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MB Financial's first-quarter profit rose nearly 71% from the same period last year, but lower-than-expected loan growth and expenses related to its acquisition of Taylor Capital late last year caused it to miss earnings-per-share projections.
April 21 -
Synovus Financial in Columbus, Ga., posted higher quarterly earnings as its loan-loss provision continued to decline.
April 21 -
The California company is dealing with a pool of stressed energy loans it inherited from last year's purchase of CapitalSource. The pain shouldn't make the deal less appealing, but it is likely taking up more time than management may have expected.
April 17
Fulton Financial in Lancaster, Pa., reported lower first-quarter profit on a decline in net interest income and higher expenses.
Net income at the $17 billion-asset company fell 4% to $40 million, or 22 cents per share, from a year earlier. That was two cents higher than the average estimate of analysts polled by Bloomberg
Net interest income fell 5% to $123.6 million. The net interest margin compressed by 20 basis points to 3.27%.
Noninterest expense rose 8% to $118.6 million on higher salaries and employee benefits.
Fee income offset rose 16% to $44.7 million, primarily due to $4.1 million in investment securities gains. Mortgage income and other service charges also contributed to the increase.
Fulton's board this month approved a $50 million stock buyback, running through the end of the year.
