KeyBank (NYSE: KEY) is a regional bank headquartered in Key Tower within Cleveland, Ohio's Public Square. As of 2013, it is the 22nd largest bank in the United States based on total deposits. It is the 29th largest bank in the United States by total assets.
KeyBank National Association is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.
KeyBank has approximately 14,999 employees and a diverse client base. Key's customer base spans retail, small business, corporate, and investment clients. There are 1,052 KeyBank branches, located in Alaska, Colorado, Connecticut, Idaho, Indiana, Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont, and Washington, and 1,359 ATMs. KeyCorp maintains business offices in 31 states. In 2008, Key was ranked 321 on the Fortune 500 list.
KeyBank also has several major sub-headquarters throughout Ohio; these are located in Cincinnati, Columbus, and Dayton. KeyBank recently took naming rights to the former MeadWestvaco Tower in Dayton, renaming it KeyBank Tower.
With RBS-owned Citizens Financial Group acquiring Charter One Financial in 2004 (though the latter retained its name in most areas under Citizens ownership) and the acquisition of National City by PNC Financial Services in 2008, KeyBank remains the only major bank based in Cleveland.
The company owns the naming rights to KeyArena in Seattle, Washington. On April 11, 1995, the city of Seattle sold the naming rights to KeyCorp for $15.1 million, which renamed the Coliseum as KeyArena. Now that KeyArena has lost its major tenant, there has been speculation that KeyCorp may try to amend or back out of the naming rights deal. However, in March 2009, the city and KeyCorp signed a new deal for a two-year term that ended December 31, 2010, at an annual fee of $300,000.
Traded as: NYSE: KEY, S&P 500 Component
Industry: Financial services
Headquarters: Cleveland, Ohio, US
Key people: Beth E. Mooney, CEO, Thomas C. Stevens, Chris Gorman
Revenue: $4.465 billion (2010)
Net income: $920 million (2011)
Total assets: $91 billion (2013)
Employees: 14,999 (2013)