HBAN
#Geoff, it is <UNK>.
Starting with the first question.
Clearly, as we went through CCAR this year, the most important outcome for us was getting the FirstMerit deal through the process and getting approval for the deal itself.
Of course, we are still waiting for approval.
We expect that to happen in the third quarter.
But we just thought it best to be a bit cautious and making sure that we got through the process, because we can create so much more value by getting FirstMerit closed early and on time relative to the buyback that we had in for 2016 CCAR process.
What I would tell you, going forward, is that we'll take each year as it comes.
Next year is a different process.
We expect to be in a different position.
Not quite sure what the economic scenarios that the Fed will give to us would look like.
So don't want to comment on what the future looks like.
But that's basically our thought process around this year's process.
We still expect to get the 3Q closing.
You bet.
Thanks <UNK>.
Just a few things to think about.
So the asset sensitivity numbers that we publish are a 200 basis point gradual increase scenario.
If you think about where the rate curve is today, and you think about a flat rate environment going forward, over the next 12 months we have maybe 1 basis point or 2 of margin at risk.
So I'm not totally uncomfortable that position, plus we've got the FirstMerit closing integration and I would say optimization of the two balance sheets as they come together.
So we have that entire process to work through as well.
So that's the way I take a look at it.
We feel good about the margin, and where it's at today, we still believe that we are above 3% for the remainder of the year in core Huntington.
And if you take a look at FirstMerit, excluding any impact on the first accounting adjustments, it's actually additive to the margin.
So that's our perspective, <UNK>.
It's primarily funding the securities, and that's been a bit of the pressure that we've had on the margin over the past year.
Today, we are bringing securities on at probably close to [1.9%], and the next issuance that we that we ---+ if we issued debt today, we'd probably be in the [2.10%] range.
Something like that, swap to floating.
So you can see where some of the pressure starts to build from a margin perspective, but having said that, we are at 115% LCR right now.
We feel good about where we are from a securities perspective, and really, we're just replacing and also keeping in mind the amount of debt that we need from a rating agency perspective and an FDIC perspective.
You bet.
Take care.
<UNK>, so we are still tracking ---+ we said about $420 million we announced the acquisition, and I would tell you that we have probably realized 75% of that in 2016.
Is the way I would think about it.
It's going to start to pick up from here.
We're obviously very deep into the integration process, but that's how I would think about it from a timing perspective.
So there was a bit of a stub period related to the first quarter payment for the period that it was without, about $3 million.
It's going to be 6.25 times the $600 million is the way to think about it.
So about $17 million.
Thanks, <UNK>.
So, thank you.
The second quarter built upon a solid foundation we laid the first quarter.
The performance continues to be solid, delivering revenue growth despite challenging headwinds.
And, our fundamentals remain solid and we are well-positioned to continue to deliver 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.
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 annually.
We expect modest growth in our economic footprint and continue the gradual transition to more normalized credit metrics, which will be effectively managed.
We've made significant progress, significant progress in our integration planning for the FirstMerit acquisition, and we look forward to completing the acquisition later this quarter, following receipt of all regulatory approvals and our customary closing conditions.
Finally, I want to close by reiterating that our Board and this Management Team are all long-term shareholders.
Our top priorities include increasing primary relationships across our business segments, managing risks, reducing volatility, and driving solid, consistent long-term performance.
So, thank you for your interest in Huntington, we appreciate joining us today.
Have a great day.
