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Net charge-offs of $807 million increased $118 million from the fourth quarter. That increase was driven by credit card losses as higher late-stage delinquencies flowed through to charge-offs.
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2023 Q1
23 Apr 23
In our office book, $4 billion is scheduled to mature this year, another $6 billion in 2024, with the remainder spread over the following years.
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2023 Q1
23 Apr 23
our office portfolio was $19 billion, it's about 2% of our total loans
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2023 Q1
23 Apr 23
We have roughly $73 billion in commercial real estate loans outstanding, that's less than 7% of our loan book.
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2023 Q1
23 Apr 23
Provision expense was $931 million in Q1, and that included a $124 million reserve build. That's obviously less than the $403 million build we took in the fourth quarter, and it reflects modest loan growth and an ever so slightly improved macroeconomic outlook that, on a weighted basis, continues to include an unemployment rate still north of 5% as we end 2023.
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2023 Q1
23 Apr 23
the credit card net charge-off rate was 2.21% in this first quarter and that compares to 3.03% in the fourth quarter of '19 pre-pandemic
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2023 Q1
23 Apr 23
the deposit flows appear to have stabilized in March and we benefitted from some customer flows during the flight to safety during the quarter
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2023 Q1
23 Apr 23
They started increasing in February and then they bounced up a little bit.
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2023 Q1
23 Apr 23
This is the time they do move up, because of the tax returns and other things and year-end payments and stuff.
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2023 Q1
23 Apr 23
it leveled for the last six months and they moved up a little bit
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2023 Q1
23 Apr 23
on the consumer checking account balances in March, was that uptick in part a function of seasonality
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2023 Q1
23 Apr 23
it is a little softer in the first part of the April here
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2023 Q1
23 Apr 23
the average loans grew 7% year-over-year, driven by commercial loans and credit card growth
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2023 Q1
23 Apr 23
the same balance that we had in mid-October of 2022
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2023 Q1
23 Apr 23
despite people having said these consumers are spending down their money, it would be out of these balances in mid-2022 or the third quarter, they clearly are still sitting with a fair amount of money in account relative to pre-pandemic times.
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2023 Q1
23 Apr 23
fell down a little bit all the course of the year, and it's built back up in the first part of this year
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2023 Q1
23 Apr 23
cash in their accounts
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2023 Q1
23 Apr 23
over the course of last year, the total spending year-over-year increases have slowed down and I think that means that's a precursor to the economy being a little bit slower and that we're seeing and then frankly consumers being more careful in the use of the cash
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2023 Q1
23 Apr 23
loans grew at a much slower pace, partly driven by seasonal credit card paydowns after the fourth quarter holiday spending, and then commercial demand slowed in Q1 and we saw some paydowns by our wealth management clients as they lowered leverage as rates rose
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2023 Q1
23 Apr 23
After slowing in the back half of 2022 a bit, we saw the payments -- pace of payments picked back up in quarter one, especially in the latter parts of the quarter.
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2023 Q1
23 Apr 23