KeyDirect

www.keydirect.com
 
As of October 3, 2009, KeyDirect is providing products and services to existing clients only. If you are an existing client, you may renew a KeyDirect CD or add new KeyDirect products by calling us directly at 1-800-872-5553 Monday - Friday, 8 a.m. - 6 p.m. ET. If you do not have an account with KeyDirect, you can visit Key.com for more information about KeyBank products and services. Note: KeyBank can open and service accounts in the following states: AK, CO, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, or WA.

Related Blog Posts

KeyDirect Is No Longer Accepting New Customers - 10/9/2009

KeyDirect is no longer accepting new customers. Here's what KeyDirect states on its website:As of October 3, 2009, KeyDirect is providing products and services to existing clients only.KeyDirect is the internet division of KeyBank N.A., a large bank with...

Major Regional Banks: Their Latest Losses and CD Deals - 10/21/2008

As this NY Times article describes, four large regional banks reported their third quarter results today. As you might expect, they continue to have problems. Here's a summary of their results:National City - fifth quarterly loss, announced a 14% work...

5.25% 29-Month CD with Key Advantage Checking at KeyDirect - 10/13/2008

KeyDirect has ended its 4.75% APY 23-month CD, but they have come out with a new 29-month CD with a yield of 5.00% APY. As I first mentioned in this August post, you can receive an extra 25 basis points on the CD rates if you have or open a Key Advantage...

High CD Rates at KeyDirect and KeyBank - 4.55% 12-Month, 5.50% 48-Month - 8/20/2008

Update 8/23/08: KeyDirect CD rates have changed. The 4.30% APY now only applies to the 13-month term. The 48-month CD yield has gone down to 4.75% APY.KeyDirect has recently increased the yield on its 12-month CD to 4.30% APY. It continues to offer very...

2008

2007



Institution Statistics


FDIC Certificate #17534
OCC #22908
BankRate ReportView
Year Established1849
Employees15640
Primary RegulatorOCC

Assets and Liabilities

Assets$91.95 billion
Loans$60.11 billion
Deposits$68.78 billion
Equity Capital$9.51 billion
Loan Loss Allowance$2.57 billion
Unbacked Noncurrent Loans$2.83 billion
Real Estate Owned$130.84 million

Historic Data - March 2009

Assets$95.52 billion
Equity Capital$9.12 billion
Loan Loss Allowance$2.57 billion
Unbacked Noncurrent Loans$2.27 billion
Real Estate Owned$143.44 million

Profit Margin - Quarterly

Net Interest Margin3.19%
Return on Assets-0.15%
Return on Equity-1.58%
Interest Income$873.25 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2010 KeyDirect had $2.96 billion in non-current loans and owned real-estate with $12.08 billion in equity and loan loss allowances on hand to cover it. This gives KeyDirect a Texas Ratio of 24.52% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for KeyDirect increased slightly from 20.63% as of March 31, 2009 to 24.52% as of March 31, 2010, resulting in a negative change of 18.85%. This indicates that the balance sheet and financial strength for KeyDirect has declined slightly in recent periods.
Deposit Growth3
In the past year, KeyDirect has decreased it's total deposits by -$2.44 billion, resulting in -3.42% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth KeyDirect has shown is average.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. KeyDirect has $91.95 billion in assets with $12.08 billion in equity, resulting in a capitalization level of 13.14%, which is average.
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