Key Bank is one of the most famous banks in the United States. It is a regional banks and its headquarters are in Key Tower, within Cleveland. In the year 2007, Key Bank also got the award of 16th largest bank in the United States based on the total deposits of the bank. Based on total assets, Key Bank is the 12th largest bank in the United States. This shows that Key Bank is one of the best banks of America. Key Bank has a diverse client base and about 17468 employees are serving the customers. The bank targets small business, corporate, investment clients and retail customers. Key Bank has its branches in Washington, Michigan, New York and many other cities. The total number of branches of Key Bank is 985. The business offices of Key Bank are in 31 states. The popularity of the bank can be also estimated from the fact that in 2008, the bank was ranked 321 on the Fortune 500 list. 

If you go through the newspapers daily, you will find that after the financial economic crisis, banks are the major sufferers. However, in 2008 Key Bank is the only last surviving major bank in Cleveland. The bank is owned by Key Corporation which is listed on New York stock exchange. If you review the history of the bank, you will find that bank has adopted different paths to modify with the society. 

New York Governor DeWitt Clinton undertook a bill leasing the Commercial Bank of Albany in the year 1825. The reorganization of the Commercial Bank took place in 1865. This reorganization happened under the National Banking Act of 1864 and the name of the bank was changed and it was known as National Commercial Bank of Albany. In 1971, the Commercial bank was merged with First Trust and Deposit and it was recognized as the First Commercial Bank. At that time, it was a New York State bank with 89 offices and Riley became the president of the bank and it’s CEO in 1973. The name of the bank was changed to Key Bank in 1979. When Riley became the CEO and president of the bank, he wanted to grow Key through acquisition. Although the bank was growing from the mid-1970s to early 1980s, however, it could establish its desirable position. Through the impressive work of Riley, Key Bank’s assets grew from $3 billion to $15 billion between 1985 and 1990.

The performance of Key Bank remained outstanding during the early 1990s recession and the bank also bought the assets of two failed financial institutions from the government including Empire Federal Savings and Loan and Goldome Savings Bank. Throughout its operations, Key bank has been purchased assets. In 1992 it bought Tacoma and in 1992, it acquired Home Federal Savings of Fort Collins. The strategies adopted by bank in different periods also contribute towards its success. In 1993 the bank focused upon the rural strategy with minimal technology and local management. This strategy of the bank appeared as a very profitable strategy for the bank. If you open the financial reports of Key bank you will find good return on investment and high growth rates.

There are very few banks which are able to satisfy their customers from their services. Key bank is one of the successful banks of America which has built a suitable name in banking industry.