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https://i-invdn-com.investing.com/news/LYNXNPEB8506G_M.jpgPeriod-end deposits and loans rose by $1.6 billion and $0.5 billion respectively, both up 6% on a year-to-date (YTD) basis. The company’s return on common equity (ROCE) was 6.3%, return on tangible common equity (ROTCE) at 8%, adjusted ROTCE 9.2%, while the common equity tier 1 ratio reached 11.1%.
The company’s financials were impacted by notable items including a net after-tax charge of $20 million. Additionally, an increase in provision expenses to $110 million due to a credit loss on a single relationship led to an uptick in the allowance for credit losses to loans ratio to 1.36%. Despite these challenges, CEO Bryan Jordan expressed confidence in the company’s resilience and future growth, anticipating long-term shareholder returns.
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