Keybank, rated the 16th largest bank in the United States based on total deposits, was formed in 1994 through the merger of Society Corp. of Cleveland (”Society Bank”) and KeyCorp (”Old KeyCorp”) of Albany, New York.
Quick Stats
Type – Public (NYSE: KEY)
Founded – 1825
Headquarters – Cleveland, Ohio
Key people – Henry L. Meyer III, Chairman and Chief Executive Officer
Thomas C. Stevens, Vice Chair, Chief Administrative Officer
Beth E. Mooney, Vice Chair, Community Banking
Peter D. Hancock, Vice Chair, National Banking
Industry – Financial Services
Products – Banking
Revenue – US$ 7.87 billion (2008)
Net income – US$ 919 million (2008)
Total assets – US$ 99.98 billion (2008)
Website – www.key.com
Brief History
It is the 12th largest bank in the United States by total assets. KeyCorp maintains business offices in 31 states. In 2008, Key was ranked 321 on the Fortune 500 list. KeyBank has approximately 17,468 employees and a diverse client base.
Key’s customer base spans retail, small business, corporate, and investment clients. There are 985 Key branches and 1,479 ATMs. KeyBank recently took naming rights to the former MeadWestvaco Tower in Dayton, Ohio which is now named KeyBank Tower.
In October 2008, Key received some $2.5 billion in TARP funds,
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