Thanks, to and XX.X% was year-over-year equity, common morning, Further We of for highlights for at first GAAP adjusted adjusted revenue items. notable X Return Slide per good EPS earnings tangible million. our expanded Pre-provision or adjusting Steve. net XX.X%. the And of quarter, common AOCI, $X.XX, was provides XX.X%. everyone. ROTCE reported came results. ROTCE $XXX share of for $X.XX. XX% quarter in on ROTCE
and Loan balances Credit X.X%. quality remains losses the allowance prior strong, loans robust, quarter. billion of available over increased total liquidity continued a coverage from deposits peer to $XX remains of coverage billion basis credit of a leading XXX%. XX points by $X.X representing charge-offs Liquidity for of uninsured of grow, net with as with
primarily components X. Slide increased to well billion, tied banking prior driven by seasonality, growth loan to contributed Corporate financed in normalization levels, dealers. continued and million. telecom. Auto banking businesses $XXX loans, increased shipments which $XX Average floorplan of X.X% $XXX higher normalization, quarter. growth specialty dealer healthcare Turning growth equipment and commercial $X.X also this distribution increased tech million Business as the by increased $XXX included inventory mid-corp, million, million. increased continued with million. from of of Primary with by which balances of driven commercial spring as arriving and by balances assets Other X.X% or quarter-over-quarter to finance, $XXX
auto which led be $XXX offsetting were million. growth categories Partially which In balances, and this consumer, a growth by other declined million. million. mortgage including RV declined All equity $XXX Marine home to by increased $XXX by residential collective by continued
Turning to Slide X.
billion average We X.X%. more $X.X were or lower by continued driven higher primarily in to which growth balances. Balances year-over-year $XXX offset the by a average consumer, basis, deliver deposits quarter. increased On first by than million, commercial deposit
more Turning Huntington's franchise. I to Slide to want share X. deposit details behind
deposits represents a insured of of base at Our QX. XX% as percentage leading deposit
base $XX,XXX. consumer Our of representing and with half deposit highly is deposits the consumer balance diversified total being over deposits our average
is Complementing diversified our the and deposit deposits base of our XX. Slide time. growth to Turning over stability
During growth deposit the consistently was Through median. last of rates we cumulative points backdrop quantitative delivered levels year-end rising XXXX, the deposit peer nearly tightening. X despite peer well X.X%, and growth than year, above better percentage
course of the were Over at $XXX balances stable average QX, monthly deposit billion. approximately
lower, for in Within deposits, expected balances commercial row. have seasonality. a months consumer modestly with were increased balances Total consistent four
customers off-balance sheet addition our in March, to seasonality, incrementally During also commercial solutions. utilized liquidity
Turning to Slide XX.
sheet well that customer have sophisticated We to comprises deposit as balance on alternatives. approach off-balance management liquidity sheet both products a as
invested the past have out these and allow or years, sheet solutions investment solutions non-operational bank liquidity customer four with substantially primary our to on enhanced funds. utilizing sheet to we for manage our off-balance overall managing The build ensure operating to deposits us relationship full solutions the needs. and liquidity we're Over customers' balance
the industry. intentionally liquidity. Over the to XXXX, less fewer resulted and well surge course deposits to coming XXXX commercial in as compared leveraged of our sheet sheet customers' on off-balance these during excess runoff we order solutions XXXX This support in deposit as
balance our Commercial off-balance On basis, and sheet segment XX%. liquidity XX% increased on increased balances sheet Banking a our deposits year-over-year
its customers. accounts were on able a while primary customers showed again balances We yet treasuries maintain balance operating of deposit for and other amount moving to those and modest we value our saw approach into this March, both sheet. During Huntington our products,
our deposit in total into was that Commercial result balances was end shifts the approximately normal the of to change solutions. X March QX, half remainder seasonality, of delta Of between and we mainly off-balance the segment and the estimate attributable the sheet
weeks The April. well of have bottom these two March returned On-balance sheet X as grow. to as first level continues deposits sheet table highlights in the to and the off-balance movements trends
to Turning XX. Slide
robust. is capacity liquidity Our
the and and liquidity, Federal $XX the Reserve Our capacity borrowing respectively, end at two of primary billion, represented billion FHLB and sources QX. at of cash $XX
