The New York company, which is preparing to buy Astoria Financial, reported year-over-year increases in commercial-and-industrial and commercial real estate loans.
The Rhode Island bank plans to build out its fee income capabilities, expand C&I lending in the Southeast, renegotiate vendor contracts and take other steps to produce expense cuts and revenue enhancements of at least $90 million.
The Cincinnati company reaped the benefit of the latest round of interest rate hikes, as a higher net interest margin and lower costs helped overcome the drop in lending.
