What are you modeling in? Let me first talk about the leverage finance thing. Hope everyone had a good weekend. And then sales and trading, your guess is as good as ours. And the continued digitization allows us to continue to be efficient, effective and frankly, plow the money saved back in the marketing back into more technology to make us even more effective and then into people where we need them. You can see some of the legacy loans we were able to sell in prior quarters. And we believe that really for three reasons. You mentioned the securities roll-off that you've been able to, you know, mix shift toward a higher yield over time. BANK OF AMERICA CORPORATION-18.90%: 289 449: INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-13.18%: You mentioned modest. And so as you see so many fee lines, same with [NSS FOD] by doing what we've done the attrition rate has obviously dropped to the floor and you're seeing more production of that accounts there. We're going to have to price competitively for deposits in an environment where obviously market-based. And by the way, you know, the profit margins once back up to 30% and driving through. And in commercial, certainly, we probably held up back just a touch. And as Brian noted earlier, we're watching closely the early-stage card delinquencies as they begin to increase modestly. And on the mortgages, it's probably seven to eight. Those continued investments over the past several years in our people, tools and resources for our customers and teammates, as well as our new and renovated financial centers have allowed us to continually enhance the customer experience and fuel organic growth as we drive responsible growth. So a lot of that in our preferred rewards fee structure, which reward structure, which goes across all products in our company, if you even just look at the preferred segment and why deposit pricing and the stability of our accounts is different than peers in the last cycle, most of what happens at this time is that, that reward structure cements the customer relationship. Thanks. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. So, a lot of that in our preferred rewards fee structure, which -- the rewards structure, which goes across all products in our company, you k now, if you even just look at the preferred segment and why deposit pricing and the stability of our accounts is different than peers did last cycle, mostly what happens this time, is that, you know, that reward structure cements a customer relationship. And the teams did a nice job of holding onto our No. Market Data powered by QuoteMedia. These are core and foundational elements of the customers' financial activities. So if you look at Slide 4, you can see some points about the overall health that demonstrate what's going on in the customer base. Bank of America probably will say earnings per share (EPS) dropped by 8.7% to 78 cents, while revenue grew by a modest 3.3% to $23.5 billion, according to an average estimate from Visible Alpha. And we'll continue those patterns. In the third quarter alone, we added more than 400,000 plus net new consumer checking accounts. ET, Warren Buffett Owns a Lot of Stocks -- Here's the One I'm Most Excited About, 2 Bank Stocks to Buy Before the Bear Market Is Over, WhyBank of America Stock Was Falling Today, 3 Stocks You Can Buy Today to Take Advantage of Robust Consumer Spending. Taking out the litigation, it would have been 61%. Just, Alastair, just to give a sense of -- you know, it's a 5% unemployment like now and then continues all the way through next year. Gerard, I think if you went back to our supplement over the course of the past 10 years, you're going to find these numbers are so low. So there's a lot that goes into RWAs, but it's a $1 billion here, $1 billion there. When you look at those Global Markets or investment banking results, they include anything we are doing in investment banking. Should You Buy the 5 Highest-Paying Dividend Stocks in the S&P 500? Presentation. And you see more production of that accounts there. Bank of America's third-quarter results topped expectations. Year-to-date spending of 3.1 trillion through September is up 12% compared to last year. And so I wouldn't expect exactly the numbers, but if you saw we built a bunch of reserves with a 15% unemployment. I wanted to ask about the assumptions and maybe just your outlook around loan growth and what you're seeing in the economy, what you expect from loan growth. So Erika, we continue to invest heavily along multiple dimensions, people, technology restructuring all the physical plant, marketing. . And the first two weeks of October show that strength is still growing at 10%. High Brian. I know how you're thinking about growth there. Yeah. Well, on the loan side, I'd say we talked about at the beginning of the year that we thought loans would be high single digits, and we've slightly outperformed that, obviously. Bank of America Corp. ( BAC) has seen its earnings recover in recent quarters after they plunged in 2020 when the economy pulled back due to the COVID-19 pandemic. The net charge-offs of $520 million declined $51 million from the second quarter. We delivered our fifth straight quarter of operating leverage. Your headcount is not growing a whole lot. And you can see some of that in the stress test. I'd