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MB Financial, Inc. Reports Third Quarter 2012 Net Income Of $23.1 Million And An Increase Of The Quarterly Dividend To $0.10 Per Share

Net interest income on a fully tax equivalent basis decreased $15.4 million during the nine months ended September 30, 2012 compared to the nine months ended September 30, 2011 primarily due to a decrease in average interest earning assets of approximately $300 million and an 11 basis point decline in our net interest margin to 3.79% on a fully tax equivalent basis.

See the supplemental net interest margin tables for further detail.

Other Income (in thousands):

      Three Months Ended   Nine Months Ended
September 30,   June 30,   March 31,   December 31,   September 30, September 30,   September 30,
  2012       2012       2012       2011       2011       2012       2011  
Core other income:
Key fee initiatives:
Capital markets and international banking
service fees $ 1,344 $ 780 $ 507 $ 754 $ 605 $ 2,631 $ 1,107
Commercial deposit and treasury management fees 5,860 5,784 5,901 6,113 6,157 17,545 17,643
Lease financing, net 9,671 7,334 6,958 7,801 6,494 23,963 19,138
Trust and asset management fees 4,428 4,535 4,404 4,166 4,272 13,367 13,158
Card fees   2,385       2,429       2,044       1,096       2,071       6,858       5,921  
Total key fee initiatives 23,688 20,862 19,814 19,930 19,599 64,364 56,967
 
Loan service fees 1,125 1,268 1,066 1,069 1,706 3,459 5,286
Retail and other deposit service fees 3,792 3,541 3,457 3,926 4,123 10,790 12,373
Brokerage fees 1,185 1,264 1,255 1,577 1,273 3,704 4,307
Increase in cash surrender value of life insurance 890 870 917 944 1,014 2,677 3,433
Accretion of FDIC indemnification asset 204 222 475 683 985 901 4,155
Net gain on sale of loans 575 554 374 366 190 1,503 451
Other operating income   408       958       1,604       1,090       1,000       2,970       3,489  
Total core other income   31,867       29,539       28,962       29,585       29,890       90,368       90,461  
 
Non-core other income: (1)
Net gain (loss) on investment securities 281 (34 ) (3 ) 411 - 244 229
Net (loss) gain on sale of other assets (12 ) (8 ) (17 ) (87 ) - (37 ) 370
Net gain on sale of loans held for sale (A) - - - - - - 1,790
Net loss recognized on other real estate owned (B) (4,151 ) (4,156 ) (4,348 ) (3,620 ) (2,354 ) (12,655 ) (6,351 )
Net gain (loss) recognized on other real estate
owned related to FDIC transactions (B) 213 (1,285 ) (2,241 ) (1,858 ) (764 ) (3,313 ) (1,784 )
Increase (decrease) in market value of assets held
in trust for deferred compensation (C)   355       (149 )     501       20       (405 )     707       (60 )
Total non-core other income   (3,314 )     (5,632 )     (6,108 )     (5,134 )     (3,523 )     (15,054 )     (5,806 )
 
Total other income $ 28,553     $ 23,907     $ 22,854     $ 24,451     $ 26,367     $ 75,314     $ 84,655  

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

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