This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Capital Bank Financial Corp. Reports Third-Quarter 2012 Results

"Looking ahead, we are fully focused on increasing the Company's profitability. We have initiatives under way intended to grow earning assets and boost fee income organically, and to improve our efficiency ratio. Additionally, we continue to evaluate acquisition opportunities that meet our strategic and financial objectives."

Financial Discussion

The Company's banking operations began with the acquisitions of three banks from the FDIC on July 16, 2010 and subsequently included the acquisitions of TIB Financial Corp. on September 30, 2010, Capital Bank Corporation on January 28, 2011, Green Bankshares, Inc on September 7, 2011 and Southern Community on October 1, 2012. Accordingly, operating results for the three and nine months ended September 30, 2011 are not generally comparable to the current year operations.

Loan Portfolio Composition

At September 30, 2012, commercial real estate loans were 32% of the total portfolio, down from 35% at December 31, 2011, consistent with our portfolio diversification strategy.

The relative composition of our loan portfolio was as follows:
  September 30, 2012 December 31, 2011
Commercial real estate 32% 35%
Commercial 36% 32%
Consumer 30% 31%
Other 2% 2%
Total 100% 100%

Net Interest Income

Net interest income for the third quarter of 2012 decreased by approximately $3.0 million, or 4.7%, to $60.3 million, from $63.3 million for the second quarter of 2012 and increased $6.1 million, or 11.3%, from the third quarter of 2011. The main driver of the decline in net interest income for the quarter was the reduction in interest earning assets, which fell to $5.4 billion from $5.6 billion, led by problem loan resolutions and strategic repayments, as noted above, partially offset by continuation of a deleveraging strategy, which reduced wholesale borrowings by approximately $67.5 million.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs