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

MB Financial expects $85M tax benefit from revaluation

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


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.