Cardinal Financial Corp. in McLean, Va., said Friday that it probably incurred a goodwill impairment charge of $2.6 million in the fourth quarter.
The $2.1 billion-asset company said in a securities filing that the noncash charges stemmed from an annual review and were tied to assets in its wealth management and trust services division. "The impairment charge would not impact the company's nor its subsidiary bank's ability to maintain capital ratios significantly above the 'well-capitalized' regulatory requirements," according to the filing.
Cardinal gave no other guidance for the fourth quarter. Analysts expect the company to earn 18 cents a share.