Inthis feature, S&P Global Market Intelligence takes a look at a handful ofcommunity banks reporting results for the three months ended March 31 aroundthe country on April 27.
Midwest
Manhattan, Kan.-based net earnings of $2.3million, or 62 cents per share, for the quarter ended March 31, compared to$2.8 million, or 77 cents per share, for the first quarter of 2015.
Troy, Mich.-based Talmer Bancorp Inc., which has a merger with ,reported net incomeof $19.7 million, or 28 cents per share, for the first quarter. This comparesto $9.4 million, or 12 cents per share, for the first quarter of 2015.
Noninterest expense decreased $20.3 million, to $48.3million in the first quarter, compared to the fourth quarter of 2015, primarilydue to $20.4 million of net loss on the early termination of 's FDICloss-share agreements and the FDIC's warrant recognized in the fourth quarterof 2015, in addition to overall declines in core operating expenses, partiallyoffset by an increase of $2.5 million in merger and acquisition expense.
Excluding noncore expenses, noninterest expense declinedby $2.5 million.
Southwest
Lafayette, La.-based MidSouth Bancorp Inc. reported net earnings available to common shareholdersof $1.9 million, or 17 cents per share, for the first quarter, compared to $1.3million, or 12 cents per share, for the first quarter of 2015.
Formore information, see:
MidSouthBancorp delays original plans to repay SBLF capital
American Fork, Utah-based that first-quarter netincome was $5.2 million, or 29 cents per share, compared to the year-agoquarter's $4.8 million, or 31 cents per share.
West
Bend, Ore.-based Cascade Bancorp said that net income for the first quarter was $1.9million, or 3 cents per share, compared to $5.1 million, or 7 cents per share,for the first quarter of 2015.
The company said that the lower net income is mainlydue to the one-time costs incurred in connection with the branch with
Tacoma, Wash.-based Columbia Banking System Inc. said that first-quarter net income was $21.3 million, or37 cents per share, compared to the year-ago period's $24.4 million, or 42cents per share.
"Our reported earnings were muted by the last ofthe Intermountain acquisition expense, increased provision expense andlower accretion income," President and CEO Melanie Dressel said.
The S&P Capital IQ consensus estimate fornormalized EPS was 46 cents for the latest quarter.
Northeast
Westerly, R.I.-based Washington Trust Bancorp Inc. net income of $10.9 million, or64 cents per share for the quarter ended March 31, compared to $11.0 million,or 65 cents per share, for the year-ago period.
The company said that FHLBB advances totaling $10.0million were prepaid in late March.