for and to you Mark, the everyone Thanks, today. call thank joining
common $X.XX, quarter. interest year your the also were always, the we ended per had value $XXX second a up at solid reporting from support. As appreciate $X.XX, book year-over-year XX% ago net an of share a and ago increase. per X% Earnings year quarter quarter. We increase quarter, up million, of income Tangible share XX% from the
was and was on return increased tangible X% our year-over-year. ratios equity profitability Our our revenue as return assets on Total strong XX%, X.XX%. remain common
continue increase cyclical Average X% credit year-over-year, a to ratios near X% Overall fully consumer lows. growth commercial remained core remained loan we X% deposits. including as asset core loans. increased in in with strong year-over-year and increase as quality most increased loans fund Average a loans deposits X%
quarter through-the-cycle our XX first XX this a range charge-offs to earnings of declined conference to call, on below quarter basis As average the of back target end we guided level low net points. to the
volatility are As we and we we have the operating. some which problem previously, very loss levels loan at given expect low noted quarter-to-quarter
nonperforming assets, good. all Our loans remain ratios very and delinquencies criticized for
three, As with Huntington briefly a outlined on quartile creating shareholder and developed returns. vision regional of delivering strategies slide bank we through-the-cycle a high-performing top
We long-term investments to in business, and continue drive to growth. profitable meaningful customer around particularly organic our make experience,
of from focused both an investments in independent quarter, two with we digital awards to received the receive strategy our of This were J.D. confirmation U.S. surveys customer our the important Power, gold scores pleased experience technology highest in and standard the J.D. Huntington satisfaction the customer
Power online studies. XXXX banking and satisfaction mobile U.S. app
that center a skepticism with economy, customer client provides strategy our and to in believe and industry-leading but provide our Huntington regional remain this that evidence will keep we banks large banks expressed just some satisfaction. acquisition up be to keep our While money to the focused opportunity and the up able our technology-driven investments not technology
returns and adequate appropriate our allocate appetite. moderate-to-low to taking aggregate earning risk ensure prudently we consistent also We risk, capital are our with
we certain respect we took We met portion the with quarter, to also of overall longer from return and securities This no perspective management the a relationships balance and but better return. an interest deposit to portfolio. which our exited sheet and rate several repositioned risk actions high-cost position loans hurdles,
these minutes. actions in in discuss a will I detail few more
how are We are positioned. very pleased with we
long-term on our are that businesses performance the advantages we have will built future. financial to top We key in focused driving We our believe deliver and continue in for competitive quartile financial delivering shareholders. sustainable sustained, performance remain
our to prior our compared for expectations. illustrates Slide updated year XXXX four expectations full
change know, in our provided As previously no assuming expectations interest we you short-term rates.
provide to right our transitioning are quarter, implied this on provided side. column on expectations the curve, are the in based However, which the forward we
target Fed over their the rate the you. meeting adopt more we to will thought to the coming Fed internally in year, market next forecasting outlook rate cuts in as communicate at reduce week multiple the planning it externally likelihood high the expectations that for was rate and process Given we this additional as conservative well funds and interest our the expectations
provided column middle in an We the also have the unchanged slide. view on rate
two scenarios we forward. to not both plan you the quarter, rate can interest both the incremental steps provide so views provided see but going This between do
forward of remainder implied the intend based scenario. we XXXX, only rate to on the For provide expectations
changed not economy view call. earnings has Our the since last quarter's of
our to the view growth continue will we year. organic expect this constructive into have footprint, of We in a local translate which continued economies
markets debt what the the good in our volatility our performance, the our broader signaled positive. has regarding Businesses generally street remains from we remain strong. in markets customers concerns are pipelines While and hearing continue deliver local to commercial economy,
economic expansions constrain the while Businesses continue labor in are and investing to expenditures markets tight in our growth. footprint capital
