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Profits rose at Bridge Bancorp in Bridgehampton, N.Y., on strong loan growth. The $2.2 billion-asset reported net income of $4.9 million in the third quarter, up 56% from a year earlier.
October 27 -
Independent Bank in Ionia, Mich., reported lower quarterly earnings due to margin pressure and a significantly higher tax expense.
October 27 -
Citizens Financial Group, releasing results for the first time since its initial public offering, said third-quarter profit rose 31% as the bank set aside less money for bad loans. The firm declared a 10-cent quarterly dividend.
October 27
Bank of Hawaii in Honolulu reported
The $14.5 billion-asset company reported that its third-quarter earnings rose 11% from a year earlier, to $41.8 million. Earnings per share of 95 cents topped the average estimate of analysts polled by Bloomberg by 2 cents.
Net interest income rose 5%, to $94.5 million. Increased commercial lending drove growth in the bank's loan portfolio, which increased 10%, to $6.5 billion. The net interest margin expanded by 2 basis points, to 2.85%.
Fee-based income held steady at $45 million, as a reduction in mortgage banking revenue offset gains from the sale of Visa stock.
Noninterest expenses fell 2%, to $81 million.
