Reports Q1 (Mar) earnings of $0.84 per share, $0.09 better than the Capital IQ Consensus of $0.75; revenues rose 5.4% year/year to $2.1 bln vs the $2.05 bln Capital IQ Consensus.
Net interest margin was 3.04% in the current quarter, up 6 basis points and 21 basis points compared to the prior quarter and first quarter of 2015, respectively.
Average performing loans were $137.6 bln for the current quarter, a 2% increase over the prior quarter and a 4% increase over the first quarter of 2015.
Total nonperforming assets were $1.0 bln at March 31, 2016, up $300 mln and $339 mln compared to the prior quarter and the first quarter of 2015, respectively. These increases were primarily due to downgrades of certain energy-related loans.
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