customers finding openings commercial Our employees job is highest the their for Midwest biggest in The tell challenge. to that is the nation. continue the us rate
Ohio markets these our Across have at our Despite inflation, other the upbeat remain footprint, exports world a continued areas and shows headwinds and slowing data driving consumers businesses region. and the also disputes. particularly labor economy of strong have weathered these lower wage compensation headwinds, that also trade Some tariff of of levels. grow with to the ongoing in
the ending of XX months the rates XXXX the in unemployment months Huntington's May declined May of ending footprint XXXX, XX states. In X MSAs in of of XX largest and
saying continue the economy our unemployment since I XXXX. remain Additionally, consumer openings would most markets. summarize generally in bullish stayed that our our and confidence regions of highest by we in exceed footprint. levels in the at to levels Job
the on volatility cognizant lower. of of short-term that in here this stated not of economic occasions does we These we are optimism interest share do several are the I As to rates ultimately data Midwest. downturn. signs recent see global could have near-term not drive adjust Nonetheless, economic Fed market and what the seeing the we year, a
we not in recession communicated a we on outlook. the last earnings the near challenging call, term. steps a more We rate to foresee have interest prepare taken As for do
our core risk alignment headwinds. moderate-to-low However, long-term position and economic appetite power, us strong strategic our capital, to aggregate withstand earnings
designed consistent drive performance economic is more strategy Our to across cycles.
year our turn Let's revised expectations. to XXXX full
growth margin. reduced have expectations the sheet balance competitive balance our modestly operating from and We more sheet reflecting a the quarter optimization second environment efforts at the
the X% full X%. on and X% We X% expect the growing full We of growth deepening through and core to core in accounts relationships. customer remain range of particularly year average acquiring average deposits range loan growth checking year in deposit to focused
to basis, is GAAP -- X.XX% NIM We sorry, year range. full expect a full NIM X.X%. year XXXX revenue growth XXXX to X% be expected On X.XX% of to
and the includes This the impacts benefit negative from strategy the cost the reduction of hedging implemented of incremental the second quarter. in purchase in accounting we the anticipated
during Looking bottom of further out, that XXXX. second NIM our out the current half will modeling suggests
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As committed are operating our demonstrating you previously and we year. remain have told with to this positive actions, leverage delivering we
growth XXXX outlook expense the the in revenue reduced growth with moderated outlook. conjunction for have We
of of We the spending this planned to with reductions combination have with discretionary investments. repacing achieved a and
through-the-cycle We that X% Full points. to XX year target year will of XXXX to X.X%. XXXX expense basis full to expected increase is range anticipate noninterest our charge-offs remain net now XX average below
expectation remainder XX.X% the the highlights provides XXXX XX.X% is for range. the five second for Our of for the Slide rate year the tax the in effective quarter. to
tangible with $XXX share and income reflected along We increase common book of of double-digit per year growth common the earnings share increase. tangible quarter. at on common momentum an a Results tangible quarter per value $X.XX, of earnings million, ended strong XX% Return XX% with our share per in value was X% rates share year-over-year continuing assets common net equity, return XX% the common per ago equity reported year-over-year profitability XX%. return versus and ratios. earnings and in was improvement We recorded X.XX%, $X.XX, on up on book
in XX.X%, the Our quarter. quarter year was ago up for from XX.X% the ratio efficiency
peak technology. you year. ratio would again, in thoughtful And This investments efficiency first the and in continued increase the quarter for modest second colleagues we that reminded be reflects call quarter our the the
our the leverage. with consistent improvement we For modest ratio year, expect in full annual operating continue positive year-over-year driving to efficiency
billion to in as in a average increase or to year or Loan billion $X.X compared leases quarter. to Average the increase X% and and than $X.X six. slide increase ago the a $X increased entire now year-over-year more loans or earning X% billion including assets consumer loans $X.X X% loans. growth commercial Turning X% increased accounted for or billion
finance, dealer year ago banking. growth commercial loan X% of growth plan industrial growth. diversified middle grew over in and from past quarter year-over-year has the well been and the Average loans notable the asset C&I loan component banking, and corporate with largest our year market floor reflected
