- From a $22 million asset bank in 1998 to nearly $23 billion today.
- Expansion from 5 employees to 2,600 and from one office to 217 across five states.
- Market cap growth from $4.5 million purchase price to nearly $6 billion.
- Ranked #64 in total assets among US banks and #35 in market value.
- Management emphasizes the company's long-term growth, profitability, and strong capital position.
Explore Similar Insights
- The company is actively shifting its asset base from lower-yielding residential mortgages to higher-yielding commercial and C&I loans, with over $700 million in C&I growth in H1 2025.
- This mix shift is driving record net interest income of $300 million in Q2, the strongest in company history.
- The ongoing asset remixing is expected to support profitability and margin expansion, with net interest margin climbing above 3%.
- Comerica emphasizes its focus on organic growth, particularly in growth markets, with a proven commercial model and long-term customer relationships.
- Management highlights recent successful outcomes from strategic investments in small business, middle market, payments, and treasury management.
- The company aims to grow alongside the economy, leveraging structural tailwinds from maturities in swaps and securities portfolios.
- Adjusted non-interest expenses were $344 million, reflecting two months of Bremer operations, with positive operating leverage year over year.
- Adjusted non-interest income was $112 million, reflecting growth in wealth, mortgage, and capital markets.
- CET1 ratio was 10.74%, approximately 50 basis points higher than expected post-Bremer close.
- CET1 ratio was better than expected at 10.74%, about 50 basis points higher than modeled post-Bremer.
- Criticized and classified loans decreased by approximately 9% excluding Bremer, and allowance for credit losses improved by 8 basis points to 1.24%.
- Loan growth excluding Bremer was 3.7% annualized from last quarter, in line with guidance, with strong commercial and C&I loan production.
- Loan growth excluding Bremer was 3.7% annualized from last quarter, in line with guidance, with strong commercial and industrial loan production.
- Net charge-offs were 24 basis points, or 21 basis points excluding charge-offs on PCD loans, with non-accrual loans declining 5 basis points during the quarter.
- Net interest income and margin increased driven by Bremer, organic loan growth, and securities portfolio repositioning.
- Old National reported GAAP 2Q earnings per share of $0.34, with adjusted EPS of $0.53 excluding $0.19 of net merger-related expenses, representing an 18% increase over the prior quarter and 15% year over year.
- Tangible book value per share increased by 14% year over year despite the impact of the Bremer partnership.
- Total deposits increased by $13.3 billion, with core deposits ex-brokered up $11.6 billion.
- First Interstate is actively refocusing its franchise on core markets with strong market share and high growth potential, including opening a new branch in Columbia Falls, Montana.
- The company announced no branch consolidations in Q2 but anticipates sequential actions into 2026 as part of its strategic realignment.
- Management emphasized the importance of branch optimization and organic growth through relationship banking, supported by a strong branch network in growth markets.
- The strategic decision to stop new originations and indirect lending reflects a significant pivot towards core market strength and profitability.
- Post-merger, tangible book value per share increased by 9% to $24.57 as of June 30, 2025.
- Tangible equity ratio recovered to pre-merger levels within 10 months.
- Capital strength supports strategic growth initiatives and future M&A evaluations.
- Tim Spence emphasized that Fifth Third prioritizes organic growth over M&A, focusing on building density in key regions to gain competitive advantage.
- The company believes that expanding branch networks and customer relationships in specific markets is more effective than broad geographic expansion.
- Management highlighted their strategy of increasing branch count in Southeast markets, aiming for nearly 400 branches by year-end.
- The focus on dense regional presence is likened to military tactics, where leveraging terrain and local advantage is prioritized over sheer scale.
- This approach is driven by the belief that relationship banking and local market expertise are key to winning in the U.S. banking landscape.
- The company is investing heavily in sophisticated direct marketing to support rapid branch expansion and customer acquisition.
- Completed the acquisition of First Security, adding $280 million in deposits and $153 million in loans.
- System conversion and integration finalized by end of April, with all related costs included in expenses.
- The transaction enhanced commercial relationships and contributed to loan and deposit growth.
- Executed a $6.9 million pretax loss on the sale of $91.6 million securities as part of a strategic balance sheet repositioning.
- Reinvested $56.4 million in securities and used remaining proceeds for higher-yielding loans.
- Most securities sales occurred in June, indicating a tactical move to optimize the balance sheet.
- Quarterly loan balances increased by $76 million, or 7.6% annualized, with notable growth in C&I, multifamily, and agricultural production loans.
- Loan pipeline for the next 90 days is strong at $224 million, up from $163 million in March and $157 million a year ago.
- Despite strong pipeline, expected higher prepayment activity in the upcoming quarter, especially in nonowner-occupied CRE, may temper net loan growth.
Dafinchi