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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.
October 28
MB Financial Inc. in Chicago on Friday posted a third-quarter loss of $5.4 million compared with earnings of $4.9 million a year earlier and blamed continued high credit costs.
The $10.6 billion-asset company's provision for loan losses was $65 million, down 23% from the second quarter but 44% higher than a year earlier.
MB Financial has been working aggressively to wind down a portfolio of construction and development loans.
As of Sept. 30, its nonperforming loans totaled $452 million, or 4.26% of total loans. This was up 16% from the second quarter and 46% from a year earlier.
Despite its credit problems, MB has ample capital. Its bank unit had a total risk-based capital ratio of 17.14%.
The company has been a frequent buyer of failed banks in recent years.
The bargain-purchase gains associated with such transactions have boosted earnings in other quarters.
For instance, in the second quarter, MB reported earnings of $16.6 million, largely driven by a $62.6 million bargain-purchase gain associated with its acquisitions of Broadway Bank and New Century Bank.