our good plan. levels average strategic that announced decline. manage new continue specialty lending around in XXXX Alternatively, to CRE portfolio estate continue also early the X% commercial actively We real reflecting we current loans see to part year-over-year with verticals a were our of traction as
unanticipated returns commercial ensure to anticipated both appropriate lending reflects strategic pay manage well as real and estate downs This our of as risk. tightening and on to capital
at $XXX renewal approximately efforts. as second sheet loans loan balance our part million of During our we commercial or quarter, the through of exited optimization sales
and growth FirstMerit in residential allowed opportunities. year-over-year. hurdles redeploy no the to increased the since centered of mortgage portfolios, reflecting parent marine residential loans XX% Average attractive RV businesses the mortgage more our return associated These acquisition. met and us the these exit into their expansion loan well-managed and longer funding Consumer loans remained X
in and for increased XX-state Average continue products. and for year-over-year. as agency-qualified totaled XX% quarter, second Average mortgage Originations $X.X the mortgages As we retained we sold specialty to and marine business. share down loans production year-over-year. typically the this do, auto traction market across RV generally mortgage XX% flat jumbo year-over-year and billion footprint we the were quarter gain loans
but a previously to we executing increased have we mentioned, that resulted that we are pricing has optimize lower in auto volumes, via a trade-off As revenue like. loan strategy production is pricing
the averaged New auto second points money during the up basis year yields originations from quarter, ago XX on our X.XX% quarter.
in to of X-year curve and RV/marine some increased year-to-date the come movements weeks, have Over under new money X- competition. pressure the past portion due the and in yields few yield auto the both the
XXXX. as utilized to and were portfolio cash down fund the securities run let off year-over-year we the during X% Finally, higher-yielding loans flow
part benefit securities quarter, points. as the to X efforts to approximately a late During securities short-term of $XXX of hedging securities million sold our in of the XX basis the billion $XXX XXXX the of approximately quarter, net reduce program, optimization sheet repurchased remixed at wholesale balance and funding, reliance we second related on we of million
mid-XXXX. were in average reflecting year-over-year CDs the up Average year-over-year deposits XX% certificates Turning noninterest-bearing quarter XX% first X% DDA deposit shift total interest-bearing Average year-over-year. consumer X% Average increased money promotional from market to increased deposits to decreased average growth grew X%. accounts DDA market year-over-year. away deposits core grew the of XXXX. total while consumer reflecting in Average Core during from primarily CD the deposits quarters ago initiatives slide X% the year flat year-over-year were seven. pricing of money X deposits demand deposits while
As relationships. we continue shown in we our XX increased consumer on as households that noninterest-bearing to appendix, year-over-year pleased are deepen very slide grow X% the deposits and
our noninterest-bearing shift products, see commercial interest DDA money to to primarily continue We and checking interest-bearing checking, from balances market. hybrid customers
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core funding focus our in a deposits. year-over-year noncore Importantly, on for reduction allowed XX% continued
margin runoff income to $XX We increase ago down X% average eight. X accounting compared X.XX% partially the quarter million and a saw and driven disciplined the of interest earning to to or accretion. continued result X% pricing by the second year benefit FTE interest in expansion purchase increased as points offset assets. versus rate basis quarter the deposit interest by of Moving of net XXXX net the slide asset primarily increases of
nine. slide to Moving
margin in in year Purchase points the basis net contributed points the core the interest was compared to accounting from year X ago ago X.XX%, up quarter. the basis quarter. basis X net current X the to quarter margin Our points accretion for second interest quarter
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earning to yields. Turning asset the
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implementation completed hedges. of incremental now substantially We the have
continue However, sheet other late we've environment, mix the also quarter, incremental overall to as XXXX. hedging the expect, remember will It's as the in interest since we balance factors fine-tune of cost and guidance important that program, second executed in hedging had you program the rate the our hedging should including to necessitate. the
