Strong Loan Growth
Average loans grew by 11.8% to $20.1 billion in the third quarter compared to last year, with significant growth in consumer loans at 21% year-over-year.
Expansion Success
The company's expansion efforts in Houston, Dallas, and Austin have been successful, achieving 118% of the new household goal and substantial deposit and loan growth.
Improvement in Problem Loans
Total problem loans decreased by 15% from the previous quarter, showing improvement in credit quality.
Net Interest Margin Increase
Net interest margin increased to 3.56%, up from 3.54% last quarter, driven by higher volumes and yields on loans.
Strong Consumer Growth
The company added over 7,300 net new checking households, with consumer deposits increasing by 2.5% year-over-year.