KeyCorp News Archives

October 29, 2009, 7:11 AM / KeyCorp. will "put its name up in lights" on its Western New York district headquarters at Fountain Plaza in Buffalo for the first time as a "visible symbol" of its commitment to the city and region, the bank said Wednesday.

First Capital, a leading financial services firm, announced that it had closed a $40 million financing facility with Key Equipment Finance, an affiliate of KeyCorp .

KeyCorp is no longer king in the Capital Region, at least by one measure. The banking company, based in Albany until 1994, has been displaced by Citizens Bank on the Federal Deposit Insurance Corp.'s annual market-share report.

The debate at Cleveland's City Club Wednesday was supposed to be about the slates of candidates for a possible county charter review commission.

KeyCorp , parent company of Key Bank , recorded a net loss of $438m in Q309, compared to a $48m loss in Q308, as the bank increased its provision for loan losses, write-downs of certain real estate related investments, higher costs associated with other real estate owned assets, and the write-off of certain intangible assets.

SLM Corp led gainers in the S&P 500 index with a rise of 19.6%. Air Products & Chemicals, Inc third quarter profit falls on lower revenue.

Wells Fargo & Company said Wednesday that its third-quarter profit nearly doubled from a year ago, although it joined other big American banks in reporting higher loan losses.

Many of the major banks that released their earnings this week, including J.P. Morgan Chase, Wells Fargo, KeyCorp and U.S. Bancorp highlighted the fact that their non-performing loan rates were slowing, but the piles of bad loans sitting on lenders balance sheets continue to increase, indicating that banks will continue to face major loan losses ...

Though KeyCorp hasn't posted a profit in a year and a half, brighter days may finally be ahead, its chairman said Wednesday.

Banking company KeyCorp says its loss widened considerably in the third quarter as it set aside more money for possible loan losses as borrowers are having a tough time repaying debts amid the recession.

Wells Fargo & Company third quarter revenues rose 116% to $22.5 billion and net income rose 61% to $2.64 billion or 56 cents a share.

Shares of government student-lending firm Sallie Mae jumped more than 20% Wednesday after the company said it sees charge-offs falling over the next six months.

Eds: APNewsNow. Will be led. By THOMAS J. SHEERAN Associated Press Writer CLEVELAND Banking company KeyCorp says its loss widened considerably in the third quarter as it set aside more money for possible loan losses as borrowers are having a tough time repaying debts amid the recession.

Net loss from continuing operations of $.50 per common share Loan loss reserve increased to $2.5 billion, or 4.00% of total loans Capital and liquidity positions remain strong; Tier 1 common equity ratio of 7.63% Sharpened focus on relationship businesses $8.5 billion in new or renewed loans and commitments originated KeyCorp today announced a ...

Shares of U.S. regional banks gave ground Monday as the number of bank failures hit 99 for the year over the weekend and as Keefe Bruyette & Woods said the common and preferred shares of Fannie Mae and Freddie Mac are likely worthless.

A year after bad home loans cost banks billions of dollars and nearly crippled the economy, a looming second wave of loan problems could threaten the existence of regional banks such as KeyCorp, Huntington and Fifth Third.

KeyCorp executive Beth Mooney believes the recession is over, though conditions will remain tough for some time to come.

Whether you credit the taxpayer bailout or believe that top banks never needed one, this exclusive analysis by TheStreet shows that the biggest U.S. banks are more profitable now than last year.

Saying it was determined to offer qualified women-owned businesses $2 billion in loans in 2007, with the goal of reaching those numbers by 2012, KeyBank recently announced that as of April 2009, they have already exceeded those goals, having over $2 billion in loans in place through the program.A Now that KeyBank has reached those goals through ...

The U.S. banking sector will see more consolidation, but any pickup in unassisted deals may not happen before the end of next year, with auctions of failed banks dominating activity in the coming months, bankers said on Tuesday.