MB Financial Inc. (MBFI, Financial) filed Quarterly Report for the period ended 2012-06-30.
Mb Financial, Inc. has a market cap of $1.11 billion; its shares were traded at around $20.1 with a P/E ratio of 14.8 and P/S ratio of 2.3. The dividend yield of Mb Financial, Inc. stocks is 0.2%.
Net interest income on a tax equivalent basis was $79.2 million for the three months ended June 30, 2012, a decrease of $6.0 million, or 7.1%, from $85.2 million for the comparable period in 2011. The decrease was primarily due to a decline in the level of interest earning assets of $403.2 million and a nine basis point decline in the net interest margin on a fully tax equivalent basis. See Net Interest Margin section below for further analysis.
Net interest income on a tax equivalent basis was $79.2 million for the three months ended June 30, 2012, a decrease of $6.0 million, or 7.1%, from $85.2 million for the comparable period in 2011. The decrease in net interest income was due to a lower level of average interest earning assets, which declined $403.2 million from June 30, 2011, and a nine basis point decrease in net interest margin on a fully tax equivalent basis. The decrease in average interest earning assets was due to the second quarter of 2011 loan sale discussed earlier as well as soft loan demand and paydowns as a result of credit remediations during the first six months of 2012. The net interest margin on a fully tax equivalent basis during the second quarter of 2012 was 3.83% compared to 3.92% during the second quarter of 2011. The decrease in the margin was a result of lower yields on interest earning assets, as balances shifted from loans (both covered and non-covered) to investment securities and yields on covered loans declined. The decrease
Net interest income on a tax equivalent basis was $161.0 million for the six months ended June 30, 2012, a decrease of $9.0 million, or 5.3%, from $170.0 million for the comparable period in 2011. The decrease in net interest income was due to a lower level of average interest earning assets which declined $382.4 million from June 30, 2011 and a five basis point decrease in the net interest margin on a fully tax equivalent basis. The net interest margin on a fully tax equivalent basis during the first six months of 2012 was 3.85% compared to 3.90% during the first six months of 2011. The decrease in the margin was a result of lower yields on interest earning assets, as
Total assets decreased $343.5 million, or 3.5%, from $9.8 billion at December 31, 2011 to $9.5 billion at June 30, 2012. Interest earning cash increased $203.7 million to $304.1 million at June 30, 2012 compared to $100.3 million at December 31, 2011 as a result of the decreases in investment securities and loans. Investment securities decreased $226.7 million from December 31, 2011 to June 30, 2012 primarily due to cash flows on mortgage-backed securities. Total loans, excluding covered loans and loans held for sale decreased by $118.0 million, or 2.2%, to $5.2 billion at June 30, 2012 from $5.3 billion at December 31, 2011 due to soft loan demand coupled with intense competition for new loans. In addition, there were paydowns on construction and commercial real estate loans as a result of successful credit remediation.
Read the The complete Report
Mb Financial, Inc. has a market cap of $1.11 billion; its shares were traded at around $20.1 with a P/E ratio of 14.8 and P/S ratio of 2.3. The dividend yield of Mb Financial, Inc. stocks is 0.2%.
Highlight of Business Operations:
The Company had net income and net income available to common stockholders of $22.1 million for the second quarter of 2012 compared to a net loss of $7.4 million and net loss available to common stockholders of $10.0 million for the second quarter of 2011. Our 2012 second quarter results generated an annualized return on average assets of 0.94% and an annualized return on average common equity of 7.28% compared to (0.30)% and (3.43)%, respectively, for the same period in 2011. Fully diluted earnings per common share for the second quarter of 2012 were $0.41 compared to fully diluted loss per common share $0.18 in the 2011 second quarter. The results for the second quarter of 2011 include a provision for credit losses of approximately $50 million in connection with the sale during the second quarter of 2011 of loans with an aggregate carrying amount of $281.6 million prior to the transfer to loans held for sale, including $156.3 million in non-performing loans.Net interest income on a tax equivalent basis was $79.2 million for the three months ended June 30, 2012, a decrease of $6.0 million, or 7.1%, from $85.2 million for the comparable period in 2011. The decrease was primarily due to a decline in the level of interest earning assets of $403.2 million and a nine basis point decline in the net interest margin on a fully tax equivalent basis. See Net Interest Margin section below for further analysis.
Net interest income on a tax equivalent basis was $79.2 million for the three months ended June 30, 2012, a decrease of $6.0 million, or 7.1%, from $85.2 million for the comparable period in 2011. The decrease in net interest income was due to a lower level of average interest earning assets, which declined $403.2 million from June 30, 2011, and a nine basis point decrease in net interest margin on a fully tax equivalent basis. The decrease in average interest earning assets was due to the second quarter of 2011 loan sale discussed earlier as well as soft loan demand and paydowns as a result of credit remediations during the first six months of 2012. The net interest margin on a fully tax equivalent basis during the second quarter of 2012 was 3.83% compared to 3.92% during the second quarter of 2011. The decrease in the margin was a result of lower yields on interest earning assets, as balances shifted from loans (both covered and non-covered) to investment securities and yields on covered loans declined. The decrease
Net interest income on a tax equivalent basis was $161.0 million for the six months ended June 30, 2012, a decrease of $9.0 million, or 5.3%, from $170.0 million for the comparable period in 2011. The decrease in net interest income was due to a lower level of average interest earning assets which declined $382.4 million from June 30, 2011 and a five basis point decrease in the net interest margin on a fully tax equivalent basis. The net interest margin on a fully tax equivalent basis during the first six months of 2012 was 3.85% compared to 3.90% during the first six months of 2011. The decrease in the margin was a result of lower yields on interest earning assets, as
Total assets decreased $343.5 million, or 3.5%, from $9.8 billion at December 31, 2011 to $9.5 billion at June 30, 2012. Interest earning cash increased $203.7 million to $304.1 million at June 30, 2012 compared to $100.3 million at December 31, 2011 as a result of the decreases in investment securities and loans. Investment securities decreased $226.7 million from December 31, 2011 to June 30, 2012 primarily due to cash flows on mortgage-backed securities. Total loans, excluding covered loans and loans held for sale decreased by $118.0 million, or 2.2%, to $5.2 billion at June 30, 2012 from $5.3 billion at December 31, 2011 due to soft loan demand coupled with intense competition for new loans. In addition, there were paydowns on construction and commercial real estate loans as a result of successful credit remediation.
Read the The complete Report
