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Analyst
Steven Alexopoulos
Period: Reporting periods mapped to calendar 2025 Q2 – 2025 Q3 (2 quarters).
- Questions
- 24on tracked calls
- Challenge rate
- 38%9 of 24 questions
- Companies
- 11questioned at least once
- Reporting periods
- 2with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 24 of 24 questions from 11 companies
HBANHuntington Bancshares4 questions · 2 reporting periods · 2 of 4 challenging
Calendar 2025 Q3
are you concerned that there are more credit quality issues out there lingering in the industry
Show response
Steve acknowledged isolated industry issues but emphasized broad de-risking since GFC. Huntington's 15-year aggregate moderate-to-low risk appetite, broad diversification, and consumer reporting tightness provide confidence. Not seeing forward indicators of deterioration.
I'm looking at the 16 to 17% medium-term goal you're calling out for 2027, are you are you signaling that the return's going to decline
Show response
Zach acknowledged ROTCE already exceeds high end of 16-17% medium-term target, may revisit range going forward. Dual approach: drive TBV per share (10% growth) while maintaining strong returns. High single digit to low double digit TBV growth signaled at Investor Day.
Calendar 2025 Q2
What's the thought behind not growing deposits a bit more aggressively here
Show response
Zach explained optimization of cash position and NIM management. Expects deposit growth to resume in Q4 and match loan growth in 2026 planning.
noninterest-bearing deposits were down in the quarter
Show response
Zach noted modest continued mix shift but focus on growing lower-cost checking category, which shows nice growth trajectory.
RFRegions Financial Corporation3 questions · 2 reporting periods · 1 of 3 challenging
Calendar 2025 Q3
should we assume that the increase in the expense outlook is sticky here, just given inflationary impacts
Show response
David Turner explained the expense increase is driven by $12M HR asset valuation impact (offset in NIR) and health insurance costs, not structural inflation. Approximately 2% full-year expense growth. Dismissed inflation concerns.
does that mean that if the Fed is cutting rates, can hold them steady from that? But continue to see NIM expansion from this mid-three 60 level
Show response
David Turner detailed 125bp front book back book benefit (down from Q2 due to lower 10-year). Hedge portfolio negative carry dissipates as rates fall, providing protection. Confident in 1-2% NII growth and mid-360s NIM in Q4.
Calendar 2025 Q2
Could you unpack this for us? How do you expect to maintain that stable means you have to grow it if you're growing, total deposits to fund loan growth
Show response
David Turner explained deposit growth strategy ties new money market deposits to checking account requirements. John Turner detailed 4.5M consumer checking accounts with $5,500 avg balance, 400K small business at $15K. NIM can reach 4% with normalized yield curve.
TFCTruist Financial3 questions · 2 reporting periods · 0 of 3 challenging
Calendar 2025 Q3
do these represent an inflection point in the credit outlook for the industry compared to where we were three months ago
Show response
Rogers said early to call an inflection point, portfolio performance not demonstrating broad deterioration. Will review implications of external events as always.
When you guys look at the totality of your loan exposures, where do you rank the risk of the NDFI portfolio? Below average, average, or above average
Show response
Milsaps placed Truist 9th of 11 peers on NDFI exposure at 11% of total lending. Bender described long-tenured relationships with global financial institutions, sub-limits and top-of-house limits in place. Rogers framed NDFI as investment-grade looking portfolio with strong risk-adjusted returns, a client strategy counted in an NDFI category.
Calendar 2025 Q2
if we don't see any rate cuts, do you guys think you could still get into that revenue range and the positive operating leverage range
Show response
Maguire said yes if curve shape remains stable; offsetting forces between no cuts and stable long-end. More important for 2026 NII outlook than 2025.
BACBank of America2 questions · 1 reporting period · 1 of 2 challenging
Calendar 2025 Q2
it seems like the way you're thinking about stable coins is your -- it's a little wait and see, right
Show response
Brian cited need for legal clarity before customer-facing crypto activity. Noted the bank already moves $3-4 trillion daily digitally and the incremental value of stablecoins still needs to be proven.
how should we think about your company as you leverage these tools
Show response
Brian detailed the historical consumer headcount reduction from 100,000 to 53,000 while growing deposits from $400B to $900B+. Cited Erica's 60M monthly interactions replacing phone calls. Emphasized scale of application over speed of adoption.
CCitigroup2 questions · 1 reporting period · 1 of 2 challenging
Calendar 2025 Q2
how much of the total company's revenue is cross-border
Show response
Fraser argued Citi Token Services is superior to stablecoin alternatives due to zero transaction cost, 24/7 cross-border movement, and compliance absorption.
what is holding the banks up today from joining together same way you did from Zelle
Show response
Fraser welcomed the Genius Act for a level playing field and asserted Citi's independent capability as the killer app in cross-border digital payments.
JPMJPMorgan Chase & Co.2 questions · 1 reporting period · 1 of 2 challenging
Calendar 2025 Q2
would it make sense for JPMorgan to consider acquiring an LLM, right?
Show response
Dimon dismissed LLM acquisition. Barnum clarified inorganic opportunities are considered but Jamie said they're unlikely given high bar for deals. Small acquisitions continue.
