Q4 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$3.3B+20.6% YoY

Gross Profit

$2.0B61.0% margin

Operating Income

$650M19.7% margin

Net Income

$530M16.1% margin

EPS (Diluted)

$0.72

QoQ Revenue Growth

+3.9%

Cash Flow

Operating Cash Flow

$2.1B

Free Cash Flow

$1.9B

Stock-Based Comp.

$28M

Balance Sheet

Total Assets

$214.6B

Total Liabilities

$195.4B

Stockholders' Equity

$19.2B

Cash & Equivalents

$3.1B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$3.3B	$2.7B	+20.6%
Gross Profit	$2.0B	$2.1B	-2.1%
Operating Income	$650M	$914M	-28.9%
Net Income	$530M	$737M	-28.1%

Revenue Segments

Total interest income

$2.6B78%

Commercial banking revenue

$163M5%

Wealth and asset management revenue

$147M4%

Service charges on deposits

$147M4%

Card and processing revenue

$106M3%

Mortgage banking net revenue

$65M2%

Other noninterest income

$56M2%

Leasing business revenue

$46M1%

Securities gains (losses), net

$7M0%