US regional bank reported record Q2 net income and adjusted EPS.
The company repurchased $107 million in common stock during the quarter.
Key details
Metric
Actual
Q2 adjusted EPS
$0.65
Q2 credit loss provision
$36.20 million
Result drivers
Commercial loan growth — The company said loan growth was driven by strong high-quality commercial loan production, with increases in both commercial and commercial real estate segments.
Net interest income — Higher net interest income was attributed to high-quality loan growth and stable core deposit pricing, partly offset by funding mix.
Noninterest income — Noninterest income rose due to higher fee income across all line items and a gain from pension plan settlement.
ONB•
