CLAIM #10469 · BK (BK) · 2025Q4 earnings call · Jan 13, 2026

“Q3 is usually the seasonally slowest and you would expect over the next couple of quarters to moderate down slightly.”

Dermot McDonogh · CFO

How to check this claim

Look at: Average deposit balances, quarter over quarter

It came true if: Q1 2026 and Q2 2026 average balances each modestly lower than Q4 2025 level (moderate down slightly, not flat or higher)

Where: Company quarterly earnings release / supplemental financial data (average balance sheet disclosures)

Knowable after: 2026-07-31

In context

“may not run rate forward relative to your exit? Dermot McDonogh: So Q4 really was balances held in quite nicely, and we had -- we always say that we don't lead with deposits and really NII is an output as a result of franchise activity. And in Q4, we had very strong activity in our asset servicing business, which caused balances to outperform in the last few weeks of December, and that caused the outperformance. Unknown Analyst: Okay. I would just think that just as you're continuing to push, as you mentioned just before, like why wouldn't that just be a better organic hold on just activity and overall balances? Dermot McDonogh: So if you kind of take balances overall, for 2026, we expect balances throughout the course to be roughly flat, Q4 is normally our strongest quarter on balances. Q3 is usually the seasonally slowest and you would expect over the next couple of quarters to moderate down slightly. When we give you the -- when we think about the 5% plus, it's really around the asset side of the balance sheet where we have securities kind of rolling off, and we're reinvesting as a kind of [ 100 to 150 ] basis point pickup. So we kind of -- we've narrowed the range of the cone of outcomes as it relates to interest rate volatility, balances we expect remain roughly in line or flat, and the pickup will come from assets rolling off into higher-yielding securities. Operator: We'll take our next question from Steven Chubak with Wolfe Research. Steven Chubak: So Robin, I wanted to start with a question on your newly launched tokenized deposit capabilities and I was really hoping you could speak to institutional demand for the offering what has been some of the early feedback? And as the eff”

Verify independently

SEC filings for BK ↗ · Quote is verbatim from the 2025Q4 earnings call.