The Birmingham, Ala., bank's profits fell 32% as its loan-loss provision tripled. The expense covered “isolated, one-off issues” in its commercial and consumer loan portfolios, CEO Javier Rodriguez Soler said.
The Wisconsin bank's pending acquisition of 32 Huntington branches would boost its ability to make more loans, but like other banks this quarter it said deposit costs are cutting into margins.
Stephen Steinour said it was pure conjecture that Huntington was a possible suitor for the Dallas bank if it decides to put itself up for sale at some point. He emphasized Huntington's core-growth strategy and upbeat economic signs from consumers and businesses.
The San Antonio bank reported 6.8% growth in loans, but Phil Green said he was unwilling to match overly generous prices and underwriting terms that he is seeing in the market.
