Q2 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$3.0B+44.8% YoY

Gross Profit

$1.9B63.7% margin

Operating Income

$775M25.8% margin

Net Income

$601M20.0% margin

EPS (Diluted)

$0.82

QoQ Revenue Growth

+5.3%

Cash Flow

Operating Cash Flow

$480M

Free Cash Flow

$345M

Stock-Based Comp.

$35M

Balance Sheet

Total Assets

$207.3B

Total Liabilities

$189.5B

Stockholders' Equity

$17.8B

Cash & Equivalents

$2.6B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$3.0B	$2.1B	+44.8%
Gross Profit	$1.9B	$1.8B	+8.1%
Operating Income	$775M	$724M	+7.0%
Net Income	$601M	$562M	+6.9%

Revenue Segments

Total interest income

$2.4B77%

Commercial banking revenue

$146M5%

Service charges on deposits

$144M5%

Wealth and asset management revenue

$143M5%

Card and processing revenue

$106M3%

Other noninterest income

$74M2%

Mortgage banking net revenue

$59M2%

Leasing business revenue

$47M2%

Securities gains (losses), net

$7M0%