Investor Presentaiton
Q1-20
Interest Income
$
307.2 $
Interest Expense
(38.2)
Net Interest Income
$
269.0 $
Operating Non-Interest Income
16.3
Net Operating Revenue¹
$
285.3 $
Salaries and Employee Benefits
72.1
Deposit Costs
7.3
Other
42.5
Operating Non-Interest Expense¹
(121.9) $
Operating Pre-Provision Net Revenue¹ $
163.4 $
Provision for Credit Losses²
(51.2)
(Loss) Gain on Sales & Valuation of
Assets
(9.8)
Pre-Tax Income
102.4 $
Quarterly Consolidated Financial Results
Q1 2020 Highlights
•
•
•
Net Interest Income decreased
$3.0MM primarily as a result of
decreased yields on loans and one
less day in the quarter, partially offset
by lower rates on deposits and interest
expense on borrowings
Provision for Credit Losses increased
$47.2MM due to adoption of CECL
and emerging risks in the pandemic
crisis
Operating PPNR increased $4.7MM
primarily as a result of a decrease in
operating expenses
Loss on Sales and Valuation of Assets
consists of FMV losses of $10.4MM on
Q4-19
Q1-19
315.4 $
291.2
(43.4)
(43.8)
272.0 $
247.3
15.5
12.6
287.5 $
259.9
73.9
68.6
6.8
5.7
48.1
37.5
(128.8) $
(111.8)
158.7 $
148.1
(4.0)
(4.5)
(0.5)
2.7
154.3 $
146.3
Income Tax
(18.5)
(26.2)
(25.5)
Net Income
Diluted Shares
Earnings Per Share
84.0 $
128.1 $
120.8
equity securities and $0.9MM on HFS
loans, partially offset by a $1.5MM
gain on sale of OREO
101.7
102.1
104.5
.
$
0.83 $
1.25 $
1.16
Diluted shares decreased 1.7% as a
result of opportunistic share
Dollars in millions, except EPS
WA
repurchases
1) Refer to slide 31 for further discussion of Non-GAAP financial measures.
2) Upon adoption of CECL on January 1, 2020, Provision for Credit Losses has been modified to also include amounts related to unfunded loan commitments and
investment securities. Prior period amounts have been restated to conform to the current presentation.
22View entire presentation