Net income from continuing operations attributable to common shareholders at KeyCorp (NYSE: KEY) totaled $199 million, or 21 cents per share, in the first quarter.
That’s up from $184 million, or 21 cents per share, in the first quarter of 2011.
“Key’s first quarter results demonstrate continued positive momentum as we execute on our relationship strategy, strengthen our balance sheet, and maintain disciplined expense control,” Chairwoman and CEO Beth Mooney said in a news release. “Asset quality improved again this quarter, and we were pleased to see growth in our commercial, financial, and agricultural loan portfolio. Key remains committed to meeting the credit needs of its customers and communities.”
KeyBank is number two in the Syracuse–area deposit market with 28 branch offices, more than $1.7 billion in deposits, and a market share of more than 16 percent. In the Utica–Rome area, Key has two branches, more than $64.4 million in deposits, and a deposit market share of more than 1.7 percent, according to the latest statistics from the Federal Deposit Insurance Corp.
Nationwide, Key has more than 1,000 branches in 14 states and assets of more than $87 billion.
For more on this story, see the April 27 issue of The Central New York Business Journal.
Contact Tampone at ktampone@cnybj.com
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