2Q26 Regional Bank Earnings Preview

研报英文原文证据摘录

2Q26 Regional Bank Earnings Preview

RBC Capital Markets, LLC

Jon G. Arfstrom (Associate

Director of U.S. Research)

(646) 703-3565,

jon.arfstrom@rbccm.com

Karl Shepard, CFA (Analyst)

(612) 371-2709,

karl.shepard@rbccm.com

July 1, 2026 Taylor Irwin, CFA (Associate)

(612) 766-9613,

taylor.irwin@rbccm.com 2Q26 Regional Bank Earnings PreviewRESEARCH Positive outlook on strong loan growth, margin stability, clean credit.

Our view: We are previewing 2Q earnings for our regional bank coverage. We are also fine-tuning

estimates and price targets to reflect intra-quarterly commentary. We see the outlook as stable from

1Q earnings, and while some macro uncertainty remains and the rate outlook has shifted, we view the

business environment as favorable, and we are optimistic on the medium-term outlook. For 2Q, we

expect typical seasonal tailwinds, and we remain constructive on the core fundamentals heading into

the quarter. We expect healthy loan and revenue growth to drive solid earnings growth and returns.

We expect earnings calls to focus on lending demand and pipelines, margin outlooks, deposit pricingEQUITY

trends, regulatory themes, and capital priorities. At the mid-point of the year, we also expect companies

to fine-tune their full year 2026 guidance.

We are fine-tuning estimates for the regional banks. Our adjustments are modest as we look to align

estimates with intra-quarter management commentary and events. We see the outlook as consistent

and our forecasts continue to reflect a stable to improving environment with minimal impacts from

recent macro volatility. Despite volatility in February and March, the stocks have performed well this

year. Even so, we believe valuations remain attractive assuming fundamentals continue to strengthen.