Anthony Restel on economic growth
From First Horizon CEO: Well-positioned to be very aggressive in the marketplace · · CNBC Television
“I think it really is an economy that continues to grow at a fairly modest or slow pace. Financial conditions have loosened a bit, in my view, since the December FOMC meeting, but they're still relatively tight.”
On , Anthony Restel, Senior Executive Vice President & Chief Banking Officer at FIRST HORIZON CORP, spoke about economic growth during First Horizon CEO: Well-positioned to be very aggressive in the marketplace on CNBC Television.
About Anthony Restel
Anthony Restel, Senior Executive Vice President and Chief Banking Officer at First Horizon, was referenced in a September 2024 CNBC interview with CEO Bryan Jordan. Jordan stated that the bank had "very good deposit growth in 2023 and very good retention of those deposits," and that it managed deposit costs to balance client compensation with balance sheet funding. He said the bank is "well positioned with a strong, stable funding base" and "a strong capital base to continue to be very aggressive in the marketplace" when opportunities arise. Jordan described the economy as growing at a "modest or slow pace" with "relatively tight" financial conditions)Skip. He said a neutral interest rate environment "serves us very, very well," noting that lower rates would reduce net interest income slightly but would boost countercyclical fee businesses like mortgage lending and fixed income distribution. Regarding credit quality, Jordan said losses were 23 basis points (about $38 million) and that the bank feels "very, very good about the outlook for credit," attributing rising nonperforming assets to "idiosyncratic stories" rather than broad economic issues. He also characterized the 2023 regional banking turmoil as "more a crisis of a few banks" that was "business model related."