People's United Financial Inc. reported fourth-quarter 2019 operating earnings of $158.8 million, or 37 cents per share, up from $134.2 million, or 36 cents per share, in the year-ago quarter.
The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 33 cents.
People's United's GAAP fourth-quarter 2019 net income available to common shareholders was $134.0 million, or 31 cents per share, up from $129.4 million, or 35 cents per share, in the same quarter of 2018.
The bank's net interest margin fell year over year to 3.14% from 3.17%. Net interest income rose year over year to $382.7 million from $332.6 million.
As of Dec. 31, 2019, the company recorded total loans of $43.60 billion, up from $38.78 billion in the linked quarter and $35.24 billion in the year-ago quarter. Deposits totaled $43.59 billion, up from $38.57 billion in the third quarter and $36.16 billion in the fourth quarter of 2018.
For the full year 2019, People's United reported operating earnings of $552.1 million, or $1.39 per share, up from $461.4 million, or $1.31 per share, in 2018.
The S&P Global Market Intelligence consensus normalized EPS estimate for 2019 was $1.34.
Full-year 2019 GAAP net income available to common shareholders was $506.3 million, or $1.27 per share, up from $454.0 million, or $1.29 per share, in 2018.