Bank of America posted a 37.5 percent decline in first-quarter earnings Friday and named a new chief financial officer. Get the full story »
Inside these posts: Bank earnings
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Feb. 3 at 11:39 a.m.
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Filed under: Banking, Commercial real estate, Earnings, Real estate, Stock activity Old Second Bancorp’s stock falls on 4Q loss
The stock of $2.12 billion-asset Old Second Bancorp Inc. was down 16.6 percent in late morning trading as the troubled Aurora-based lender reported a fourth-quarter loss of $76.6 million, or $5.48 a share. Get the full story »
PrivateBancorp targets toxic commercial real estate loans
PrivateBancorp Inc.’s quarterly profit beat analysts’ estimates as its loan loss provisions halved and the lender expects to reduce its exposure to toxic commercial real estate loans this year.
The bank’s shares rose as much as 7 percent, to a high of $16.09, Tuesday morning on the Nasdaq. They pared some of the gains to close up 1.2 percent, at $15.19, at nearly three times the usual volume. Get the full story »
BofA loses $1.2B in 4Q on mortgage writedowns
Bank of America Corp., the largest U.S. bank by assets, reported a second straight quarterly loss, driven by a $2 billion writedown of its mortgage business. Get the full story »
Wintrust Financial Q3 beats Street
Wintrust Financial Corp. reported a larger-than-expected increase in quarterly profit, helped by a lower provision to cover bad loans.
For the third quarter, net income was $15.2 million, or 47 cents a share, compared with $27.3 million, or $1.07 a share, in the year-ago period. Get the full story »
PNC Financial profit surges as loan losses ease
Regional bank operator PNC Financial Services Group Inc. said Thursday that its third-quarter income nearly doubled as it set aside sharply less money to cover bad loans. Get the full story »
Oct. 21, 2010 at 11:55 a.m.
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Filed under: Banking, Chicago executives, Earnings, Mortgages, Real estate Cole Taylor parent makes first profit in 3 years
Mark Hoppe said it has taken more than 990 days, but the chief executive of Taylor Capital Group Inc. said the parent of Cole Taylor Bank has finally turned a quarterly profit.
“Wow, that feels good,” Hoppe, who joined the Chicago-based company from LaSalle Bank in 2008, told analysts during a conference call Thursday morning to discuss third quarter earnings.
But he said he’s “not standing on an aircraft carrier like George W. Bush did.” Get the full story »
Morgan Stanley posts 3Q loss on special charges
Morgan Stanley became the latest investment bank to report weaker results Wednesday from a trading slowdown during the summer, reporting a net loss during the third quarter as revenue fell 20 percent.
First Midwest stock hit as 3Q results come up short
First Midwest Bancorp Inc., the $8.38 billion-asset parent of First Midwest Bank, missed Wall Street’s expectations for its third-quarter results, sending the Itasca-based lender’s shares down 13.7 percent in mid-afternoon trading.
By some measures, credit trends took a turn for the worse. Get the full story »
Wells Fargo earnings rise to $3.15 billion
Wells Fargo & Co.’s income rose 19 percent in the three months ending in September as losses from failed loans continued to fall.
Wells Fargo’s net income after paying preferred dividends was $3.15 billion, or 60 cents per share, ahead of the 55 cents per share analysts were expecting, the San Francisco bank reported Wednesday. The bank earned $2.64 billion, or 56 cents per share, in the same period a year earlier.
Citi dips into reserves to post 3Q profit
Citigroup Inc. reported its third straight quarterly profit, beating forecasts and boosting optimism that the banking sector is on track to recover even amid a tepid economic expansion.
Relief about the improving results, bolstered by slowing credit losses and reduced reserves for bad loans, outweighed lingering concern about the foreclosure crisis, boosting the bank’s shares nearly 4 percent. Get the full story »
