Q1 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$2.9B+50.3% YoY

Gross Profit

$2.0B69.8% margin

Operating Income

$718M25.2% margin

Net Income

$558M19.6% margin

EPS (Diluted)

$0.78

QoQ Revenue Growth

+4.3%

Cash Flow

Operating Cash Flow

$1.3B

Free Cash Flow

$1.2B

Stock-Based Comp.

$76M

Balance Sheet

Total Assets

$208.7B

Total Liabilities

$190.3B

Stockholders' Equity

$18.4B

Cash & Equivalents

$2.8B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$2.9B	$1.9B	+50.3%
Gross Profit	$2.0B	$1.8B	+13.3%
Operating Income	$718M	$612M	+17.3%
Net Income	$558M	$494M	+13.0%

Revenue Segments

Total interest income

$2.2B76%

Commercial banking revenue

$161M6%

Wealth and asset management revenue

$146M5%

Service charges on deposits

$137M5%

Card and processing revenue

$100M3%

Mortgage banking net revenue

$69M2%

Leasing business revenue

$57M2%

Other noninterest income

$22M1%

Securities gains (losses), net

$4M0%