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Banking earnings roundup: Regionals talk CCAR, Brexit

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

Winston-Salem,N.C.-based BB&TCorp. reported net income available to common shareholders of$541 million, or 66 cents per share, for the second quarter of 2016. Thatcompares to $454 million, or 62 cents per share, in the same quarter of 2015.

Chairman,President and CEO Kelly King said that M&A are "off the table"for the bank, as it works to fully integrate its recent deals. King also saidthat the bank will focus on reducing expenses amid the challenging yieldenvironment.

For more information, see:


Columbus, Ohio-based Huntington Bancshares Inc. second-quarter net income of$175 million, or 19 cents per share. That compares to $196 million, or 23 centsper share, for the same quarter of 2015.

The bank's executives addressed its recent Dodd-FrankAct stress test complications during the company's earnings call with analysts.Chairman, President and CEO Stephen Steinour pointed out that the process is"very different" for a company in the midst of an acquisition.

Formore information, see: Huntington explains low capital ratios under DFAST scenario


Providence,R.I.-based Citizens FinancialGroup Inc. reported net income applicable to common stockholders of$243 million, or 46 cents per share, for the second quarter of 2016. Thatcompares to $190 million, or 35 cents per share, for the year-ago period.

Citizensexecutives forecast expenses to be "reasonably flat" for theremainder of 2016. The bank's adjusted efficiency ratio of 65% was 2% betterthan the year-ago period, according to CFO Eric Aboaf. Chairman and CEO BruceVan Saun predicted that the bank's efforts to produce operating leverage willhelp the company's efficiency ratio move toward its goal in the low 60s.

For more information, see:


New York-based Bank of New York Mellon Corp. net income applicable to commonshareholders of $825 million, or 75 cents per share, for the second quarter of2016. That compares to $830 million, or 73 cents per share, in the same quarterof 2015.

During its earnings call, the bank announced that itwill move to a single-point-of-entry approach in resolution planning to createa more credible living will. "Implementing this [single-point-of-entry]strategy will likely result in some additional expense and may require us toissue additional [total loss-absorbing capacity]-eligible debt," said CFOTodd Gibbons.

Formore information, see: Bank of New York Mellon could issue TLAC debt due to change inliving wills approach


Pittsburgh-based F.N.B. Corp. reported net income available to commonstockholders of $39.3 million, or 19 cents per diluted common share, for thesecond quarter of 2016. That compares to net income available to commonstockholders of $38.1 million, or 22 cents per share, for the second quarter of2015.

The bank also announced an agreement to acquire in an all-stockdeal valued at around $1.4 billion, or $27.35 per share. The deal would boostthe bank to almost $30 billion in assets, but according to sources, investorsmay be wary of the geographic leap.

Formore information, see: Investors wary of F.N.B.'s big leap into NC with Yadkin deal


Los Angeles-based Cathay General Bancorp net income of $34.8 million forthe second quarter, or 44 cents per share, as compared to $45.2 million, or 56cents per share, in the year-ago quarter. Net interest income before provisionsfor credit losses was $101.8 million, compared to $94.8 million in the secondquarter of 2015.

Formore information, see: Cathay sees loan growth in CRE, residential helping bank hit growthtargets


Pasadena, Calif.-based second-quarter netincome of $103.3 million, or 71 cents per share, compared to $98.8 million, or68 cents per share, for the same quarter a year ago. Total revenue increased 2%quarter over quarter to $297.8 million, and total loans grew $490.8 millionduring the quarter to $24.29 billion as of June 30.


Gulfport, Miss.-based Hancock Holding Co. reported second-quarter net income $46.9 million, or 59cents per share, compared to $34.8 million, or 44 cents per share, in theyear-ago period.

Formore information, see: Hancock's stock jumps after Q2 earnings beat the Street


Portland, Ore.-based Umpqua Holdings Corp. net income available to common shareholdersof $54.3 million, or 25 cents per share, compared to $54.7 million, or 25 centsper share, in the second quarter of 2015.

Formore information, see: Umpqua not hunting for bank deals


Dallas-based Texas Capital Bancshares Inc. net income available to commonstockholders of $36.4 million, or 78 cents per share, for the second quarter,compared to $35.5 million, or 76 cents per share, in the year-ago period.Charge-offs related to energy loans were $12.1 million, compared to $5.9million for the first quarter. Total net charge-offs were $12.0 million,compared to $7.4 million for the first quarter.


Tupelo, Miss.-based BancorpSouth Inc. reported second-quarter net income of $34.7 million, or37 cents per share, compared to $39.7 million, or 41 cents per share, for thesecond quarter of 2015.

Formore information, see: BancorpSouth's pending mergers in regulators' hands, executivessay


Chicago-basedMB Financial Inc.reported second-quarternet income available to common stockholders of $41.4 million, or 56 cents pershare, compared to $39.0 million, or 52 cents per share, in the second quartera year ago. Net interest margin, on a fully tax equivalent basis and excludingaccretion on loans acquired in the Taylor Capital merger, increased 2 basispoints quarter over quarter to 3.57%. An increase in mortgage origination feesfrom higher volume helped noninterest income increase 11.6% over the linkedquarter.