Recent Earnings

Bank of America Reports ‘Highest Net Income in Nearly a Decade’

Bank of America reported full-year 2015 net income of $14.4 billion was the “highest annual net income in nearly a decade.” Higher provision charges reflect reserve builds due to energy sector exposure. read more

Wintrust Financial Lease Outstandings Reach $220MM

Wintrust Financial noted in its news release on Q4/15 and full year earnings that its Wintrust Commercial Finance leasing operations grew outstandings by $220 million since its inception in April of 2015. read more

Wells Fargo FY Lease Financing Interest Income Declines as Yields Shrink

Wells Fargo reported FY 2015 interest income of $577 million on lease financing average balances of $12.30 billion was down from $690 million on average balances of $12.26 billion a year earlier as yields dropped from 5.63% to 4.70% year/year. read more

U.S. Bancorp Achieves Record FY 2015 Net Income

U.S. Bancorp reported 2015 full year net income of $5,879 million, which was a record compared to $5,851 million a year earlier. The bank noted the continued stability in its net interest margin of 3.06% and 3.05% in Q4/15 and full year, respectively. read more

PNC Q4 Exceeds Expectations

PNC Financial reported Q4/15 net income was $1.0 billion or $1.87 per share, beating Wall Street expectations of earnings per share of $1.80. read more

PNC Beats Expectations Despite Earnings Decline

PNC Financial reported FY and Q4/15 net income of $4.1 billion and $1.0 billion, respectively was down from $4.2 billion and $1.1 billion for the same periods one-year ago. However, EPS of $1.87 exceeded analysts’ estimates of $1.80. read more

JPMorgan Reports Record FY Earnings, Notes Oil/Gas Related Reserves

JPMorgan Chase reported full-year net income was a record $24.4 billion on revenue of $96.6 billion. The bank noted reserve increases in the Oil & Gas portfolio of $124 million. read more

Deere Q4/FY Sales, Earnings Down on Farm, C/E Sales Decline

Deere & Company said Q4 and full fiscal year sales and earnings were down as a result of weakness in the global markets for farm and construction equipment. Outlook for agriculture in U.S. and Canada to be down 15 to 20% in 2016. read more

NetSol Revenue Jumps 30% in Fiscal Q1/16

NetSol Technologies reported total revenue of $13.3 million at the end of the first fiscal quarter ended September 30, 2015, marking a rise of roughly 30% in revenue compared to the same quarter last year. read more

FLY Leasing Invests $214MM in New Aircraft in Q3/15

Fly Leasing announced its financial results for Q3/15 along with a $100 million share repurchase program. read more

Element Financial Reports YTD Originations of $5.1B

Element Financial reported Q3 and year-to-date originations of $1.9 billion and $5.1 billion, respectively were up 60.9% and 68.7% compared to the same periods one-year ago. read more

Air Lease Reports 23% Increase in Q3 Earnings on Higher Revenues

Air Lease said its Q3/15 earnings of $77.0 million were up 23.4% from $62.4 million a year earlier. Revenues of $313.1 million were up 19.5% compared to Q3/14. Fleet utilization was at 100% at 9/30/15. read more

Air Transport 767 Freighter Leases Drive Revenue Growth

Air Transport Services reported that during the first nine months of 2015 it purchased three 767-300 aircraft, one more than in 2014. The company plans to acquire one additional 767 for deployment with an existing customer. read more

Chesswood Reports Record Q3 Originations in the U.S. and Canada

Chesswood Group announced its results for the three and nine-months ended September 30. Of interest is that the equipment finance businesses Pawnee and Blue Chip registered record originations. read more

Marlin Q3 Volume of $100.5 Million Up 22% Year/Year

Marlin Business Services reported Q3/15 net income of $4.8 million compared to $4.9 million for third quarter 2014. Marlin noted Q3/15 lease and loan volume of $100.5 million was up 22% from $$82.5 million a year earlier. read more

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Terry Mulreany
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