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STRONG GROWTH IN C&I LENDING AS TOTAL C&I LOANS INCREASED $1.4 BILLION OR 9% COMPARED TO PRIOR QUARTER, WITH BROAD-BASED GROWTH CORE DEPOSITS, EXCLUDING BROKERED, INCREASED $1.1 BILLION OR 2% QUARTER-OVER-QUARTER, WHILE OVERALL DEPOSITS GREW $832 MILLION OR 1% CREDIT QUALITY CONTINUES TO IMPROVE AS NON-ACCRUAL LOANS DECLINED 11% AND CRITICIZED/CLASSIFIED LOANS DECLINED 3% COMPARED TO PRIOR QUARTER CRE EXPOSURE DECLINES FURTHER WITH CRE PAR PAYOFFS OF $1.1 BILLION, INCLUDING 42% IN SUBSTANDARD AND A CRE CONCENTRATION RATIO OF 367% COMPARED TO 381% IN PRIOR QUARTER NET INTEREST MARGIN OF 2.15%, UP 1 BASIS POINT VERSUS PRIOR QUARTER; UP 10 BASIS POINTS AS ADJUSTED; COST OF FUNDS CONTINUE TO TREND LOWER STRONG EXPENSE MANAGEMENT WITH OPERATING EXPENSES DOWN 5% COMPARED TO PRIOR QUARTER CET1 CAPITAL RATIO INCREASED TO OVER 13%,... Read more
