The company reported adjusted earnings of $1.95 a share on revenue of $864 million. Analysts were expecting the company to report earnings of $1.86 a share on revenue of $864 million.
The company reported a quarter-to-quarter $15 million increase in net interest income to $614 million while adjusted non-interest income fell $4 million to $250 million.
"The fourth quarter and full-year 2018 results demonstrate our ability to carefully manage loan and deposit pricing in a rising-rate environment, produce strong credit quality, successfully execute our GEAR Up initiatives, and meaningfully reduce excess capital. We also benefited from a lower tax rate due to tax reform," said Ralph W. Babb, Jr., chairman and CEO. "All together, these drove a return on equity of over 16 percent for the fourth quarter. We believe we are well positioned to continue to increase our bottom line as we drive revenue growth and positive operating leverage, while achieving favorable credit metrics."