trending Market Intelligence /marketintelligence/en/news-insights/trending/MOR_yBcNm1Gdr1iU7enhXA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Banking earnings roundup: First Niagara, Investors Bancorp record YOY drop in NIM

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Banking earnings roundup: First Niagara, Investors Bancorp record YOY drop in NIM

SNL presents a daily snapshotof earnings for banks over $10 billion in assets. Click hereto read all of SNL's earnings coverage.

Earlythis morning, Buffalo, N.Y.-based FirstNiagara Financial Group Inc. disclosed first-quarter GAAP available to common shareholdersof $40.8 million, or 11 cents per share, compared to $43.8 million, or 12 centsper share, for the year-ago period. Excluding merger-related costs, First Niagara'sfirst-quarter 2016 operating net income available to common shareholders was $49.9million, or 14 cents per share.

The S&PCapital IQ consensus estimate for normalized EPS was 14 cents for the recent quarter.

On atax-equivalent basis, the company's reported net interest margin for the first quarterwas 3.00%, compared to 2.98% in the previous quarter and 3.07% in the first quarterof 2015.


ShortHills, N.J.-based Investors BancorpInc. released first-quarter results after market close yesterday. Thecompany's net incomefor the period was $43.6 million, or 14 cents per share, compared to the year-agoquarter's $41.9 million, or 12 cents per share.

The S&PCapital IQ consensus estimate for normalized EPS was 13 cents for the recent quarter.

The company'snet interest margin decreased 13 basis points to 3.05% for the first quarter, comparedto 3.18% for the quarter ended March 31, 2015.

Additionally,Investors Bancorp reported that its board approved a third stock buyback program under which the company may repurchasean additional 10% of its outstanding common shares, or approximately 31 millionshares.


reportednet income of $19.3 million,or 7 cents per share, for the quarter ended March 31, compared to $15.7 million,or 5 cents per share, for the same period a year ago. The company said in its earningsrelease that the increase was due to a combination of a decrease in the provisionfor loan losses, higher net interest income, an increase in the net gain on thesale of loans and a decrease in non-interest expenses.

TFS Financial'snet interest margin for the quarter ended March 31 was 2.25%, compared to 2.14%for the year-ago period.

Duringthe three months ended March 31, TFS Financial repurchased a total of 1,860,000common shares at an average cost of $17.10 per share. At the end of March, therewere 4,330,000 shares remaining to be purchased under the company's buyback program.