-
S&T Bancorp in Indiana, Pa., reported higher quarterly profit that benefited from loan growth and improved asset quality.
October 28 -
Bank of Hawaii in Honolulu reported higher quarterly profit due to strong loan growth.
October 27 - WIB PH
Sandy Pierce is a lifelong Detroit resident who has the chance to help her hometown in a way that few bankers ever get. The FirstMerit vice chairman leads the board overseeing the distressed city's turnaround plan.
September 22
FirstMerit in Akron, Ohio, reported higher quarterly profit that
The $24.6 billion-asset company's third-quarter net income rose 7% from the second quarter and 57% from a year earlier, to $63.8 million. Earnings per share of 37 cents were in line with the average estimate of analysts polled by Bloomberg.
Net interest income fell 5% from a year ago, to $193.6 million. Total loans increased by 7%, to $15.1 billion, and the net interest margin compressed by 45 basis points, to 3.60%.
Fee-based income fell by 2%, to $69.7 million, mainly because of lower service charges on deposits.
Noninterest expenses fell 3% from the second quarter and 23% from a year earlier, to $163.1 million. The year-over-year comparison is skewed, in part, by integration costs tied to the company's April 2013 purchase of the $9.3 billion-asset Citizens Bank.