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Net income rises in Q1 for KeyBank parent

Rochester Business Journal
April 17, 2014

KeyCorp on Thursday reported a slight increase in first-quarter net income, beating Wall Street estimates by 2 cents a share.

The Cleveland-based parent of KeyBank N.A. in the Rochester market reported net income available to shareholders of $232 million, or 27 cents a diluted share, up 1.3 percent from $196 million, or 22 cents a share, in the first quarter 2013.

Analysts projected per share earnings of 24 cents.

“This was a solid quarter for Key, delivering on our commitments to generate positive operating leverage, maintain our strong risk management practices and remain disciplined in the way we manage capital,” Chairman and CEO Beth Mooney said in a release.

KeyBank ranks sixth in the Rochester market with local deposits of $1.1 million.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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