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Square 1 Financial in Durham, N.C., followed a simple formula in the third quarter: loan growth equals higher profits.
October 24 -
FCB Financial Holdings, in Weston, Florida, reported a $3.4 million loss in the third quarter that relected costs tied to its initial public offering.
October 24 -
Hancock Holding in Gulfport, Miss., reported a sharp rise in third-quarter profit, reflecting efforts to cut costs.
October 24
Tompkins Financial in Ithaca, N.Y., reported slightly
The $5 billion-asset company's earnings fell 2% from a year earlier, to $13.8 million. Earnings per share of 92 cents beat the average estimate of analysts polled by Bloomberg by 5 cents.
Noninterest expenses climbed 3%, to $38.5 million, mainly from higher salary costs. Lower fee-based revenue also contributed to the third-quarter decline, falling 5%, to $17.5 million.
Net interest income rose 3%, to $41.6 million. Total loans increased 4.4%, to $3.2 billion, while the net interest margin compressed by 5 basis points, to 3.58%.
