KeyCorp reports developments across its KeyBank banking franchise, KeyBanc Capital Markets, and wealth-management operations. Company news commonly covers deposit, lending, cash management, and investment services for individuals and businesses in its multi-state banking footprint, along with commercial banking coverage for middle-market companies.
Recurring updates include quarterly earnings, net interest income, fee-based businesses such as investment banking, commercial payments, and wealth management, and regional expansion of middle-market teams. News also covers Key Private Bank, customer financial surveys, community partnerships, and capital-markets services including M&A advice, public and private debt and equity, syndications, and derivatives.
KeyBank Foundation has granted $15,000 to the Women's Enterprise Development Center (WEDC) to support its Entrepreneur Growth Lab. The funding will enhance WEDC's ability to provide entrepreneurial training, advisory services, and capital access to small business owners in Westchester County and the Hudson Valley.
WEDC serves over 1,200 clients annually, primarily focusing on low-to-moderate income women and minorities. The organization offers MWBE certification assistance and provides programs in both English and Spanish. This grant is part of KeyBank's $40 billion commitment established in 2017 for lending and investments across its national footprint, supporting affordable housing, community development, and small business lending in low-and-moderate income communities.
KeyBank has announced a $300,000 investment in the Indianapolis Urban League (IUL) to expand its Entrepreneurship Center Program (ECP). The program, established in 2021, supports minority-owned small businesses in Central Indiana through workshops, training, coaching, and resources. Since its inception, ECP has enrolled 196 businesses, awarded over $146,000 in grants, and provided over 2,893 hours of business counseling. The new funding will enhance programming with additional services including mentoring, financial literacy training, and design support, tailored to each entrepreneur's business stage.
KeyCorp (NYSE: KEY) has announced that Chairman and CEO Chris Gorman will present at the Goldman Sachs Financial Services Conference in New York City. The presentation is scheduled for Tuesday, December 10, 2024, at 11:20 a.m. ET. During the conference, KeyCorp will provide an overview of its performance, strategy, and future outlook.
KeyCorp (NYSE: KEY) has declared its fourth quarter 2024 dividends. The company will pay a cash dividend of $0.205 per common share on December 13, 2024, to shareholders of record as of December 3, 2024. Additionally, KeyCorp announced dividend payments for five series of preferred stocks (Series D, E, F, G, and H), all payable on December 16, 2024, to shareholders of record as of December 2, 2024. The preferred stock dividends range from $14.0625 to $312.50 per share, with corresponding depositary share equivalents.
Family Promise of WNY has received a $300,000 grant from the KeyBank Foundation, marking the largest gift in the organization's history. The grant will support capacity building for a second emergency family shelter site in Buffalo, projected to open in 2027. The funding will enable the addition of two key positions: a Housing Specialist and a Development Director. The expansion will more than double their capacity to serve Erie County's homeless families, addressing a critical need as over 100 families currently seek shelter nightly. Family Promise of WNY is one of only two emergency shelters in Erie County keeping families together, with over 70% of their guests being children.
KeyBank has partnered with La Plaza, a new 150,000 sq ft indoor marketplace in Aurora, CO, providing banking solutions for over 100 small businesses. The bank's bilingual team helped business owners open accounts, set up Clover merchant devices, and offered guidance on business registration. KeyBank maintains an ongoing presence at La Plaza with on-site support and delivers Spanish-language financial workshops through their 'Money, Me & Key' program. The partnership highlights KeyBank's commitment to serving the Hispanic community and demonstrates their ability to provide comprehensive banking solutions for large-scale marketplace developments.
KeyBank (NYSE: KEY) announced an expansion of its commercial banking operations in Chicago and Southern California to enhance its middle market services. The expansion includes new appointments and team additions in both regions. Ben Van Vlerah has been appointed Illinois market president, leading a team of four new commercial bankers in the Midwest. In Southern California, Robert Besser has been promoted to commercial leader, overseeing four new team members. The expansion leverages KeyBank's platform of commercial lending, capital markets capabilities, and specialized payment solutions. KeyBank currently manages assets of approximately $190 billion as of September 30, 2024.
A KeyBank Small Business Flash Poll reveals that 61% of small business owners delayed major business decisions until after the election. The survey identified top concerns for 2025: taxation (45%), regulations (34%), and trade policies (31%). Despite challenges, 32% plan to expand staff in 2025. The poll also highlighted impacts of higher interest rates, with 38% facing reduced profit margins and 37% experiencing increased borrowing costs. However, 56% expect future interest rate changes to positively impact their businesses. Business owners have adapted by increasing cash reserves (43%), reducing debt reliance (37%), and diversifying funding sources (32%). The survey included 1,796 U.S. small business owners with annual revenue under $10 million.
KeyBank Community Development Lending and Investment (CDLI) announces two strategic appointments to strengthen its team. Eileen Tran joins as a LIHTC equity originator for the West region, bringing 14 years of affordable housing experience from Wells Fargo. Joseph Jones joins as Tax Credit Syndications fund manager, with over 14 years of experience from Enterprise Community Partners. Both appointments support KeyBank's commitment to expanding affordable housing nationwide. KeyBank has approximately $190 billion in assets and maintains an outstanding record with 11 consecutive 'Outstanding' Community Reinvestment Act ratings.
KeyBank and the Edna Martin Christian Center (EMCC) collaborated to pack 10,000 meals for Indianapolis families in need as part of the Million Meals Movement initiative. The meals will be distributed through EMCC's food pantry, which serves the Martindale-Brightwood area and provides essential food items and household necessities. The pantry operates Monday through Friday from 1 to 3 p.m., accepting donations during weekday hours from 9 a.m. to 4 p.m. The Million Meals Movement has packed over 36 million meals across Indiana since 2007.