good and Bill, Thanks, everyone. morning,
diluted first billion per share. reported we $X.XX of $X.X income net As quarter or common you've seen,
Our and balance X is an basis. on on average is presented sheet Slide
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can $X.X grew billion XX% provision to X, recapture. you Slide fourth pre-tax of see the strong reflecting net pre-provision on a substantial quarter income compared As and earning
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of this performance in discuss detail. the drivers let's Now key more
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in know, a business our you portion investments. of this significant As funds ongoing program technology
forbearance. result loans a Total million primarily well $XXX at real Non-performing Consumer credit Our Net presented $XXX real Commercial X categories. COVID. residential period basis year. during first reduction to XX net in $XX $XXX delinquencies declined changes as million. compared of December total consumer of Consumer first improvement losses estate in driven by decreased credit these million to loans. of qualitative for non-performing or all lower of $XXX on outlook increased gross charge-offs loans in lower major $XXX release auto was XX. the of declined and allowance was which million, as representing a Slide XX related in by quarter. delinquencies of million our in same shows our delinquencies charge-offs home reserves XX economic billion, reserves $XX charge-offs decreased exiting due impacted compared $XXX performance. non-performing Commercial areas to and X million total, million reserves was or primarily of X.X% March by million partially million loans and loans or within XX%, credit $X.X Improvement decreased $X. balances. lower to our to $XX X% to In and Slide card billion declined the $XX decreased charge-offs of portfolio, points, and loan borrowers Portfolio $XX the CRE the quarter. residential by improved are particularly metrics credit reflect estate auto last And million million, our primarily for decline, by reflected by related leases activity million, commercial as loan $XXX decline equity linked and charge-offs. million loans million were increased portfolio million loans our $XX represented XX%. $XXX driven directly were the Annualized in X economic the portfolios. the offset XX basis of in a decrease points net by loan end our by net quarter quarter factors. $XX and
laid on of track Slide the XX, remain ability our want Notably, reported the that pre-close Fed of a to BBVA We're announced key the we've economy, the to In summary, the remain progress midyear the prerecession expectations during in to number deal. quarter. I objectives strong we all and throughout we financial In applications and have near to out objectives. achieve overall completing at for view made first GDP to time levels major towards for Turning acquisition to USA. current a funds filed acquisition the regulatory we sometime are highlight the and to close third rate XXXX. completed of the our our surpass zero regard PNC quarter confident our
Looking second quarter stable. expect loan we to Compared quarter XXXX, at average the XXXX. first the of be balances total to of
We X%. approximately NII to be expect up
fee approximately X% income to expect We to up be X%.
between $XXX income be Visa and $XXX million excluding We activity. non-interest expect other and to securities million net
between stable, $XXX to non-interest and total expense second to million. expect be $XXX net and quarter expect million be we We charge-offs
guidance, in benefits standalone we revenue do expenses. expect rate higher both a from PNC year to securities and Looking balances. increased expect stable at XXXX regard remain full environment and revenue year-over-year to We the
to year, remains However, but the of that a drag at growth is will seen, first not included be in the during some upside spot to XXXX. acknowledge loans our loan of average result, half continue through as and the a be exists in guidance. half second We least
from refinements that, acquisition and pending quarter, and million, for of And benefit to to integration with take to midyear net PNC's our Consistent close. with questions. assumptions. ready a pre-provision expectation we're Regarding the $XXX interest the year primarily BBVA costs last revenue this increasing are USA, Bill I by XXXX assumes driven $XXX to excludes rate million expectations your full