XX. beta slide our to Slide peers. compared cycle-to-date to interest-bearing Turning XX deposit illustrates
remains deposit at beta Our XX%. low cumulative
CD have over would effectively XXXX some strategies communicating we We us core of believe serve that the been well three first utilized the time, consumer deposit over the quarters beta. of we front-loading
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X% a increase saw X% while peer the beta. cumulative average we increased group's in our cumulative beta quarter, This
and next competition date cuts despite expected has Overall, the rate commercial for much consumer as likely competition not was deposit quarter, elevated deposits second throughout to week. Fed retrenched yet as the
XX-month X-month and environment pricing our compared competitive promotional this a terms common rate promotional rate maintained to money as near-term outlook, in utilizing such shortened market Given the promotion a the pricing our and we've marketplace. discipline
sales We than mentioned also high-cost loan to commercial chose that rather fund I the for deposits. growth securities up earlier through paying
Looking quickly the strategies deposits highest-cost we next -- along customer to Fed next developed have as expected. our forward, to week down level the particularly react, cut rates year should
we source We $X detail that excess deposit needed income, for billion what LCR have of could in is unattractive. which funding XX as market provides on of approximately pricing also should use noninterest Slide securities the income million become a $XX on well from year primarily quarter. as ago Wisconsin year-over-year mark-to-market $X to sale retail increased due our of the noninterest as the branches XX% XX% economic increased million the Other gain on adjustment hedges. our
cash end, to as quarter we flow Subsequent economic redesignated hedges. the all hedges
quarter. seasonality basis, interest reflecting Mortgage quarter. On banking increased benefited higher quarter 'XX, beginning the also So market XQ flow the a reflecting XX% cash XXXX income of Capital spreads. secondary year hedges. during swaps primarily the lower XX% from ago Shockey linked were fourth a quarter be versus in and Hutchinson, up acquisition Erley floors will and as of fees primarily income market mortgage extent, rates and, banking in mortgage the the for lesser to all accounted
the X% noninterest year-over-year in the expense. components of XX provides growth Slide
mentioned technology reflecting primarily increasing we of of long-term these in lending hiring with earnings million expense we and to new XXXX last merit call, expense in plan as annual our colleagues as X% was the as bankers the the result well personnel related the compensation year-over-year that our continued seasonality well verticals in and increases. strategic actions. the of Personnel to increased from linked areas to $XX grant as adding year-over-year implementation our expense May Further normal initiatives. digital As experienced $XX increase noninterest on expense as quarter, coming million May a compensation incentive X/X of annual of expected
up other technology new basis and FDI by the ratios. the Slide increased processing strength and fourth ongoing increases, year of our the tax surcharge illustrates year-over-year investment Foundation Other The and data equity of $X continued increased on other property accounting XX% primarily discontinuation due services expense the to at the points costs. XX% standards reflecting XX% ended offsetting expense. the the ago of a expense XXXX X.XX%, Columbus the common decreased driven X million noninterest to Outside tangible in lease quarter. personal these quarter XX from deposit impact Partially ratio donation insurance capital quarter.
Tier quarter. ratio X.XX%, but The at equity linked quarter XX% basis up the ended X year-over-year common points down X
to the CETX quarters. last repurchased guideline We continue shares common XX% manage X% the over operating within operating the towards our end bias to million of with We a X XX.X range.
million $XXX XX.X we common shares capital stock second XXXX the XXXX quarter, of remaining repurchase per at the the an During of plan. representing $XX.XX authorization average share, million repurchased common in cost
last our dividend have third, priorities plan organic month, growth announced to reflects a dividend the priorities plan articulated XXXX including These second; $X.XX Last XXXX fund cash The repurchase we dividend to buybacks. capital a shares quarterly first; capital our million capital As also the share approved pursue X% changed. common the other all not next to and to October. uses capital new rate over support previously week, in and Board includes increase of the with X in authorization beginning that XXX the Board declared week per payable last quarters. to the the of up for
Rich to Rich? Let for with turn the the slide cover it quarter. credit me now trends to XX over
