Recent Earnings

M&T Bank Reports 25% Q4 Earnings Increase; Meets Profit Forecast

M&T Bank said Q4/14 net income of $277.5 million was up 25% compared with $221.4 million in Q4/13. EPS of $1.95 more than met analysts’ forecasts of $1.94 per share. read more

Regions Financial Q4 Earnings Miss Expectations

Regions Financial announced Q4 earnings of $195 million or $0.14 per share, down from $219 million a year earlier. Analysts polled by Thompson Reuters expected EPS of $0.21 per share for the quarter. read more

SunTrust Q4 Income Down 8% Following $145MM Mortgage Expense

SunTrust Banks reported net income of $378 million for Q4/14 compared to net income of $413 million the same quarter one year ago. The results include a $145 million legal provision related to legacy mortgage matters. read more

PNC Q4 Earnings Flat Y/Y at $4.2B

PNC Financial Services reported 2014 net income of $4.2 billion was flat compared with 2013 net income of $4.2 billion. read more

Bank of America FY Earnings Off 58% on $16.4B of Litigation Costs

Bank of America reported full year net income was $4.8 billion, down 58% from $11.4 billion a year earlier. The bank noted its litigation expense of $16.4 billion in 2014 was up from $6.1 billion a year earlier. read more

Citigroup Q4, FY Earnings Hurt by RMBS/CDO Costs

Citigroup reported Q4/14 and FY 2014 net income of $350 million and $7.3 billion, respectively, were down from $2.5 billion and $13.7 billion in the same prior year periods amid legal costs that were substantially higher year/year. read more

Wells Fargo Reports FY/14 Lease Financing Yield Off 47 BPS

Wells Fargo reported record FY 2014 earnings of $23.1 billion, up from $21.9 billion in 2013. The bank noted its lease financing portfolio of $12.3 billion was providing a yield of 5.63%, down 47 bps from 6.10% a year earlier. read more

JPMorgan Reports Record FY/14 Earnings, Q4 Hurt by Legal Costs

JPMorgan Chase reported earnings for FY/14 was a record $21.8 billion, compared with $17.9 billion in the prior year. Q4/14 net income of $4.9 million was down from $5.3 million a year earlier with the bank noting a legal charge of $990 million. read more

Deere Sales, Earnings Down; Weak Outlook for Ag in 2015

Deere & Company reported fiscal Q4 and full-year 2014 revenues and net income were down from the same periods in 2013. The company noted in its outlook that sales and earnings will continue to slide in 2015 as a result of weaker conditions in the global farm economy. read more

John Deere Capital Earnings Up on Portfolio Growth

Deere & Company reported net income attributable to John Deere Capital was $154.2 million in Q4 and $544.2 million for the full-year 2014, up from $132.9 million and $468.5 million in the same periods last year primarily due to growth in the credit portfolio. read more

FLY Leasing Q3 Earnings Up on Higher Revenues

FLY Leasing announced Q3/15 net income of $15.4 million, up from $0.3 million a year earlier. The aircraft lessor said revenues of $105.5 million, were up 33% from $79.1 million in Q3/13. read more

Element Reports Earning Assets of $8.9B, Up 120% Q/Q

Element reported new originations of $1.2 billion, together with the acquisition of PHH Arval at the beginning of the period, contributed to a 120% increase in the company’s total earning assets to $8.9 billion at September 30, 2014 versus $4.1 billion at June 30, 2014. read more

Willis Lease Finance Swings to Q3 Profit

Willis Lease Finance reported Q3/14 profit of $1 million compared to a net loss of $2.2 million in Q3/13. read more

NewStar Q3 Volume Up 44%; Announces Strategic Relationship

NewStar Financial reported Q3 total new funded loan volume was $409 million, up 25% from $326 in the prior quarter and 44% from $284 million in the Q3/13. The company also announced the formation of a strategic relationship with GSO Capital. read more

Medallion Financial Q3 Margin ‘Highest Ever’

Medallion Financial noted in its news release on Q3/14 earnings that its net interest margin was the “highest ever” for the company at 7.40% on a combined basis, up from 6.96% a year ago. read more

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Terry Mulreany
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