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Regional banks are reporting strong commercial loan growth as they have for so many quarters. Yet this time it looks like more of the growth is coming from existing clients, and there are also some early warnings about credit challenges.
July 21 -
Citizens Financial Group in Providence, R.I., showed strong consumer loan growth in the second quarter but fell slightly short of analysts' quarterly estimates as its margins declined.
July 21 -
The Pennsylvania company is keen on buying a bank with $1 billion or more in assets to soundly cross a threshold that would bring with it more regulatory scrutiny.
April 24
National Penn Bancshares in Allentown, Pa., said its second-quarter profit improved as increased real estate lending offset higher expenses.
The $9.6 billion-asset company's net income rose 3.8% to $27.2 million, or 19 cents per share, from a year earlier. That met the average estimate of analysts polled by Bloomberg.
Net interest income rose 6.2% to $66.8 million. Total loans rose 14% to $6.1 billion. Commercial real estate, National Penn's largest lending category, rose 14% to $2.3 billion. Residential mortgage, the second-largest category, rose 27% to $1.5 billion. The net interest margin compressed 19 basis points to 3.24%.
Fee income rose 1.2% to $24.7 million as higher mortgage banking revenue, cash management and electronic banking fees and bank-owned life insurance offset lower wealth management fees.
Noninterest expense rose 3.5% to $53.9 million on higher costs for salaries, premises and equipment and FDIC insurance.
