This Week
  • Siblings Bradley Calkins and Katherine Lindahl are co-CEOs of Rochester Midland.

  • Kelby Russell wants you to know: Local wines are among the world's finest.

  • The number of temporary help employees locally has grown since the recession.

  • Employee cross-training has become essential for organizations to run smoothly.

  • P3 Systems Inc. sells and services new and refurbished networking equipment.

  • Challenges mount for area companies that do business in Russia.

KeyCorp reports 8 percent rise in net income

Rochester Business Journal
July 17, 2014

KeyCorp, parent of KeyBank N.A., in the Rochester market, reported an 8 percent increase in second-quarter net income attributable to common shareholders Thursday.
 
The Cleveland-based bank reported net income of $214 million, or 24 cents a diluted share. That compares with net income on the same basis of $198 million, or 22 a diluted share, in the second quarter 2013.

Excluding onetime charges, net income for the quarter ending June 30 was $242 million, or 28 cents a basic share, up from $193 million, or 21 cents a share, a year ago.

Analysts had expected the bank to report earnings per share of 26 cents.

Key also announced an agreement to acquire Pacific Crest Securities, a technology-focused investment bank based in Portland, Ore. The purchase price was not disclosed. The transaction is scheduled to close in the third quarter, pending regulatory approval.

KeyBank N.A. ranks sixth in the Rochester market with local deposits of $888.3 million, data from the Federal Deposit Insurance Corp. shows.

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


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google