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's Key4Women program, MESO, and the Portland Thorns FC are hosting their second annual business pitch contest for women-owned businesses in Oregon and SW Washington. The contest offers $50,000 in awards, with a grand prize of $20,000. Eligible businesses must be 51% women-owned and headquartered in specific counties. Applications open on June 3, 2024, and close on July 15, 2024. The finalists, announced in early August, will pitch at a live event on October 10, 2024. Last year's winner, Melody Brown of L&M Hair Company, will serve as a judge. The event aims to support women entrepreneurs through mentorship and capital.
KeyBank will host a Juneteenth Financial Wellness Series in Buffalo, N.Y., as part of its support for the 2024 Juneteenth Festival. The workshops, scheduled from 5:00 p.m. to 7:00 p.m. at the C-District Police Station community room, will cover mortgage (June 6), small business (June 13), and wealth building (June 20). KeyBank emphasizes its commitment to inclusivity, offering mortgage and home equity lending products without regard to race, color, religion, national origin, sex, handicap, or familial status. The bank will also participate in the festival parade on June 15.
Operation HOPE, in partnership with U.S. Bank and KeyBank, introduces 'UPLIFT Denver,' a new initiative to enhance financial literacy and economic empowerment in Denver. Scheduled for June 6, 2024, from 4-6 p.m. at the B.E. Event Center, the event aims to provide free financial education and resources to local residents. Attendees can engage in sessions on topics like credit management, homeownership, and entrepreneurship, and interact with financial coaches and community leaders. KeyBank and U.S. Bank highlight the importance of financial literacy as a cornerstone of economic empowerment. The initiative aims to address wealth disparities and increase access to homeownership and business opportunities for diverse working-class families in Denver.
According to HOPE Research Institute, the initiative has already shown progress with average credit scores for clients increasing by 37 points, a median debt reduction of $2,314, and a median savings increase of $1,128. Nearly 300 attendees are expected.
KeyCorp (NYSE: KEY) announced that its CFO, Clark Khayat, and President of KeyBank Real Estate Capital, Daniel Heberle, will present at the Morgan Stanley US Financials, Payments, & CRE Conference on June 11, 2024, at 3:15 p.m. ET in New York City.
The presentation will cover KeyCorp's performance, strategy, and outlook. The live audio webcast will be available at www.key.com/ir, with replays accessible post-event.
With roots tracing back to Albany, NY, KeyCorp is one of the nation’s largest bank-based financial services companies, managing assets of approximately $187 billion as of March 31, 2024. KeyCorp operates in 15 states with around 1,000 branches and 1,200 ATMs, providing a wide range of financial services under KeyBank and KeyBanc Capital Markets.
KeyBank has announced the appointment of Marissa Brydle as their new Sustainability Director, effective June 4, 2024. Brydle will lead the development and execution of KeyBank's climate strategies and disclosures, aiming to drive the company's climate-related commitments. She will also serve as the primary contact for investors and other stakeholders. Brydle brings 15 years of sustainability strategy and disclosure experience, including her recent role at Cleveland-Cliffs, where she led the corporate sustainability team. Her expertise aligns with KeyBank's goal to transition to a low-carbon economy and enhance their corporate responsibility strategy.
KeyBank's Chief Corporate Responsibility Officer and CEO of KeyBank Foundation, Eric Fiala, expressed confidence in Brydle's ability to advance the bank's sustainability initiatives. Brydle holds bachelor's and master's degrees from John Carroll University and has extensive experience in corporate sustainability and external reporting activities.
On May 31, 2024, KeyBank Foundation announced a $450,000 investment to combat food insecurity in East Buffalo. The grant, revealed at the opening of the third season of the KeyBank Delavan-Grider Farmers Market, benefits two organizations: Buffalo Go Green and the Independent Health Foundation's 'Healthy Options at Home' program.
Buffalo Go Green received $300,000, supporting its Holistic Wellness & Agricultural Education Campus, Fruits & Vegetables Prescription Program, and nutrition education in their new commercial kitchen. The Independent Health Foundation received $150,000 for its comprehensive nutrition education program, providing meal kits and cooking tools to over 1,500 families since its inception amid the COVID-19 pandemic.
KeyBank has invested over $1 billion in Buffalo and Western New York since 2017, focusing on affordable housing, community development, small business, and home lending in low-to-moderate-income communities.
KeyBank's 2024 Small Business Survey reveals that fraud remains a significant concern for small business owners. The survey highlights that payment fraud (44%), identity theft (37%), malware and ransomware attacks (28%), and phishing and email scams (27%) are top threats. To combat these risks, KeyBank offers various resources and tools. In 2023, KeyBank lent $267.7 million to low-to-moderate income (LMI) communities and processed $11.2 billion in Paycheck Protection Program (PPP) loans in 2020-2021. KeyBank, a leading SBA lender, has provided over $4.5 billion in small business loans and lines of credit. The bank recently received its 11th consecutive 'Outstanding' rating from the OCC for their Community Reinvestment Act activities.
KeyBank has been recognized as one of the 50 most community-minded companies in America by Points of Light for the eleventh time. The Civic 50 survey, administered by True Impact, evaluates companies based on resource investment, business integration, policy institutionalization, and impact measurement. KeyBank is one of the few companies to consistently achieve high marks in the program's 12-year history. Additionally, KeyBank has been named this year's Financials Sector Leader, marking the seventh year for this accolade. The Civic 50 highlights companies dedicated to leveraging their resources for social impact.
KeyBank (NYSE:KEY) has been ranked 17th on Fair360's 2024 'Top 50 Companies for Diversity' list, an improvement from its 22nd position in 2023.
This is the 15th time KeyBank has appeared on the list. The company also ranked highly in several specialty lists, including #1 for People with Disabilities, #6 for Veterans, and #9 for LGBTQ+ Employees.
Chris Gorman, Chairman and CEO, highlighted the company's dedication to diversity, equity, and inclusion as key factors behind this recognition. KeyBank, headquartered in Cleveland, Ohio, operates in 15 states with assets of approximately $187 billion as of March 31, 2024.
KeyCorp (NYSE: KEY) announced that its Chairman and CEO, Chris Gorman, will present at the Bernstein Annual Strategic Decisions Conference on May 29, 2024, at 4:30 p.m. ET in New York City.
The presentation will cover KeyCorp's performance, strategy, and future outlook. A live audio webcast will be available on KeyCorp's investor relations website. Replays will also be accessible.
KeyCorp, headquartered in Cleveland, Ohio, is one of the largest bank-based financial services companies in the U.S., with assets of approximately $187 billion as of March 31, 2024. It offers a range of financial services through its KeyBank National Association and KeyBanc Capital Markets.