This article first appeared on GuruFocus.
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Net Income: $1.3 billion or $1.04 per share, including $0.02 per share of restructuring charges.
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Revenue Growth: Adjusted revenue increased 3.7% linked-quarter.
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Non-Interest Income: Increased 9.9% linked-quarter to over $1.5 billion.
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Loan Balances: Average loan balances increased 2.5% linked-quarter.
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Deposit Balances: Average deposits decreased $3.9 billion sequentially, or 1%.
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Net Interest Margin: Declined 1 basis point linked-quarter to 3.01%.
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Operating Leverage: 270 basis points of linked-quarter positive operating leverage.
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Asset Quality: Net charge-offs declined both linked-quarter and year-over-year.
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Capital Return: $1.2 billion returned to shareholders through dividends and repurchase of $500 million of common stock.
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ROTCE: Improved 130 basis points sequentially to 13.6%.
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Digital Transactions: Increased 7%…
