MB Financial in Chicago said its first-quarter profit rose 15.6% from a year earlier as fee income rose and expenses fell.
The $15.6 billion-asset company reported net income of $37.1 million. Earnings per share of 54 cents per share topped the average estimate of analysts polled by Bloomberg by 2 cents.
Net interest income rose 3.04% to $111.7 after a provision for loan losses.
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Randy Conte, the $15.6 billion-asset bank's chief operating officer, will become chief financial officer on April 30 and remain operating chief.
March 4 -
MB Financial in Chicago has agreed to buy American Chartered Bancorp in Chicago.
November 23 -
MB Financial in Chicago has agreed to buy an asset management firm.
October 29
Noninterest income rose 0.49% to $81.7 million. Lease financing revenue fell 32.1%, but mortgage banking revenue rose, and fee income increased for commercial deposit and treasury management, capital markets and international banking services, trust and asset management and loan service.
Noninterest expense fell 2.93% to $135.8 million on "branch exit" and facilities impairment charges, the company said in a press release Monday.
