HBAN
#Thanks, <UNK>.
<UNK>, that is a very accurate conclusion or analogy and I think the volatility just had people pause as the quarter progressed, more confidence emerged and as we sit here today, our pipelines look good going into the second quarter.
And, frankly, they did at the end of the fourth quarter.
Again, that volatility just created, I think, a bit of a timing issue.
Well we've spent a considerable amount of time with our team and their team.
I mentioned we've gotten through much of the product matching and mapping and so the things that would be done early stage for integration purposes are well underway.
Terrific cooperation and communication and we continue to be very impressed with the quality of the people from FirstMerit that we have the pleasure of interacting with.
So we had outlined a sequential integration plan when we announced the deal.
We're certainly well on track with that.
And expecting to get approvals necessary to close in the third quarter.
Thank you.
Thanks, <UNK>.
So on the first question, <UNK>, about 70% of the margin benefit from our derivatives actually comes from the debt swaps.
So when you think about the impact of the asset swaps at about 30% of the impact and if you roll that forward, I think we see another $2.4 billion of the asset swaps coming off by the end of 2016 and the remainder come off basically by the end of 2017.
That impact is completely manageable when you think about the quarter-to-quarter impact and how slow those are rolling off.
On the second question, we really don't have a target in terms of what we're looking for.
We do think eventually it's going to be good to be asset sensitive.
We're very comfortable with our position today and how we're managing the balance sheet.
With the swaps rolling off and I think some of the changes that we've made in the non-maturity deposits, we have seen the increase in asset sensitivity.
But, again, we're very comfortable with how the balance sheet is positioned and the outlook for interest rates as we go through 2016.
Thanks <UNK>.
Our core markets have done well, so Ohio and Michigan have had good growth.
And we've also had growth in the asset finance portfolio, <UNK>.
Like what we're seeing with how the year's progressing, at least at this stage, and were feeling much more confident with the market settling down and this volatility abating from where it was in early January and February.
Yes, we had it coming down 300 to 400 basis points, I think is what we disclosed in that investor presentation.
Clearly a good opportunity for us when you think about 80% of their markets overlapping with ours, and the number of consolidations that we are going to be able to achieve.
Thanks, <UNK>.
Thank you.
We're off to a good start in 2016 as our first-quarter results provided a solid base to build from.
We delivered 7% year-over-year revenue growth, 3% net income growth, and 5% growth in EPS and an 8% increase in tangible book value per share.
So these are solid fundamentals and we're well-positioned to continue to deliver good results through the remainder of the year.
You've heard me say this before and it remains true, our strategies are working and our execution remains focused and strong.
We expect to continue to gain market share and improved share of wallet in both consumers and businesses.
We expect to generate annual revenue growth consistent with our long-term financial goals and manage our continued investments in our businesses consistent with the revenue environment and our long-term financial goal of positive operating leverage.
We're optimistic on the economic outlook in our footprint and believe the gradual transition to more normalized credit metrics will be effectively managed.
Finally I want to close by reiterating that our Board and this Management team are all long-term shareholders and our top priorities include managing risk, reducing volatility and driving solid consistent long-term performance.
So thank you for your interest in Huntington.
We appreciate you joining us today.
Have a great day, everybody.
