Third Quarter 2022 Earnings Conference Call
Corporate & Commercial Banking
Represents performance for Commercial Community Banking, Corporate & Investment Banking, and CRE & Grandbridge
Income Statement ($ MM)
Net interest income
Provision for credit losses
Noninterest income
Metrics
3Q22
Linked Qtr.
Change
Like Qtr.
Change
$278
$339
$1,623
(50)
(22)
214
604
(32)
(148)
-
Noninterest expense
795
14
(9)
Segment net income
1,164
202
(17)
Balance Sheet ($ B)
Average loans (1)
$167.8
$6.1
$17.3
Average deposits
146.1
(1.2)
(5.8)
Commentary
Net income of $1.2 billion, up 21% from the prior quarter, primarily driven by higher NII
and lower provision for loan losses offset by lower fees and higher expenses
NII increased 21% vs. 2Q22 as a result of higher funding credit on deposits and higher
average loan balances; partially offset by reduced PAA and PPP fees
-
Average loans up 4% vs. 2Q22 driven by growth across most CIB industry
verticals and product groups
Average deposits down 1% vs. 2Q22, primarily due to corporate tax payments
and outflows within CCB
Noninterest income decreased 5% vs. 2Q22, primarily driven by lower investment
banking and trading income
Noninterest expense increased $14 million driven by continued investment in talent
within CIB
(1) Excludes loans held for sale
TRUIST HH
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