deeper into today's earnings and what we might expect to see from other banks reporting next week is marty mosby, the director of bank and equity strategists at vining sparks. nice to have you here, marty, welcome. >> thanks for having me this afternoon. >> you say there's basically four catalysts that you think are going to continu to push this particular sector of the market forward. it sounds as though you think they're really in the sweet spot. >> we are. this is the las half of the normalizat that we started coming out of the recession and financial crisis. unfortunatel we had four years from 2012 to 2015 when we kind of just stalled out and we didn't get any of this improvement that we should have had five to seven years ago. those four things are very easy. it's low credit cost. number two is it's rising interest rates. that continues to push margins wi it's the deployment of capital. we built up capital that now needs to be pushed back and used more prudently and being productive.la you get some oper leverage, expense savings, synergies from acquisitions. those are coming together now to

let's get back to citigroup earnings a beat on the top and bottom line joining us on the news line, marty mosbyity strategies at lining sparks look at the net on per rating loss carry forwards. in the past, marty, it actually got political. normally you need to go bankrupt to get that much to carry forward every year so they got the best of both worlds they got bailed out and keep all the losses that was crazy now it's coming home to roost. $22 billion. that's a lot, isn't it, or not >> oh, it is and it does reflect the losses that they incurred through the financial crisis in the last recession. so that is now writing that off. what it means for citi is it does reduce the tangible book value per share. that's what matters right now because they really have to begin to improve possibility while they beat on the estimates, they really haven't improved theirprofitability over the last year. >> i see it at 78. i still see $7.80. am i wrong to see it at $7.80? isn't that where it is >> $7.80 in there for? >> share price because of the reverse split. used to beibe a $50 stock then it went to 5, now