The Motley Fool Previous Page

Weekly Regional Bank Earnings Roundup

Robert Eberhard
July 27, 2012

Following the lead of their much larger compatriots JPMorgan Chase, Citigroup, and Wells Fargo, and 35 regional banks from last week, 54 regional banks released second-quarter earnings this week. It was good news for 30 banks, decent news for nine banks, and 15 banks can be viewed as disappointments depending on how you look at them. This article will touch briefly on some of the more noteworthy earnings releases from the past week.

One-time credit equals big earnings beat
Among the bigger surprises of the week was the performance of Missouri-based bank Great Southern Bancorp (Nasdaq: GSBC  ) , which exceeded analyst expectations for the quarter by over 200%! While the consensus among analysts was a respectable $0.51 per share, Great Southern checked in with a robust $1.58 per share. When looking beyond the headline grabbing numbers, however, we see that the majority of this income was a result of the FDIC-assisted acquisition of Inter Savings Bank of Minnesota, which resulted in an immediate gain of $31.3 million. This is not to say that the bank didn't improve this quarter -- nonperforming loans continued to decrease, down $5 million from the end of 2011.

Regional bank favorites continue to impress
Regional banking favorites Synovus Financial (NYSE: SNV  ) and Regions Financial (NYSE: RF