KeyCorp Names Khayat EVP, Chief Strategy Officer

KeyCorp has named Clark Khayat executive vice president and chief strategy officer with responsibility for corporate strategy, mergers and acquisitions and strategic investments.

KeyCorp Closes First Niagara Acquisition

KeyCorp has closed its acquisition of First Niagara Financial Group. Systems and client conversion is expected during the fourth quarter of 2016, subject to pending regulatory approval by the Office of the Comptroller of the Currency for the merger of First Niagara Bank into KeyBank.

KeyCorp Reports Lower Q1 Earnings; Asset Quality Impacted by Oil & Gas

KeyCorp reported Q1/16 earnings were down from the same quarter in 2015 and noted its provision charge was higher as its asset quality measures were impacted by credit migration primarily in the oil and gas portfolio.

Reuters: Major Regional Banks Prepare for Energy Loan Losses

According to Reuters, five U.S. regional banks put aside millions of dollars during Q1/16 to cover potential losses from loans to the energy sector.

Three First Niagara Directors to Join KeyCorp’s Board

KeyCorp added Austin A. Adams, Gary M. Crosby and Carlton L. Highsmith to its board of directors. The additions will be effective upon the closing of the merger of First Niagara Financial Group into KeyCorp.

Shareholders Approve KeyCorp, First Niagara Merger

The shareholders of KeyCorp and First Niagara Financial Group voted in favor of a merger between the two companies. More than 90% of votes cast were in favor of the merger.

KeyCorp Acquires First Niagara for $4.1B

KeyCorp and First Niagara Financial entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at approximately $4.1 billion.

KeyCorp Reports 10% Increase in Q3 Earnings on Higher Revenues

KeyCorp said Q3/15 net income from continuing operations of $216 million was up 10% from $197 million a year earlier. Revenue of $1,068 million was up from $998 million in Q3/14.

KeyCorp Q2 Earnings Hurt by Higher Provision Charges

KeyCorp announced Q2/15 earnings of $230 million compared to $242 million a year earlier. The bank noted a $41 million provision charge that was up from $12 million in Q2/14.

KeyCorp’s Mooney Named Most Powerful Woman in Banking

Beth Mooney, CEO and chairman of KeyCorp, received the top spot on American Banker Magazine’s esteemed The 25 Most Powerful Women in Banking list for the second year in a row.