Cost ManagementFunding costs are projected to decline by 20 to 25 basis points, with expectations of a rate cut and strategic actions to drive lower interest expenses.
Expense ReductionFDIC expense is expected to trend down to $10 to $12 million by the fourth quarter of 2024, significantly decreasing from $21 million this quarter.
Financial PerformanceBANC completed the sale of $1.95 billion of Civic loans at a price of 98% of UPB, freeing up $100 million of Tier 1 capital.