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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
October 28
West Coast Bancorp in Lake Oswego, Ore., reported net income Friday of $6.1 million in the third quarter, making it the company's first profitable quarter in more than two years.
The $2.5 billion-asset company attributed the earnings to lower credit costs as nonperforming assets declined for a sixth consecutive quarter.
A higher net interest margin, lower-cost funding and a growing core deposit base contributed to the swing to profit, Chief Executive Officer Robert Sznewajs said in a press release.
West Coast's third-quarter performance put the company in the black for the year, with aggregate earnings of $1.3 million to date.
It lost $12.4 million in the third quarter of 2009.
The Oregon company reduced its provision for loan losses by 92.6%, to $1.5 million, from $20.3 million the year earlier.
Nonperforming assets fell 50% from a year earlier, to $104.4 million, or 4.2% of total assets, compared with 7.9% at Sept 30, 2009.
