Adjusted EPS of $0.21 is a penny higher than expectations. Among the extraordinary items is a transfer of troubled loans into the held-for-sale bin resulting in an after-tax charge of $46M.
Net interest income up 1% Q/Q with NIM up 2 bps to 3.26% (up 16 bps from a year ago).
Noninterest revenue of $526M up 6.2% from a year ago, with mortgage revenue off 23%.
Adjusted noninterest expense is roughly flat from a year ago.
Charge-offs and loan-loss provision comparisons are tricky thanks to the above-mentioned move.
Tier 1 capital ratio of 11.6% gains 10 basis points from last year.
RF -2.1% premarket