Solid Earnings and Financial Metrics
Earnings are up, ROA is 82 basis points (an improvement over last quarter), ROE is 9.5%, and EPS is $0.95, beating the consensus of $0.88. Margin reached 3% a quarter earlier than expected.
Controlled Expenses and Capital Growth
Expenses are controlled, and capital continues to grow. CET1 is at 12.5%, and tangible book value per share is $39.27. The buyback strategy is more opportunistic due to market volatility.
Deposit and Loan Growth
$1.2 billion in non-brokered deposit growth over the last twelve months, and mortgage warehouse grew by $83 million in the quarter.
Noninterest Income Growth
Noninterest income is up 24% year over year, excluding lease financing, due to growth in commercial fee businesses.
Optimism in Business Environment
Strong pipelines in commercial and real estate teams, with business sentiment optimistic across various segments.