KeyCorp - KEY STOCK NEWS

KeyBank has partnered with La Plaza, a new 150,000 sq ft indoor marketplace in Aurora, CO, providing banking solutions for over 100 small businesses. The bank's bilingual team helped business owners open accounts, set up Clover merchant devices, and offered guidance on business registration. KeyBank maintains an ongoing presence at La Plaza with on-site support and delivers Spanish-language financial workshops through their 'Money, Me & Key' program. The partnership highlights KeyBank's commitment to serving the Hispanic community and demonstrates their ability to provide comprehensive banking solutions for large-scale marketplace developments.

KeyBank (NYSE: KEY) announced an expansion of its commercial banking operations in Chicago and Southern California to enhance its middle market services. The expansion includes new appointments and team additions in both regions. Ben Van Vlerah has been appointed Illinois market president, leading a team of four new commercial bankers in the Midwest. In Southern California, Robert Besser has been promoted to commercial leader, overseeing four new team members. The expansion leverages KeyBank's platform of commercial lending, capital markets capabilities, and specialized payment solutions. KeyBank currently manages assets of approximately $190 billion as of September 30, 2024.

A KeyBank Small Business Flash Poll reveals that 61% of small business owners delayed major business decisions until after the election. The survey identified top concerns for 2025: taxation (45%), regulations (34%), and trade policies (31%). Despite challenges, 32% plan to expand staff in 2025. The poll also highlighted impacts of higher interest rates, with 38% facing reduced profit margins and 37% experiencing increased borrowing costs. However, 56% expect future interest rate changes to positively impact their businesses. Business owners have adapted by increasing cash reserves (43%), reducing debt reliance (37%), and diversifying funding sources (32%). The survey included 1,796 U.S. small business owners with annual revenue under $10 million.

KeyBank Community Development Lending and Investment (CDLI) announces two strategic appointments to strengthen its team. Eileen Tran joins as a LIHTC equity originator for the West region, bringing 14 years of affordable housing experience from Wells Fargo. Joseph Jones joins as Tax Credit Syndications fund manager, with over 14 years of experience from Enterprise Community Partners. Both appointments support KeyBank's commitment to expanding affordable housing nationwide. KeyBank has approximately $190 billion in assets and maintains an outstanding record with 11 consecutive 'Outstanding' Community Reinvestment Act ratings.

KeyBank and the Edna Martin Christian Center (EMCC) collaborated to pack 10,000 meals for Indianapolis families in need as part of the Million Meals Movement initiative. The meals will be distributed through EMCC's food pantry, which serves the Martindale-Brightwood area and provides essential food items and household necessities. The pantry operates Monday through Friday from 1 to 3 p.m., accepting donations during weekday hours from 9 a.m. to 4 p.m. The Million Meals Movement has packed over 36 million meals across Indiana since 2007.

KeyBank and KeyBank Foundation announced a $390,000 investment in Dayton's Preschool Promise Inc. to enhance its Promise Scholars program. The funding will cover up to $5,000 in tuition costs per semester for early childhood educators to earn credentials debt-free over the next four years. The program aims to address the early educator workforce crisis and improve classroom instruction quality.

The initiative will implement three key strategies: creating high school pathways to early learning programs, establishing a Registered Apprenticeship program with community colleges, and leveraging government workforce development funding. Additionally, the program will provide computers to students lacking technology access, particularly benefiting first-generation and returning college students.

KeyCorp (NYSE: KEY) has announced a reduction in its prime lending rate from 8.00% to 7.75%, effective November 8, 2024. The company, headquartered in Cleveland, Ohio, manages assets of approximately $190 billion as of September 30, 2024. KeyCorp operates through KeyBank National Association across 15 states with roughly 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services. Additionally, through KeyBanc Capital Markets, the company offers corporate and investment banking products to middle market companies.

KeyCorp (NYSE: KEY) has announced the cancellation of its presentation and webcast at the BancAnalysts Association of Boston Conference, originally scheduled for November 8, 2024, at 10:35 a.m. ET, due to walking pneumonia. The company, with assets of approximately $190 billion as of September 30, 2024, operates through KeyBank National Association across 15 states with around 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services.

KeyBank and KeyBank Foundation announced a $300,000 investment in Ann Arbor's Avalon Housing to enhance supportive services for tenants at risk of housing instability. The funding will support intensive case management services, helping tenants navigate care systems and achieve long-term stability. Avalon Housing, using the Housing First approach, maintains a 95% housing retention success rate. The organization currently manages 29 sites in Ann Arbor, Dexter, and Chelsea, with 150 new units in development. This investment aims to address the increasing homelessness crisis in Washtenaw County while providing residents with access to jobs, education, and healthcare resources.