also remind you that GTS benefits greatly from the NII off of deposits that more than offsets this. Focusing on FTE, net interest income increased $2.7 billion from Q3 '21 or 24%, and that's driven by benefits from higher interest rates, including lower premium amortization and from loan growth. Second, we're anticipating -- loans growth is still pretty good at this stage. That we just marked through our numbers. But we have on stress test to test it to make sure and you can see the Fed stress tests in the adverse case, you can see these numbers, frankly, which I don't think would ever materialize given what you do in a period of time between then and there, but that gives you some sense if you look at those. Reported EPS is $0.11, expectations were $0.04. But can you kind of flip the script here and lean into certain businesses? Focusing on FTE, net interest income increased 2.7 billion from Q3 '21, or 24%. Every business segment delivered operating leverage. We're putting more and more into relationship management. Is that right? We now expect to generate approximately . And with all the great benefits and talented people already at this company and with our great brand, it highlights that Bank of America is a great place to work. And I guess, very much related, you've just touched on it a little bit. The Consumer Bank earned $3.1 billion on good organic growth and delivered its sixth consecutive quarter of operating leverage while we continued heavy investments for the future. So, is there a little bit of movement? Additionally, service charges moved lower for two reasons. Our headcount this quarter increased by 3,500. So, expectation for that to persist, meaning flat expenses year on year as we go into '23. And the digitization of all the operational process in the company is what you see on Slide 22 on the Consumer side. And that allows you -- those are zero or very low rates because the amount of services that come around them. We grew revenue 8% year-over-year. We run those through the P&L every week, as you know. And they are very stable and important customer base as all our customer bases are. If I could just clarify the discussion with Erika around expenses. If you look at small business originations are going up. Shares have added about 8.1% in that time frame, outperforming the S&P 500. I mean, revenue is up $2 billion, expenses up zero. So we're letting that NII pull through, which then drives those numbers in. We'll go next to Mike Mayo with Wells Fargo. Welcome to the Pan American Silver third quarter 2022 results conference call. Given we just put up 1.3 billion in Q3 and that outperformance, and refreshing our expectation for Q4 at 1.25 billion, we're now seeing that aggregate quarterly improvement won't be the 2 billion we initially thought. So, we're anticipating that will keep growing on the loan side. So I think, Mike, that's a lot of questions, but I'll try to sort out a little bit starting with the last. Adjusting for the FX impact and loan sales, loan growth from Q2 was closer to the industry's growth rate. | 3 december 2022 We continue to -- they didn't vary any benefits during that we would increase our childcare benefit to $275 per month per child, increased our tuition reimbursement and did it in advance. We have provided an update in the appendix as to the credit transformation of our loan portfolio and a few other consumer credit slides to help illustrate the quality of our portfolio under years of responsible growth. Your line is open. Yes. Okay. Our 7% revenue growth is quite healthy, given the more than 40% decline in investment banking fees, coupled with lower leasing revenue. So, it's not big, but it's important for us just to make progress in different areas. And the provision increase reflected reserve builds this period, mostly for card growth versus a reserve release in the third quarter of '21. With regard to regulatory capital, our supplemental leverage ratio increased to 5.8% versus our minimum requirement of 5%, which still leaves plenty of capacity for balance sheet growth and our TLAC ratio remains comfortably above our requirements. So, all of that -- you know, that's a few quarters now in a row where that pattern is continuing. At this time, all participants are in a listen-only mode. The higher-tiered preferred deposit products represent a little more than 20% of the mix of deposits, and they're moving largely in line with short-term rates, while the other 80% or so deposit products are paying much lower rates. And we're proud of our team's discipline around expense particularly in this inflationary environment, while at the same time, we're modestly increasing our level of investment in the company's future and our growth. and that's what drives it. This was coupled with a significant increase in net interest income. We also continued our investment in financial centers, opening another 16 in the quarter while we renovated nearly 200 more. I mean I think we have to remember that -- I'd be careful about that because basically the baseline now has built into it a fairly weak for a path in the near term. The consumer bank earned 3.1 billion on good organic growth and delivered its sixth consecutive quarter of operating leverage, while we continued heavy investments for the future. Turning to the business segments, let's start with consumer banking on Slide 15. If they remain unchanged for the rest of the year, this would be only the first time since 1976 that both equity and bond markets were down for the year. Good morning, and thank you for joining us. Within Consumer, credit card grew 12%. You know, how long can you keep that going? Yeah. We've got this inflation rate that's obviously seems higher for longer and while we expect it comes down over the next 12 months? I wanted to ask a question about expenses. We've got this inflation rate that's obviously seems higher for longer and while we expect it comes down over the next 12 months? Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. Chas Cook Vice President, Investor Relations at Laboratory Co. of America Thank you, operator. So, last quarter, when we were together, we told you we expected to see consecutive NII increases of about 1 billion in Q3 and another billion in Q4. And in terms of funding the gap between the loan growth and flattish deposits, securities came down a fair amount this quarter. [Operator instructions] It is now my pleasure to turn today's program over to Lee McEntire. This drove the effective tax rate a little higher this quarter to more than 14%, still obviously benefiting from our ESG investment tax credits. We did our usual merit. Ollie's Bargain Outlet Holdings, Inc. ( NASDAQ: OLLI) Q3 2022 . Hi. As we think about the timing of the tax credits being pushed out, driving the tax rate slightly higher, is there an offset in that all other fee line that I think is viewed in tandem with the tax rate and, you know, [Inaudible]. Bank of America Corporation (NYSE:BAC.PK) Q3 2022 Earnings Conference Call October 17, 2022 8:30 AM ET, Alastair Borthwick - Chief Financial Officer. Greetings, and welcome to . When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. On Slide 14, we highlight the credit quality metrics for both our Consumer and Commercial portfolios. The banking capabilities and success differentiates our platform. So obviously, the trade between building the buffer up a little bit more, as you said, from where we are now to [50] basis points over the requirement is a little bit different. But interesting enough, what's driving the near-term growth in employees has -- there's obviously financial advisor growth, you saw the $400 million this quarter that's investing in the training programs and hiring some people into the office, especially outside our footprint to get them grow. [Operator Instructions] I would now like to turn the call over to Chas Cook, VP, Investor Relations. So, we build -- on a responsive growth, we build a book and a consumer side that we knew would be durable through different modeled outcomes, which is what we do in the stress testing and what we do in the preserve setting process and stuff, but also through actual outcomes. So it's not big, but it's important for us just to make progress in different areas. We're doing more with clients. But can you give us some color of what you're seeing there? On a GAAP non-FTE basis, NII in Q3 was $13.8 billion, and the FTE NII number is $13.9 million. And we saw enough revenue growth from banking products in Q3 that more than offset declines in assets under management and brokerage fees. And in this particular quarter, just to give you an idea, Ken, once again, we increased our forecast for inflation in that scenario. Many of the clients prefer that earnings credit adjustment as the way that they essentially pay interest, receive interest and then pay fees. We'll just have to see how some of the ins and outs play in terms of some of the stuff running off this year still left over from [Inaudible]. The effective tax rate for Q3 and Q4 likely a little bit higher than our original guide of 10 to 12. This conference will be recorded. And there, that's the weighting that we're applying and in this particular quarter, just to give you an idea Ken, once again, we increased our forecast for inflation in that scenario. I think that the CET1 build is certainly coming faster than I think The Street expected. We expect the things to fructify in near term and bring forward the fruit and drive the expense efficiencies and effectiveness. You add it all up, and it makes a difference. You saw responsible growth in action once again. I. So that's what we're trying to do. Lastly, the recent hurricane impacted some areas where we have strong market shares for many of our businesses. We'll take our next question from Gerard Cassidy with RBC. As you'll recall, back in last quarter, we talked about our June CCAR results, where our stress capital buffer increased from 2.5% to 3.4%. So, while many of our brokerage peers face declines in revenue and margin, we've seen year-over-year revenue growth of 2% and a margin of 29%, driving sixth straight quarter of operating leverage. And if you're asking me with respect to the consolidated other income, then I'd use something very similar to the fourth quarter of 2021 where we had an $800 million pretax loss. We expect that to continue. What Brian was referring to is the RWA optimization that we're doing as a company to make sure that we're in a great place to serve our customers and to be in a position to have the flexibility for buybacks in the future. I mean, revenue is up $2 billion, expenses up