Keycorp - KEY STOCK NEWS

KeyBanc Capital Markets (KBCM) in partnership with Sapphire Ventures released the 14th annual Private SaaS Company Survey, revealing decelerated growth and a transition towards profitability in 2023. The report highlighted trends of customer churn, longer deal cycles, reduced contract values, and decreased ARR growth. It also emphasized the importance of efficient growth metrics and the impact of the tight spending environment on SaaS companies. The survey polled senior executives at over 100 privately held global SaaS companies with a median 2022 ARR of $25.5 million.

SYRACUSE, N.Y. - Funding to Strengthen Communities, Ticker Symbol: TBD

KeyBank Community Development Lending and Investment (CDLI) provided a $35 million construction loan and $15.7 million in 4% federal low-income housing tax credit (LIHTC) equity to finance the acquisition and rehabilitation of Cambridge Square Apartments, located in Monroeville, Pennsylvania. Additionally, KeyBank arranged a $18 million permanent loan through the Fannie Mae forward MBS Tax-Exempt Bond (M.TEB) program. The $22 million of tax-exempt MTEB bonds were sold by KeyBanc Capital Markets. Cambridge Square consists of eight three-story residential buildings and one community building, consisting of 204 apartments. The unit mix includes 78 one-bedroom units, 102 two-bedroom units, and 24 three-bedroom units, with 97% of the tenant units covered by a 20-year Section 8 Housing Assistance (HAP) Contact. The remaining six units are LIHTC restricted at 60% AMI. The sponsor for Cambridge Square is Community Preservation Partners (CPP), an affordable housing rehabilitation company with a significant track record in the industry.

KeyBank Foundation (KEY) donates $385,000 to 20 nonprofit organizations

KeyBank (KEY) grants $150,000 to Girl Scouts of Western Washington (GSWW) to promote diversity, equity, and inclusion. Funds will facilitate participation by historically excluded communities in Girl Scout programming and camp opportunities, supporting inclusiveness and accessibility for youth throughout Western Washington.

KeyBank Foundation (KEY) invests $400,000 to support Trinity Alliance of the Capital Region's Health & Wellness Division, aiming to expand services for community members facing food insecurity and acute crises. The grant is part of KeyBank's $40 billion commitment to invest in the communities it serves. The Health & Wellness Division provides low-barrier, rapid engagement services to economically challenged residents in New York's Capital Region, with a focus on the City of Albany. Since 2017, KeyBank has invested more than $1 billion in the Capital Region through its National Community Benefits Plan, supporting affordable housing, community development projects, small business and home lending, and transformative philanthropy.

KeyCorp (KEY) announced the launch of the Key 401(k) Pooled Employer Plan ('PEP') by KeyBank Institutional Advisors (IA), offering a single, customizable plan for unrelated employers, effective January 1, 2024. The PEP aims to reduce administrative burden and fiduciary risks, providing potential economies of scale pricing and professional plan management. Key's PEP solution offers integrated platform benefits including fiduciary oversight, compliance, cost efficiencies, and seamless participant user experience.

KeyBank (KEY) awards $100,000 grant to UAACC Charitable Foundation to support career exploration programming for Utah's Black community. The foundation aims to improve economic development, build Black wealth, and strengthen the workforce pipeline. KeyBank's giving strategy focuses on neighbors, education, and workforce, aiming to equip young adults with skills for sustainable employment.

Utah Food Bank (Ticker: UFB) receives a $100,000 grant from KeyBank to expand its Culturally Responsive Food Project, aiming to distribute culturally familiar foods to communities in need throughout Salt Lake County. The project will also scale to food pantries state-wide, benefiting from additional food items, inventory management technology, and surveys to create a Utah-specific culturally relevant foods list. KeyBank's support will enrich lives by offering nutritious and familiar meals for food insecure populations. Utah Food Bank President & CEO, Ginette Bott, expresses gratitude for the support, emphasizing the importance of refining the distribution of culturally responsive foods in Salt Lake County before expanding statewide.