Signature Bank Back on Track after Taxi Medallion Episode

New York-based Signature Bank reported Q3/17 net income was $124.5 million versus $76.1 million in the same 2016 quarter, which included $61.7 million of provision expense for the Chicago taxi medallion portfolio.

Monroe Capital BDC Q2 Earnings, Investments Up Sequentially

Monroe Capital’s Q2/17 net investment income of $6.1 million was up 9% from $6.0 million sequentially. Investments at fair value of $445.5 million were up $27.4 million from $418.1 million in Q1/17.

OnDeck Reports Lower Q2 Losses; Originations Down on Loan Tightening

OnDeck reported lower Q2/17 net losses compared to the same quarter in 2016. Loan volume of $464.4 million was down from $589.7 million a year earlier. YTD provision charges of $78.9 million were up 37% from $57.7 million a year earlier.

Signature Bank Q2 Earnings Suffer on Taxi Medallion Loan Losses

Signature Bank reported Q2/17 net income was $14.0 million compared to $102.2 million in Q2/16. The bank noted the decline resulted from an increase of $154.3 million in loan losses nearly all attributable to the NYC taxi medallion portfolio.

Monroe Capital Corp BDC Q1 Earnings Up Sequentially

Monroe Capital Corporation’s Q1/17 net investment income of $6 million was up 12% from $5.4 million in the previous quarter.

OnDeck Reports Q1 Net Loss Despite 48% Increase in Revenue

OnDeck reported a Q1/17 net loss of $11.1 million despite a gross revenue increase of $30.3 million, which was partially offset by loan loss charges of $46.2 million, up from $25.4 million in Q1/16.

CIT Q1 Earnings from Continuing Operations Up 28%

CIT reported Q1/17 net income from continuing operations was $78 million, up 28% from $61.0 million a year earlier. Provision for credit losses in Q1/17 was down 44.5% from $89.5 million a year earlier.

Signature Reports Record Q1 Earnings; Notes Taxi Medallion Loans

Signature Bank reported Q1/17 earnings were a record $133.9 million up 28.7% from $104.0 in Q1/16. The bank noted a significant increase in non-accrual loans attributed primarily to taxi medallion loans.

Bank of America Beats Estimates, Q1 Y/Y Earnings Increase 40%

Bank of America’s reported net income was up 40% to $4.9 billion before preferred stock dividends. EPS of $0.41 exceeds analysis estimates of $0.35%.

Wells Fargo Q1 Global C&I Portfolio Reflects Growth, Higher Returns

Wells Fargo reported Q1/17 global C&I average loan balances were up 7.44% from a year earlier as both domestic and non-U.S. portfolios showed growth. Interest income was also up as higher yields boosted performance.