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City National in Los Angeles reported a sharp rise in profits in the second quarter, fueled by loan growth and an increase in fee revenue.
July 24 -
BankUnited in Miami Lakes, Fla., reported lower quarterly profit because of rising noninterest expenses and a higher loan-loss provision.
July 24
Hancock Holding in Gulfport, Miss.,
The $19 billion-asset company's second-quarter profits fell 15% from a year earlier, to $40 million. Earnings of 48 cents a share missed the average estimate of analysts polled by Bloomberg by 10 cents.
Weak loan yields contributed to the loss. Net interest income fell 3%, to $164 million, even though total loans rose 10%, to $12.9 billion. The net interest margin compressed by 18 basis points, to 3.99%.
Asset quality improved. Hancock trimmed its loan-loss provision by 19%, to $6.7 million.
Noninterest income fell 12%, to $56.4 million. The company attributed the drop to the sale of certain insurance units. Hancock in April
Noninterest expenses fell 11%, to $144 million.
