The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jason Goldberg - Barclays - Analyst
: Thanks, Tim. That was definitely interesting on payments and if kind of stick with that home, you know, first, but maybe just I guess,
how do your tech investments and Commercial Payments kind of provide a differentiated solution?
We've had a lot of banks at this conference mentioned treasury management, PNC mentioned it. Truist mentioned it on probably a
few others. And I guess what's different about you?
Question: Jason Goldberg - Barclays - Analyst
: I guess you mentioned kind of the acquisition of Rhiag last year and kind of this new line, I guess, embedded payment type business
bomb, what does that allow you to do that? Maybe other things can you add?
Question: Jason Goldberg - Barclays - Analyst
: Well, we will pick up the first ARS question. We've been asking this at other companies.
Don't worry. I won't ask you guys to comment Perbio. Maybe we'll kind of maybe pause on payments a bit and turn just a bit to the
financials. And you did provide us a lot of guidance in that slide at least on the third quarter on maybe the first place to start with
you just went through it as loan growth is something a lot of banks have talked to being soft and the H8 data would signal that on
sounds like your quarter be a little bit softer than anticipated. Maybe just talk to on kind of what you're hearing from your customers
kind of current expectations and what you think is needed to see to kind of we restart loan growth?
Question: Jason Goldberg - Barclays - Analyst
: And then maybe we could put the next ARS question. Maybe just talk about deposits on kind of what trends you're seeing. I guess
the feds are unlikely to go likely they're going to cut next week. How do you respond? I think some of your commentary suggested
you're kind of think betas to be higher than maybe some of your peers yet.
Question: Jason Goldberg - Barclays - Analyst
: Yes.
And then maybe a drop next ARS question. I guess marrying that together, it seems like there was a fear that banks would kind of
guide down kind of second half benefited from at this conference, and it seems like most have kind of stuck with our guidance
despite the market pricing in on greater easing. It seems like as we start to think about 2025, there's a bit more uncertainty you guys
have, I would think maybe outperform peers in terms of managing the balance sheet. But I guess just how you're thinking kind of
the back half of this year into next year with respect to overall net interest income trends ?
Question: Jason Goldberg - Barclays - Analyst
: And then I guess turning to the fee income front, you did kind of modestly increase from kind of your guidance, particularly increase
your guidance for the fourth of third quarter. Can you talk to what's driving the change in expectations and just any other trends
you want to point out?
Question: Jason Goldberg - Barclays - Analyst
: And then now capital markets have shown up as those hedging businesses have come back, I guess on the July earnings call, you
kind of took down your fee income guidance for the year.
Now on the October earnings call, you have to increase your fee income guidance for the full year?
Question: Jason Goldberg - Barclays - Analyst
: But I'm just wondering things in Q3 taking out the charge-off guidance from 40bps to 45 bps to 50 bps and maybe you talk to kind
of what are the drivers of that and then I'll follow up on the reserve question after.
Question: Jason Goldberg - Barclays - Analyst
: Got it. And I guess within the commercial charges this quarter, any particular industries to note there were a couple in the media
space where just some aspects of the expectations around how the world is evolving, whether that's migration from traditional
media to streaming or even some of the digital advertising categories. There was a little bit in that space it was an overweight and
maybe a third was in that space and then everything else was fairly well diversified.
And then I guess anything else from away from C&I, you're keeping an eye on auto has been a topic over the last day or two.
Question: Jason Goldberg - Barclays - Analyst
: Got it. And then maybe on and then I guess as you think about credit, I guess, beyond the third quarter on, I guess, how do you feel
about on the overall health of your customer base? And where do you see kind of charge-offs looking out?
Question: Jason Goldberg - Barclays - Analyst
: So in a year with the capital priorities, I didn't hear you mention acquisitions. So could you maybe just talk to and maybe separately,
you kind of nonbank acquisitions. You mentioned that rising, it's on dividend and provide and just maybe kind of your appetite
there. So I'd love to get your thoughts on bank acquisitions as well?
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