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

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

Revenue from our key fee initiatives increased by $2.8 million (+13.5%) from the second quarter of 2012 to the third quarter of 2012 primarily due to the growth in our capital markets and international banking services and leasing revenues. Capital markets and international banking service fees increased due primarily to an increase in interest rate swap fees. Net lease financing income increased as a result of higher promotional and remarketing income, as well as increased sales of equipment maintenance contracts. Retail and other service fees increased as a result of the increase in NSF and overdraft fees. Other operating income decreased due to lower income from low income housing partnerships. Non-core other income was primarily impacted by lower losses recognized on OREO.

Revenue from our key fee initiatives increased by $7.4 million (+13.0%) for the nine months ended September 30, 2012 compared to the nine months ended September 30, 2011. Capital markets and international banking service fees increased due to an increase in interest rate swap fees and an increase in our international banking activities. Net lease financing income increased as a result of higher promotional and remarketing income, as well as increased sales of equipment maintenance contracts. Card fee income increased due primarily to fees earned on prepaid cards and credit cards. These increases were offset by the decreases in loan service fees, retail and deposit service fees and accretion of FDIC indemnification asset. Loan service fees decreased due to a decrease in prepayment and exit fees. Retail and deposit service fees decreased due to a decrease in NSF fees. Accretion of FDIC indemnification asset decreased $3.3 million as expected. Accretion is recorded based on the FDIC indemnification asset balance which has declined as we have received loss-share payments. Non-core other income was primarily impacted by higher losses recognized on OREO.

3 of 15

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs