Regional - Midwest Banks
(HBAN) Huntington Bancshares Incorporated Misses Expectations – Loan Loss Provisions Rise
Huntington Bancshares Incorporated (HBAN) reported a fourth quarter loss of 56 cents per share. Excluding the impact of significant items, the company incurred a loss of 65 cents in the quarter. Results were well below the Zacks Consensus Estimate of a loss of 28 cents. However,...
23Jan2010 | vitalstocks | 0 comments | Continued(FITB) Fifth Third Bancorp Reduces Loss – Beats Expectations
Fifth Third Bancorp (FITB) has reported a fourth quarter loss of 20 cents per share. Results are well ahead of the Zacks Consensus Estimate of a loss of 31 cents. The company had incurred a loss of $3.78 per share a year earlier. The results were driven by an improvement in credit...
21Jan2010 | vitalstocks | 0 comments | Continued(CMA) Comerica’s Report Tops Consensus Estimates
Comerica Inc. (CMA) posted fourth-quarter results before the opening bell today. The company reported a net loss of $62 million, or 41 cents per share, compared to a net income of $3 million, or 2 cents per share in the year-ago period. However, the quarterly results came in...
21Jan2010 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Corporation’s Report Falls Short
Marshall & Ilsley Corporation (MI) reported a 2009 fourth quarter net loss of $259.5 million, or 54 cents per share, as compared to a net loss of $1,891.7 million, or $7.25 per share, in the fourth quarter of 2008. M&I’s average loans and leases totaled $45.3 billion...
20Jan2010 | vitalstocks | 0 comments | Continued(NTRS) Northern Trust Corporation Outdoes Consensus
Northern Trust Corporation’s (NTRS) fourth quarter earnings of 82 cents per share were ahead of the Zacks Consensus Estimate of 67 cents. Last year, the company reported a gain of $1.47 per share. Net income was $200.3 million versus $342.3 million last year. Earnings were...
20Jan2010 | vitalstocks | 0 comments | Continued(USB) US Bancorp Outdoes Consensus Expectations
US Bancorp (USB) has reported fourth quarter earnings of $602 million or 30 cents per share, 2 cents ahead of the Zacks Consensus Estimate. Results were driven by higher revenue. Results were flat compared to the prior quarter and up from the year-ago quarter when the company...
20Jan2010 | vitalstocks | 0 comments | Continued(USB) US Bancorp Earnings Preview
US Bancorp (USB) is scheduled to release its fourth quarter and full year 2009 financial results prior to the market open Wednesday, Jan. 20. According to the Zacks Consensus Estimate, US Bancorp will report earnings of 28 cents per share for the fourth quarter and 96 cents per...
19Jan2010 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Corporation Restricts Bonuses for Bailout Program
Marshall & Ilsley Corp. (MI), commonly known as M&I, said in a regulatory filing on Tuesday that it is restricting cash bonuses for its executives in 2009 to fall in line with the terms of the federal bailout program. Some executive benefits such as bonuses, stock option...
30Dec2009 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Extends Foreclosure Suspension
On Tuesday, Marshall & Ilsley Corp. (MI), commonly known as M&I, announced the extension of its foreclosure moratorium term by an additional 90-day period. The moratorium was initiated on Dec 18, 2008, as a part of the Homeowner Assistance Program. The foreclosure suspension...
27Dec2009 | vitalstocks | 0 comments | Continued(MI) Moody’s Lowers Credit Ratings of Marshall & Ilsey
Recently, Moody’s Investors Service lowered the ratings of Marshall & Ilsley Corp. (MI) and its subsidiaries. The rating agency also lowered its outlook on the ratings to negative. The company’s senior debt was downgraded by one notch to “Baa1″ (lower...
8Dec2009 | vitalstocks | 0 comments | Continued(USB) U.S. Bancorp to Sell 3 Texas Banks
U.S. Bancorp (USB) announced on Wednesday that its lead bank, U.S. Bank National Association is planning to sell the three Texas banks that were recently acquired from the Federal Deposit Insurance Corporation (FDIC) as part of the acquisition of the banking subsidiaries of FBOP...
28Nov2009 | vitalstocks | 0 comments | Continued($USB) U.S. Bank Failures Zoom to 115 in 2009
Regulators shut down 9 more banks, including California National Bank; total failed banks in ‘09 reach 115 Bank failures continue unabated as U.S. regulators on Friday closed down nine more banks, including California National Bank of Los Angeles. The failed banks were...
2Nov2009 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Reports Loss
Marshall & Ilsley Corp.’s (MI) third-quarter loss of 68 cents per share was in line with the company’s forecast earlier this month as well as the Zacks Consensus Estimate. Also, this compares unfavorably with the earnings of 32 cents per share in the prior-year quarter. The...
22Oct2009 | vitalstocks | 0 comments | Continued(USB) US Bancorp Exceeds Consensus Estimates
US Bancorp (USB) has reported third quarter earnings of $603 million or 30 cents per share. Results were ahead of the Zacks Consensus Estimate of 26 cents, and reflected higher revenue and an increase in fee income. However, credit losses and nonperforming assets continued to...
