Signature Bank (SBNY) said its fourth-quarter net income available to common shareholders stood at $20.97 million or $0.51 per share compared with $13.07 million or $0.37 per share for the 2008 fourth quarter, predominantly attributable to net interest income growth, fueled by record core deposit growth and continued loan growth.
On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.36 for the quarter. Analysts' estimate typically excludes one-time items.
Net interest income before provision for loan losses for the 2009 fourth quarter was $75.73 million, up 28.6% compared with $58.90 million in the 2008 fourth quarter. Total non-interest income increased to $9.61 million from $4.31 million a year ago. Ten analysts estimated revenues of $79.86 million for the quarter.
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