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 · 2026-08-04 vs the prior 10-Q · 2026-05-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +51 | −41 | ~105 | 166 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| 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 · 2026-08-04
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:
•Relationship households increased approximately 3% year-over-year and commercial clients increased approximately 2% year-over-year, reflecting continued client acquisition and relationship deepening.
•Our priority fee-based businesses — investment banking, commercial payments, and wealth management – continued to contribute to revenue diversification, collectively growing 8% in the first half of 2026 compared with the prior-year period.
•We announced an agreement to acquire Clearwater U.K., which is expected to expand our middle-market mergers and acquisitions (“M&A”) advisory capabilities internationally and further support our priority fee-based business growth strategy.
•Our Assets Under Management were $74.2 billion for the second quarter of 2026, up 15.5% year-over-year, reflecting favorable market impacts as well as continued momentum in our wealth management business.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
•Commercial client growth and net new relationship households increased approximately 3% and 2%, respectively, year-over-year, reflecting strong client growth and relationship depth.
•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.
•Our continuous focus on maintaining our risk discipline has and should continue to position us to perform well through all business cycles. Net charge-offs are tracking in line with our current outlook for the year.
•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.
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