MB Financial Inc. of Chicago said Friday that its first-quarter earnings rose 17.7% from the same quarter last year, to $17.2 million.
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The $5.3 billion-asset company's diluted earnings per share rose 11.3%, to 59 cents, or 2 cents below the average analyst's estimate.
MB attributed the increase to growth in its construction, commercial real estate, and commercial loans, which pushed net interest income up 21.2%, to $43.7 million.
Noninterest income fell 6.4%, because of falling brokerage fees and reduced gains on the sale of securities.
MB also said it expects an increase in noninterest expenses in the second half, because it plans to add services and extend hours at retail branches.
