Integra Bank Corp. in Evansville, Ind., reported second-quarter earnings Tuesday of $8.3 million, up 13% from the year earlier. Diluted earnings per share were 41 cents, down 2%.
Earnings per share met the average of analysts' expectations as reported by Thomson Financial. Related Links Complete 2Q 2007 Earnings Coverage
In a conference call, the company reduced its earnings guidance for the year by six cents, to $1.72 per share, because of the interest rate environment and economy. The average of analysts' estimates for the year was $1.77 per share.
The $3.2 billion-asset company attributed the earnings increase to its integration of Prairie Financial Corp., which it bought on April 9. Integra also opened a branch in Union, Ky., during the quarter.
Its net interest income after a provision for loan losses for the quarter was up 16%, to $23.1 million. Its loan-loss provision was down 47%, to $455,000.
Noninterest income for the quarter was up 9%, to $9.9 million, and noninterest expense rose 14%, to $25.8 million.