trending Market Intelligence /marketintelligence/en/news-insights/trending/lLKJMon-XsFhmzXmjDBG1Q2 content esgSubNav
In This List

MB Financial expects $85M tax benefit from revaluation

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


MB Financial expects $85M tax benefit from revaluation

MB Financial Inc. expects to record a one-time tax benefit of at least $85 million, or approximately $1.00 per share, courtesy of tax reform and the corresponding revaluation of its net deferred tax liabilities.

Chicago-based MB had net deferred tax liabilities of $193 million as of Sept. 30, and expects to still be in a net deferred tax liability position at the end of the year.

The estimated benefit could still be increased by fourth-quarter leasing activity that retroactively applies a 100% bonus depreciation deduction.

Tax reform is also projected to lower the company's effective tax rate by about 10% to 11% beginning 2018. MB intends to contribute $7.5 million to the MB Financial Charitable Foundation, and subsidiary MB Financial Bank NA will raise its minimum wage to $15 per hour and pay certain employees one-time bonuses totaling approximately $2.7 million.