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Tracking the performance of 24 of the largest financial services companies against analysts' estimates, with links to relevant coverage, filings, releases, and bank benchmark profile data.
July 24
Amcore Financial Inc., a $5.1 billion-asset company in Rockford, Ill., reported a loss of $10.7 million in the second quarter, its sixth consecutive loss.
However, the second-quarter results showed the loss narrowed by half from a year earlier and was one-third the first-quarter loss.
The loss was driven by a provision for loan losses of $17 million, down 58% from a year earlier. The company, which has worked aggressively to rein in credit-quality issues, reported total nonperforming assets of $416 million, or 12.4% of total loans. The amount of nonperforming assets jumped 142% from a year earlier and was up 3% from the first quarter, the slowest rate of growth in problem loans the company has had since the third quarter of 2007, it said.
Net chargeoffs totaled $20.7 million, down 38% from the first quarter.
