Raymond James sees NIM compression continuing
Raymond James Bank NA President and CEO Steven Raney expects the company to continue seeing net interest margin compression.
Raymond James Bank reported a net interest margin of 2.88% in the quarter ended June 30, down from 2.97% in the previous quarter and 3.20% in the year-ago quarter. Speaking July 24 during the Raymond James Financial Inc. earnings conference call, Raney said NIM could drop to as low as 2.70%.
"I would expect some slight net interest margin compression to continu...