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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, and releases can be found in the Related Links area of each article.
January 28
National Penn Bancshares Inc. in Boyertown, Pa., said Thursday that net income fell 36% in the fourth quarter from a year earlier but asset quality trends continued to improve.
The $8.8 billion-asset company earned $6.6 million, or 5 cents a share, in the quarter. For the full year, National Penn earned $13.3 million, compared with a $356.4 million loss in 2009. The fourth-quarter results included a negative $1.3 million fair-value adjustment of the company's trust preferred securities, and a $5.5 million tax expense tied to the sale of its Christiana Bank and Trust unit.
The loan-loss provision fell 63% from a year earlier, to $17.5 million, and net chargeoffs were off 24% from the year earlier, at $20 million. Nonperforming assets declined 30% from a year earlier, to $91.3 million at Dec. 31.
