Q3 provision for credit losses was $22M vs. $22M in the prior quarter and $17M in the same period last year. Q3 net charge offs of $18M were up vs. $11M in the prior quarter and $2M in the same period last year. “We continued to see steady improvements in customer acquisition, retention and satisfaction scores during the quarter, enabling us to grow core customer deposits by over $500M and decrease our reliance on non-customer funding sources,” said CEO Andy Harmening. “Our strategic initiatives have also enabled us to deliver another quarter of balanced, high-quality loan growth. While we feel well positioned today, we recognize that the banking environment continues to evolve, and we look forward to sharing more details about the second phase of our strategic plan later this quarter.”
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