KeyCorp reported first-quarter 2026 diluted earnings per share of $0.44, up from $0.33 in the same quarter a year earlier and from $0.43 in the fourth quarter of 2025.
Revenue rose to $1.953 billion, compared with $1.773 billion in 1Q25 and $2.005 billion in 4Q25. Net interest income increased to $1.230 billion from $1.105 billion a year earlier and $1.223 billion in the prior quarter.
Noninterest income was $723 million, up from $668 million in 1Q25 but down from $782 million in 4Q25. Noninterest expense came in at $1.181 billion, compared with $1.131 billion a year earlier and $1.241 billion in 4Q25.
Provision for credit losses was $106 million, down from $118 million in 1Q25 and $108 million in 4Q25.
Return on assets improved to 1.14% from 0.88% in 1Q25 and 1.08% in 4Q25. Return on tangible common equity rose to 13.0% from 11.2% a year earlier and 12.4% in the prior quarter. The cash efficiency ratio improved to 60.4% from 63.5% in 1Q25 and 61.6% in 4Q25.
On the balance sheet, KeyCorp ended the quarter with $189 billion in assets, $148 billion in deposits and $109 billion in loans. Assets under management were about $70 billion. The company said its CET1 ratio was 10.0%.
The bank also said priority fee-based businesses grew 12% year over year, assets under management increased 14% year over year, commercial client growth was up 3%, and net new relationship household growth was up 2% year over year.
Capital returns continued in the quarter, with $389 million of shares repurchased in 1Q26 out of $1.3 billion planned for 2026. The company also said it expects to repurchase $1.3 billion in shares this year, up from a previous guide of $1.2 billion. Following these announcements, the company's shares moved -0.05%, and are now trading at a price of $21.33. For more information, read the company's full 8-K submission here.
