loss) attributable to Key common shareholders		279			178			(265	)		390			(1,629	)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders	$	.33		$	.19		$	(.30	)	$	.47		$	(2.27	)
Income (loss) from discontinued operations, net of taxes		(.02	)		.02			(.01	)		(.03	)		(.07	)
Net income (loss) attributable to Key common shareholders		.32			.20			(.30	)		.45			(2.34	)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders	$	.33		$	.19		$	(.30	)	$	.47		$	(2.27	)
Income (loss) from discontinued operations, net of taxes		(.02	)		.02			(.01	)		(.03	)		(.07	)
Net income (loss) attributable to Key common shareholders		.32			.20			(.30	)		.44			(2.34	)
Cash dividends declared per common share	$	.01		$	.01		$	.01		$	.04		$	.0925
Weighted-average common shares outstanding (000)		875,501			874,433			873,268			874,748			697,155
Weighted-average common shares and potential common shares outstanding (000) (b)		900,263			874,433			873,268			878,153			697,155

(a)	For the three months ended December 31, 2010, September 30, 2010 and December 31, 2009, Key did not have any impairment losses related to securities.
(b)	Assumes conversion of stock options and/or Preferred Series A shares, as applicable.