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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, releases, and bank benchmark profile data can be found in the Related Links area of each article.
April 26
After selling a large chunk of its nonperforming assets in the fourth quarter, State Bancorp Inc. in Jericho, N.Y., returned to profitability in the first quarter.
The $1.6 billion-asset company announced last week that it earned $3 million in the first quarter, compared with a loss of $5.1 million a year earlier and a loss of $12.7 million in the fourth quarter, when the company sold $22 million of its problem loans.
At the end of the quarter, nonaccrual loans totaled $6 million, or 0.5% of total loans, down 78% from a year earlier. The fewer problem loans also dropped the company's provision for loan losses by 77% to $2.3 million.
State Bancorp also said that during the quarter it submitted two bids for failed banks, spending as much as $250,000 on loan reviews for the failed banks. Neither bid was accepted, but the company said it planned to continue to explore acquisitions.
