Reports Q1 NII $266.171M vs $284.994M last year. “The first quarter’s results reflect a very positive start to 2024,” said John Hairston, President & CEO. “Our efforts to reposition our balance sheet and create opportunities for NIM expansion continued this quarter. NIM expansion was supported primarily by the impact of last quarter’s bond portfolio restructure and good control of deposit costs. We were also pleased with the quarter’s performance in fees and expense management. Credit metrics continued to normalize, but we do not see any broad signs of weakening in any portfolio or geographic segment. We maintained a robust ACL to loans of 1.42% and we continued to grow capital this quarter. As we look forward to celebrating our 125th year and beyond, we believe we continue to position ourselves to effectively navigate any operating environment.”
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