Shares declined 1.2% following the quarter as investors digested solid loan and deposit growth offset by cautious capital deployment and a lack of meaningful margin expansion, signaling tempered enthusiasm despite management's confidence.
- Net income was $171 million, or $0.29 per diluted share; adjusted net income was $173 million, or $0.30 per diluted share.
- Adjusted pre-provision net revenue increased 6% sequentially, reaching 1.64% of average assets—the highest since Q4 2022.
- Direct customer deposits grew $1.1 billion, including $300 million in noninterest-bearing balances; deposit costs remained stable and well below year-ago levels.
- Loan growth was broad-based, focused on C&I and owner-occupied commercial real estate, supported by market diversification efforts.
- Share repurchases slowed to $81 million due to exceptional loan growth, reflecting management’s cautious capital deployment in balancing growth and returns.
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