Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

First Midwest Bancorp Q1 Profit Rises

RELATED NEWS
Trade FMBI now with 

First Midwest Bancorp Inc. (FMBI: Quote), the holding company for First Midwest Bank, Wednesday reported an increase in profit for the first quarter, due mainly to lower loan loss provisions and expenses.

The Itasca, Illinois-based company reported a first-quarter net profit applicable to common shares of $7.75 million or $0.11 per share, compared to $7.33 million or $0.10 per share last year. On average, 10 analysts polled by Thomson Reuters expected earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter dropped to $65.18 million from $70.65 million in the year-ago quarter. Total non-interest income grew to $24.69 million from $24.22 million in the prior-year quarter.

Seven analysts had a consensus revenue estimate of $90.20 million for the quarter.

Loan loss provisions for the quarter decreased to $18.21 million from $19.49 million last year.

Total non-interest expenses for the quarter dropped to $62.61 million from $65.42 million last year.

Click here to receive FREE breaking news email alerts for First Midwest Bancorp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Eurozone manufacturing moved closer to stagnation in September as German factory sector contracted for the first time in 15 months, final data from Markit Economics showed Wednesday. The manufacturing Purchasing Managers' Index fell more than intially estimated to a 14-month low of 50.3 from August's reading 50.7. The reading was below the earlier flash estimate of 50.5. Indonesia's inflation accelerated in September on food and utility costs, data from the Central Statistics Agency showed Wednesday. The trade balance swung into deficit in August as import growth exceeded the increase in exports. Inflation rose to 4.53 percent in September from 3.99 percent in... The U.K. economy grew more than estimated in the second quarter and the current account deficit widened from the first quarter, the Office for National Statistics said Tuesday. Gross domestic product grew 0.9 percent sequentially, up from the prior estimate of 0.8 percent. The annual growth was confirmed at 3.2 percent.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.