borrowing part to we of available increased represented available And deposits, quarter-end, our of liquidity seek this of to XX, billion. and our April a coverage. liquidity contingent total XXX% management, of total leading continually cash capacity as At capacity. uninsured borrowing As pool peer ongoing $XX maximize
On to XX. Slide
to excluding lower points impact $XXX $XX or points from decreased costs. from basis net and interest net from downrate For included from a accretion. points free prior points decreased Net or interest due GAAP long-term quarter funds, first spreads, basis negative program million XX $X.XXX count NII net X% billion cash X points accelerated basis to funding million lower in interest and the driven margin basis substantive income basis NIM The on included hedging our by reduction levels. NIM and basis XX GAAP margin. the of Year-over-year, lower a by on X core carry from the increased quarter, interest X day and XX%. marginally It decreased basis, higher mix also
costs deposit of management disciplined ongoing funding. our highlights XX Slide and
was For the our of beta current XX%. total to cycle cost on date, deposits
of deposit expect rate cycle. to As we higher we've the from continue trend here course rates the to noted, over
Given at expect the margin, trajectory. do recent environment, a steeper market near we the term
to Turning XX. Slide
hedging continually well is diversified. dynamic, Our optimized and program
to are scenarios. protect and objectives to in capital up-rate down-rate protect in NIM Our scenarios
added quarter, mind. with to these portfolio hedge the we During of the in first both objectives
capital swaptions. sensitivity. were to billion in quarter, we $X.X On pay front, asset Throughout additional billion protection the added the sheet pay fixed $X.X benefit deliberate starting balance managing we the fixed in forward in swaps and from
to near-term We as also risks cost the our rate the well manage program. over as downside the of position to possible to hedge term incrementally added actions longer took optimize
a net $XXX million billion received terminated spreads. of of entered fixed executed During $X.X floor into of the we swaps billion $X quarter, swaps, and
the we've rates in corridor if as protect we to is upside before, downside our higher possible for a tight intention as maintain longer. and As as potential noted stay NIM manage
Turning XX. to Slide
portfolio from yields curve as the of inverted another the portfolio, securities the strategy of duration exposures protect a reported We add reinvestment liquidity profile From as yields the quarter-over-quarter. capital. On to perspective, continue the to benefit enhance hedges from portfolio. yield to benefited to allocation up we our well step shorter we further and saw to in expect higher
and the interest that moved year-end, as of AFS will at end both note than You value were in lower the market marks portfolios, March sequentially. fair rates HTM lower
shown protect hedges, mark positive capital. have pay we intended Importantly, fair also our fixed are million the to which value total $XXX from
the to plan the last on Slide XX. services $XX up business from retirement quarter. income our during on the include $XX Moving gain million, of sale million $XXX million quarter. results Non-interest These was
the driven $XXX guidance Excluding early provided revenues of that somewhat than we lower in lower was March, This QX. at income by capital the non-interest disruptions given was the gain, markets end adjusted result million.
quarter fee revenues. generally low a for is first The seasonal
QX, low focus management. excluding capital As of see year, markets, in our noted fees the the of for areas to strategic key performance driven over sale, course we underlying being wealth the by and we've solid the previously, RPS and payments grow point
lower by GAAP compensation. Slide expense driven growth expenses XX. level driven proactively incentives operating a items, core increased a personnel reduced decreased taken $X primarily notable last by have leverage several to as of for expense, of revenue deliver orient We're managing $XX order on in by self-fund and Adjusted Moving and noninterest result low investments. million. expense and strategic expenses over positive quarters to to to the million, actions
Tier has ratio of X.X%. position. to quarters. capital resulted in our OCI to an X for Tier recaps sequentially X.XX% XX Common equity Slide three increased equity X common CETX and increased impacts adjusted
capital As reminder, regulatory reported in OCI framework does impacts a calculation. not the include capital the
of Our Adjusting we was basis reduced equity the ratio our basis XX X.X%. XX TCE points. the higher end TCE, at ratio which ratio, cash for TCE increased holding Note balances X.XX%. AOCI, common were points tangible or by to that QX,
increased by per book the $X.XX, $X.XX. AOCI, the value for for quarter Adjusting increased Tangible to past has share book from quarters. increased and to X% tangible prior value four
range end year, priority expanding top maintaining over strategy in result balance Our dynamic growth. while to We capital of year. course XXXX We the of approach environment. to to for end the the the of of XX% grow X% capital is operating to prudent fund CETX the given loan top high-return this our a our the will believe management the intend by
