Third Quarter 2022 Earnings Conference Call
Net interest income & net interest margin
5-Quarter Trend
-
$3,261
$3,267
$3,209
$3,435
$204
$3,783
$113
$3,670
$255
$237
$210
$3,231
$3,006
$3,030
$2,999
3.12%
2.89%
2.81%
2.76%
2.76%
3.02%
2.72%
2.58%
2.55%
2.57%
3Q21
4Q21
1Q22
2Q22
3Q22
Core net interest income TE ($ MM)
Purchase accounting accretion ($ MM)
Reported NIM (%)
Core NIM (%)
1 See non-GAAP reconciliations in the appendix
-
vs. Prior Quarter
Net interest income increased 10% as a result of higher short-term interest rates
and strong loan growth (alongside well-controlled deposit costs), partially offset
by lower PAA
Core net interest income increased 14%
Reported NIM and core NIM expanded 23 and 30 bps, respectively, as a result
of higher short-term interest rates (alongside well-controlled deposit costs)
-
PAA contribution declined by 7 bps
vs. Prior Year
Net interest income up 16% as a result of strong loan growth, higher market
interest rates (alongside well-controlled deposit costs), and solid deposit growth;
partially offset by lower PAA and PPP revenue
Reported NIM up 31 bps YoY as core NIM expansion of 44 bps more than offset
13 bps decline in PAA contribution
-
Core NIM expansion driven by higher market interest rates coupled with
well-controlled deposit costs
TRUIST HH
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