MB Financial, Inc. Reports 2013 Annual Net Income Of $98.5 Million And Return On Assets Of 1.05%

MB Financial, Inc. (NASDAQ: MBFI), the holding company for MB Financial Bank, N.A., today announced 2013 fourth quarter net income of $23.9 million and 2013 annual net income of $98.5 million.

"We ended the year on a positive note, with robust commercial loan growth and strong core earnings," stated Mitchell Feiger, President and Chief Executive Officer of the Company. "Our return on assets increased to 1.05% in 2013 compared to 0.95% for the prior year, driven by significant increases in revenues from our fee businesses and low credit costs. We remain focused on executing our business strategy while planning our pending merger with Taylor Capital. We look forward to an exciting 2014."

Net income, net income available to common stockholders and fully diluted earnings per share were as follows (quarterly percentage changes are not annualized throughout the document):
      Change     Change         Change
from from from
3Q13 to 4Q12 to 2012 to
4Q13 3Q13 4Q13 4Q12 4Q13 2013 2012 2013
(dollars in thousands, except per share data)
Net income $ 23,856 $ 24,400 -2.2% $ 24,012 -0.6% $ 98,455 $ 90,374 +8.9%
Net income available to common stockholders 23,856 24,400 -2.2 24,012 -0.6 98,455 87,105 +13.0
Fully diluted earnings per share 0.43 0.44 -2.3 0.44 -2.3 1.79 1.60 +11.9

Results for the fourth and third quarters of 2013 reflected $724 thousand and $1.8 million, respectively, in legal and professional costs related to our pending merger with Taylor Capital Group, Inc., totaling $2.5 million for the year.

If you liked this article you might like

20 Mid-Cap Dividend Growers Are Blips on My Tracking Radar

Analysts' Actions -- Kinder Morgan, AT&T, Verizon, 3M and More

Insider Trading Alert - QCOM, MBFI And IIIN Traded By Insiders

Ex-Dividend Alert: 3 Stocks Going Ex-Dividend Monday: JTD, CII, MBFI

Doha Oil Talks Fail: What It Means for the Markets in the Week Ahead