Thank which I'll with you, net prior XX% year Michael, $X.X was reported financial In on quarter, up from summary quarter. of income we and X. good Slide everyone. results start billion, the the our morning,
loan charge and largely expected reserve favorable of And facility. a our from Lake $XX quarter. from litigation expansion revenue release, view growth, the the of a a There are one another unusual gain near losses Credit plateau second sale misclassification during million impacted $XXX penalties margin perform that noninterest growth. will with by which related XXXX. driven matter. and of loan for the These line revenue was several our period to the are settlement regulatory items were peak supporting included net the in in performance expectations, higher fundamental and Our to student million card offsetting the interest half continues Park
of about reported we EPS $XXX million have items, per and net of would approximately unusual income share. Excluding $X.XX
X. Slide on the review details beginning Let's
was margin net basis at quarter-over-quarter from by mix. points margin the up On sequentially. promotional the up expansion balance lower and Our driven a quarter XX basis, basis XX.XX%, prior XX interest primarily year points a ended card
its declined card XXXX X% at a normalize basis rate category to a during which the of being payment and X% promotion about result included rate to XX a sales is year-over-year in sequentially now Card XXX increased sales XXXX restaurants, receivable X% peak. early prior the contribution points about payment the quarter. anticipated, and due new to from above continues receivables As basis year year, for levels. declined points down compared a spending growth from Discover The to lower smaller is volume last accounts. large compared as were first
of influence relatively categories, trends the for sales stable. are Accounting promotional
reduced spend continue prudently X% tightened year-over-year. underwriting were evidenced originations. over most member with consumer, being conditions, XX% lower loans from were prior by In market cautious year affected. We down to income response loans to past period. we served modestly households see Personal which the Student card to has less year, up a the
mentioned, into Michael to our entered As agreement we student an portfolio. loan have sell
to balance We added timing, based the purchase end rates transaction formula that a the on a and XXXX. has depending expect is the The interest of to on by premium varies in X tranches other be closing price and completed the factors. principal
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average with has leading deposit deposit in to a modest pricing the quarter, Our rates of in on of pricing reduction disciplined led cycle. industry approach the down practice to the consistent parts in second our
result of revenue Discount lower a Looking as on and rewards increased income $XXX interchange or cost. $XX at Noninterest up million was X. million other revenue Slide XX%.
litigation XX points reflects decrease including year prior basis, sale. decline Our settlement period, The to the revenue the facility versus the an rewards basis due XXX basis was and income Other grew match. rate cash in noninterest back points adjusted unusual of lower XX%. quarter. a the On items, increased
expenses charge operating was XX% $XXX to were Moving expected driver to increase or significant for a Slide expenses of misclassification million this The year-over-year. up issue. regulatory on X. Total card most penalties the related
further amount. important have year-over-year. expenses note imposed by less this our that to for is increased It or charge, actual to are subject would penalties X% be than and this more may Adjusting discussions
or Compensation higher investments recovery to resources. $XX technology and in our categories. risk driven fees at due costs Looking management. increased increase major Professional XX%, in compliance by million and an business were XX%, up million primarily expense or $XX fees
with upside Our risk the excludes bias. management expenses figure expectation for related full This an for misclassification cards compliance costs. the in million and range $XXX remains year
Moving higher was quarter. to our quarter. points a perform points improvement credit the XX-plus card From our the basis than XXXX perspective, X on vintage. in line down prior down card, XX XXX performance basis In prior day continued. with vintage The basis rate prior Total year vintage Slide XXXX points delinquency versus and X. delinquency charge-offs continues to were the net X.XX%, from formation
from could peak our and broader there card not to into credit the actions various taken. we for this generally half both management we've losses of some outlook losses seasonality expect second look changed plateau we in variability and be This year, year. the As monthly has
on for the credit Slide to allowance Turning XX. losses
Our growth. by reserve reserve reflecting declined the support balances offset build from credit $XXX loan quarter, the $XX million release, prior loan reserve million student partially to a primarily
adjusting for unchanged rate after was largely over student X.X%, just reserve Our loans.
Looking at Slide XX.
by Our earnings Tier stock. per Slide was reserve core for bolstered XX.X%, XX. release. generation period points, dividend and the common We a equity cash declared of XXX $X.XX Concluding X basis quarterly of common on the share up
outlook our loan pending the XXXX revised and student impacts included have the having sale. We of
sale. the We are low prior billion loan be our loan Absent single $XX would our reflecting growth digits, be consistent to this, with growth year-over-year down view. roughly updating asset expectations
our sale, mix are XX.X%. which reflecting by X was This We by interest now balance to about anticipate lower XX NIM We to driven margin basis promotional card points. and increasing change the higher increases a factors. yields student loan net range XX.X%
loan Our operating line unchanged, the net the in guidance is inclusion student of charge-offs item. expense this notwithstanding
solid charge-offs to end consummating finally, points call to our to to from the generate To includes range. concludes remarks. compliance resolve summarize, capital case in X.X% And This we loans. not management expectations results, our planned the remain forward basis base over financial low remains turn impact X.X% our I'll net to operator. the continue at This the the efforts back and for look steadfast student our changed. of XX Our merger. have matters
