Second-quarter bank earnings continue to point to mixed loan production volume and a rise in leasing spurred by EVs. 

U.S. Bank originated $1.9 billion in Q2, up 21.5% year over year while outstandings fell 30.6% YoY to $8 billion. PNC Financial’s auto outstandings dipped 1.6% YoY to $14.8 billion, and Citizens’ auto book continued to run off. Ally Financial originated $639 million in battery EV and hybrid leases during Q2.