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WesBanco in Wheeling, W. Va., reported higher quarterly net income because of loan growth and a lower cost of funds.
July 24 -
United Financial Bancorp in Glastonbury, Conn., reported a second-quarter loss largely tied to the costs of merging with Rockville Financial.
July 23
Texas Capital Bancshares in Dallas reported higher quarterly profit, fueled by an increase in the size and quality of its loan portfolio.
The $13.5 billion-asset company's profit rose 39% from a year earlier, to $33.4 million. Earnings of 71 cents a share were 3 cents higher than the average estimate of analysts polled by Bloomberg.
Loan growth lifted earnings, despite lower yields. Total loans increased 24%, to $12.9 billion. The net interest margin compressed by 32 basis points, to 3.87%.
Improved asset quality also contributed to the profit. The company slashed its loan-loss provision by 75%, $4 million. Net chargeoffs increased 5%, to $2.5 million.
Noninterest income fell 5%, to $10.5 million, partially because of lower brokered loan fees.
Noninterest expenses increased 2%, to $69.8 million.