21Oct2009 | vitalstocks | 0 comments | Continued(NTRS) Northern Trust Corporation Misses Earnings Estimates
Northern Trust Corporation’s (NTRS) second quarter earnings of 72 cents per share were below the Zacks Consensus Estimate of 84 cents. Last year, the company reported a loss of 56 cents per share. Net income was $187.9 million versus a net loss of $148.3 million last year. Net...
21Oct2009 | vitalstocks | 0 comments | Continued(CMA) Comerica 3Q Losses Easing
Comerica Inc. (CMA) reported third quarter 2009 net loss applicable to common shareholders of $15.0 million or 10 cents per share compared to a net loss of $16.0 million or 10 cents per share in the prior quarter and a net income of $28.0 million or 19 cents per share in the...
20Oct2009 | vitalstocks | 0 comments | Continued(USB) U.S. Bancorp to Acquire a Part of BB&T
U.S. Bancorp (USB) has signed a deal with BB&T Corp. (BBT) to acquire the latter’s banking operations in Nevada . As per the agreement, U.S. Bank National Association, U.S. Bancorp’s lead bank, will purchase about $800 million in deposits and certain branches of BB&T’s...
15Oct2009 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Expects Quarterly Loss
Marshall & Ilsley Corp. (MI) said on Tuesday that it anticipates a third-quarter loss due primarily to a higher loan loss provision for bank holding company loans. The company expects to report a loss of 68 cents to 70 cents per share for the quarter as its allowance for...
9Oct2009 | vitalstocks | 0 comments | Continued($USB) US Bancorp on Acquisition Spree
As part of its strategic acquisitions, US Bancorp (USB) has announced on Wednesday that its lead bank, U.S. Bank, has agreed to buy the bond trustee business of First Citizens Bank, a subsidiary of First Citizens BancShares Inc. (FCNCA). Post acquisition, U.S. Bank’s corporate...
9Oct2009 | vitalstocks | 0 comments | Continued(HBAN) U.S. Bank Failure Tally Reaches 98
The recession continues to weigh heavily on banks as U.S. regulators on Friday shuttered three more banks in Michigan, Minnesota and Colorado. This takes the total number of failed federally insured banks this year to 98, compared to 25 in 2008 and 3 in 2007. The failed banks...
6Oct2009 | vitalstocks | 0 comments | Continued(USB) US Bank Easing Overdraft Penalties
US Bank, a subsidiary of Minneapolis-based U.S. Bancorp (USB), has recently announced easing of its overdraft penalties. The bank is modifying its service charge policies for checking accounts which will become effective in the first quarter of 2010. U.S. Bank will eliminate...
3Oct2009 | vitalstocks | 0 comments | Continued(FITB) Fifth Third Bancorp Eyeing Higher Charge-offs
Fifth Third Bancorp (FITB) expects its loan charge-offs to increase in the third quarter, primarily due to the increase in charge-offs associated with the Shared National Credit (SNC) examination that has been recently conducted by regulators. “The company, which intends...
3Oct2009 | vitalstocks | 0 comments | Continued($FITB) Fifth Third Bancorp Eyes Federal Deposit Insurance Corporation Deals
Fifth Third Bancorp (FITB) is planning to acquire banks with the assistance of the Federal Deposit Insurance Corporation (FDIC). The company intends to expand within its operating footprint instead of venturing beyond that. While the company has already evaluated some of the...
24Sep2009 | vitalstocks | 0 comments | Continued(HBAN) Huntington Bancshares Offers $400 Million Public Offering
Last Friday Huntington Bancshares Incorporated (HBAN) has commenced a public offering of $400 million worth of common shares to strengthen its common equity position. The company has priced 95.2 million shares of its common stock at $4.20 per share. Additionally the underwriters...
23Sep2009 | vitalstocks | 0 comments | Continued(FITB) Fifth Third Bancorp Charge-Offs to Increase
Fifth Third Bancorp (FITB) expects its loan charge-offs to increase in the third quarter primarily due to the increase in charge-offs associated with the Shared National Credit (SNC) examination which has been recently conducted by regulators. The company also expects its non-performing...
18Sep2009 | vitalstocks | 0 comments | Continued(MBFI) Corus Bankshares Fails – 92 Total This Year
Regulators shut down 3 more banks including Corus; total failed banks in ‘09 reach 92 Three more banks including Corus Bank NA, a subsidiary of Corus Bankshares (CORS), were shuttered by the U.S. regulators on Friday as the recession continues to take its toll on banks....
14Sep2009 | vitalstocks | 0 comments | Continued($USB) US Bancorp Backs CA IOUs
US Bancorp (USB) on Friday said it will start accepting California state-issued IOUs or registered warrants from customers as deposit from Sept. 8. It will receive IOUs till the close of business on Friday, Oct. 9 and credit interest owed on the IOUs to customers’ accounts...
8Sep2009 | vitalstocks | 0 comments | Continued(USB) US Bancorp Issues Senior Notes
On Sept. 2, 2009, US Bancorp (USB) announced the sale of 3.5 year senior notes worth $350 million. The size of the deal represents a 40% increase from the originally planned $250 million. Barclays (BCS) acted as the sole book-runner for the sale of these notes. The notes carry...
3Sep2009 | vitalstocks | 0 comments | Continued