What's holding up you guys and the other banks getting together to issue something joint, similar to what you've done with Zelle
Show response
Dimon acknowledged the point about interoperability was great but declined to answer directly, saying only that JPM is thinking about all of it.
Show 5 more companies
MTBM&T Bank2 questions · 1 reporting period · 1 of 2 challenging
Calendar 2025 Q2
I saw you are guiding to the high end of the fee income range. And when I look at trust, there is a nice positive surprise this quarter again, $182 million. Can you get some color on what is drivin...
Show response
Bible highlighted corporate trust expansion into Europe, subservicing growth, RCC commercial mortgage business, and treasury management revenues up 12-13% YoY.
do you feel more of a burning need just to get larger to compete against the mega banks which are net growing checking accounts pretty well here
Show response
Bible firmly rejected need for scale, citing community-focused model, best-in-class efficiency ratios, and advantages of simplicity. May grow into contiguous markets when appropriate.
NTRSNorthern Trust2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2025 Q3
Do you guys think you could remain fairly comfortably above that 30% medium term target moving forward? And even if the Fed's cutting rates?
Show response
O'Grady confirmed 30%+ pretax margin is the ongoing target, noted YTD margin closer to 29% with Q3 boost from provision release, and emphasized continued positive operating leverage drive even above 30%.
terms of the financial impact, so far, is this material Like, is this helping you this year keep expenses below 5%?
Show response
O'Grady acknowledged capturing AI efficiency gains is the challenge. GitHub/programming savings are real now. Broader capture requires discipline around headcount, span of control, and organizational design to ensure new business growth doesn't require proportional hiring.
USBU.S. Bancorp2 questions · 1 reporting period · 2 of 2 challenging
Calendar 2025 Q2
is 200 basis points enough of an objective to get the stock working? And do you need to do more on the revenue side
Show response
Gunjan acknowledged stock reaction; said investor confidence will grow with consistent delivery against medium-term targets; revenue growth opportunities are real.
what is going to change from what happened this quarter where you saw a migration to higher cost deposit products
Show response
John highlighted Bank Smartly: 50%+ new-to-bank, 3x multiservice clients, 1/3 lower acquisition cost; improving pricing flexibility on retail deposit base.
CFGCitizens Financial Group1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q2
So if we look at the $12 billion deposit target for the end of this year, I know the trends aren't linear, but just given what we saw in 2Q versus 1Q, what gives you confidence?
Show response
Probed confidence in hitting $12B deposit target given Q2 spot deposits were flat. Follow-up asked whether reimagining initiative goes beyond call center AI to encompass full client experience and cost transformation. Good skeptical-but-engaged questions.
FITBFifth Third Bancorp1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q2
What does it mean for business [indiscernible] as a relevant to a company like that if they have their own stablecoin
Show response
Tim explained stablecoin adoption creates more business: fiat on-ramp, off-ramp, reserve accounts, and instant payment rails via Newline. Cross-border is the primary use case.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| HBAN Huntington Bancshares | 4 | 50%2 of 4 questions |
| RF Regions Financial Corporation | 3 | 33%1 of 3 questions |
| TFC Truist Financial | 3 | 0%none of 3 questions |
| BAC Bank of America | 2 | —Rate withheld: fewer than 3 questions |
| C Citigroup | 2 | —Rate withheld: fewer than 3 questions |
| JPM JPMorgan Chase & Co. | 2 | —Rate withheld: fewer than 3 questions |
| MTB M&T Bank | 2 | —Rate withheld: fewer than 3 questions |
| NTRS Northern Trust | 2 | —Rate withheld: fewer than 3 questions |
| USB U.S. Bancorp | 2 | —Rate withheld: fewer than 3 questions |
| CFG Citizens Financial Group | 1 | —Rate withheld: fewer than 3 questions |
- HBANHuntington Bancshares · 4 questions50%2 of 4 questions
- RFRegions Financial Corporation · 3 questions33%1 of 3 questions
- TFCTruist Financial · 3 questions0%none of 3 questions
- BACBank of America · 2 questions—rate withheld: under 3 questions
- CCitigroup · 2 questions—rate withheld: under 3 questions
- JPMJPMorgan Chase & Co. · 2 questions—rate withheld: under 3 questions
- MTBM&T Bank · 2 questions—rate withheld: under 3 questions
- NTRSNorthern Trust · 2 questions—rate withheld: under 3 questions
- USBU.S. Bancorp · 2 questions—rate withheld: under 3 questions
- CFGCitizens Financial Group · 1 question—rate withheld: under 3 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q2 | 16 | 56%9 of 16 questions | 10 |
| 2025 Q3 | 8 | 0%none of 8 questions | 4 |
- 2025 Q216 questions · challenge rate 56% (9 of 16 questions) · 10 companies
- 2025 Q38 questions · challenge rate 0% (none of 8 questions) · 4 companies
Topics
Topics tagged on this analyst’s questions.
- Margin10
- Competitive Dynamics7
- Innovation & R&D6
- Credit4
- Pricing3
- Demand3
- Cost Pressure2
- Macroeconomic1
- Capital Allocation1
- Cloud & AI1
Show all 15 topics
- Regulation Policy1
- Geographic Expansion1
- M&A1
- Revenue Growth1
- Guidance Reliability1