The second quarter of 2019’s earnings season kicked off with a flood of bank earnings reports. Fourteen of the 19 companies within the S&P 500’s bank industry have reported 19Q2 earnings and revenue. While the majority of companies within the industry beat top and bottom line expectations, they fell short on some industry key performance indicators (KPI’s). Exhibit 1: S&P 500 Bank Industry YoY Growth Rates The S&P 500 bank industry is expected to see 19Q2 YoY revenue increase 2.9% and earnings increase 18.4%. Of the companies that reported, 78.6% beat revenue estimates, which came in 1.7% above expectations. The