on April 14 reported first-quarter 2016 net income attributable to diluted commonshares of $850 million, or $1.68 per share, compared to $926 million, or $1.75 pershare, in the first quarter of 2015.
The S&PCapital IQ consensus normalized EPS estimate for the recent quarter was $1.70.
The company's net interest margin for the first quarter was 2.75%,compared to 2.70% in the linked quarter and 2.82% in the first quarter of 2015.
Overall credit quality for the first quarter of 2016 remainedrelatively stable with the fourth quarter of 2015, except for certain energy-relatedloans, the company said in its earnings release.
Nonperfomingassets were $2.55 billion at March 31, 2016, compared to $2.43 billion at Dec. 31,2015. The increase was due to higher nonperforming commercial loans driven by energy-relatedcredits. Included in total nonperforming loans at March 31, 2016, were $301 millionof nonperforming loans in the oil, gas and coal sectors compared to $42 millionat Dec. 31, 2015.
Nonperformingassets declined $202 million from first quarter 2015, reflecting improvements inthe consumer lending and commercial real estate nonperforming loan portfolios partiallyoffset by higher commercial nonperforming loans reflecting energy-related credits,according to the company's earnings release.
Net charge-offsfor the first quarter amounted to $149 million, up from $120 million in the previousquarter, reflecting higher NCOs of $16 million for commercial lending and $13 millionfor consumer lending. Included in commercial lending NCOs were $25 million of NCOsfor loans in the oil, gas and coal sectors in the first quarter of 2016 comparedto $12 million in the fourth quarter of 2015. Compared to the first quarter of 2015,NCOs increased $46 million due to higher commercial loan NCOs.
Provision for credit losses was $152 million for the first quarterof 2016, compared to $74 million in the linked quarter and $54 million in the firstquarter of 2015. The first-quarter 2016 provision included $80 million for loansin the oil, gas and coal sectors compared to $23 million in the linked quarter.