the to Based XXXX. on repurchase program our expectation utilize do during expect not growth, share for we continued loan
to Turning XX. Slide
XX, loss plus absorption and in peer total On capital us Slide group quartile very credit reserves perform capacity. well. quality is gives continues to Our top the substantial
points were net charge-offs prior mentioned, basis points normalize. continue XX This quarter. the for basis charge-offs than from and last quarter to As by as was XX basis the year X higher points up
X.X% reduced Allowance at loans. consecutive quarter from assets credit and was for Non-performing seven flat the have for previous losses quarters. of total declined
XX. Turning to Slide
is and is property We our well multifamily have exposures. no of with loans disclosures This and in XX% of estate the provided are portfolio peer at industrial. real line the on group commercial incremental balances. with The types total diversified majority outsized
CRE our our with total the at and comprises approach Over peers. to have multi-tenant portfolio X%. we properties. in CRE rigorous client majority X% to office the a book are last credit two slower years, grown on the selection. is CRE total and remain loans, relative our industry of than portfolio less We is Reserve the pace and CRE Total office suburban and coverage conservative X%
turn our Let's on to XX. XXXX Slide outlook
have discussed, we economic develop multiple financial performance action plans. management to we As project potential scenarios analyze and
current in our environment dynamic as execute strategies. the remain on also We we
Our a on scenario the is guidance baseline anchored that by economic informed outlook. is consensus
Fed rest have also We low higher the to end where range level as a our of curve approximately higher year. guidance end of with the rates bounded the end, forward the scenarios, the remaining funds of rate longer over using of on based the one interest at today's March on for at are
be an and continues with basis. by And X% in growth before, we be loans, growth between average growth led outlook On more to commercial as consumer. to expect on range X% modest our this
the we of growth middle As higher range. were that to trending we to entered the year, portion
the Given half core our grow On range the the returns market be top deposits our acquiring focus expect disruption and lower of strategy we of on in still range. to to and average to primary lower are now with this X% expect highest slightly narrowing bank the optimizing midpoint a we on We're deepening capital, growth by of loan deposits, our and guided relationships. between X%. for end incremental and outlook
relatively growth be less consumer-led growth. from expect to we primarily However, now with the composition commercial deposit of here,
the fees expected go-forward Net lower flat income the in to lower full core higher expected updated modestly on X%. costs. is to includes growth X%. slightly driven now increase sale. guidance X% between expected by loan down funding income markets growth business This and and impact to RPS is interest reflects marginally is The capital Non-interest of year be a and basis
growing year, expect we noted, the Management. capital over the of and payments low be course As to QX the for by Wealth point markets, fees, led
On the a very at capacity optimization, initiatives, the growth organizational ongoing key to expenses, program core growth our such voluntary Accelerate, posture as low initiatives. we Operation from retirement expense with in the self-fund realignment, are to benefiting managing our proactively and underlying keep level. We're efficiency sustained investment branch a providing
growth actions in to a incrementally are the Given we somewhat lower reduce revenue outlook, taking XXXX. expense
of the X% expect full incremental between we the full core increased and and year, Torana growth insurance the For Capstone now expense expenses from and X%, the run-rate expense. year plus FDIC
revenues, operating our to positive Overall, low expected support of is expense growth, year coupled with leverage. expanded another
We continue net XX will of range to XX on be points. of charge-offs the low end through-the-cycle to basis long-term expect our
Slide Finally, XX. turning to
at environment. As Steve, an foundation prepared over created has institution you the decade Huntington we from have this is for built heard the well that last
credit robust deposit We will growing our in base. of disciplined we're leverage remain on We're strength core our and the maintaining capital focused posture, strategy. our We liquidity. executing and
to to opportunistically on and franchise done outperform have build be we positions of growth. seize pockets Huntington the work The to ready
long-term our dynamic continue for we We management to as disciplined generate approach shareholders. our value will and remain in
remarks we Q&A. Tim, With will prepared and over that, conclude to move our you. to
