KeyBank to Add Five Branches in NE Ohio

CLEVELAND, Jan. 18, 2011 /PRNewswire/ -- KeyBank (NYSE: KEY) will add five new branches and approximately 30 new branch jobs in Northeast Ohio during the next 15 months. Key will also relocate three existing Northeast Ohio branches into new buildings in 2011. When completed, Key will have 122 branches in Northeast Ohio, up from 105 branches four years ago.

(Photo: http://photos.prnewswire.com/prnh/20110118/CL31649-a )

(Photo: http://photos.prnewswire.com/prnh/20110118/CL31649-b )

Key has already added 12 new branches and approximately 72 new branch jobs in Northeast Ohio since 2007, and also relocated six existing branches into new buildings during the same time.

"As Cleveland's biggest hometown bank and the leader in market share here, the investment in our Northeast Ohio branches reflects Key's commitment to providing clients with convenient access to our award-winning customer service," said Beth Mooney, president and chief operating officer of KeyCorp. "Every branch is a tangible and visible expression of Key's community bank strategy and reflects the continued importance of bank branches to consumers and businesses."

"Our employees have made us number one in Cleveland by providing customer service that attracts new clients and delights long-term customers," said Lisa Oliver, president of Key's greater Cleveland district. "At a time when many banks are closing branches, we're taking a different approach. We're expanding our branch network, creating jobs and making banking easier for our clients by building branches closer to where they live and work."

Oliver also credited market conditions and disruption for Key's growth in Northeast Ohio. Current market conditions are making expansion less expensive, she said, as real estate is more available and construction costs are lower. Market disruption -- the loss and consolidation of other banks -- presents additional opportunity to attract new customers.

Key's five new branches planned for Northeast Ohio and their estimated openings are:

• Concord, February 2011
• Lyndhurst, July 2011
• Eastlake, August 2011
• Cleveland (Steelyard Commons), October 2011
• Middleburg Heights, first quarter 2012

Key will relocate its Akron Main branch and Akron-area headquarters into a new building in downtown Akron on January 31, 2011. Key's Independence branch will relocate into a new building in June 2011, and Key's West 117th Street branch will relocate into a new building in November 2011.

In addition to the new Northeast Ohio branches, Key will add 27 other new branches across its 14 state footprint in 2011, adding a total of nearly 200 new branch jobs. Additionally, Key will move eight existing branches into new buildings and will remodel 50 branches.

About KeyCorp

Cleveland-based KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $94 billion. BusinessWeek magazine named Key the top bank on its 2009 "Customer Service Champ" list, ranking Key 11th out of 25 companies known for customer service acumen. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/.

KEY MEDIA NEWSROOM: Key.com/newsroom

SOURCE KeyBank