Average loans and leases increased $600 million to $135.4 billion, with growth in consumer and residential mortgage loans offsetting declines in CRE balances.
CET1 ratio declined to 10.98% from 11.5% due to share repurchases and capital distributions but remains strong.
Diluted GAAP EPS was $4.24, up from $3.32 in the prior quarter, with net income of $116 million compared to $584 million in the linked quarter.
Net charge-offs were $108 million or 32 basis points, below full-year expectations, with criticized loans declining by $1 billion or 11%.
Net interest income was $1.72 billion, up 1% from the prior quarter, with a net interest margin of 3.62%, down 4 basis points due to premium amortization and higher funding costs.
Net operating income was $724 million, with diluted net operating EPS of $4.28, up from $3.38 in the prior quarter.
Non-interest expenses decreased $79 million to $1.34 billion, resulting in an efficiency ratio of 55.2%, improved from 60.5% in the prior quarter.
Non-interest income was $683 million, up from $611 million, driven by mortgage banking, trust income, and other revenues.
Dafinchi