In this feature, S&PGlobal Market Intelligence takes a look at a handful of community banksreporting results for the three months ended June 30 around the country on July19.
Midwest
GrandRapids, Mich.-based MercantileBank Corp.
TheS&P Capital IQ consensus estimate for normalized EPS was 42 cents for thelatest quarter.
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Northeast
Glastonbury,Conn.-based United FinancialBancorp Inc. reported second-quarternet income of $9.1 million, or 18 cents per share, compared to $13.3 million,or 27 cents pershare, for the second quarter of 2015.
Operatingnet income for the second quarter of 2016 was $10.0 million, or 20 cents pershare. United Financial's operating net income is adjusted for purchaseaccounting impacts, net gain from sales of securities and the effect ofposition eliminations as a result of the Company's previously disclosedreorganization plan.
TheS&P Capital IQ consensus estimate for normalized EPS was 25 cents for thelatest quarter.
Southeast
Wheeling,W.Va.-based WesBanco Inc.disclosed second-quarternet income of $22.1 million, or 58 cents per share, compared to $21.6 million,or 56 cents per diluted share, for the same period in 2015.
TheS&P Capital IQ consensus estimate for normalized EPS was 56 cents for thelatest quarter.
Thecompany's provision for credit losses declined to $1.8 million in the 2016second quarter, compared to $2.7 million in the 2015 second quarter, due toimproved credit metrics. The net interest margin was 3.30% for the secondquarter, compared to 3.29% for the linked quarter and 3.44% for the secondquarter of 2015.
Tupelo,Miss.-based Renasant Corp.reported net income of$22.9 million, or 54 cents per share, for the second quarter, compared to $15.4million, or 48 cents per share, for the year-ago period.
Thecompany incurred pretax merger and conversion expenses of $2.8 million, or $1.9million on an after-tax basis, for the second quarter of 2016 which reduceddiluted EPS by 5 cents.
TheS&P Capital IQ consensus estimate for normalized EPS was 57 cents for thelatest quarter.
Thecompany's NIM was 4.29% for the second quarter of 2016, compared to 4.21% forthe linked quarter and 4.17% for the second quarter of 2015.
Nashville, Tenn.-based disclosed net incomeof $30.8 million, or 73 cents per share, for the second quarter, compared to$22.7 million, or 64 cents per share, for the year-ago quarter.
The S&P Capital IQ consensus estimate fornormalized EPS was 74 cents for the latest quarter.
President and CEO M. Terry Turner highlighted in anews release that the net loan growth of $263.5 million during the secondquarter represented a 46.8% increase over the same quarter in 2015. "Wecontinue to believe low to mid double-digit percentage year-over-year organicloan growth is a reasonable expectation for the remainder of 2016 and 2017,"he added.
Southwest
Stillwater,Okla.-based Southwest Bancorp Inc.
TheS&P Capital IQ consensus estimate for normalized EPS was 24 cents for thelatest quarter.
During the first six months of 2016, Southwest repurchased1,336,387 shares for a total of $21.0 million.
Plano,Texas-based LegacyTexas FinancialGroup Inc.
TheS&P Capital IQ consensus estimate for normalized EPS was 44 cents for thelatest quarter.
Thecompany's NIM was 3.79% during the second quarter, compared to 3.88% for thelinked quarter and 4.06% for the second quarter of 2015.