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MB Financial, Inc. Reports Second Quarter 2012 Net Income Of $22.1 Million, Improved Return On Assets And Return On Equity And Improved Credit Metrics

Net interest income on a fully tax equivalent basis decreased $9.0 million during the first six months of 2012 compared to the first six months of 2011. The decrease from the first six months of 2012 to the first six months of 2011 was due primarily to a decrease in average interest earning assets of approximately $382 million and a five basis point decline in our net interest margin to 3.85% on a fully tax equivalent basis.

See the supplemental net interest margin tables for further detail.

Other Income (in thousands):
    Three Months Ended   Six Months Ended
June 30,   March 31,   December 31,   September 30,   June 30, June 30,   June 30,
  2012       2012       2011       2011       2011       2012       2011  
Core other income:
Loan service fees $ 1,683 $ 1,339 $ 1,601 $ 2,159 $ 2,812 $ 3,022 $ 3,938
Deposit service fees 9,370 9,408 10,085 9,932 9,023 18,778 19,053
Lease financing, net 7,334 6,958 7,801 6,494 6,861 14,292 12,644
Brokerage fees 1,264 1,255 1,577 1,273 1,615 2,519 3,034
Trust and asset management fees 4,535 4,404 4,166 4,272 4,455 8,939 8,886
Increase in cash surrender value of life insurance 870 917 944 1,014 1,451 1,787 2,419
Accretion of FDIC indemnification asset 222 475 683 985 1,339 697 3,170
Card fees 2,429 2,044 1,096 2,071 2,062 4,473 3,850
Other operating income   1,832       2,162       1,632       1,690       1,979       3,994       3,577  
Total core other income   29,539       28,962       29,585       29,890       31,597       58,501       60,571  
 
Non-core other income: (1)
Net gain (loss) on investment securities (34 ) (3 ) 411 - 232 (37 ) 229
Net (loss) gain on sale of other assets (8 ) (17 ) (87 ) - 13 (25 ) 370
Net gain on sale of loans held for sale (A) - - - - 1,790 - 1,790
Net loss recognized on other real estate owned (B) (4,156 ) (4,348 ) (3,620 ) (2,354 ) (3,629 ) (8,504 ) (3,997 )
Net loss recognized on other real estate owned
related to FDIC transactions (B) (1,285 ) (2,241 ) (1,858 ) (764 ) (1,016 ) (3,526 ) (1,020 )
Increase (decrease) in market value of assets held
in trust for deferred compensation (A)   (149 )     501       20       (405 )     158       352       345  
Total non-core other income   (5,632 )     (6,108 )     (5,134 )     (3,523 )     (2,452 )     (11,740 )     (2,283 )
 
Total other income $ 23,907     $ 22,854     $ 24,451     $ 26,367     $ 29,145     $ 46,761     $ 58,288  

(1) Letter denotes the corresponding line items where these non-core other income items reside in the consolidated statements of income as follows: A – Other operating income, B – Net loss recognized on other real estate owned.

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