Record Fee Revenue and Growth in Loans and Deposits
Record fee revenues and accelerated growth of loans and deposits with average deposits increasing by $9.7 billion or 6.5% and average loan balances by $7 billion or 5.7% year-over-year.
Strong Financial Performance Metrics
Earnings per common share of $0.34, Return on Tangible Common Equity at 16.4%, and CET1 ended the quarter at 10.5%, with a 30 basis point increase from last year.
Exceptional Growth in Capital Markets and Wealth Management
Capital Markets set a new quarterly record for revenue at $120 million, a 74% increase from a year ago. Wealth management fees increased by 8%, and AUM grew by 16%.
Consistent Growth in Payments Segment
Payments saw 8% growth year-over-year in the fourth quarter with a 16% increase in commercial payment revenues.
Positive Loan and Deposit Outlook for 2025
Expectation of robust loan growth between 5% and 7% and deposit growth between 3% and 5% for the full year 2025.