- Common equity Tier 1 ratio increased, loan-to-deposit ratio remained flat at 81%, and tangible book value per common share grew over 3% to $35.13.
- Expenses increased modestly by $2.1 million due to investments in human capital and technology, maintaining an efficiency ratio of 45.4%.
- Net interest income increased by $9 million, while net interest margin decreased 4 basis points to 3.44%, influenced by deposit mix shifts and higher cash balances.
- Non-interest income rose by $3 million, driven by deposit service fees and lower credit valuation adjustment impact.
- Non-performing assets decreased 5%, and commercial classified loans declined 4%, indicating improving asset quality.
- Provision for credit losses decreased by $31 million to $47 million, with net charge-offs at $36 million and allowance for loan losses at $722 million (1.35% of loans).
- Return on tangible common equity was 18%, ROAA nearly 1.3%, with over 1% linked quarter growth in loans and deposits.
- Revenue grew 1.6% over the prior quarter, with net income to common shareholders up $31 million and EPS increasing to $1.52 from $1.30.
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Dafinchi