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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
First Niagara Financial Corp. said Monday that its first-quarter earnings rose 51.6%, to $32.6 million.
The Buffalo company reported assets of $15 billion as of March 31, though its acquisition of Harleysville National Corp. on April 9 boosted assets to $20 billion, according to a press release.
First Niagara's provision for loan losses rose 49% year over year, to $13.1 million. The fourth-quarter provision was $11 million.
Net loan chargeoffs totaled $12 million, compared with $7 million in the first quarter of 2009, primarily as a result of one loan that was liquidated after having been in nonaccrual status for the past two quarters.
Nonperforming assets stood at $84.7 million on March 31, up 56.8% from a year earlier. This was primarily attributed to the addition of two commercial loans, the company said.
Deposits rose 58%, commercial loan balances 15% and capital levels at the company's thrift unit remained strong. As of March 31 it had a Tier 1 risk-based capital ratio of 17.5%, a total risk-based capital ratio of 18.6% and a leverage ratio of 10.1%.