zero. Well, that's going to differ by customer base. We compared our analysis to other large storms in recent years like Sandy, Harvey, and Irma, where we incurred just a small amount of financial losses. You know, I think we have -- but remember that -- I'd be careful about that because basically, the baseline now has built into it, you know, fairly weak, you know, for path in the near term. We have provided an update in the appendix as to the credit transformation of our loan portfolio and a few other consumer credit slides to help illustrate the quality of our portfolio under years of responsible growth. Very good. And additionally, lower securities balances over the past six months modestly offset the benefits of year-over-year loan growth. While reported earnings were only modestly up year over year, pre-tax, pre-provision income grew 12% year over year, which highlights the earnings improvement coming through without the impact of the reserve actions. I think there's a lot of uncertainty around deposit behavior, betas, what the catch-up rate could be with deposit pricing. 21.10.2022 | 17:00 *: *: * Ladies and gentlemen, thank you for standing by, and welcome to the Bank OZK Third Quarter 2022 Earnings Call. They compare favorably to any other competitive measure that we see because we -- when we see people actually publish their numbers. While the company's overall investment banking fees declined $1 billion year-over-year in a continued tough market, investment banking fees did improve modestly from Q2 and the teams did a nice job of holding on to our number three ranking in overall fees in a tough environment. Will the . Yeah. Bank of America : Earnings Release Q3 2021 10/14/2021 | 07:02am EST Bank of America Reports Q3-21 Net Income of $7.7 Billion, EPS of $0.85 Q3-21 Financial Highlights 1 Net income rose 58% to $7.7 billion, or $0.85 per diluted share Revenue, net of interest expense, increased 12% to $22.8 billion This slower loan quarter growth included two notable impacts that Brian mentioned. And the payment rates on those credit cards are 1,000 basis points over pre-pandemic levels. Just a couple of questions. Talking to 50 different economists, some of whom are in the middle, some of whom are pessimistic themselves, some of them are more optimistic. We did a 3, 5 and 7 merit increase for everybody under $100,000 in compensation based on years of service. It moves even higher than that next year, just to give you an idea, it's sort of in the mid 5s, just to give you a general sense. Your line is open. Just one other one, Alastair. And so -- but yes, through the core operational excellence, discipline this company has and has shown, as I said earlier, seven years later, we have the same number of people. And again, we're not really seeing anything unexpected here. You also, I think, mentioned some loan sales. Q1 2022 Bank of America Earnings Conference Call. Expenses this quarter were $15.3 billion, and they included the settlement of our last large remaining legacy monoline insurance litigation. Thanks. Year-over-year expense declined, reflecting the absence of costs associated with the realignment of liquidates and business activity that we took in the fourth quarter of '21. That included just less than 3,000 across our various lines of business and another 1,000 in staff and support and technology positions to support those lines of business. So a little impact this quarter but net benefit to the shareholder over time. And if you look at Page 10, you can see that the interest checking noninterest-bearing accounts, the dollar volume of deposits as a total percentage of deposits are a very high percentage, and that's where we focus on. Yeah. Presentation Operator MessageOperator Good afternoon. So with that, I'll turn it over to you, Brian. And as they roll off, and remember, there's like 15 billion of them roll off every quarter, we can replace those with treasuries at a higher yield. Average deposit balances of our consumer customer remained at high levels relative to year ago. There is no terminal efficiency ratio. The company is a lot bigger than it was in 2015. Our guidance is going to assume interest rates in the most recent forward curve and that they materialize, that we see modest loan growth and modest deposit balance changes with market-based deposit pricing increasing baked in. Good morning, guys. And the provision increase reflected reserve builds this period, mostly for card growth versus a reserve release in the third quarter of '21. I'd also remind you that GTS benefits greatly from the NII off of deposits. Your line is open. This quarter, Bank of America reported $7.1 billion in net income, or $0.81 per diluted share. Second, rates also drove a 3.7 billion decline in AOCI from derivatives, and that does now impact CET1. In Wealth Management, total deposits are flat year-over-year. ET. But right now, the credit continues to improve. The FICC improvement was primarily driven by growth in our macro products, while our credit traded products were down. Stock Market Sectors: What Are They and How Many Are There? You saw that in prior quarters in all other. Start to move back. That combined with our consumer investments business has seen more than $100 billion of net client flows year-to-date. The decline in equities was driven by lower client