Chicago-based First Midwest Bancorp Inc. reported third-quarter net income applicable to common shares, adjusted, of $56.8 million, or 52 cents per share, up from $46.8 million, or 46 cents per share, in the year-ago period.
The S&P Global Market Intelligence consensus estimate for normalized EPS for the third quarter was 49 cents.
Net income applicable to common shares was $54.1 million, or 49 cents per share, up from $52.9 million, or 52 cents per share, in the year-ago period.
The tax-equivalent net interest margin for the third quarter was 3.82%, compared to 4.06% for the linked quarter and 3.92% for the third quarter of 2018.
Total loans were $12.77 billion in the third quarter, compared to $12.52 billion in the second quarter and $11.05 billion in the year-ago quarter.
Total deposits were $13.45 billion at the end of the third quarter, compared to $12.93 billion at the end of the second quarter and $11.56 billion in the year-ago quarter.
The company had total net charge-offs of $9.2 million for the third quarter, compared to $9.3 million in the linked quarter and $8.0 million for the third quarter of 2018. Provision for loan losses for the third quarter was $12.5 million, compared to $11.5 million for the previous quarter and $11.2 million for the third quarter of 2018.