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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.