activity in Asia and a weaker performance in cash, partially offset by good performance in derivatives where we saw increased client activity. But we generally point to the sort of 15% seasonality in Q4 compared to Q3. In the wealth management business, we added 400 advisors this quarter. And we've been investing heavily over the past year in several macro businesses that we identified as opportunities for us, and we were rewarded this quarter. And I'll cover the NII improvement in just a moment. And then the other thing I'd just say on RWA optimization is we probably tapped the brakes a little bit on loan production this quarter in a couple of places. Welcome, I hope everyone had a good weekend. Thanks. And then there'll be some derivatives as well. It grew 13% from last year. Look, we're in a good position on capital even after the increased stress capital buffer results, which surprised our industry and our company, and we appealed that, as you well know, and didn't get relief, but we hope its looked at in the future. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Very good. Yeah. Alastair Borthwick -- Chief Financial Officer. So while many of our brokerage peers faced declines in revenue and margin, we've seen year-over-year revenue growth of 2% and a margin of 29%, driving the sixth straight quarter of operating leverage. And it turns out if you get 35 million people banking in the pocket with a mobile phone, makes a big difference. We called it out last quarter, but it was just bigger. So, in spending, a couple thoughts. We invested all in frontline people to help serve our clients. At the same time, 27 million customers visit our financial center in the quarter. For example, in commercial banking, our strategic hiring over the years has just continued to increase our client and prospect calling efforts. And with that, I'm going to stop there and open it for Q&A. Year-to-date spending of $3.1 trillion through September is up 12% compared to last year. Every business segment delivered operating leverage. But right now, the credit continues to improve, but it's what we did over the last 12 years, 15 years of proof -- hold us in good stead as we head into this thing. Year-over-year, that premium amortization has improved $1 billion. It has become a primary interaction method for our clients with more than 130 million interactions this quarter alone. And then also importantly, through optimization of the balance sheet, we managed our RWA balances down and that added 26 basis points more of capital ratio improvement. This is for the new product development type of file. And you can see the Fed stress test and the adverse case, you can see the numbers, frankly, which I don't think would ever materialize, given if what you do in the period of time between then and there, but that gives you some sense if you look us up. That was the case this quarter. First, it's 6.6 billion of earnings, net of preferred dividends, and that generated 40 basis points of capital. Bank of America Corporation's (BAC) CEO Brian Moynihan on Q3 2021 Results - Earnings Call Transcript. [Operator Instructions] We will now. As always, they're available, including the earnings presentation that Brian and Alastair will refer to during the call, on the Investor Relations section of the bankofamerica.com website. While Bank of America released $1.1 billion in reserves in the year-earlier period, in the third quarter the firm had to build reserves by $378 million. The noninterest-bearing deposits are down 3%, while the interest-bearing are up 4%. If you think about it, the first quarter would have the, you know, FICA and that type of stuff, and the second quarter had that regulatory seven circled after litigation. Clearly, that's not sustainable. The highlights this quarter were also once again marked by good organic customer activity. Forward-looking statements are based on management's current expectations and assumptions, and they are subject to risks and uncertainties. We'll just have to see how some of the ins and outs play in terms of some of the stuff running off this year still left over then. This takes us back to our five-year run before the pandemic. So, there's a lot that goes into RWAs. Turning to the numbers. Or do you think you could manage the heavier buyback activity as you build to that 11.4% CET1 by January 1, 2024? Yes. So in spending, a couple of thoughts. We had good risk management. We added 1.3 million new credit card accounts. Transcript : SpareBank 1 Ostlandet, Q3 2022 Earnings Call, Oct 28, 2022: CI. Analysts: John McDonald Autonomous Research Analyst. And we'd expect to pay higher rates as we continue to move through this rate cycle. We called it out last quarter because it was just bigger. So, you know, we don't really speculate on that. On Slide 5, we show you as we did last quarter, some other stats about resiliency. But yes, we believe we'll grow NII next year. So in summary, client activity remains good. Just I ask this for someone else if they didn't really know. Yes. So that's what's largely baked into our assumptions at this stage. This drove the effective tax rate a little higher this quarter to more than 14%, still, obviously, benefiting from our ESG investment tax credits. Quarter Ended Sep 30, 2022. 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