KEY — what changed in the latest 10-Q
A section-by-section comparison of KEY's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-05 vs the prior 10-Q · 2025-11-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +116 | −125 | ~71 | 125 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 12 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-05
•geopolitical destabilization, including ongoing military conflicts;
•labor shortages, increases in unemployment rates, and supply chain constraints;
•Our noninterest income strength continues to be driven by differentiated fee businesses strategically focused on targeted scale. Our priority fee-based businesses — investment banking, commercial payments, and wealth management – collectively grew 12% year-over-year.
•Our Assets Under Management were $69.8 billion for the first quarter of 2026, up 14.3% year-over-year, driven by net positive cash inflows and market impacts on portfolios.
•We ended the quarter with a Common Equity Tier 1 ratio of 11.4%(a), which positions us to continue to support existing and prospective clients.
Text removed vs the prior filing · source: 10-Q · 2025-11-04
can or will be achieved. Factors that could cause our actual results to differ from those described in forward-looking statements include, but are not limited to:
•labor shortages and supply chain constraints, as well as the impact of inflation;
•our ability to manage reputational risk, including risks related to corporate responsibility and sustainability efforts;
•Our Assets Under Management stand at a record high of $67.9 billion for the third quarter of 2025, up 11% year-over-year, driven by net positive cash inflows and market impacts on portfolios.
•Our noninterest income strength continues to be driven by differentiated fee businesses strategically focused on targeted scale. On a quarterly basis, Investment banking and debt placement fees and Trust and investment services fees are up 8% and 7%, respectively, versus the prior year.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice