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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, and releases can be found in the Related Links area of each article.
January 28
Signature Bank in New York said Tuesday that it had earned $30.3 million in the fourth quarter, up 44% from a year earlier.
Earnings of 72 cents a share, beat the average of analysts' estimates by 8 cents, according to Thomson Reuters.
The $11.6 billion-asset company said its net interest income rose 26.6% from a year earlier, to $95.9 million, as average earning assets grew by a similar percentage. The net interest margin edged up 2 basis points from a year earlier, to 3.5%.
Positive results were partially offset by higher credit costs. Signature took a loan-loss provision of $13.6 million, nearly a 15% rise from a year earlier. The bank said the increase was due to higher net chargeoffs, which totaled $14.6 million in the quarter, including $10 million for a commercial and industrial loan.
Signature said the chargeoff was prompted by an overdraft involving a "Canadian check-clearing incident which we are disputing."
